PERPETUAL RESOURCES LIMITED — Capital/Financing Update 2026

Mar 17, 2026

ASX Announcement 18 March 2026

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Soil Sampling at Igrejinha Identifies Pegmatite Target at Pico Grande Prospect

New pegmatite target defined at the newly named Pico Grande Prospect; Trenching to commence in March ahead of mid-year drilling.

HIGHLIGHTS

• Newly identified large coincident Cs–Rb–Ga anomaly identified at the Pico Grande Prospect within the Igrejinha Project

• Interpreted as a new concealed pegmatite body that extends approximately 600m x 400m , centred on a topographic high.

• Geochemical signature consistent with highly fractionated Lithium–Caesium– Tantalum (LCT) pegmatite systems.

• New discovery is the third significant pegmatite within the Igrejinha Project, highlighting the exceptional prospectivity of Perpetual’s tenement areas.

• Lithium and caesium soil anomaly also identified at the previously defined Mauricio Target , with results expected to assist in refining drill targeting for follow-up exploration programs.

• Extensive trenching program planned for March/April 2026 to test priority soil anomalies ahead of diamond drilling mid-year.

Perpetual Resources Ltd (“Perpetual” or “the Company”) (ASX: PEC) is pleased to report results from its recently completed soil geochemistry programs at the Igrejinha Project in Minas Gerais, Brazil. The program has identified a new prospect, Pico Grande , located approximately 750m northwest of the Morro Grande high-grade critical minerals bearing pegmatite, which itself remains open in all directions and at depth. Pico Grande exhibits the same key LCT pathfinder elements as the established Morro Grande and Mauricio targets, confirming three coherent pegmatite prospects within the Igrejinha tenure and reinforcing the emerging camp-scale potential of the project.

The Morro Grande pegmatite has previously delivered significant channel sampling results, including grades up to 17% Cs₂O (see ASX announcement dated 17 February 2026). The Company considers the geochemical signature at Pico Grande to be highly encouraging and consistent with the potential for a similar style of mineralised pegmatite system.

Perpetual Resources Ltd

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T: 08 6256 5390 E: info@perpetualresources.co W: perpetualresources.co

ACN: 154 516 533 Principal & Registered Office: Suite 2, 68 Hay Street, Subiaco, Western Australia 6008

18 March 2026

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Commenting on the results, Executive Chairman, Julian Babarczy, said:

“Today’s results further reinforce the regional potential of the Igrejinha Project. With the identification of Pico Grande, we now have three high-priority pegmatite targets within the tenure, highlighting the emergence of what we believe could be a significant pegmatite camp.

Our systematic approach continues to deliver, with soil geochemistry again proving to be an effective exploration tool by defining a broad, coincident caesium-rubidium-gallium signature consistent with a fractionated LCT pegmatite system. With trenching set to commence in March, we are now moving into a disciplined testing phase ahead of a targeted mid-year drilling campaign”.

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Figure 1: Map showing location of interpreted pegmatite body at the new Pico Grande Target, as well as the surface soil geochemistry signature of the already discovered Morro Grande highgrade critical minerals pegmatite, for previous sampling results, drilling results and prior soil sampling result, refer ASX announcements 17 February 2026, 2 October 2025 and 28 May 2025

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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New Target Defined at Pico Grande (Northwest of Morro Grande)

Systematic soil sampling over Pico Grande was completed on a 100m x 25m grid, with 345 samples collected and analysed[1] . A large, coherent, multi-element anomaly has been identified associated with a topographic high approximately 750m northwest of the known Morro Grande pegmatite (refer to Figure 1 above).

Perpetual’s in-country geological team has interpreted this geochemical signature as potentially reflecting a highly fractionated pegmatite body , and is encouraged that this anomaly shares many of the characteristics seen at the Morro Grande pegmatite.

Key characteristics include:

• Caesium (Cs) anomaly up to ~600m x 400m

• Rubidium (Rb) anomaly up to ~600m x 350m

• Gallium (Ga) anomaly up to ~600m x 250m

Confirmation of Known Morro Grande System

The soil program also confirmed strong lithium and pathfinder anomalism along the northern mid-slope of Morro Grande, directly overlying the previously identified pegmatite where high-grade caesium and lithium channel sampling was recently reported (refer to ASX announcement dated 17[th] February 2026). The Morro Grande pegmatite also remains open along strike and at depth, with additional extensions to be followed up with subsequent trenching and drilling programs.

This provides additional confidence that the soil methodology is effectively detecting pegmatite-related mineralisation in the project area.

Mauricio Target – Soil Anomaly Identified

Soil sampling across the Mauricio Target on a 100m x 50m grid, where 86 samples were collected and analysed, has also defined a coherent lithium and caesium soil anomaly within the southeastern portion of the Igrejinha tenement (refer Figure 2). While smaller in scale than the new Pico Grande anomaly, the geochemical signature is considered encouraging and consistent with pegmatite-related mineralisation.

The Mauricio Target was previously tested by the Company’s maiden drilling program in 2025, which intersected broad widths of pegmatitic material[2] . The newly defined soil anomaly will be incorporated into the upcoming trenching program to further assess its potential ahead of future drilling.

1 Refer also to ASX announcement dated 28th May 2025 for previous broad-based soil sampling results.

2 Refer to ASX Announcement dated 13th August 2025.

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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Figure 2: Map showing Igrejinha tenement area and highlighting the surface soil geochemistry signature of the Morro Grande, Pico Grande and Mauricio Targets.

