Earnings release
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ASX Announcement Registered Office ABN 47 116 648 956 Level 3, 46 Colin Street, West Perth WA 6005, Australia PO Box 428, West Perth WA 6872 T: +61 8 9322 3960 info@chalicemining.com www.chalicemining.com @chalicemining chalice-mining 27 October 2026 September 2026 Quarterly Activities Report Highlights Gonneville PGM-Nickel-Copper-Cobalt Project, Western Australia (100%-owned) « Funding strategy and discussions progressing with a current focus on byproduct stream(s), offtake- linked finance and strategic investment. « Strong inbound interest in copper concentrate offtake given exceptionally tight copper market conditions, whilst sulphur market tightness has driven new interest in nickel concentrate offtake. « Definitive Feasibility Study (FS) progressing and on track for completion in Q3 CY27: « 8-week continuous pilot plant of the full process flowsheet due to commence in November, processing five tonnes of ore representative of the first three years of plant ore feed – the final de-risking step for the flowsheet and project financiers. « Independent Technical Engineer (ITE) Palaris is providing independent oversight of the pilot plant and completing detailed due diligence of all study work to date. « Palladium-platinum-gold-nickel elution process (part of the leach circuit ) materially simplified relative to PFS configuration and proven in testwork. « FS Engineering to commence in November, with no major changes to PFS development plan scope (two-stage 5-14Mtpa open-pit), cost or schedule expected. « Flotation and leach testwork using Alkimos treated wastewater completed, with no negative impact on flotation or leach performance. « Open-pit and site infrastructure geotechnical drilling/logging materially completed. « Off-site infrastructure (buried water pipeline and 132kV monopole/underground power line) FS-level designs materially complete. « Strategic advisor Odin completed a detailed technical review of the Project, endorsing the high quality of the development plan and identifying potential for incremental upside – review augments the PFS and Chalice’s development plan for the Project. « Environmental modelling, assessment of potential environmental impacts and planned mitigations continued ahead of imminent submission of Environmental Review Document (ERD) to the EPA and Public Environment Report (PER) to the Commonwealth in Q4 CY26 – a major milestone for the Project and commencement of detailed regulatory assessment . « Former WA EPA Chair Dr Tom Hatton completed an independent review of the environmental approvals strategy, schedule and execution – review provides a strong endorsement of the work to date, supporting the targeted Final Investment Decision in H1 CY28. « Extensive e ngagement continued with key landholders along the infrastructure route – community feedback has been received and led to a decision to run the power line underground within an existing small rural-residential area.
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ASX:CHN Chalice Mining Limited 2 Exploration « Initial 16-hole reverse circulation (RC) drilling program completed across several greenfield targets within the Warrego North Copper-Gold Project, NT – all assays are pending. « Extensive c opper-silver-gold system intersected in initial RC drilling at the Deep Blue Prospect within the Goomalling Copper Project, WA – further drilling, soil sampling and targeted IP planned. Corporate « Strong cash and listed investments position of $5 3 million at 30 September 2026, providing balance sheet flexibility in weak equity market conditions. « $5 million contingent payment expected to be received upon the achievement of commercial production at the Nyanzaga Gold Project in Tanzania (owned by Perseus Mining ASX: PRU), where first production is expected in early CY27. « Executive team strengthened and three new directors to join the Chalice Board following the upcoming AGM in November: « Paul De Ponte commenced as the Gonneville Project Director and Tim Langmead commenced as General Manager Corporate Affairs during the quarter. « Highly regarded resources executive and former MMG and Woodside Petroleum Chief Financial Officer Ross Carroll to succeed Derek La Ferla as Non-Executive Chair. « Former senior Rio Tinto executive Gerard Rheinberger to join as a Non -Executive Director, bringing significant major project development experience to the Board. « Dr Soolim Carney, a leading sustainability and HSEC executive with deep knowledge of the Gonneville Project, to also join the Board as a Non-Executive Director. 1. Expl oration and Development Activities 1.1 Gonneville PGM-Nickel-Copper-Cobalt Project, WA (100%-owned) 1.1.1 Strategy and overview Chalice’s strategy for the Gonneville Project is to progress development studies and regulatory approvals as quickly as possible to deliver an optimised, staged development plan that is execution- ready. In parallel, the Company is aiming to secure 60 -70% of the pre -production funding requirement through export credit agencies, sovereign debt or grants, and secure the balance of the funding requirement through byproduct stream(s), offtake-linked finance and/or strategic investment. The Gonneville Project is set to become a large-scale producer of palladium, nickel and copper (co- products) over an open-pit phase of 23 years, with valuable byproducts from cobalt, platinum and gold. The mine is modelled to have annual production of: « 220koz of 3E precious metals (palladium, platinum and gold); plus « 7kt of nickel, 8kt of copper and 0.7kt of cobalt. A Pre -Feasibility Study (PFS) was released on 8 December 2025, including a maiden Ore Reserve Estimate (7.1Moz 3E, 400kt Ni, 260kt Cu and 43kt Co contained), outlining a two-stage, open-pit critical minerals mine development.
