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RRS Gold Coast Conference September 2026 Advancing the Mandilla Gold Project into Development Marc Ducler Managing Director
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astralresources.com.au ASX:AAR | 2 Important Information and Disclaimer The following notices and disclaimers apply to this presentation, and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation has been authorised for release to the Australian Securities Exchange (“ASX”) by the Board of directors of Astral (“Board”). This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. Summary information This presentation contains general and background information about Astral's activities current at the date of this presentation(unless otherwise indicated). The information in this presentation is in summary form and does not purport to be complete nor does it contain all the information in relation to Astral. It should be read in conjunction with Astral's other periodic and continuous disclosure announcements lodged with the ASX at www.asx.com.au. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. Not an Offer This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. Financial information All financial information in this presentation is in Australian dollars unless otherwise stated. Non-IFRS financial measures This presentation contains certain financial measures (such as NPV and IRR) that are not recognised under International Financial Reporting Standards (“IFRS”). Although the Company believes these measures provide useful information about the Company's financial forecasts, they should not be considered in isolation or as a substitute for measures of performance or cash flow prepared in accordance with IFRS. As these measures are not based on IFRS, they do not have standardised definitions and the way the Company calculates these measures may not be comparable to similarly titled measures used by other companies. Consequently, undue reliance should not be placed on these measures. Not investment advice This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include, amongst others, the risk of adverse or unanticipated market, financial or political developments. No Liability To the maximum extent permitted by law, Astral and its related bodies corporate and affiliates, and the respective officers, directors, partners, employees, agents and advisers of Astral and its related bodies corporate and affiliates: (i) disclaim all responsibility and liability (including, without limitation, any liability arising from fault, negligence or negligent misstatement) for any loss, expense, damage or cost arising from this presentation or reliance on anything contained in or omitted from it or otherwise arising in connection with this presentation; (ii) disclaim any obligations or undertaking to release any updates or revision to the information in this presentation to reflect any change in expectations or assumption; and (iii) do not make any representation or warranty, express or implied, as to the accuracy, reliability, completeness of the information in this presentation or that this presentation contains all material information about Astral or that a prospective investor or purchaser may require in evaluating a possible investment in Astral or acquisition of shares in Astral, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement. No party other than Astral has authorised or caused the issue of this presentation, or takes any responsibility for, or makes any statements, representations or undertakings in this presentation. Forward-Looking Statements This presentation may include forward-looking statements. Forward-looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “likely”, “nominal”, “conceptual”, “propose”, “will”, “forecast”, “estimate”, and similar expressions. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Astral. Neither the Company, its officers nor any other person gives any warranty, representation, assurance or guarantee that the events or other matters expressed or implied in this presentation (including the forward-looking statements) will actually occur. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statement in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Astral does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward-looking statement is based.
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astralresources.com.au ASX:AAR | 3 Important Information and Disclaimer Production Target The total Life of Mine Production Target (and forecast financial information derived from the Production Target) referred to in this presentation is underpinned by approximately 75% by Probable Ore Resources, approximately 5% by Indicated Mineral Resources which were not converted to Ore Reserves and the remaining approximately 20% by Inferred Mineral Resources. 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 itself (or the forecast financial information) will be realised. The proportion of Inferred Mineral Resources underpinning the Life of Mine Production Target is not the determining factor in project viability. The Inferred Mineral Resources do not feature as a significant proportion early in the mine plan and the forecast payback period for the Mandilla Gold Project is less than one year. Competent Person Statements Mandilla The information in this presentation that relates to the Ore Reserves for the Mandilla Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 25 June 2025 titled “Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 25 June 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au. The information in this presentation that relates to the Mineral Resources for the Mandilla Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 21 April 2026 titled "Mineral Resource Increased to 2.07 Million Ounces". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 21 April 2026 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au. Feysville The information in this presentation that relates to the Ore Reserves for the Feysville Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 25 June 2025 titled “Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 25 June 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au. The information in this announcement that relates to the Mineral Resources for the Feysville Gold Project reported in this announcement were announced in the Company’s ASX announcement dated 1 November 2024 titled "Astral's Group Gold Mineral Resource Increases to 1.46Moz with Updated Feysville MRE". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 1 November 2024 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au. Spargoville The information in this announcement that relates to the Mineral Resources for the Spargoville Project reported in this announcement were announced in the Company’s ASX announcement dated 7 May 2025 titled "Astral's Group Gold Mineral Resource Increases to 1.76Moz with the inclusion of Spargoville Gold Project". The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement dated 7 May 2025 and all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms the form and context in which Competent Persons’ findings are presented have not materially changed from previous market announcements. The reports are available to view on the ASX website and on the Company’s website at www.astralresources.com.au. Pre-Feasibility Study The information in this presentation that relates to the production target for the Mandilla Gold Project was reported by Astral in accordance with ASX Listing Rules and the JORC Code (2012 edition) in the announcement “Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve" released to the ASX on 25 June 2025. A copy of that announcement is available at www.asx.com.au. Astral 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. Astral confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that market announcement.