Next Steps

Perpetual will now advance the Igrejinha Project into a systematic trenching phase, scheduled for March/April 2026.

The trenching program will:

• Systematically test soil anomalies at the Pico Grande Target

• Expand testing around the existing Morro Grande pegmatite

• Assess priority targets at Mauricio

Results from trenching will inform a planned diamond drilling program mid-2026 , targeting:

1. Extensions of the known Morro Grande pegmatite;

2. The newly interpreted concealed pegmatite body northwest of Morro Grande, called Pico Grande; and

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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1. The Mauricio Target, located in the South East of the Igrejinha tenement where pegmatite intersections were returned from the maiden drilling program in mid 2025 (refer to ASX Announcements dated 13[th] August 2025 and 2[nd] October 2025).

About the Igrejinha Project

The Igrejinha Project is located within Brazil’s “Lithium Valley” in Minas Gerais and comprises multiple prospective pegmatite targets, including Morro Grande and Mauricio. The project lies within the Araçuaí Orogen, a globally recognised LCT pegmatite province hosting numerous lithium deposits. Perpetual is earning up to 90% exploration rights at the Igrejinha Project.

About the Brazilian Lithium Valley Projects

Perpetual is actively exploring in the state of Minas Gerais, which is the location of the bulk of Brazil’s substantial mining activity, including all lithium production. Perpetual holds several highly prospective projects in the region with recent exploration efforts focused at Renaldinho and Igrejinha (which contains both the Morro Grande and Mauricio targets). Lithium mineralisation has been identified within multiple project areas which contain numerous and in some areas expansive historical artisanal workings with limited modern exploration having been completed.

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Figure 3: Regional map showing Perpetual’s Araçuaí Valley tenement areas (black outline), all located within Brazil’s Lithium Valley (Refer to ASX Announcement dated 2nd October 2025 for additional map references.)

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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This announcement has been approved for release by the Board of Perpetual.

- ENDS –

KEY CONTACT

Julian Babarczy Executive Chairman

E info@perpetualresources.co

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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About Perpetual Resources Limited

Perpetual Resources Limited (Perpetual) is an ASX listed company pursuing exploration and development of critical minerals essential to the fulfillment of global new energy requirements.

Perpetual is active in exploring for lithium and other critical minerals in the Minas Gerais region of Brazil, where it has secured approximately 12,000 hectares of highly prospective lithium exploration permits, within the pre-eminent lithium (spodumene) bearing region that has become known as Brazil’s “Lithium Valley”.

Perpetual also operates the Beharra Silica Sand development project, which is located 300km north of Perth and is 96km south of the port town of Geraldton in Western Australia.

Perpetual continues to review complementary acquisition opportunities to augment its growing portfolio of exploration and development projects consistent with its critical minerals focus.

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Perpetual Resources Ltd ASX: PEC

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18 March 2026

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COMPLIANCE STATEMENTS

Forward-looking statements

This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Disclaimer

No representation or warranty, express or implied, is made by Perpetual that the material contained in this document will be achieved or proved correct. Except for statutory liability and the ASX Listing Rules which cannot be excluded, Perpetual and each of its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, correctness, reliability or completeness of the material contained in this document and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person through use or reliance on any information contained in or omitted from this document.

Competent Person Statement

The information in this report related to Exploration Results is based on data compiled by Mr. Christopher Piggott. Mr. Piggott is a consultant to Perpetual Resources Limited and is a member of the Australian Institute of Geoscientists (AIG). He possesses sound experience that is relevant to the style of mineralisation and type of deposit under consideration, as well as the activities he is currently undertaking. Mr. Piggott qualifies as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves.’ He provides his consent for the inclusion of the matters based on his information, as well as information presented to him, in the format and context in which they appear within this report.

Previous disclosure

This announcement contains references to prior exploration results, all of which have been crossreferenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that all material assumptions and technical parameters underpinning those results continue to apply and have not materially changed.

Perpetual Resources Ltd ASX: PEC

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ASX Announcement 18 March 2026

