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RESOLUTION MINERALS LTD Capital/Financing Update 2026

Mar 25, 2026

65717_rns_2026-03-25_1c60122e-77a8-416a-94b9-3dabc78ff774.pdf

Capital/Financing Update

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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EXCEPTIONAL TUNGSTEN GRADE IDENTIFIED IN STOCKPILE MATERIAL AT RECENTLY ACQUIRED JOHNSON CREEK TUNGSTEN AND ANTIMONY MILL

PRELIMINARY SAMPLING OF HISTORICAL STOCKPILE PROVIDES MOMENTUM FOR FAST-TRACKING OF JORC-CODE UPDATE & DEVELOPMENT OF STOCKPILE

HIGHLIGHTS

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  • Assay results of a late-2025 sampling program of historical stockpiles returns high-grade tungsten, material levels of gold and low levels of impurity elements.

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  • Stockpiles containing ore material from the historical Golden Gate Tungsten Mine have remained untouched since 1980s at Resolution’s newly acquired Johnson Creek Tungsten and Antimony Mill.

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  • Mini-bulk-sample of 93.6kg comprising composite of six samples of stockpile material contains 1.85% WO3 and material levels of gold at 0.11g/t.

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  • Independent mineralogy study identifies scheelite as the predominant WO3 ore mineral.

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  • Independent mineralogy study reveals low levels of impurities, including but not limited to arsenic (As): 97 ppm; molybdenum (Mo): below detection; and phosphorus (P): below detection

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  • Same independent mineralogy study identifies quartz (>90%) as the predominant gauge mineral (non-ore) with minor gauge minerals calcite (trace levels) and potassic-mica (trace levels).

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  • A more detailed stockpile sampling and assay testing program to upgrade the stockpile to JORCcompliancy is under development. The intention is to fast-track the tungsten potential of the stockpiles.

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  • The U.S. government is pro-actively working to rebuild its tungsten supply chain which is part of broader US$12 billion policy initiative to stockpile critical minerals to reduce off-shore supply dependency.

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  • Ongoing global conflicts and tight supply has contributed to tungsten prices surging from under US$400 to US$2,200/metric ton currently.

Resolution Minerals Ltd (RML or Company) (ASX: RML; OTCQB: RLMLF) is pleased to announce the assay and mineralogy results of a preliminary mapping and sampling program of stockpiles at its recently acquired Johnson Creek Tungsten and Antimony Mill. The fieldwork was completed in late 2025.

The fieldwork, described in more detail below, is the initial part of the broader campaign to bring ore stockpiles into JORC-code 2012 compliancy. The aim of the Company is to fast-track potential tungsten production from the stockpile to take advantage of US critical minerals policies.

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Resolution Minerals Ltd (ABN: 99 617 789 732) Address: Level 21, 91 King William Street, Adelaide South Australia 5000 Email: [email protected] Website: https://resolutionminerals.com/

ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Resolution Minerals Executive Director, Aharon Zaetz, commented:

“Confirming a high-grade 1.85% WO₃ result from the Golden Gate stockpile is a significant milestone for Resolution Minerals. The combination of strong grade, scheelite-dominant mineralisation and low impurity levels highlights the potential for a simple, low-cost processing pathway.

Furthermore, given that Golden Gate has previously been mined for tungsten, and has supplied the US Government with critical metals for several war efforts during the 20[th] century, this presents a compelling opportunity to fast-track the stockpiles should further planned work prove positive.”

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Figure 1: Project location plan showing the Johnson Creek Mill where the stockpiles are located, and the major prospects of the Horse Heaven Project, Golden Gate and Antimony Ridge.

Mapping and Sampling Program

Stockpiles located at the Johnson Creek Tungsten & Antimony Mill were mapped and sampled by the Company in two separate fieldwork programs in 2025. The stockpiles are of interest to the Company because the stockpile material is derived from the tungsten mine located at Golden Gate.

