Earnings release
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 admin@gg8.com.au +61 8 6149 1573 PO Box: PO Box 1473, Subiaco WA 6904 gorillagold8.com 1 ASX Announcement 31 October 2025 September 2025 Quarterly Activities Report Growth momentum builds for Gorilla as Mulwarrie Resource grows and Comet Vale drilling success paves way for year-end resource upgrade 340% increase in Mulwarrie Gold Project Mineral Resource Estimate ( ‘MRE’) with the grade rising by ~30% after just 4 months of drilling: • MRE increased to 3.0Mt at 3.6g/t Au for 350koz of contained gold: • 340% increase on previously estimated Resource ounces and 29% increase in grade. • Additional ounces delivered at a discovery cost of ~$15/oz. • 2.1Mt at 3.3g/t Au for 220koz (50% in Indicated category) reports into an open pit shell at a 0.5g/t cut-off grade and A$4,000/oz gold price. • 0.9Mt at 4.3g/t Au for 130koz (97% Inferred) reports into underground Mineable Shape Optimisations (‘MSO’s’) at a cut-off grade of 1.1g/t Au and A$4,000/oz gold price. Exciting new Lakeview discovery continues to grow at the Comet Vale Project, located on granted Mining Leases 90km north of Kalgoorlie • Drilling continues to expand the thick, high-grade gold system at Lakeview, which now extends over a strike length of more than 700m and 600m down-dip and remains open with multiple mineralised structures. Intercepts this quarter include: • 6m @ 10.3g/t Au from 246m in LVEX119 , 150m down-dip of LVEX034 (24m @ 10.3g/t Au from 200m) on the main King Kong lode. • 4m @ 6.5g/t Au from 276m in in LVEX119 , on a potentially new structure to the south of the main King Kong lode. • 9m @ 1.1g/t Au from 197m in LVEX119 , on a potentially new structure to the north of the main King Kong structure. • 1.6m @ 19.0g/t Au from 443.5m in LVEX143a – King Kong Lode, 250m down -dip of LVEX034 (24.0m @ 10.3 g/t), within a major 100m wide weakly mineralised structural damage zone that needs to be targeted further. • 1.0m @ 15.7g/t Au from 569.5m in LVEX128 – King Kong Lode, 250m down -dip of LVEX124 (11.5m @ 5.5 g/t). For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 2 High-grade extensions identified at the Sovereign, Sovereign North, Cheer and Happy Jack Prospects at the Comet Vale Project • High-grade drilling intercepts outside of existing MRE include: • 21m @ 11.6g/t Au from 23m in HJEX005, in a previously unrecognised parallel position 50m south of the Happy Jack structure. • 7m @ 3.4g/t Au from 72m in HJEX009, on the Happy Jack structure. • 12m @ 1.1g/t Au from 0m in HJEX009, in a previously unrecognised position 50m north of the Happy Jack structure. • 5m @ 66.3g/t Au from 399m in STEX084 , 80m down -dip from historical hole JVD028 (1.2m @ 32g/t Au from 338.5m) and 100m along strike to the north of JVD014 (1.6m @ 14g/t Au). • 8.9m @ 13.8g/t Au from 371.4m in STEX085 , drilled 60m down -dip to the south of historical drill-hole RD007 (3.1m @13.3g/t Au from 302m). • 0.9m @ 29.5g/t Au from 296m in STEX086 , drilled 60m along strike to the south of historical drill-hole RD007 (3.1m @13.3g/t Au from 302m). • 8.5m @ 2.8g/t Au from 59.5m in CVEX044 , drilled between CVEX002 (13m @1g/t Au from 49m) and CVEX028 (14m @ 4.9g/t Au from 32m), providing critical data for the updated MRE. High-grade extensions to the August 2025 MRE confirmed in drilling at the Mulwarrie Project, located on granted Mining Leases 60km west of Comet Vale • High-grade drilling intercepts outside of and up to 150m down-dip of the MRE, including: • 4.2m @ 54.0g/t Au from 334.3m in MWEX046 , drilled 50m down-dip from the August 2025 MRE. • 7.8m @ 5.0g/t Au from 490.8m in MWEX081, drilled 130m down-dip of the August 2025 MRE. • 5.3m @ 13.0g/t Au from 140.5m in MWEX080, drilled 80m up-dip of MWEX016 (5m @ 16.1 g/t Au from 248m). • 1.6m @ 18.6g/t Au from 130.5m in MWEX052, drilled 80m down-dip. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 3 Quality additions to Gorilla’s leadership team to help drive studies and development of its key Western Australian Projects • Craig Jones (Spartan, Bellevue, Northern Star) appointed as a Non -Executive Director and will have a consulting agreement to provide senior technical input on studies and development of the Company’s key WA gold projects. • Daniel Kendall (Nexxis, Delta Lithium, Talon Energy) appointed as Chief Financial Officer. • Jarrod Ramadan (Ora Banda, Ramelius, Westgold, Rio Tinto, AngloGold) joins the team to lead studies and drive development at all three WA projects. • Chris Goti (Spartan) joins the team to lead Permitting, Heritage and Environmental studies across all projects. Gorilla Gold Mines Ltd (‘the Company’, ‘Gorilla’ or ‘GG8’) (ASX: GG8), is pleased to report on the Company’s activities for the September 2025 Quarter. Charles Hughes, Gorilla Gold’s Chief Executive Officer, commented: “This was another outstanding quarter for Gorilla as we continued to accelerate our high-grade gold growth strategy in WA. We delivered a major resource update at Mulwarrie for a discovery cost of just $15/oz and returned further high-grade intercepts outside the existing Resource. “This takes our total resource base in WA to more than 700koz at an impressive grade of about 4 g/t Au. “At Comet Vale, we continue to make new discoveries – including at the Happy Jack Prospect and a new zone between Happy Jack and Cheer. At Lakeview, drilling has now extended the King Kong lode to 600m depth, with major extensions also confirmed at Sovereign. “We currently have four drill rigs operating at Comet Vale – two focused on extensional drilling at Lakeview ahead of a maiden Mineral Resource Estimate planned for Q4 and two testing high-potential exploration targets at Silverback, Sovereign and other prospects. “At Gorilla, we pride ourselves on doing what we sa y we’ll do. Our strategy is simple: to rapidly grow high- grade gold resources on granted Mining Leases close to processing and logistical infrastructure. This quarter clearly demonstrates that strategy in action – and we’re only just getting started on our journey to build a substantial high-grade gold inventory in the heart of WA’s goldfields.” For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 4 Figure 1 – Gorilla Gold Project Locations, Western Australia For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 5 COMET VALE The Comet Vale Project has seen historical gold production of >200koz @ >20g/t Au, with underground operations occurring as recently as 20 20. The bulk of historical production comes from the Sovereign Prospect, which also hosts a M RE of 96koz @ 4.8g/t Au (including a lower grade potential open pit component). Gorilla made a significant high -grade gold discovery at the Lakeview Prospect in February 2025, with new lodes also discovered at Sovereign North in January 2025. The Project lies within granted Mining Leases, adjacent to the Goldfields Highway, in a region with multiple operational gold mills within a 100km radius. The Company has now identified more than 10 mineralised parallel east -west structures at Comet Vale, extending over a strike length of more than 1km with either historical mining workings or anomalous rock chips identified on these structures. Previous operators of the Project employed strategies to get the Comet Vale mine into production as quickly as possible, which has left the Project with significant exploration upside. Gorilla’s immediate objective is to grow the high-grade gold resource base at the Comet Vale Project across the Lakeview, Cheer and Sovereign Prospects. Activities during the period focused on growth and exploration drilling at the Lakeview, Sovereign North, Sovereign, Cheer and Happy Jack Prospects utilising Reverse Circulation (‘RC’) and Diamond Drill (‘DD’) rigs. Further extensions to d iscoveries at the prospects were delineated during the quarter. In addition , soil sampling was ongoing over the Comet Vale Project as well as metallurgical testwork from the Lakeview Prospect. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 6 Figure 2 – Comet Vale Project Location Comet Vale Depleted Resource as of 03/09/2020, Au>=0.5g/t (OP) and Au>=2.5g/t (UG) Category Tonnage Au Grade (g/t) Au Ounces Indicated 310,868 5.61 56,027 Inferred 308,620 4.00 39,683 Total 619,489 4.81 95,710 Table 1 – Comet Vale Project MRE The Company is not aware of any new information or data that materially affects the information as previously released on 11 April 2023 and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 7 Figure 3 – Comet Vale Project Tenements and Key Prospects Soil sampling across the Comet Vale Project continued to highlight new areas of strong gold anomalism (Figure 4 below). The soil sampling methodology is able to “see through” 1-10m deep sand cover that is present on approximately 60% of the project area. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 8 Figure 4 – Comet Vale Project Soil sampling For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 9 ASX Announcement XX July 2025 Lakeview Prospect In February 2025, Gorilla undertook a scout drilling program along the Lakeview shear targeting coincidences of historical gold workings, major structural positions and anomalous surface gold geochemistry. Three shallow holes were drilled at Lakeview historically, with anomalous gold intercepts in two of the holes. Gorilla felt that the target was worthy of further testing as the structure had not been tested at different relative levels and some of the workings were quite signific ant. Gorilla’s scout drilling program returned significant gold mineralised intercepts associated with quartz veining and sulphide development within ultramafic lithologies adjacent to major structures. Early results included 13m @ 10g/t Au from 123m in LVEX008 and 19m @ 18.1g/t Au from 80m in LVEX018 (Figure 7), with follow up drilling this Quarter intercepting: 16m @ 3.5g/t Au from 280m in LVEX069 (Figure 5), 96m @ 2.5g/t Au from 125m in LVEX027 (Figure 5) and 24m @ 10.3g/t Au from 200m in LVEX034 (Figure 6). Figure 5 – Lakeview Cross-section LVEX069 For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 10 Figure 6 – Lakeview Cross-section LVEX034 Thick, high-grade gold mineralisation has now been intersected over a strike extent of approximately 700m with the mineralisation open in all directions (see Figure 7 below) over some 2.2km of strike. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 11 Table 2 – Comet Vale Project drill intercepts Significant intercepts outside of resource from Comet Vale: • 19.0m @ 18.1 g/t Au fr. 80m LVEX018 (344 gram-metre) • 11.0m @ 24.8 g/t Au fr. 145m LVEX017 (273 gm) • 24.0m @ 10.3g/t Au fr. 200m LVEX034 (247 gm) • 96.0m @ 2.5g/t Au fr. 125m LVEX027 (240 gm) • 40.0m @ 4.0g/t Au fr. 128m LVEX031 (160 gm) • 22.0m @ 6.8g/t Au fr. 138m LVEX030 (150 gm) • 13.0m @ 10.0g/t Au fr. 123m LVEX008 (130 gm) • 2.0m @ 126.4 g/t Au fr. 52m C31 (253 gram-metre) • 21.0m @ 11.6 g/t Au fr. 23m HJEX005 (243 gram-metre) • 18.0m @ 7.8 g/t Au fr. 50m C6 (140 gm) • 3.0m @ 26.0g/t Au fr. 51m CVEX006 (80 gm) • 4.0m @ 18.8g/t Au fr. 108m CVEX016 (75 gm) • 13.0m @ 5.3g/t Au fr. 44m C14 (69 gm) • 14.0m @ 4.9g/t Au fr. 32m CVEX028 (69 gm) • 5.0m @ 10.4g/t Au fr. 10m C15 (52 gm) • 5.0m @ 66.3g/t Au fr. 399m STEX084 (332 gm) • 7.0m @ 19.0g/t Au fr. 49m STEX048 (133 gm) • 6.0m @ 22.0g/t Au fr. 70m STEX060 (132 gm) • 8.9m @ 13.8g/t Au fr. 371.4m STEX085 (123 gm) • 13.0m @ 5.1g/t Au fr. 191m STEX077 (66 gm) • 5.0m @ 11.6g/t Au fr. 53m STEX049 (58 gm) • 7.0m @ 8.2g/t Au fr. 216m STEX059 (57 gm) • 8.0m @ 5.1g/t Au fr. 80m STEX011a (43 gm) For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 12 Figure 7 – Lakeview Long Section For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 13 ASX Announcement XX July 2025 Figure 8 – Cheer - Happy Jack Long section For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 14 Figure 9 – Sovereign North Long Section For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 15 ASX Announcement XX July 2025 MULWARRIE The main mineralisation at Mulwarrie was discovered in 2017, with modest open pit production occurring before then. Prior to the 2017 discovery, the project had fractured ownership, and after the discovery, the project was tenure constrained and caught up in M&A activity. When Gorilla Gold acquired the Mulwarrie Project in November 2024, the Company further consolidated tenure in the area to unlock growth opportunities for the project. A MRE of 78koz @ 2.8g/t Au (see Genesis Minerals ASX Announcement dated 18 November 2024), was previously defined at the project, which Gorilla has since sought to increase both in terms of tonnes and grade. Mulwarrie lies within granted Mining Leases, is adjacent to the Riverina-Davyhurst haul road, and is situated in a region with multiple operational gold mills within a 100km radius of the Project area. At Mulwarrie, a major north-west trending, steeply dipping mineralised fault system is developed in mafic and intermediate lithologies with mineralisation associated with this structural system and the development of quartz veining, pyrrhotite and pyrite sulphides and biotite alteration, often at the margins of intermediate porphyries. An updated MR has been undertaken by Snowden Optiro using historical data and GG8 data (Table 3). Mulwarrie Project Mineral Resource estimate Resource category Cut-off Au grade Tonnes Grade Au (Au g/t) (kt) (Au g/t) (koz) Mulwarrie OP Measured 0.5 Indicated 1,200 2.7 110.0 Inferred 850 4.0 110.0 Sub Total 2,100 3.3 220.0 UG Measured 1.1 Indicated 34 3.1 3.3 Inferred 900 4.3 130.0 Sub Total 940 4.3 130.0 ALL Measured Indicated 1,300 2.8 110.0 Inferred 1,800 4.2 240.0 Total Resource 3,000 3.6 350.0 Notes: • Open Pit (OP) resources are constrained within optimised pit shells based on A$4,000 per ounce gold price and reported at 0.5 g/t Au cut-off grade. • Underground (UG) resources are evaluated below the optimised pit shell and constrained within mineable shapes designed at 1.1g/t gold cut-off grade and reported within the mineralised domains • All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding. Table 3 – Mulwarrie Project MRE table The Company is not aware of any new information or data that materially affects the information as previously released on 4 August 2025 and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 16 Figure 10 – Mulwarrie Project Location Plan Activities during the period focused on geological modelling leading to a major resource update. In addition to this, soil sampling was ongoing over Project as well as metallurgical testwork. Growth and exploration drilling at the project utilising RC and diamond drill rigs is expected to recommence during the December quarter. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 17 Table 4 – Significant drilling intercepts at Mulwarrie Figure 11 – Mulwarrie Project Cross-section Significant intercepts from Mulwarrie: • 5.0m @ 95.0 g/t Au fr. 73m 17MWRC008 (475 gram-metre) • 4.2m @ 54.0 g/t Au fr. 334.3m MWEX046 (227 gm) • 8.2m @ 23.5 g/t Au fr. 217.6m MWEX012 (193 gm) • 13.0m @ 14.0g/t Au fr. 63m MWDD001 (183 gm) • 14.0m @ 12.0g/t Au fr. 122m 17MWRC097 (168 gm) • 7.0m @ 22.7g/t Au fr. 97m 17MWRC019 (159 gm) • 15m @ 9.5g/t Au fr. 72m MWRC628 (143 gm) • 13.2m @ 8.5 g/t Au fr. 359m MWEX041 (112 gm) For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 18 Figure 12 – Mulwarrie Project Soil sampling For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 19 ASX Announcement XX July 2025 Figure 13 – Mulwarrie Long Section For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 20 ASX Announcement XX July 2025 VIVIEN The Vivien Project has seen historical production of >250koz @ 5.8g/t Au, with underground operations occurring as recently as 2023, operated by Ramelius Resources Ltd. The Project hosts a recently stated MRE of 278koz @ 4.2g/t Au (Table 5) and is located within granted Mining Leases adjacent to the Leinster -Mt Magnet Road with operating gold mills as close as 4km away. Previous operators of the Project focused on mining the Main Lode at Vivien, and were trucking the ore so far for milling that exploration and growth activities were not a consideration. This has left the Project with significant resource growth potential. Gorilla’s objective is to rapidly grow the resource base at Vivien. No activities occurred on the ground during the reporting period. Plans for exploration drilling are underway with expected commencement in the December quarter 2025. Figure 14 – Vivien Project Plan For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 21 Vivien MRE Au>=0.5g/t (OP) and Au>=1.5g/t (UG) Category Tonnage (Mt) Au Grade (g/t) Au (Koz) Indicated 0.15 4.9 24,000 Inferred 1.95 4.1 254,000 Total 2.1 4.1 278,000 Table 5 – Vivien Project MRE The Company is not aware of any new information or data that materially affects the information as previously released on 1 5 April 2025 and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Figure 15 – Vivien Main lode MRE oblique 3D view. CANADIAN ACTIVITIES The Labyrinth and Denain Projects are situated in a world -class mining jurisdiction hosted by the prolific Abitibi Greenstone Belt. Gorilla is actively remodelling and assessing the growth potential of the Canadian projects. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 22 Figure 16 – Labyrinth Project Location Plan The high-grade Labyrinth Gold Project is located in the prolific Abitibi Greenstone Belt and was last mined in the early 1980s, when production stopped amid the depressed gold price. Very limited exploration has been conducted on the project since. Gorilla Gold finalised the Project Acquisition Agreement in late 2021 and took the opportunity to further define the resource with diamond drilling, undertake metallurgical testing and provide a conservative updated MRE. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 23 Gorilla has a high-grade maiden JORC 2012 MRE completed in 2022 of 500,000oz at 5g/t Au (refer Table 6). The Inferred Mineral Resource includes mineralisation within five lodes – Boucher, McDowell, Talus, Shaft and Front West. Labyrinth Project Mineral Resource Estimate Summary Table Lode Tonnes (Mt) Au (g/t) Au (oz) Inferred Boucher 1 5.7 190,000 McDowell 1 4.5 150,000 Talus 0.7 5.3 110,000 Front West 0.2 2.7 20,000 Shaft 0.1 5.5 30,000 Total 3 5.0 500,000 Notes: 1. Reported at a 3g/t.m accumulation (grade x vein thickness) cut-off and depleted for historical mining 2. The Mineral Resource is classified in accordance with the JORC Code (2012) 3. The effective date of the Mineral Resource estimate is 25 August 2022 4. Estimates are rounded to reflect the level of confidence in the Mineral Resource at present. All resource tonnages have been rounded to the first significant figure. Differences may occur in totals due to rounding 5. Mineral Resource is reported as a global resource. Table 6 – Labyrinth Project MRE The Company is not aware of any new information or data that materially affects the information as previously released on 27 September 2022 and all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. ACQUISITIONS There were no material acquisitions during the quarter. CAPITAL RAISING On 22 October 2025, the Company announced a placement to institutional and sophisticated investors of A$31.7 million (before costs). The Placement was driven by strong demand from leading international, specialist resource focused institutional investors and was also supported by existing institutional and sophisticated investors . Gorilla’s share register is now well positioned with a broad range of long -only institutional shareholders who have demonstrated their support for the Company’s strategy of aggressive high grade gold exploration to fast-track resource growth and development. CORPORATE As at 30 September 2025, Gorilla had $15.9 million of cash on hand. Cash outflows for the quarter totalled $9.2 million, including: • Exploration & evaluation expenditure of $7.9 million with over 26,000 metres drilled at Comet Vale Project including 13,000 metres of diamond drilling. For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 24 • Stamp Duty payments of $0.7 million relating the Admiral Gold Pty Ltd (Mulwarrie Project) and Distilled Analytics Pty Ltd (Distilled Project) acquisitions; and • Corporate expenditure of $0.8 million (including $77k for prepaid insurance). (*) Stamp Duty payments for historical Admiral Gold (Mulwarrie) and Distilled (Vivien) transactions per Appendix 5B item 2.1(b) (**) Corporate includes staff, administration and corporate costs per Appendix 5B Item 1.2 Figure 17 – September 2025 Quarter Cash Flow Analysis In accordance with Listing Rule 5.3.1, there were no substantive mining production and development activities undertaken