Announcement PDF CONTENTS CORPORATE DIRECTORY .............................................................................................................................................................. 2 REVIEW OF OPERATIONS .............................................................................................................................................................. 3 DIRECTORS’ REPORT .......................................................................................................................................................................19 AUDITORS’ INDEPENDENCE DECLARATION .....................................................................................................................27 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ........... 28 CONSOLIDATED STATEMENT OF FINANCIAL POSITION .......................................................................................... 30 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY .............................................................................................31 CONSOLIDATED STATEMENT OF CASH FLOWS ........................................................................................................... 33 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS .................................................................................... 34 CONSOLIDATED ENTITY DISCLOSURE STATEMENT.................................................................................................... 68 DIRECTORS’ DECLARATION ...................................................................................................................................................... 70 INDEPENDENT AUDITOR’S REPORT......................................................................................................................................... 71 ADDITIONAL SECURITIES EXCHANGE INFORMATION ............................................................................................... 75 CORPORATE DIRECTORY DIRECTORS/MANAGEMENT SHARE REGISTRY Tony Leibowitz Automic John Young Non-Executive Chairman Neil Biddle Derek Marshall Non-Executive Director Non-Executive Director Chief Executive Officer GPO Box 5193 Sydney NSW 2001 AUSTRALIA Tel: +61 2 9698 5414 COMPANY SECRETARY Bermuda Apex Corporate Services Ltd. Vallis Building, 4th Floor 58 Par-la-Ville Road Hamilton HM 11 Bermuda AUDITORS Hall Chadwick WA Audit Pty Ltd 283 Rokeby Road Subiaco WA 6008 Australia (Local Agent and Company Secretary) Russell Hardwick WEBSITE www.trekmetals.com.au REGISTERED OFFICE OF INCORPORATION Trinity Hall 43 Cedar Avenue Hamilton HM 12 BERMUDA REGISTERED OFFICE – AUSTRALIA Suite 5, 2 Centro Avenue Subiaco WA 6008 AUSTRALIA Tel: +61 8 6383 7844 POSTAL ADDRESS P.O Box 8209 Subiaco East WA 6008 AUSTRALIA TREK METALS LIMITED | ANNUAL REPORT 2025 2 REVIEW OF OPERATIONS The year to 31 March 2025 has been a very positive and productive period for Trek Metals Limited (“Trek” or “the Company”), with the Company’s exploration programs delivering a compelling emerging gold discovery at the Christmas Creek Gold Project in the Kimberley region of Western Australia. The Christmas Creek Project, which was acquired by Trek in October 2023, represents a district- scale exploration opportunity, associated with a major continental-scale tectonic lineament intersection. The Project previously formed part of Newmont’s suite of exploration assets, with the tenements thought to represent a potential extension of the prolific Granites-Tanami Orogen, with metasediments in the area showing a correlation to the geological sequences that host Newmont’s globally significant Tanami Gold Mine. As part of its acquisition of the Christmas Creek Project, Trek inherited nearly $6 million of high- quality exploration work and data that was performed to a very high standard by Newmont. Trek completed its maiden drilling program at Christmas Creek during the September 2024 Quarter, with drilling at the Martin Prospect intersecting 10m @ 12.66g/t Au and 10m @ 7.34g/t Au. Down-hole televiewer survey data has since confirmed that these high-grade gold intercepts are related to a series of stacked veins intercepted at close to true width and were not drilled down a vein/structure. Preparations for a pivotal follow-up drilling program at the Christmas Creek Project were underway at the end of the reporting period, with drilling scheduled to commence in early June. Elsewhere within the Company’s project portfolio, discussions with Traditional Owners continued during the year to negotiate access to the McEwen Hills Niobium Project in the Northern Territory. Following a strategic review of the Company’s assets, an Earn-In Agreement was signed during the reporting period with DevEx Resources (ASX: DEV) over the Jimblebar Ni-Cu-PGE Project and an Option Agreement was signed with Advanced Energy Fuels, Inc to divest the South Woodie Woodie (previously Hendeka) Manganese Project. Subsequent to the end of the reporting period, the Company conducted a strongly supported capital raising of $3.5 million (before costs) to accelerate exploration at the Christmas Creek Project and for general working capital. TREK METALS LIMITED | ANNUAL REPORT 2025 3 CHRISTMAS CREEK PROJECT (KIMBERLEY, WESTERN AUSTRALIA) Figure 1: Continental scale context and location map for the Christmas Creek Project, located at the intersection of G3 and G5 metallogenic lineament corridors, potentially representing the intersection of the Granites-Tanami Orogen & the Halls Creek Orogen. Located south-west of Halls Creek, the Christmas Creek Project comprises a previously unexplored, largely concealed district-scale gold and rare earths exploration opportunity in the Kimberley region of WA associated with major continental-scale tectonic lineament intersections (Figure 1). Trek completed the acquisition of the Christmas Creek Project, which was previously part of Newmont Exploration Pty Ltd’s (Newmont) global exploration portfolio, in the December 2023 Quarter. The Company has also secured additional tenement applications to add to this district-scale greenfields gold and rare earths exploration project. During the reporting period, Trek completed an 8,437m Reverse Circulation (RC) drilling program at Christmas Creek targeting gold and rare earths mineralisation. The program focused on four gold prospects – Martin, Coogan, Zahn and Willis – which were identified through the integration and analysis of legacy exploration data, re-processing of geophysical datasets, and the completion of a targeted soil sampling campaign. TREK METALS LIMITED | ANNUAL REPORT 2025 4 Martin Historical drilling at the Martin Prospect initially targeted a very large, 4km diameter gold-in- soil anomaly under thin cover. Exploration at Martin by previous owner, Newmont, was restricted to Air-core (AC) drilling and three Reverse Circulation (RC) sections in the central part of the soil anomaly. Significant mineralisation was intersected on each RC section, including 7m at 4.9g/t Au (including 1m at 29.6g/t Au) from 24m in hole NEWXCAC196, 2m @ 9.65g/t Au from 72m in NEWXCRC012 and 4m @ 1.22g/t from 8m and 3m @ 2.03g/t Au from 137m in NEWXCRC015. Assay results from Trek’s maiden drilling returned two significant high-grade intercepts in hole 24XCRC097, comprising: • 10m @ 12.66g/t Au from 59m, including: o • 1m @ 32.6g/t Au; and o 3m @ 29.8g/t Au. o 2m @ 31.1g/t Au; and 10m @ 7.34g/t Au from 94m, including: o 1m @ 7.85g/t Au. Figure 2: Cross-section at Martin, highlighting the two significant recent gold intercepts in yellow, the vein orientation in NEWXCRC012, and an interpreted anticline with an untested associated target zone below. Down-hole televiewer surveys were subsequently undertaken on hole 24XCRC097, with data showing that the majority of the veins intersected in 24XCRC097 were intersected at a relatively high angle to the hole axis. This suggests that the veins were intersected at close to true width and, importantly, the hole was not drilled down a vein, which would give a much wider (but less significant) apparent intersection. TREK METALS LIMITED | ANNUAL REPORT 2025 5 Trek’s hole 24XCRC097 was designed to follow up the high-grade intercept of 2m @ 9.65g/t Au in NEWXCRC012. NEWXCRC012 was the southernmost hole of its drill section and was unconstrained. Hole 24XCRC097 was designed as a scissor hole and drilled to the south due to the interpretation that the mineralised vein in hole NEWXCRC012 was intersected at a low angle. Hole NEWXCRC012 appears to have only intersected one vein as the hole was drilled in a subparallel orientation to that of the mineralised vein set, whereas hole 24XCRC097 has drilled across the veins, intersecting numerous mineralised veins (Figure 3 and Figure 5). These down-hole results have significantly upgraded the prospectivity of the Martin Prospect to host a significant accumulation of gold. Figure 3: Cross-section at Martin, highlighting the two significant recent gold intercepts in yellow and the mineralised vein orientations in NEWXCRC012 & 24XCRC097 showing the interpreted stacked vein system. Refer to Figure 7 for cross-section reference line in plan view. TREK METALS LIMITED | ANNUAL REPORT 2025 6 Figure 4: Martin Prospect plan with gold in drilling highlighting the previously reported two emerging gold trends. Black box showing the extent of Figure 5 below (zoomed in around significant intercepts in 24XCRC097 & NEWXCRC012). Figure 5: Zoomed in plan view at Martin, highlighting the mineralised vein orientations and interpreted