Earnings release
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 1 Minerals 260 Limited | ABN 34 650 766 911 PO Box 638, West Perth WA 6005 Level 1, 2 Kings Park Road, West Perth WA 6005 info@minerals260.com.au +61 8 6556 6020 www.minerals260.com.au September 2026 Quarterly Activities Report Minerals 260 Limited (ASX:MI6) is pleased to provide the September 2026 Quarterly Activities Report for its 100%- owned 6.2Moz Bullabulling Gold Project (the “Project” or “Bullabulling”), located 65km from Kalgoorlie in Western Australia. Quarterly Activities Summary • $170 million of royalty funding and $30 million equity investment secured with Franco- Nevada. This brings Franco-Nevada’s total investment in Minerals 260 to $420 million, their largest investment in Australia. • $250 million raised (before costs and including Franco-Nevada’s $30 million) via a two-tranche equity placement with strong support from existing and new institutional shareholders. • Definitive Feasibility Study (“DFS”) on track for Q1 CY2027 to support Final Investment Decision (“FID”). • Expanded Mining Lease ( “ML”) granted, with the new ML and other existing granted MLs covering the entire mining and processing area defined in the Pre-Feasibility Study. • Village construction is progressing to plan. Manufacture and installation of an additional 200 rooms approved by the Board, expanding capacity to 600 rooms. The expanded village is scheduled to be operational by March 2027 ahead of ramp up of expected major construction activities. • Remaining approvals under the Western Australia state pathway are under assessment by the relevant Departments. Required remaining approvals are expected to support the timing of FID (Figure 1). • Water exploration and installation of infrastructure continuing, 22 bores are now installed across the Project. • Initial ~26,000m grade control drilling program completed indicating overall gold grades consistent with the drilling underpinning the 6.2Moz Mineral Resource Estimate (“MRE”). • Drilling results included 1.1m @ 290g/t Au from 170m at Bacchus and 7m @ 10.9g/t Au from 7m at Phoenix , with drilling continuing to c onfirm the continuity of mineralisation within the MRE, as well as extensions beyond the MRE boundaries. • 367km2 of tenure acquired which is largely contiguous with the Bullabulling Gold Project. This increases the Project area to 1,527km2, representing a significant expansion from the initial 130km2 acquired in April 2025. • DFS geotechnical testwork complete and expected to support an improvement of pit wall angles in fresh rock compared to the Pre- Feasibility Study (“PFS”). DFS metallurgical testwork continues to demonstrate comminution assumptions and gold recoveries consistent with the PFS. • Project financing process is progressing well and is expected to support the timing of FID. • The Company is well funded to progress all activities with a pro forma cash balance of ~$600 million1. Health, Safety and Environment There was one reportable incident in the quarter associated with a minor finger injury, and no lost time injuries. 1Cash and short-term deposits of $530m as at 30 September 2026, plus Tranche 2 Placement proceeds of $71.1m (before costs and subject to shareholder approval at the General Meeting on 30 October 2026) and Share Purchase Plan (“SPP”) proceeds of $1.98m received on 23 October 2026. Includes $17.0m of GST received in September 2026 in connection with the Franco-Nevada royalty funding, which was remitted to the ATO in October 2026.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 2 Management Comment Minerals 260 Managing Director, Luke McFadyen, said: “The development of Bullabulling continued to move at a significant pace during the September Quarter. Village construction is on schedule, our water infrastructure is rapidly being installed, and all the remaining approvals documentation has been lodged with the assessment process on track to support FID in Q1 CY2027. Our initial grade control drilling has returned overall grades consistent with the resource drilling, and we look forward to starting the second grade control program shortly. Following the recent second royalty agreement with Franco- Nevada and subsequent capital raising, the Company is in an exceptionally strong financial position to keep advancing all DFS work and early construction activities on an accelerated timetable.” Franco-Nevada Royalty and Equity Raising During the quarter Minerals 260 secured $420 million (before costs) of new funding, comprising an additional $170 million royalty with Franco -Nevada and a $250 million two- tranche equity placement (“Placement”) . The royalty extension increased Franco- Nevada’s royalty by 1.45% , taking its aggregate royalty to 3.90% across the Royalty Area (refer to 14 September 2026 ASX announcement for further information) . Franco-Nevada also made a $30 million cornerstone equity investment as part of the Placement to existing and new institutional and sophisticated investors . Tranche 1 of the Placement was completed during the quarter, raising approximately $178.9 million (before costs). Tranche 2 comprises 80,799,411 