Announcement PDF Registered Offices – Trek Metals Limited – ARBN 124 462 826 Australia Suite 5/2 Centro Avenue Subiaco Western Australia 6008 Bermuda Vallis Building, 4th Floor 58 Par-la-Ville Road Hamilton HM 11 Postal PO Box 1696 Subiaco WA 6904 Phone 08 6383 7844 Email info@trekmetals.com.au 23 September 2026 Phase 1 Drilling Confirms Shallow, High-Grade Manganese System at Kuro Final assays from Phase 1 Kuro drilling include 7m @ 32.3% Mn and 3m @ 41.1% Mn, with 38 of 72 Phase 1 holes returning significant manganese intercepts Highlights • Phase 1 drilling has outlined a shallow high-grade manganese system at Kuro, within the 100%- owned Christmas Creek Project in WA, with 38 of 72 holes returning significant manganese intercepts above 5% Mn, including 19 holes with intercepts above 20% Mn. • All significant intercepts occur between surface and just 37m down-hole, with multiple additional results building on those previously released, including: o 7m @ 32.3% Mn from 8m in 26XCRC065, within  15m @ 20.5% Mn from 6m o 5m @ 34.6% Mn from 11m in 26XCRC051, within  14m @ 19.5% Mn from 10m o 3m @ 41.1% Mn from 13m in 26XCRC064, within  6m @ 27.5% Mn from 12m o 3m @ 29.0% Mn from 15m in 26XCRC059, within  12m @ 17.6% Mn from 8m o 2m @ 40.1% Mn from 9m in 26XCRC058, within  8m @ 19.8% Mn from 8m • Phase 2 drilling program has now been completed, testing newly generated IP anomalies surrounding the discovery area, with assays expected over the next 6-8 weeks. • Exploration is now expanding beyond the Kuro discovery area, with ground reconnaissance underway across Trek’s under-explored Christmas Creek land-holding. • At Leviathan, IP surveying has identified a bedrock chargeability anomaly near a manganese- rich rock chip and a radiometric anomaly with similarities to the Kuro discovery signature. • New high-resolution magnetic and radiometric data are being processed to refine basin architecture and generate additional targets for follow-up. Trek Metals Limited (ASX: TKM) (“Trek” or the “Company”) is pleased to report further shallow, high- grade manganese results from the third and final batch of assays from its maiden ‘Phase 1’ Reverse Circulation (RC) drilling program at the Kuro prospect part of its 100%-owned Christmas Creek Project in Western Australia. 2 The final batch of Phase 1 assays completed a highly encouraging maiden drilling program at Kuro, with 38 of 72 holes returning significant manganese intercepts above 5% Mn, including 19 holes with intercepts averaging above 20% Mn. Table 1. Significant intercept table of laboratory assays for 26XCRC051 – 26XCRC072, using a 5% Mn lower cut-off for broad intercepts and a 20% Mn lower cut-off for high-grade sub-intervals (including) with a minimum width of 2m and a maximum internal dilution of 2m. Widths reported are down-hole as true widths are not known. Manganese (Mn) Metres are Width (m) x Mn%. Individual assay values and composite grades have been rounded for presentation. Hole ID From (m) To (m) Width (m) Mn (%) Mn Metres (m x %) Significant Intercept 26XCRC051 10 24 14 19.5 273.2 14m @ 19.5% Mn from 10m including 11 16 5 34.6 173 incl. 5m @ 34.6% Mn from 11m 26XCRC057 14 16 2 6.2 12.5 2m @ 6.2% Mn from 14m 26XCRC058 8 16 8 19.8 158.7 8m @ 19.8% Mn from 8m including 9 11 2 40.1 80.1 incl. 2m @ 40.1% Mn from 9m 26XCRC059 8 20 12 17.6 211.1 12m @ 17.6% Mn from 8m including 8 10 2 27.3 54.7 incl. 2m @ 27.3% Mn from 8m and 15 18 3 29 86.9 incl. 3m @ 29.0% Mn from 15m 26XCRC060 7 13 6 9.1 54.4 6m @ 9.1% Mn from 7m 26XCRC060 16 18 2 20.2 40.4 2m @ 20.2% Mn from 16m 26XCRC061 11 13 2 6.8 13.7 2m @ 6.8% Mn from 11m 26XCRC063 6 8 2 5.8 11.7 2m @ 5.8% Mn from 6m 26XCRC064 3 6 3 27.8 83.4 3m @ 27.8% Mn from 3m including 4 6 2 32.4 64.9 incl. 2m @ 32.4% Mn from 4m 26XCRC064 12 18 6 27.5 165 6m @ 27.5% Mn from 12m including 13 16 3 41.1 123.2 incl. 3m @ 41.1% Mn from 13m 26XCRC065 6 21 15 20.5 308.1 15m @ 20.5% Mn from 6m including 8 15 7 32.3 226.2 incl. 7m @ 32.3% Mn from 8m 26XCRC066 10 12 2 7.8 15.5 2m @ 7.8% Mn from 10m No significant intercepts (≥5% Mn over ≥2m) in 26XCRC052-056, 062 and 067-072. The latest results include a standout intercept from drill-hole 26XCRC065 of 15m @ 20.5% Mn from 6m, including 7m at 32.3% Mn from 8m with a