RINCON RESOURCES LIMITED — Capital/Financing Update 2026

Mar 1, 2026

2[nd] March 2026

Successful Completion of $3.1 Million Placement

Larger Drill Program Planned for Telfer South Gold-Copper Project

Highlights

• Placement to sophisticated and professional investors raised $3.1 million

• Proceeds to be used to support exploration primarily at the 100% owned Telfer South Gold-Copper Project

• Hasties Prospect MRE to be expanded in 2026

• Yelverton Capital acted as lead manager of the Placement

Rincon Technical Director, Michael Griffiths commented:

"This capital raise will allow us to expand our drilling efforts at our 100% owned Telfer South Gold-Copper Project, where we recently announced a significantly larger prospect than originally thought. On 26th February[1] , we announced the discovery of an extensive 1991 historic Newcrest data-set showing the surface exposure of our Hasties Prospect now stretches a distance of over 1km with chip samples having been report as high as 37 g/t Au and 21% Cu with chip samples showing elevated grades at surface over 100m in width in some places. We already have a number of POW's approved for drilling and are planning to mobilise a rig to site as soon as weather conditions allow in the coming weeks."

Rincon Resources Limited (ASX: RCR) ( “Rincon” or “Company” ) is pleased to announce that it has received firm commitments from professional and sophisticated investors to raise a total of $3.1m (before costs) through a two-tranche placement of 206,666,667 fully paid ordinary shares (“ Placement Shares ”) at an issue price of $0.015 per Placement Share (the “ Placement ”).

Included in the firm commitments are $600,000 of subscriptions from Directors and Officers (or nominees) of the Company that are subject to shareholder approval at an Extraordinary General Meeting (“ EGM ”) to be held in April 2026.

Funds raised from this Placement will primarily be applied to exploration at its 100% owned Telfer South Gold-Copper Project, the Crackerbox Gold Project (Murchison Gold Field) and general working capital.

The issue price of $0.015 per share represents a 6.3% discount to last close price of $0.016 of and an 8.3% discount to the fifteen-trading day VWAP of $0.0163.

1 Rincon Resources Limited ASX announcement dated 26 February 2026 - "Telfer South Data Reveals Significantly Larger Gold-Copper Prospect"

ASX Announcement 2[nd] March 2026

Of the total 206,666,667 Placement Shares to be issued, 75,000,000 will be issued under the Company’s existing ASX Listing Rule 7.1 and 7.1A capacity (“ Tranche 1 ”). The Company plans to finalise settlement and allot the Tranche 1 Placement Shares on or around Monday, 9 March 2026.

The remaining 131,666,667 Placement Shares, including the participation by Directors and Officers (or nominees), will be issued subject to obtaining shareholder approval at the EGM (“ Tranche 2 ”).

Lead Manager

Yelverton Capital Pty Ltd acted as lead manager (“ Lead Manager ”) to the Placement.

The Lead Manager will be paid a fee being a 2% management fee and a 4% selling fee. The Lead Manager (or its nominee/s) will also be issued 30 million options exercisable at $0.025 per share expiring three (3) years from the date of issue, subject to shareholder approval at the EGM.

The Company would like to thank the Lead Manager for its professionalism and assistance in completing the Placement.

Director and Officer Options

The Company also intends to issue to Directors and Officers 70 million options exercisable at $0.025 per option expiring three (3) years from the date of issue, subject to shareholder approval at the EGM.

Authorised by the Board of Rincon Resources Limited.

For more information visit www.rinconresources.com.au or contact:

Company:

Office: Tel: +61 (8) 6555 2950

Michael Griffiths - Director

Email: mike.griffiths@rinconresources.com.au

David Lenigas - Chairman

Email: davidlenigas@gmail.com

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ASX Announcement 2[nd] March 2026

About Rincon:

Rincon has 100% interest in four exploration assets in Western Australia that are highly prospective for copper and gold. These are the Telfer South GoldCopper Project, Crackerbox Gold Project (Murchison Gold Field), West Arunta Project and the Laverton Project.

Following the recent farm-in and joint-venture[2] with Greatland Resources (ASX:GGP), Rincon’s Telfer South Gold-Copper – Hasties Prospect now consists of two exploration licences and two prospecting licences. Together they cover roughly 15 km² with several parallel structures across geology known to host significant gold and copper mineralisation.

Each asset has previously been subject to historical exploration which has identified prospective mineral systems that warrant further exploration. The Company’s aim is to create value for its shareholders by advancing its assets through the application of technically sound, methodical, and systematic exploration programs to test, discover, and delineate economic resources for mining.

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Competent Person Statements

Mr Michael Griffiths

The information in this report that relates to Exploration Results is based on information compiled by Mr Michael Griffiths a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Griffiths is a Director of the Company. Mr. Griffiths has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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”. Mr. Griffiths consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements in relation to the Exploration Results. The Company confirms that the form and context in which the competent persons findings are presented have not been materially modified from the original announcements.

2 Refer to Rincon Resources Limited’s - Farm-In & Joint Venture with Greatland Resources on Telfer South Tenements dated 18th December 2025

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