shares to raise approximately $71.1 million (before costs) and remains subject to shareholder approval being sought at the Company’s G eneral Meeting to be held on 30 October 2026. This brings Franco-Nevada's total investment in Minerals 260 to $420 million since its initial investment of $220 million in February 2026, representing Franco- Nevada's largest ever investment to a single project in Australia and one of its largest ten investments globally, validating Bullabulling as one of Australia’s leading, long-life and large-scale gold development projects. Franco-Nevada will also contribute up to $100,000 each year for three years to support local community, education and environment initiatives. As previously announced, t he remaining capital estimated to be required to bring the Project into production is expected to be funded through traditional project finance (debt). The project financing process is progressing well and is expected to be completed to support the timing of FID in Q1 CY2027. Approvals are on Track The Company’s application for an expanded ML for the Project was granted, with the new ML and other existing Mining Leases now covering the entire mining and processing area defined in the PFS. Approvals have already been granted to enable construction of the Bullabulling village and associated wastewater treatment infrastructure, as well as the installation and construction of other water infrastructure (Figure 2). All remaining documents for the approvals required ahead of construction have been submitted, with applications currently under assessment. All primary approvals are being progressed under the Western Australia State Pathway and t he entire Mineral Resource lies within granted Mining Leases, providing the Project with streamlined permitting.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 3 Village Construction is Well Advanced Construction of the Bullabulling village commenced in May 2026. Manufacturing of all central facilities is complete, and delivery, placement and complexing of central facilities is underway (Figures 3 & 4). The manufacture of an additional 200 rooms was approved by the Board during the quarter. The expanded village is intended to support the expected workforce for construction activities and the long-term operational workforce. The Company has received permission to name the village “ Champions Rest”, in recognition of a prominent family within the Marlinyu Ghoorlie Native Title Applicant group (Figure 5). Within Champions Rest, an area called “Brian’s Garden”, named after Marlinyu Ghoorlie Elder Brian Champion, will contain native plant species and recognise Brian’s and the Marlinyu Ghoorlie’s strong connection to the area. The Company thanks Brian, his family and the Marlinyu Ghoorlie for their ongoing positive support of the Project. Central facilities and accommodation units are expected to be operational in Q1 CY2027. Water Exploration and Infrastructure is Advancing Water exploration and infrastructure installation activities that will support construction and operations are ongoing. A total of 22 bores have been installed across the Project, including the redevelopment of historical bores and new production bores, with pump testing underway across the Project (Figure 6). Initial Grade Control Drilling Completed The initial grade control drilling program at Bullabulling has been completed on 10m × 10m spacing, comprising 320 Reverse Circulation (“RC”) holes for 25,970m across the Phoenix North and South areas. Preliminary analysis of the grade control results, including detailed twin- hole comparisons (39 RC –RC pairs) and broader spatial comparisons, indicates that overall gold grades and mineralised intercepts correlate well with the drilling underpinning the MRE (Figure 7). The improved definition of mineralisation provided by the Grade Control drilling reduces operational risk and improves confidence in the geological model. A second grade control program will commence shortly, with results to support the DFS, ongoing grade control strategy and Resource-to-Reserve evaluation. Drilling Continues to Grow Confidence Infill and extensional drilling completed during the quarter continued to confirm the continuity of mineralisation within the MRE, as well as extensions beyond the MRE boundaries. Drilling continues to focus on the upgrade of Inferred Resources to Indicated, identify opportunities for further resource growth and support production readiness and de- risking. High-grade mineralisation was intersected within the footwall lodes at Phoenix and Bacchus, as well as shallow high- grade mineralisation at Phoenix, including 7m @ 10.9g/t Au from 7m (refer to 13 October 2026 ASX announcement for further information). The high-grade intercepts returned in BBRD0538 (1.1m @ 290g/t Au) and BBRD0546 (1m @ 35.8g/t Au) (Figure 8) highlight the presence of higher-grade zones within the broader mineralised system at Bacchus. Additional drilling is planned to assess the geometry and continuity of these higher-grade zones and their potential materiality to the MRE. Acquisition of Regional Tenements During the quarter, Minerals 260 acquired 367km 2 of tenure that is largely contiguous with the Bullabulling Gold Project (Figure 9). As a result, the total Project area has increased to 1,527km2, representing a significant expansion from the initial 130km 2 acquired by Minerals 260 in April 2025, with the Company now controlling the largest and most prospective areas for gold mineralisation along the Bullabulling fault.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 4 Indicative Development Plan Figure 1: Bullabulling Gold Project Indicative Development Plan Figure 2: Key Approvals received and under assessment
