ROX RESOURCES LIMITED — M&A Activity 2025

May 29, 2025

30 May 2025

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ACQUISITION OF MT FISHER AND MT EUREKA GOLD PROJECTS COMPLETED

HIGHLIGHTS

• High-Tech has completed the acquisition of the Mt Fisher Gold Project and the Mt Eureka Gold Project from Rox Resources Limited.

• The former gold producing Projects host a combined existing JORC Mineral Resource Estimate of 3.52 Mt @ 1.65 g/t Au for 187,000oz gold, with 88,000oz in the Measured & Indicated classification (refer ASX Announcement; 26/02/2025).

• The acquisition delivers HTM a significant landholding of 1,150km[2] in a premier Western Australian gold province, covering much of the underexplored Mt Fisher greenstone belt and contains current granted Mining Leases.

• Imminent RC drill testing of several walk-up historic intercepts including: o 9m @ 34.34 g/t Au from 67m, including 4m @ 74.25 g/t Au (Mt Fisher) o 13m @ 4.41 g/t Au from 80m, including 3m @ 11.13 g/t Au (Mt Fisher) o 5m @ 41.13 g/t Au from 45m, including 3m @ 67.94 g/t Au (Wagtail) o 3m @ 55.14 g/t Au from 47m, including 2m @ 81.6 g/t Au (Wagtail) o 11m @ 2.70 g/t Au from 40m, including 4m @ 6.0 g/t Au (Damsel) o 18m @ 6.99 g/t Au from 69m, including 10m @ 10.27 g/t Au (Damsel) o 13m @ 6.81 g/t Au from 45m, including 9m @ 8.89 g/t Au (Southern) o 20m @ 2.28 g/t Au from 100m, including 2m @ 9.85 g/t Au (Taipan)

• The Company plans to commence 15,000 metres of Aircore, Reverse Circulation and Diamond Core exploration and resource extension drilling campaigns immediately after completion of the acquisition.

• HTM has executed a Mining profit share joint venture agreement signed with SSH Mining to drill, evaluate, process, and sell historic stockpiled gold mineralisation at the Mt Fisher Gold Project (ML53/127).

High-Tech Metals Limited (ASX: HTM ) (“ High-Tech ”, “ HTM ” or the “Company ”) is pleased to advise that it has completed the acquisition of 100% of the Mt Fisher Gold Project and 51% of the Mt Eureka Gold Project (together, the “ Projects ”) from Rox Resources Limited (ASX: RXL) (“ Rox ”), in the highly prospective Northern Goldfields region, Western Australia (Figure 2).

As announced on 26 February 2025, the Projects represent a transformational acquisition for High-Tech, comprising a combined JORC (2012) Mineral Resource Estimate of 3.52Mt @ 1.65g/t Au for 187,000 ounces of gold across granted mining leases and an extensive 1,150km² tenement package in Western Australia’s highly prospective Northern Goldfields. The Company confirms that it is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource Estimate included in this announcement continue to apply and have not materially changed.

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High-Tech’s Non-Executive Chairman, Charles Thomas, commented:

“Completion of the Mt Fisher and Mt Eureka acquisition marks a transformational milestone for HighTech Metals. The Company now controls a significant 1,150km² landholding in Western Australia’s prolific Northern Goldfields, including five gold deposits with a current Mineral Resource Estimate of 3.52Mt @ 1.65g/t Au for 187,000oz. With granted mining leases, shallow oxide potential and historical production of 30,000oz @ 4.43g/t Au, we are strategically positioned to transition from explorer to developer in the near term.

“Importantly, High-Tech has engaged SSH Mining as the mining contractor for the processing of surface stockpiles at Mt Fisher, which represent an Exploration Target of 144,000 to 195,000 tonnes at 0.80 to 1.20 g/t Au. Combined with walk-up drill targets and immediate plans to commence a 15,000m drill campaign, HTM is poised for a period of strong news flow and value creation. We’re excited to deliver on the untapped potential of these gold assets.”