peak one-metre assay of 55.1% Mn. Holes 26XCRC058 and 064 returned very high-grade intervals of 2m @ 40.1% Mn from 9m and 3m @ 41.1% Mn from 13m respectively. Significant intercepts are reported in Table 1 and Figures 1-4 below. The mineralisation intersected to date remains shallow, with all significant intercepts (Table 1 & Figures 1-4) occurring between surface and 37m down-hole. The interpreted mineralised geometry trends from surface in the north-west and deepens progressively towards the south-east. 3 Figure 1. Plan view of Kuro, Gradient Array Induced Polarisation (GAIP) Chargeability anomalism full-colour background with contour lines (white-red hot indicative of highly chargeable zones), manganese outcrop as grey polygons with black outlines, Reverse Circulation drill-holes with hole ID and significant laboratory assay results in callouts and coloured dots. Trek Metals CEO, Derek Marshall, said: “The final batch of drill assays from Phase 1 provide further evidence that Kuro is a significant shallow, high-grade manganese discovery. We are now looking forward to receiving the results from Phase 2, which targeted newly generated Induced Polarisation (IP) geophysical anomalies within an area surrounding the Phase 1 drill area. “With Phase 1 and 2 drilling now complete, our focus shifts to unlocking the broader potential of Christmas Creek, with field crews moving onto a much larger area to identify areas of interest for additional exploration. Not only do we have the local interpreted 30km prospective basin to explore, but we are also commencing regional exploration programs across a highly prospective district that has not previously been recognised as a potential manganese province. “To help us more accurately define the local basin architecture, we recently completed a high- resolution fixed-wing magnetic survey. In addition to magnetics, the aeroplane also collected radiometric data, which was critical in the initial discovery of Kuro. The data from this survey is currently being processed and will assist in our ongoing exploration efforts. “The team is also keen to get back out on the ground at Leviathan, where recent IP surveying identified a bedrock chargeability anomaly. Prior to the IP survey Trek’s geological field team collected a manganese-rich rock chip in the vicinity while ground-truthing a similar radiometric anomaly to Kuro. “We have a large volume of drill samples at the laboratory, including for the Coogan copper-gold prospect, numerous regional targets and the Phase 2 Kuro samples enroute to the laboratory shortly.” 4 Figure 2. Long Section Line 1, along the main (southern) chargeability anomaly along strike from the main manganese outcrop, showing interpreted geology and manganese mineralisation in black / grey. Previously released laboratory significant intercepts as downhole bars and individual callouts (refer Table 2 for links to previous announcements). Cross- section Line 1 location also shown. Long section line location shown in Figure 1. 5 Figure 3. Long Section Line 2, along the northern chargeability anomaly, showing interpreted geology with manganese mineralisation in black / grey. New and previously released laboratory significant intercepts as downhole bars and individual callouts (refer Tables 1 & 2). Cross-section Line 1 location shown. Long section line location shown in Figure 1. Figure 4. Cross-Section Line linking the two Long Sections (Figure 2 & Figure 3) showing interpreted geology with manganese mineralisation in black /grey. New and previously released laboratory significant intercepts as downhole bars and individual callouts (refer Tables 1 & 2). Long-section Lines 1 and 2 locations also shown. Cross section line location shown in Figure 1. 