Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

RTG Mining Inc. Capital/Financing Update 2025

Sep 29, 2025

47130_rns_2025-09-29_70e27647-e023-4eba-94dd-c0cb415ec00a.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [521 x 80] intentionally omitted <==

Not for release to US wire services or distribution in the United States

DRILLING HIGHLIGHTS CHANACH COPPER-GOLD EXPLORATION AND RESOURCE POTENTIAL

ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE

30 September 2025

Highlights:

  • Final assays from 4,300m of diamond drilling further demonstrate the scale and high-grade nature of key targets within the Chanach Copper-Gold Project area

  • Previous highlights of this year’s drilling include:

  • 59.9m @ 0.67% Cu from 9.6m

  • 3.4m @ 15.3g/t Au from 754.4m

  • 1.8m @ 7.51g/t Au from 773.2m

  • 3.1m @ 6.54g/t Au from 791.7m

  • 3.7m @ 12.47g/t Au from 174m

  • 4.5m @ 1.76g/t Au and 1.06% Cu from 32.8m

  • 7.8m @ 11.65g/t Au from 41m

  • Chanach hosts existing high-grade JORC compliant Inferred Mineral Resource of 2.95 Mt @ 5.11 g/t Au for 484,000 ounces of Au and 17.23 Mt @ 0.37% Cu for 64,000t of Cu1 (141.1 Mlbs Cu) from only limited drilling to date

  • Significant intercepts from new drilling are highlighted below with details in Appendix 3

  • Broad Oxide Copper intercept on southern edge of northern chargeable geophysical anomaly:

Hole DD25-12

  • 21.9m @ 0.39% Cu from 52.2m including: o 2.9m @ 0.62% Cu from 66m

  • 3.5m @ 0.35% Cu from 229.5m

  • 1.7m @ 0.63% Cu from 242.9m

  • Hole DD25-13

  • 2.10m @ 0.41%Cu from 30.6m

  • 25.9m @ 0.49% Cu from 62.1m including

    • 1.0m @ 1.10% Cu from 62.1m

    • 1.2m @ 1.06% Cu from 86.8m

  • 16.8m @ 0.44% Cu from 241.5m

  • 5.4m @ 0.57% Cu from 263.4m

High-grade Gold intercepted in gold veining outside of gold resource area – several other mapped veins remain untested:

Hole DD25-11

  • 0.50m @ 10.2g/t Au from 6.55m

  • 6.05m @ 9.23g/t Au from 31.4m including:

o 2.65m @ 17.85g/t Au from 32.6m

  • 1.00m @ 6.43g/t Au from 51.3m

The Board of RTG Mining Inc. (“ RTG ”, or the “ Company ”) ( TSX Code: RTG, ASX Code: RTG ) is pleased to provide the following update on the final assays received from the 2025 diamond drilling campaign at its 90% owned Chanach Gold & Copper Project (“ Chanach” ) in the Kyrgyz Republic.

The 2025 field season incorporated 4,300m of diamond drilling. Drilling was completed outside of the existing gold resource base, mainly targeting the strong 1.8km diameter IP anomaly identified last year along with a series of magnetic and skarn targets.

Drilling commenced on 6 May with two diamond drill rigs and at the time of this release all 13 planned holes had been completed. Logging and assaying has also been completed for this year’s program.

Commenting on the final assays from the 2025 campaign and on Chanach’s growing exploration upside, RTG’s CEO Justine Magee said : “We are very pleased to report these final assays from our 2025 field season at Chanach. Diamond drilling continues to deliver high-grade intercepts from key copper and gold prospects, demonstrating the scale and quality of this mineral field and providing valuable information that will refine our target generation for the next drilling campaign.

This program was designed to target high-grade zones and provide a better understanding of the significant opportunities of the mineral field which drilling has demonstrated hosts various styles of mineralization, including high-grade gold from our epithermal gold area (See Diagram 3), high-grade copper and gold from our 6.5km of mineralised skarns (See Diagram 3) and the broad oxide copper zone associated with the large geophysics anomaly (See Diagrams 2 and 3).