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Appendix A –Assay Results

UTM Coordinate Datum SIRGAS 2000 24S

Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
ING261	194423	8130361	360	143	89	23	14	10	71
ING262	194473	8130361	375	215	111	50	25	21	76
ING263	194523	8130361	384	202	105	45	27	20	73
ING264	194573	8130361	390	141	88	29	26	12	78
ING265	194623	8130361	389	122	76	24	27	11	86
ING266	194673	8130361	382	118	95	29	24	9	88
ING267	194723	8130361	370	120	103	18	18	7	97
ING268	194773	8130361	370	112	84	15	14	6	97
ING269	194373	8130361	371	159	101	41	24	17	87
ING270	194323	8130361	379	133	88	40	25	21	85
ING271	194273	8130361	380	188	149	53	30	50	79
ING272	194223	8130361	375	201	389	83	33	46	55
ING273	194173	8130361	364	211	384	79	33	35	54
ING274	194123	8130361	358	77	94	16	13	6	82
ING275	194073	8130361	355	59	96	11	13	6	89
ING276	194023	8130361	360	74	130	14	15	5	83
ING277	193973	8130361	360	71	143	15	18	6	123
ING278	193923	8130361	365	53	77	14	18	6	93
ING279	194423	8130461	372	286	160	62	24	22	84
ING280	194473	8130461	381	113	79	29	23	11	80
ING281	194523	8130461	385	130	89	39	25	14	80
ING282	194573	8130461	385	125	78	33	25	17	72
ING283	194623	8130461	382	151	99	32	26	13	82
ING284	194673	8130461	372	168	139	28	24	9	78
ING285	194723	8130461	374	119	92	16	21	6	77
ING286	194775	8130461	382	173	107	22	24	8	79
ING287	194373	8130461	355	129	118	25	17	8	79
ING288	194323	8130461	369	100	80	29	25	11	78
ING289	194273	8130461	374	93	97	35	24	12	85
ING290	194223	8130461	369	91	121	32	23	9	79
ING291	194173	8130461	356	109	108	25	23	8	86
ING292	194123	8130461	355	80	114	15	16	6	95
ING293	194073	8130461	360	69	89	16	17	7	100
ING294	194023	8130461	360	46	64	14	16	7	95
ING295	193973	8130461	362	39	61	13	16	6	96
ING296	193922	8130461	362	42	66	13	17	6	94
ING297	194423	8130560	370	80	65	22	22	12	79
ING298	194473	8130561	373	91	88	22	24	9	77
ING299	194523	8130561	373	97	68	25	26	10	71
ING300	194573	8130561	370	111	67	26	23	13	74
ING301	194623	8130561	368	135	131	23	25	9	73
ING302	194673	8130561	379	90	82	19	22	8	90
ING303	194723	8130561	385	97	82	16	26	8	75
ING304	194773	8130561	391	101	105	18	25	7	74
ING305	194374	8130561	356	154	186	28	26	7	67
ING306	194323	8130561	360	92	69	25	22	9	104

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
ING307	194273	8130561	365	72	62	21	20	8	89
ING308	194223	8130561	358	100	113	20	21	7	86
ING309	194173	8130561	350	63	74	15	18	7	84
ING310	194123	8130561	355	87	126	14	16	6	106
ING311	194073	8130561	355	31	60	7	10	6	97
ING312	194023	8130561	355	53	88	13	17	7	107
ING313	193973	8130561	356	51	83	15	17	7	97
ING314	193924	8130561	357	77	95	16	20	7	95
ING315	194422	8130260	385	101	88	31	25	14	75
ING316	194473	8130261	378	113	86	33	25	15	95
ING317	194523	8130261	370	124	99	20	14	9	76
ING318	194573	8130261	371	100	92	22	24	9	99
ING319	194623	8130261	371	99	80	21	20	11	94
ING320	194673	8130261	370	99	87	15	14	6	102
ING321	194723	8130261	374	93	99	21	25	9	85
ING322	194773	8130260	376	116	88	41	26	24	76
ING323	194373	8130260	386	90	75	28	26	17	71
ING324	194323	8130261	383	145	76	26	23	10	89
ING325	194273	8130261	376	111	87	22	21	8	79
ING326	194223	8130261	366	128	99	26	23	10	91
ING327	194173	8130261	363	52	71	16	19	9	110
ING328	194123	8130261	369	59	73	18	22	10	110
ING329	194073	8130261	369	75	91	18	22	10	86
ING330	194023	8130261	367	74	132	16	16	7	122
ING331	193973	8130261	365	64	84	17	18	7	90
ING332	193925	8130260	367	109	64	22	23	9	95
ING333	194423	8130161	390	87	60	24	22	12	87
ING334	194473	8130161	387	98	78	34	24	19	85
ING335	194523	8130161	379	111	79	16	19	7	89
ING336	194573	8130161	373	103	109	16	12	7	130
ING337	194623	8130161	373	165	97	22	13	9	78
ING338	194673	8130161	380	104	86	31	24	19	79
ING339	194723	8130161	389	103	68	26	23	16	78
ING340	194773	8130160	394	127	100	20	16	8	90
ING341	194374	8130161	390	75	74	20	20	8	113
ING342	194323	8130161	385	63	76	20	21	10	112
ING343	194273	8130161	376	50	62	16	20	9	89
ING344	194223	8130161	365	61	77	17	22	9	86
ING345	194173	8130161	370	70	79	17	22	10	107
ING346	194123	8130161	373	68	136	14	17	6	89
SO0101	193085	8132500	418	38	44	41	22	19	93
SO0102	193060	8132500	416	33	36	34	21	18	94
SO0103	193035	8132500	414	31	34	34	21	18	93
SO0104	193010	8132500	413	27	32	30	20	15	108
SO0105	192985	8132500	411	28	31	28	19	14	112
SO0106	192960	8132500	410	26	33	24	18	12	110
SO0107	192935	8132500	410	22	38	23	21	10	108
SO0108	192910	8132500	412	20	37	22	20	8	109
SO0109	192885	8132500	414	21	38	22	18	7	93
SO0110	192860	8132500	417	23	45	25	21	8	110

