Warriedar Resources (WA8) Status Update summary

Resource growth and exploration strategy

• Achieved a 58% increase in gold resources, now totaling 1.3 million ounces in WA, driven by doubling the Ricciardo deposit and successful scout drilling in the Golden Corridor, with strong results at Monaco, Saint-Tropez, and Sprite.

• Golden Corridor now hosts 1.21Moz gold in Mineral Resources, with 948koz at Ricciardo following a 99% increase in ounces in 2024.

• Ongoing and planned drilling at Windinne Well, M1, Ricciardo, Sprite, and Bugeye targets further resource growth, with a goal to reach 2 million ounces in the Golden Corridor.

• Aircore and RC drilling programs are planned for both infill and greenfield targets, focusing on cost-effective exploration and maintaining low discovery costs (AUD 16/oz at Ricciardo).

• The company is funded for 2025 exploration, with AUD 10.6 million in cash, enabling proactive and optimal drilling programs.

Antimony opportunity and processing

• Discovered a 1 km long antimony zone at Ardmore, with metallurgical tests showing >80% recovery and 49% concentrate grade.

• A maiden antimony mineral resource estimate (MRE) is expected soon, with assays due mid to late February.

• Processing pathways for gold and antimony are parallel, both requiring flotation, and infrastructure is in place to support both.

• Commercialization scenarios include mining oxide/transitional ore and antimony stockpiles first, optimizing cash flow and development sequencing.

Infrastructure and development plans

• All deposits are on permitted mining leases, connected by haul roads to an existing processing plant, supporting a fast-track development pathway.

• Existing processing plant refurbishment is estimated at AUD 13–20 million, significantly less than a new build.

• Infrastructure-rich region with multiple processing plants and haulage connectivity supports rapid development.

• Updated Ricciardo resource accelerates the development timeline, with every drill hole planned to add minable ounces.