Announcement PDF Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 13 October 2026 www.exultantmining.com.au SOIL SURVEY DEFINES 2.4KM COPPER-ZINC CORRIDOR AT UNDRILLED WATSONS PROSPECT HIGHLIGHTS • Modern pXRF soil survey (190 reading, nominal 50m × 100m grid) reproduces and infills historic 1970’s copper–zinc anomalism at the Watsons prospect, Black Hammer Project, Macquarie Arc, NSW • Copper–zinc anomalism defined along an approximately 2.4km north- northeast trending corridor, remaining open to the north and south, with a peak reading of 330ppm Cu in the southern zone • A newly identified northern lead anomaly, approximately 100m × 300m, returned pXRF readings up to 758ppm Pb, coincident with copper and zinc anomalism • Strongest responses are associated with altered volcanic rocks and quartz veining, coincident with magnetic features • Watsons has never been drill tested • Proposed follow-up includes extensions to the survey subject to additional land access agreements, and assessment of ground magnetic and induced polarisation surveys Exultant Mining Limited (ASX: 10X) (“Exultant” or “the Company”) reports results from a portable X- ray fluorescence (pXRF) soil survey at the Watsons prospect, within EL9332 at the Company's 100%- owned Black Hammer Project in the Macquarie Arc, New South Wales (Fig. 1). The survey has defined copper–zinc soil anomalism along an approximately 2.4km north-northeast trending corridor, which remains open to the north and south. The program was designed to assess the reproducibility of historic soil anomalies identified during exploration in the 1970s1,2 and provide infill measurements across the anomalous areas. The results reproduce the principal copper–zinc anomalous pattern and identify an additional coincident lead– copper–zinc target in the northern part of the prospect. Watsons has not been drill tested. Comment from Executive Chairman, Brett Grosvenor: "When we redeployed the team from Balerion, we flagged Watsons as the immediate opportunity at Black Hammer, and this survey shows why. Our soil work has reproduced the copper-zinc pattern first identified in the 1970s and tightened it into a corridor extending approximately 2.4 kilometres, open to the north and south, with a new lead-copper-zinc anomaly in the north. The strongest soil responses sit over altered volcanic rocks and coincide with magnetic features, so our next step is to extend the survey and assess the possible use of ground magnetics and IP to look for Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au sulphide-bearing zones at depth. That's the approach we've committed to: low-cost, focused fieldwork to build the evidence, then advance the best positions toward drilling." Cautionary statement—pXRF results All new copper, lead and zinc soil results reported in this announcement were obtained using portable X- ray fluorescence (pXRF) and have not been verified by laboratory assays. The readings are preliminary field measurements used to assess soil geochemical anomalism and should not be regarded as a substitute for laboratory analysis. Subsequent laboratory results may differ from the reported pXRF readings. Soil anomalism does not establish the grade, thickness, continuity or economic significance of underlying bedrock mineralisation. Figure 1. Location of the Watsons prospect within the broader Black Hammer project on Lachlan Orogen geology Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au RESULTS The survey comprised 190 direct in-ground pXRF measurements on a nominal 50 m × 100 m grid, taken at approximately 15 cm depth and targeting the B soil horizon. Measurements were omitted where excessive soil moisture prevented sampling, including within the central swampy drainages. The individual pXRF readings and measurement locations are presented in Table 1 and are preliminary and have not been verified by laboratory