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ASX:CHN Chalice Mining Limited 3 Using conservative, bottom-of-the-cycle metals price assumptions 1, the Project is expected to generate A$4.7bn in free cash flow pre-tax over the open-pit phase only, with a rapid payback of 2.7 years. The first 13 years of operations are expected to generate A$300M p.a. in free cash flow (avg) pre-tax. Socio-economic modelling highlights the significant local, state and national benefits from the development of the Project and its operation over 23 years, including: « $24.1 billion contribution to Western Australia’s Gross State Product , equivalent to ~$19,000 per WA household. « 419 new direct residential jobs during operations, with an average of 3,761 jobs supported across the State, including both direct and indirect employment. « $7.7 billion in goods and services purchased from more than 1,200 local businesses. Gonneville is forecast to become the lowest-cost PGM mine in the western world, and the lowest cost of any undeveloped project, with an average of US$370/oz 3E all-in sustaining costs over the initial 23- year open-pit phase. The Definitive Feasibility Study (F S) continued during the quarter across several workstreams and is expected to be completed in Q3 CY27. A key long-lead scope of the study is an 8 -week pilot of the full flowsheet, which precedes FS Engineering. Approximately $15M was spent on comprehensive metallurgical testwork, flowsheet development and process trade -off studies during the PFS. Geological, mineralogical and geo-metallurgical knowledge has been a key focus of technical work, given the large-scale, multi-domain and polymetallic nature of the Gonneville orebody. In parallel, the Company is progressing regulatory approvals, with major environmental approvals expected to form the critical path to a Final Investment Decision (FID). The Project requires approvals under the WA Environmental Protection Act 1986 (EP Act ) and the Commonwealth Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act). The EPA Chair determined in April 2024 that the proposal requires a Public Environmental Review level of assessment. The Project was referred to the Commonwealth in March 2024 and determined to be a controlled action in July 2024. Environmental modelling, assessment of potential environmental impacts and planned mitigations continued during the September Quarter. Environmental Review Document (ERD) and Public Environment Report (PER) are on track for submission to the WA and Commonwealth regulators in Q4 CY26. Importantly, the approval scope will consider the full scale and long -term impacts of the Project (up to the Stage 2 throughput rate of 14Mtpa) , allowing scope to adjust the timing and staging of construction according to prevailing macro-economic conditions. Chalice continues to engage with potential offtakers and finance providers following the completion of the PFS. The funding strategy progressed during the quarter, with an active process on byproduct stream(s), offtake-linked finance and strategic investment. Formal offtake negotiations for copper and nickel concentrates have commenced, with the aim of securing foundational customers for a portion of these products in the near term , while maintaining flexibility and optionality. There has been continued s trong inbound interest in copper concentrate offtake , given the exceptionally tight copper market conditions. Sulphur market tightness and diversification away from Indonesian supply have driven new interest in nickel concentrate offtake. 1 Base case long-term commodity price assumptions of Pd: US$1,300/oz, Ni: US$18,750/t, Cu: US$10,500/t, Pt: US$1,300/oz, Au: US$2,900/oz, Co: US$39,000/t, AUD:USD 0.65.
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ASX:CHN Chalice Mining Limited 4 Chalice has received strong interest from established copper-PGM-gold smelters in Australia, Japan, Korea, Europe, Canada and China, as well as strong interest from nickel -cobalt-PGM smelters in Canada, Europe, China and Indonesia. An FID is expected to be made in H1 CY28, subject to the finalisation of all key activities: « Definitive Feasibility Study completed Q3 CY27 « Offtake agreements executed H2 CY27 « Funding secured H1 CY28 « Major environmental approvals H1 CY28 (expected critical path) Following FID , a n 18 -month engineering and construction phase is expected, resulting in first production in early 2030 (Figure 1). Chalice invested ~$4M during the quarter on pre-development activities at Gonneville. Figure 1. Gonneville Project Development Timeline 2. 1.1.2 Definitive Feasibility Study The Definitive Feasibility Study (FS) commenced in early CY26 and will refine the development plan defined during the PFS, optimise project scope, confirm technical and economic viability, and bankability of key project assumptions to support a Final Investment Decision (FID). The study continued during the quarter and is currently focused on the 8 -week continuous, full flowsheet pilot plant , geotechnical drilling/logging, refinements to mine design and off-site infrastructure designs and execution approach . FS Engineering is expected to commence in November with the support of an EPCM partner, with no major changes to the PFS development plan scope, cost or schedule expected. The FS will underpin the Company’s strategy to deliver a robust, bankable development plan that maximises shareholder value, delivers the Project on-time and on-budget and effectively manages execution and financing risk. 2 Study, approvals and development timeline is indicative only and subject to achievement of milestones and duration of regulatory assessment.
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ASX:CHN Chalice Mining Limited 5 Key activities during the quarter included: « Request for Proposals were issued for the full Feasibility Study engineering, integration and delivery, along with project management services – evaluation of proposals is underway. « Flotation and leach testwork with Alkimos treated wastewater was completed, with flotation and leach performance found to be comparable with Perth tap water (used in all previous testwork) and no negative impacts on recovery or concentrate quality. « Construction of the full process flowsheet (Figure 2) pilot plant (lab scale) is largely complete, with commissioning expected in November 2026: « Pilot plant sample assays were received (PQ diamond holes), and five tonnes of composite samples prepared (ground to 38µm) for the pilot plant feed in readiness for commissioning. « Pilot plant feed will be representative of the first three years of plant ore feed. « Continuous sequential Cu -Ni flotation piloting will be completed over ~ 5 days, generating final concentrate specification and samples to share with smelters. « Following this, a 4-week continuous pilot of sulphide flotation tails leach-elution and a 4-week continuous pilot of oxide -sulphide blend leach -elution will be completed , generating final doré specification for precious metal refineries including the Perth Mint. « Results are expected in Q1 CY27. Figure 2. Gonneville Project process flowsheet (simplified). « Simplification and re-design of the PGM -gold-nickel leach elution process was completed and proven in testwork. « Open-pit geotechnical drilling and core logging to inform geotechnical parameters continued, dictating the next optimisation and FS mine design outcomes. « Final FS design of the Tailings Storage Facility (TSF) commenced. « Open-pit mining optimisations, waste rock landform designs and mine plan updates continued with a key focus on meeting the requirements for environmental modelling. « Site water investigations completed , identifying a suitable groundwater source for construction, with modelling indicating no material increase in predicted drawdown beyond that from mine dewatering. « Final FS design of the 132kV monopole transmission line was materially completed, and a new connection application was submitted to Western Power. « Scoping of FS treatment and pumping design at the Alkimos Water Resource Recovery Facility was completed, with a design study now underway. Strategic advisors Odin Partnership (Odin), led by Tony O’Neill, completed a detailed technical review of the PFS. The review endorsed the high quality of the development plan and technical work to date and presented further incremental improvement opportunities such as bulk ore sorting, Stage 1 plant
