Gold Hydrogen (GHY) Status Update summary

Exploration results and resource potential

• Hydrogen purity levels reached up to 98.5% in phase I well testing, with consistent high purities from shallow zones and significant helium results also observed.

• Laboratory and interim testing confirmed hydrogen purity up to 95.8% and helium purity of 20%-25% in a non-petroleum system, considered a world first.

• Early 2D seismic and historical data suggest a regional play across a 7,400–7,500 sq km permit area, indicating extensive resource potential.

• A 180m thick helium pay zone was identified, with high purity and potential for near-term commercial extraction.

• Testing in Ramsay 2 identified helium zones in granite and dolomite, with hydrogen zones in limestone, showing up to 42% hydrogen in downhole samples.

Resource estimates and technical data

• Best estimates indicate 1.3 billion kg of natural hydrogen and 41 BCF of helium in a portion of the block.

• Prospective resources for hydrogen in PEL 687 estimated at up to 8,820,000 tonnes (high case).

• Prospective helium resources in the same area estimated at up to 205 Bcf (high case).

Operational progress and development plans

• End of quarter funds totaled AUD 15.6 million, with additional R&D credits expected later in the year.

• Plans include drilling two to three more wells by year-end or early next year, with further drilling to advance towards pilot projects and proof of concept.

• Dewatering processes are providing valuable data on system dynamics, with high salinity formation water supporting hydrogen generation.

• Seismic survey acquisition phase completed, providing data for future well targeting and regional exploration.

• Ongoing testing will inform future drilling, pilot programs, and commercialisation strategies.