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 5 Figure 3: Village construction progress – aerial view Figure 4: Village construction progress – gymnasium, administration building and social hub
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 6 Figure 5: Conceptual design of Village name sign Figure 6: Southern Borefield – water bore pump testing
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 7 Figure 7: Section 6568350N showing mineralisation reported in grade-control drilling testing the Phoenix MRE pit shell compared with MRE Block Model (new results in purple boxes) Figure 8: Section 6566330N showing mineralisation in BBRD0538 infilling Bacchus MRE pit shell (new results in purple boxes)
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 8 Figure 9: Recently acquired tenements (highlighted in red) at the Bullabulling Gold Project
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 9 Moora Copper-Gold-PGE Project, Western Australia (Minerals 260: 100%) No activities were completed during the quarter. Tenement Schedules In accordance with ASX Listing Rule 5.3, refer to Appendix 1 for a listing of tenements. Corporate Cash and Expenditure The Company had total cash and short -term deposits of approximately $530 million at 30 September 2026, comprising $468 million in cash and cash equivalents and $62 million in short-term deposits with maturities greater than three months. Subsequent to the end of the quarter, the Company received $1.98 million under the Share Purchase Plan (“SPP”) completed on 23 October 2026. Tranche 2 of the Placement, to raise approximately $71.1 million before costs, remains subject to shareholder approval at the Company’s General Meeting to be held on 30 October 2026. Including these amounts, the Company’s pro forma cash balance is approximately $600 million. Key cash movements for the quarter were as follows: Operating Activities Net cash outflows from operating activities totalled $3.8m, comprising: • Payments of $20.3m for exploration and evaluation activities at Bullabulling, including: • exploration drilling; • grade control drilling; • diamond sectional drilling; • auger drilling; • geophysical surveys; • water exploration and bore testing; and • DFS activities, including metallurgical testwork, environmental and heritage surveys, geotechnical assessments and engineering design; • Payments for administration, corporate and staff costs of $3.2m; • Receipt of $17.0m of GST in September 2026 in connection with the Franco- Nevada royalty funding. This amount was subsequently remitted to the ATO in October 2026; • Payments of $1.1m of GST on transaction costs associated with Tranche 1 of the Placement and purchases of property, plant and equipment; and • Interest received of $3.7m. Investing Activities Net cash inflows from investing activities totalled $33.1m, comprising: • Payments for the acquisition of tenements near Bullabulling of $0.3m, including duty; • Payments of $19.1m for property, plant and equipment, primarily relating to construction of the accommodation village; • Proceeds of $52.5m received on maturity of term deposits with original maturities greater than three months; and • Receipts of $0.1m from the return of security deposits.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 10 Financing Activities Net cash inflows from financing activities totalled $342.1m, comprising: • Proceeds from Tranche 1 of the placement of $178.9m; • Proceeds from the Franco-Nevada royalty funding of $170.0m; • Payments of $6.6m for share issue transaction costs associated with the Placement; and • Lease payments of $0.2m. Additional Information – ASX Listing Rule 5.3.4 The following table provides the final comparison of the use of funds set out in the Minerals 260 Prospectus dated 28 February 2025 against actual expenditure since re-admission to the ASX on 10 April 2025: Use of Funds Estimated Use of Funds as per Prospectus ($m) Actual Use Since Readmission to ASX($m) Variance Under/(Over) ($m) Acquisition - Cash Consideration 156.4 154.4 2.0 Exploration expenditure - Bullabulling Project 33.5 53.0 (19.5) Exploration expenditure - Other Projects 1.5 0.4 1.1 Costs of the Acquisition 3.0 2.7 0.3 Stamp Duty costs of the Acquisition 8.6 - 8.6 Costs of the Public Offer 9.7 9.3 0.4 Working Capital and General Corporate Purposes 16.5 9.4 7.1 Total 229.2 229.2 - Use of funds material variances are attributed to: • The cash consideration paid on completion of the Project acquisition (“Acquisition”) is $2.0m less than disclosed in the Prospectus due to