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astralresources.com.au ASX:AAR | 4 Important Information and Disclaimer Previously Reported Results Exploration Results The information in this presentation that relates to Exploration Results is extracted from the ASX Announcements (Original Announcements), which have been previously announced on the Company’s ASX Announcements Platform and the Company’s website at www.astralresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Original Announcements and that all material assumptions and technical parameters underpinning the estimates in the Original Announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original announcement.
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ASX:AAR |astralresources.com.au 5 Astral Resources Investment Highlights Tier-1 location in the WA Goldfields 2.1Moz Mineral Resource and growing +95kozpa production profile (first 12 years) Robust economics and rapid payback Strong balance sheet (~$65m cash) Clear pathway to DFS Multiple near- term catalysts Developing a new circa 100kozpa long-life gold project near Kalgoorlie
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astralresources.com.au ASX:AAR | 6 A significant long-life, high-margin gold development in Australia The Mandilla Gold Project is… A large and growing gold system in the WA Goldfields Conventional open pit mining and processing with strong metallurgy Demonstrating significant exploration upside across the tenement portfolio Located in a Tier-1 jurisdiction, with low sovereign risk and adjacent to established infrastructure
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astralresources.com.au ASX:AAR | 7 Corporate Overview Options / Rights 16.3M/13.4M (Ave exercise price 9c) Cash on Hand A$65.1M (Jun Qtr 2026) Significant ShareholdersResearch Coverage Institutional 23.8% Non-Institutional 72.3% Board & Management 3.9% Shares On Issue 1,809M Market Capitalisation A$361.8M Enterprise Value A$296.7M Company Snapshot Share Price A$0.20 Share Price Performance
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astralresources.com.au ASX:AAR | 8 Corporate Overview Options / Rights 16.3M/13.4M (Ave exercise price 9c) Cash on Hand A$65.1M (Jun Qtr 2026) Significant ShareholdersResearch Coverage Institutional 23.8% Non-Institutional 72.3% Board & Management 3.9% Shares On Issue 1,809M Market Capitalisation A$361.8M Enterprise Value A$296.7M Company Snapshot Share Price A$0.20 Peer Comparison: Enterprise Value per Resource Ounce (A$/oz)1 1 – Refer to Appendix 3 for source information. $373 $334 $280 $272 $245 $231 $224 $143 $143 $137 $126 $115 $100 $89 - $50 $100 $150 $200 $250 $300 $350 $400 MM8 RXL AUC MI6 BM1 SGC PC2 AAR GG8 SMI AZY BTR STN HRN Average: $201/oz
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astralresources.com.au ASX:AAR | 99 Corporate & Technical Capability Management Team Board of Directors Justin Osborne Non-Executive Director Mr Osborne has over 30 years experience as an exploration geologist. He was previously an Executive Director at Gold Road Resources (ASX: GOR) and was pivotal to the resource development of the world class Gruyere Gold Deposit (6.6Moz Au). Peter Stern Non-Executive Director Is a graduate of Monash University with a Bachelor of Science (geology major). Mr Stern’s career has been in corporate advisory, spending six years with Macquarie Bank and three years with both UBS and Deutsche Bank. David Varcoe Non-Executive Director David Varcoe is a mining engineer has more than 30 years experience in the industry. He has extensive operational and managerial experience across a number of commodities including gold, iron ore, copper, diamonds, coal, uranium and rare earths. Mark Connelly Non-Executive Chairman Mark is a Corporate Executive with a track record for deal making and was principally responsible for the merger of Papillon Resources and B2 Gold Corp in October 2014, as well for Adamus Resources Limited and Endeavour Mining Merger in September 2011. Marc Ducler Managing Director Marc Ducler has over 20 years’ experience in the mining industry. He was previously the Managing Director of Egan Street Resources (ASX:EGA) until its successful takeover by Silver Lake Resources (ASX:SLR). Brendon Morton Chief Financial Officer & Company Secretary Brendon has over 20 years experience including a significant amount of experience in the global resources sector, including Australia, Africa and Asia. Brendon has held a number of executive financial and company secretarial roles with both ASX listed and unlisted companies operating in the resources sector. Jed Whitford Chief Operating Officer Jed has over 25 years experience in the mining industry. In his most recent assignment Jed held a senior role with Glencore Nickel's global management team, he has previously held roles with EganStreet Resources, Xstrata, Minara Resources, Golder Associates and Gold Fields amongst others. Julie Reid Geology Manager Julie has 36 years experience working throughout Australia, Vietnam and Indonesia covering a range of commodities within diversified geological terrain. Julie holds a Batchelor of Applied Science from Curtin University of Technology. Mat Wilson General Manager - Mandilla Mathew is a mining engineer with over 20 years’ experience in the mining industry. He has worked in strategic, project development and operational management roles across a diverse range of jurisdictions including Australia, Africa, New Caledonia, South America and Canada. Notably, Mathew was the Mine Manager during the development and successful startup of the fully autonomous Cote Gold Mine in Ontario. Richard Jones Exploration Manager Richard has over 14 years' experience as an exploration geologist, working in gold, nickel and lithium. Prior to joining Astral Resources, Richard held a senior position in the exploration team at Egan Street Resources. Richard is currently the Exploration Manager for Astral’s Mandilla, Feysville and Spargoville Projects.