Mt Fisher and Mt Eureka Gold Project

The Project is in the Northern Goldfields, approximately 500km northeast of Kalgoorlie and 120km east of Wiluna within the Mt Fisher greenstone belt which is located 40km east of the prolific Yandal greenstone belt, host of significant gold deposits including Jundee, Bronzewing and Milrose (Figure 2). The total consolidated land package is 1,150 km[2] . The Project is held by RXL 100% for certain tenure (which includes the gold rights on tenure held by Cannon Resources Pty Ltd) with the remaining tenure held by Rox and Cullen Resources Limited (“ Cullen ”) (ASX: CUL) in a joint venture, with RXL earning up to 75% (currently 51%; Figure 2).

The Project offers significant exploration upside, with multiple highly prospective targets at depth and along strike from existing resources, which support the plan to grow the mineral resource further and will be a focus of exploration drilling by the Company. All information provided has been taken from historic reports written by independent consultants for the previous owners of the Project.

The Company is well-positioned to begin exploration across its tenement holdings on the completion of the acquisition. HTM will conduct a multi-faceted exploration project aimed at delivering new greenfield targets, testing existing exploration targets, resource development drilling, and diamond drill to determine metallurgical and geotechnical parameters for mining studies. On the completion of environmental and heritage surveys, the initial phase of exploration aims to:

• Complete Gradient Array Induced Polarisation (“ GAIP ”) survey at the Southern and Galway prospects

• Complete RC and Diamond drilling at the Damsel, Wagtail and Mt Fisher deposits to increase resource confidence and orebody knowledge

• Compete drilling at the Dam North, Shiva and Dam exploration targets

• Complete initial assessment of the understanding of the hydrogeology of the project area

While the Company's short-term exploration and growth strategy will continue to centre around progressing several of its more advanced resource related targets, including at Damsel and Wagtail, it is committed to promoting and advancing a pipeline of early-stage exploration opportunities. The Company is fortunate to hold several early-stage targeting frontiers, considered prospective for identifying the next generation of gold discoveries for HTM. Apart from the ongoing regional targeting work (previously outlined) centred on the Dam and Damsel mineralised trends, the entire 1,150km[2] of HTM-held tenure covering the Mt Fisher and Mt Eureka Projects remains highly prospective

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Figure 1- Image looking north-west showing historical pit, waste dumps and tailings storage facility.

Stockpiles

As a by-product of the historical mining of the Mt-Fisher Gold Mine, ore that was deemed to be “low grade” at the time was stored in a series of stockpiles that surround the historic open pits (Figure 1).

An Exploration Target for the stockpiles is approximately 144,000 to 195,000 tonnes at 0.80% to 1.20 g/t Au, exclusive of the existing Indicated and Inferred Mineral resource of 3.52 Mt @ 1.65 g/t Au for 187,000oz gold (refer ASX Announcement: 27/03/2025). The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient work to estimate a Mineral Resource, and it is uncertain if further work will result in the estimation of a Mineral Resource.

HTM recently announced that it had executed a Stockpiled Ore Joint Venture Agreement (“ JVA ”) with SSH Mining Australia Pty Ltd (“ SSH Mining ”), a division of SSH Group Ltd (ASX: SSH), to evaluate and commercialise low-grade gold stockpiles at the Mt Fisher Gold Project in Western Australia

Mineral Resources

The Project’s gold resource comprises five separate gold deposits: Damsel, Mt Fisher Mine and Wagtail for 124koz on Rox 100% tenements, and Taipan and Southern for 63koz on Mt Eureka joint venture tenements (Figure 2). The total Indicated and Inferred Mineral Resource for the Mt Fisher – Mt Eureka Gold Project now stands at 3.5Mt @ 1.65g/t Au for 187koz of contained gold (Table 1 and refer RXL ASX Announcement; 26/02/2025). The Company confirms that it is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource Estimate included in this announcement continue to apply and have not materially changed.

Previous mining at the Mount Fisher by Sundowner Minerals produced 30,000ozs of gold 218,000t @ 4.43g/t Au between 1987 and 1989 (refer ASX Announcement; 26/02/2025).