Along with the growing copper oxide footprint, our technical team remains very encouraged by the potential to grow our existing gold resource base, with drilling of a quartz vein, which sits ~170m outside of the resource, returning exceptional results up to 10g/t Au (See Diagrams 4 and 5). Several other mapped veins will be tested during our next field campaign.”

==> picture [595 x 39] intentionally omitted <==

==> picture [466 x 292] intentionally omitted <==

Diagram 1 – License Area Showing New Drill Holes Associated with this Announcement.

- Geophysical Target: Growing Copper Potential Warrants Follow up Campaign

Holes DD25-12 and DD25-13 were drilled as a follow up to DD25-01 which intercepted a large oxide copper zone on the southern edge of the northern chargeable anomaly. Both holes intercepted broad anomalous copper zones which further show the size and prospectivity of this area.

The three holes that have been drilled into this area, show the potential extent of the area, which can be seen from previous channel sampling and soil sampling with dimensions up to 600m long and 40m wide. This is an exciting area for copper mineralisation and requires further targeted drilling.

Diagram 2 shows the position and possible extent of the copper zone, along with the intercepts so far. Best intercepts from the two holes include:

Hole DD25-12

  • 21.9m @ 0.39% Cu from 9.6m including: o 2.9m @ 0.62% Cu from 66m

  • 3.5m @ 0.35% Cu from 229.5m

  • 1.7m @ 0.63% Cu from 242.9m

Hole DD25-13

  • 2.10m @ 0.41%Cu from 30.6m

  • 25.9m @ 0.49% Cu from 62.1m including

  • 1.0m @ 1.10% Cu from 62.1m

  • 1.2m @ 1.06% Cu from 86.8m

  • 16.8m @ 0.44% Cu from 241.5m

  • 5.4m @ 0.57% Cu from 263.4m

==> picture [595 x 39] intentionally omitted <==

==> picture [447 x 360] intentionally omitted <==

Diagram 2 – Showing Potential Oxide Copper Zone Intercepted by DD25-01, DD25-12 and DD25-13

==> picture [448 x 281] intentionally omitted <==

Diagram 3 – Tenement Map Showing Key Mineralised Areas and Key Results from 2025 Drilling Campaign

==> picture [595 x 39] intentionally omitted <==

High Grade Gold Vein: Exciting Potential to Grow Existing Gold Resource

The western side of the tenement hosts a series of epithermal gold veins. There is currently a JORC compliant Inferred Mineral Resource of 2.95 Mt @ 5.11 g/t Au for 484,000 ounces of Au . The resource is associated with a series of quartz veins and is open along strike and down dip.

Further highlighting the exciting potential of this region, there remains several untested veins that have been mapped. Diagram 4 shows some of these veins both tested and untested.

DD25-11 was drilled on an untested vein approximately 170m away from the main resource area and intercepted three veins of high-grade gold as outlined below:

Hole DD25-11

  • 0.50m @ 10.2g/t Au from 6.55m

  • 6.05m @ 9.23g/t Au from 31.4m including:

  • 2.65m @ 17.85g/t Au from 32.6m

  • 1.00m @ 6.43g/t Au from 51m.

Diagram 5 shows a cross-section of the intercepted veins and distance from main resource veins.

==> picture [425 x 313] intentionally omitted <==

Diagram 4 – Gold Resource Area Showing Tested and Untested Quartz Veining and DD25-11

==> picture [595 x 39] intentionally omitted <==

==> picture [413 x 362] intentionally omitted <==

Diagram 5 – Cross Section of DD25-11 showing distance from main Resource Area

Future Work: Sights Set on Several Exciting Copper and Gold Targets

All areas drilled have shown the potential to host high-grade copper and gold mineralisation. The blind magnetic target and skarn areas all require further step-out drilling and the geophysical target needs more follow up in the copper oxide area and deep gold intercepts.

Further work is also planned on several untested areas of the 1.8km diameter IP anomaly where chargeable signatures sit on the contact of the resistive areas. These target areas are up to 700m in length and sit further to the east of this year’s drilling (see last announcement for diagram).

Given the number of untested quartz veins and the fact that the currently tested veins are open along strike and down dip, the gold area will also be the focus of future work.

==> picture [595 x 39] intentionally omitted <==

ABOUT RTG MINING INC

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently focused primarily on progressing the Mabilo Project to start-up having now received a mining permit for the Project, with a view to moving quickly and safely to a producing gold and copper company.