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ASX:CHN Chalice Mining Limited 6 debottlenecking and Stage 2 scale refinement which are being further investigated. Taken together with the development plan, the technical review augments the strong pathway for Chalice’s development of the Project. In addition, Palaris , the appointed Independent Technical Engineer (ITE) on behalf of project financiers, is providing independent oversight of the pilot plant design and execution activities. Palaris has also commenced a high-level review and gap analysis of study work completed to date which will lead into detailed due diligence of all study work. This review has assessed that the geological model/interpretation and Mineral Resource Estimate (MRE) are sufficient for the FS with no further work required. 1.1.3 Regulatory approvals and community engagement The Project requires approvals under the WA Environmental Protection Act 1986 (EP Act) and the Commonwealth Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act). The EPA Chair determined in April 2024 that the proposal requires a Public Environmental Review level of assessment. The Project was referred to the Commonwealth in March 2024 and determined to be a controlled action in July 2024. These decisions commenced the formal regulatory environmental approvals processes. Since referral , Chalice has completed the PFS , conceptual engineering and design of the off-site infrastructure, additional environmental surveys and modelling, and continued stakeholder engagement. This work has enabled a net reduction in the scale of vegetation clearing compared with the original referred proposal. Chalice has subsequently submitted requests to amend the proposal under both processes: a section 43A request under the State process and an equivalent section 156A request under the Commonwealth process. A decision on these requests is anticipated in Q4 CY26. Chalice will then submit the draft Environmental Review Document to the EPA and Public Environment Report to the Commonwealth. The infrastructure corridors for power and water will be progressed for approval via Miscellaneous Licence(s) under the Mining Act 1978. Applications for these licences as well as the Mining Lease are expected in Q1 CY27. These processes are expected to run in parallel with the major environmental approvals, which govern the expected timeline to targeted FID in H1 CY28. Engagement continued with key stakeholders including the Whadjuk Aboriginal Corporation and landholders near the mine site and along the infrastructure corridor. Community feedback is being incorporated into final designs , with Chalice committing to run the power transmission line underground within an existing, small rural-residential area in the Shire of Chittering. The buried water pipeline will also be co-located with the transmission line as far as practicable. The Chalice Community Investment Program supports sporting, education, community and environmental initiatives in the communities surrounding the Project . Round two of the CY2026 program ran from August to the end of September, inviting applications for direct and in-kind funding to help grassroots community members and organisations deliver low -cost high -impact programs, activities and events. More than $400,000 has been awarded to local initiatives since the program was established in 2020. Chalice was a Silver Sponsor of the Taste of Chittering, a community event celebrating local flavour, local talent and the community. Chalice staff answered questions about the Gonneville Project and spoke with community members about its progress and next steps during the event.
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ASX:CHN Chalice Mining Limited 7 1.1.3.1 Independent expert review Chalice engaged Dr Tom Hatton PhD PSM FTSE to independently review the Company's environmental approvals strategy, risk mitigation measures and indicative timeline for development. Dr Hatton holds no financial interest in Chalice or the Gonneville Project. Dr Hatton has extensive experience in environmental science, regulation and policy. He served with CSIRO for 25 years as a research scientist and executive, with national leadership of its water, marine and energy research, and subsequently chaired the Wes tern Australian Environmental Protection Authority (EPA) from 2015 to 2020. The review provided an independent evaluation of Chalice’s approvals strategy and targeted timeline, including the Company’s objective of reaching a Final Investment Decision (FID) in H1 CY28. The review concluded that Chalice has appropriately identified the key environmental risks and uncertainties likely to be relevant to regulators and the approvals timeline , and has established or planned measures to address them. The review was an endorsement of Chalice’s environmental approvals strategy, schedule and execution to date and supported Gonneville’s approval pathway and targeted FID in H1 CY28. 1.1.4 Government engagement Chalice engages with the local, state and federal governments to ensure that the Gonneville Project receives appropriate levels of government support across key areas, including regulatory approvals, infrastructure support, international engagement and sovereign finance opportunities. Chalice receives ongoing support from the Western Australian Department of Energy and Economic Diversification (DEED) as a Strategic Project and the Commonwealth Investor Front Door (IFD) as a Major Project to help achieve these objectives. The level of support given to the Project recognises the scale and significance of the Project to Australia’s and Western Australia’s critical minerals ambitions. Key activities during the quarter included: « Tim Langmead commenced as GM Corporate Affairs , holding introductory meetings with key stakeholders. « In August, Chalice hosted officials from the Department of Water and Environmental Regulation (DWER) on a tour of the Gonneville site. « Several briefings were provided to local governments on the status of key studies and approvals processes. « Ongoing engagement with the Water Corporation of Western Australia , including: « Commencement of the t echnical evaluation for the suitability of offtake from the Alkimos Water Resource Recovery Facility (water currently discharged to ocean) to Gonneville. « Discussions on a long-term water offtake agreement, building on the Letter of Intent executed in 2025.