6 The field crew has commenced local reconnaissance across the interpreted prospective basin (Figure 5) with the aim of identifying additional manganese target areas. The recently completed airborne magnetic and radiometric data will also assist in determining areas for follow-up within the interpreted ~30km long prospective basin at Christmas Creek. Figure 5. Preliminary Merged Residual Gravity imagery showing an interpreted ~30km long prospective Neoproterozoic basin hosting the Kuro manganese discovery outlined in white, highlighting the interpreted basin boundary and target stratigraphy within, the existing Kuro IP and drill area in grey polygon and the recently completed gradient array IP extension survey areas. The recently completed ground-based Induced Polarisation survey at Leviathan has identified a large discrete chargeability anomaly (Figure 6) that appears to correlate to an outcropping sedimentary unit within the Ruby Plains Group. First-pass rock chips indicate that there is some anomalous manganese mineralisation associated with this formation (Table 4 & Figure 6), however additional field work is required followed by a heritage survey to properly evaluate this target. The results provide encouragement that additional untested IP anomalies may be present throughout the interpreted ~30km prospective basin. As part of the local and regional ground investigations that have commenced this week, the team will aim to select prospective areas for additional IP surveying. 7 Figure 6. Plan view of Leviathan, Gradient Array Induced Polarisation (GAIP) Chargeability anomalism shown as full-colour inset with contour lines (white-red hot indicative of highly chargeable zones), background image is gravity (same dataset and display scale as Figure 5) with the interpreted prospective basin boundary and the Leviathan IP chargeability anomaly of interest within. 8 Authorised by the Board of Directors ENDS For further information contact: INVESTORS: MEDIA: Derek Marshall Nicholas Read dmarshall@trekmetals.com.au info@trekmetals.com.au 0419 929 046 JOIN TKM’S INTERACTIVE INVESTOR HUB https://trekmetals.com.au/auth/signup Interact with Trek Metal’s announcements and updates by asking questions and comments which our team can respond to where possible https://trekmetals.com.au/link/epDZLe COMPETENT PERSONS STATEMENT The information in this report relating to Exploration Results is based on information compiled by the Company’s Chief Executive Officer, Mr Derek Marshall, a Competent Person, and Member of the Australian Institute of Geoscientists (AIG). Mr Marshall has sufficient experience relevant to the style of mineralisation and to the type of activity described to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Marshall has disclosed that he holds fully paid Ordinary Shares and Performance Rights in the Company. Mr Marshall consents to the inclusion in this announcement of the matters based on his information in the form and content in which it appears. Cautionary Statement: This announcement reports Exploration Results only. No Mineral Resource has been estimated for the Kuro Prospect and insufficient exploration has been completed to estimate a Mineral Resource. Further drilling and evaluation is required, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource. DISCLAIMERS AND FORWARD-LOOKING STATEMENTS This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by words such as "seek", “target”, "anticipate", “forecast”, "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Trek and the industry in which it operates. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Trek is no guarantee of future performance. None of Trek’s directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward- looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward- looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement. 9 Table 2. Specific Exploration results referred to in this report were originally reported in the following Company announcements. Title Date Outstanding High-Grade Assays Confirm Significant Shallow Manganese Discovery at Kuro https://trekmetals.com.au/announcements/7724003 8 September 2026 Additional Drilling Planned at the Kuro Manganese Discovery Targeting High-Priority IP Anomalies https://trekmetals.com.au/announcements/7689981 19 August 2026 First Drill Assays Confirm High-Grade Manganese at Kuro https://trekmetals.com.au/announcements/7669969 6 August 2026 IP Drilling Validates Concealed Manganese Targeting at Kuro https://trekmetals.com.au/announcements/7646589 23 July 2026 Drilling Continues to Intersect Mineralisation at Kuro https://trekmetals.com.au/announcements/7618301 6 July 2026 Multiple Mineralised Zones Intersected at Kuro