Announcement PDF www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 31st March 2026 HIGH-GRADE SILVER SYSTEM CONFIRMED AT HISTORIC BIG BADJA MINE WITH OPEN TARGET AT DEPTH HIGHLIGHTS • Historic Big Badja Silver Mine within the Peak View Project has seen no modern exploration or drilling, with initial modern work confirming high- grade silver and an open anomaly at depth: o 339 g/t Ag, 1.8% Pb and 0.4 g/t Au (highest grade to date) from recent rock chip sampling (sample 8931-032) • Result supports previously reported high-grade rock chip assays from the mine, including1, 2 : o 256 g/t Ag, 4.82% Pb and 0.36 g/t Au (sample 8931-006) o 108 g/t Ag (sample 8931-004) o 93.4 g/t Ag and 3.32% Pb (sample 8931-007) o 63.4 g/t Ag (sample 8931-003) • A trial Induced Polarisation (IP) line completed over the historic mine workings has confirmed a chargeable anomaly beneath the mine, which remains open at depth • Demonstrates the system is responsive to modern geophysics, providing a clear method to target extensions • Located on a >15km prospective granite–sediment contact, including a 3km-long untested Pb-Zn soil anomaly Exultant Mining Limited (ASX: 10X) (“Exultant” or “the Company”) is pleased to report results from recent rock chip sampling and a trial Induced Polarisation (“IP”) survey completed at the historic Big Badja Silver Mine within its Peak View Project in New South Wales. The new rock chip and geophysical results (Fig. 1) materially strengthen the prospectivity of the Big Badja Silver Mine, confirming both the presence of high-grade silver-lead mineralisation at surface and a coincident chargeability anomaly extending beneath the historic workings. Importantly, the results demonstrate that the system responds to IP, providing the Company with a potentially effective tool to explore for extensions to known mineralisation. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Comment from Executive Chairman, Brett Grosvenor: "Big Badja is emerging as a compelling high-grade silver target within the Peak View Project that has seen no modern exploration or drilling despite exceptional historical grades. The latest rock chip result of 339 g/t silver is our highest grade returned from the mine to date and further validates the exceptional tenor of mineralisation indicated by both historical mining records and our earlier sampling. Importantly, the trial IP survey has identified a chargeable anomaly directly beneath the historic workings that remains open at depth. This is a significant outcome, as it demonstrates that the system can be effectively targeted using modern geophysics, something that has not previously been applied at Big Badja. Taken together, these results point to the potential for a larger mineralised system extending beyond the shallow historical workings and provide a clear pathway for systematic follow-up exploration.” Figure 1. Big Badja Silver Mine - Cross section 10000N looking NE showing high-grade silver rock chips and open chargeability (MV/v) anomaly beneath the mine BIG BADJA SILVER MINE The historic Big Badja Silver Mine comprises a series of high-grade quartz–galena–chalcopyrite veins dipping approximately 65° east and developed along a granite–sediment contact. Mining at Big Badja ceased in 1890 for reasons that remain unclear; however, historical records, including the Warden’s Report, document exceptionally high silver grades of up to 334 oz/t Ag (9,469 g/t Ag)3 from 6m depth within the main shaft, which reportedly reached a total depth of 30m. The main shaft has since collapsed, and as a result, the interpreted ore zone is currently inaccessible. Despite the presence of these ultra-high-grade historical results, the Big Badja Silver Mine has never been assessed using modern exploration techniques, and no drilling has been undertaken to test the system at depth or along strike. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Trial IP Survey A trial IP line was completed over the Big Badja Silver Mine to determine whether the mineralised system generated a measurable chargeability response and whether that response persisted beneath the historic workings. The survey line was oriented NW-SE, extended for 1.2km, and used 25m electrode spacings. The survey confirmed a coherent chargeable anomaly beneath the historic mine, with the anomaly interpreted to remain open at depth (Fig. 1). This is significant, as it indicates that the mineralised system has a detectable IP signature and that the method may be effective in exploring for concealed or down- dip extensions to