RTG also has a number of exciting new opportunities including the Panguna Project in Bougainville, which it remains committed to while also considering further new business development opportunities.

RTG has an experienced management team which has to date developed seven mines in five different countries, including being responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited. RTG has some of the most respected international institutional investors as shareholders including Equinox Partners and Franklin Templeton.

ENQUIRIES

President & CEO – Justine Magee Tel: +61 8 6489 2900 Email: [email protected]

Australian Investor and Media Contact

Sam Burns: +61 400 164 067 Email: [email protected]

COMPLIANCE STATEMENT

Date: 30 September 2025 Authorised for release by: By the Board of Directors

==> picture [595 x 39] intentionally omitted <==

QUALIFIED PERSON AND COMPETENT PERSON STATEMENT

The information in this release that relates to Exploration Results and Mineral Resource Estimates of the Chanach Project is based upon information compiled, reviewed and approved by Viktor Zabolotny who is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ who is a Member and Chartered Professional of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Viktor Zabolotny is employed by BW Three Holdings Ltd and is a consultant to RTG. Viktor Zabolotny 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 and a Qualified Person for the purposes of NI 43-101. Viktor Zabolotny consents to the inclusion in the release of the matters based on his information in the form and the context in which it appears.

The information in this release that relates to Exploration Targets of the Chanach Project is based upon information compiled, reviewed and approved by Greg Hall who is a Qualified Person under NI 43-101 and a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ who is a Member and Chartered Professional of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Greg Hall is employed by Golden Phoenix International Pty Ltd and is a consultant to RTG. Greg Hall 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 and a Qualified Person for the purposes of NI 43-101. Greg Hall consents to the inclusion in the release of the matters based on his information in the form and the context in which it appears.

The information in this release that relates to areas outside of exploration results, Mineral Resources, Mineral Reserves and Metallurgy and Processing is based on information prepared by or under the supervision of Mark Turner, who is a Qualified Person and Competent Person. Mark Turner is a Fellow of the Australasian Institute of Mining and Metallurgy and is employed by RTG Mining Inc, the Company. Mark Turner has sufficient experience that is relevant to the information under consideration and to the activity which he is undertaking 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” and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mark Turner has verified the data disclosed in this release. Mark Turner consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

For the ASX Feasibility Study announcement including JORC tables please refer to the RTG Mining website (www.rtgmining.com) and on the ASX, under announcements (www.asx.com.au).

==> picture [595 x 30] intentionally omitted <==

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the accuracy or adequacy of this press release, which has been prepared by management.

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation including, among others, statements made or implied relating to the interpretation of exploration results, accuracy of mineral resource and mineral reserve estimates, parameters and assumptions used to estimate mineral reserves and mineral resources, realization of mineral reserve and mineral resource estimates, estimated economic results of the Chanach Project, future operational and financial results, including estimated cashflow and the timing thereof, estimated expenditures, expansion, exploration and development activities and the timing thereof, including expectations regarding plans for progressing development, funding, the negotiation of contracts, offtake and the completion of documentation, RTG’s objectives, strategies to achieve those objectives, RTG’s beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward looking statements generally can be identified by words such as “objective”, “may”, “will”, “expected”, “likely”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or similar expressions suggesting future outcomes or events. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG’s expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG’s mineral projects; the need to obtain additional financing to develop RTG’s mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG’s mineral projects and other risks and uncertainties as discussed in RTG’s annual report for the year ended December 31, 2024 and detailed from time to time in our other filings with the Canadian securities regulatory authorities available at www.sedar.com. The forward ‐ looking statements made in this announcement relate only to events as of the date on which the statements are made. RTG will not release publicly any ‐ revisions or updates to these forward looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

This announcement has been prepared for publication in Canada and Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or any state securities laws, and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.

==> picture [595 x 39] intentionally omitted <==

Appendix 1 – JORC Code, 2012 Edition – Table 1: Chanach Project

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 (e.g. 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 (e.g. ‘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 (e.g. submarine
nodules) may warrant disclosure of
detailed information.






Drill core was oriented, and core recovery
was routinely measured and recorded.

