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Advancing the Neds Creek Copper Project, Murchison WAOctober 2026Copper resources with compelling exploration upside
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ASX: BOA 2 BOA consolidates its position in the Murchison Copper Belt–The Neds Creek Copper Project in the Murchison region of WA is now BOA’s 100% owned flagship project –With completion of the transaction:–BOA now owns the Thaduna and Green Dragon copper depositsF1 on granted Mining Leases–And highly prospective exploration tenements in the Murchison Copper Belt covering ~1,378km2 –Sandfire Resources Ltd is a substantial shareholder with approximately 6.2%–Thaduna and Green Dragon contain a combined Mineral Resource Estimate of 5.3 Mt @ 2.3% Cu for 121 Kt contained CuF1–Recent drilling has confirmed the copper potential at the Ricci Lee and Rooneys prospects–Awaiting assay results for another 4 prospects drilled – success will lead to a wider scale copper camp at Neds Creek–Further drill targets being identified from collation and interpretation of extensive exploration data Post transaction tenement holdings in the Murchison Copper Belt, WA F1, F2 and F3 refer page 21 Cu
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ASX: BOA 3 Corporate summary2 tranche placement1 of $9.2M funds BOA to continue exploration activities at Neds CreekTranche 1 – $7M, Tranche 2 $2.245M (subject to shareholder approval)Drilling planned to target the Ricci Lee, Thaduna and Rooneys prospects 3 1.Refer BOA ASX release “BOA Raises $9.2m to advance exploration at Neds Creek” 22 October 20262.5,000,000 unlisted options (at $0.06, expiring 22/01/2029) and 76,919,407 unlisted options (at $0.10, expiring 16/10/2029)3.Pre-placement: Market close 19 October 20264.As reported by BOA to the ASX “June 26 Quarterly Activities Report”, 24 July 2026 and does not include placement funds 3 Share price3$0.125Market Cap3$55.75MCash4$2.4MDebt$0M Capital structureSharesOptionsPost Transaction446,046,83381,919,4072 Placement (at 0.105)88,047,620 Post Placement534,094,453 81,919,4072 12.7%6.3%6.2% 74.8% A GriffinR Van der LaanSa ndfireOther Pre-placement share holdings
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ASX: BOA Board and team with extensive experience in capital markets, resource exploration and discovery and growing shareholder value. 4 Board and management Cath NormanChair Adrian GriffinDirector Graeme Purcell Managing Director Mark TomlinsonDirector David Reid – Exploration ManagerNik Karakashov – Senior Geologist and Exploration Manager Lithium and Nickel (WA)Alex Knight – Group AccountantLisa Wynne – Company Secretary
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ASX: BOA 1.Estimated costs of the transaction including legal costs, registry and settlement fees and costs related to the Placement 5 Use of fundsItem CostProjects expenditure$6,945,000Corporate administration$925,000Estimated cost of transaction1 $575,000Working capital / success-based drilling$800,000Total $9,245,000 75% of budget to spend in ground
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ASX: BOA 6 Planned BOA projects expenditureItem CostDrilling $6,045,000Heritage $200,000Exploration studies$100,000Tenement costs$200,000Geological support$400,000Total $6,945,000 Drilling will focus on the Ricci Lee, Thaduna and Rooneys prospects•Build the resource inventory•Drill other targets subject to results (eg Green Dragon)
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ASX: BOA 7 Neds Creek Copper Project, Murchison WA–100% ownership of a controlling position in the Yerrida Basin –Significant platform for resource growth and potential future development–Historic exploration in the region focused on VMS style systems similar to De Grussa –Structurally controlled epigenetic sediment hosted copper mineralisation (Thaduna and Green Dragon deposits) underexplored–Created opportunity for BOA – Ricci Lee and other prospects identified from previous drilling–Resource definition and exploration drilling commenced at Ricci Lee in August 2026 – highly encouraging results from assays received to date–Positioned within an excellent jurisdiction, good infrastructure Cu Post transaction tenement holdings in the Murchison Copper Belt, WA
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ASX: BOA ResourcesCategoryTonnes (Mt)Cu (%)Cu (Kt)ThadunaIndicated2.0 Inferred2.1Total4.1 2.5%103 Green DragonIndicated0.8Inferred0.4Total1.21.5%18Total ResourceIndicated2.8 Inferred2.5Total5.3 2.3%121 8 Thaduna copper deposit–Resource of 4.1 Mt at 2.5% for 103 kt CuF1 –Historical small-scale open pit from 1960s-70s–Main mineralised zone 500m in system of 1.7km strike–NNW trending, steeply dipping –Hosted in a carbon-filled brittle fault, with later quartz–carbonate veining and sulphide mineralisation defined to >600m vertical depth–Open at depth–Lightly explored along structural trend, potential repetitions along strike Cu F1 refer page 20
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ASX: BOA 9 –Moderate northerly plunge control–Copper sulphide mineralogy displays vertical zonation (chalcopyrite to bornite) with increasing grade at depth–Potential for resource growth by drill testing:–Upper portion and margins of resource envelope–Lower margins of the plunge –Open at depth (down dip and plunge)–Targets will be refined post completion and integration of data–Test for repetitions along strike of NNW trending Thaduna structural corridor, outside of Mining Lease Thaduna copper deposit F1 Cu F1 Refer page 20