The field program involved mapping the surface of the stockpiles and the collection of representative samples for analysis. The exposed coarse component of the stockpiles (Figure 2 Left) was mapped as predominantly granodiorite. Using a handheld fluorescent lamp, scheelite was identified in association with the granodiorite, occurring as veins and disseminations (Figure 2 Right). The stockpile material is characteristic of the mineralised granodiorite at the historical Golden Gate Tungsten Mine.

Six samples were collected from different parts of the stockpiles (Table 1, and Figures 3 and 4) using both random selection and blue-light selective methods.

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Figure 2: LEFT: A photo of one of the historical stockpiles at Johnson Creek Tungsten & Antimony Mill that was mapped and sampled by RML field personnel. The stockpile has remained untouched since the 1980s following the cessation of mining activities at Golden Gate that decade. As reported in previous ASX announcements, the stockpile contains ore-material believed mined from the Tungsten Mine at Golden Gate. RIGHT: Blue-light (ultraviolent lamp) photo of part of the stockpile pictured left. Under ultraviolet light the WO3 ore mineral scheelite reflects vivid white/light blue. By virtue of this reflectance, this photo shows tungsten mineralisation. This mineralisation is in the form of vein and disseminated scheelite with an estimated abundance of between 1% and 30% of the individual rocks in the photo. The tungsten assay result of the mini-bulk sample (described in text), includes a portion of the pictured material and other material from five other locations, is the subject of this announcement. Also note that the scheelite mineral contains 80.52% WO3 molecular weight.

Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

The six samples were then amalgamated off-site with no sample sub-sampling and/or sample weight reduction. A subsequent mini-bulk, composite, sample had a total weight of 93.6kg.

Sample Number Plan Sample
Reference
Number

DATUM
Easting
(mE)
Northing
(mN)
Elevation
(feet.asl)
Sample
Weight
(Kg)
Stcokpile Sample Description
Golden Gate W - PN000217407 001 WGS84 Zone 11 619479 4976203 5,118 15.6 Granitic rock with visible scheelite(veins,disseminations)
Golden Gate W - PN000217408 002 WGS84 Zone 11 619483 4976201 5,122 16.4 Granitic rock with visible scheelite(veins,disseminations)
Golden Gate W - PN000217409 003 WGS84 Zone 11 619487 4976199 5,115 16.4 Granitic rock with visible scheelite(veins,disseminations)
Golden Gate W - PN000217410 004 WGS84 Zone 11 619488 4976185 5,115 17.7 Granitic rock with visible scheelite(veins,disseminations)
Golden Gate W -PN000217411 005 WGS84 Zone 11 619491 4976183 5,121 16.6 Granitic rock with visible scheelite(veins,disseminations)
Golden Gate W - PN000217412 006 WGS84 Zone 11 619492 4976178 5,114 10.9 Granitic rock with visible scheelite(veins,disseminations)

Table 1: Stockpile sample location data and descriptions.

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Figure 3: Mill/Stockpile and sample location plan.

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Figure 4: Google Earth image showing the Mill/Stockpile and sample locations.

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Assay Results

The mini-bulk sample of the stockpile (described above) was sent to Independent Metallurgical Operations Pty Ltd (IMO) for the primary initial purpose of multi-element geochemical analysis and mineralogical assessment.

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The tungsten grade of the mini-bulk sample is 1.85 %

WO3 (Table 2). The tungsten ore mineral is predominantly the calcium tungstate mineral, scheelite (CaWO4), an important tungsten ore mineral.

Analysis of other elements indicates that metals that may be considered as impurities in tungsten ore occur at very low grades. These include As: 97ppm, Mo: below detection, P: below detection, Iron (Fe): 0.48%, and manganese (Mn): 263ppm (Table 2). Refer to Appendix 1 for a copy of extracts of the independent IMO report.

Additional mineralogical studies indicate that the nonore, or gangue minerals, are predominantly quartz (>90%), calcite (trace levels) and K-micas (trace levels).