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0111	192835	8132500	419	24	50	27	22	8	122
SO0112	192810	8132500	421	28	51	25	21	7	122
SO0113	192785	8132500	423	28	52	25	20	6	115
SO0114	192760	8132500	425	26	48	23	21	6	109
SO0115	192735	8132500	427	26	46	22	20	6	107
SO0116	192710	8132500	427	26	45	21	20	6	104
SO0117	192685	8132500	427	26	49	22	20	7	105
SO0118	192660	8132500	427	30	54	23	20	6	107
SO0119	192635	8132500	426	30	52	22	20	6	107
SO0120	192610	8132500	425	31	54	21	20	5	104
SO0121	192610	8132500	425	33	55	23	21	6	114
SO0122	192585	8132500	424	32	57	22	20	5	104
SO0123	192560	8132500	422	35	59	21	21	6	110
SO0124	192535	8132500	420	30	55	20	21	6	124
SO0125	192510	8132500	418	25	49	18	20	5	122
SO0126	192485	8132500	416	27	44	17	20	<5	104
SO0127	192460	8132500	413	29	45	17	21	<5	113
SO0128	192435	8132500	411	28	43	16	20	<5	117
SO0129	192410	8132500	409	26	44	16	20	<5	114
SO0130	192385	8132500	407	25	43	15	19	<5	128
SO0131	192360	8132500	405	24	44	14	20	5	128
SO0132	192335	8132500	402	22	41	14	17	<5	125
SO0133	192310	8132500	400	22	44	14	19	<5	100
SO0134	192285	8132500	397	27	50	15	18	<5	84
SO0135	192260	8132500	393	33	59	16	19	<5	103
SO0136	192235	8132500	389	43	86	18	20	<5	98
SO0137	192210	8132500	383	39	86	16	19	<5	97
SO0138	192185	8132500	375	45	96	18	19	6	94
SO0139	192160	8132500	376	33	83	9	15	<5	96
SO0140	193200	8132600	413	54	90	60	23	17	95
SO0141	193175	8132600	411	49	62	47	24	17	102
SO0142	193175	8132600	411	54	60	47	24	17	98
SO0143	193150	8132600	409	44	49	42	26	18	111
SO0144	193125	8132600	408	34	40	39	23	18	98
SO0145	193100	8132600	407	29	36	36	22	17	113
SO0146	193075	8132600	405	25	35	34	21	18	99
SO0147	193050	8132600	405	26	35	32	21	16	106
SO0148	193025	8132600	405	24	34	26	19	13	138
SO0149	193000	8132600	405	21	38	24	19	11	109
SO0150	192975	8132600	407	15	32	20	18	8	128
SO0151	192950	8132600	409	14	38	23	21	8	105
SO0152	192925	8132600	412	17	37	23	20	7	91
SO0153	192900	8132600	414	22	44	25	20	7	99
SO0154	192875	8132600	417	23	50	25	20	7	111
SO0155	192850	8132600	420	25	49	25	21	7	111
SO0156	192825	8132600	423	27	53	26	21	7	106
SO0157	192800	8132600	426	25	55	26	20	7	100
SO0158	192775	8132600	429	28	57	24	20	7	94
SO0159	192750	8132600	432	34	70	25	22	7	106
SO0160	192725	8132600	435	34	77	24	21	6	90

Perpetual Resources Ltd ASX: PEC

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18 March 2026

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Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0161	192700	8132600	437	37	82	23	21	6	91
SO0162	192675	8132600	439	140	70	21	21	6	96
SO0163	192675	8132600	439	31	73	22	20	6	97
SO0164	192650	8132600	440	28	65	21	19	6	94
SO0165	192625	8132600	441	29	70	21	20	6	95
SO0166	192600	8132600	440	30	79	20	19	5	86
SO0167	192575	8132600	439	34	108	22	20	6	83
SO0168	192550	8132600	436	38	118	20	22	5	89
SO0169	192525	8132600	433	42	115	19	23	6	92
SO0170	192500	8132600	430	40	105	19	23	5	79
SO0171	192475	8132600	426	25	48	10	15	<5	75
SO0172	192450	8132600	423	38	64	17	21	5	91
SO0173	192425	8132600	420	30	50	16	19	5	85
SO0174	192400	8132600	417	28	45	16	19	5	89
SO0175	192375	8132600	414	28	46	17	20	6	97
SO0176	192350	8132600	411	29	48	17	19	6	93
SO0177	192325	8132600	408	29	58	18	19	6	98
SO0178	192300	8132600	404	30	62	19	18	6	98
SO0179	192275	8132600	400	31	62	18	20	5	86
SO0180	192250	8132600	396	29	60	17	19	<5	85
SO0181	192225	8132600	391	26	54	16	17	5	84
SO0182	192200	8132600	384	38	75	20	21	6	94
SO0183	192175	8132600	375	44	106	15	17	<5	89
SO0184	192175	8132600	375	43	103	15	17	<5	88
SO0185	192150	8132600	380	47	105	13	20	<5	97
SO0186	192160	8132700	376	42	82	10	15	<5	92
SO0187	192185	8132700	375	79	166	26	24	6	78
SO0188	192210	8132700	383	28	55	17	16	6	92
SO0189	192235	8132700	389	28	49	19	19	7	87
SO0190	192260	8132700	394	33	52	23	21	9	100
SO0191	192285	8132700	399	28	54	24	20	8	91
SO0192	192310	8132700	404	27	65	27	20	9	92
SO0193	192335	8132700	408	32	64	27	21	10	90
SO0194	192360	8132700	414	27	68	27	20	11	99
SO0195	192385	8132700	419	38	70	29	22	11	94
SO0196	192410	8132700	424	37	72	26	20	9	97
SO0197	192435	8132700	429	36	83	29	22	10	92
SO0198	192460	8132700	435	40	97	30	24	9	83
SO0199	192485	8132700	441	38	101	28	22	9	83
SO0200	192510	8132700	447	38	114	30	22	8	88
SO0201	192535	8132700	452	38	112	30	22	7	82
SO0202	192560	8132700	453	37	101	28	20	7	92
SO0203	192585	8132700	453	37	91	23	19	6	83
SO0204	192610	8132700	450	39	112	22	19	5	79
SO0205	192635	8132700	450	46	136	25	21	6	80
SO0206	192660	8132700	449	38	115	22	21	6	89
SO0207	192660	8132700	449	37	110	20	20	6	83
SO0208	192685	8132700	447	59	150	17	20	<5	101
SO0209	192710	8132700	448	34	99	20	18	<5	95
SO0210	192735	8132700	444	31	93	22	20	5	89