the completion payment at settlement being reduced by the $2.0m deposit paid in the March 2025 quarter; • The final stamp duty assessment for the Acquisition is yet to be received. The stamp duty payable is estimated to be approximately $8.6m; and • Exploration expenditure has exceeded the amount contemplated in the Prospectus, reflecting the expansion of exploration and project development activities to accelerate advancement of the Project . Payments to Related Parties of the Entity Payments to related parties and their associates during the quarter totalled $ 398k, as disclosed in sections 6.1 and 6.2 of the attached Appendix 5B. These payments comprised remuneration and FY2026 short -term incentives paid to the Managing Director, and Non-Executive Director fees, including superannuation. Share Capital Fully Paid Ordinary Shares During the quarter: • 1,321,003 fully paid ordinary shares were issued to Kalgoorlie Mining Associates Pty Ltd as partial consideration for the acquisition of tenements near Bullabulling, valued at $1.0m based on an issue price of $0.757 per share; and • 203,291,499 fully paid ordinary shares were issued under Tranche 1 of the Placement at $0.88 per share, raising approximately $178.9m before costs. At 30 September 2026, the Company had 2,475,216,089 fully paid ordinary shares on issue, including 111,111,111 shares subject to a 12- month voluntary escrow period until 26 February 2027 and a subsequent 12- month orderly market restriction.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 11 Unlisted Options During the quarter, no unlisted options were issued, expired or exercised. At 30 September 2026, the Company had 37.4 million unlisted options on issue, including 21.75 million unlisted options subject to restriction until 10 April 2027 pursuant to the ASX Listing Rules. Performance Rights During the quarter, no performance rights were issued, expired or exercised. At 30 September 2026, the Company had 2,654,318 FY2026 STI Performance Rights and 4,938,222 FY2026 LTI Performance Rights on issue. This announcement has been authorised for release by the Board of Minerals 260 Limited. Investors: Joshua Hain General Manager Investor Relations T: +61 8 6556 6020 jhain@minerals260.com.au Media: Nicholas Read Read Corporate T: +61 8 9388 1474 nicholas@readcorporate.com.au Bullabulling Gold Project Overview Bullabulling Gold Project is a potential open pit mining operation located 25km south- west of Coolgardie in the Eastern Goldfields region of Western Australia. The Project hosts a JORC 2012 Mineral Resource Estimate of 190Mt @ 1.0g/t Au for 6.2Moz of gold, on granted mining leases (Table 1). Table 1 - Bullabulling Mineral Resource Estimate as of July 2026 by deposit Deposit Indicated Inferred Total Resource Tonnes (Mt) Grade Au (g/t) Metal Au (koz) Tonnes (Mt) Grade Au (g/t) Metal Au (koz) Tonnes (Mt) Grade Au (g/t) Metal Au (koz) Dicksons 17 0.93 500 5.5 0.94 170 22 0.93 660 Phoenix 62 0.94 1,900 12 1.0 390 74 0.95 2,300 Bacchus 55 1.0 1,800 17 1.1 580 72 1.0 2,400 Kraken 4.8 1.1 170 11 1.1 370 16 1.1 540 Gibraltar 2.3 1.0 77 6.2 1.1 220 8.5 1.1 290 Total 140 0.98 4,400 51 1.0 1,700 190 1.0 6,200 Notes for Table 1: 1. Mineral Resources reported above a cut-off grade of 0.35 g/t Au inside a A$5,250/oz pit shell. 2. Numerical differences occur due to rounding to two significant figures to reflect the relative uncertainty of a mineral resource estimate. 3. Effective reporting date: 8 July 2026. 4. Mineral Resources reported include the Project's maiden Ore Reserves. Competent Person Statements Exploration Results The information in this Report that relates to previously reported Exploration Results for the Bullabulling Gold Project is extracted from the following Minerals 260 Limited ASX announcements: • “ Next Phase of Exploration at Bullabulling Gold Project” – 3 August 2026. • “ Drilling at Bullabulling Continues to Deliver Strong Results” – 20 August 2026. • “ Grade Control Drilling Strengthens Bullabulling Resource” – 13 October 2026. These announcements are available to view on the Company’s website at www.minerals260.com.au.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 12 The Company confirms that it is not aware of any new information or data that materially affects the information that relates to the Exploration Results included in the original market announcement s. 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. Mineral Resources The information in this Report that relates to the July 2026 Mineral Resource Estimate for the Bullabulling Gold Project is extracted from the Minerals 260 Limited ASX announcement titled “Bullabulling Resource Increases to 6.2Moz” dated 8 July 2026. The announcement is available at www.minerals260.