https://trekmetals.com.au/announcements/7604907 29 June 2026 Kuro IP Survey planned, RC Drill contract and assay results https://trekmetals.com.au/announcements/7467887 30 March 2026 Petrophysics Confirms Geophysical Response from Kuro Rock Chips, IP Survey Planned and RC Drill Contract Awarded https://trekmetals.com.au/announcements/7457333 23 March 2026 Outstanding New High-Grade Manganese Rock Chip Results at the Kuro Prospect - Christmas Creek Project, WA https://trekmetals.com.au/announcements/7326226 19 January 2026 High-Grade Manganese Discovery at Christmas Creek Strengthened by Extensive, Strong Gravity Anomalies https://trekmetals.com.au/announcements/7311646 15 December 2025 Trek to accelerate exploration at new High-Grade Manganese Discovery at Christmas Creek Project, WA https://trekmetals.com.au/announcements/7263873 17 November 2025 Exceptionally High-Grade Manganese Discovery at Christmas Creek Project, WA https://trekmetals.com.au/announcements/7259499 13 November 2025 Discovery focused drilling gains momentum on several fronts https://trekmetals.com.au/announcements/7075982 29 July 2025 The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcements and that all material assumptions and technical parameters underpinning the exploration results continue to apply and have not materially changed. 10 Table 3. Collar Table relating to holes which samples comprised Batch 3 being reported from 2026 Reverse Circulation drilling at the Christmas Creek Project, listing holes 26XCRC051 – 26XCRC072, co-ordinates listed are grid MGA2020 Z52. Hole ID Type Depth North East RL Dip Azi Lease ID Prospect 26XCRC051 RC 90 7873856 267228 332 -90 0 E80/4975 Kuro 26XCRC052 RC 60 7873903 267254 333 -90 0 E80/4975 Kuro 26XCRC053 RC 90 7873843 267212 332 -90 0 E80/4975 Kuro 26XCRC054 RC 48 7874028 267299 334 -90 0 E80/4975 Kuro 26XCRC055 RC 66 7874046 267275 334 -90 0 E80/4975 Kuro 26XCRC056 RC 48 7874084 267223 334 -90 0 E80/4975 Kuro 26XCRC057 RC 48 7874162 267282 335 -90 0 E80/4975 Kuro 26XCRC058 RC 48 7874176 267270 335 -90 0 E80/4975 Kuro 26XCRC059 RC 48 7874212 267283 334 -90 0 E80/4975 Kuro 26XCRC060 RC 48 7874217 267258 334 -90 0 E80/4975 Kuro 26XCRC061 RC 48 7874246 267254 334 -90 0 E80/4975 Kuro 26XCRC062 RC 36 7874270 267246 334 -90 0 E80/4975 Kuro 26XCRC063 RC 36 7874294 267239 334 -90 0 E80/4975 Kuro 26XCRC064 RC 36 7874307 267234 334 -90 0 E80/4975 Kuro 26XCRC065 RC 36 7874353 267218 334 -90 0 E80/4975 Kuro 26XCRC066 RC 36 7874381 267206 334 -90 0 E80/4975 Kuro 26XCRC067 RC 36 7874406 267196 334 -90 0 E80/4975 Kuro 26XCRC068 RC 36 7874146 267292 335 -90 0 E80/4975 Kuro 26XCRC069 RC 54 7873974 267300 334 -90 0 E80/4975 Kuro 26XCRC070 RC 54 7873936 267281 332 -90 0 E80/4975 Kuro 26XCRC071 RC 54 7873936 267035 332 -90 0 E80/4975 Kuro 26XCRC072 RC 60 7874029 267094 333 -90 0 E80/4975 Kuro Table 4. Rock chip results from the Leviathan Prospect, co-ordinates listed are grid MGA2020 Z52. Sample ID Easting Northing Mn% IV0162732 280445 7876205 0.0080 IV0162733 280477 7876196 0.0175 IV0162734 280478 7876299 0.0081 IV0162735 280507 7876427 0.0574 IV0162736 280496 7876400 0.1215 IV0162737 280496 7876338 0.0396 IV0162738 280509 7876368 0.0259 IV0162741 280410 7876199 0.0074 IV0162742 280371 7876398 0.0033 IV0162743 280347 7876422 0.0086 IV0162744 280496 7876412 0.0979 IV0162745 280505 7876432 0.0353 IV0162746 280538 7876435 2.92 TKMCCR2515 280962 7876753 0.0189 TKMCCR2516 281006 7876704 0.0222 TKMCCR2517 280879 7876755 0.0163 TKMCCR2518 280864 7876843 0.0085 TKMCCR2519 280842 7876816 0.0088 TKMCCR2520 280796 7876804 0.0266 TKMCCR2521 280802 7876777 24.6 11 JORC Table Section 1: Sampling Techniques and Data: Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. • Drilling was undertaken using RC with a face sampling bit. RC cuttings were collected at 1m intervals via a cyclone and cone splitter, producing ~2.4kg (mean 2.43kg and median 2.40kg) samples, with bulk residues retained on site and composite sampled as 4m intervals. • Each hole was sampled over its full length using a two-tier scheme: contiguous 1m rig-split samples over the interval of interest identified from geological logging and visual estimates of manganese abundance, and contiguous 4m composites over the balance of the hole. The 1m sampled interval