Table 2: Assay results of mini-bulk sample.

Background Information about the Stockpiles

Tungsten exploration and development at Golden Gate began in the late 1940s, when scheelitebearing veins were discovered. An open pit tungsten mining operation began at Golden Gate in the early 1950s.

Tungsten ore from Golden Gate was initially processed at the Stibnite Mill (not an asset of the Company), until its closure in 1952. Historical records of this phase of production indicate that 1,814 tons of tungsten were mined and milled at the Stibnite Mill and that this material had an average grade of 1.5% WO3.

Following the closure of the Stibnite Mill, a custom milling operation, known as the Johnson Creek Mill, was built on 15 acres of land immediately adjacent to what is now known as the Horse Heaven Project (Figure 1).

In 1973, 227 tons of tungsten ore was mined from the open cut operation at Golden Gate and processed at the Johnson Creek Mill. It had an average grade of 2.03% WO3. In 1977, a further 456.6 tons of ore were mined and stockpiled. This ore material was reported to have an average grade of 1.8% WO3.

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In 1979 and 1980, underground mining at Golden Gate began, and a reported 1,905 tons of mill feed was produced and stockpiled at the Johnson Creek Mill.

The estimated approximate 2,000 tonnes of Golden Gate tungsten ore now comprising the stockpiles at the Johnson Creek Mill comprise “leftover” ore-feed from the above-described phases of past mining.

The Johnson Creek Mill tungsten stockpiles have remained undisturbed (since 1980’s) as evidenced by the regrowth of trees and other vegetation on the slopes of the stockpiles (Figures 2 and 4) .

Cautionary Note: The above production data (tons/tonnes and grade of ore material from the Golden Gate tungsten mine) is both an Historical Estimate and a Foreign Estimate. The Competent Person has not done sufficient work to classify the Historical Estimate and the Foreign Estimate as a mineral resource or mineral reserve in accordance with the JORC (2012) Code. It is uncertain that following evaluation and/or further exploration work (as described above) that the Historical Estimate and the Foreign Estimate will be able to be reported as a mineral resource or mineral reserve in accordance with the JORC (2012) Code.

In addition, the Competent Person has not done sufficient work to determine whether the Stockpile has the potential to become a mineral resource.

The Competent Person is aware that the Company plans to conduct further exploration at the stockpiles to bring the stockpile up to JORC-code standard.

It is due to the above caution, and corollary limitations, that the Company is seeking to do such work as to enable the stockpiles to be upgraded to JORC-standard.

Importance of Results

The grade of the mini-bulk-sample of 1.8% WO3 is entirely consistent of the historical grades of the past production. As previously released to the market (and described above) historical data indicates that the stockpile comprises approximately 2,000 tonnes of tungsten at a grade of 2.0% WO3.

Furthermore, the style of mineralisation (scheelite-bearing veins and disseminations in granodiorite), of the ore material of the stockpiles is the same as the ore material remaining at the Golden Gate mine working and exposed on in-situ mine exposures. The mineral assemblage (scheelite, quartz, calcite and K-micas) of the stockpile sample, itself representative of the stockpile, is also characteristic of the insitu rock and float material at the old tungsten mine at Golden Gate.

The extension and further application of these preliminary data is the assessment as to whether the stockpiles may be amenable to JORC-standard upgrade. Obtaining an indicative (surface) grade; identifying the ore and gangue mineral assemblages; determining the levels of potential impurity elements, is the initial phase of this proposed upgrade.

Other grade and metallurgical considerations that would be drawn from and are germane to a JORCcompliant stockpile include the following observations:

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  • According to the US Geologic Survey, the typical grade of Tungsten mined globally in underground mines is between 0.15% and 0.20% WO3;

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  • Scheelite (CaWO4) is well understood metallurgically, and generally presents an easier process for tungsten production than other tungsten ore types.

