Announcement PDF Investor Presentation 15 September 2026 ACN 645 666 164 A S X : K A L Perth Kalgoorlie PINJIN KalGold’s systematic exploration for big gold deposits in Australia’s richest gold province 2 I M P O R T A N T N O T I C E & D I S C L A I M E R This presentation has been prepared by Kalgoorlie Gold Mining Limited (ACN 645 666 164) ("KAL", "KalGold" or the "Company"), is dated 15 September 2026 and has been prepared in relation to a proposed equity raising comprising a pro-rata non-renounceable entitlement offer of new fully paid ordinary shares in KAL ("New Shares") to eligible shareholders ("Entitlement Offer"). As part of the Entitlement Offer, eligible shareholders who take up their entitlement in full may also apply for additional New Shares up to 100% in excess of their Entitlement ("Additional New Shares"), being those shares that have not been taken up by eligible shareholders in full or in part ("Top-Up Facility"). Stralis Capital Partners Pty Ltd (ACN: 681 589 515) and Lazarus Advisory Pty Ltd (ACN: 692 922 302) have been appointed as joint lead managers to the Entitlement Offer (together, the "Joint Lead Managers"). This presentation is provided for general information purposes only and does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of securities in the Company in any jurisdiction, nor does it form any part of any contract for the acquisition of New Shares. It is not a prospectus, product disclosure statement, pathfinder document or any other type of public offer disclosure document for the purposes of the Corporations Act 2001 (Cth) ("Corporations Act") and has not been, and is not required to be, lodged with the Australian Securities and Investments Commission ("ASIC"). It should not be relied upon by the recipient in considering the merits of the Company or the acquisition of shares in the Company, and does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. This presentation and the information in it are subject to change without notice, and the Company is not obliged to update this presentation; the recipient acknowledges that circumstances may change and that this presentation may become outdated as a result. Summary Information. The material in this presentation is general background information about KAL and its activities, current as at the date of this presentation. It is information given in summary form and does not purport to be complete, nor does it contain all the information which a prospective investor may require in evaluating a possible investment in KAL, or that would be required in a prospectus, product disclosure statement or other disclosure document prepared in accordance with the Corporations Act. The presentation should be read in conjunction with the Company's other periodic and continuous disclosure announcements filed with the Australian Securities Exchange ("ASX"), available at www.asx.com. Certain market and industry data included in this presentation has been obtained from third party sources; neither the KAL Parties nor the Joint Lead Manager Parties have independently verified such data and none makes any representation or warranty as to its accuracy or completeness. More broadly, none of KalGold, its subsidiaries, the Joint Lead Managers nor their respective representatives make any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the information contained in this presentation or any other written or oral communication transmitted or made available to any recipient. To the maximum extent permitted by law, KalGold, its subsidiaries, the Joint Lead Managers and their representatives expressly disclaim any and all liability arising from such information, or any errors or omissions. Not Financial Product Advice. This presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice), nor any recommendation to acquire New Shares, and is not intended to be relied upon as advice to investors or potential investors. It has been prepared without taking account of any person's individual investment objectives, financial situation or particular needs. Each recipient should make its own enquiries and investigations regarding all information in this presentation, including the assumptions, uncertainties and contingencies which may affect the future operations of the Company and its subsidiaries (together, the "Group") and the impact different future outcomes might have on the Group. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek their own independent financial, legal, tax and accounting advice appropriate to their jurisdiction. The Company is not licensed to provide financial product advice in respect of the New Shares. Forward-Looking Statements. This presentation contains forward-looking statements regarding the Company's resources, intentions and future business, including the future business of its subsidiaries. These statements reflect current expectations, intentions and strategies regarding the future and are subject to significant risks and uncertainties. Should one or more of these risks or uncertainties materialise, or should any underlying assumptions prove incorrect, actual results and developments of projects and market development may differ materially from those expressed or implied by these statements, depending on a variety of factors. Though reasonable care has been taken to ensure the facts are accurate and the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this presentation or on its completeness. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Other than where required by law, the Company is under no obligation to revise any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this presentation. In receiving this presentation, each recipient agrees to the foregoing terms and conditions, including any modifications to them. This Investor Presentation has been approved for release by the Board of Directors. R E S U L T S , C O M P E T E N T P E R S O N , A N D M I N E R A L R E S O U R C E E S T I M A T E S Exploration Results The references in this Presentation to historic Exploration Results for the Pinjin Gold Project were reported in accordance with Listing Rule 5.7 in the announcements titled: • RC program defines high-grades and new targets at Lighthorse, 2 September 2026 • Infill and extensional RC drilling intersects broad gold mineralisation at Kirgella Gift and Providence, 4 August 2026. • Kirgella Gift diamond drilling intersects thick gold mineralisation, confirms primary gold extends at depth, 13 February 2026 • New RC drilling extends primary gold at Lighthorse, 19 December 2025 • Sub-Audio Magnetics (SAM) geophysical data guides upcoming RC drill program at Pinjin. Diamond Drilling at Kirgella Gift and Providence to commence soon, 26 August 2025 • Lighthorse Strike Extended to 1,450m. Extensive RC Program Beginning Shortly, 15 July 2025 • SAM geophysical survey commencing around Lighthorse, and exploration update, 6 June 2025 • Farm-in at Pinjin Gold Project completed, 29 May 2025 • Quarterly activities report for the quarter ending 31 March 2025, 30 April 2025 • Lighthorse RC program confirms primary gold mineralisation at depth, follow up drilling imminent, 15 April 2025 • Aircore drilling to test Lighthorse strike extensions in April, 10 March 2025 • Multi-kilometre target areas along strike at KalGold’s Lighthorse discovery, 17 February 2025 • Lighthorse gold discovery follow-up RC drilling to commence first week of March, 13 February 2025 • ‘Lighthorse’ gold discovery at Pinjin: thick, high-grade gold intercepted at new greenfields find, 7 February 2025 • First-pass aircore drilling at Kirgella West: broad gold anomalism and mineralisation over 1,200m strike, 18 December 2024 • Quarterly activities report for the quarter ending 30 September 2024, 30 October 2024 • Providence: North plunging shallow gold mineralisation has significant potential, 7 December 2023 • Shallow, high-grade results extend Kirgella Gift and Providence corridor to over 1,150m of strike, 25 October 2023 • Thick, shear-hosted gold mineralisation intercepted at Kirgella Gift, 8 June 2023 • KalGold farms-in to Kirgella gold tenements and acquires Rebecca West tenure at Pinjin, 23 May 2023 The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcements noted above. Competent Person Statement The information in this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Matthew Painter, a Competent Person who is a Member of the Australian Institute of Geoscientists. Dr Painter is the Managing Director and Chief Executive Officer of Kalgoorlie Gold Mining Limited (KalGold) and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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. Dr Painter consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. Dr Painter holds securities in Kalgoorlie Gold Mining Limited. Mineral Resource Estimate The references in this announcement to Mineral Resource estimates were reported in accordance with Listing Rule 5.8 in the following announcements: • La Mascotte gold deposit: First JORC (2012) Mineral Resource of 138,000 oz Au, 7 March 2023. • First Kirgella Gift Inferred Resource of 76,400 oz from 3m, 25 July 2024. In accordance with ASX Listing Rule 5.23, the Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement noted above and that all material assumptions and technical parameters underpinning the Mineral Resource estimates in the previous market announcements continue to apply. 