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ASX:AAR |astralresources.com.au 10 Mandilla PFS Highlights – Compelling Project Economics +95kozpa production profile 1.1g/t average for 12yrs Further 6.5 years of LG stockpiles at 42kozpa Long mine life 13.2 yrs mining, 18.5 yrs processing Profitable, high-margin (at A$4,250/oz Au) AISC A$ 2,085/oz over LOM Funding quantum in reach 2.75Mtpa plant and NPI A$180.4M Pre-production A$46.7M Robust Financials (post Capex/Pre-tax at A$4,250/oz Au) NPV8 $1.4B FCF $2.8B Payback 12 months Simple and conventional Conventional D&B, load & haul open pit Strip ratio of 5.5x* Simple processing Excellent metallurgy 95.5% recovery * Theia only strip ratio. Strip ratio over the LoM is 6.4x when including the remaining Mandilla and Feysville deposits 2 - Refer to Appendix 1 for detailed PFS financial information and to ASX Announcement dated 25 June 2025. Project Economics at Spot Au Price ($6,250) $2.9B2 NPV8 (pre-tax) $5.6B FCF +95kozpa Production profile 6 months Payback A$ 2,148/oz AISC over LOM
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astralresources.com.au ASX:AAR | 11 • GR Engineering working on the DFS and Target Cost model • Capital and operating costs have been received • ITE underway (initial scope limited to the April 2026 MRE) • Detailed mine designs, schedules and mine costing underway • LUA executed with the Marlinyu Ghoorlie Native Title Claim Group over the Mandilla and Spargoville Gold Project areas • Site layouts scheduled for September Quarter with NVCP, MDCP and Works Approval immediately thereafter Mandilla Definitive Feasibility Study
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astralresources.com.au ASX:AAR | 12 Development Schedule* – Clear Pathway to Production Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 In Progress Stage 1 Thea in-fill Think Big Mining DFS Delivery Debt process underway Approvals Final Investment Decision * DFS timing impacted by finalisation of site layouts as a result of the Mineral Rights Agreement and the NTA (Heritage surveys)
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astralresources.com.au ASX:AAR | 13 • Diamond drilling program has been underway since March 2026 • 14 holes for 8,529 metres completed to date • Original program 6-hole (3,000m) expanded to 21-hole (11,000) • All completed holes have logged significant quartz-sulphide vein percentages and visible gold* – indicative of a potential significant extension to the Theia mineralisation at depth • Assay results reported for 9 of the 14 completed holes Theia – The key deposit –remains open at depth * Cautionary Statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. See Appendix 4 for logging of holes for which chemical assay results have not yet been reported.
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ASX:AAR |astralresources.com.au 14 • AMRCD263 returned significant gold mineralisation 600m downhole • AMRCD259 returned significant gold mineralisation 735m downhole • Drilling has demonstrated significant gold mineralisation and a potential extension of Theia up to 350 metres below the base of April 2026 MRE shell Theia Deeps Drilling Progress
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ASX:AAR |astralresources.com.au 15 • This section is located further 100m south of the previous section • AMRCD378 returned significant gold mineralisation 53m at 4.67g/t Au starting below the base of the Resource shell • AAMRCD77 (assays pending) has logged significant quartz-sulphide veining and visible gold* from the base of the pit extending 200m below the Resource shell Theia Deeps Drilling Progress (continued) * Cautionary Statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. See Appendix 4 for logging of holes for which chemical assay results have not yet been reported.