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ASX:CHN Chalice Mining Limited 8 Figure 3. Chalice and Department of Water and Environmental Regulation (DWER) officials at the Gonneville site. Left to right Jocelyn Zimmerman (GM Environment and Community , Chalice ), Alistair Jones (Director General, DWER), Alex Dorsch (Managing Director and CEO, Chalice), Belinda Walker (Deputy Director General, Strategy and Performance DWER) and Sasha Pendal (Deputy Director General Approvals DWER) 1.1.5 Project finance Chalice continued to engage with a number of potential finance partners from both public and private markets. Several royalty and streaming companies, potential offtakers and credit funds are in active discussions regarding a staged funding approach to support Gonneville’s development. The Company is aiming to secure 60 -70% of the pre-production funding requirement through export credit agencies or sovereign debt, and secure the balance of the funding requirement through byproduct stream(s), offtake-linked finance, grants and/or strategic investment. Funding discussions are currently focused on financing via byproduct stream (s), offtake-linked finance, and/or strategic investment. Senior debt providers, including sovereign credit agencies, will be engaged formally closer to completion of the FS. Governments, both Australian and international, have indicated a strong appetite to support funding of critical minerals projects like Gonneville in western countries. Palladium, platinum, nickel and cobalt are all considered ‘critical minerals’ by the Australian Government, whil e copper is considered a ‘strategic mineral’. Funding is expected to be sourced from a range of providers including: « Western Australian State Government-sponsored initiatives « Australian Federal Government-sponsored initiatives / credit agencies « International government-sponsored initiatives / credit agencies
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ASX:CHN Chalice Mining Limited 9 « Offtake partners (copper and nickel smelters and/or precious metal refineries) « Royalty and streaming companies « Specialist finance providers « Commercial banks Full project financing is expected to be secured following the completion of the FS, which is targeted for Q3 CY27. 1.2 Exploration Projects – WA, NT, SA and New Zealand Chalice holds exploration tenure spanning more than 8,300km² across Western Australia, South Australia, the Northern Territory and New Zealand (Figure 4). Figure 4. Chalice portfolio of exploration projects in WA, SA , NT and New Zealand . The Company continues to prioritise frontier and under-explored regions while applying a disciplined, data-driven approach to capital allocation, target progression and tenure management. Chalice has an exceptional track record of major discovery, whilst also sustainably conducting exploration with capital discipline, recouping capital where possible to avoid excessive dilution and resisting ‘over drilling’ by progressing only Tier-1 scale targets to drilling. During the quarter, Chalice invested approximate ly $1.5 million on exploration activities. Exploration was focused on advancing a number of high-priority copper-gold targets toward drilling, completing key field programs, and continuing portfolio rationalisation. 1.2.1 Warrego North Copper-Gold Project, NT (51-100% owned) The Warrego North Project is located approximately 20km north -west of the historical high -grade Warrego copper-gold mine within the Tennant Creek Mineral Field (130kt Cu at 1.9% Cu and 1.4Moz Au at 6.6g/t historical production) (Figure 5).
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ASX:CHN Chalice Mining Limited 10 Figure 5. Warrego North Project targets and historical drilling over regional magnetics (TMI). The Tennant Creek Mineral Field is one of Australia’s highest-grade copper-gold districts, with deposits such as Warrego, Peko and Juno historically discovered by drill -testing magnetic and gravity anomalies beneath shallow cover. The owner of the Warrego mine, Pan African Resources (JSE: PAF), is currently completing a Feasibility Study on a restart of the mine, targeting >100koz Au and >10kt Cu p.a. There are several coincident gravity–magnetic anomalies north and west of Warrego on Chalice’s tenure, which are untested and warrant exploration. Chalice first defined targets on the Project in 2017, however exploration had been prevented due to access and permitting constraints. Following the resolution of land access and heritage requirements with the Central Land Council and Traditional Owners, the Company completed a reconnaissance RC program of 16 holes for 3,110m in September-October 2026. The program tested targets generated from reprocessed airborne magnetic data and ground gravity, as well as extensions of historical copper intersections at the Chook prospect . All assays are currently pending.
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ASX:CHN Chalice Mining Limited 11 Drilling by Chalice in 2017 at the Parakeet Prospect demonstrated the fertile nature of ironstones in the area, with a best intersection of 8m @ 1.7% Cu and 0.4g/t Au. Historical drilling at the Chook Prospect included a best intersection of 17m @ 1.0% Cu including 4m @ 2.1% Cu. 1.2.2 Goomalling Copper Project, WA (earn-in to 70% + 100% owned) The Goomalling Copper Project is located immediately south of the Caravel Copper Project (owned by Caravel Minerals , ASX: CVV) , which has a ~3Mt contained Cu Resource over ~20km of strike . Chalice controls ~30km of the strike length trending south which is effectively completely undrilled. Chalice has confirmed similar geology and mineralisation to Caravel within its tenure. Higher grades at Caravel are associated with folded structural positions, which Chalice is now targeting with soil sampling, IP geophysical surveys and drilling. The Deep Blue Cu -Mo-Ag-REE target is located approximately 10km north of Goomalling in the WA Wheatbelt, within the Northam JV (Chalice earning 70%). Deep Blue was first defined by Chalice in early 2026 following systematic soil and rock sampling, which identified a ~2.5km long coherent Cu -Mo-Ag soil anomaly coincident with strong magnetic and gravity features. Reconnaissance on an isolated area of outc rop within the soil anomaly uncovered several rock chips with highly anomalous magnet and heavy rare earth mineralisation (refer to ASX Announcement on 4 June 2026). The reconnaissance RC program completed during the quarter comprised 16 holes for a total of 1,874m across three drill lines approximately 600m apart, and is considered a first -pass test of the target. RC drilling intersected several broad low -grade zones of copper -silver-gold mineralisation across 1.2km of strike, which confirms the presence of a large-scale mineral system that remains open along strike (refer to ASX Announcement on 8 September 2026). Deep Blue is one of several coincident geochemical and geophysical targets identified within Chalice’s extensive landholding across a new ~30km strike length copper belt. Results confirm that copper -silver-gold mineralisation is present across multiple lines, at a consistent style and grade tenor, indicating that the mineralised system has genuine strike extent (Figure 7). Key intersections include: « 21m @ 0.18% Cu, 0.67g/t Ag and 0.03g/t Au from 50m (DBRC004), including: « 4m @ 0.41% Cu, 1.20g/t Ag and 0.07g/t Au from 50m; and « 2m @ 0.47% Cu, 2.38g/t Ag and 0.04g/t Au from 67m « 9m @ 0.21% Cu, 0.86g/t Ag and 0.05g/t Au from 180m (DBRC005), including: « 1m @ 0.27% Cu, 1.56g/t Ag and 0.05g/t Au from 180m
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ASX:CHN Chalice Mining Limited 12 Figure 6. Goomalling Copper Project, prospects, targets and Caravel Copper Project deposits over regional magnetics. The source of the previously reported high-grade REE rock chips (refer to ASX Announcement 4 June 2026) has not yet been identified through this first-pass drilling. Ultrafine soil REE results indicate the magnet rare earth anomalism may be related to a northeast - trending, crustal -scale fault that offsets the Deep Blue system. The REE -bearing source is therefore interpreted to sit along or adjacent to this structure ra ther than within the drilled copper zone, and the structure is now being used to refine targeting.