Sampling intervals were geologically
controlled and based on lithological and
mineralogical boundaries, typically ranging
between 0.3m and 1.5m.

Drill core was logged in detail for lithology,
mineralogy, structure and was digitally
photographed. Logging was performed using
standardised coding systems to ensure
consistency and facilitate geostatistical
analysis.

Samples were accompanied by blank
samples and duplicates.
Drilling
Techniques
Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc.) and details
(e.g. 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.).


•All drilling was conducted with 2 diamond core rigs
using HQ Diameter holes.
Drill
sample
recovery

Method of recording and assessing
core and chip 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.

•Entire core was measured to determine core recovery
•Core recovery in excess of 95%
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
•All core has been geologically logged by in-house
field geologists to a level of detail to support
mineral resource estimates and mining studies.
•Logging is considered qualitative including
photography.
•Total length of hole wasgeologicallylogged.

==> picture [595 x 39] intentionally omitted <==

Criteria JORC Code Explanation Commentary
quantitative in nature. Core (or costean,
channel, etc.) photography.
The total length and percentage of the
relevant intersections logged.
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.
•Core has been sawn and quarter core has been
used for assaying.
•Field duplicates and blanks submitted as part of
QAQC.
•Sample sizes were appropriate to the grain size
of the material being tested.
Quality of assay
data
and
laboratory tests



The nature, quality and
appropriateness of the assaying and
laboratory procedures used and
whether 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 (e.g. standards, blanks,
duplicates, external laboratory checks)
and whether acceptable levels of
accuracy (i.e. lack of bias) and
precision have been established.

•The analytical techniques Fire Assay, Atomic
Absorption Spectrophotometry and ICP-AES/ICP-
MS for multi-element analysis after multi-acid
digest. This is considered appropriate for the
elements being tested.
•Laboratory QAQC involves the use of internal lab
standards using certified reference material,
blanks, splits and replicates as part of the in-house
procedures.
•All samples from the 2025 Drill Core
Sampling program were analysed at Stewart
Assay and Environmental Laboratories LLC,
which has all international standards
certification and were subject to in-house
QAQC procedures.
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.

•An executive director of Chanach LLC has visually
verified significant intersections in drill samples
from the Chanach project.
•N/A
•Primary data was collected using a set of standard
Excel templates on paper and re-entered into
laptop computers. Assay data is received in digital
and hard copy directly from the laboratory and
imported into the database.
•No adjustments or calibrations were made to any
assay data used in this report.

==> picture [595 x 39] intentionally omitted <==

Criteria JORC Code Explanation Commentary
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.
•Drill hole locations were recorded using handheld
Garmin GPS60s. Elevation values were in AHD RL
and values recorded within the database. Expected
accuracy is + or – 3 to 7 m for easting, northing
and 10m for elevation coordinates.
•The grid system is WGS84 UTM (zone 42 north).
•Topographic surface uses handheld GPS elevation
data, which is adequate at the current stage of the
project.
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.
•Drilling was reconnaissance in nature and was broadly
spaced, targeting specific structures
•Data spacing and distribution not sufficient to establish
the degree of geological and grade continuity
appropriate for mineral resources and ore reserve
estimation
•No compositing has been applied.
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.
•Drilling is oriented to intercept known structures as
close to right angle as possible.
Sample
security
The measures taken to ensure sample
security.
•Samples transferred directly to laboratory by field
personnel in clearly marked bags.
•Sample numbers cross-checked with laboratory count.
Audits
or
reviews

The results of any audits or reviews of
sampling techniques and data.
•The Company carries out its own internal data
audits. No problems have been detected.