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the previous announcement continue to apply and have not materially changed. Important Notes Production Targets This Report includes production targets and forecast financial information derived from production targets. The production targets and forecast financial information are extracted from the Company’s ASX announcement dated 8 July 2026, titled “Bullabulling PFS Confirm s High-Margin, Large-Scale Gold Mine” (PFS Announcement), which is available on the Company’s website www.minerals260.com.au The Company confirms that all material assumptions underpinning the production targets, and the forecast financial information derived from those production targets, in the original ASX announcement continue to apply and have not materially changed. Cautionary Statement The PFS outcomes referred to in this Report assumes construction of a Stage 1 processing plant which has been designed and costed to support a 5Mtpa mining and processing operation. As such, all forecasted production and financial information presented in the PFS is based on the Company's anticipation of mining operations at that level of capacity. In addition, while the PFS considers some components being designed and constructed in Stage 1 with a 7.5Mtpa nameplate capac ity, any potential future expansion of the Project's production capability is theoretical or conceptual only. The Company has not undertaken or completed sufficient work to determine whether any potential expansion of production outcomes detailed in the Pre-Feasibility Study referred to in this Report could be achievable or realised in the future. Minerals 260 does not have reasonable grounds to determine that a potential expansion of the Project's operations are economically or technically viable. Any potential future expansion of operations beyond 5Mtpa would be subject to positive outcomes being reached under an expansion study. See the Company's indicative development timeline for further details as to its present estimation of commencement of such studies. There can be no guarantee by the Company that such expansion studies will result in the determination of the economic viabili ty with respect to any potential future expansion of the Project, including the aspirational statement referred to above. Forward Looking Statements This Report may contain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters that may involve risks or uncertainties and may involve significant items of subjective judgement and assumptions of future events that may or may not eventuate (Forward Statements). Forward Statements can generally be identified by the use of forward-looking words such as “aiming”, "anticipates", "estimates", "will", "should", "could", “currently”, "may", "expects", "plans", "forecast", "target" or similar expressions. Forward Statements including references to updating or upgrading mineral resource estimates, future or near-term production and the general prospectivity of the deposits at the Bullabulling Gold Project (Project), likelihood of permitting the Project and taking a final investment decision, among other indications, guidance or outlook on future revenues, distributions or financial position and performance or return or growth in underlying investments are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. In addition, these Forward Statements are based upon certain assumptions and other important factors that, if untrue, could materially affect the future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company’s forward- looking information is based include, without limitation, assumptions regarding the exploration and development activities, receipt of timely approvals and permits, ability to obtain timely finance on reasonable terms when required in the future and contracting for development, construction and commissioning of any future mining operation on terms favourable to the Company, the current and future social, economic and political conditions and any other assumpt ion generally associated with the mining industry. To the extent that certain statements contained in this Report may constitute 'Forward Statements' or statements about forward looking matters, then the information reflects the Company's (and no other party's) intent, belief or expectations as at the date of this Report. No independent third party has reviewed the reasonableness of any such statements or assumptions. None of the Company, its related bodies corporate and their respective officers, directors, employees, advisers, partners, affiliates and agents (together, the MI6 Parties) represent or warrant that such Forward Statements will be achieved or will prove to be correct or gives any warranty, express or implied, as to the accuracy, completeness, likelihood of achievement or reasonableness of any Forward Statement contained in this Report. Forward Statements are not guarantees of future performance and involve known and unknown risk, uncertainties and other factors, many of which are beyond the control of the Company, and their respective officers, employees, agents and advisors, that may cause actual results to differ materially from those expressed or implied in such statements. Except as required by law or regulation, the Company assumes no obligation to release updates or revisions to Forward Statements to reflect any changes. Recipients should form their own views as to these matters and any assumptions on which any of the Forward Statements are based and not place reliance on such statements.