during the quarter. In accordance with Listing Rule 5.3.5, Gorilla advises that the payments to related parties during the quarter as advised in the Appendix 5B comprise Directors’ Fees of $67,000 and $42,000 for legal fees to a firm partly owned by a related party. During the quarter, the Company issued 15,460,487 new fully paid ordinary shares upon the exercise of performance rights held by Distilled Analytics Pty Ltd vendors for the acquisition of the Vivien Project in September 2024. This announcement has been authorised for release by the Board of Gorilla Gold Mines Ltd. Investor Enquiries Media Enquiries Mr Charles Hughes Read Corporate – Nicholas Read Chief Executive Officer Mobile: 0419 929 046 admin@gg8.com.au nicholas@readcorporate.com.au For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 25 INTERESTS IN TENEMENTS Tenement/ Claim Location Project Group Interest Start of Quarter Group Interest End of Quarter M29/0035 Western Australia Comet Vale 51% 100% M29/0052 Western Australia Comet Vale 51% 100% M29/0085 Western Australia Comet Vale 51% 100% M29/0185 Western Australia Comet Vale 51% 100% M29/0186 Western Australia Comet Vale 51% 100% M29/0197 Western Australia Comet Vale 51% 100% M29/0198 Western Australia Comet Vale 51% 100% M29/0199 Western Australia Comet Vale 51% 100% M29/0200 Western Australia Comet Vale 51% 100% M29/0201 Western Australia Comet Vale 51% 100% M29/0232 Western Australia Comet Vale 51% 100% M29/0233 Western Australia Comet Vale 51% 100% M29/0235 Western Australia Comet Vale 51% 100% M29/0270 Western Australia Comet Vale 51% 100% M29/0321 Western Australia Comet Vale 51% 100% L29/0067 Western Australia Comet Vale 51% 100% P29/2606 Western Australia Comet Vale (Happy Jack) 0% 0%(1) M30/0119 Western Australia Mulwarrie 100% 100% M30/0145 Western Australia Mulwarrie 100% 100% P30/1141 Western Australia Mulwarrie 100% 100% For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 26 P30/1142 Western Australia Mulwarrie 100% 100% P30/1143 Western Australia Mulwarrie 100% 100% E30/0511 Western Australia Mulwarrie 100% 100% E30/0512 Western Australia Mulwarrie 100% 100% E30/0513 Western Australia Mulwarrie 100% 100% E59/2874 Western Australia Yalgoo-Lang Well 0% 100% M36/0034 Western Australia Vivien 100% 100% M36/0061 Western Australia Vivien 100% 100% M36/0064 Western Australia Vivien 100% 100% M36/0111 Western Australia Vivien 100% 100% M36/0292 Western Australia Vivien 100% 100% P36/1890 Western Australia Vivien 100% 100% CDC2438660 Quebec Denain 85% 85% CDC2438661 Quebec Denain 85% 85% CDC2438662 Quebec Denain 85% 85% CDC2438663 Quebec Denain 85% 85% CDC2438664 Quebec Denain 85% 85% CDC2438665 Quebec Denain 85% 85% CDC2438666 Quebec Denain 85% 85% CDC2438667 Quebec Denain 85% 85% CDC2438668 Quebec Denain 85% 85% CDC2438669 Quebec Denain 85% 85% For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 27 CDC2438670 Quebec Denain 85% 85% CDC2438671 Quebec Denain 85% 85% CDC2438672 Quebec Denain 85% 85% BM869 Quebec Labyrinth 100% 100% CDC2477686 Quebec Labyrinth 100% 100% CDC2477687 Quebec Labyrinth 100% 100% CDC2477688 Quebec Labyrinth 100% 100% CDC2477689 Quebec Labyrinth 100% 100% CDC2477690 Quebec Labyrinth 100% 100% CDC2477691 Quebec Labyrinth 100% 100% CDC2477692 Quebec Labyrinth 100% 100% CDC2477693 Quebec Labyrinth 100% 100% CDC2477694 Quebec Labyrinth 100% 100% CDC2477695 Quebec Labyrinth 100% 100% CDC2477696 Quebec Labyrinth 100% 100% CDC2477697 Quebec Labyrinth 100% 100% CDC2477698 Quebec Labyrinth 100% 100% CDC2477699 Quebec Labyrinth 100% 100% CDC2477700 Quebec Labyrinth 100% 100% CDC2477701 Quebec Labyrinth 100% 100% CDC2477702 Quebec Labyrinth 100% 100% CDC2477703 Quebec Labyrinth 100% 100% For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 28 CDC2477704 Quebec Labyrinth 100% 100% CDC2477705 Quebec Labyrinth 100% 100% CDC2477706 Quebec Labyrinth 100% 100% CDC2477707 Quebec Labyrinth 100% 100% CDC2477708 Quebec Labyrinth 100% 100% CDC2477709 Quebec Labyrinth 100% 100% CDC2477710 Quebec Labyrinth 100% 100% CDC2477711 Quebec Labyrinth 100% 100% CDC2477712 Quebec Labyrinth 100% 100% CDC2477713 Quebec Labyrinth 100% 100% CDC2477714 Quebec