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ASX:AAR |astralresources.com.au • 99 holes (11,121m) in-fill completed at Stage 1 (average 1.93g/t Au) • 431 holes (44,400m) in-fill in progress at Stage 1 (average 1.39g/t Au for the first 144 holes for 14,533m) • 43 holes (4,324m) in-fill completed at Stage 2 (average 1.22g/t Au) • On completion, entirety of Stage 1 will be in the higher confidence Measured Resource category Theia de-risking – drilling to achieve the higher confidence Measured Resource category
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astralresources.com.au ASX:AAR | 17 • Feysville Project located 14km south of Kalgoorlie – emerging high-grade satellite operation • Feeding into central production and processing hub located at Mandilla • Comprises multiple deposits – Think Big, Kamperman, Rogan Josh • Heritage survey recently completed at Kamperman – drilling to recommence in the December Quarter • Kamperman is an exciting high-grade discovery – Resource update underway • Think Big – early cash-flow opportunity through mining JV Feysville – Satellite Opportunity
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astralresources.com.au ASX:AAR | 18 Think Big Gold Project proposed site layout • LOI executed to mine ~ 32,000oz from Think Big as an early revenue opportunity to fund development of the Mandilla Gold Project • Native Title Agreement executed with Marlinyu Ghoorlie • Mining Tenement M 26/846 recently granted • NVCP approved and MDCP currently under assessment by the regulator Think Big has the potential to contribute significant free cash-flow to support the Mandilla Gold Project funding requirements Feysville – Think Big Monetisation
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astralresources.com.au ASX:AAR | 19 Think Big Gold Project proposed site layout • 6,000m of RC drilling completed to in-fill Think Big ahead of mining • Best results include: • 11m at 7.34g/t Au • 12m at 5.89g/t Au • 3m at 10.0g/t Au, 2m at 9.53g/t Au and 9m at 6.01g/t Au • 2m at 8.01g/t Au, 12m at 2.99g/t Au and 12m at 4.14g/t Au • 11m at 3.97g/t Au • 2m at 3.54g/t Au and 16m at 2.33g/t Au • 4m at 8.27g/t Au Feysville – Think Big Monetisation
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astralresources.com.au ASX:AAR | 20 Spargoville – Significant Exploration Upside ~14km of highly prospective strike between the Wattle Dam and Eagle Complex with very little deep drilling outside of known Resource areas • Two high-priority areas identified for immediate follow-up. • Resource updates underway at the Spiders and Eagles Nest – ahead of the upcoming exploration programs • Heritage clearance survey recently completed – drilling at Wattle Dam to commence in the December Quarter • Both areas are essentially untested below 100m drill depth despite favorable geological conditions, gold- in-soil anomalism and proximity to known deposits Wattle Dam Eagle Complex Holes > 100m depth assayed for gold across Spargoville tenements
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21 Key Catalysts Theia in-fill and Theia Deeps diamond drilling Mandilla MRE updates DFS completion Think Big mine production Kamperman and Spargoville exploration Kamperman and Spargoville MRE updates
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ASX:AAR |astralresources.com.au ASX:AAR |astralresources.com.au 22 Investment Summary Emerging WA gold developer Robust long-life project economics Significant resource growth potential Strong balance sheet Clear pathway to DFS