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 13 APPENDIX 1 The following information is provided in accordance with ASX Listing Rule 5.3 as at 30 September 2026. 1. Listing of tenements held (directly or beneficially): Western Australia – Bullabulling Gold Project Tenement No. Registered Holder Status Nature of Interest E15/1744 Bullabulling Operations Pty Ltd Granted 100% E15/1756 Bullabulling Operations Pty Ltd Granted 100% E15/1760 Bullabulling Operations Pty Ltd Granted 100% E15/1783 Bullabulling Operations Pty Ltd Granted 100% E15/1867 Bullabulling Operations Pty Ltd Granted 100% E15/2111 Minerals 260 Holdings Pty Ltd Granted 100% E15/2112 Minerals 260 Holdings Pty Ltd Granted 100% E15/2113 Minerals 260 Holdings Pty Ltd Granted 100% E15/2114 Minerals 260 Holdings Pty Ltd Granted 100% E15/2117 Minerals 260 Holdings Pty Ltd Granted 100% E15/2118 Minerals 260 Holdings Pty Ltd Granted 100% E15/2150 Bullabulling Operations Pty Ltd Application 100% E15/2156 Bullabulling Operations Pty Ltd Granted 100% E15/2165 Bullabulling Operations Pty Ltd Application 100% E15/2168 Bullabulling Operations Pty Ltd Application 100% E15/2170 Bullabulling Operations Pty Ltd Application 100% E15/2172 Bullabulling Operations Pty Ltd Application 100% E15/2176 Bullabulling Operations Pty Ltd Application 100% E15/2182 Bullabulling Operations Pty Ltd Application 100% E15/2183 Bullabulling Operations Pty Ltd Application 100% E15/2184 Bullabulling Operations Pty Ltd Application 100% E15/2185 Bullabulling Operations Pty Ltd Application 100% E15/2186 Bullabulling Operations Pty Ltd Application 100% E15/2187 Bullabulling Operations Pty Ltd Application 100% P15/6971 Minerals 260 Holdings Pty Ltd Application 100% P15/6972 Minerals 260 Holdings Pty Ltd Application 100% P15/6973 Minerals 260 Holdings Pty Ltd Application 100% E15/1392 Bullabulling Operations Pty Ltd Granted 100% E15/1798 Bullabulling Operations Pty Ltd Granted 100% E15/1831 Bullabulling Operations Pty Ltd Granted 100% E15/1485 Bullabulling Operations Pty Ltd Granted 100% L15/156 Bullabulling Operations Pty Ltd Granted 100% L15/157 Bullabulling Operations Pty Ltd Granted 100% L15/158 Bullabulling Operations Pty Ltd Granted 100% L15/196 Bullabulling Operations Pty Ltd Granted 100% L15/206 Bullabulling Operations Pty Ltd Granted 100% L15/218 Bullabulling Operations Pty Ltd Granted 100% L15/222 Bullabulling Operations Pty Ltd Granted 100% L15/328 Bullabulling Operations Pty Ltd Granted 100% L15/330 Bullabulling Operations Pty Ltd Granted 100% L15/331 Bullabulling Operations Pty Ltd Granted 100% L15/332 Bullabulling Operations Pty Ltd Granted 100% L15/333 Bullabulling Operations Pty Ltd Granted 100% L15/334 Bullabulling Operations Pty Ltd Granted 100% L15/335 Bullabulling Operations Pty Ltd Granted 100% L15/336 Bullabulling Operations Pty Ltd Granted 100% L15/339 Bullabulling Operations Pty Ltd Granted 100% L15/357 Bullabulling Operations Pty Ltd Granted 100% L15/358 Bullabulling Operations Pty Ltd Granted 100% L15/359 Bullabulling Operations Pty Ltd Granted 100% L15/499 Bullabulling Operations Pty Ltd Granted 100% L15/503 Bullabulling Operations Pty Ltd Granted 100% L15/505 Bullabulling Operations Pty Ltd Granted 100% L15/507 Bullabulling Operations Pty Ltd Granted 100%
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 14 Western Australia – Bullabulling Gold Project Tenement No. Registered Holder Status Nature of Interest L15/509 Bullabulling Operations Pty Ltd Granted 100% L15/510 Bullabulling Operations Pty Ltd Application 100% L15/511 Bullabulling Operations Pty Ltd Granted 100% L15/512 Bullabulling Operations Pty Ltd Application 100% L15/513 Bullabulling Operations Pty Ltd Application 100% L15/514 Bullabulling Operations Pty Ltd Application 100% L15/515 Bullabulling Operations Pty Ltd Application 100% L15/516 Bullabulling Operations Pty Ltd Application 100% L15/517 Bullabulling Operations Pty Ltd Application 100% L15/518 Bullabulling Operations Pty Ltd Application 100% L15/519 Bullabulling Operations Pty Ltd Application 100% L15/520 Bullabulling Operations Pty Ltd Application 100% L15/521 Bullabulling Operations Pty Ltd Application 100% L15/522 Bullabulling Operations Pty Ltd Application 100% L15/528 Bullabulling Operations Pty Ltd Application 100% L15/529 Bullabulling Operations Pty Ltd Application 100% L15/530 Bullabulling Operations Pty Ltd Application 100% L15/531 Bullabulling Operations Pty Ltd Application 100% L15/539 Bullabulling Operations Pty Ltd Application 100% M15/483 Bullabulling Operations Pty Ltd Granted 100% M15/503 Bullabulling Operations Pty Ltd Granted 100% M15/529 Bullabulling Operations Pty Ltd Granted 100% M15/1414 Bullabulling Operations Pty Ltd Granted 100% M15/1878 Bullabulling Operations Pty Ltd Granted 100% M15/1879 Bullabulling Operations Pty Ltd Granted 100% M15/1880 Bullabulling Operations Pty Ltd Granted 100% M15/1881 Bullabulling Operations Pty Ltd Granted 100% M15/1939 Bullabulling Operations Pty Ltd Granted 100% P15/6381 Bullabulling Operations Pty Ltd Granted 100% P15/6618 Bullabulling Operations Pty Ltd Granted 100% P15/6762 Bullabulling Operations Pty Ltd Granted 100% P15/6763 Bullabulling Operations Pty Ltd Granted 100% P15/6764 Bullabulling Operations Pty Ltd Granted 100% P15/6769 Bullabulling Operations Pty Ltd Granted 100% P15/6770 Bullabulling