bedding from the holes around the significant intercepts in 24XCRC097 & NEWXCRC012. As above coloured gold grades from drilling. Section markers A & A’ relating to Figure 3. TREK METALS LIMITED | ANNUAL REPORT 2025 7 The geological interpretation of the down-hole televiewer data suggests that the gold-bearing veins are situated in the hinge position of a folded sequence of meta-sedimentary rocks (Figures 2 & 3). The Company has identified visible gold in drill chips following further analysis of the highgrade gold intervals. The occurrence of visible gold in drilling is a positive indication in terms of potential, both from a geological and processing point of view, although metallurgical testing will be required. Zahn Zahn is a large (>2km across) surface Deep Sensing Geochemistry (DSG) gold anomaly in an area of thin cover. It has the strongest amplitude of any DSG gold anomaly in the project area, however the geology of the Zahn Prospect has until now been enigmatic. Assay results from Trek’s drilling at Zahn during 2024 returned several encouraging intersections with low level, but highly significant, gold mineralisation including: • • • 28m @ 0.18g/t Au from 20m in 24XCRC074, including: 7m @ 0.35g/t Au from 26m, with: 1m @ 0.65g/t Au from 29m Following the receipt of one-metre assays and a reinterpretation of the magnetic data at Zahn, a geological model has emerged that indicates that it has the classic characteristics of an Orogenic gold camp. The most common geological setting for a major Orogenic gold camp is an antiform adjacent to a major structure, usually where that major structure has a bend in its trend. All of these elements are now recognised at Zahn. This new interpretation at Zahn defines a series of obvious structures for follow-up, these being the interpreted mineralised dolerite contacts adjacent to the major regional structure (see Figure 6). It is particularly notable that the intersection in 24XCRC074, which is the best to date at Zahn (28m @ 0.18g/t Au) is associated with an interpreted dolerite contact that is open and completely untested for about 800m towards this major structure, discussed above. TREK METALS LIMITED | ANNUAL REPORT 2025 8 Figure 6: Plan view of the Zahn Prospect area, showing target zones, drilling with significant intercept callouts and selected soil samples above 5ppb Au. The background image is magnetics (TMI RTP 1VD) and shows an interpreted early high-mag intrusive that has been folded, providing antiformal structures adjacent to a demagnetised structural corridor / Major Structure. The interpreted antiformal dolerite contacts represent high priority drill targets for the upcoming field program. Other Prospects Several important mineralised trends have been interpreted from previous and 2024 season soil sampling. These are shown in Figure 7, along with the associated prospect names. There is evidence for three key mineralisation signatures in the soil geochemistry: • • • Au-As -(W-Pb-Zn-Cd-Cu-Bi) at Zahn Au-Low As –(Cu-Bi-Pb-Te) at Coogan, Willis and Martin Pb-Ag –(Zn-Cu-Bi) as a halo to Au-Cu mineralisation at Coogan and Zahn (and potentially indicative of buried mineralisation at Jobs, Smith, Price and Nicks). The combined core and halo responses are multi-square-kilometre targets at Coogan and Zahn. Both prospects have delivered significant, but low grade, anomalism in drilling to date. However, both are large target areas and remain highly prospective and significantly underexplored. Interpretation of soil sampling data has also outlined extensive multi-kilometre scale targets at both the Zahn and Coogan Prospects, further enhancing the discovery potential at Christmas Creek. TREK METALS LIMITED | ANNUAL REPORT 2025 9 Figure 7: Categorised surface geochemical responses at the greater Christmas Creek Project area highlight the large multi-square-kilometre responses associated with the Coogan and Zahn Prospect areas. Next Steps In light of the strength of the results received, including televiewer data indicating a series of stacked (sheeted) quartz veins and the observation of visible gold across both thick, highgrade, intercepts, Trek decided to fast-track drill testing the interpreted extensions to this system. Martin remains the priority focus for drilling, which is scheduled to commence in early June 2025. To support this follow-up drilling, Trek commenced high-resolution geophysical surveys over the Christmas Creek Project. The ground gravity, passive seismic and drone magnetic surveys will provide a comprehensive set of data to build the sub-surface geological framework that will be critical to understanding the location and distribution of gold-bearing veins. TREK METALS LIMITED | ANNUAL REPORT 2025 10 MCEWEN HILLS NIOBIUM PROJECT (WEST ARUNTA, NORTHERN