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ASX: AAR astralresources.com.au Suite 2, 6 Lyall St, South Perth, WA, 6151 T: +61 8 9382 8822 E: info@astralresources.com.au Contact Us * Cautionary Statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. See Appendix 4 for logging of holes for which chemical assay results have not yet been reported.
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ASX:AAR |astralresources.com.au 24 (1,200) (900) (600) (300) - 300 600 900 1,200 1,500 1,800 2,100 2,400 (300) (200) (100) - 100 200 300 400 500 600 0 1 2 3 4 5 6 7 8 9 10 11 12 13 Cum Cash Flow(RHS) Net Revenue Opex Corporate, Exploration, Feasibility Change in Working Capital Capex Sustaining Capex Annual Cash Flow Key Financial Assumptions Gold Price Assumed A$/oz 4,250 Discount Rate % 8 Foreign Exchange AUD:USD 0.65 Key Project Metrics Payable Metal Koz 1,414 Gold Revenue A$M 6,011 Mining Costs – Total A$M 1,594 Mining Costs – Pre-Production (capitalised) A$M -40 Mining Costs A$M 1,553 Processing (including Maintenance, Transport, Insurance & Refining) A$M 963 General and Administrative Costs A$M 166 Royalties A$M 187 Project EBITDA A$M 3,142 Depreciation and Amortisation A$M 307 Net Profit Before Tax A$M 2,835 Capital Pre-Production Capital Expenditure (incl. contingency) A$M 180 Pre-Production Costs - Mining/General & Administrative A$M 47 Sustaining Capital A$M 80 LOM Capital A$M 307 Project Returns FCFF (Pre-tax) A$M 2,835 FCFF (Post-tax) A$M 2,012 Pre Tax NPV @ FID (8.0%) AUD M 1,400 Pre Tax IRR (at FID) % 101% Pre Tax payback - From first Au production Years 0.92 Post Tax NPV @ FID (8.0%) AUD M 1,001 Post Tax IRR (at FID) % 86% Post Tax payback - From first Au production Years 1.00 Equity NPV @ FID (8.0%) AUD M 1,001 Post Tax IRR (at FID) % 86% Capital Intensity (Steady State) AUD/oz p.a. 2,381 Pre-Tax NPV/Pre-Production Capital x 6.16 Post-Tax NPV/Pre-Production Capital x 4.41 Appendix 1 - PFS Financials Stage 1 Cash Flow Operating Costs1 $ million $/t Milled $/oz Mining2 $1,553 $30.81 $1,098 Processing (incl. Maintenance, Transport, Insurance & Refining) $963 $18.95 $681 General & Administrative (Site) $166 $3.28 $118 C1 Cash Cost3 $2,682 $52.80 $1,897 Royalties $187 $3.69 $132 Sustaining Capital $80 $1.57 $56 All-in Sustaining Cost (AISC)4 $2,949 $58.05 $2,085 LoM of Mining Costs: $4.25 per tonne $12.48 per BCM
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ASX:AAR |astralresources.com.au 25 Appendix 2 – Mineral Resources & Ore Reserves Project Probable Total Ore Reserve Tonnes Grade Metal Tonnes Grade Metal (Mt) (Au g/t) (oz Au) (Mt) (Au g/t) (oz Au) Mandilla 34.3 0.9 1,000,000 34.3 0.9 1,000,000 Feysville 2.3 1.2 88,000 2.3 1.2 88,000 Total 36.6 0.9 1,082,000 36.6 0.9 1,082,000 Ore Reserves are a subset of Mineral Resources. Ore Reserves are estimated using a gold price of AUD $3,000 per ounce. The preceding statement of Ore Reserves conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. The Ore Reserves for Mandilla are reported at a cut-off grade of 0.30 g/t Au lower cut-off and Feysville are reported at a cut-off grade of 0.40 g/t Au lower cut-off. Group Ore Reserve Estimate Group Mineral Resource Estimate Project Measured Indicated Inferred Total Mineral Resource Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal Tonnes Grade Metal (Mt) (Au g/t) (oz Au) (Mt) (Au g/t) (oz Au) (Mt) (Au g/t) (oz Au) (Mt) (Au g/t) (oz Au) Mandilla 1.3 1.3 57,000 32.6 1.0 1,092,000 19.6 0.9 588,000 53.5 1.0 1,736,000 Feysville - - - 3.5 1.3 144,000 1.5 1.1 53,000 5.0 1.2 196,000 Spargoville - - - 1.9 1.3 81,000 1.1 1.6 58,000 3.0 1.4 139,000 Total 1.3 1.3 57,000 38.1 1.1 1,317,000 22.2 1.2 698,000 61.6 1.0 2,072,000 The preceding statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures The Mineral Resources are reported at 0.40g/t Au lower cut-off for Mandilla and 0.39 g/t Au lower cut-off for Spargoville and Feysville, while constrained within pit shells derived using a gold price of AUD$4,500 per ounce for Mandilla, AUD$3,500 for Spargoville and AUD$2,500 per ounce for Feysville.