Operations Pty Ltd Granted 100% P15/6788 Bullabulling Operations Pty Ltd Granted 100% P15/6789 Bullabulling Operations Pty Ltd Granted 100% P15/6993 Bullabulling Operations Pty Ltd Application 100% P15/7010 Bullabulling Operations Pty Ltd Application 100% P15/7011 Bullabulling Operations Pty Ltd Granted 100% P15/7012 Bullabulling Operations Pty Ltd Granted 100% P15/6427 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6474 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6475 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6476 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6477 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6478 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6479 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6480 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6481 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6482 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6483 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6484 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6485 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6486 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6487 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6488 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6489 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6490 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6491 Belararox Limited Granted 0% (Subject to an Option Agreement)
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 15 Western Australia – Bullabulling Gold Project Tenement No. Registered Holder Status Nature of Interest P15/6492 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6559 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6560 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6561 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6562 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6563 Belararox Limited Granted 0% (Subject to an Option Agreement) P15/6564 Belararox Limited Granted 0% (Subject to an Option Agreement) E15/1561 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/1569 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/1591 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/1606 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/1607 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) M15/467 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) M15/1083 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/2087 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/2107 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6930 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6931 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6932 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6933 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6934 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6935 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6936 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6937 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) P15/6938 Bullabulling Operations No. 2 Pty Ltd Granted 80% (Subject to a JV Agreement) E15/1612 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/59 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/549 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/826 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/901 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/1035 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/1260 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/1454 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/1791 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) M15/1807 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6363 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6375 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6376 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6877 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6939 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6940 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) P15/6941 Bullabulling Operations No. 2 Pty Ltd Granted 60% (Subject to a JV Agreement) Western Australia – Moora Project Tenement No. Registered Holder Status Nature of Interest E70/5217 ERL (Aust) Pty Ltd Granted 100% E70/5286 ERL (Aust) Pty Ltd Granted 100% E70/6621 ERL (Aust) Pty Ltd Granted 100%
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ASX RELEASE I 27 OCTOBER 2026 I ASX:MI6 Page | 16 2. Listing of tenements acquired (directly or beneficially) during the quarter: Western Australia – Bullabulling Gold Project Tenement No. Registered Holder Status Nature of Interest P15/6769 Bullabulling Operations Pty Ltd Granted 100% P15/6770 Bullabulling Operations Pty Ltd Granted 100% E15/1744 Bullabulling Operations Pty Ltd Granted 100% E15/1756 Bullabulling Operations Pty Ltd Granted 100% E15/1760 Bullabulling Operations Pty Ltd Granted 100% E15/1783 Bullabulling Operations Pty Ltd Granted 100% E15/1867 Bullabulling Operations Pty Ltd Granted 100% 3. Tenements relinquished, reduced or lapsed (directly or beneficially) during the quarter: Western Australia – Bullabulling Gold Project Tenement No. Registered Holder Status Nature of Interest G15/30 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/31 