TERRITORY) Trek secured the highly prospective McEwen Hills Niobium Project, located in the heart of the West Arunta Critical Minerals Province, during the September 2023 Quarter. The continued success of WA1 Resources in defining the scale of their Luni Niobium discovery along strike from Trek’s McEwen Hills Project highlights the potential of the province. Figure 8. Magnetic imagery highlighting the continuity of the geology across the state border, with the Luni & Crean Nb carbonatite discoveries of WA1 & ENR on the Western Australian side, and Trek’s McEwen Hills Project (ELA33191) on the Northern Territory side, of the West Arunta Critical Minerals Province. The tenement application area is located within freehold aboriginal lands of the Lake MacKay Aboriginal Land Trust and is administered by the Central Land Council. Access and exploration for gold has previously been completed by Tanami Gold NL, Normandy Gold Exploration (later Newmont) and ABM Resources, so there is a precedent for access to the land. Trek attended an on-country meeting with the Traditional Owners of the land underlaying its tenement application ELA33191 in May 2024. Meeting members of the Lake MacKay Aboriginal Land Trust in Nyirripi, Northern Territory, represents an important step in the negotiation process and is essential for the grant of the tenement to occur. The Company is awaiting a draft access agreement from the Central Land Council. During the reporting period, Trek was awarded up to a $66,000 co-funding grant as part of the Northern Territory Geophysics and Drilling Collaborations Program. The grant was used to support a detailed airborne magnetic survey designed to increase the resolution of magnetic features and fine-tune targets for follow-up gravity geophysics. The combination of gravity and magnetic geophysical data are two of the key datasets used to target intrusion-related deposits (e.g., IOCG and carbonatite-related mineralisation. The magnetic data is currently being interrogated to aid target generation and plan next steps should land access to the project be granted. TREK METALS LIMITED | ANNUAL REPORT 2025 11 PINCUNAH GOLD PROJECT (PILBARA, WESTERN AUSTRALIA) During the June 2024 Quarter, Trek completed a maiden drilling program at the Champagne Pool target. This program comprised three drill holes to test the geochemical/geophysical anomaly that defined the Champagne Pool target. coincident The drilling intersected dominantly basaltic lithologies, with lenses of ultramafic rock and graphitic shale. The third hole penetrated a shear zone that separates the basaltic lithologies from a sequence of sandstones. Alteration and mineralisation of pathfinder elements is strongest within the logged graphitic shale units where porosity and permeability are proposed to have been greater than the surrounding volcanic rocks, however there is a strong halo around the shale and lithology boundaries indicating significant fluid flow after deposition of the various units. Interpretation of the mineral system following drilling is that is has been folded and is now near- vertical where it was originally emplaced as horizontal sheets that followed the most porous and permeable lithologies or structural breaks. Drill assay results for the pathfinder elements are significantly above the levels seen in the soil sampling. Mercury (Hg) peaked at 247ppm, with supporting indicator elements Tellurium (Te) reaching 2.23ppm and Antimony (Sb) 72ppm. The crustal average abundance of Mercury (Hg) is 0.085ppm (CRC#1) and Tellurium (Te) 0.001ppm (CRC#1), with ten times these levels considered a significant anomaly. Pathfinder element zoning patterns in hydrothermal systems are consistent regardless of the type of system as they reflect a temperature gradient. Evident in the assay results from Champagne Pool is a temperature gradient as defined by geochemical zonation from high temperature Mo to Bi to As to Sb. The predominance of highly elevated low temperature elements – particularly Hg, Sb and Te – are the key indicators of the epithermal model that is proposed at the Champagne Pool target. Evident in the geochemistry is a trend of increasing temperature and alteration towards the west, with a plunge component also to the west as shown in Figure 9. Drill-hole 24PNRC003 is the only hole to contain a high temperature metal association and is therefore considered the closest to the heat and fluid source of the observed alteration. The three completed holes and the assay data received, point strongly to an eastward flow of mineralising fluids and suggest that future exploration should be concentrated to the west of the drilling (refer to plan view and westward increasing temperature gradient). Various methods of follow-up exploration is being