known mineralisation. When considered together with the multiple high-grade rock chip assays returned from surface material around the workings, the IP result materially upgrades the exploration potential of Big Badja and provides a strong basis for follow-up geophysical work. Rock Chip Results Two additional rock chipsampleswerecollectedduringrecentfieldworkatBigBadja. SampleEL8931-032was collected from mullock surrounding the historic shaft and comprised intensely haematite-gothite-jarosite- stained quartz veining with local fresh pyrite and galena. The sample returned an exceptional result of: • 339 g/t Ag, 1.8% Pb and 0.4 g/t Au (Fig. 2) Asecondsample,EL8931-033,wascollectedfromintenselyalteredpurpletogreenhaematite-stainedgranitic outcrop containing abundant cubic boxworks and local fresh pyrite. This sample did not return significant assay results. ThestrongresultfromEL8931-032isthehighest-gradesilverrockchipassayreturnedtodatebyExultantfrom Big Badja and further supports the Company’s previous rock chip results from the mine, including1, 2 : • 256 g/t Ag, 4.82% Pb and 0.36 g/t Au (sample 8931-006) • 108 g/t Ag (sample 8931-004) • 93.4 g/t Ag and 3.32% Pb (sample 8931-007) • 63.4 g/t Ag (sample 8931-003) These results confirm the presence of high-grade silver-lead mineralisation associated with the historic workings and support the interpretation that Big Badja represents a robust mineralised system with potential to extend beyond the shallow historical mine development. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Figure 2. 8931-032 - Intensely haematite-gothite-jarosite-stained quartz veining with minor fresh pyrite and galena - 339 g/t Ag, 1.8% Pb and 0.4 g/t Au Regional Exploration Big Badja is located on a prospective granite-sediment contact that has been mapped for more than 15km across EL8931 and EL9411. This same contact also hosts a 3km-long Pb-Zn soil anomaly located approximately 3km north of Big Badja (Fig. 3). This regional anomaly is considered particularly encouraging given the close association between elevated lead and silver mineralisation at the Big Badja Silver Mine. The presence of a large Pb-Zn anomaly along the same lithological contact may indicate the potential for another 'Big Badja-style' mineralised system elsewhere along the contact. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Figure 3. Geological map of EL8931 and EL9411 showing the 3km-long Pb-Zn soil anomaly in relation to the intrusive granite-sediment contact NEXT STEPS Planned follow-up work at Big Badja will focus on expanding the geophysical coverage and assessing the broader prospectivity of the contact zone. This work is expected to include: • Additional IP lines with longer arrays to achieve greater depth penetration beneath the historic mine • Follow-up IP surveying along strike of the prospective granite-sediment contact to test for extensions to the Big Badja system • Assessment of the suitability of IP surveying over the 3km-long Pb-Zn soil anomaly located 3km north of Big Badja The successful identification of a chargeability response at Big Badja provides an important vectoring tool for future exploration and has broadened the Company’s capacity to target silver-lead mineralisation both at the mine and across the wider Peak View Project. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Figure 4. Peak View Project - Regional geology showing key prospect locations www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 This announcement has been approved for release by the Chairman of the Board of Directors of the Company. For further information on Exultant Mining Limited please contact: Brett Grosvenor Paul Berson Exultant Mining Limited Corporate Storytime Executive Chairman Investor Relations Info@exultantmining.com.au paul@corporatestorytime.com Ph: +61 (08) 9481 0389 Ph: +61 (0) 421 647 445 1 - - See ASX 10X announcement "Exceptional Results Up to 5.42 g/t Au & 256 g/t Ag Peak View" - 21st January 2026 2 - Refer to Table 1 3 - Grunberg, M., 1972. Authority to Prospect No. 3665. 12 Months Prospecting Return and the Company's IPO prospectus dated 23 October 2025 Disclaimer Someofthestatementsappearinginthisannouncementmay beinthenatureofforward-lookingstatements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties.ThoserisksanduncertaintiesincludefactorsandrisksspecifictotheindustriesinwhichExultant operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward- looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Exultant’s control. Exultant does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Exultant, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. 