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/32 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/33 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/34 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/35 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/36 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/37 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/38 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/39 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/40 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/41 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/42 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/44 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/45 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/47 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil G15/49 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil M15/282 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil M15/552 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil M15/554 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil P15/6208 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil P15/6209 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil P15/6210 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil P15/6211 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil P15/6212 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil P15/6213 Bullabulling Operations Pty Ltd Converted to M15/1939 Nil 4. Listing of tenements applied for (directly or beneficially) during the quarter: None.
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Page | 17 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity MINERALS 260 LIMITED ABN Quarter ended (“current quarter”) 34 650 766 911 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 57 57 1.1 Receipts from customers 1.2 Payments for (20,267) (20,267) (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (1,922) (1,922) (e) administration and corporate costs (1,263) (1,263) 1.3 Dividends received (see note 3) - - 1.4 Interest received 3,729 3,729 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other – GST received in relation to investing and financing activities – GST paid in relation to investing and financing activities 17,024 (1,127) 17,024 (1,127) 1.9 Net cash used in operating activities (3,769) (3,769) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements (347) (347) (c) property, plant and equipment (19,098) (19,098) (d) exploration & evaluation - - (e) investments - - (f) other non-current assets - -
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Page | 18 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 - - (d) investments 52,500 * 52,500 * (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) – received in relation to security deposits 80 80 2.6 Net cash from investing activities 33,135 33,135 3. Cash flows from financing activities 178,897 178,897 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 (6,569) (6,569) 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 payments – Royalty funding received (204) 170,000 (204) 170,000 3.10 Net cash from financing activities 342,124 342,124 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 96,281 96,281 4.2 Net cash from / (used in) operating activities (item 1.9 above) (3,769) (3,769) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 33,135 33,135 4.4 Net cash from / (used in) financing activities (item 3.10 above) 342,124 342,124 4.5 Effect of movement in exchange rates on cash held - - 4.6 Cash and cash equivalents at end of period 467,771* 467,771* * Minerals 260 had total cash and short- term deposits of approximately $ 530 million at 30 September 2026, comprising $468 million in cash and cash equivalents and $62 million in term deposits with maturities greater than three months.
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Page | 19 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 370,271 21,281 5.2 Call deposits 97,500 75,000 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) 467,771* 96,281 * Minerals 260 had total cash and short-term deposits of approximately $530 million at 30 September 2026, comprising $468 million in cash and cash equivalents and $ 62 million in term deposits with maturities greater than three months. 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 1 398 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. N/A.
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Page | 20 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (3,769) 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) (3,769) 8.4 Cash and cash equivalents at quarter end (item 4.6)1 467,771 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 467,771 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 124.1 Note: if the entity has reported positive relevant outgoings ( i.e. 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. 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: Board of Minerals 260 Limited Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entit y’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that w ishes 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, the 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 – e.g. 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.