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ASX: BOA 10 Neds Creek Project – resources and exploration focus–Simple exploration model, using Thaduna and Green Dragon as analogues–Focus on structurally controlled sediment hosted epigenetic copper mineralisation–Hosted in Thaduna Formation sediments–6 high-priority targets identified – all with ore grade intersections from historic drillingF4 and good geochemical signatures–Ricci Lee was focus of 2026 drilling and drilled for immediate resource definitionF2 –Other 5 exploration prospects tested with 92 AC holes for 5,722m–AC drilling focus on mineralisation controls – structural orientation and stratigraphic controls–Enigma Prospect remains opportunity for future F4 Refer page 20 Cu
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ASX: BOA 11 Exploration – RC drilling completed at Ricci Lee–46 RC holes for 7,364m completed August-September 2026–Program aimed at testing strike, dip and grade continuity of copper mineralisation–Sparse historic drilling over 500m of strike and 180m vertical extentF4 –BOA drilling tested mineralisation over 640m of strike and up to 220m verticallyF5 –Drilling defined the Main Lode structure and a new parallel Hanging-Wall Lode structure in the north–High-grade copper from 28 of 34 RC holes reported to dateF5,6,7,8 –Results to date have significantly improved understanding of copper mineralisation –Significant high-grade copper with resource potential F4,F5,6,7,8 Refer page 20 Cu
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ASX: BOA 12 Ricci Lee Prospect–Analogue to the Thaduna copper deposit, sub-parallel and 2km to the southwest, hosted in the same stratigraphy and structural setting–Main Lode high-grade mineralisation demonstrated over more than 400m of strike and more than 200m vertical depthF8–A parallel Hanging-Wall Lode provides additional exploration opportunity–Emerging shallow northerly plunge, similar to Thaduna? Remaining assays and modelling will guide resource estimation and further drilling Cu F8 Refer page 20
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ASX: BOA 13 High-grade copper continuity – section 7173680N –Section 7173680N from southern portion of Ricci Lee–Results show a coherent Main Lode structure–ResultsF5,6,7,8 include:–10m at 3.60% Cu, including 6m at 5.57% Cu (26NCRC032)–15m at 2.25% Cu from 130m (26NCRC003)–12m at 1.58% Cu from 64m, including 3m at 3.38% Cu and 2m at 3.14% Cu (26NCRC004)–10m at 2.78% Cu from 208m, including 8m at 3.33% Cu (26NCRC021)–Results demonstrate good continuity from surface to approximately 200m vertical depth–Strong consistent widths and copper grades in this southern portion of the Ricci Lee mineralised system. F5,6,7,8 Refer page 20 Cu
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ASX: BOA 14 High-grade copper continuity – section 7174000N –Section 7174000N from northern portion of Ricci Lee–Results show a coherent Main Lode structure and new parallel Hanging-Wall Lode structure–ResultsF5,6,7,8 include:–22m at 3.05% Cu from 250m, including 9m at 6.86% Cu (26NCRC023, Main Lode)–10m at 1.81% Cu from 133m, including 3m at 4.96% Cu (26NCRC023, Hanging-Wall Lode)–22m at 1.74% Cu from 104m, including 10m at 2.81% Cu (26NCRC013, Main Lode)–8m at 1.60% Cu from 87m, including 3m at 3.53% Cu (26NCRC014, Hanging-Wall Lode)–Results demonstrate good continuity from surface to greater than 220m vertical depth–Strong consistent widths and copper grades from surface in this northern portion of the Ricci Lee mineralised system. F5,6,7,8 Refer page 20
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ASX: BOA 15 Other prospects – AC drilling–AC drilling completed at Rooneys, Blockley, Mueller, Limestone Bore and Ward–92 holes for 5,722m –Targets identified from historic drillingF4 within Thaduna and Green Dragon structural corridors –Focus on identifying mineralisation controls – structural orientation and stratigraphic controls–Results expected through October and November–Extensive geophysical, geochemical and drill datasets to assist with additional target generation and ranking–Ongoing exploration to expand pipeline for additional copper targets Cu F4 Refer page 20
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ASX: BOA 16 Rooneys prospect – AC drilling–Maiden aircore drilling extends the interpreted mineralised trend at Rooneys to more than 500mF9, substantially expanding the target for follow-up RC drilling–Strong shallow intersections include:–4m at 3.54% Cu from 10m and 16m at 2.47% Cu from 58m (26NCAC0016)–10m at 1.75% Cu from 51m (26NCAC0001)–9m at 1.52% Cu from 28m (26NCAC0004)–Copper intersected in new mineralised structures provides an additional target beyond main east-west trend–Results strengthen the potential for additional copper systems across Neds Creek beyond Thaduna, Green Dragon and Ricci Lee –BOA is planning an expanded follow-up RC drilling program at Rooneys–Assays remain pending for Blockley, Mueller, Limestone Bore and Ward prospectsF9 Refer page 20 Cu