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  • High quartz content is a positive for grindability (brittle) and potential for liberation of scheelite at coarser grind size.

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  • The absence of significant arsenic, phosphorous and molybdenum simplifies the production of high grade concentrate capable of meeting ammonium para-tungstate (APT) refinery specifications.

Acquisition of Stockpiles

RML acquired the Johnson Creek Tungsten & Antimony Mill, associated infrastructure, and ore stockpiles, believed to contain approximately 2,000 tonnes of tungsten ore previously mined from Golden Gate early this month (ASX Announcement: 2 March 2026 “ Resolution Completes Acquisition of Processing Mill and Tungsten Stockpiles to Advance Potential U.S. Antimony and Tungsten Production. ”)

The above previous ASX announcement followed an earlier ASX announcement (23 January 2026

Resolution to Advance and Develop the Past-Producing Golden Gate Tungsten Mine & Stockpiles .”)

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Figure 5: LEFT: Photo from the ASX Announcement of 2 March 2026 showing the Johnson Creek tungsten and antimony Mill. Refer also to Figure 3. RIGHT: Photo from the ASX Announcement of 2 March 2026 showing the adit of the closed tungsten mine at Golden Gate.

Next Steps for the Johnson Creek Stockpiles

The next phase of exploration at the Johnson Creek stockpiles will include, but will not be limited to, a detailed sampling program to sample older (sub-surface) parts of the stockpile, and a volumetric survey to quantify the cubic metres. Specific gravity analysis will allow tonnage conversations for the volumetric data.

Results from the program will allow RML to potentially upgrade the stockpiles to JORC-code compliancy. options for direct offtake of the stockpiled tungsten in the near term whilst the process flowsheet is being developed in parallel.

More broadly, the positive results subject of this announcement, align very well with RML’s objective of becoming one of the few U.S.-focused critical minerals companies with in-house processing capability for antimony, tungsten, and gold.

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Authorised for release by the board of Resolution Minerals Ltd.

For further information, please contact:

Aharon Zaetz Jane Morgan Executive Director Investor Relations Resolution Minerals Ltd Jane Morgan Management M: +61 424 743 098 M: +61 405 555 618 [email protected] [email protected]

Competent Person’s Statement

The information in this report that relates to exploration results, is based on and fairly represents information reviewed and compiled by Mr Ross Brown BSc (Hons), M AusIMM, Principal Geologist/director of exploration consulting firm, Riviere Minerals Pty. Ltd, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Brown has sufficient experience, which is relevant to the exploration activities, style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Riviere Minerals is consulting to Resolutions Minerals Limited and consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.

About Rivere Minerals

Riviere Minerals Pty Ltd (“ Riviere ”) is a resource consultancy specialising in project evaluation and portfolio management. Its principal geologist and sole director, Mr Ross Brown, has nearly 40 years of experience in mineral exploration worldwide. Through Riviere, Mr Brown also provides assistance in exploration planning, execution and ASX reporting.

JORC disclosure

The Company confirms it is not aware of any new information or data that materially affects the results cross referenced in this announcement and further “Agreement to Acquire Major US Antimony Project and Placement” on 11 June 2025, “RML to Acquire Processing Mill and Tungsten Stockpiles” on 31 October 2025, “Resolution to Advance Golden Gate Tungsten Mine Stockpiles” on 19 January 2026 and “Resolution to Advance Golden Gate Tungsten Mine Stockpiles” on 23 January 2026. 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. The Company is not in possession of new information or data in relation to historical estimate that materially impacts the reliability of the estimate or the Company’s ability to verify the estimate and the supporting information in relation to the historical estimate reported as “Resolution to Advance Golden Gate Tungsten Mine Stockpiles” on 23 January 2026 continues to apply and has not materially changed.

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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.

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Appendix A: Extracts from the IMO Report (Memorandum #2) of 23 March 2026

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Appendix B: JORC Code, 2012 Edition

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

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.