Perpetual Resources Ltd ASX: PEC

12

18 March 2026

==> picture [196 x 57] intentionally omitted <==

Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0211	192760	8132700	438	29	88	25	20	7	93
SO0212	192785	8132700	432	31	75	25	20	6	84
SO0213	192810	8132700	428	34	70	28	22	7	95
SO0214	192835	8132700	424	27	59	26	22	7	93
SO0215	192860	8132700	420	30	53	26	20	7	84
SO0216	192885	8132700	417	26	53	27	20	7	84
SO0217	192910	8132700	414	28	47	26	20	7	92
SO0218	192935	8132700	411	23	47	26	20	8	92
SO0219	192960	8132700	408	21	46	24	20	8	79
SO0220	192985	8132700	405	22	45	25	20	35	111
SO0221	193010	8132700	403	21	40	24	19	7	80
SO0222	193035	8132700	401	22	39	26	19	8	91
SO0223	193060	8132700	400	19	37	26	18	10	83
SO0224	193085	8132700	398	20	33	24	18	10	82
SO0225	193110	8132700	397	48	35	27	20	13	115
SO0226	193135	8132700	397	77	35	31	20	15	132
SO0227	193160	8132700	398	64	36	34	21	15	94
SO0228	193160	8132700	398	54	37	34	21	14	101
SO0229	193185	8132700	398	44	36	35	20	14	95
SO0230	193210	8132700	398	54	38	38	21	15	98
SO0231	193235	8132700	398	75	40	37	22	16	90
SO0232	193260	8132700	399	57	47	42	22	16	106
SO0233	193285	8132700	399	56	47	41	21	16	91
SO0234	193310	8132700	399	66	60	50	22	18	95
SO0235	193335	8132700	400	97	68	57	22	18	89
SO0236	193360	8132700	400	82	69	52	21	18	99
SO0237	193385	8132700	399	66	80	58	22	21	92
SO0238	193410	8132700	398	89	98	67	23	20	91
SO0239	193435	8132700	397	97	96	61	23	16	93
SO0240	193460	8132700	395	87	85	48	20	13	88
SO0241	193485	8132700	392	79	74	46	21	12	93
SO0242	193510	8132700	389	58	70	45	19	12	91
SO0243	193535	8132700	385	70	58	38	20	10	97
SO0244	193560	8132700	382	59	58	35	19	10	93
SO0245	193585	8132700	381	91	99	49	19	11	96
SO0246	193610	8132700	379	88	102	49	20	11	89
SO0247	193610	8132700	379	102	104	50	20	10	90
SO0248	193635	8132700	375	71	68	35	19	9	92
SO0249	193660	8132700	372	68	53	26	19	9	89
SO0250	193685	8132700	369	70	50	23	18	7	93
SO0251	193710	8132700	366	46	50	20	17	6	97
SO0252	193735	8132700	364	67	53	19	18	6	101
SO0253	193760	8132700	362	57	56	19	18	6	101
SO0254	193550	8132800	365	93	56	22	14	8	90
SO0255	193525	8132800	367	60	58	34	18	11	107
SO0256	193500	8132800	372	61	48	35	18	12	116
SO0257	193475	8132800	376	46	42	34	20	13	100
SO0258	193450	8132800	379	50	40	33	19	15	102
SO0259	193425	8132800	382	57	37	31	19	14	130
SO0260	193400	8132800	383	66	36	31	20	15	116