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Table 1 - Mt Fisher and Mt Eureka Mineral Resource Estimate.

		Au
		Cutoff	Volume	Tonnes	Density	Au	Au
	Classification	**g/t **	m3	(t)	(t/m3)	(g/t)	koz
**Mt Fischer **
	Measured	0.5	15,900	41,300	2.60	1.94	26
Mt Fisher	Indicated Inferred	0.5 0.5	50,600 108,900	129,100 294,100	2.55 2.70	1.97 2.53	8 24
	Total	0.5	175,400	464,400	2.65	2.32	35
	Indicated	0.5	354,300	726,200	2.05	1.87	44
Damsel	Inferred	0.5	284,500	678,000	2.38	1.43	31
	Total	0.5	638,900	1,404,200	2.20	1.66	75
	Measured	0.5	5,000	11,300	2.28	10.53	4
Wagtail	Indicated Inferred	0.5 0.5	14,200 6,200	36,200 16,200	2.54 2.62	7.75 3.31	9 2
	Total	0.5	25,400	63,700	2.51	7.11	15
Total		0.5	839,700	1,932,300	2.30	2.00	124
Mt Eureka
Taipan	Inferred Total	0.5 0.5	324,800 324,800	640,800 640,800	1.97 1.97	1.21 1.21	25 25
	Indicated	0.5	211,200	488,400	2.31	1.32	21
Southern	Inferred	0.5	172,400	457,600	2.66	1.18	17
	Total	0.5	383,500	946,100	2.47	1.25	38
Total		0.5	708,300	1,586,900	2.30	1.23	63
Total
Resource		0.5	1,548,000	3,519,200	2.27	1.65	187

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Figure 2 - Mt Fisher and Mt Eureka Gold Project Location Plan.

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Consideration for Completion of Acquisition

In accordance with the binding agreement, the Company has now:

• Paid $1,450,000 in cash to Rox;

• Issued 1,000,000 fully paid ordinary shares to Rox (subject to 12-month voluntary escrow); and

• • Will grant 1% Net Smelter Return (“ NSR ”) royalty payable to RXL on production from the certain tenements which are not subject to existing third-party royalties.

The Company received shareholder approval to issue the above securities at the General Meeting held on Monday, 28 April 2025.

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AUTHORISED FOR RELEASE ON THE ASX BY THE COMPANY'S BOARD OF DIRECTORS

For further information: For further information: Charles Thomas Quinton Meyers Non-executive Chairman Non-executive Director info@hightechmetals.com.au info@hightechmetals.com.au +61 08 9388 0051 +61 08 9388 0051

About High-Tech Metals Limited

High-Tech Metals Limited (ASX:HTM) is an ASX-listed company focused on the exploration and development of its flagship, 100 per cent owned Werner Lake Cobalt Project (the Project) located in north-western Ontario, within the Kenora Mining District, approximately 85 km north-northwest of Kenora, Ontario and approximately 170 km east-northeast of Winnipeg, Manitoba. The Project was acquired from Global Energy Metals Corporation (70%) and Marquee Resources Limited (30%).

Competent Person’s Statement

Exploration Target and Exploration Results

The information in this release that relates to Exploration Targets and/or Exploration Results is based on information compiled and reviewed by Dr Warren Thorne a Competent Person who is a member of Australasian Institute of Mining and Metallurgy Geoscientists (AUSIMM) and CEO at High-Tech Metals. Dr Thorne has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Targets, Exploration Results, Mineral Resources and Ore Reserves’. Dr Thorne consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

Where reference is made to previous releases of exploration targets and/or 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 targets and/or exploration results were 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.

Resource Statement

The information in this release that relates to the Mt Fisher – Mt Eureka Gold Resource is based on information compiled by Mr Lynn Widenbar, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Widenbar is a full-time employee of Widenbar and Associates Pty Ltd. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr Widenbar consents to the inclusion in the release of the matters based on his information in the form and context that the information appears.

Forward ‐ Looking Statements

‐ ‐ This document may include forward looking statements. Forward looking statements include, but are not limited to, statements concerning High-Tech Metals 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.