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 of the date of this announcement. This announcement is not an offer, invitation or recommendation to subscribe for or purchase securities by Exultant. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Competent Person Statement The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled and reviewed by Sebastian Hind. Mr Hind is a senior geologist for Exultant Mining LimitedandaMemberoftheAustralasianInstituteofMiningandMetallurgy(Membershipnumber3116971). Mr Hind has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 (JORC Code). Mr Hind consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Table 1: Peak View Project - rock chip results SAMPLE ID MGA20z55_E MGA20z55_N Au_g/t Ag_g/t As_ppm Bi_ppm Cu_ppm Mo_ppm Pb_ppm S_% Sb_ppm Zn_ppm 8931-001 715684.9149 5996178.047 0.02 34.4 22.8 25.1 664 7.3 1460 0.19 477 49 8931-002 715654.259 5996165.26 0.101 14.4 42.9 33.4 145 3.04 649 0.03 937 8 8931-003 715659.3122 5996173.017 0.028 63.4 15 195.5 213 2.61 2990 0.06 17.35 18 8931-004 715685.5123 5996180.363 0.115 108 17 192.5 781 5.32 2310 0.2 363 10 8931-005 715651.4488 5996215.508 0.046 9.58 16.2 11.35 67.1 4.72 242 0.02 13 10 8931-006 715694.0138 5996181.93 0.364 256 30.8 686 1135 1.62 48200 0.16 3.02 8 8931-007 715696.0174 5996179.216 0.27 93.4 5.5 526 1055 2.01 33200 0.23 10 3 8931-008 715685.7032 5996180.803 0.021 29.4 5.2 75.5 1195 3.45 11400 0.4 27.2 99 8931-009 716515.1708 5995118.057 5.42 0.69 2.2 1.38 9.6 2.97 55.1 1.75 0.71 17 8931-010 716510.5147 5995119.06 2.61 1.72 2.3 4.66 13 3.01 348 0.76 0.38 24 8931-011 716665.3273 5994889.745 0.644 0.14 8.6 0.19 10.1 2.15 19.2 1.95 0.27 23 8931-012 716556.9204 5995142.666 <0.005 0.01 0.9 0.04 8.9 2.67 1.9 0.01 0.12 8 8931-013 716517.541 5995006.76 <0.005 0.02 0.8 0.05 7.8 1.55 6.7 <0.01 0.2 49 8931-014 716523.1118 5994977.314 0.175 0.04 0.8 0.6 11.9 2.66 1.4 0.4 0.14 2 8931-015 716520.6589 5994980.039 50.9 5.68 11.2 1.82 15.4 10.85 43.6 0.4 0.74 59 8931-016 716520.5065 5994981.153 0.302 0.03 1 0.07 5.3 1.5 4.4 0.05 0.18 11 8931-017 716492.7412 5994914.233 0.023 0.04 1.6 0.3 5.2 6.42 12.8 0.01 9.67 19 8931-018 716558.8022 5994884.729 1.095 0.22 126 7.26 1080 12.55 92.7 0.06 0.66 41 8931-019 716561.3037 5994880.337 12.55 1.42 34.5 5.77 71.6 5.16 123.5 0.11 0.43 19 8931-020 716589.4031 5994862.766 0.209 0.04 2 0.4 5.8 2.45 6.8 0.02 0.22 9 8931-021 716601.246 5994853.923 0.09 1.58 3 11.55 11.6 3.65 211 0.07 0.23 9 8931-022 716601.38 5994855.696 0.068 2.92 5.8 16.65 46.6 4.13 442 0.13 0.21 14 8931-023 716632.1753 5994783.549 0.13 0.47 7.3 202 496 5.35 23.6 0.04 0.4 23 8931-024 716585.2114 5994900.615 0.247 0.07 12.4 1.01 3.7 2.15 17.6 0.39 0.27 21 8931-025 716578.6695 5994814.74 1.22 0.33 2.7 1.68 12.7 4.04 8 0.05 0.18 6 www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 8931-026 716577.7515 5994817.649 8.41 0.65 10.9 2.51 114 3.08 44.8 0.03 0.22 17 8931-027 716860.901 5994547.842 0.113 0.03 1.1 7.02 65.5 4.25 4.9 <0.01 0.24 14 8931-028 716656.9562 5994893.394 6.39 1.6 10.9 1.8 6.3 2.91 9.3 2 0.23 8 8931-029 716659.3191 5994890.671 1.815 0.72 6.2 1.02 5.8 2.75 8.7 2.08 0.17 6 8931-030 716644.9527 5994892.138 0.117 0.17 14.4 0.48 4.8 4.22 7.1 0.24 0.15 6 8931-031 716644.8159 5994890.254 0.421 0.58 9.3 0.36 8.2 2.28 4.6 1.36 0.13 7 8931-032 715680.3623 5996183.266 0.412 339 51.3 708 1030 11.8 17900 1.43 1495 12 8931-033 715648.2759 5996200.045 0.04 1.94 11.4 5.95 31.3 1.28 450 0.61 2.88 9 9411-001 713354.5266 6006858.249 0.011 0.95 5.5 5.48 30.1 3.8 361 0.04 0.82 3 9411-002 713447.3868 6006855.321 0.01 0.93 71.6 2.46 505 7.42 3950 0.02 12.95 1045 9411-003 713397.4789 6006982.312 0.173 0.5 431 0.45 222 7.16 1740 0.06 14.25 768 9411-004 713398.2194 6006979.408 0.025 2.57 351 41.5 1610 25.2 2920 0.06 31.3 1165 9411-005 713000.0588 6007764.836 0.023 0.14 197.5 0.97 63.8 3.59 79.9 0.02 6.44 78 9411-006 714074.8554 6007203.021 0.008 0.11 5.5 0.94 134.5 1.02 134 0.04 1.73 235 9411-007 713625.1539 6005152.295 0.01 0.07 518 0.06 158.5 3.05 66.4 0.02 23.6 4060 *New results shown in grey www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Appendix A: Peak View JORC Code, 2012 Table Section 1 Sampling Techniques and Data Criteria JORC Code Explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. 