Perpetual Resources Ltd ASX: PEC

13

18 March 2026

==> picture [196 x 57] intentionally omitted <==

Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0261	193375	8132800	385	51	36	31	20	15	126
SO0262	193350	8132800	386	62	37	33	20	16	115
SO0263	193325	8132800	387	50	36	32	20	13	116
SO0264	193300	8132800	388	48	37	32	20	14	116
SO0265	193275	8132800	388	45	35	30	20	13	124
SO0266	193250	8132800	389	31	35	29	20	12	106
SO0267	193225	8132800	390	24	34	29	18	11	110
SO0268	193200	8132800	390	21	37	29	19	12	122
SO0269	193200	8132800	390	28	36	28	18	11	116
SO0270	193175	8132800	391	27	35	27	18	10	117
SO0271	193150	8132800	392	26	37	27	18	8	105
SO0272	193125	8132800	393	25	39	28	19	10	106
SO0273	193100	8132800	395	32	43	28	20	10	107
SO0274	193075	8132800	395	55	39	25	18	8	94
SO0275	193050	8132800	397	22	32	21	16	7	111
SO0276	193025	8132800	399	14	33	22	18	7	113
SO0277	193000	8132800	401	56	33	21	18	7	96
SO0278	192975	8132800	403	26	33	21	17	7	100
SO0279	192950	8132800	405	27	36	22	18	6	112
SO0280	192925	8132800	408	22	38	23	19	7	106
SO0281	192900	8132800	411	35	38	22	17	6	95
SO0282	192875	8132800	415	51	43	24	19	6	113
SO0283	192850	8132800	419	36	52	24	19	6	97
SO0284	192825	8132800	424	32	66	27	20	6	82
SO0285	192800	8132800	430	48	89	28	19	5	75
SO0286	192775	8132800	436	55	97	29	20	7	95
SO0287	192750	8132800	444	39	101	28	19	6	86
SO0288	192725	8132800	451	14	117	33	21	6	88
SO0289	192700	8132800	456	33	120	35	21	7	83
SO0290	192675	8132800	462	43	105	37	20	9	89
SO0291	192675	8132800	462	58	105	37	20	8	95
SO0292	192650	8132800	465	44	103	37	20	8	85
SO0293	192625	8132800	465	41	100	34	19	7	86
SO0294	192600	8132800	465	70	112	35	20	7	86
SO0295	192575	8132800	464	54	111	37	23	7	84
SO0296	192550	8132800	460	43	107	34	22	7	80
SO0297	192525	8132800	455	23	105	34	21	6	83
SO0298	192500	8132800	449	37	101	37	20	10	91
SO0299	192475	8132800	441	44	95	39	21	14	86
SO0300	192450	8132800	433	32	95	42	22	14	90
SO0301	192425	8132800	426	30	88	37	19	11	78
SO0302	192400	8132800	419	23	71	34	19	10	77
SO0303	192375	8132800	414	21	61	31	18	10	77
SO0304	192350	8132800	408	20	49	28	17	9	74
SO0305	192325	8132800	404	25	43	25	17	8	78
SO0306	192300	8132800	400	13	42	23	17	6	61
SO0307	192275	8132800	396	20	43	23	17	8	86
SO0308	192250	8132800	390	26	46	23	18	7	86
SO0309	192225	8132800	382	46	112	29	21	6	103
SO0310	192200	8132800	372	54	162	26	20	6	86

Perpetual Resources Ltd ASX: PEC

14

18 March 2026

==> picture [196 x 57] intentionally omitted <==

Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0311	192200	8132800	372	54	180	28	22	<5	101
SO0312	192175	8132800	371	36	98	9	18	<5	93
SO0313	192150	8132800	373	32	96	10	16	<5	94
SO0314	192160	8132900	373	31	89	9	14	<5	96
SO0315	192185	8132900	370	45	89	9	14	<5	72
SO0316	192210	8132900	378	47	96	33	22	7	83
SO0317	192235	8132900	386	29	59	26	19	8	102
SO0318	192260	8132900	391	30	52	26	19	8	93
SO0319	192285	8132900	396	27	49	27	20	9	94
SO0320	192310	8132900	400	29	56	30	21	10	92
SO0321	192335	8132900	405	31	65	32	20	11	96
SO0322	192360	8132900	410	38	75	34	22	12	89
SO0323	192385	8132900	416	38	78	36	21	13	93
SO0324	192410	8132900	421	41	88	40	22	13	89
SO0325	192435	8132900	428	39	107	42	22	14	83
SO0326	192460	8132900	435	44	113	45	23	13	96
SO0327	192485	8132900	442	39	98	39	20	12	85
SO0328	192510	8132900	449	43	112	40	22	11	93
SO0329	192535	8132900	454	40	100	36	21	13	94
SO0330	192535	8132900	454	39	99	36	21	10	91
SO0331	192560	8132900	457	43	105	35	21	9	94
SO0332	192585	8132900	458	42	112	33	21	7	99
SO0333	192610	8132900	456	33	89	31	20	7	85
SO0334	192635	8132900	454	37	108	38	21	8	77
SO0335	192660	8132900	452	44	130	45	24	9	94
SO0336	192685	8132900	449	39	112	41	22	9	89
SO0337	192710	8132900	445	36	112	42	21	12	94
SO0338	192735	8132900	440	39	109	40	22	10	100
SO0339	192760	8132900	434	42	124	40	22	11	92
SO0340	192785	8132900	427	40	113	38	22	8	94
SO0341	192810	8132900	420	36	97	32	21	7	93
SO0342	192835	8132900	416	37	73	28	22	7	94
SO0343	192860	8132900	412	31	60	27	20	6	100
SO0344	192885	8132900	408	29	58	28	21	7	116
SO0345	192910	8132900	405	27	48	27	20	7	100
SO0346	192935	8132900	402	20	43	25	20	7	119
SO0347	192960	8132900	399	19	38	24	19	7	115
SO0348	192950	8133000	396	17	40	24	19	7	112
SO0349	192925	8133000	399	16	37	23	17	7	99
SO0350	192900	8133000	401	18	40	24	18	7	123
SO0351	192875	8133000	404	21	41	25	19	8	117
SO0352	192875	8133000	404	24	47	28	20	9	125
SO0353	192850	8133000	406	22	41	26	20	8	109
SO0354	192825	8133000	409	23	45	27	20	9	115
SO0355	192800	8133000	412	25	47	28	21	10	88
SO0356	192775	8133000	416	31	52	29	20	9	93
SO0357	192750	8133000	419	32	62	30	21	9	81
SO0358	192725	8133000	423	34	60	29	21	9	83
SO0359	192700	8133000	427	31	62	26	19	7	86
SO0360	192675	8133000	432	39	97	30	21	7	98