==> picture [595 x 39] intentionally omitted <==

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, historical 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.
•The mineralisation is located within Exploration
License AP6771 which is a Joint Venture between
RTG Mining Inc (90%) and BW Three Holdings Ltd
(10%)
•There are no other material issues.
•The tenement is in good standing and no known
impediments exist.
Exploration
done by other
parties
Acknowledgment and appraisal of
exploration by other parties.
•No other exploration has been carried out
Geology Deposit type, geological setting and
style of mineralisation.
•The geological setting is of Cambrian to Permian
aged intrusive porphyry systems, bounded by
overlying basaltic, and sedimentary rocks.
Mineralisation is mostly situated within granitic
porphyry units as broad alteration containing copper
sulphides and within narrow quartz veins and faults.
Skarn mineralisation consists of magnetite, pyrite,
chalcopyrite, malachite, azurite, limonite, haematite,
epidote and granular andradite.
Drill
Hole
Information

A summary of all information material
to the understanding of the exploration
results including a tabulation of the
following information for all Material drill
holes:
oeasting and northing of the drill hole
collar
oelevation or RL (Reduced Level –
elevation above sea level in meters)
of the drill hole collar
odip and azimuth of the hole
odown hole length and interception
depth
ohole 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.

•See Appendix 2 of this release.
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.
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

•Length weighted averaging techniques have been
used in reporting intercept widths and grades.
•No min/max grade cutting has been used for Copper
reporting. A 0.1 g/t Au was used as a lower cut for Gold
Reporting.
•Details of aggregate intercepts are shown in
Appendix 3.

==> picture [595 x 39] intentionally omitted <==

Criteria JORC Code Explanation Commentary
typical examples of such aggregations
should be shown in detail.
The assumptions used for any
reporting of metal equivalent values
should be clearly stated.
•No equivalent values used
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 drill hole 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 (e.g.
‘down hole length, true width not
known’).

•Only down-hole widths quoted, no true widths known at
this stage.
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 drill hole collar locations and
appropriate sectional views.
•Appropriate maps and sections are included in
previous announcements.
•Appropriate Plans and Maps included in the
announcement
•Not all sections have been included as
geological interpretation in the copper area
has not been finalised.
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.
•Drilling results have been comprehensively reported in
this announcement. All information considered material
to the reader’s understanding of the Exploration
Results and data has been reported.
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; metallurgical test results;
bulk density, groundwater, geotechnical
and rock characteristics; potential
deleterious or contaminating
substances.


•Exploration targeting has been enhanced by a
structural study completed by Orefind in 2017, a
ground magnetics study by Southern Geoscience in
2016 and a geophysical study completed by Baoding
Geological Engineering Institute in 2011. The
project is a target rich environment with 2019
planned exploration focussing on multiple targets.
This has been further enhanced by a structural
survey completed by Vaulin in 2022. A geophysical
survey conducted in 2024 was also instrumental in
targeting this drill program.
•No metallurgical test work has been conducted on
this drilling to date.
Further Work The nature and scale of planned further
work (e.g. 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.


•Ongoing diamond drilling will be used to further
define the nature and extent of the geochemical
anomalism, and to gain lithological information.
•Most mineralisation is open both along strike and
down/up dip.
•Further structural mapping, geophysical
interpretation, trenching and drilling will be required
to develop the resource model following the 2025
drilling.

==> picture [595 x 39] intentionally omitted <==

Appendix 2 – Drill Hole Details

Drill Hole
Number
Easting Northing RL Azimuth Dip Depth **Type **
DD25-01 697610 4625570 2765.923 20 55 729.5 Diamond
DD25-02 697875 4625690 2820.979 10 50 446.3 Diamond
DD25-03 697565 4625145 2702.429 20 55 800 Diamond
DD25-04 697675 4626090 2805.072 330 45 573 Diamond
DD25-05 699419 4625001 2929.41 35 50 202.50 Diamond
DD25-06 700740 4623684 3442 35 60 100 Diamond
DD25-07 700709.4 4625244 3197.69 215 60 201.2 Diamond
DD25-08 69587 4627380 3125 15 60 380 Diamond
DD25-09 697381.6 4627212 3086.56 70 60 100 Diamond
DD25-10 697426.5 4627068 3092.6 70 60 100 Diamond
DD25-11 696805.5 4626561 2902.42 50 60 100 Diamond
DD25-12 697725.47 4625716.6 2796 10 50 300 Diamond
DD25-13 697875 4625690 2820.98 190 45 180 Diamond