considered. TREK METALS LIMITED | ANNUAL REPORT 2025 12 Figure 9: Plan view of the Champagne Pool drill results with down-hole Hg, Te & Sb bar graphs, confirming a bedrock source to the surface geochemical anomalism (shown as dots, refer ASX 26/03/24) and providing a vector towards a potential gold-bearing zone to the West/North-West. HENDEKA MANGANESE PROJECT (PILBARA, WESTERN AUSTRALIA) In September 2024, Trek entered into an option and acquisition agreement (“Option and Acquisition Agreement”) with Advanced Energy Fuels, Inc. (“AEF”) over Trek’s Hendeka Manganese Project in the Pilbara region of Western Australia. The Option and Acquisition Agreement gives AEF an option to acquire the Hendeka Project as part of a proposed North American listing and by making certain payments and sole funding A$2 million of exploration and development expenditures. On 4 February 2025, the parties agreed to amend the terms of the Option and Acquisition Agreement whereby AEF issued 2,000,000 shares from the Option consideration upfront to Trek and, in return, receive a 12-month extension to the proposed US listing date for AEF to 30 September 2026. During the March 2025 Quarter, AEF, reported highly encouraging assay results from early-stage exploration conducted under the Option and Acquisition Agreement. This initial field campaign comprised prospect-scale geological mapping and surface sampling, with a total of 302 rock chip samples collected. The program successfully delineated high-grade manganese mineralisation across four priority prospects – Pearana, Pothole, Sharks Fin, and Pearana South – in proximity to favourable geological settings. The most significant results were returned from the Pearana Prospect (Figure 10), a >4 km NW-SE trending ridge underlain by Pinjian Chert Breccia, the principal host unit at the nearby Woodie Woodie manganese mine. Assays exceeding 30% Mn were returned over a continuous 3.5 km strike length, confirming the presence of extensive, high-grade surface mineralisation. TREK METALS LIMITED | ANNUAL REPORT 2025 13 Figure 10. Pearana Prospect rock chip sample assays and geology (Pinjian Chert Breccia – blue, colluvium brown). The Pearana Prospect is located within granted Exploration Licences E46/1521 and E46/1387, enabling AEF to progress toward drill testing. A heritage agreement with the Nyamal people and a land access agreement with the pastoral leaseholder are in place. A heritage survey request, Program of Work, and Exploration Operations Notice have been prepared for submission to facilitate on-ground exploration. Next steps include detailed geological mapping and geophysical surveys – gravity, magnetics, and electromagnetics – to refine drill targets. A drilling contractor is being shortlisted, with a track-mounted rig anticipated to access key terrain. Earthworks and drill pad construction are scheduled in advance of the maiden drill program. Further surface sampling and geochemical analysis are planned to enhance target delineation. In parallel, AEF has continued development of its manganese processing flowsheet, including battery precursor test-work on concentrates derived from Contact Resource diamond drill core. Variability beneficiation test-work, based on samples from three planned starter pits, has been completed and supports earlier findings announced by Trek in its ASX release titled "Metallurgical Test Work Delivers Manganese Concentrate Grades in Excess of 30% Mn" dated 27 October 2023. Downstream test-work has commenced at two laboratories focused on the separation and purification stages required to produce High-Purity Manganese Sulphate Monohydrate (HPMSM), a key input material for lithium-ion battery cathodes. TREK METALS LIMITED | ANNUAL REPORT 2025 14 JIMBLEBAR NICKEL-COPPER-PGE PROJECT (PILBARA, WESTERN AUSTRALIA) During the reporting period, Trek signed an Earn-in Agreement with a subsidiary of DevEx Resources Limited (ASX: DEV) for an option to earn-in to the Jimblebar Nickel-Copper Project in the Pilbara region of Western Australia. The Jimblebar Project comprises over 200km2 of granted tenements adjacent to known occurrences of copper sulphide mineralisation at the Copper Knob prospect and chromite at the historical Coobina chromite mine, on the northern margin of the Silvania Dome in Western Australia. DevEx commenced a SQUID electromagnetic survey during the September 2024 Quarter to test poorly exposed Archean mafic and ultramafic greenstone stratigraphy for copper-nickel mineralisation associated with orthomagmatic intrusions. Due to the onset of the wet season, the survey has been postponed with field activities planned to recommence in May 2025 once weather conditions permit access. OTHER PROJECTS After taking into consideration current market conditions and investor