This
announcement
includes
Exploration
Results for 6 rock chip
samples taken from two
stockpiles located at the
Johnson Creek Tungsten &
Antimony Mill.

The six samples have
different
total
weights,
provided in Table 1 and in
Appendix 1.

The
stockpile
samples
were collected by grab
sample techniques from
different
parts
of
the
stockpile.

No attempt was made to
quantify the total tonnage
of the stockpile at the time
of the sampling.

The six samples were
amalgamated into a single
composite sample, which
was
subsequently
submitted for geochemical
and mineralogical analysis,
the results of which are the
subject
of
this
announcement.
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, by what method, etc). _

Drilling is not discussed in
this release.
Drill sample
recovery

Method
of
recording
and
assessing
core
and
chip

Weights of the six samples
were
recorded
and
provided in Table 1 and in

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Criteria JORC Code explanation Commentary
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.
Appendix 1. Recoveries
are strictly not relevant to
this sample program.

The six samples of the
stockpile
are
deemed
representative
of
the
surface
material
of
stockpile. No attempt to
sample below the surface
of the stockpile was made.
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.

The rocks comprising the
six
samples
were
lithologically described.
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.

There
were
no
sub-
sampling techniques used
in the generation of the
stockpile assay results.

The six individual stockpile
samples were mixed and
made into a composite
(single) sample.

The average weight of the
six stockpile samples was
15.6kg.
The
composite
sample weight was 93.6kg.

The composite sample is
considered appropriate for
the purpose of the initial
grade assessment of the
stockpile. Notwithstanding
this,
a
more
detailed
sampling
program
and
quantity
survey
of
the
stockpile is currently being
arranged.
Quality
of
assay
data
and

The
nature,
quality
and
appropriateness
of
the
assaying
and
laboratory
procedures used and whether

Laboratory
techniques
were as follows:
Gold assays were carried
out
using
Fire
Assay

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Criteria JORC Code explanation Commentary
laboratory
tests
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 laboratory checks) and
whether acceptable levels of
accuracy (i.e. lack of bias) and
precision
have
been
established.
Fusion
and
Atomic
Absorption
Spectroscopy
Finish (Proprietary code:
AA-23).
Multi-element assays were
carried out using Nitric
Aqua Regia Digestion and
Inductively
Coupled
Plasma - Atomic Emission
Spectroscopy (Proprietary
code: ME-ICP41).
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
nature
of
the
verification of assaying and
laboratory
was
not
conducted as this is the
initial sampling survey of
the stockpiles.
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.

All data points (stockpile
sample
locations)
were
collected using handheld
GPS programmed into the
local coordinate system.
The accuracy of the GPS is
in line with best practice
standards.
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.

The six stockpile samples
were spaced as evening
across the stockpile as
possible.

No sample was taken other
than the surface material
exposed on the slopes of
the stockpile.

There
are
no
Mineral
Resource
and
Ore
Reserve
estimation
procedure(s)
and

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Criteria JORC Code explanation Commentary
classifications applied to
this data.
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.

With
reference
to
the
orientation of the stockpile
sample data, the stockpile
is considered a mix of ore
material
mined
and
dumped
into
a
homogenous pile. Grades
are not expected to be the
uniform
throughout
the
stockpile,
hence
the
planning of a more detailed
sampling program.
Sample
security

The measures taken to ensure
sample security.

The competent person is
that the sampled stockpile
is
located
outside
the
Company’s project area.

The Competent Person is
unaware of measures were
taken
to
secure
the
stockpile samples.
Audits
or
reviews

The results of any audits or
reviews of sampling techniques
and data.

The competent person is
aware that no audits or
reviews
for
sampling
technique and data, other
than its own review, were
undertaken.

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ASX: RML | OTCQB: RLMLF ASX Announcement 26 March 2026

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Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

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,
past
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.

