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Valiant Gold ASX ANNOUNCEMENT 27 July 2026 JUNE 2026 QUARTERLY ACTIVITIES REPORT Key Highlights : Comet Project - ▼ Mining services agreement executed – Mako Mining Pty Ltd ( Mako Mining ) appointed and set to commence dewatering and rehabilitation activities at Comet in preparation for mine restart4 Mine engineering and technical studies progressing – in parallel for the Comet underground to develop an initial Life of Mine design ( LOM ) to underpin operational restart . Reedy Project A First assays received from South Emu - Triton diamond drilling , highlights include : • 34.2m @ 2.97g / t Au from 1,007.9m ; incl . 3.6m @ 15.55g / t Au ( 26REDD001_W5 ) • 20.1m @ 1.92g / t Au from 917.7m ; incl . 6.0m @ 3.96g / t Au ( 26REDD001_W1 ) . Results confirm the extension of the mineralised Reedy Shear ~ 400m below the existing Mineral Resource highlighting significant near - term resource growth potential and scale of the system . Drilling ongoing , with further assay results expected within 4-6 weeks . ▼ Planning underway for mobilisation of a second drill rig to high - priority resource target identified at the Boomerang Gold Deposit , which hosts an existing Mineral Resource Estimate ( MRE ) of 5.26Mt @ 2.17g / t Au for 367koz of gold¹ . Corporate ་ Total cash and term deposits balance at the end of the quarter was A $ 67.7M . ▼ Key technical and operational personnel secured several strategic hires made to build out the Company's capability to deliver its growth and development objectives . Management Comments " This quarter , Valiant made strong progress across its restart and growth strategy . At Comet , dewatering and rehabilitation activities are underway , supported by ongoing technical studies for the mine restart . At Reedy , our maiden diamond drilling has delivered encouraging results , confirming that the Reedy mineralisation extends well below the current Resource and remains open . With a strong cash position and a strengthened team , we are well positioned to advance our Murchison gold portfolio and deliver our near- term objectives . " Brendan Tritton , Managing Director & CEO 1 Refer to the Company's Prospectus dated 16 February 2026 , as amended by the Supplementary Prospectus dated 20 February 2026 , ( together , the Prospectus ) for further information regarding the Mineral Resource Estimates . Valiant Gold Limited ( ACN 691 820 532 ) A : Ground Floor , 34 Colin Street West Perth WA 6005 | W : www.valiantgold.com.au ASXVAL