Labyrinth 100% 100% CDC2477715 Quebec Labyrinth 100% 100% CDC2477716 Quebec Labyrinth 100% 100% CDC2477717 Quebec Labyrinth 100% 100% CDC2477718 Quebec Labyrinth 100% 100% CDC2477719 Quebec Labyrinth 100% 100% CDC2776635 Quebec Labyrinth 100% 100% CDC2776636 Quebec Labyrinth 100% 100% CDC2786148 Quebec Labyrinth 100% 100% CDC2786149 Quebec Labyrinth 100% 100% CDC2786150 Quebec Labyrinth 100% 100% CDC2786151 Quebec Labyrinth 100% 100% For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 29 CDC2786152 Quebec Labyrinth 100% 100% CDC2786153 Quebec Labyrinth 100% 100% CDC2786154 Quebec Labyrinth 100% 100% CDC2786155 Quebec Labyrinth 100% 100% (1) P29/2606 subject to unexercised binding option agreement to purchase. SUMMARY OF PAYMENTS FOR EXPLORATION AND EVALUATION BY PROJECT (QUARTER) COMPETENT PERSONS STATEMENTS The information in this announcement relates to exploration results for the Comet Vale, Mulwarrie, Vivien, Labyrinth, and Denain Gold Projects which Mr. Charles Hughes has reviewed and approves. Mr. Hughes, who is an employee of Gorilla Gold Mines Ltd, a professional geoscientist and a Member of the Australian Institute of Geoscientists. Mr. Hughes has sufficient experience relevant to the style of mineralisation and type of deposits under consideration, and to the activities which have been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves. Mr. Hughes consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Specific exploration results referred to in this announcement were originally reported in the following Company announcements in accordance with ASX Listing Rule 5.7: Project Cash Expenditure $’000 Comet Vale 6,550 Mulwarrie 1,181 Vivien 107 Penny’s Find 18 Labyrinth 78 Total 7,934 Title Date Strongly Supported Placement to Accelerate Growth 22 October 2025 High Priority Surface Geochem Targets – Comet Vale / Mulwarrie 17 October 2025 Key Leadership Appointments Drive Growth & Comet Vale Update 9 October 2025 Mulwarrie High Grade Step-Outs 3 October 2025 Camp Scale Gold System Emerges at Comet Vale 8 September 2025 High Grade Step Out Holes at Mulwarrie 26 August 2025 For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 30 structures and pave way for resource upgrade 18 March 2019 High Grade Discovery from Happy Jack 21 August 2025 Bonanza Grades from Sovereign 19 August 2025 Comet Vale Drilling Update 14 August 2025 Results from Initial Metallurgical Test Work at Lakeview 5 August 2025 Mulwarrie Resource Update 4 August 2025 Mulwarrie Drilling Update 28 July 2025 Mulwarrie Drilling Update 17 July 2025 Lakeview Drilling Update 7 July 2025 Update For Comet Vale and Mulwarrie 2 July 2025 High Grade Diamond Results from Mulwarrie 12 June 2025 Lakeview Update 6 June 2025 Mulwarrie Drilling Update 30 May 2025 Parallel Structure Discovered at Lakeview 19 May 2025 Lakeview Update 8 May 2025 Lakeview Extended 125m Along Strike 17 April 2025 Maiden Gorilla Mineral Resource Estimate for Vivien Project 15 April 2025 Mulwarrie Drilling Update 4 April 2025 Maiden Drilling Results at Mulwarrie 24 March 2025 Further High Grade Hits from Sovereign and Lakeview Prospects 17 March 2025 Lakeview High-Grade Intercepts Grow Mineralisation 28 February 2025 Gold Intercepts from New Prospects at Comet Vale and Vivien 24 February 2025 Drilling Commenced at Vivien & Accelerates at Comet Vale 14 January 2025 Mulwarrie Acquisition Completion & Olympio Option Exercise 2 December 2024 $19.5m Placement to Accelerate Gold Exploration Programs 20 November 2024 Reporting on Genesis Minerals Mulwarrie Project 18 November 2024 Acquisition of Mulwarrie from Genesis 18 November 2024 Maiden Gold Drilling Results at Cheer 6 November 2024 LRL Enters Binding Option with Olympio 4 November 2024 Review of Historical Vivien and Comet Vale Databases 13 September 2024 LRL Set to Acquire Vivien Project and 100% of Comet Vale 17 July 2024 Comet Vale Mineral Resource Estimate 11 April 2023 Labyrinth Maiden Mineral Resource Estimate 27 September 2022 Bardoc Gold Limited: High grade diamond drilling results at Mulwarrie confirm lode For personal use only
