RESOLUTION MINERALS LTD — Capital/Financing Update 2025

Oct 21, 2025

22 October 2025

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RML FAST-TRACKS DOWNSTREAM ANTIMONY STRATEGY & APPOINTS TRIBECA CAPITAL AS CORPORATE ADVISER TO STRENGTHEN U.S. CRITICAL MINERAL INDEPENDENCE

High-Grade Samples Dispatched to Kingston Processing Metallurgy (“KPM”) to Define a Concentration Flowsheet to Produce 100% American-made Antimony

Highlights

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• RML is fast-tracking its downstream strategy to align with U.S ambitions to secure domestic critical-mineral supply chains, commencing detailed metallurgical studies on antimony ore from its Horse Heaven Gold-Antimony-Silver-Tungsten Project in Idaho.

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• The Company has engaged Kingston Process Metallurgy ( “KPM” ), leading chemical process development firm, to undertake analytical, mineralogical and bench-scale concentration testwork on high-grade Antimony Ridge samples.

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• This work will define the optimal concentration and processing pathway to guide future bulk sampling, engineering design and early-stage product specifications for U,S antimony markets.

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• Tribeca Capital has been appointed as a corporate adviser to support RML’s U.S. expansion. Tribeca will open RML to its extensive global investor, broker and top-tier institutional network.

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• As a strategic adviser, Tribeca Capital will promote RML in further developing its U.S. critical minerals strategy, including by identifying new technologies and further potential acquisition opportunities, adding highly skilled personnel to its leadership and executive team, government engagement, and assisting with overall business development for RML.

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• Tribeca Capital will also assist with RML’s upcoming Nasdaq listing, which is on track for early 2026, with the initial F-20 Form (NASDAQ prospectus) first draft completed. U.S. lawyers and advisers have been engaged.

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• Recent surface sampling from Antimony Ridge returned exceptional grades of up to 49.8% antimony ( “Sb” ), 1,420 g/t silver ( “Ag” ) and 3.12 g/t gold ( “Au” ), confirming the potential to deliver premium-grade feedstock.

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• Situated in Idaho’s Stibnite mining district, which is one of America’s most historically significant belts, Horse Heaven is strategically positioned to contribute to the nations goal of rebuilding a resilient domestic United States critical minerals supply chain.

Details

Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF) ( “Resolution” or the “Company” ) is accelerating its downstream strategy by engaging Kingston Process Metallurgy Inc. (“KPM”) (www.kpm.ca), to deliver critical characterisation and concentration testwork on high-grade antimony samples from its Horse Heaven Gold-Antimony-Silver-Tungsten Project in the Yellow Pine Mining District, Idaho, USA ( “Horse Heaven ” or the “Project” ) (Figure 1).

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This work is strategically aligned with the U.S government’s drive to rebuild secure domestic supply chains for critical minerals, of which antimony is a key component.

Metallurgical Program

Samples collected from historical trenches at Antimony Ridge (where recent rockchip samples have returned grades of up to 49.8% Antimony)[1] are being shipped to KPM’s Ontario facility. Examples of samples and location are shown in Figures 2,3 & 4.

Under the program, the work will focus on:

• Chemical assays and multi element analytical characterisation via ICP-OES to quantify antimony and for impurity screening;

• Mineralogical phase identification analysis via XRD and Mineral Liberation Analysis (MLA) including texture/liberation studies; and

• Sample concentration and processing work to support evaluation of optimal antimony processing pathways.

Results from this program will define the most effective concentration pathway, providing essential data for bulk sampling, detailed engineering and early product-specification work.

Strategic Adviser to RML, Brett Lynch, stated:

“ Partnering with KPM allows us to rapidly advance our understanding of the detailed chemical and mineralogical characteristics of Horse Heaven Antimony ore required to design a robust concentration flowsheet. These results will guide our next stages of metallurgical testwork and help frame early product specifications for future engineering studies. KPM is a highly-qualified and experienced partner to assist us with this process .”

Strategic Rationale

Resolution Minerals is aiming to become one of the first U.S. suppliers of antimony to the U.S. Department of War. The engagement of KMP to complete metallurgical testwork and flow sheet development will underpin Resolution’s downstream antimony supply strategy in the U.S. by bringing the past-producing Horse Heaven asset back into production, and re-commence supplying the U.S. Government with critical minerals again.

Specifically, the work undertaken by KMP will open a pathway for Resolution to:

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• Fast-track antimony production to help bridge U.S. national security supply chain requirements

1 Resolution News Release of 15 September 2025 (Figure 2 & 3a and Appendix A) .

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• Validate and demonstrate RML’s production capability to U.S. Government bodies, which may assist with securing non-dilutive funding and fast-tracking of permitting

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• Explore potential partnerships with other antimony miners in the region to collaborate on production and/or processing opportunities

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• Establish RML as a 100% American-made producer of military grade and energy grade antimony for the White House defense and energy agenda

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• Provide a robust basis for potential commercial, M&A or other collaborative business development opportunities

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• Establish Resolution Minerals and the Horse Heaven asset, as a fundamental link in the U.S. critical mineral supply chain

Sample preparation and dispatch to KPM are underway with analytical and mineralogical results expected over the coming weeks. As data become available, these will be released to the market.