==> picture [595 x 39] intentionally omitted <==

Appendix 3 – Significant Intercept Details

DD25-11

Easting Northing RL Azimuth Dip Depth From To Downhole
Width
g/t Au
696805.5 4626561 2902.42 50 60 100 6.55 7.05 0.5 10.2
696805.5 4626561 2902.42 50 60 100 31.40 32.60 1.2 4.74
696805.5 4626561 2902.42 50 60 100 32.60 33.65 1.05 10.6
696805.5 4626561 2902.42 50 60 100 33.65 34.20 0.55 42.5
696805.5 4626561 2902.42 50 60 100 34.20 35.25 1.05 12.2
696805.5 4626561 2902.42 50 60 100 35.25 35.95 0.7 0.05
696805.5 4626561 2902.42 50 60 100 35.95 36.25 0.3 9.26
696805.5 4626561 2902.42 50 60 100 36.25 37.45 1.2 0.02
696805.5 4626561 2902.42 50 60 100 51.3 52.3 0.4 6.43

Notes: all intercepts use 0.1g/t Au lower cut and no upper cut, 2m maximum internal and edge dilution and all intercepts > 2GxM are reported.

DD25-12

Easting Northing RL Azimuth Dip Depth From To Downhole
Width
**Cuppm **
697725.47 4625716.6 2796 10 50 300 52.20 53.00 0.4 1742
697725.47 4625716.6 2796 10 50 300 53.00 53.80 0.6 2947
697725.47 4625716.6 2796 10 50 300 53.80 54.70 0.6 6632
697725.47 4625716.6 2796 10 50 300 54.70 55.60 0.8 3543
697725.47 4625716.6 2796 10 50 300 55.60 56.40 0.9 4104
697725.47 4625716.6 2796 10 50 300 56.40 57.20 0.9 4260
697725.47 4625716.6 2796 10 50 300 57.20 58.40 0.9 4638
697725.47 4625716.6 2796 10 50 300 58.40 59.35 0.9 4468
697725.47 4625716.6 2796 10 50 300 59.35 60.30 0.9 1203
697725.47 4625716.6 2796 10 50 300 60.30 61.20 1.1 1116
697725.47 4625716.6 2796 10 50 300 61.20 62.20 1.1 2163
697725.47 4625716.6 2796 10 50 300 62.20 63.20 1.00 2853
697725.47 4625716.6 2796 10 50 300 63.20 64.20 1.00 3730
697725.47 4625716.6 2796 10 50 300 64.20 65.20 1.00 4040
697725.47 4625716.6 2796 10 50 300 65.20 66.20 1.00 3371
697725.47 4625716.6 2796 10 50 300 66.20 67.20 1.00 6738
697725.47 4625716.6 2796 10 50 300 67.20 68.10 0.90 5840
697725.47 4625716.6 2796 10 50 300 68.10 69.10 1.00 6115
697725.47 4625716.6 2796 10 50 300 69.10 70.10 1.00 3889
697725.47 4625716.6 2796 10 50 300 70.10 71.10 1.00 3412
697725.47 4625716.6 2796 10 50 300 71.10 72.10 1.00 5118
697725.47 4625716.6 2796 10 50 300 72.10 73.10 1.00 3392
697725.47 4625716.6 2796 10 50 300 73.10 74.10 1.00 3214
697725.47 4625716.6 2796 10 50 300 229.50 230.50 1.00 3809
697725.47 4625716.6 2796 10 50 300 230.50 231.40 0.90 3014
697725.47 4625716.6 2796 10 50 300 231.40 232.40 1.00 3890

==> picture [595 x 39] intentionally omitted <==

697725.47 4625716.6 2796 10 50 300 232.40 233.00 0.60 3338
697725.47 4625716.6 2796 10 50 300 242.90 243.80 0.90 4287
697725.47 4625716.6 2796 10 50 300 243.80 244.60 0.80 8518

Notes: all intercepts use no lower cut or upper cut, 3m maximum internal and edge dilution and all intercepts >3000 PPMxM are reported.

DD25-13

Easting Northing RL Azimuth Dip Depth From To Downhole
Width
**Cuppm **
697875 4625690 2820.98 190 45 300 30.60 31.50 0.90 5019
697875 4625690 2820.98 190 45 300 31.50 32.70 1.20 3354
697875 4625690 2820.98 190 45 300 62.10 63.10 1.00 10920
697875 4625690 2820.98 190 45 300 63.10 64.10 1.00 7898
697875 4625690 2820.98 190 45 300 64.10 65.00 0.90 3856
697875 4625690 2820.98 190 45 300 65.00 66.00 1.00 5777
697875 4625690 2820.98 190 45 300 66.00 67.00 1.00 6934
697875 4625690 2820.98 190 45 300 67.00 68.00 1.00 4239
697875 4625690 2820.98 190 45 300 68.00 68.80 0.80 4050
697875 4625690 2820.98 190 45 300 68.80 69.50 0.70 7321
697875 4625690 2820.98 190 45 300 69.50 70.70 1.20 3562
697875 4625690 2820.98 190 45 300 70.70 71.10 0.40 6088
697875 4625690 2820.98 190 45 300 71.10 72.00 0.90 4027
697875 4625690 2820.98 190 45 300 72.00 73.00 1.00 3853
697875 4625690 2820.98 190 45 300 73.00 74.00 1.00 3696
697875 4625690 2820.98 190 45 300 74.00 75.10 1.10 4169
697875 4625690 2820.98 190 45 300 75.10 76.00 0.90 2561
697875 4625690 2820.98 190 45 300 76.00 77.20 1.20 2915
697875 4625690 2820.98 190 45 300 77.20 78.00 0.80 3501
697875 4625690 2820.98 190 45 300 78.00 78.80 0.80 6583
697875 4625690 2820.98 190 45 300 78.80 79.50 0.70 4824
697875 4625690 2820.98 190 45 300 79.50 80.70 1.20 3469
697875 4625690 2820.98 190 45 300 80.70 81.70 1.00 3187
697875 4625690 2820.98 190 45 300 81.70 82.50 0.80 4215
697875 4625690 2820.98 190 45 300 82.50 83.50 1.00 3850
697875 4625690 2820.98 190 45 300 83.50 84.50 1.00 3686
697875 4625690 2820.98 190 45 300 84.50 85.20 0.70 3256
697875 4625690 2820.98 190 45 300 85.20 86.30 1.10 2729
697875 4625690 2820.98 190 45 300 86.30 86.80 0.50 6652
697875 4625690 2820.98 190 45 300 86.80 88.00 1.20 10595
697875 4625690 2820.98 190 45 300 241.50 242.50 1.00 4412
697875 4625690 2820.98 190 45 300 242.50 243.50 1.00 3737
697875 4625690 2820.98 190 45 300 243.50 244.60 1.10 3785
697875 4625690 2820.98 190 45 300 244.60 245.50 0.90 4429
697875 4625690 2820.98 190 45 300 245.50 246.50 1.00 3744
697875 4625690 2820.98 190 45 300 246.50 247.50 1.00 5985
697875 4625690 2820.98 190 45 300 247.50 248.50 1.00 4495
697875 4625690 2820.98 190 45 300 248.50 249.50 1.00 4936
697875 4625690 2820.98 190 45 300 249.50 250.50 1.00 4759

==> picture [595 x 39] intentionally omitted <==

697875 4625690 2820.98 190 45 300 250.50 251.50 1.00 5357
697875 4625690 2820.98 190 45 300 251.50 252.40 0.90 4067
697875 4625690 2820.98 190 45 300 252.40 253.50 1.10 4040
697875 4625690 2820.98 190 45 300 253.50 254.50 1.00 4326
697875 4625690 2820.98 190 45 300 254.50 255.50 1.00 3943
697875 4625690 2820.98 190 45 300 255.50 256.50 1.00 4510
697875 4625690 2820.98 190 45 300 256.50 257.50 1.00 4657
697875 4625690 2820.98 190 45 300 257.50 258.30 0.80 4521
697875 4625690 2820.98 190 45 300 263.40 264.60 1.20 5811
697875 4625690 2820.98 190 45 300 264.60 265.60 1.00 5464
697875 4625690 2820.98 190 45 300 265.60 266.80 1.20 4389
697875 4625690 2820.98 190 45 300 266.80 267.80 1.00 5809
697875 4625690 2820.98 190 45 300 267.80 268.80 1.00 7305

Notes: all intercepts use no lower cut for Copper and no upper cut, 3m maximum internal and edge dilution and all intercepts >3000 PPPxM are reported.

==> picture [595 x 39] intentionally omitted <==