assays. Full survey methodology and QA/QC details are provided in Appendix 1 – JORC Code Table 1. Maximum field readings were 330ppm Cu, 529ppm Zn and 758ppm Pb. Copper and zinc anomalism occurs within an approximately 2.4km-long, north-northeast trending corridor, with the principal responses occurring in the northern and southern parts of the prospect (Fig. 2). The strongest responses are associated with outcropping and subcropping altered volcanic rocks with abundant quartz veining. The intervening swampy drainage includes areas where excessive soil moisture prevented pXRF measurements, resulting in gaps in survey coverage. These unsampled locations do not provide evidence of either anomalous or background metal concentrations. The Company interprets drainage cover as potentially masking the surface expression of an underlying bedrock source; continuity of anomalism through this covered interval remains to be tested. Lead readings were generally subdued across the survey, except for a newly identified anomaly measuring approximately 100m × 300m in the northern part of the prospect (Fig. 2). This zone returned pXRF readings up to 758ppm Pb and coincides with copper and zinc anomalism, providing an additional focus for follow up investigation. The copper–zinc anomalous corridor remains open to the north and south beyond the current survey coverage. Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au Figure 2. (Top left) pXRF Cu-in-soil anomaly over Lachlan Orogen geology at the Watsons prospect with a peak value of 330ppm Cu. (Top right) pXRF Zn-in-soil anomaly over Lachlan Orogen geology at the Watsons prospect with a peak value of 529ppm Zn. (Bottom left) Northern pXRF Pb-in-soil anomaly over Lachlan Orogen geology at the Watsons prospect with a peak value of 758ppm Pb Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au GEOLOGICAL SETTING Watsons comprises gently rolling hills separated by broad swampy drainages, with bedrock exposure concentrated along ridges. The prospect is underlain predominantly by andesitic volcanic and volcaniclastic rocks mapped as part of the Ordovician Rockley Volcanics, together with local quartz– feldspar porphyry bodies. The Rockley Volcanics form part of the Rockley–Gulgong Volcanic Belt within the broader Macquarie Arc. Historic mapping and petrography described a sequence dominated by andesitic tuffs, including vitric and lithic crystal tuffs displaying variable metamorphism. Quartz–feldspar porphyry occurs principally in the eastern part of the prospect and was interpreted as potentially representing either a felsic volcanic unit or an intrusive dyke associated with regional granite intrusions. Historic exploration documented quartz veins and stringers within fractured volcanic rocks and quartz– feldspar porphyry, locally containing pyrite and minor chalcopyrite1 . The principal historic base metal anomaly was associated with the eastern vein and stringer zone, with more patchy zinc anomalism over the western quartz vein zone. The strongest parts of the soil anomalies also coincide with subtle features in the total magnetic intensity (“TMI”) data (Fig 3). These associations support assessing the efficacy of complementary ground magnetic and induced polarisation (“IP”) surveys for future exploration. HISTORIC EXPLORATION Watsons was initially identified through regional stream sediment sampling by Platina Developments in 1971. The program covered the original historical exploration licence, approximately 270 square miles (700km²), at a density of approximately 10 samples per square mile (3.9 samples/km²)1 . The −80 mesh fraction was analysed for copper, lead, zinc, cobalt and nickel. Two samples were reported as anomalous in lead, while seven samples were anomalous in copper and zinc in the vicinity of what is now the Watsons prospect. Initial follow-up soil sampling by Platina