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ASX:AAR |astralresources.com.au 26 Appendix 3 – June Quarter 2026 Data & Mineral Resource Estimate for gold developers Company Code Cash Debt Source MRE Source Antipa Minerals AZY $39.1 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 2.90Moz Noosa Mining Conference Presentation Brightstar Resources BTR $122.0 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 4.46Moz Building Mines and Growing Resources Presentation Astral Resources AAR $65.1 $0.0 Quarterly Activities & Cashflow Report 2.07Moz Melbourne Mining Club Cutting Edge Series Presentation Ausgold AUC $87.4 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 2.44Moz Quarterly Activities/Appendix 5B Cash Flow Report Minerals 260 MI6 $211.0 $0.0 June 2026 Quartlerly Activities and Cashflow Report 6.20Moz Bullabulling Resource Increases to 6.2Moz Rox Resources RXL $152.7 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 2.17Moz Noosa Mining Investor Conference 22-24 July Presentation Medallion Metals MM8 $111.0 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report + Net Proceeds from $60m captial raising 1.1Moz Investor Presentation Saturn Metals STN $85.4 $0.0 Quarterly Activities and Cashflow Report + Net Proceeds from $25m captial raising (Tranche 1) + SPP 2.83Moz Apollo Hill gold resource jumps by 590,000 ounces to 2.83 million ounces Santana Minerals SMI $188.3 $0.0 Quarterly Activities & Cashflow Report 2.34Moz Presentation - Bell Potter Unearthed Horizon Gold HRN $24.0 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 2.30Moz Gum Creek Project - DFS Study Presentation Gorilla Gold GG8 $19.8 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 1.5Moz Investor Presentation - Resources Rising Stars Gather Round Sinclair Gold SGC $38.3 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 0.92Moz Noosa Mining Conference Presentation July 2026 PC Gold PC2 $93.3 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report + Net Proceeds from $75m captial raising 1.51Moz Interim MRE Update Delivers 1.51 Moz Au at Spring Hill Ballard Mining BM1 $61.8 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 1.18Moz Quarterly Activities/Appendix 5B Cash Flow Report Antipa Minerals AZY $39.1 $0.0 Quarterly Activities/Appendix 5B Cash Flow Report 2.90Moz Noosa Mining Conference Presentation
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ASX:AAR |astralresources.com.au 27 Appendix 4 – Logging Table Py = pyrite, Po = pyrrhotite, Gl = galena, Au = gold, Cpy = Chalcopyrite All occurrences of visible gold are estimated to be below 0.01% and all logged occurrences of sulphide mineralisation individually and in combination are estimated to be below 1%. Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation AMRCD375 120-130 9.0 Py AMRCD375 440-450 2.5 Py AMRCD377 220-230 1.9 Py AMRCD377 540-550 2.8 Py Po AMRCD424 290-300 4.1 Py Po Au AMRCD375 130-140 2.7 Py AMRCD375 450-460 1.8 Py AMRCD377 230-240 4.7 Py Po Gl Au AMRCD377 550-560 7.6 Py Po Gl Au AMRCD424 300-310 2.7 Py Po AMRCD375 140-150 1.1 Py Au AMRCD375 460-470 5.9 Py Gl Au AMRCD377 240-250 1.2 Py AMRCD377 560-570 1.2 Py AMRCD424 310-320 2.0 Py AMRCD375 150-160 3.3 Py Au AMRCD375 470-480 6.1 Py Po AMRCD377 250-260 1.8 Py AMRCD377 570-580 1.5 