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Gorilla Gold 292 Barker Road, Subiaco, Western Australia 6008 gorillagold8.com 31 The Company confirms that it is not aware of any information or data that materially affects the information included in the said original announcements and the form and context in which the Competent Persons’ findings are presented have not materially modified from the original market announcements. FORWARD LOOKING INFORMATION This announcement contains forward-looking information about the Company and its operations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. 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 GORILLA GOLD MINES LTD ABN Quarter ended (“current quarter”) 45 008 740 672 30 SEPTEMBER 2025 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 1.2 Payments for - - (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (214) (214) (e) administration and corporate costs (576) (576) 1.3 Dividends received (see note 3) - - 1.4 Interest received 263 263 1.5 Interest and other costs of finance paid (1) (1) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other – Sales tax refund - - 1.9 Net cash from / (used in) operating activities (528) (528) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements (692) (692) (c) property, plant and equipment (33) (33) (d) exploration & evaluation (7,934) (7,934) (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 (3 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment 19 19 (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 – cash from acquisition - - 2.6 Net cash from / (used in) investing activities (8,640) (8,640) 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 – Lease payment (14) (14) 3.10 Net cash from / (used in) financing activities (14) (14) 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 25,113 25,113 4.2 Net cash from / (used in) operating activities (item 1.9 above) (528) (528) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (8,640) (8,640) 4.4 Net cash from / (used in) financing activities (item 3.10 above) (14) (14) 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 (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 15,931 15,931 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 8,281 9,963 5.2 Call deposits(1) 7,500 15,000 5.3 Bank overdrafts - - 5.4 Other – restricted cash on deposit 150 150 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 15,931 25,113 (1) Call deposits are short term deposits with a tenor of 3 months or less. 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 75 6.2 Aggregate amount of payments to related parties and their associates included in item 2 34 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. The amounts reported in 6.1 consists of $67,000 for Directors fees and $8,000 for legal fees to entities held by a Director. The amounts reported in 6.2 consists of $34,000 for legal fees to entities held by a Director. 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 - - 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. Answer: N/A 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (528) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (7,934) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (8,462) 8.4 Cash and cash equivalents at quarter end (item 4.6) 15,931 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 15,931 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 1.88 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: Yes 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: Yes – On 22 October the Company announced that it had received firm commitments for an A$31.7 million Placement (before costs) to institutional and sophisticated investors. 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: Yes – Settlement of the A$31.7 million placement discussed in 8.8.2 above was completed on 29 October 2025 with allotment of new shares occurring on 30 October 2025. 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: ...........31 October 2025.............................................................. Authorised 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 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. For personal use only