3 W E S T E R N A U S T R A L I A N G O L D Perth Kalgoorlie PINJIN The Eastern Goldfields of Western Australia Key overlooked project areas provide enormous discovery opportunities KalGold’s aim – to discover large gold deposits on major gold mineralising structures 100 km BULONG TAURUS YANDAL CENTRAL Wiluna Laverton C O R P O R A T E S T R U C T U R E / T E A M A$9.3 million Market Cap at A$0.020/share on 14 September 2026 A$1.8 million Cash 30 June 2026 455.9 million Shares on issue Nil Debt 30 June 2026 Capital Structure (prior to Placment & Entitlement Offer) Directors and Management Pauline Gately Non-Executive Chair • Investment strategist, commercial focus • 20 years investment banking • Acquisitions, exploration, project development Matt Painter Managing Director & CEO • PhD Economic Geology • Global gold experience, multiple commodities • 30 years technical and corporate experience Andrew Penkethman Non-Executive Director • Geologist, global experience • 30 years technical and corporate experience • Managing Director of Ardea Resources Limited Graeme Smith Company Secretary/CFO • Corporate governance & finance professional • 30 years experience in the resources industry Merle Newton Exploration Manager • Geologist, 20 years’ global experience • Kalgoorlie-based gold exploration specialist Scott Herrmann Geological Consultant • Geologist, 20 years’ global experience • Gold exploration, resource development, production Tash Maitland Exploration Geologist • Geologist, 5 years’ experience • Kalgoorlie-based gold explorationist Top Shareholders Regal Funds Management 15.33% Alianda Oaks P/L & Resources Surveys P/L 8.14% Other 71.35% Board 1.50% G O L D R E S O U R C E S We consider shallow accessible gold deposits an indicator of upside growth potential. 40km La Mascotte 3.61 Mt at 1.2 g/t Au for 137,900 oz Au from surface Kirgella Gift & Providence 2.34 Mt at 1.0 g/t Au for 76,400 oz Au from 3m depth * Inferred Mineral Resource Estimate * * * Scientific focus • Pinpointing areas of greatest gold potential • Proven multi-million ounce corridors are unexplored where hidden by surface sediment Big company approach • In-house definition of targets • Comprehensive, systematic testing ensures that no significant gold mineralisation is missed K A L G O L D I N V E S T M E N T P R O P O S I T I O N BIG GOLD DISCOVERIES TO MAXIMISE RETURN ON INVESTMENT Aim: Granny Smith 5.8Moz Wallaby 11.8Moz Sunrise Dam 10.3Moz Red October 0.44Moz Lighthorse Kirgella Gift AngloSaxon 0.21Moz Mulgabbie Carosue Dam Rebecca-Roe 1.40Moz Deep South 0.45Moz Linden Jungle Dam Patricia Heysons Edjudina Wallbrook Kurnalpi Ramelius Resources (ASX:RMS) Rebecca-Roe Gold Project is only ~16km south, works to start FY27, mining 2028 Wide N-S zone. Could large deposits have formed here? Narrower, SE zone contains ~0.5 Moz deposits Wide, N-S zone contains giant deposits over 5 Moz Over 30Moz* gold endowment along the Laverton Tectonic Zone (LTZ) The southern end of the LTZ mirrors the wide, mineralised north We aim to discover significant gold deposits in the south Small company upside, big company targets M O R E B I G D E P O S I T S ? Pinjin KalGold PINJIN PROJECT * Henson, P.A., et al., 2010. “4D architecture and tectonic evolution of the Laverton region, eastern Yilgarn Craton, Western Australia.” Precambrian Research v183, p.338-355 P I N J I N G O L D P R O J E C T Perth Kalgoorlie PINJIN Gold-mineralised rocks hidden beneath transported sediment cover Next to major gold development project Strong newsflow as exploration programs get underway Kirgella Gift Providence Lighthorse Lighthorse (northern) T12 (fmr Newmont) T15 (fmr Newmont) LTZ Flexure (aircore drilling, results pending) Rebecca Sequence Rebecca Gold Project Ramelius – 16km Anglo Saxon Gold Mine Hawthorn – 9.5km P I N J I N G O L D P R O J E C T 503km2 total project area, (granted and applications) Focus on ~45km2 between • Anglo Saxon gold mine (HAW, 9.5km), and • Rebecca-Roe Gold Project (RMS, 16km) Flat area, almost no outcrop Numerous gold plays: • Shallow gold resource at Kirgella Gift and Providence • Gold discovery at Lighthorse • Historic projects at T12 & T15 • Numerous targets for first- pass exploration (e.g. LTZ Flexure, Rebecca Sequence) Imagery shown is Google satellite imagery overlain by WA statewide merged 20m aeromagnetic data. Drill symbols represent collar positions containing cumulative gold – square = RC, triangle = aircore, colouring as per legend. Inferred JORC Mineral Resource Estimate (MRE) Easy feed to nearby mills Expandable to depth S H A L L O W G O L D R E S O U R C E 2.34 Mt @ 1.0 g/t Au for 76,400 oz from only 3m depth Kirgella Gift and Providence resource focused on shallow ounces R E C E N T D R I L L I N G Kirgella Gift and Providence extended, aiming