Developments (Mines Search) comprised lines spaced approximately 244m or 488m apart (800 or 1,600 feet), with samples collected at approximately 30.5m intervals along the lines (100 feet). The −80 mesh fraction was analysed for copper, lead and zinc by atomic absorption spectrometry (“AAS”)2 . This program covered approximately 800m of strike. Asarco subsequently completed five additional soil sampling lines at irregular intervals, comprising two lines south and three lines north of the original Platina program. These extensions increased the overall strike length covered by soil sampling to approximately 2.4km1 . ASARCO reported copper, lead and zinc results; the sieve fraction used was not specified in the historical reporting. Historic soil sampling delineated north-northeast trending copper–zinc anomalism, with reported peak values of: • 1,250ppm Cu1 • 410ppm Pb1 • 3,300ppm Zn1 Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au A higher historical zinc result of 2% Zn, from a sample collected close to a galvanised fence, was considered potentially affected by contamination and has been excluded from these quoted maxima. Comparisons between the historical and current datasets focus on the spatial distribution of anomalism and take account of differences in sample preparation and analytical methods. Figure 3. (Left) Spatial relationship between pXRF Cu-in-soil anomaly and subtle TMI anomaly (blue shells). (Right) Spatial relationship between pXRF Zn-in-soil anomaly and subtle TMI anomaly (blue shells) NEXT STEPS The Company intends to progress exploration at Watsons through the following activities: • Extend the pXRF soil survey to the northeast and south, where the Cu–Zn anomalism remains open, subject to securing additional land access agreements • Assess options for follow-up soil sampling and laboratory analysis to further evaluate selected pXRF anomalies • Assess the suitability of ground magnetic and induced polarisation (IP) surveys to refine the geological interpretation and investigate potential sulphide accumulations at depth Any follow-up laboratory soil sampling or geophysical surveys would be subject to securing the necessary land access agreements and finalising the scope of the proposed work. Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au 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 - Asarco (Australia) Pty Ltd (1974). Final Report on E.L. 371, Oberon, N.S.W. DIGS Report: R00023205 (GS1974/211) 2 - Platina Developments N.L. (1972). Exploration License No.371. Quarterly Report No. 7. DIGS Report: R00022915 (GS1972/011) Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au ABOUT THE BLACK HAMMER PROJECT The Black Hammer Project covers approximately 390 km² in New South Wales and includes the Porters Retreat (EL9332), Tuglow (EL9826) and Swatchfield (EL9913) tenements, located 130 km west of Sydney near Oberon. Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au 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. Competent Person Statement The information in this announcement that relates to Exploration Results is based on, and fairly represents, informationcompiledandreviewedbySebastianHind.Mr Hind isanExplorationManagerforExultantMining 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. Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au Table 1. Watsons Prospect In-Ground pXRF Soil Measurement Results SAMPLE ID MGA20z55_E MGA20z55_N RL Cu (ppm) Pb (ppm) Zn (ppm) WS001 763699.1 6243650.6 1241.768 75 31 82 WS002 763652.3 6243649.5 1245.397 57 30 57 WS003 763603.7 6243652.4 1240.294 35 17 73 WS004 763497.3 6243656.4 1242.112 66 26 63 WS005 763449.7 6243651.8 1245.75 42 17 38 WS006 763399.2 6243655.3 1246.035 42 19 39 WS007 763352.2 6243550 1236.86 28 24 53 WS008 763399.5 6243550.8 1236.896 32 12 28 WS009 763446.2 6243552.9 1232.577 56 22 73 WS010 763500.4 6243549.7 1235.089 63 16 104 WS011 