sentiment, the Trek Board resolved to pursue alternative pathways for the following projects, including through potential joint ventures, external funding arrangements or divestment: • • • • Tambourah Lithium Project. Hendeka Manganese Project – Option Agreement signed. Jimblebar Ni-Cu Project – Earn-in Agreement signed. Lawn Hill Base Metals & Uranium Project – Earn-in Agreement signed. This is consistent with Trek’s strategic focus on its high-priority Christmas Creek Gold Project in the Kimberley region of WA and its McEwen Hills Niobium Project, located along strike from WA1’s world-class Luni discovery. TREK METALS LIMITED | ANNUAL REPORT 2025 15 MINERAL RESOURCES STATEMENT – ANNUAL REVIEW The Hendeka project has a JORC (2012) Inferred Mineral Resource Estimate (MRE) of 11.3Mt grading 15.0% Mn for the Contact and Contact North deposits (refer ASX Release 6 June 2022 for additional information). Global Inferred Mineral Resource Estimate for Contact and Contact North deposits Summary of Inferred Mineral Resources (1) Tonnes (Mt) Contact Al2O3% 13.6 5.1 Fe% SiO2% P% LOI (1000) Contact 8.5 15.4 3.0 15.0 15.7 42.9 0.054 0.057 8.6 TOTAL 11.3 15.0 3.5 15.2 42.5 0.057 8.5 North 2.8 Mn% (1) Mineral Resources reported at a cut-off grade of 10.1% Mn 42.4 8.4 Other than the Metallurgical test work completed, there were no further drilling activities conducted during the reporting period. Mineral Resource estimates are compiled by Independent consultants following industry standard methodologies and techniques. The information in this report that relates to the Hendeka Mineral Resource is based on information compiled by Mr. Lynn Widenbar, Principal Consultant of Widenbar and Associates Pty Ltd., who is a Member of the AusIMM and the AIG. There were no changes to the Hendeka Mineral Resource Estimate during the year. CORPORATE EARN-IN AGREEMENTS WITH DEVEX RESOURCES During the year, Trek signed two Earn-in Agreements with subsidiaries of DevEx Resources Limited (ASX: DEV) for an option to earn-in to the Jimblebar Nickel-Copper Project in the Pilbara region of Western Australia and to progress the Lawn Hill-Murphy West Uranium Project, NT. Material terms of the earn-in agreements were included in the ASX Release dated 11th June 2024. CAPITAL RAISING Subsequent to the end of the reporting period, the Company completed a strongly supported capital raising of $3.5 million (before costs) to accelerate exploration at the Christmas Creek Project and for general working capital. The Company issued 65 million fully-paid ordinary shares in the capital of the Company at an issue price of $0.05 per Share to existing and new professional and sophisticated investors, to raise a total of $3.25 million (Tranche One). In addition, Directors Tony Leibowitz and John Young have committed to participate for a total of $0.25 million on the same terms as Tranche One in a second tranche which will be subject to shareholder approval (Tranche Two). TREK METALS LIMITED | ANNUAL REPORT 2025 16 FINANCIAL REVIEW The group began the year with $5,552,999 in cash and ended the year with $1,697,383 in cash. During the year the company expended $2,566,811 (2024: $2,804,632) on Exploration and Evaluation expenditure that was capitalised during the year. The Group incurred a loss for the year of $3,422,863 (2024 Loss: $1,705,090). Significant expenditure items during the period include: − − − − Exploration and evaluation expense of $218,369 (2024: $75,945); Exploration and evaluation impaired of $2,568,235 (2024: $nil); Directors’ salaries and Consulting Fees of $325,250 (2024: $391,675); and Share based payment of $359,798 (2024: $543,125). Subject to the disclosures elsewhere in this report, the Directors believe the Group is in a stable financial position to continue to explore its projects and to identify new opportunities within the resources sector. Lastly, I would like to thank all our staff, consultants and stakeholders for their ongoing efforts on behalf of the Company and look forward to progressing our projects to create value for shareholders. Derek Marshall Chief Executive Officer 5 June 2025 TREK METALS LIMITED | ANNUAL REPORT 2025 17 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 or controls 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. Hendeka Mineral Resource The information in this Report contains references to Edge’s 2012 JORC Mineral Resources at the Hendeka Project and is extracted from Trek’s ASX Release and Public Report of 6 June 2022. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement. In the case of estimates of Mineral Resources or Ore Reserves, the Company confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. TREK METALS LIMITED | ANNUAL REPORT 2025 18 DIRECTORS’ REPORT The Directors present their report an