for a bigger deposit 22 strategic RC drill holes (3,600m) • extensions along strike and down-dip Gold mineralisation at both deposits extends beyond the current MRE, • open at depth • more drilling required to define full extent • aiming for a future MRE update KGRC26008 28m @ 1.15 g/t Au including 4m @ 2.08 g/t Au and 1m @ 2.09 g/t Au and 1m @ 2.13 g/t Au (within 38m @ 0.89 g/t Au) 5m @ 1.24 g/t Au including 1m @ 2.50 g/t Au (within 11m @ 0.85 g/t Au) KGRC016 8m @ 2.04 g/t Au including 4m @ 2.37 g/t Au (within 17m @ 1.10 g/t Au) KGRC23008 11m @ 2.51 g/t Au including 4m @ 5.63 g/t Au (within 14m @ 2.00 g/t Au) KGRC26003 3m @ 3.55 g/t Au including 1m @ 8.57 g/t Au (within 7m @ 1.58 g/t Au) KGRC26010 10m @ 1.18 g/t Au including 1m @ 3.04 g/t Au KGRC004 33m at 3.1g/t Au including 12m at 4.66g/t Au and 2m at 7.01g/t Au and 1m at 14.25g/t Au (within 45m @ 2.36 g/t Au) KGRC23001 12m at 1.71g/t Au including 4m at 2.91g/t Au 7m at 1.50g/t Au including 2m at 3.30g/t Au (within 35m @ 1.51 g/t Au) KGRC015 9m @ 1.45 g/t Au including 4m @ 2.44 g/t Au (within 22m @ 0.85 g/t Au) Kirgella Gift Providence KGRC26018 8m @ 1.07 g/t Au including 1m @ 3.52 g/t Au (within 11m @ 0.81 g/t Au) 7m @ 1.39 g/t Au including 4m @ 2.04 g/t Au (within 15m @ 0.80 g/t Au) KGRC26016 13m @ 1.54 g/t Au including 2m @ 3.71 g/t Au (within 25m @ 0.90 g/t Au) Imagery shown is WA statewide merged 20m aeromagnetic data. Drill symbols represent collar positions containing cumulative gold – square = RC, triangle = aircore, colouring as per legend. Some drill traces shown. K I R G E L L A E X T E N T I O N T A R G E T S Deeper down-plunge target for MRE expansion drilling. K A L G O L D ’ S P E R S P E C T I V E MRE + Extensive Anomalism = Hidden Gold Camp Over 6km strike of gold anomalism and mineralisation: • Kirgella Gift and Providence MRE • Old prospects at T12 and T15 (Newmont) • Lighthorse discovery Anomalism is too large and too dispersed to be one deposit. Are we looking at a buried gold camp or goldfield beneath Pinjin? If so, we are dealing with a cluster of deposits, requiring; • More drilling at Lighthorse and known deposits • More testing of outlying areas (e.g. LTZ Flexure, Rebecca Sequence) to define the full extent of the camp’s footprint The full extent of gold mineralisation and anomalism along the Lighthorse corridor, extending over 6 km north–south to the limit of sampling. The T12 and T15 prospects are not contoured internally. Background: Google satellite imagery. Projection: MGA 94 Zone 51. Kirgella Gift Providence Lighthorse Lighthorse (northern) T12 (Newmont) T15 (Newmont) L I G H T H O R S E Extensive gold needs follow-up High-grade primary gold open at depth • Up to 19.70g/t Au Extensive new targets • Grade increasing down dip • Open on all sections RC follow-up program coming • Up to 20 holes in planning, 250-300m deep Plan view of drilling completed at Lighthorse, including the recently completed 19 hole, 3,194m RC drill program. New RC drill holes are labelled and represented with a white circle around the collar position. White text boxes are new results from this program. Brown labels show previous RC drilling results, with grey rectangular labels displaying previous aircore results. Collar positions and gold content is also shown for historic drilling. Background imagery shows magnetometric conductivity. Projection: MGA 94 Zone 51. L I G H T H O R S E ( n o r t h e r n a r e a ) High-grade primary gold open at depth • Up to 19.70g/t Au • Encased in broad mineralised zones, veining, alteration High grades in fresh rock illustrate potential L I G H T H O R S E New targets in the north High-grade primary gold open at depth • Up to 19.70g/t Au • Grade increasing down dip • Open on all sections, target from ~150m depth RC follow-up program coming • Up to 20 holes, 250-300m deep Lighthorse northern area section L I G H T H O R S E Refined central targets Refined targeting beneath the discovery zone • Steep east dip? • Down-dip extent of high-grade discovery holes • 17m @ 4.81 g/t Au i n c l u d i n g 8m @ 9.21 g/t Au • 9m @ 3.52 g/t Au i n c l u d i n g 2m @ 13.65 g/t Au • One shallow hole in depletion zone • Deeper areas untested Lighthorse discovery section Ongoing systematic first pass aircore drill programs for more discoveries No mapped outcrop LTZ Flexure provides numerous geophysical targets, RESULTS PENDING Rebecca Sequence hosts RMS’s Rebecca gold deposit 20km to the south, never tested here. N E W T A R G E T S LTZ Flexure Rebecca Sequence E Q U I T Y R A I S E D E T A I L S Offer Size and Structure • Up to $3.4 million equity raising comprising: • A single-tranche institutional placement to raise approximately $2.3 million (“Placement”); and • A fully underwritten 1 for 10 pro-rata