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 (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information. Geophysics • The geophysical program comprised an induced polarisation (IP) line over the Big Badja Silver Mine. The IP survey was designed as a time-domain dipole-dipole survey with 25m receiver dipole length and 25m transmitter dipole length. • Survey parameters included up to n=16 levels, signal dependent, with a 2 second cycle (0.125 Hz). • The planned survey comprised one north west-south east oriented line of approximately 1,200m long Rock Chip Sampling • Rock Chips are broken from outcrop or float using a steel Estwing geological hammer, the entire sample (nominal 0.5kg) is pulverised to produce a 30g charge for fire assay (Au-AA23) to analyse for Au and 0.25g is used for multi- element analysis (ME-MS61), where it uses a four acid digestion to dissolve nearly all minerals. It’s then measured using a mass spectrometer and optical emission spectrometer. • Sample locations are marked using handheld GPS • Sampling is conducted by Company personnel • Lithology, alteration and mineralogy are logged in the field and entered into a spreadsheet by a company geologist Historic sampling • Historic sampling includes: www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary o Stream sediment sampling by multiple explorers (WMC 1971, Delta Gold 1993). o Soil sampling campaigns by WMC at Peak View Prospect. o Drilling by WMC during 1978-82 period (14 holes), Denehurst in 1995-96 (2 holes) and Ironbark Zinc during 2010-2012 (11 holes) at Peak View Prospect with 1,170 samples analysed for Cu, Pb, Zn, As, Ag. Some of the samples were assayed for Au. • Analytical methods included AAS and fire assay; however, QAQC protocols from 1975-1995 are not consistently documented in available reports. • Rock chips collected by Peak View Exploration were pulverized to produce a 25g charge for aqua regia digestion with a MS analytical finish to analyze for 52 elements (AR25/MS52) Drilling Techniques • Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. 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). • 27 drill holes completed historically between 1975-2012, comprising: o WMC 1978 – 1982: 14 diamond drillholes for total of 1,852 metres with an average of 132 m. o Denehurst 1995-96: 2 diamond drillholes for total of 291 m. o Ironbark Zinc 2010-2012: 11 diamond drill holes for total of 1,710 m. • Hole orientations generally –60° toward local grid west. • Diamond holes were NQ/HQ Size. • Drilling unit was track mounted. • Core orientation methods not documented in available reports. 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 • Recovery records are limited or inconsistently reported in historic drilling programs. • No systematic recording of core recovery or sample quality documented for early programs (1975-1995). • Potential sample bias due to preferential loss in broken ground zones cannot be assessed from available data. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary may have occurred due to preferential loss/gain of fine/coarse material. 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. • Historic core has been geologically logged to varying standards depending on the operator and time period. • Logging generally qualitative in nature, focusing on lithology, alteration, and mineralisation. • Core photography not systematically undertaken in early programs. • Detailed structural logging limited, though some programs noted shear- foliation oriented N-S with steep dip. • Most intersections appear to have been logged, though detail level varies significantly between operators. Subsampling 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 insitu 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 • Core sampling methods are not consistently documented across all historic programs. • RC samples collected at 0.66 m intervals in most programs; Diamond drilling samples collected at 0.1 m intervals. • Sample preparation procedures varied between operators and time periods. • No documented field duplicate or second-half sampling programs. • Quality control procedures for sub-sampling are not systematically documented for early programs. • Rock Chips are broken from outcrop or float using a steel Estwing geological hammer, the entire sample (nominal 0.5kg) is pulverised to produce a 30g charge for fire assay (Au-AA23) to analyse for Au and 0.25g is used for multielement analysis (ME-MS61), where it uses a four-acid digestion to dissolve nearly all minerals. It’s then measured using a mass spectrometer and optical emission spectrometer. • Rock chips collected by Peak View Exploration were pulverized to produce a 25g charge for aqua regia digestion with a MS analytical finish to analyze for 52 elements (AR25/MS52) • In-Lab QA/QC procedures include insertion of standards, blanks and www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary duplicates, grind checks and repeat analyses are standard procedure. • A 0.5kg sample size for a Rock Chip is an acceptable industry standard and considered appropriate for the style of mineralisation being targeted and the grain size of the rock being sampled. 