As the Company is progressing a multi stage testwork program, we expect additional results from bench scale concentration trials and subsequent flowsheet development studies.

About Kingston Process Metallurgy Inc. (KPM)

KPM (www.kpm.ca) is a Canada based (Kingston, ON and Montreal, QC) process development firm with integrated analytical, laboratory and pilot scale capabilities serving chemical, mining, and metallurgical industries. Its multidisciplinary team of about 130 people supports material characterization, custom testing, and process development/optimization for complex metallurgical systems. This includes integrated high-level capital and operating cost estimation which helps guide process development work.

KPM is active with major companies around the world to help develop flowsheets for resource recovery and is currently piloting a number of processes. It also works with start-up companies and has helped several companies to grow from inception to commercial.

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Figure 1 : Horse Heaven Project location plan, highlighting the location of the two current major antimony-gold-silvertungsten targets, the Golden Gate Target where phase 1 drilling is currently underway, and the Antimony Ridge Target. Also highlighted is the Stibnite Gold Antimony Project, which is only 6km east of Horse Heaven.

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Cautionary note: Historical results and references to past production are drawn from prior operator and third party reports and are not reported under current JORC/NI 43 101 standards; they should not be relied upon as current estimates of quantity or grade. (see RML ASX announcement of 11 June 2025, “Agreement To Acquire Major Drill-Ready AntimonyGold-Tungsten Project In Stibnite Mining District, Idaho, USA”).

Tribeca Capital’s Appointment as Corporate Adviser

Tribeca Capital has been appointed as Corporate Adviser to assist RML with further developing its U.S. critical minerals strategy, including:

• Downstream strategy : identifying new technologies and processes for processing, metallurgy & refining output material (antimony, tungsten, gold, silver)

• Offtake partners : introducing potential partners & sales agreements

• Further acquisition opportunities : identifying new business opportunities, including but not limited to additional project areas, material stockpiles, processing facilities, and vertical integration to secure downstream supply chain market share.

• Corporate M&A opportunities : identifying, exploring and advising on potential corporate partnerships and takeover opportunities that may arise.

• Adding highly skilled personnel : to RML’s leadership and executive team to facilitate exploration activities and development of the Company’s downstream strategy.

• Government engagement : Tribeca boasts an extensive network of relationships within the Australian and U.S. political spheres that can be leveraged to assist RML in securing fast-tracked permitting and potential U.S. Government funding.

• NASDAQ listing : Tribeca Capital will also assist with RML’s upcoming Nasdaq listing, which is on track for early 2026. The initial F-20 Form (NASDAQ prospectus) first draft has been completed and U.S. lawyers and advisers have been engaged.

Raymond Gonzalez, Managing Director Corporate Advisory, Tribeca Capital, commented:

“We are extremely excited to be partnered with Resolution Minerals on their journey within the US. Resolution has real potential to be one of the key leaders within the US in meeting the Trump Administration’s critical minerals national security agenda. In a very short time RML has already begun completing major milestones in setting up its Horse Heaven project to become one of the first producing critical minerals assets in the US to supply the US Government with output. I’ve been extremely impressed with the company’s ability to secure these past-producing tungsten, antimony and gold mines, and the work completed to date that has brought RML to the front of the race in developing a supply chain solution for the White House.”

Next Steps

Resolution is fully focused on bringing its Horse Heaven asset back into production on an expedited timeline. It is progressing and evaluating several key initiatives, including:

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• Non-dilutive U.S. Government funding programs and FAST-41 permitting to enable near-term production from Horse Heaven.

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• Exploring potential commercial and strategic partnerships with other key critical mineral developers in the region.

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• U.S. and Australian Government engagement to align Resolution’s supply chain strategy with U.S. and allied national security objectives.

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• Metallurgical testing and flow sheet development (and process refining) which will underpin the pathway to antimony production by Resolution

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• Further exploration activities at Horse Heaven, including drilling, sampling and analysis

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• Potential expansion of the Horse Heaven project area, including potential commercial and collaborative opportunities

About the Horse Heaven Gold-Antimony-Silver-Tungsten Project

Horse Heaven is a brownfields Gold-Antimony-Silver-Tungsten Project (Au–Sb–Ag-W) located in the Yellow Pine Mining District of Valley County, central Idaho (~5,644 ha; ~729 federal lode claims). The Project shares its eastern boundary with Perpetua Resources’ Stibnite Gold– Antimony Project. Mineralisation occurs along two principal corridors known as the Antimony Ridge Fault Zone and the Golden Gate Fault Zone, which are host to documented antimony, gold, tungsten and silver in altered granodiorite and structurally controlled zones.