non-renounceable entitlement offer to eligible existing shareholders to raise up to approximately $1.1 million (“Entitlement Offer”). • Collectively, the Placement and the Entitlement Offer are referred to as the “Offer”. • Up to approximately 170.4 million new fully paid ordinary shares (“New Shares”) to be issued under the Offer, representing approximately 37% of existing shares on issue. Offer Price • The Offer will be conducted at $0.020 per share (“Offer Price”), which represents a: • 9.8% discount to TERP1 of $0.022 as at 9 September 2026; • 13.0% discount to the last closing price of A$0.023 on 9 September 2026; and • 19.4% discount to the 15-day VWAP of A$0.025. Placement • The Placement was announced on Monday, 14 September 2026, receiving firm commitments to raise gross proceeds of approximately $2.3 million (before costs). • New Shares issued under the Placement are cum-entitlement and will be eligible to participate in the Entitlement Offer. • The Placement is not underwritten. Entitlement Offer • The Entitlement Offer will be open to all eligible shareholders who have a registered address within Australia and New Zealand who hold Shares on the Record Date on Monday, 21 September 2026 (“Eligible Shareholders”). • Eligible Shareholders will have the opportunity to acquire one new share for every existing ten shares in the Company (“Entitlement”) at the Offer Price. • Eligible Shareholders who take up their Entitlement in full may also apply for additional New Shares up to 100% of their pro-rata Entitlement (“Additional New Shares”), being those shares that have not been taken up by eligible shareholders in full or in part (“Top-Up Facility”). Any New Shares not applied for by Eligible Shareholders under their Entitlement will be included in the Top-Up Facility. Applications for Additional New Shares under the Top-Up Facility will be subject to scale back by the Board on a pro-rata basis (where applicable). • The Offer Booklet is expected to be lodged on the ASX and despatched on Thursday, 24 September 2026. Eligible shareholders should consider the Offer Booklet carefully before deciding whether to participate in the Entitlement Offer. • The Entitlement Offer is fully underwritten by Stralis. The underwriting agreement is subject to a number of conditions precedent and termination events. Refer to Appendix 2 for a summary of the Underwriting Agreement. Ranking • New Shares issued under the Offer will rank equally with the Company’s existing fully paid ordinary shares. Broker Syndicate • Stralis Capital Partners Pty Limited (“Stralis”) is acting as Sole Underwriter to the Entitlement Offer, Joint Lead Manager and Joint Book Runner to the Offer. Lazarus Advisory Pty Ltd (“Lazarus”) is acting as Joint Lead Manager and Joint Book Runner to the Offer. 1) The theoretical ex-rights price is the theoretical price at which KAL shares should trade immediately after the ex-date for the Entitlement Offer. The TERP is a theoretical calculation only and the actual price at which KAL’s shares trade immediately after the ex- date for the Entitlement Offer will depend on many factors and may not equal the TERP. TERP is calculated by reference to KAL’s closing price of A$0.0230 on 9 September 2026 Source of Funds AUD$'M Placement 2.3 Entitlement Offer 1.1 Total 3.4 Use of Funds AUD$'M Exploration Programs 1.1 Salaries, Wages and Contractors 0.6 Tenement Costs, and Administrative Costs 0.1 Working Capital 1.6 Total 3.4 U S E O F F U N D S The use of funds set out above is indicative only and reflects the current intentions of KalGold based on assumptions and information available as at the date of this presentation. The actual amount and allocation of funds may differ materially from that set out above and remains subject to change at the discretion of the Company's board and management, having regard to factors including but not limited to actual and unforeseen costs, operational, market, and regulatory conditions, and other matters outside of the Company's control. The Company reserves the right to change the way funds are allocated and applied, and no assurance or guarantee is given that funds will be applied in the manner set out in this presentation. I N D I C A T I V E T I M E T A B L E Event Date (Sydney time) Company gives notice to ASX under section 708AA(2)(f) of the Corporations Act Tuesday, 15 September 2026 Settlement of New Shares under the Placement Thursday, 17 September 2026 Allotment of New Shares under the Placement Friday, 18 September 2026 Ex-entitlement date Friday, 18 September 2026 Record Date for Entitlement Offer (7:00PM Sydney time) Monday, 21 September 2026 Entitlement Offer documentation despatched and Entitlement Offer open Thursday, 24 September 