Py AMRCD424 320-330 2.0 Py Gl Au AMRCD375 160-170 4.0 Py Po Gl AMRCD375 480-490 6.4 Py Po AMRCD377 260-270 0.7 Py AMRCD377 580-590 1.3 Py AMRCD424 330-340 2.9 Py Po Gl Au AMRCD375 170-180 2.9 Py AMRCD375 490-500 5.0 Py Po Au AMRCD377 270-280 1.6 Py AMRCD377 590-600 5.1 Py Po Cpy Gl Au AMRCD424 340-350 1.2 Py Po Cpy Gl Au AMRCD375 180-190 1.7 Py AMRCD375 500-510 5.4 Py Po Cpy Gl AMRCD377 280-290 1.2 Py AMRCD377 600-610 0.6 Py Po AMRCD424 350-360 2.5 Py Po AMRCD375 190-200 4.1 Py Au AMRCD375 510-520 5.6 Py Po Cpy Gl AMRCD377 290-300 1.0 Py AMRCD424 040-050 2.1 Py AMRCD424 360-370 0.6 Py AMRCD375 200-210 6.3 Py Au AMRCD375 520-530 2.4 Py AMRCD377 300-310 3.6 Py AMRCD424 050-060 2.0 Py AMRCD424 370-380 0.1 Py AMRCD375 210-220 1.6 Py AMRCD375 530-540 2.7 Py AMRCD377 310-320 0.7 Py AMRCD424 060-070 4.4 Py Au AMRCD424 380-390 2.1 Py Po Cpy AMRCD375 220-230 2.5 Py AMRCD375 540-550 1.2 Py Cpy AMRCD377 320-330 1.5 Py AMRCD424 070-080 1.2 Py AMRCD424 390-400 1.5 Py Po Au AMRCD375 230-240 4.0 Py Po Au AMRCD375 550-560 3.5 Py Cpy AMRCD377 330-340 1.9 Py AMRCD424 080-090 4.1 Py Gl AMRCD424 400-410 1.9 Py Po Cpy Gl Au AMRCD375 240-250 1.7 Py AMRCD375 560-570 1.6 Py AMRCD377 340-350 1.9 Py AMRCD424 090-100 5.2 Py Au AMRCD424 410-420 0.9 Py AMRCD375 250-260 1.7 Py AMRCD375 570-580 3.9 Py Po Au AMRCD377 350-360 0.8 Py AMRCD424 100-110 1.4 Py Au AMRCD424 420-430 0.9 Py AMRCD375 260-270 2.9 Py Po AMRCD375 580-590 2.2 Py Cpy AMRCD377 360-370 1.4 Py Cpy Au AMRCD424 110-120 1.6 Py AMRCD424 430-440 1.1 Py AMRCD375 270-280 1.8 Py Po AMRCD375 590-600 2.9 Py AMRCD377 370-380 0.9 Py AMRCD424 120-130 0.9 Py AMRCD424 440-450 0.9 Py AMRCD375 280-290 2.5 Py AMRCD377 060-070 2.2 Py Po Cpy AMRCD377 380-390 2.3 Py AMRCD424 130-140 1.3 Py AMRCD424 450-460 1.1 Py Au AMRCD375 290-300 3.9 Py Po Au AMRCD377 070-080 1.6 Py AMRCD377 390-400 2.7 Py AMRCD424 140-150 2.1 Py Gl AMRCD424 460-470 2.6 Py Po Cpy Gl Au AMRCD375 300-310 3.1 Py Po Au AMRCD377 080-090 1.2 Py AMRCD377 400-410 4.8 Py AMRCD424 150-160 1.5 Py Au AMRCD424 470-480 1.8 Py Po AMRCD375 310-320 1.6 Py Po Au AMRCD377 090-100 2.7 Py Au AMRCD377 410-420 2.5 Py AMRCD424 160-170 0.4 Py AMRCD424 480-490 8.3 Py Po AMRCD375 320-330 2.0 Py Po AMRCD377 100-110 3.1 Py AMRCD377 420-430 5.1 Py Po Au AMRCD424 170-180 0.4 Py AMRCD424 490-500 2.1 Py Po AMRCD375 330-340 1.5 Py Po AMRCD377 110-120 3.8 Py Po Au AMRCD377 430-440 2.4 Py Po Cpy Gl Au AMRCD424 180-190 0.5 Py AMRCD424 500-510 0.7 Py AMRCD375 340-350 0.5 Py AMRCD377 120-130 1.4 Py Gl AMRCD377 440-450 0.7 Py AMRCD424 190-200 0.3 Py AMRCD424 510-520 2.2 Py AMRCD375 350-360 1.9 Py Po AMRCD377 130-140 3.7 Py Po Cpy Au AMRCD377 450-460 1.6 Py Po Au AMRCD424 200-210 0.5 Py AMRCD424 520-530 1.5 Py AMRCD375 360-370 3.5 Py Po Au AMRCD377 140-150 1.7 Py AMRCD377 460-470 2.3 Py Po Au AMRCD424 210-220 0.5 AMRCD424 530-540 0.6 Py AMRCD375 370-380 2.0 Py Po AMRCD377 150-160 1.6 Py AMRCD377 470-480 2.2 Py Po Cpy Au AMRCD424 220-230 0.6 Py AMRCD424 540-550 7.6 Py Po Cpy Gl Au AMRCD375 380-390 1.2 Py Au AMRCD377 160-170 0.5 Py AMRCD377 480-490 1.4 Py Au AMRCD424 230-240 0.7 Py AMRCD424 550-560 2.2 Py Po Gl Au AMRCD375 390-400 0.8 Py AMRCD377 170-180 0.9 Py AMRCD377 490-500 3.1 Py Po Au AMRCD424 240-250 2.1 Py Po AMRCD424 560-570 3.0 Py AMRCD375 400-410 2.9 Py AMRCD377 180-190 1.7 AMRCD377 500-510 1.8 Py Po Au AMRCD424 250-260 3.9 Py Po Au AMRCD424 570-580 1.8 Py AMRCD375 410-420 1.9 Py AMRCD377 190-200 3.6 Py Po AMRCD377 510-520 5.1 Py Po AMRCD424 260-270 2.4 Py Po Au AMRCD424 580-590 2.6 Py AMRCD375 420-430 2.0 Py Cpy AMRCD377 200-210 2.4 Py Po Au AMRCD377 520-530 7.6 Py Po Cpy Gl AMRCD424 270-280 3.7 Py Po Au AMRCD424 590-600 2.2 Py Po AMRCD375 430-440 1.6 Py AMRCD377 210-220 1.8 Py Po AMRCD377 530-540 2.5 Py Po AMRCD424 280-290 3.6 Py Po Gl Au AMRCD424 600-610 2.1 Py