This
announcement
discussed
exploration
results
generated
through
sampling
conducted
at
the
Company’s
newly
acquired
Johnson
Greek Tungsten and
Antimony Mill, which is
located close to but
outside the Company’s,
Horse Heaven project,
itself located in Idaho
USA.
Horse
Heaven
comprises six hundred
and ninety-nine (699)
U.S.
Federal
lode
mining claims covering
5,644
hectares
and
includes six hundred
and eighty-nine (689)
mining claims and ten
lode
mining
claims
referred
as
the
Oberbillig Group.

The competent person
understands that the
mining claims are all in
good standing.

The competent person
understands that the
acquisition
of
the
Johnson
Greek
Tungsten and Antimony
Mill is unconditional.
Exploration
done by other
parties

Acknowledgment and appraisal
of exploration by other parties.

The results pertaining to
mapping and sampling
were conducted by the
company. The assay
and mineralogy results
reported in this release
wereperformed byIMO.
Geology
Deposit type, geological setting
and style of mineralisation.

The project area
is
dominated
by
Cretaceous-aged
granitic rocks relating to
intrusive
phases
associated
with
the
Atlanta Lobe of the
Idaho Batholith. These
largely
granodiorite
rocks
have
intruded

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Criteria JORC Code explanation Commentary
Neoproterozoic-aged
metasediments,
comprising
quartzites
(which are dominant)
calc-silicates,
marble
and black shale. The
area and broader region
is affected by broad
reginal folding and N-S,
NNE-SSW, and NE-SW
faults.

Gold,
antimony,
tungsten
and
silver
mineralisation
is
associated
with
hydrothermally altered
and
fractured
granodiorites.
Drillhole
Information

A summary of all information
material to the understanding of
the exploration results including
a tabulation of the following
information
for
all
Material
drillholes:
o
easting
and
northing
of
the
drillhole collar
o
elevation
or
RL
(Reduced Level –
elevation
above
sea level in metres)
of
the
drillhole
collar
o
dip and azimuth of
the hole
o
down hole length
and
interception
depth
o
hole length.

If
the
exclusion
of
this
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.

Drilling is not discussed
in this announcement.
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.

The stockpile sample
assay result is a single
result of a composite
sample comprising six
original
samples
collected from different

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Criteria JORC Code explanation Commentary

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 clearly stated.
parts of two adjacent
stockpiles.
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 drillhole 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’).

With reference to the
orientation
of
the
stockpile sample data,
the
stockpile
is
considered a mix of ore
material
mined
and
dumped
into
a
homogenous
pile.
Grades
are
not
expected
to
be
the
same throughout the
stockpile. The company
is
planning
a
more
detailed
sampling
program to obtain a
better indication of the
grade of the stockpiles.
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 drillhole collar
locations
and
appropriate
sectional views.

Plans are provided with
geolocation information
(coordinates,
northing
and scale bar). Legends
are included within each
figure
(where
appropriate) and when
additional explanation is
required, this is given to
the figure caption.
Balanced
reporting

Where
comprehensive
reporting
of
all
Exploration
Results
is
not
practicable,
representative reporting of both
low and high grades and/or
widths should be practiced to
avoid misleading reporting of
Exploration Results.

The competent person
of this announcement
considers
the
announcement to be fair
and balanced.
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;

There is no material
other data associated
with
new
exploration
results
in
this
announcement.

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Criteria JORC Code explanation Commentary
metallurgical test results; bulk
density,
groundwater,
geotechnical
and
rock
characteristics;
potential
deleterious or contaminating
substances.
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
commercially sensitive.

Follow-up
work
is
required to bring the
stockpile into JORC-
code 2012 compliancy.
Work includes, but is not
limited
to:
detailed
survey of the stockpile
to obtain a detailed
volume;
detailed
sampling
of
the
stockpile
to
include
additional
surface
sampling and “interior”
sampling,
specific
gravity analysis. The
aim is to obtain an
average
grade
and
tonnage of the stockpile.

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