2026 Last day to extend the Entitlement Offer close date Thursday 1 October 2026 Entitlement Offer close date (5:00PM Sydney time) Tuesday, 6 October 2026 Announce results of Entitlement Offer and settlement Friday, 9 October 2026 Issue Date Tuesday, 13 October 2026 Normal trading of New Shares under the Entitlement Offer Wednesday, 14 October 2026 All dates and times are indicative only. All dates and times refer to the date and time in Sydney. The Joint Lead Managers and the Company reserve the right to vary these times and dates, without notice. S Y S T E M A T I C E X P L O R A T I O N , T R A N F O R M A T I O N A L O U T C O M E S Huge discovery potential, highly leveraged to gold price, >200koz JORC resources near existing infrastructure Large strategic footprint on key multi-million ounce structures Track record of discovery through money in the ground Well-funded for extensive exploration programs and discovery 1209 Hay St, West Perth WA 6005, Australia T: +61 (0)8 6002 2700 | E: info@kalgoldmining.com.au | www.kalgoldmining.com.au A P P E N D I X 1 K E Y R I S K S K E Y R I S K S Risks Specific to the Company Description Exploration and development risk Potential investors should understand that mineral exploration and development are high-risk undertakings. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited. While the Company has established initial JORC Code (2012) Inferred Mineral Resources at its Bulong Taurus (La Mascotte) and Pinjin (Kirgella Gift and Providence) projects, there is no assurance that these resources can be further defined, upgraded or converted into a mineable reserve, or that the Company's broader portfolio of exploration targets, including at Wessex and the Lighthorse discovery, will result in the discovery of additional economically viable deposits. The future exploration and development activities of the Company may be affected by a range of factors, including geological conditions, limitations on activities due to seasonal weather patterns, unanticipated operational and technical difficulties, industrial and environmental accidents, native title process, changing government regulations and many other factors beyond the control of the Company. In addition, the construction of any proposed development may exceed the expected timeframe or cost for a variety of reasons out of the Company’s control. Any delays to project development could adversely affect the Company’s operations and financial results and may require the Company to raise further funds to complete the project development and commence operations. Future capital and funding requirements The Company has no operating revenue and is unlikely to generate any operating revenue unless and until its projects are successfully developed and production commences. As at 30 June 2026, the Company held cash and cash equivalents of $1,821,000 and net current assets of $3,386,000. The future capital requirements of the Company will depend on many factors including its business development and exploration activities. Should the Company require additional funding, there can be no assurance that additional financing will be available on acceptable terms or at all. Any inability to obtain additional financing, if required, would have a material adverse effect on the Company’s business, financial condition and results of operations. In order to successfully develop its projects and for production to commence, the Company will require further financing in the future, in addition to amounts raised pursuant to the Entitlement Offer. Any additional equity financing may be dilutive to Shareholders, may be undertaken at lower prices than the then market price or may involve restrictive covenants which limit the Company’s operations and business strategy. Debt financing, if available, may involve restrictions on financing and operating activities. Although the Directors believe that additional capital can be obtained, no assurances can be made that appropriate capital or funding, if and when needed, will be available on terms favourable to the Company or at all. If the Company is unable to obtain additional financing as needed, it may be required to reduce the scope of its activities and this could have a material adverse effect on the Company’s activities, including resulting in the Tenements being subject to forfeiture, and could affect the Company’s ability to continue as a going concern. The Company may undertake additional offerings of Shares and of securities convertible into Shares in the future. The increase in the number of Shares issued and outstanding and the possibility of sales of such Shares may have a depressive effect on the price of Shares. In addition, as a result of such additiona