was selected to extend beyond the logged mineralised zone in both directions. • This announcement reports laboratory assays for 22 holes (26XCRC051 - 072) for 1,116m of drilling. • Samples are freighted for analysis at ALS Perth using: o ME-XRF26s which consists of a Lithium Borate Fusion and X-Ray Fluorescence Spectroscopy analysis. This method is suitable for the determination of major and minor elements in ore samples which require a high dilution digest such as Chromite and high Manganese ores. o Fire assay with AAS finish (Au-AA25, 30g), and o Four-acid digest with ICP-MS (ME-MS61, 48 elements). These are considered industry-standard and appropriate methods. • Field duplicates, certified reference materials and blanks were inserted at a nominal rate of one of each per 50 samples, with laboratory internal checks also applied. All QA/QC results have been reviewed and are within acceptable limits - refer to the Quality of Assay Data and Laboratory Tests section below. Chain of custody was maintained from site to laboratory. • All holes completed have been included in figures within the body of the announcement and all collars relating to holes with new assays in this announcement are listed in tabular formats in Table 3 & significant intercepts in Table 1. • Rock chip samples were collected from outcrop and are selective in nature and are therefore not representative in nature. Drilling techniques • Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc). • Drill testing was undertaken by Reverse Circulation (RC) with face sampling drill bit, drill cuttings are returned to surface via inner tubes in the drill string. • RC drill cuttings were collected at 1m intervals down the length of each hole. Sampling was completed from a gated cyclone over a static cone splitter into a calico bag with an average sample weight of 2.4kg per 1m sample. The remainder of the drill cuttings were collected in green bags and laid out in rows on a sample pad beside the drill rig. • Individual 4m samples were then composited from the green bags as described in a subsequent section. The sampling protocol is common practice for RC drilling and considered appropriate for the stage of exploration. Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential • Reverse Circulation drilling recoveries have been good with consistency between green bag (and calico split) sizes. • Duplicate samples were collected from the rig every 50m, with duplicate pair weights monitored to check the performance of the cyclone and cone splitter. • Sample recovery was consistent across the program with the same 12 Criteria JORC Code explanation Commentary loss/gain of fine/coarse material. drill rig and mostly the same driller operating the drill rig and maintaining constant drilling conditions with the equipment, including monitoring bit wear, air return, and cyclone performance. • A cone splitter was used on the drill rig which theoretically gives an even and impartial split of the sample when operated correctly. Adjustable control gates allow the sample size to be calibrated to suit the ground conditions and target sample size. These measures are best practice in producing representative samples. • There is no observed relationship between sample recovery and observed mineralisation. Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. • Chip trays have been collected for the entire length of each hole, logged, and photographed. • Logging has been completed on all drill chips and is qualitative. • Logging covers the entire drilled length of each hole. Sub-sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • RC cuttings were collected during drilling as described above with the primary bulk sample captured in a green bag and placed in rows of 20 on the ground immediately adjacent the drill rig. • All holes were sampled as a combination of 1m rig splits and 4m composites by the method described below. • From each primary sample pile, material for assay was collected with a ‘Nyglass potting scoop’ by rotary sampling, that is, starting at the outside base of each pile, pushing toward the centre, then drawing up to the peak, this ensures a representative sample is collected. • Field duplicates have been collected at each 50th sample interval to monitor sample size and provide duplicate material for assay analysis and representivity analysis. • The sample size and subsampling method is considered appropriate. Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. • All drill samples were, or are being, analysed by Australian Laboratory Services Pty Ltd (ALS) in Western Australia using: o ME-XRF26s which consists of a Lithium Borate Fusion and X-Ray Fluorescence Spectroscopy analysis. This method is suitable for the determination of major and minor elements in ore samples which require a high dilution digest such as Chromite and high Manganese ores. o Fire assay with AAS finish (Au-AA25, 30g), and o Four-acid digest with ICP-MS (ME-MS61, 48 elements). These are considered industry-standard and appropriate methods • One-metre samples are analysed by ME-XRF26s (lithium borate fusion XRF) with manganese reported as the element converted from MnO and are also analysed by four-acid digest ICP-MS (ME-MS61). Four-metre composite samples were analysed by four-acid digest ICP-MS only, this method being considered fit for purpose for the first- pass screening role the composites perform. • The two methods have been compared on the one-metre samples analysed by both, returning a correlation coefficient of 0.99 with a median four-acid to fusion XRF ratio of 0.96, indicating a small and 13 Criteria JORC Code explanation Commentary systematic low bias in the four-acid result consistent with incomplete digestion of manganese oxides. At the grades returned by the composite samples this bias is immaterial to their screening function. No composite result is reported as an Exploration Result and all intercepts reported in Table 1 are derived exclusively from fusion XRF results on 1m samples. • Certified reference materials (CRMs), field duplicates and blanks were inserted into the sample stream at a nominal rate of one of each per 50 samples. • All CRM results returned within two standard deviations of the certified value, with no systematic high or low bias identified. Blank samples indicated no material contamination or sample carryover during preparation. Field duplicate pairs returned within acceptable correlations. • ALS also inserted its own internal standards, duplicates and blanks, all of which reported within the laboratory's acceptance criteria. Laboratory QC certificates have been reviewed by the Company. • The Competent Person has reviewed all QA/QC results and considers that acceptable levels of accuracy and precision have been established, and that the assay data is of a quality suitable for public reporting of Exploration Results. Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • Manganese is reported as the element, converted from MnO determined by ME-XRF26s using a factor of 0.7745. Iron and phosphorus, where reported as elements, are converted from Fe₂O₃ and P₂O₅ using factors of 0.6994 and 0.4364 respectively. No other adjustments have been applied to the assay data. No top-cuts or grade truncations were applied. • During method validation, manganese was determined on the same samples by both lithium borate fusion XRF and four-acid digest ICP- MS. The two methods returned a correlation coefficient of 0.99, confirming digest completeness and consistency between analytical techniques. Only the fusion XRF result is reported. • Field data is collected and logged into ruggedised Toughbook laptop by the supervising geologist. Field data is routinely checked for accuracy and completeness by the geologist, with further checks once the data is forwarded to the database manager. Any errors or omissions reported by the database manager are verified and corrected by the geologist with the corrected data returned to the database manager for import and safe storage. • Data management consultants compile the data into a relational SQL database, hosted in a secure data centre, which enforces data integrity and ensures that the data meets the required validation protocols. Assay certificates are loaded directly from the laboratory supplied files to the SQL database, to prevent data transcription errors, with routine quality control monitoring to ensure the accurate performance of the assay data. Location of data points •