ROX RESOURCES LIMITED — Capital/Financing Update 2025

Sep 9, 2025

ASX: RXL ASX Announcement 10 September 2025

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Mining contractor appointed for Youanmi

Two-part contract entered with Byrnecut to commence underground mining works

WA gold exploration and development company Rox Resources Limited ( “Rox” or “the Company” ) ( ASX: RXL ) is pleased to announce Byrnecut Australia ( Byrnecut ) has been appointed the underground mining contractor for the development of its 100%-owned Youanmi Gold Project in Western Australia.

Highlights:

• Two-part contract for underground mining at Youanmi awarded to Byrnecut

• Part A will focus on developing the United North exploration decline to allow in-fill drilling and extend mineralisation

• Part B will focus on the Pollard and Youanmi declines and future mine production activities, following a

positive Final Investment Decision (FID)

The two-part underground mining contract was awarded to Byrnecut following an extensive and competitive tender process.

Part A will focus on the development of the planned exploration decline and drill platform for United North, with the first drill platform to be completed by July 2026.

This initial phase of work includes mobilisation, site set up, and an initial 820m exploration decline development over a five-month period. Valued at ~$10.8 million, Part A is fully funded from the Company’s existing cash reserves.

Part B will commence upon a positive FID, which is expected in the first quarter of 2026, and will enable development of the Pollard Decline and refurbishment of the Youanmi Decline, along with continual development and production activities, for a combined term of four years.

Managing Director & CEO Mr Phill Wilding commented:

“The appointment of Byrnecut as our underground mining contractor is another major milestone for Rox as we steadily advance our pathway to production for the Youanmi Gold Project.

“Byrnecut is a globally renowned tier one mining contractor, and having this team join us to start development of our project is a testament to the quality and potential of Youanmi.

“The development of the initial exploration decline at United North is a key component to de-risking the startup of Youanmi and establishing ourselves underground to commence drilling post-FID as we aim to further define and grow our mine plan.

“With initial approvals for clearing completed and approval of our mining proposal due in coming weeks, it is an exciting time for the team as we prepare to develop this high-grade underground asset.

“With delivery of the Definitive Feasibility Study due in November this year, we are on track to realising our potential as Western Australia’s next gold producer of scale and grade.”

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United North Exploration Decline

Developing the exploration decline at United North is strategically focused on de-risking the initial stages of the Youanmi Gold Project. The United North exploration decline will also become the main production decline post-FID.

Dewatering at United North and initial meshing of the pit wall have been completed, along with clearing the pit ramp to gain access to the planned portal (see Figure 1).

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Figure 1 – United North pit showing planned decline location and completed meshing

The planned access portal will enable drilling to commence underground (Figure 2), allowing tighter spaced drilling for grade control and further resource development and exploration drilling to expand the current resource base.

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Figure 2 – Exploration Decline (Part A) and Indicative Mine Plan

Pathway to production:

The Company’s indicative pathway to production (Figure 3) remains on track:

• Dewatering advancing, with United North pumped to target level for development to commence

• Mineral Resource Estimate released in July, significant increase to underground resource

• Major clearing permit obtained

• Works for major DFS work streams underway by the following consultants:

• Processing plant design – Maca Interquip Mintrex

• Metallurgical consulting – MineScope Services

• Metallurgical test work (Albion Process[TM] ) – Glencore Technology & Core Resources

• Geotechnical – MineGeoTech

• Hydrology and hydrogeology – AQ2 – draft water balance complete, initial fresh water targets received

• Tailings dam design – TailCon Projects – draft designs received

• Early works streams underway, including:

• Key management positions continue to be filled

• Contract awarded for Phase 1 camp expansion

• Preferred Owners Team appointed – Increva

• Notice of Intent issued to Underground Mining Contractor - Byrnecut

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Next steps:

• Review of updated mine design and planning inputs to the DFS anticipated this month from recently updated MRE, to be released with the DFS

• Continue testing near-mine and regional targets

• Continue refining metallurgical test work for Albion Process[TM]

• Continue dewatering Main Pit

• Preparations to United North Pit for commencement of decline, including setting up temporary power station

• Continue permitting process including Mining Proposals and Mine Closure Plans

• Continue working with debt advisors to progress project financing

• Environmental approvals and design work for various activities to continue

• Finalise mining contract

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CY24 CY25 CY26 CY27
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Key Project
Deliverables Definitive Feasibility Study FID Mill construction and commissioning First gold
Milestones
Resource extensional drilling Extensional drilling
Growth
Exploration drilling Exploration drilling
Mine plan Reserve
Geology and mine planning Resource definition drilling MRE update update in DFS
Phase 2
Comminution and
Metallurgy flotation test work Phase 1 Albion test work final test
work
Tailings Storage Facility design, Process Process Plant
Design Plant design, Geotechnical and Hydrology Construction
studies Drawings
Development
Environmental Processing Plant and Tailings Storage Facility
Approvals review Mining Approvals Approvals
Evap pond refurb, United North Dewatering
Mine dewatering works
pipeline installation Main pit to Main Decline and Pollard Portal Remaining Main pit and start of Youanmi UG
Initial site works, Early access mining United North &
Potential early works/underground access Pollard declines, rehabilitate existing portal and main UG mining & ramp-up to steady state
decline
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Figure 3 – Pathway to Production Timeline

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Authorisation:

This announcement is authorised for release by the Board of Rox Resources Limited.