About Antimony Ridge – At Horse Heaven

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The Antimony Ridge Fault is a N-NE oriented splay of the Golden Gate Fault Zone, and is a shear-hosted antimonygold-silver mineral system that is exposed at surface along 1,000 metres of historical trenching (see adjacent photo). Antimony Ridge is a shear-hosted disseminated oxide gold system over-printed by a secondary antimony-silver system. To support US military demand, in the World I, World II and through to the 1950s antimony was produced at Antimony Ridge via a sequence of three trenches extending approximately 1,000m in length and over 300m in vertical height. While no accurate production records exist, we understand high-grade ore from veins was shipped and processed off-site. A recent rockchip sample identified by Resolution demonstrated very high grades, measuring 49.8% Antimony, 1,420 g/t Ag and 3.12 g/t Au. (see Resolution News

Release of 15 September 2025- Figure 2 & 3a and Appendix A). Prior trench rock chip results, have graded up to 5.9g/t Au, 19% Sb and 367g/t Ag and are located centrally within this expanded NE-SW trending zone of Sb-Ag-Au mineralisation (see Resolution News Release of 11 June 2025, Figure 6 and Appendix C) . There has been very limited historical drilling, which was measured for gold only, which demonstrates along-strike continuity and the system is untested at depth.

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10 cm
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Figure 2 : An example of sample material destined for metallurgical assessment. This rock sample, collected from a historical trench located at the Antimony Ridge Target, shows two rock specimens comprising the grey-silver coloured metallic mineral stibnite. Stibnite is an antimony sulphide ore mineral, containing 71.7% mol weight antimony. The stibnite in this rock specimen is crystalline in veins and brecciated veins, containing between an estimated 25% and 35% stibnite. Visual estimates potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. A sample similar to this photographed rock specimen graded 49.8% Sb and 1,420 g/t Ag and 3.12 g/t Au (see Resolution News Release dated September 15, 2025).

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Figure 3 : A rock sample, collected from a historical trench located at the Antimony Ridge Target, shows an example of sample material destined for metallurgical assessment. The rock sample exhibits a vein bearing a crystalline, grey-silver coloured metallic mineral stibnite containing between an estimated 20% and 30% stibnite. Stibnite is an antimony sulphide ore mineral, containing 71.7% mol weight antimony. Visual estimates potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. A sample (Rock chip sample 329015) similar to this photographed rock specimen graded 19.15% antimony, 70.5g/t silver with 4.65g/t gold over 1m (see Resolution News Release of 11 June 2025, Figure 6 and Appendix C “Agreement To Acquire Major Drill-Ready Antimony-Gold-Tungsten Project In Stibnite Mining District, Idaho, USA”).

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Figure 4 : A historical trench located at the Antimony Ridge Target, approximately 300 metres long, which will provide some of the sample material destined for metallurgical assessment. The photo corresponds to the Lower Trench in Figure 3 of Resolution News Release of 24 September 2025, “Exceptional Rockchip And Soil Results Received For Antimony Ridge”).

About Resolution Minerals (RML)

Resolution Minerals Limited (ASX: RML; OTCQB: RLMLF) is focused on critical defense minerals at a critical time, together with gold and silver, aiming to deliver a solution for domestic antimony supply to the US defense industry. The Horse Heaven Gold-Antimony-Silver-Tungsten project in Idaho, is Resolution's flagship project, adjoining Perpetua's US$2.8 billion market value Stibnite antimony-gold project. The company is led by an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience which equips Resolution Minerals with the tools to meet the changing demands of the mining markets. The Company’s portfolio includes the Horse Heaven Gold-Antimony-Tungsten-Silver Project in Idaho, USA, and interests including the 64North Project in Alaska and the Drake East and George antimony, gold and uranium projects in Australia.

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Authorised for release by the board of Resolution Minerals Ltd.

For further information, please contact Aharon Zaetz Executive Director.

Aharon Zaetz Jane Morgan Executive Director Investor Relations Resolution Minerals Ltd Jane Morgan Management M: +61 424 743 098 M: +61 405 555 618 ari@resolutionminerals.com jm@janemorganmanagement.com.au

Follow us:

Website: www.resolutionminerals.com

LinkedIn: @Resolution Minerals X: @Resolution_LTD

Forward Looking Statements

This announcement may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same. These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the acquisition and divestment of projects, joint venture and other contractual risks, metal prices, exploration, development and operating risks, competition, production risks, sovereign risks, regulatory risks including environmental regulation and liability and potential title disputes, availability and terms of capital and general economic and business conditions.

Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company, or any of its affiliates or persons acting on its behalf. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.

The Company confirms it is not aware of any new information or data that materially affects the information cross referenced in this announcements cross referenced in this release. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.

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