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ASX:CHN Chalice Mining Limited 13 Figure 7. Goomalling Project drilling to date over 1VD magnetics. Next steps include an Induced Polarisation (IP) survey to vector towards higher -grade copper mineralisation, and an extension and infill of the soil sampling grid, with analysis for the full REE suite, across the untested portions of the corridor. This wor k is planned to commence in Q4 CY26. Further drilling will be planned once these results are received.
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ASX:CHN Chalice Mining Limited 14 1.2.3 Callabonna Copper-Gold Project, SA (earn-in to 51-65%) The Callabonna Project is located within an under-explored Iron-Oxide Copper Gold (IOCG) corridor in the Curnamona Province of South Australia. Chalice has an agreement to earn up to 65% in EL 6204 and 51% in EL 6318 through staged expenditure of $6M on ea ch tenement over four years, with a minimum commitment of completing three diamond drill holes before withdrawing. Chalice has identified favourable geology within a structurally complex setting, with multiple large - scale (2 -5km) magnetic and gravity anomalies consistent with IOCG systems. Historical drilling indicates the presence of IOCG-style alteration, interpreted to be distal to the main system, with key gravity targets remaining untested at depths of approximately 400-750m. Figure 8. Callabonna residual gravity (LHS) and regional magnetics (TMI, RHS). During the quarter, drill collar positions were finalised for priority targets. Field reconnaissance commenced ahead of heritage clearance surveys planned for Q4 CY26. Given recent rainfall events, access is not expected to be possible for drilling until late Q1 CY27. 1.2.4 Voyager Gold Project, WA (100% owned) The Voyager Gold Project is a large-scale, early-stage gold project located along the eastern margin of the Corrigin Tectonic Zone, where it meets the Southern Cross Domain of the Yilgarn Craton. The project comprises two regions: Yandina in the north, along the Yandina Shear Zone and the historical Tampia gold deposit, and Katanning in the south, along the same structural corridor as the Katanning Gold Project (Figure 9).
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ASX:CHN Chalice Mining Limited 15 Figure 9. Voyager Gold Project tenure over simplified regional bedrock geology.
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ASX:CHN Chalice Mining Limited 16 During the quarter, work focused on desktop targeting and data integration. Assay results from the soil and auger sampling programs were reviewed and combined with geological and geophysical datasets to highlight several areas of gold anomalism along these structural corridors. A staged follow -up program has been designed across the project, with field work planned to commence once the cropping season is completed in Q4 CY26 or in early CY27, subject to land access. The planned work includes: « infill and extensional soil sampling to refine and extend anomalism along the Yandina Shear Zone at Muntadgin, and across the Kondinin (including Vanguard) and Lake Grace tenure ; « first-pass aircore drilling at Sputnik, testing the strike extent of a soil anomaly along a prominent north-south structure; and « ultrafine soil sampling at Gnowangerup and Borden, along the southern continuation of the Katanning shear. 1.2.5 Otago Gold Project, New Zealand (100% owned) The Otago Project represents Chalice’s first exploration position in New Zealand, established following a systematic generative program aimed at identifying new district -scale opportunities aligned with the Company’s strategy. The Otago Orogenic Gold Province is one of the most significant orogenic gold belts in the Southern Hemisphere, with a total gold endowment exceeding 20 million ounces. Gold mineralisation is hosted within the Haast Schist, a regionally extensive metamorph ic terrane directly analogous to the Bendigo-Ballarat belt in Victoria. Despite the province’s endowment , anchored by the large -scale Macraes mine , large parts of the Otago Province remain underexplored using modern techniques, with recent discoveries along the Rise and Shine Shear Zone demonstrating that new large-scale systems are still being found. Chalice holds two Prospecting Permits, Gibsons and Teviot, covering priority structural corridors identified through its generative program ( Figure 10). The permits lie near Roxburgh, approximately 65km south of the Rise and Shine deposit and 85km west of the Macraes gold mine, and interpreted structural corridors extend through both permits. Rock chip assay results received during the quarter returned encouraging pathfinder anomalism, consistent with a primary sulphide source at depth. A soil sampling program is planned for Q1 CY27.
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ASX:CHN Chalice Mining Limited 17 Figure 10. Otago permits over regional magnetics (TMI -RTP), showing interpreted structural corridors.