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For further information, please contact:

Investor Inquiries

Phillip Wilding Managing Director & CEO Rox Resources Limited admin@roxresources.com.au +61 8 9226 0044

Media Inquiries

Emily Evans Media and Content Manager SPOKE emily@hellospoke.com.au +61 401 337 959

Rox Resources Limited

ABN 53 107 202 602 Level 2, 87 Colin Street, West Perth WA 6005 www.roxresources.com.au

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About Rox Resources

Rox Resources (ASX: RXL) is a West Australian focused gold exploration and development company. It is the 100 per cent owner of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth.

The Company’s focus is on the development of the high-grade, high-margin Youanmi Gold Project that hosts a global mineral resource of 12.1Mt at 5.6g/t for 2.2Moz of gold. With a clear strategic and execution plan to production, Rox Resources offers significant value to its investors.

Competent Persons Statement

Exploration Results

The information in this release that relates to Data and Exploration Results is based on information compiled and reviewed by Andrew Shaw-Stuart a Competent Person who is a Fellow Member of the Australian Institute of Geoscientists (AIG). Mr Shaw-Stuart is the Exploration Manager for Rox Resources and holds securities and performance rights in the Company. The aforementioned has sufficient experience that is relevant to the style of mineralisation and type of target/deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Shaw-Stuart consents to the inclusion in the release of the matters based on the information in the form and context in which it appears.

Where reference is made to previous releases of exploration results in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.

The information in this report that relates to previous Exploration Results was prepared and first disclosed under the JORC Code 2012 and has been properly and extensively cross-referenced in the text to the date of the original announcement to the ASX.

Metallurgical Results

The information in this report that relates to metallurgical results is based on information compiled and reviewed by Mr Michael Davis a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy (“AusIMM”) and a Metallurgist and Director of MineScope Services Pty Ltd. Mr Davis has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Davis consents to the inclusion in the 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 those announcements and all material assumptions and technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.

Resource Statements

The information in this report that relates to Mineral Resources at the Youanmi Gold Project is based on information compiled by Steve Le Brun, a Competent Person who is a Fellow of the Australian Institute of Geoscientists. Mr Le Brun is the Principal Resource Geologist for Rox Resources and holds shares and performance rights in the Company. Mr Le Brun 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 Le Brun consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Production Target

The Production Target and forecast financial information derived from the Production Target referred to in this release are underpinned by Indicated Mineral Resources (approximately 71%) and Inferred Mineral Resources (approximately 29%). The total Life of Mine Production Target includes 29% Inferred Resources ounces, 7% Indicated Resource ounces outside of Reserve and the remaining 64% is underpinned by Probable Ore Reserves. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the Production Target or forecast financial information reported will be realised. Accordingly, the Company has scheduled the Production Target such that Inferred Mineral Resources do not feature as a significant proportion of the first 4 years of the 9-year mine plan. Approximately 19% of the Production Target material mined over the first 4 years is underpinned by Inferred Mineral Resources. The Company is satisfied that the Inferred Mineral Resources partially underpinning the Production Target is not the determining factor of the viability of the Youanmi Gold Project.

Pre-Feasibility Study

The information in this announcement that relates to the production target for the Youanmi Gold Project was reported by Rox in accordance with ASX Listing Rules and the JORC Code (2012 edition) in the announcement “Youanmi Gold Project - Positive Pre-Feasibility Study” released to the

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ASX on 24 July 2024, and for which the consent of the Competent Person Mr Daniel Marchesi was obtained. A copy of that announcement is available at www.asx.com.au. Rox confirms it is not aware of any new information or data that materially affects the information included in that market announcement and that all material assumptions and technical parameters underpinning the production target, and the related forecast financial information derived from the production target in that market announcement continue to apply and have not materially changed. Rox confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.

Forward ‐ Looking Statements

Certain statements in this announcement relate to the future, including forward-looking statements relating to the Company and its business (including its projects). Forward‐looking statements include, but are not limited to, statements concerning Rox Resources Limited planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements.

These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Neither the Company, its officers nor any other person gives any representation, assurance or guarantee that the events or other matters expressed or implied in any forward-looking statements will actually occur. You are cautioned not to place undue reliance on those statements.

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