Perpetual Resources Ltd ASX: PEC

15

18 March 2026

==> picture [196 x 57] intentionally omitted <==

Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0361	192650	8133000	438	45	124	38	23	8	95
SO0362	192625	8133000	444	39	108	35	21	8	88
SO0363	192600	8133000	449	38	101	34	19	8	84
SO0364	192575	8133000	450	38	96	39	20	12	89
SO0365	192550	8133000	447	40	104	42	22	14	88
SO0366	192525	8133000	443	40	118	46	22	14	87
SO0367	192500	8133000	437	48	129	48	23	15	87
SO0368	192475	8133000	431	49	135	53	24	15	93
SO0369	192450	8133000	426	53	136	49	25	15	92
SO0370	192425	8133000	421	48	124	45	24	13	92
SO0371	192400	8133000	415	52	122	40	24	10	88
SO0372	192400	8133000	415	50	120	40	22	9	83
SO0373	192375	8133000	409	50	100	37	23	10	86
SO0374	192350	8133000	404	46	86	34	24	10	100
SO0375	192325	8133000	399	44	72	30	22	9	87
SO0376	192300	8133000	394	42	72	31	21	8	93
SO0377	192275	8133000	388	33	64	27	19	8	87
SO0378	192250	8133000	381	44	69	30	21	7	95
SO0379	192225	8133000	370	45	121	31	19	6	85
SO0380	192200	8133000	370	45	101	10	15	<5	73
SO0381	192210	8133100	379	30	79	11	16	<5	85
SO0382	192235	8133100	370	45	104	14	18	<5	94
SO0383	192260	8133100	365	57	121	26	20	<5	80
SO0384	192285	8133100	374	51	112	31	21	7	83
SO0385	192310	8133100	382	41	66	29	22	9	90
SO0386	192335	8133100	388	37	62	28	21	10	86
SO0387	192360	8133100	392	42	71	32	22	11	87
SO0388	192385	8133100	396	42	74	34	22	12	92
SO0389	192410	8133100	400	35	73	32	20	11	83
SO0390	192435	8133100	405	46	84	38	24	14	86
SO0391	192460	8133100	410	46	111	44	23	14	82
SO0392	192485	8133100	415	43	99	43	23	14	90
SO0393	192510	8133100	422	41	108	47	21	14	88
SO0394	192535	8133100	428	43	113	50	21	14	92
SO0395	192535	8133100	428	43	114	51	21	14	91
SO0396	192560	8133100	434	40	116	49	21	14	95
SO0397	192585	8133100	437	39	128	47	20	12	87
SO0398	192610	8133100	438	49	132	50	25	14	92
SO0399	192635	8133100	436	43	127	45	22	10	91
SO0400	192660	8133100	431	43	122	39	21	8	82
SO0401	192685	8133100	425	43	107	35	21	9	79
SO0402	192710	8133100	419	42	97	34	21	8	83
SO0403	192735	8133100	415	34	76	30	19	7	84
SO0404	192785	8133100	408	31	64	30	20	8	86
SO0405	192760	8133100	411	32	57	29	20	8	107
SO0406	192810	8133100	405	23	45	25	16	6	75
SO0407	192835	8133100	402	27	49	28	19	8	115
SO0408	192860	8133100	400	28	49	29	20	8	110
SO0409	192885	8133100	397	29	51	28	20	9	116
SO0410	192910	8133100	395	30	56	27	19	8	113

Perpetual Resources Ltd ASX: PEC

16

18 March 2026

==> picture [196 x 57] intentionally omitted <==

Sample ID	mEasting	mNorthing	RL	Li (ppm)	Rb (ppm)	Cs (ppm)	Ga (ppm)	Sn (ppm)	Ce (ppm)
SO0411	192935	8133100	392	27	56	24	19	7	108
SO0412	192960	8133100	390	29	57	21	20	6	103
SO0413	192950	8133200	377	34	52	27	20	8	113
SO0414	192925	8133200	382	33	55	28	19	7	97
SO0415	192925	8133200	382	36	59	30	22	8	115
SO0416	192900	8133200	385	35	72	33	21	8	104
SO0417	192875	8133200	388	32	59	29	20	7	97
SO0418	192850	8133200	391	32	58	29	21	8	100
SO0419	192825	8133200	393	25	48	27	20	7	96
SO0420	192800	8133200	395	26	47	28	20	8	91
SO0421	192775	8133200	399	27	48	28	21	8	78
SO0422	192750	8133200	402	32	54	30	20	8	95
SO0423	192725	8133200	406	36	84	33	22	8	92
SO0424	192700	8133200	411	39	97	39	21	8	91
SO0425	192675	8133200	416	42	108	43	22	9	89
SO0426	192650	8133200	419	39	107	41	20	9	88
SO0427	192625	8133200	419	42	96	44	23	14	91
SO0428	192600	8133200	418	39	105	52	21	15	91
SO0429	192575	8133200	414	41	112	57	22	18	98
SO0430	192550	8133200	409	37	112	53	21	15	95
SO0431	192525	8133200	404	43	111	49	22	12	90
SO0432	192500	8133200	400	43	99	45	22	11	90
SO0433	192475	8133200	396	41	78	40	22	12	94
SO0434	192450	8133200	392	38	67	38	21	12	95
SO0435	192425	8133200	388	37	57	32	22	10	103
SO0436	192425	8133200	388	37	56	32	22	10	101
SO0437	192400	8133200	385	34	50	28	20	9	94
SO0438	192375	8133200	381	38	58	28	21	9	97
SO0439	192350	8133200	377	39	69	28	20	8	107
SO0440	192325	8133200	370	46	76	28	21	8	88
SO0441	192300	8133200	365	37	86	11	13	<5	88
SO0442	192275	8133200	371	40	97	12	17	<5	113