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ASX:CHN Chalice Mining Limited 18 1.2.6 Barrabarra Gold-Copper Project, WA (100% owned + earn-in to 80-90%) No field activity was undertaken during the quarter. A review of exploration results to date has concluded that the Recherche East trend warrants further work. Chalice entered into an earn -in and joint venture agreement with Yarri Resources Pty Ltd, whereby Chalice may earn 90% JV interest in E70/6726. Previous exploration in the area has highlighted highly anomalous gold -in-soils with limited drill testing. An i nitial drill program is planned subject to land access. 1.2.7 Kings Nickel-Copper-PGM-Gold Project, WA (100% owned + earn-in to 90%) Limited field activity was undertaken during the quarter due to ongoing land access constraints, and as such, tenure rationalisation continued. The Hardtack gold target remains a priority for drilling, with heritage and land access discussions ongoing. 1.2.8 Illogwa Copper Project, NT (100% owned) No activity was undertaken during the quarter. 1.2.9 Bangemall Nickel-Copper-PGM Project, WA (100% owned) Field trip planning and preparation were completed during the quarter, with target reconnaissance areas identified. A WA Government Exploration Incentive Scheme ( EIS) geophysics co-funding grant of up to $300,000 was also successfully secured. 1.3 Non-Operated Exploration Projects 1.3.1 Nulla South Gold Project, WA (20% JV with Forrestania Resources) No exploration activity was undertaken during the September Quarter. 2. Corporate 2.1 Leadership appointments Highly regarded mining executive, Mr Paul De Ponte, commenced as the Gonneville Project Director in July 2026 . Mr De Ponte is responsible for leading delivery of the Gonneville Project through the ongoing Definitive Feasibility Study, final engineering, project execution planning and operational readiness ahead of a planned FID in H1 CY28. Highly regarded government relations and stakeholder engagement executive Mr Tim Langmead commenced in the newly-created role of General Manager Corporate Affairs in September 2026. He will lead Chalice’s government relations, media and communications functions. Subsequent to quarter-end, Chalice announced that Mr Ross Carroll will join the Board as independent Non -Executive Chair, Mr Gerard Rheinberger as an independent Non -Executive Director, and Dr Soolim Carney as a Non -Executive Director, each effective from the conclusion of the Company’s Annual General Meeting (AGM) on 20 November 2026 , subject to shareholder approval. Mr Carroll will succeed Derek La Ferla, who will retire as Chair and from the Board at the conclusion of the AGM. The appointments represent the culmination of an extensive international Board renewal
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ASX:CHN Chalice Mining Limited 19 process undertaken to ensure that Chalice has the appropriate blend of skills and experience at Board level to support the Gonneville Project through the development and construction phase . 2.2 Cash and Investments Chalice finished the quarter with a strong cash balance of ~$44.7M, plus ~$8.2M in listed investments. Given weak equity market conditions, Chalice is prioritising Gonneville regulatory approvals , which govern the critical path to FID, as well as pilot plant operation, which governs the critical path to FS completion. Net cash movement for the quarter was ~$6.7M, comprising ~$6.7M in exploration and development costs, and ~$0.6M in administration and staff costs , which was partially offset by ~$0.6M in interest received during the quarter. A $5 million contingent payment is expected to be received upon the achievement of commercial production at the Nyanzaga Gold Project in Tanzania (owned by Perseus Mining ASX: PRU ), where first production is expected in early CY27. 2.3 Payments to related parties of the entity and their associates Payments of $246,000 reported in Item 6.1 of the attached Appendix 5B relate to the remuneration paid to the Managing Director & CEO, as well as fees paid to Non -Executive Directors (including superannuation). 2.4 Share Capital On 6 July 2026, the Board determined that the vesting conditions attached to the F Y2023-24 Long Term Incentive (L TI) performance right s had not been satisfied over the three -year measurement period ended 30 June 2026. As a result, 764,784 performance rights were forfeited. On 7 July 2026, 56.25% of the FY2025-26 Short Term Incentive (STI) performance rights that were issued to Key Management Personnel (KMP) and employees in August 2025 vested, representing 662,808 performance rights. The remaining 515,535 unvested performance rights were forfeited. The Company issued 662,808 fully paid ordinary shares to CPU Share Plans Pty Limited as trustee of the Chalice Mining Employee Share Trust for allocation to participants upon exercising their vested performance rights. During the quarter, 355,675 of these performance rights were exercised into an equivalent number of fully paid ordinary shares. During the quarter, the Company issued 3,206,852 performance rights and 4,577,229 unlisted options to KMP and employees under the terms of the Employee Securities Incentive Plan. The options vest over two years, have an exercise price of $1.78 each and expire on 23 July 2029. In addition, the Board resolved to issue 523,417 performance rights and 70 3,300 unlisted options to the Managing Director and CEO, Alex Dorsch, on the same terms and condition s, subject to shareholder approval at the Company’s 2026 Annual General Meeting in November. During the quarter, 42,464 FY2025 -26 performance rights (measurement date 30 June 2028) and 114,023 unlisted options (exercise price $2.60, expiring 26 August 2028) were forfeited by employees on cessation of employment. A further 850 vested FY2022-23 performance rights were exercised into an equivalent number of fully paid ordinary shares during the quarter.
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ASX:CHN Chalice Mining Limited 20 The following table provides a summary of securities on issue as at 30 September 2026: Description No. Ordinary fully paid shares 390,162,539 FY2022-23 Performance Rights - vested 1,510 FY2024-25 Performance Rights, measurement date 30 June 2027 3,152,041 FY2025-26 Performance Rights - vested 307,133 FY2025-26 Performance Rights, measurement date 30 June 2028 1,174,504 FY2026-27 Performance Rights, measurement date 30 June 2027 1,465,593 FY2026-27 Performance Rights, measurement date 30 June 2029 1,741,259 Unlisted Options - exercise price of $2.05, expiring 28 October 2027 600,000 Unlisted Options - exercise price of $2.96, expiring 5 November 2028 400,000 Unlisted Options - exercise price of $1.72, expiring 13 May 2028 250,000 Unlisted Options – exercise price of $2.13, expiring 7 April 2029 1,500,000 Unlisted Options - exercise price of $2.60, expiring 26 August 2028 4,371,247 Unlisted Options - exercise price of $1.78, expiring 23 July 2029 4,577,229 FY2022-23 Retention Rights - vested 101,076 2.5 Tenement holdings In accordance with ASX Listing Rule 5.3, please refer to Appendix A for a listing of all tenement holdings. Authorised for release by the Board of Directors. For further information, please visit www.chalicemining.com or contact: Investor Enquiries Ben Goldbloom GM Corporate Development Chalice Mining Limited +61 8 9322 3960 info@chalicemining.com Media Enquiries Nicholas Read Principal and Managing Director Read Corporate Investor Relations +61 8 9388 1474 info@readcorporate.com.au Follow our communications LinkedIn: chalice-mining X: @chalicemining Competent Person Statement The Mineral Resource estimates in this Report were first reported in accordance with ASX Listing Rule 5.8 in the ASX announcement titled “Gonneville Resource re -modelled to support selective mining” dated 23 April 2024. The Ore Reserve estimates in this Report were first reported in accordance with ASX Listing Rule 5. 9 in the ASX announcement titled “Gonneville Palladium-Nickel-Copper Project PFS” dated 8 December 2025. The production targets and forecast financial information derived from production targets in this Report were first reported in accordance with ASX Listing Rules 5.16 and 5.17 in the ASX announcement titled “Gonneville Palladium-Nickel-Copper Project PFS” dated 8 December 2025.