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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • Geophysical data were acquired by Fender Geophysics Pty Ltd using industry-standard IP instrumentation. The IP survey utilised a GDD RX-32 16-channel receiver, Instrumentation GDD TxII transmitter, Kubota 9 kVA generator, non-polarising porous pot receiver electrodes, multicore dipole- dipole receiver cable and aluminium plate transmitter electrodes. • . • IP data were downloaded daily and reviewed in the field by the survey manager to monitor data quality. Following field review and backup, data were emailed daily to Fender’s Sydney office for additional quality control and preparation of pseudosection plots using TQIPdb software. • Historic assaying conducted using: o Fire assay for gold analysis (considered total extraction method) o Atomic Absorption Spectroscopy (AAS) for gold and base metals. • Laboratories used not consistently documented. • QAQC procedures: Standards, blanks, and duplicates not systematically implemented in early programs (1975-1995). • Modern program (Ironbark 2007-2012) implemented better QAQC, but specific details not provided in available reports. • No documented external laboratory checks or round-robin testing. • Previous rock chip program (Peak View Exploration 2022-2023) implemented sound QAQC consisting of duplicates, standards (OREAS622 & OREAS232b) and blanks • The latest program (Exultant Mining 2025 - Present) uses ALS Orange and considers its procedures for sample preparation, fusion and analysis industry standard. • In-Lab QA/QC procedures include insertion of standards, blanks and www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary duplicates, grind checks and repeat analyses are standard procedure. • A 0.5kg sample size for a rock chip sample is an acceptable industry standard and considered appropriate for the style of mineralisation being targeted and the grainsize of the rock being sampled. • QA/QC samples are behaving within acceptable thresholds. • Accuracy and precision levels are not established for historic data. 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 • Geophysical data quality was reviewed daily in the field and independently checked by Fender Geophysics’ Sydney office. For the IP survey, daily reviewed outputs included located data in Geosoft format, raw GDD instrument dump files (if required), updated progress maps, pseudosection plots, and field notes regarding cultural features or other factors that may have caused spurious responses. • Limited verification of significant intersections documented. • Data entry and verification procedures not documented for most historic programs. • Primary data storage protocols vary by operator - some data may be housed with NSW Department of Primary Industries. • No systematic independent verification of historic results undertaken. • Data acquired during logging of rock chip samples is captured in Microsoft Excel and incorporated into the digital database Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Fender crews located survey stations and lines using handheld GPS receivers prior to, or at the same time as, the geophysical surveying. IP survey positioning used Garmin GPS62 handheld GPS units. The project is located near Cooma in southern New South Wales. • Historic survey methods not consistently documented. • Local grid systems used by different operators (WMC) may not be consistent. • Coordinate system conversions between different programs may introduce errors. • Down-hole surveys: Methods not documented for most programs. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary • Topographic control: Adequate for the low-relief terrain (maximum relief ~700 m). • Grid system: Various local grids used historically; modern programs used MGA94 Zone 55. • Collar survey accuracy estimated at ±5-10 m for early programs, improving to ±1-2 m for modern programs (Ironbark). • Exultant data points in the field are collected using a handheld Garmin GPSMAP® 65S MULTI-BAND Data spacing and distribution • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure