REDCASTLE RESOURCES LIMITED — Capital/Financing Update 2026

May 19, 2026

REDCASTLE
RESOURCES LTD
ASX Announcement
20 May 2026

Placement to Raise A$2 million

Redcastle Resources Limited ("Redcastle" or "the Company") is pleased to announce that it has secured firm commitments for a placement of up to 14,285,714 shares at A$0.14 per share (New Shares) to raise A$2 million (before costs) (Placement).

The Offer Price of A$0.14 per New Share represents a 6.6% discount to the last close price, an 8.0% discount to the five-day volume weighted average trading price and a 16.5% discount to the 15-day volume weighted average trading price to 15 May 2026.

The Company will issue approximately 1,960,285 New Shares under its available placement capacity under ASX Listing Rule 7.1, and 12,004,000 New Shares under ASX Listing Rule 7.1A. In addition, the Company's Directors will participate in the Placement for an amount of A$45,000 (321,429 New Shares), subject to shareholder approval.

Redcastle will use funds from the Placement for the following:

• Expedite exploration across the Company's broader portfolio, including drilling at MCE and other targets near to the QA and RR deposits;
• Exploration including potential scout drilling of highly ranked targets in the TBone Belt;
• Costs associated with advancing the Company's near-term development pathway;
• Potential new ventures adjacent to Redcastle's existing portfolio; and
• General working capital and costs of the Placement.

The New Shares to be issued under the Placement are expected to be issued on or around 26 May 2026.

Xcel Capital Pty Ltd (Xcel) acted as sole lead manager and sole bookrunner to the Placement. Xcel will be paid a Lead Manager Fee of $50,000 + GST, and equity raising fee equal to 6% of the aggregate amount raised under the Placement.

This announcement has been approved for release to ASX by the Board of Redcastle Resources Ltd

-ENDS-

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REDCASTLE

RESOURCES LTD

For further information, please contact:

Ray Shaw
Chairman
T +61 8 6559 1792
E: admin@redcastle.net.au

Ron Miller
Director
T +61 8 6559 1792
E: admin@redcastle.net.au

Sam Burns
Six Degrees Investor Relations
T +61 (0) 400 164 067
E: sam.burns@sdir.com.au

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REDCASTLE
RESOURCES LTD

Forward-Looking Statements

Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Redcastle operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Redcastle's control. No decision to proceed to production has been made, and any such decision will be subject to the outcomes of detailed feasibility studies.

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