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ASX:CHN Chalice Mining Limited 21 The information in this release that relates to previously reported exploration results is extracted from the following ASX announcements: « “New wide high-grade zones in ~900m step-out drill hole”, 31 July 2023. « “High-grade copper-PGE zones extended at Gonneville”, 30 November 2023. « “Gonneville Resource Remodelled to Support Selective Mining”, 23 April 2024. « “Gold-copper Exploration Strategy for the West Yilgarn”, 3 September 2024. « “Major metallurgical breakthrough at Gonneville”, 17 February 2025. « “Further process flowsheet improvements at Gonneville”, 6 May 2025. « “Exceptional copper-rare earth target defined at Deep Blue”, 4 June 2026. « “Copper-silver-gold system intersected at Deep Blue”, 8 September 2026. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcements and, in the case of the Mineral Resource and Ore Reserve estimates, that all material assumptions and technical parameters underpinning the estimates in the previous announcement continue to apply and have not materially changed. The Company also confirms that all the material assumptions underpinning the production targets and the forecast financial information derived from the production targets in the previous announcement continue to apply and have not materially changed. Forward Looking Statements This Report includes forward looking statements that have been based on an assessment of present economic and operating conditions, and assumptions regarding future events and actions that, as at the date of this Report, are considered reasonable by the Co mpany. Such forward -looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and its Directors and managemen t. The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Company has no intention to update or revise forward -looking statements, except where required by law. Appendix A Portfolio and Tenement Holdings The following information is provided in accordance with ASX Listing Rule 5.3 for the quarter ended 30 September 2026. Table 1. Listing of tenements held . Location Project Tenement No. Registered Holder Nature of interest Western Australia Gonneville E70/5118 to E70/5119 CGM (WA) Pty Ltd 100% E70/5353 CGM (WA) Pty Ltd 100% Kings E70/5350 CGM (West Yilgarn) Pty Ltd 100% E70/5351 CGM (Julimar) Pty Ltd 100% E70/5360 to E70/5361 CGM (West Yilgarn) Pty Ltd 100% E70/5363 to E70/5364 CGM (West Yilgarn) Pty Ltd 100% E70/5865 CGM (West Yilgarn) Pty Ltd 100% E70/6767 CGM (West Yilgarn) Pty Ltd 100%
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ASX:CHN Chalice Mining Limited 22 Location Project Tenement No. Registered Holder Nature of interest E70/5151 Northam Resources Limited 0% - Earn-in agreement, right to earn up to a 75% JV interest E70/5009 to E70/5010 Denise Elaine Watts-Butler 0% - Earn-in agreement, right to earn up to a 90% JV interest Goomalling E70/4692-I Northam Resources Limited 0% - Earn in agreement, right to earn up to a 70% JV interest. E70/5150 Northam Resources Limited E70/5153 Northam Resources Limited E70/6644 CGM (West Yilgarn) Pty Ltd 100% E70/6809 CGM (West Yilgarn) Pty Ltd 100% E70/6813 CGM (West Yilgarn) Pty Ltd 100% E70/6828 to E70/6829 CGM (West Yilgarn) Pty Ltd 100% Barrabarra E70/5263 to E70/5264 CGM (West Yilgarn) Pty Ltd 100% E70/5355 to E70/5356 CGM (West Yilgarn) Pty Ltd 100% E70/5357 CGM (West Yilgarn) Pty Ltd 100% E70/6761 to E70/6763 CGM (West Yilgarn) Pty Ltd 100% E70/5535 CGM (West Yilgarn) Pty Ltd 100% E70/5551 CGM (West Yilgarn) Pty Ltd 100% E70/5560 Koojan Exploration Pty Ltd 0% - Earn in agreement, right to earn up to an 80% JV interest E70/5624 CGM (West Yilgarn) Pty Ltd 100% E70/5666 to E70/5667 CGM (West Yilgarn) Pty Ltd 100% E70/6535 CGM (West Yilgarn) Pty Ltd 100% E59/2549 CGM (West Yilgarn) Pty Ltd 100% E70/6726 Yarri Resources Pty Ltd 0% - Earn-in agreement, right to earn up to a 90% JV interest E70/6681 CGM (West Yilgarn) Pty Ltd 100% E70/6800 CGM (West Yilgarn) Pty Ltd 100% Mt Bannerman E80/6192 to E80/6193 Nebula Resources Pty Ltd 100% Voyager E70/6719 to E70/6723 CGM (West Yilgarn) Pty Ltd 100% E70/6740 to E70/6742 CGM (West Yilgarn) Pty Ltd 100% Bangemall E52/4435 Nebula Resources Pty Ltd 100% E52/4437 Nebula Resources Pty Ltd 100% Nulla South E77/2353 to E77/2354 CGM (WA) Pty Ltd 20% - JV with Forrestania Resources Limited Northern Territory Warrego North EL23764 CGM (WA) Pty Ltd (51%) & Meteoric Resources NL (49%) 51% JV interest EL31608 to EL31610 CGM (WA) Pty Ltd 100% EL32272 CGM (WA) Pty Ltd 100%
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ASX:CHN Chalice Mining Limited 23 Location Project Tenement No. Registered Holder Nature of interest EL32274 CGM (WA) Pty Ltd 100% Illogwa EL34189 Nebula Resources Pty Ltd 100% EL34190 Nebula Resources Pty Ltd 100% South Australia Callabonna JV EL6318 Red Metal Limited (51%) and Variscan Mines Ltd (49%) 0% - Earn-in agreement, right to earn up to a 51% JV interest EL6204 Red Metal Limited 0% - Earn-in agreement, right to earn up to a 65% JV interest New Zealand Otago MPP 61460 CGM (NZ) Pty Ltd 100% MPP 61462 CGM (NZ) Pty Ltd 100% Table 2. Listing of tenements acquired (directly or beneficially) during the quarter. Location Project Tenement No. Registered Holder Interest at end of quarter Western Australia Goomalling E70/6813 CGM (West Yilgarn) Pty Ltd 100% E70/6828 to E70/6829 CGM (West Yilgarn) Pty Ltd 100% Barrabarra E70/6726 Yarri Resources Pty Ltd 0% - Earn-in agreement, right to earn up to a 90% JV interest Mt Bannerman E80/6192 to E80/6193 Nebula Resources Pty Ltd 100% Table 3. Tenements relinquished, reduced or lapsed (directly or beneficially) during the quarter Location Project Tenement No. Registered Holder Interest at end of quarter Western Australia Kings E70/6514 CGM (West Yilgarn) Pty Ltd 0% E70/6689 CGM (West Yilgarn) Pty Ltd 0% Barrabarra E70/5695 CGM (West Yilgarn) Pty Ltd 0% Southwest E70/5685 CGM (West Yilgarn) Pty Ltd 0% Voyager E70/6718 CGM (West Yilgarn) Pty Ltd 0% E70/6724 CGM (West Yilgarn) Pty Ltd 0% E70/6743 CGM (West Yilgarn) Pty Ltd 0%
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ASX:CHN Chalice Mining Limited 24 Appendix B Mineral Resource Statement Table 4. Gonneville Mineral Resource Estimate (MRE) – 23 April 2024. Classification* Mass Grade Contained Metal Mt 3E (g/t) Ni (%) Cu (%) Co (%) 3E (Moz) Ni (kt) Cu (kt) Co (kt) Measured 2.9 1.20 0.21 0.17 0.018 0.12 6.1 4.8 0.52 Indicated 400 0.79 0.15 0.087 0.015 10 610 370 65 Inferred 250 0.80 0.15 0.076 0.014 6.4 370 200 37 Total 660 0.79 0.15 0.083 0.015 17 960 540 96 * Within pit constrained cut-off of A$25/t NSR and underground MSO cut-off of A$110/t NSR (refer to ASX Announcement on 23 April 2024 for details of cut-off approach and assumptions). Note some numerical differences may occur due to rounding to 2 significant figures. Appendix C Ore Reserve Statement Table 5. Gonneville Ore Reserve Estimate (Reserve) – 8 December 2025 Classification Mass Grade Contained Metal Mt 3E (g/t) Ni (%) Cu (%) Co (%) 3E (Moz) Ni (kt) Cu (kt) Co (kt) Proved 2.5 1.40 0.22 0.18 0.018 0.11 5.4 4.4 0.45 Probable 260 0.85 0.16 0.098 0.017 7.1 400 250 43 Total 260 0.86 0.16 0.098 0.017 7.1 400 260 43 Ore Reserves are reported at reserve prices of Pd: US$1,050/oz, Pt: US$1,000/oz, Au: US$2,200/oz, Ni: US$16,500/t, Cu: US$9,000/t, Co: US$30,000/t, AUD/USD: 0.65. Note some numerical differences may occur due to rounding to two significant figures. The Reserve has been prepared by a Competent Person and reported in accordance with the requirements of the JORC Code (2012).
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ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Chalice Mining Limited ABN Quarter ended (“current quarter”) 47 116 648 956 30 September 2026 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 66 66 1.2 Payments for (6,745) (6,745) (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (357) (357) (e) administration and corporate costs (213) (213) 1.3 Dividends received (see note 3) - - 1.4 Interest received 608 608 1.5 Interest and other costs of finance paid (39) (39) 1.6 Income taxes (paid)/received - - 1.7 Government grants and R&D tax incentives 101 101 1.8 Other (provide details if material) - - 1.9 Net cash used in operating activities (6,579) (6,579) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (79) (79) (d) exploration & evaluation - - (e) investments - - (f) other non-current assets (25) (25)
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment 13 13 (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash used in investing activities (91) (91) 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities (6) (6) 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other - Payment of office lease liabilities (57) (57) 3.10 Net cash used in financing activities (63) (63) 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 51,439 51,439 4.2 Net cash used in operating activities (item 1.9 above) (6,579) (6,579) 4.3 Net cash used in investing activities (item 2.6 above) (91) (91) 4.4 Net cash used in financing activities (item 3.10 above) (63) (63)
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 44,706 44,706 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 246 1,520 5.2 Call deposits 44,460 49,919 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 44,706 51,439 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 246 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash used in operating activities (item 1.9) (6,579) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - 8.3 Total relevant outgoings (item 8.1 + item 8.2) (6,579) 8.4 Cash and cash equivalents at quarter end (item 4.6) 44,706 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 44,706 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 6.80 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Not applicable 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Not applicable 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Not applicable Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: ............27 October 2026................................................................ Authorised by: ....................By the Board............................................................... (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, t he definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.