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ASX: BOA 17 BOA: 2026 the start of building copper resources–Six high-priority targets now drilled tested–Ricci Lee prospect - first drilling focus for rapid resource growth–Focus on advancing prospects and growing copper resources BOA Asset PortfolioPlanning for success in 2026 SnowysOthersAu /AgBald Hill E Priority Limestone Bore Ricci LeeEnigma Ward Ni Cu Li Target delineation JORC ResourceDrill testingAdvanced exploration Rooneys BlockleyCopper Mine Road High exploration risk Low exploration risk O Mueller Green Dragon Thaduna
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ASX: BOA Recommence drilling at Ricci Lee/RooneysResource evaluation of Ricci Lee Drilling assay results releasedCompleted 46-hole RC drill program at Ricci Lee and 92-hole exploration AC drill program Commence 2027 drill programComplete transaction 18 Drilling to drive resource definition and news flow Q3 2026Q4 2026Q1 2027Integration of Thaduna/Green Dragon resources into database Update prospect inventoryPlan 2027 drill program including drilling to increase resources at Thaduna/Green Dragon First phase targeting exercise
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ASX: BOA 19 BOA Resources–Copper resources with extensive exploration upside and prospect pipeline–Strong exploration team with prior discoveries and proven capital market execution–Commitment to disciplined capital allocation and strong governance –Growing BOA copper resources to economic scale
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ASX: BOA 20 DisclaimerForward Looking StatementsThis presentation is not an offer for financial products in any jurisdiction or a financial product recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of financial products, investors should rely on their own examination of BOA Resources Ltd (“BOA” or the “Company”) and consult with their own legal, tax, business and/or financial advisers.The information contained in this presentation has been prepared in good faith by the Company. However, no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, BOA, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted in this presentation.This presentation contains forward-looking statements relating to the intentions of the Company. These statements are not intended to be forecasts or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ from those referred to in this announcement. Accordingly, BOA, its directors, officers, employees and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated.Competent Person’s StatementThe information in this document that relates to Thaduna and Green Dragon Exploration Results, being the data used to generate the mineral resource estimate, is based on data collected and compiled under the supervision of Mr David Reid, who was Exploration Manager for Ventnor Resources Limited (completed over 90% of the exploration used in the mineral resource estimate), and is now the Exploration Manager for BOA Resources Ltd. Mr Reid, BSc (Geology), is a registered member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and the activity being undertaken to qualify as a Competent Person under the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Reid consents to the inclusion of the data in the form and context in which it appears.The information in this document that relates to the Thaduna and Green Dragon Mineral Resources is based on, and fairly reflects, information compiled by Mr Matt Bampton, who is an employee of Cube Consulting Pty Ltd and a Member of the Australian Institute of Geoscientists. Mr Bampton is not an employee of BOA Resources Limited. Mr Bampton has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Mr Bampton consents to the disclosure of information in this document in the form and context in which it appears. JORC Compliance StatementFootnotes:F1 As announced to the ASX by BOA, “BOA Acquires Copper Deposits in the Neds Creek Project WA”, 25 June 2026F2 As announced to the ASX by BOA, “BOA entry into WA Murchison Copper Belt”, 27 November 2025 F3 As reported in BOA Quarterly report to the ASX “June 2026 Quarterly Activities Report”, 24 July 2026F4 As reported to the ASX by BOA “Tenements granted at Neds Creek Copper Project ”, 16 June 2026F5 As reported to the ASX by BOA “High-grade copper confirmed at Ricci Lee”, 21 September 2026F6 As reported to the ASX by BOA “High-grade copper intersected at depth at Ricci Lee”, 28 September 2026F7 As reported to the ASX by BOA “High-grade copper assays continue to strengthen Ricci Lee”, 7 October 2026F8 As reported to the ASX by BOA “Drilling strengthens scale and continuity of Ricci Lee copper mineralisation”, 12 October 2026F9 As reported to the ASX by BOA “Rooneys copper target expands to more than 500m strike”, 14 October 2026 The Company confirms that:•It is not aware of any new information or data that materially affects the information included in the previous market announcements referred to in footnotes 1 - 4; and•All material assumptions and technical parameters underpinning the estimates in those announcements continue to apply and have not materially changed.
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Contact usGraeme PurcellManaging Directorgpurcell@boaresources.cominfo@boaresources.comboaresources.comNathan RyanInvestor Relationsnathan.ryan@nwrcommunications.com.au © BOA Resources LimitedACN 149 582 687