TURNSTONE RESOURCES LTD — Capital/Financing Update 2025

Jul 30, 2025

ASX ANNOUNCEMENT

31 July 2025

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COMPLETION OF ENTITLEMENT OFFER

South Harz Potash Limited (ASX:SHP) ( South Harz or the Company ) is pleased to announce the results of its pro-rata non-renounceable entitlement issue of one share for every three shares held by eligible shareholders on 3 July 2025, at an issue price of A$0.003 per share, to raise up to A$1.28 million (before costs) ( Entitlement Offer ), as set out in the Prospectus dated 30 June 2025 ( Prospectus ).

The Entitlement Offer closed on Friday 25 July 2025. Of the 427,688,078 shares offered under the Entitlement Offer, 188,661,286 new shares (representing new equity of A$565,984) were applied for by eligible shareholders under the Entitlement Offer ( New Shares ), including those subscribing for shares in excess of their entitlements. This represents approximately 44% of all shares offered under the Entitlement Offer, leaving a shortfall of A$717,080 for 239,026,792 Shares ( Shortfall Shares ). Additionally, under the Entitlement Offer, attaching options on a 1 for 2 basis, with an exercise price of A$0.006 per share and an expiry date of 2 years from the date of their issue ( Rights Options ) will also be issued.

The Entitlement Offer was also strongly supported by South Harz Directors who took up entitlements as follows:

• A$67,856 (22,618,728 New Shares and 11,309,364 Rights Options) of entitlements subscribed for by Rory Luff (Non-Executive Director) through his related entities;

• A$8,000 (2,666,670 New Shares and 1,333,335 Rights Options) of entitlements subscribed for by Reinout Koopmans (Non-Executive Director); and

• A$31,507 (10,502,384 New Shares and 5,251,193 Rights Options) of entitlements subscribed for by Len Jubber (Executive Chairman) through his related entity.

Allotment of all New Shares will take place today, following which South Harz will have 1,471,723,330 ordinary shares and 200,361,240 options and 48,500,000 performance rights on issue.

Activities targeting the placement of the A$717,770 of Shortfall Shares (in accordance with Section 2.7 of the Prospectus) have commenced, and the South Harz Directors are targeting a highly focussed programme to expeditiously complete the Company’s capital raising activities.

Committed funds from the recent two-tranche placement (refer ASX release dated 19 June 2025, Equity Raising of up to A$3.11 million to Advance South Harz Dual-Asset Strategy ) and the completed Entitlement Offer total approximately A$2.40 million in new equity (before costs), representing approximately 77% of the targeted new equity. This includes subscriptions of A$294,000 from South Harz Directors in the placement (the completion of which remains subject to shareholder approval at the Company’s General Meeting on 15 August 2025).

South Harz Executive Chairman Mr Len Jubber, commented:

“On behalf of our Board of Directors, I wish to thank all participating shareholders for their support during our capital raising activities, which has seen an excellent result in raising 77% to date of our targeted equity.

We will now conduct a highly targeted programme to expeditiously place the Shortfall Shares to new and existing investors who wish to participate in this opportunity.

We are excited to now be in position to execute on South Harz’s dual-asset strategy, targeting new critical minerals opportunities in parallel with preservation of long-term value growth options at Ohmgebirge and the broader South Harz Potash Project.”

REGISTERED OFFICE U13, 6 -10 Douro Place West Perth, W.A. 6005

CONTACT DETAILS ABN: 64 153 414 852 W: southharzpotash.com ASX Code: SHP E: info@southharzpotash.com P: +61 (0) 408 447 493 Frankfurt Code: A2DWXX

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Together, the Entitlement Offer (plus Shortfall Offer) and placement is targeted to raise gross new equity of up to A$3.11 million, which will enable South Harz to advance its dual-asset strategy over the next 9 - 12 months, comprising:

• i. Identification and targeted acquisition of a second mining project complementary to the Company’s Ohmgebirge Development ( Ohmgebirge ) and broader South Harz Potash Project in Germany.

• ii. Preservation and growth in the longer-term option value of Ohmgebirge and the South Harz Potash Project via targeted additional funding sources such as German R&D tax rebates and ongoing engagement with financial and industry parties on potential strategic asset-level investment.

This announcement was authorised for release by the South Harz Board of Directors

Investor and media enquiries

Len Jubber

Executive Chairman South Harz Potash Ltd info@southharzpotash.com

Michael Vaughan Fivemark Partners +61 422 602 720 michael.vaughan@fivemark.com.au

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About South Harz: Responsible potash mine development in the heart of the European market

South Harz is a potash exploration and development company with its principal project located in the historic South Harz Potash District region of Germany, midway between Frankfurt and Berlin.

The South Harz Project hosts a globally large-scale potash JORC (2012) Mineral Resource estimate of 258 million tonnes at 13.2% K2O of Indicated Resources and 5.1 billion tonnes at 10.6% K2O of Inferred Resources across four wholly owned project areas located favourably within central Europe. This comprises three perpetual potash mining licences, Ohmgebirge, Ebeleben and Mühlhausen-Nohra, and two potash exploration licences, Küllstedt and Gräfentonna.

The Ohmgebirge Development (1.0 Mtpa potash capacity) was the subject of a positive Pre-Feasibility Study (PFS) and maiden Ore Reserve declaration in May 2024. As part of that process, South Harz also agreed non-binding key terms for the purchase of the neighbouring Sollstedt mine property, which includes extensive underground and surface infrastructure (including multiple operating shafts). The envisaged brownfield development of Ohmgebirge (as facilitated by the Sollstedt mine) delivers significantly lower pre-production capital expenditure and surface footprint (relative to the greenfield alternatives).

South Harz also received the Spatial Planning Assessment for Ohmgebirge in June 2024, a key step in the permitting process which confirmed the compatibility of all submitted site options with regional planning requirements. www.southharzpotash.com

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For full Mineral Resource, Ore Reserve, Ohmgebirge PFS and Sollstedt acquisition key terms refer to South Harz ASX announcements Landmark Sollstedt Mine Purchase, Ohmgebirge Pre-Feasibility Study and Maiden Ore Reserve dated 22 May 2024, and Landmark Resource Upgrade at Ohmgebirge dated 12 July 2022. South Harz is not aware of any new information or data that materially affects the information included in these releases and confirms that all material assumptions and technical parameters underpinning the estimates in these releases continue to apply and have not materially changed.

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