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ASX:AAR |astralresources.com.au 28 Appendix 4 – Logging Table Py = pyrite, Po = pyrrhotite, Gl = galena, Au = gold, Cpy = Chalcopyrite All occurrences of visible gold are estimated to be below 0.01% and all logged occurrences of sulphide mineralisation individually and in combination are estimated to be below 1%. Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation Hole ID Downhole depth (m) Average quartz percentage Logged mineralisation AMRCD424 610-620 0.5 Py AMRCD466 340-350 1.3 Py AMRCD467 070-080 3.3 Py Po Gl AMRCD467 390-400 1.2 Py AMRCD466 030-040 AMRCD466 350-360 1.1 Py AMRCD467 080-090 2.1 Py Po AMRCD467 400-410 3.3 Py AMRCD466 040-050 0.7 AMRCD466 360-370 1.0 Py AMRCD467 090-100 2.2 Py Po AMRCD467 410-420 2.4 Py Po AMRCD466 050-060 AMRCD466 370-380 0.6 Py AMRCD467 100-110 3.7 Py Po Cpy Au AMRCD467 420-430 1.6 Py AMRCD466 060-070 0.8 Py AMRCD466 380-390 0.8 Py AMRCD467 110-120 1.1 Py AMRCD467 430-440 2.8 Py AMRCD466 070-080 1.3 AMRCD466 390-400 1.3 Py AMRCD467 120-130 5.2 Py Po Gl AMRCD467 440-450 3.5 Py Po AMRCD466 080-090 1.2 Py AMRCD466 400-410 1.9 Py AMRCD467 130-140 2.1 Py AMRCD467 450-460 0.9 Py AMRCD466 090-100 1.9 Py Au AMRCD466 410-420 1.5 Py AMRCD467 140-150 3.3 Py Au AMRCD467 460-470 0.9 Py AMRCD466 100-110 2.0 Py AMRCD466 420-430 2.0 Py AMRCD467 150-160 0.6 Py AMRCD467 470-480 1.2 Py AMRCD466 110-120 2.6 Py Au AMRCD466 430-440 1.0 AMRCD467 160-170 1.7 Py AMRCD467 480-490 1.3 Py Gl AMRCD466 120-130 2.3 Py AMRCD466 440-450 0.7 Py Cpy AMRCD467 170-180 3.8 Py AMRCD467 490-500 1.2 Py AMRCD466 130-140 0.9 Py AMRCD466 450-460 1.4 Py AMRCD467 180-190 0.5 Py AMRCD467 500-510 0.4 Py AMRCD466 140-150 2.4 Py AMRCD466 460-470 2.3 Py AMRCD467 190-200 0.9 Py Au AMRCD467 510-520 0.8 Py AMRCD466 150-160 2.3 Py AMRCD466 470-480 1.3 Py AMRCD467 200-210 2.8 Py Po Gl AMRCD467 520-530 0.4 Py AMRCD466 160-170 0.1 Py AMRCD466 480-490 2.6 Py AMRCD467 210-220 1.0 Py Po AMRCD467 530-540 1.5 Py AMRCD466 170-180 0.9 Py AMRCD466 490-500 1.7 Py AMRCD467 220-230 4.7 Py Po Au AMRCD467 540-550 2.1 Py AMRCD466 180-190 0.4 Py AMRCD466 500-510 0.3 Py AMRCD467 230-240 1.7 Py AMRCD467 550-560 2.8 Py Po AMRCD466 190-200 0.5 AMRCD466 510-520 0.6 Py AMRCD467 240-250 1.9 Py Po AMRCD467 560-570 0.9 Py AMRCD466 200-210 0.8 Py AMRCD466 520-530 0.9 Py Cpy AMRCD467 250-260 2.4 Py Po AMRCD467 570-580 1.2 Py AMRCD466 210-220 0.5 Py AMRCD466 530-540 2.0 Py Au AMRCD467 260-270 4.1 Py Po AMRCD467 580-590 1.9 Py AMRCD466 220-230 1.1 Py AMRCD466 540-550 0.7 Py AMRCD467 270-280 1.3 Py AMRCD467 590-600 0.6 Py AMRCD466 230-240 0.4 Py AMRCD466 550-560 1.9 Py Gl AMRCD467 280-290 4.2 Py Au AMRCD467 600-610 1.3 Py Po AMRCD466 240-250 1.1 Py AMRCD466 560-570 0.7 Py AMRCD467 290-300 3.1 Py AMRCD466 250-260 5.1 Py Po Cpy Gl AMRCD466 570-580 4.2 Py AMRCD467 300-310 2.9 Py Po AMRCD466 260-270 1.5 Py AMRCD466 580-590 2.5 Py Po AMRCD467 310-320 2.6 Py Po AMRCD466 270-280 3.4 Py AMRCD466 590-600 2.6 Py Po Cpy Au AMRCD467 320-330 4.5 Py Au AMRCD466 280-290 3.3 Py Po Cpy AMRCD466 600-610 0.9 Py AMRCD467 330-340 1.6 Py Au AMRCD466 290-300 5.0 Py AMRCD467 020-030 1.1 Py AMRCD467 340-350 1.9 Py Po AMRCD466 300-310 13.7 Py Po AMRCD467 030-040 1.9 Py AMRCD467 350-360 4.3 Py Po AMRCD466 310-320 11.1 Py Po AMRCD467 040-050 1.9 Py Po AMRCD467 360-370 2.7 Py Po AMRCD466 320-330 2.1 Py AMRCD467 050-060 1.3 Py AMRCD467 370-380 1.4 Py Po Gl AMRCD466 330-340 3.2 Py AMRCD467 060-070 3.2 Py Po Au AMRCD467 380-390 0.6 Py