763550.2 6243552.2 1231.975 54 13 70 WS012 763599.5 6243548.9 1229.973 35 28 64 WS013 763650 6243548.6 1228.688 70 105 113 WS014 763701 6243549.6 1229.897 34 78 137 WS015 763702.6 6243450.6 1222.731 50 60 109 WS016 763649.5 6243451.3 1224.502 36 22 54 WS017 763600.1 6243455.2 1225.01 37 24 60 WS018 763550 6243450.7 1226.298 28 25 82 WS019 763499.2 6243450 1227.145 33 19 92 WS020 763450.1 6243450.5 1229.537 81 30 188 WS021 763397.1 6243452.5 1230.28 70 174 105 WS022 763349.3 6243452.4 1232.73 51 74 144 WS023 763298.9 6243453.7 1235.455 54 27 95 WS024 763247.5 6243449.3 1234.973 34 9 39 WS025 763199.1 6243449.7 1236.023 31 16 46 WS026 763201.6 6243346.6 1231.909 29 13 86 WS027 763252.8 6243348.8 1232.833 44 11 81 WS028 763301.2 6243350.2 1232.484 37 19 72 WS029 763350.2 6243349.9 1231.453 72 111 65 WS030 763399 6243352.5 1232.682 66 64 72 WS031 763449.9 6243349.8 1229.69 138 235 202 WS032 763501.8 6243352.4 1227.507 57 48 59 WS033 763551.4 6243351.1 1227.809 54 75 89 WS034 763600.2 6243344.5 1223.955 70 55 118 WS035 763650.7 6243349.8 1220.846 69 60 162 Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au WS036 763701 6243350.4 1219.234 32 16 84 WS037 763697.6 6243247.4 1219.705 86 71 311 WS038 763647.8 6243250.2 1223.009 87 60 200 WS039 763599 6243249.9 1224.934 110 85 268 WS040 763548.3 6243248.8 1227.992 83 18 94 WS041 763498.5 6243249.3 1226.423 49 67 109 WS042 763449.6 6243250.1 1226.701 66 70 109 WS043 763399.5 6243250.4 1227.949 155 300 299 WS044 763348.3 6243249.6 1228.405 71 108 171 WS045 763300.6 6243250.8 1228.787 46 26 145 WS046 763248.4 6243251.5 1228.374 27 11 38 WS047 763198.6 6243250 1229.887 35 8 54 WS048 763148.3 6243250.2 1231.847 34 <LOD 44 WS049 763052.8 6243147.7 1228.716 37 19 64 WS050 763101.3 6243149 1228.217 37 17 52 WS051 763200.2 6243150.1 1225.994 30 10 29 WS052 763249.9 6243149.5 1226.759 56 18 98 WS053 763300.3 6243149.1 1224.802 52 31 131 WS054 763351.9 6243153.3 1226.728 149 546 529 WS055 763399.3 6243149.9 1224.839 181 758 520 WS056 763452.6 6243150.7 1220.227 54 28 102 WS057 763500.2 6243149.2 1222.125 61 36 91 WS058 763551.1 6243151.2 1221.16 170 23 456 WS059 763599.8 6243150.4 1221.711 60 11 110 WS060 763649.2 6243147.2 1219.37 66 23 159 WS061 763600.6 6243049.7 1220.658 64 25 169 WS062 763549.5 6243049.8 1221.172 51 5 99 WS063 763502.3 6243049.5 1219.882 97 13 267 WS064 763443 6243063.6 1217.989 91 8 98 WS065 763349 6243049.9 1219.479 33 13 97 WS066 763299.3 6243052.3 1220.755 37 16 75 WS067 763249.1 6243051.6 1221.949 42 41 89 WS068 763200.8 6243050.1 1223.401 37 12 49 WS069 763150.3 6243050.7 1224.531 36 14 56 WS070 763100.6 6243050.9 1222.097 34 11 58 WS071 763102.9 6242951.6 1220.587 37 9 46 WS072 763149.2 6242949.9 1221.448 31 71 45 Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au WS073 763200.3 6242949.5 1223.071 33 11 56 WS074 763248.9 6242951.2 1219.673 24 16 51 WS075 763300.6 6242950.3 1221.584 33 13 47 WS076 763348.7 6242949.5 1219.232 55 28 109 WS077 763399.4 6242950.3 1217.994 39 41 126 WS078 763449.2 6242948.8 1221.8 144 14 309 WS079 763499.3 6242948.6 1220.297 33 <LOD 86 WS080 763548.6 6242950.1 1223.957 74 25 192 WS081 763499.2 6242852.4 1221.365 109 33 350 WS082 763351.9 6242849.7 1218.801 38 24 83 WS083 763302.1 6242849.9 1217.92 32 <LOD 58 WS084 763249 6242849.6 1220.965 30 8 55 WS085 763190 6242872 1221.295 29 6 38 WS086 763150.9 6242876.4 1220.675 33 7 41 WS087 763099.6 6242851.7 1223.633 38 12 57 WS088 763050.7 6242851.7 1223.601 26 5 44 WS089 763050 6242748.7 1222.837 37 7 44 WS090 763102.2 6242749 1224.669 22 11 35 WS091 763149.9 6242749.9 1220.45 23 6 21 WS092 763198.2 6242750.5 1219.047 25 <LOD 26 WS093 763350.1 6242748.2 1217.748 35 12 45 WS094 763407.8 6242752.5 1216.381 84 17 136 WS095 763352.6 6242650.1 1214.081 48 34 95 WS096 763298.7 6242651.8 1215.022 33 6 28 WS097 763251.6 6242649 1217.461 23 7 33 WS098 763190.3 6242647.9 1220.049 36 10 68 WS099 763151.6 