Perpetual Resources Ltd ASX: PEC

17

18 March 2026

==> picture [196 x 57] intentionally omitted <==

Appendix B: JORC Code, 2012 Edition – Table 1 report

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• Soil samples were systematically collected using industry-standard procedures, extracted from depths of approximately 20-30cm along pre- defined lines with a specified spacing. The collected samples, approximately ~0.3kg each, were sieved in the field to a size of 2mm. • Soil sampling was conducted on a predetermined 100m x 50m grid, aligning with industry standards for early-stage exploration. This grid spacing decision considered regional sampling practices, area-specific expertise, the quantity of collected samples, and the employed methods • Samples were collected by PEC employees • No new drill results are being reported in this release.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, bywhat method, etc).	• No Drilling Completed
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• No Drilling Completed

Perpetual Resources Ltd ASX: PEC

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==> picture [196 x 57] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• Samples were collected and described, this information was imported into a database. • Logging is qualitative on visual recordings
Sub- sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• Not applicable, no new drilling results being reported. • Soil samples were collected under dry conditions, placed in numbered sturdy plastic bags, and grouped in poly-weave bags for dispatch to the laboratory. • Sample sizes ranged between 0.3-0.5 kg, ensuring representative portions for accurate analysis. • PEC personnel directly delivered the samples to the laboratory, maintaining a secure and safe transport process. At SGS Belo Horizonte, sample preparation procedures encompassed sorting, drying, crushing, and milling to facilitate subsequent analyses. • During sample sorting, weights were recorded, and any discrepancies (extra samples, insufficient sample, missing samples) were documented. • Laboratory-recorded sample weights provide additional data for comprehensive analysis and reporting • QAQC protocols are adhered to. • Given the stage of the project soil sample sizes are deemed appropriate.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratorychecks)and whether	• ICP-MS/OES IMC90A package was utilised where all elements for typical pegmatite exploration was analysed. • SGS implemented its standard QA/QC protocols • Given the early-stage nature of this soil sampling program, no additional field duplicates were inserted. Standard laboratory QA/QC procedures were applied and reviewed by the Competent Person. • Checks of the analytical values of CRM’s used by the laboratory against the CRM specification sheets were made to assess whether analyses were within acceptable limits. • No geophysical tools or portable XRF instruments were utilised.

Perpetual Resources Ltd ASX: PEC

19

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==> picture [196 x 57] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	acceptable levels of accuracy (ie lack of bias) and precision have been established.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• The Competent person has verified significant results. • All recent data has been documented in digital format, verified and stored by the Company.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Samples sites were located by handheld GPS (Garmin 65s), bagged, labelled. • The accuracy is considered sufficient for an early-exploration sampling program.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• No Drilling Conducted • Compositing has not been applied. • Due to the stage of the Project the sample spacing is appropriate.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Orientation of soil sampling is appropriate for the nature of these samples, images have been provided in the body to provide context for the reader. • No Drilling Conducted.
Sample security	• The measures taken to ensure sample security.	• Samples have been securely packed in poly- weave bags and sealed with cable ties to mitigate contaminants or un-approved handling. • Samples were couriered to Belo Horizonte through PEC personnel and approved commercial couriers.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.		• No reviews or audit completed to date.
Section 2 Reporting of Exploration Results
Criteria		JORC Code explanation	Commentary
Mineral tenement and land tenure status		• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• PEC is earning up to 90% exploration rights on the following licenses. o Matrix Project: 832.169/1995 o Igrejinha Project: 830.224/2004 o Renaldinho Project: 830.851/2010
Exploration done by other parties		• Acknowledgment and appraisal of exploration by other parties.	• At Igrejinha project PEC has completed several campaigns of exploration work, including significant rock chip campaigns, mapping, soils and drilling. Refer to ASX announcements: 19/02/25, 07/03/25, 24/04/25, 28/05/25, 09/07/25, 13/08/25, 25/08/25, 02/10/25, 07/11/25, 20/11/25. • No prior formal exploration before PEC is known however there has been some artisanal mining.
Geology		• Deposit type, geological setting and style of mineralisation.	• The geological features of the areas consist of granite & sedimentary rocks from the Neoproterozoic era within the Araçuaí Orogen. These rocks have been intruded by fertile pegmatites rich in lithium, which have formed through the separation of magmatic fluids from peraluminous S-type granitoids and leucogranites associated with the Araçuaí Orogen.
Drill hole Information		• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this	• No drilling activities are being reported. • The co-ordinates of the soil samples have been provided with the relevant assay information in Appendix A.

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Criteria	JORC Code explanation	Commentary
	information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearlystated.	• No drilling activities are being reported. • Individual sample results are reported without aggregation or compositing. • All sample results have been reported including those with no significant results.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	• No drilling activities are being reported. • Samples are points and are not reflective of widths or lengths.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• Maps and images are included within body of text.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of	• All relevant and material exploration data for the target areas discussed, has been reported or referenced.

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Criteria	JORC Code explanation	Commentary
	both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• All relevant and material exploration data for the target areas discussed, has been reported or referenced.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step- out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commerciallysensitive.	• Field Reconnaissance: Continued fieldwork across new tenements to identify and prioritize targets.

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