ROX RESOURCES LIMITED — Capital/Financing Update 2026

Mar 16, 2026

ASX: RXL ASX Announcement 17 March 2026

==> picture [136 x 58] intentionally omitted <==

Final Investment Decision approved for Youanmi

Positive FID follows approval of Mine Development and Closure Proposal

WA gold exploration and development company Rox Resources Limited ( “Rox” or “the Company” ) ( ASX: RXL ) advises the Board has approved the Final Investment Decision (FID) for its 100%-owned Youanmi Gold Project in Western Australia.

Highlights:

• Board approved Final Investment Decision for Youanmi Gold Project

• Construction approval for the processing plant and associated infrastructure received

• Project fully funded following secured commitments from lending banks and completion of a A$200 million capital placement

• Construction phase to commence immediately, with the development team now embedded on site

The FID approval for the Youanmi Gold Project follows receipt of the Mining Development and Closure Proposal ( MDCP ) amendment approval from the Department of Mines, Petroleum and Exploration.

This key approval allows construction to commence for the new Processing Plant, Tailings Storage Facility ( TSF3 ), and Power Station/Solar Array, as well as the redesign of the existing West Main Waste Rock Dump (to become the new Run-of-Mine ( ROM )).

The MDCP approval, supported by A$350 million credit commitments from the previously announced syndicate of banks[1] and the A$200 million placement plus A$18 million share purchase plan, allowed the Board to approve the FID for Youanmi. Rox and the Syndicate Banks are now working towards execution of finance documents and satisfaction of typical conditions precedent. Financial close and first debt draw down is expected in the September 2026 quarter.

The Company will now commence bulk earthworks and issue contracts for the power station and oxygen plant on a build-own-operate (BOO) basis. Most early works streams have already commenced, with the majority of long lead items ordered, and construction of the accommodation facilities ongoing.

Following the MDCP approval, a subsequent Works Approval lodged in January 2026 is on track for approval during Q2 CY2026, in keeping with the Company’s pathway towards production.

Managing Director & CEO Mr Phill Wilding commented:

“Following the commitment of debt funding and receipt of the MDCP, the Board of Rox has now made its Final Investment Decision, paving the way for construction of the Youanmi Gold Project to begin.

1 Refer to ASX announcement released on 9 March 2026 titled “Youanmi Fully Funded to Production”

==> picture [136 x 58] intentionally omitted <==

“Bulk earthworks will commence shortly in preparation for these construction works, whilst the Company finalises the remaining key contracts.

“The project is now fully funded through to production, and over coming months we will work towards financial close while ramping up on-site construction activity.

“This is a pivotal milestone for Rox Resources, allowing us to remain on schedule with our pathway towards production as we prepare for our first gold pour by mid-2027.”

Authorisation:

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

--- Ends ---

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 1, 87 Colin Street, West Perth WA 6005 www.roxresources.com.au

Page 2

==> picture [136 x 58] intentionally omitted <==

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

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.

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.

Page 3