6242651.5 1221.364 26 <LOD 56 WS100 763100.5 6242648.4 1222.37 19 <LOD 27 WS101 763059.9 6242645.3 1221.822 34 7 48 WS102 763035.1 6242550.5 1228.33 46 17 74 WS103 763154.6 6242559.7 1218.954 40 6 69 WS104 763200.5 6242559.5 1219.853 38 <LOD 33 WS105 763248.4 6242557.7 1216.911 25 <LOD 26 WS106 763300.5 6242554.2 1213.567 25 7 45 WS107 763249.2 6242450.9 1217.178 35 9 29 WS108 763137.6 6242454.2 1221.807 35 9 49 WS109 763073.5 6242450.3 1224.52 30 7 29 Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au WS110 763050 6242449.3 1224.448 42 11 36 WS111 763003.3 6242450.1 1224.963 36 10 42 WS112 763000.8 6242351.5 1226.161 44 9 64 WS113 763049.3 6242348.4 1223.995 44 6 36 WS114 763095.8 6242350 1224.212 37 16 48 WS115 763146.9 6242350.9 1222.276 40 13 38 WS116 763198 6242351 1216.996 29 6 30 WS117 763237.8 6242348.2 1218.392 40 9 49 WS118 763200.7 6242249.5 1220.224 45 <LOD 60 WS119 763149.8 6242250.6 1220.371 34 10 52 WS120 763093.7 6242229.3 1221.863 76 7 75 WS121 763052 6242234.6 1223.262 33 6 37 WS122 762997.7 6242234.4 1223.715 35 7 32 WS123 762945.9 6242248.8 1224.452 36 9 74 WS124 762901.3 6242241.7 1226.832 36 10 33 WS125 762850.9 6242126 1227.64 38 6 33 WS126 762901.1 6242115.8 1235.835 28 4 38 WS127 762952.6 6242151.4 1228.775 33 11 49 WS128 762999.6 6242149.1 1224.597 41 7 123 WS129 763106 6242147.7 1224.667 51 13 77 WS130 763153.7 6242150.8 1224.148 73 13 88 WS131 763049.4 6242052.4 1228.771 52 17 79 WS132 762999.4 6242050.7 1227.596 56 19 74 WS133 762952.3 6242048.3 1228.007 53 10 80 WS134 762897.5 6242056.7 1226.29 60 <LOD 74 WS135 762842.1 6242057.4 1227.13 38 5 57 WS136 762798.2 6242049 1229.403 30 7 58 WS137 762746.9 6241949.8 1237.678 46 5 74 WS138 762800 6241949.7 1233.64 42 <LOD 60 WS139 762899.2 6241948.9 1232.698 115 15 116 WS140 762952.1 6241947.4 1234.812 53 5 82 WS141 762848.7 6241849.8 1242.307 185 30 146 WS142 762799.4 6241850.2 1240.757 129 20 186 WS143 762747.8 6241852.2 1237.062 57 8 81 WS144 762700 6241851.7 1242.129 37 6 57 WS145 762650.4 6241849.2 1243.229 67 7 96 WS146 762599.7 6241850.4 1247 61 5 76 Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au WS147 762549.9 6241849 1249.307 58 10 80 WS148 762499.5 6241850.1 1250.48 48 <LOD 51 WS149 762448.8 6241851.1 1249.161 61 8 61 WS150 762401.4 6241749.8 1253.97 83 <LOD 70 WS151 762349.7 6241750.4 1254.1 75 9 93 WS152 762298.3 6241752.2 1254.13 32 6 38 WS153 762249.1 6241749.4 1255.57 32 8 39 WS154 762450 6241748.9 1252.955 42 7 57 WS155 762500 6241749.3 1251.357 60 7 67 WS156 762551.1 6241749.6 1248.606 28 8 51 WS157 762598.5 6241750.8 1243.443 36 7 60 WS158 762651.2 6241750.7 1243.75 56 9 73 WS159 762694.6 6241748.4 1240.042 43 <LOD 60 WS160 762749.7 6241748.7 1244.79 96 33 177 WS161 762797.7 6241750 1250.794 37 12 123 WS162 762766.5 6241640.2 1249.133 112 11 176 WS163 762749.5 6241651.3 1248.016 144 11 166 WS164 762702.5 6241648.4 1244.696 330 7 152 WS165 762638.4 6241652.4 1243.93 60 <LOD 113 WS166 762598.7 6241651.7 1244.438 40 7 68 WS167 762544.1 6241650.6 1245.453 43 5 59 WS168 762501.7 6241650.5 1248.837 51 7 60 WS169 762450.4 6241648.6 1250.952 45 <LOD 109 WS170 762400.9 6241650.5 1254.889 59 <LOD 52 WS171 762351.8 6241650.2 1257.706 57 <LOD 134 WS172 762298.9 6241646.4 1261.159 111 8 115 WS173 762251.2 6241643.3 1258.736 63 14 105 WS174 762204.6 6241619.2 1262.188 49 11 59 WS175 762150.7 6241604 1262.489 46 5 112 WS176 762100.5 6241656.6 1260.328 30 9 30 WS177 762050.5 6241651.5 1258.938 43 10 36 WS178 762052 6241554.3 1259.141 48 22 32 WS179 762103.4 6241547.5 1259.396 51 7 58 WS180 762148.2 6241545.7 1261.98 44 8 30 WS181 762196.3 6241555.4 1265.014 98 <LOD 106 WS182 762248.5 6241555.7 1266.123 37 <LOD 75 WS183 762350.8 6241552.7 1264.444 44 7 71 Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au WS184 762400 6241550.4 1261.582 45 6 64 WS185 762451.1 6241549.4 1254.836 51 <LOD 66 WS186 762499.8 6241553.2 1248.413 39 6 61 WS187 