Earnings release
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 ASX Announcement 20 January 2026 DECEMBER 2025 quarterly Report _________________________________________ Barlee Project – Gold • Numerous large footprint and high amplitude gold anomalies have been identified at the Barlee Project over areas of historic anomalism further reinforcing the prospectivity of the project. • Six highly rated prospects are: ➢ Astro Prospect - 1,800m (before going undercover) x 800m anomaly with maximum gold of 204ppb. ➢ Scooby Prospect - 900m x 450m anomaly with maximum gold of 57ppb. ➢ Tiger Prospect - 1,200m x 700m anomaly with maximum gold of 230ppb. ➢ Gromit Prospect - 1,000m x 450m anomaly, with a maximum gold of 235ppb (highest gold value of the program). ➢ Odie Prospect - 350m x 250m anomaly with a maximum gold of 37ppb. ➢ Lost Bolt Prospect - 1,700m x 1,000m anomaly with maximum gold of 211ppb. • A total of 1,500 samples collected and assayed utilising the Ultrafine (UFF) method. • Results increase the Company’s confidence in the prospectivity of this area. Boodanoo Project – Gold • Infill soil sampling has confirmed and further defined the previously identified geochemical anomaly at the Boodanoo Project. • This additional sampling has resulted in the definition of two sub parallel, NNE striking anomalies with a peak value of 59.6ppb Au. • The +10ppb Au contour of these anomalies are in excess of 650m in strike with widths of up to 190m and are located to the immediate west and east of a small hill of outcropping gabbro. • The southern extremity of the soil anomaly is affected by transported cover which can inhibit the effectiveness of the sampling method. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 • No previous drilling has occurred in the area of these anomalies. Killarney Project – Gold • Assays received from the second RC drill program at Killarney. • Significant intercepts include: ➢ 4m @ 1.63g/t Au including 2m @ 2.99g/t Au, from 55m. ➢ 3m @ 1.18g/t Au including 1m @ 3.00g/t Au, from 76m. ➢ 2m @ 1.32g/t Au from 72m. ➢ 8m @ 0.68g/t Au including 2m @ 2.02g/t Au, from 36m. ➢ 8m @ 0.84g/t Au including 1m @ 5.7g/t Au, from 68m. • Assay results confirm the presence of gold within the targeted structural corridor. • Mineralisation is associated with zones of heavily weathered ferruginous saprolite and quartz veining, further to the east the mineralised structure was intersected in fresh rock. Corporate • Cash and shareholdings at 31 December 2025 of $11.3M comprised of cash of $9.2M and shareholdings of $2.1M. _________________________________________________________________________ Barlee Project (Gold) During the quarter Duketon Mining Limited (Company or DKM received assay results from the inaugural soil geochemistry program at the Barlee Project (see ASX announcement 8 October 2025). A 1,500 sample, ultra fine fraction (UFF) soil program over a number of areas of the Barlee Project was completed during the quarter. A number of strong gold anomalies have been identified within these areas (Figures 1 to 5). The Astro Prospect is a 1,800m x 800m anomaly with a maximum gold of 204ppb. This anomaly may continue to the north undercover as evidenced by several anomalous samples (Figure 2 and Figure 3). The Scooby Prospect is 500m to the south-east of Astro and gold anomalism covers an area of 900m x 450m with a maximum gold of 57ppb (Figure 2 and Figure 3). The gap between the Astro and Scooby anomalies has not been sampled and will be infilled in the future. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 In the southern area, the Tiger Prospect gold anomaly covers an area of 1,200m x 700m, maximum gold is 230ppb (Figure 2 and Figure 4). Gromit Prospect has the highest gold value of the UFF program of 234ppb. The gold anomaly covers an area of 1,000m x 450m (Figure 2 and Figure 4). These four anomalies exist over outcropping Diemals Formation sediments, an interpreted late Archean Basin. There has been no drilling over any of these prospects. The Odie Prospect is a 350m x 250m anomaly at the intersection of the eastern edge of the basin and a NNE structure proximal to a Banded Iron Formation with a maximum gold of 37.4ppb. Historic drilling has intersected anomalous gold including 16m @ 0.274g/t Au from surface (LBAC0123), 4m @ 0.187g/t Au from 20m and 4m @ 0.1g/t Au from 28m (LBAC0120) (Figure 2 and Figure 5). At the Lost Bolt Prospect, a large gold anomaly, approximately 1,700m x 1000m, has been identified with a maximum gold of 211ppb Au. These anomalous UFF results lie outside of previously drilled areas. Historic drilling at the prospect has intersected wide zones of mineralisation including 4m @ 1.89g/t Au, 12m @ 0.4g/t Au and 4m @ 0.98g/t Au. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 1: Barlee Project For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 2: DKM UFF coverage and Prospects over GSWA interpreted bedrock geology, Barlee Project For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 3: UFF soils and gold contours over GSWA interpreted bedrock geology, Astro & Scooby Prospects, E77/3160 For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 4: UFF soils and gold contours over GSWA interpreted bedrock geology, Tiger & Gromit Prospects, E77/3160 For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 5: UFF soils, gold contours and historic drilling over GSWA interpreted bedrock geology, Lost Bolt and Odie Prospects, E77/2717 For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Boodanoo Project (Gold) During the quarter the Company received results from a 150 sample, soil geochemistry program, infilling the historic regolith gold anomaly (see ASX announcement 26 November 2025). The results have confirmed and further defined two parallel gold anomalies, 650m long, up to 190m wide with a peak value of 59.6ppb Au. Sampling was completed over the central portion of the tenement, reducing spacing to 100m x 25m. The new results validate the historic dataset and provide improved definition and continuity of the anomalies, enabling a targeted approach to follow-up drilling. The anomalies are located along the western and eastern flank of a small hill comprising gabbro of the Meeline Suite, part of the Windimurra Igneous Complex (Figure 6 and Figure 7). DKM notes that regolith conditions to the south of the anomalies include a broad alluvial channel, which has reduced the effectiveness of surface geochemical sampling. Sub-surface techniques, such as auger drilling, will be required to adequately test this zone. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 6: Boodanoo Project soil sample results and interpreted gold anomaly For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 7: GSWA Regional Interpreted Geology with tenement E 59/2881 Killarney Project (Gold) During the quarter the Company completed a second reverse circulation drill campaign at the Killarney Project (see ASX announcement 25 November 2025). Significant intercepts include: ➢ 4m @ 1.63g/t Au including 2m @ 2.99g/t Au, from 55m in 25KRC020 ➢ 3m @ 1.18g/t Au including 1m @ 3.00g/t Au, from 76m in 25KRC031 ➢ 2m @ 1.32g/t Au from 72m in 25KRC024 ➢ 8m @ 0.68g/t Au including 2m @ 2.02g/t Au, from 36m in 25KRC019 ➢ 8m @ 0.84g/t Au from 68m including 1m @ 5.7g/t Au, from 68m in 25KRC021 For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Eighteen (18) RC drillholes were completed for 1,560 metres. Drilling to the immediate east of the historic shallow Killarney Pit intersected a strongly weathered zone with variable quartz veining. Further to the east, drillholes intersected the mineralised structure in fresh rock. Recent assay results confirm the presence of gold within the targeted structural corridor. While grades encountered in this program were generally lower than those returned from the previous drill program, the Company has identified grade variability as a characteristic of this mineralised system. Natural variations in gold distribution are common within structurally controlled and/or nuggety gold systems, and continued intersections of gold remain a positive indicator of the robustness of the mineralised system. The Company is encouraged that all holes targeting the mineralised structure continue to intersect gold, reinforcing the Company’s understanding that it remains within a mineralised corridor of potential significance. These results, combined with logged geology and structural observations, provide valuable information that will assist in refining the Company’s exploration model. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 8: RC Drillhole Location Plan, Killarney Project For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 9: Cross Section 646080E, Killarney Project Duketon Project (Nickel) Rosie – Mineral Resource Estimate The Indicated and Inferred Mineral Resource Estimate (MRE) for Rosie of 2.77 million tonnes at 3.27% nickel equivalent is reported in accordance with the 2012 JORC Code (Table 1 and Table 2). The resource estimate is reported at >1% NiEq. Over 72% of the Resource has been classified as Indicated with the remainder in the Inferred Category (Table 1 and Table 2). Mineralisation remains open in all directions. The Mineral Resource contained metal stands at 56,300 tonnes of nickel, 11,800 tonnes of copper, 1,610 tonnes of cobalt and over 229,000 oz of total PGEs (Table 3). For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Figure 10: Plan of The Bulge Complex Resource Category Tonnes (kt) Ni% NiEq_% Indicated 2,012 2.11 3.35 Inferred 761 1.81 3.06 TOTAL 2,773 2.03 3.27 Table 1: Rosie Mineral Resource Statement (February 2022) >1.0% NiEq For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Rosie Nickel Resource >1% NiEq Classification Sulphide Tonnes Ni (%) Cu (%) Co (ppm) Total PGEs (g/t) NiEq) % Indicated Pentlandite 1,191,555 2.4 0.42 642 2.7 3.76 Violarite 820,999 1.7 0.39 504 2.5 2.75 Sub-Total 2,012,553 2.1 0.41 585 2.6 3.35 Inferred Pentlandite 694,751 1.8 0.48 580 2.5 3.13 Violarite 66,179 1.5 0.42 442 1.7 2.36 Sub-Total 760,930 1.8 0.48 568 2.4 3.06 Total All 2,773,483 2.0 0.43 580 2.6 3.27 Table 2: Rosie Mineral Resource Grade Note: For Tables 1 and 2. (1) Assumptions for the nickel equivalent are: Prices (in USD) $ 8.00/lb Ni, $3. 65/lb Cu, $1 5.30/lb Co, $1,100/oz Pt, $2,300/oz Pd and $15,500/oz Rh. (2) Recovery assumptions from metallurgical test work are: Pentlandite domain 96.9% Ni, 99.5% Cu, 95.1% Co, 78.2% Pt, 97.6% Pd and 83.4% Rh. Violarite domain 88.7% Ni, 94.5% Cu, 88.5% Co, 57.6% Pt, 87.3% Pd and 64.8% Rh. (3) The following equations were used to calculate nickel equivalent – Cu and Co measured in ppm and PGEs measured in ppb – all converted to percentages for NiEq calculation: (4) Pentlandite domain: NiEq = Ni% +(Cu% * 0.995 *(3.65/8)) + (Co% * 0.951 *(15.3/8)) + (Pt% * 0.782 * (1100 *14.583/8)) + (Pd% * 0.976 * (2300 * 14.583/8)) + (Rh% * 0.834 *(15500 * 14.583/8)) (5) Violarite domain: NiEq = Ni% +(Cu% * 0.945 *(3.65/8)) + (Co% * 0.885 *(15.3/8)) + (Pt% * 0.576 * (1100 *14.583/8)) + (Pd% * 0.873 * (2300 * 14.583/8)) + (Rh% * 0.648 *(15500 * 14.583/8)) where 14.583 is the amount of troy ounces per pound. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Contained Metal Classification Ore Type Ni (t) Cu (t) Co (t) Total PGEs (oz) Indicated Pentlandite 28,524 4,978 764 104,868 Violarite 13,966 3,230 414 64,869 Sub-Total 42,490 8,208 1,178 169,737 Inferred Pentlandite 12,786 3,337 403 55,740 Violarite 987 279 29 3,551 Sub-Total 13,774 3,616 432 59,291 Total 56,264 11,824 1,610 229,028 Table 3: Rosie Mineral Resource Contained Metal The resource includes a reportable nickel equivalent number based on metallurgical work completed to determine recoveries (see ASX announcements 8 July 2020 and 10 July 2020). It is the opinion of DKM that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. C2 – Mineral Resource Estimate The Indicated and Inferred Mineral Resource Estimate for C2 is 8.06 million tonnes at 0.57% nickel and is reported in accordance with the 2012 JORC Code. The resource estimate is reported at >0.4% Ni grade. Over 99% of the Resource is classified as Indicated (Table 4). Mineralisation remains open in all directions (see ASX Announcement 12 December 2022). The Mineral Resource contained metal stands at 46,263 tonnes of nickel, 2,339 tonnes of copper, 1,505 tonnes of cobalt and 25,684 oz of total PGEs (Table 5). For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 C2 Nickel Resource >0.4%Ni Classification Tonnes Ni (%) Cu (%) Pd (ppb) Pt (ppb) S (%) Indicated 7,955,751 0.57 0.03 56.7 42.8 1.7 Inferred 107,790 0.44 0.01 34.7 31.4 0.5 Total 8,063,541 0.57 0.03 56.5 42.7 1.7 Table 4: C2 Nickel Resource > 0.4% Ni with Auxiliary Attributes Classification Ni tonnes Cu tonnes Co tonnes PGE oz Indicated 45,790 2,325 1,490 25,455 Inferred 474 15 14 229 Total 46,263 2,339 1,505 25,684 Table 5: C2 Mineral Resource Contained Metal Combined Rosie and C2 Resources The total JORC compliant nickel resource for the Bulge Complex (Rosie and C2) now stands at 102,527 tonnes of nickel, 14,163 tonnes of copper and 254,712 ounces of PGEs (Table 6). Combined Metal Inventory, The Bulge Area Deposit Ni tonnes Cu tonnes PGE oz Rosie 56,264 11,824 229,028 C2 46,263 2,339 25,684 TOTAL 102,527 14,163 254,712 Table 6: Combined Metal Inventory, The Bulge Complex For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Regional Figure 11: Duketon Regional Tenements For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Ongoing Strategy The Company remains well positioned to drive value from three approaches: 1. Exploration opportunities on current tenure - assessing early -stage exploration opportunities across all projects looking at all commodities; 2. Acquiring new tenure – via opportunistic applications or by simple/low-cost commercial means; and 3. Expand/Study Nickel Resources - review mining study and target extensions to Rosie and C2 and the greater area for Ni-Cu-PGE’s. Corporate At 31 December 2025, the Company had a cash and liquids balance of A$11.3M comprised of cash of A$9.2M and shareholdings of A$2.1M. ASX Additional Information Exploration and evaluation expenditure during the quarter was $ 536,000 associated with geological consultants, field related activities , and tenement compliance costs. Details of exploration activity during the quarter are set out in this report. There were no substantive mining production and development activities during the quarter. During the quarter, the Company made cash payments of $108,000 to related parties and their associates. This was the aggregate amount paid to the directors including salary, directors’ fees, consulting fees and superannuation. Authorised for release by: Stuart Fogarty Duketon Mining Limited - Managing Director +61 8 6315 1490 For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 The information in the announcement that relates to production targets or financial information derived from a production target is extracted from the ASX announcement 28 April 2021 for the Rosie Scoping Study and is available to view on the Company’s webs ite (www.duketonmining.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 market announcement and that all material assumptions underpinning the production targ et or the financial information derived from the production target in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in the announcement that relates to Mineral Resources for Rosie is extracted from the ASX announcement 10 March 2022 and is available to view on the Company’s website (www.duketonmining.com.au). The information in the announcement that relates to Mineral Resources for C2 is extracted from ASX announcement 12 December 2023. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this report that re lates to exploration results is based on information compiled by Ms Kirsty Culver, Member of the Australian Institute of Geoscientists (AIG) and an employee of Duketon Mining Limited. Ms Culver has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a competent person as defined in the JORC Code 2012. Ms Culver consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announceme nts are available to view on the Company's website or on the ASX website ( www.asx.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 market. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. For personal use only
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Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490 Appendix 1: Summary of Mining Tenements At 31 December 2025 the Company had an interest in the following tenements: Tenemen t number Project State Status Interest at beginning of quarter Interest at end of quarter Acquired/ Disposed E28/3553 Eucla WA Application 100% 100% N/A E38/1997 Mt Mabel WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/2666 Duketon WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/2805 Duketon WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/2834 Duketon WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/2866 Duketon WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/2916 Duketon WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/3142 Granite Peak WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/3549 Millar Hill WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/3550 Mount Mabel WA Granted 100% Ni (note 1) 100% Ni (note 1) N/A E38/3658 Duketon North WA Granted 100% 100% N/A E45/6364 Otways WA Withdrawn 100% 0% Disposed E45/6864 Marlbourgh Well WA Application 100% 100% N/A E52/3833 Doris WA Surrendere d 100% 0% Disposed E58/642 Paynesville WA Granted 100% 100% N/A E58/643 Paynesville WA Granted 100% 100% N/A E59/2414 Stephens WA Granted 100% 100% N/A E77/2717 Barlee WA Granted 100% 100% N/A E77/3027 Barlee WA Application 100% 100% N/A E77/3129 North Walgoolan WA Granted 100% 100% N/A E77/3160 Lake Barlee South WA Granted 100% 100% N/A E77/3161 Lake Barlee South WA Application 100% 100% N/A E77/3304 Lake Barlee South WA Application 100% 100% N/A E77/3307 Lake Barlee South WA Application 100% 100% N/A E77/3334 Lake Barlee South WA Application 100% 100% N/A E77/3353 Lake Barlee WA Application 100% 100% N/A M38/1252 Duketon WA Granted 100% 100% Ni (note 1) N/A P38/4550 Duketon WA Granted 100% 100% N/A The Company did not have any interests in farm in or farm out agreements at the beginning, end or during the quarter. Note 1: 100% interest held in nickel rights only. For personal use only
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Rule 5.5 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 Duketon Mining Limited ABN Quarter ended (“current quarter”) 76 159 084 107 31 December 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for (536) (1,203) (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (165) (287) (e) administration and corporate costs (80) (203) 1.3 Dividends received (see note 3) - - 1.4 Interest received 95 196 1.5 Interest and other costs of finance paid (1) (2) 1.6 Income taxes refunded/(paid) - - 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) - - 1.9 Net cash from / (used in) operating activities (687) (1,499) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (5) (83) (d) exploration & evaluation - - (e) investments - - (f) other non-current assets - - For personal use only
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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 (6 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements 200 200 (c) property, plant and equipment - 37 (d) investments - 1,207 (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 from / (used in) investing activities 195 1,361 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 - - 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 (Principal elements of lease payments) (9) (17) 3.10 Net cash from / (used in) financing activities (9) (17) 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 9,673 9,327 4.2 Net cash from / (used in) operating activities (item 1.9 above) (687) (1,499) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 195 1,361 4.4 Net cash from / (used in) financing activities (item 3.10 above) (9) (17) For personal use only
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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 (6 months) $A’000 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 9,172 9,172 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 392 1,293 5.2 Call deposits 8,780 8,380 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) 9,172* 9,673 * Excludes 31 December 2025 market value of listed equity investments of $2,107,930. 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 1 108 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. For personal use only
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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. 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. N/A 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (687) 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) (687) 8.4 Cash and cash equivalents at quarter end (item 4.6) 9,172 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 9,172 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 13.4 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: N/A 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: N/A 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: N/A 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. For personal use only
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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. 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: 20 January 2026 ‘Signed electronically’ Authorised by: John Ribbons, Company Secretary (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 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. 6. By the Company lodging this Appendix 5B, the Managing Director and CFO declare that the Appendix 5B for the relevant quarter: • presents a true and fair view, in all material respects, of the cashflows of the Company for the relevant quarter and is in accordance with relevant accounting standards; • the statement given above is founded on a sound system of risk management and internal compliance and control which implements the policies adopted by the Board; and • the Company’s financial records have been properly maintained and the Company’s risk management and internal compliance and control system is operating efficiently and effectively in all material respects. For personal use only