762602.1 6241548.5 1248.121 63 9 111 WS188 762653.1 6241551.2 1250.347 61 14 70 WS189 762700.5 6241549.4 1252.273 85 41 174 WS190 762745 6241549.6 1252.896 106 29 112 The Cu, Pb and Zn results in Table 1 are preliminary in-ground pXRF readings and have not been verified by laboratory assays. Any subsequent laboratory results may differ. Soil anomalism does not establish the grade, thickness, continuity or economic significance of underlying bedrock mineralisation. LOD = limit of detection. <LOD indicates a result below the instrument’s limit of detection for the relevant element and does not represent a zero concentration. Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 www.exultantmining.com.au Appendix 1: Black Hammer JORC Code, 2012 Table 1 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. • Direct in-ground portable X-ray fluorescence (pXRF) measurements were undertaken at Watsons to assess the spatial distribution of historical Cu–Zn–Pb soil anomalism and infill the historical sampling coverage. Approximately 15 cm deep holes were excavated using an Estwing hammer, targeting the B soil horizon. Measurements were taken directly on exposed soil within the holes. Locations with excessive soil moisture, particularly within swampy drainages, were omitted. The survey comprised 190 measurement locations. Readings were taken from the base of each hole with one reading per sample location. • Platina Developments initially identified Watsons through regional stream sediment sampling in 1971. Stream sediment samples were sieved to −80 mesh and analysed for Cu, Pb, Zn, Co and Ni. Subsequent soil sampling by Platina Developments (Mines Search) used the −80 mesh fraction, with Cu, Pb and Zn analysed by atomic absorption spectrometry (AAS). ASARCO subsequently undertook additional soil sampling, reporting Cu, Pb and Zn. The soil horizon, collection depth and sample mass used in the historical soil programs are not known from the available information. Where historical sampling, preparation or analytical details are not recorded in the source reports available to Exultant, this limitation is acknowledged and the data are used for early-stage target generation only. Drilling Techniques • Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core • No drilling has been completed by Exultant at the Black Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au Criteria JORC Code Explanation Commentary 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). Hammer Project and no new drilling results are reported in this announcement. • The Watsons, Porters Retreat and Vermithor priority targets have not been drill tested. • Historical drilling elsewhere within the broader Black Hammer tenure includes shallow aircore drilling within EL9332, historical diamond drilling at the Tuglow Copper Mines within EL9826, and 50 RAB holes for 374m and two RC holes for 77m at the Swatchfield Prospect within EL9913. • The historical drilling elsewhere within the project does not directly test the three priority targets described in this announcement and is included only as project context. 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 loss/gain of fine/coarse material. • No drill results are reported in this announcement and drill sample recovery is therefore not material to understanding the Watsons, Porters Retreat or Vermithor exploration results. • Recovery information for historical drilling elsewhere within the broader project is variably documented and has not been relied upon to define or rank the three priority targets. 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. • No new drill core or drill chips are reported in this announcement. Historical drill logging elsewhere within Black Hammer is not material to the definition of the Watsons, Porters Retreat or Vermithor targets. 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 o