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 21st July 2026 www.exultantmining.com.au HISTORIC TUGLOW DRILL CORE REVEALS GOLD AND SILVER IN PREVIOUSLY UNSAMPLED QUARTZ VEINING HIGHLIGHTS • Previously unsampled historic drill core from the Tuglow Copper Mines has returned anomalous gold, silver and base metal mineralisation • Results confirm gold and silver anomalism in quartz veining previously considered barren by historic explorers • Best result from TDDH1 returned: o 21.1m @ 0.18g/t Au and 2.1g/t Ag from 3.4m including o 4.5m @ 0.26g/t Au & 4.7g/t Ag from 20m including o 0.5m @ 0.33g/t Au & 1.29% Zn from 24m • TDDH2 returned narrow high-grade base metal intervals including: o 0.35m @ 3.05% Zn & 0.14% Pb from 45.2m; and o 0.2m @ 1.7% Cu from 54.1m • Results improve Exultant's geological understanding of the Tuglow mineral system, supporting further exploration of the broader one- kilometre mineralised corridor. Exultant Mining Limited (ASX: 10X) (“Exultant” or “the Company”) is pleased to announce assay results from recently sampled intervals of historic diamond drill core from the Tuglow Copper Mines, located within EL9826 at the Company’s Black Hammer Project in New South Wales. Comment from Executive Chairman, Brett Grosvenor: "One of the most encouraging aspects of this work is that we've confirmed gold and silver anomalism in quartz veining that historic explorers considered barren and never assayed because their focus was on high-grade sulphide mineralisation. Revisiting these historical workings with a fresh geological perspective has improved our understanding of the broader Tuglow mineral system. We believe these results support the potential for additional mineralisation beyond the narrow sulphide lodes that were historically mined. As we continue compiling historical information and planning the next phase of exploration, we look forward to further advancing the Black Hammer Project." 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 OVERVIEW The Tuglow Copper Mines comprise three historic mines — Cotton & Frazer’s, Cunningham’s and Tuglow Copper Mine (previously known as Bourchier’s) — situated on sub-parallel north–south striking lodes over a combined strike length of more than 1km. Historic mining and sampling reportedly returned grades of up to 14% Cu, 23.02% Pb, 13.1% Zn, 283g/t Ag and 26.4g/t Au¹. The workings are hosted within sedimentary and volcanic rocks of the Rockley Volcanics (Fig. 1), the easternmost succession of the Macquarie Arc. The Macquarie Arc is a highly endowed metallogenic province that hosts several major porphyry and epithermal mineral systems, including the Cadia Valley, Northparkes and Cowal deposits. Figure 1. Location of Tuglow Copper Mines within EL9826 overlain 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 HISTORIC DRILLING Historic diamond drill holes TDDH1 and TDDH2 were drilled by Le Nickel Exploration in 1974 to test induced polarisation (“IP”) anomalies associated with the Tuglow workings (Fig. 2). TDDH1 TDDH1 was drilled to a total depth of 152.5m and was designed to test an IP anomaly in the vicinity of the Tuglow Mine. The hole was collared approximately 90m west of the old shaft at the Tuglow Mine and drilled on an azimuth of 090° (mag) with a dip of -80°. The target was interpreted to be the down- dip extension of the orebody historically worked at the mine, which was reported to strike approximately 007° and dip west at 38°. TDDH1 intersected alternating siltstone, tuffaceous siltstone, andesitic tuff, lapilli tuff and agglomerate. Historic logging reported disseminated sphalerite, galena, chalcopyrite and pyrite hosted in quartz breccia zones with a quartz–chlorite–rock fragment gangue2 . Massive Zn-Pb-Cu sulphide mineralisation of the type present in the Tuglow Mine workings was not intersected. Two intervals were historically sampled by Le Nickel from 132.8m to 134.3m and 134.3m to 136.0m. The best historic result from TDDH1 was: • 3.2m @ 3g/t Ag, 0.03% Cu, 0.07% Pb & 0.04% Zn from 132.8m3 Gold was reported below the limit of detection in the historically sampled intervals. TDDH2 TDDH2 was drilled to a total depth of 154.85m and was designed to test a weaker IP anomaly north of the Cotton & Frazer’s workings. The hole intersected alternating siltstone, tuffaceous siltstone, andesitic tuff, lapilli tuff and agglomerate, similar to TDDH1. A shear zone interpreted to correspond with Frazer’s lode was intersected between 38.5m and 40.9m. Historic logging reported a narrow 20cm interval of massive sphalerite–chalcopyrite–pyrite mineralisation, together with more common disseminated sphalerite, chalcopyrite and pyrite. Two intervals were historically sampled by Le Nickel from 39.2m to 40.9m and 69.65m to 70.55m. The best historic results from TDDH2 were: • 1.6m @ 0.6% Cu, 0.7% Zn & 2.8g/t Ag from 39.3m3 • 0.9m @ 0.72% Pb and 19g/t Ag from 69.65m3 Gold was reported below the limit of detection in the historically sampled intervals. 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. Location of historic drill holes and mines at Tuglow 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 EXULTANT SAMPLING PROGRAM The historic drill core from TDDH1 and TDDH2 is stored at the WB Clarke Geoscience Centre in Londonderry, NSW. Exultant was granted access to the core and completed a geological review of both holes. Following this review, Exultant identified several intervals that had not been sampled by Le Nickel, including: • A broad interval of massive to fracture-fill, moderately iron oxide-stained quartz veining hosted within sediments in TDDH1 (Fig. 3); and • Narrow sulphide-bearing veins in TDDH2 (Fig. 4). These previously unsampled intervals were sampled by Exultant and submitted for gold and multi- element analysis using Au-AA23 and ME-MS61 methods. Assay Results Exultant’s sampling returned broad low-grade gold and silver anomalism from the upper part of TDDH1, together with narrow zinc and copper-bearing intervals in TDDH2. Best result from TDDH1 returned: • 21.1m @ 0.18g/t Au and 2.1g/t Ag from 3.4m including o 4.5m @ 0.26g/t Au & 4.7g/t Ag from 20m including o 0.5m @ 0.33g/t Au & 1.29% Zn from 24m TDDH2 returned narrow high-grade base metal intervals including: • 0.35m @ 3.05% Zn & 0.14% Pb from 45.2m; and • 0.2m @ 1.7% Cu from 54.1m 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 3. Moderately iron oxide-stained quartz veining: 21.1m @ 0.18g/t Au and 2.1g/t Ag from 3.4m 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 4. (Top) BQ core of a quartz-chalcopyrite-pyrite-sphalerite vein in TDDH2: 0.2m @ 1.7% Cu from 54.1m. (Bottom) BQ core of a quartz-sphalerite-pyrite-galena vein in TDDH2: 0.35m @ 3.05% Zn & 0.14% Pb from 45.2m The presence of broad, low-grade gold and silver anomalism in TDDH1 is considered significant because the sampled quartz-veined interval was previously unsampled and appears to have been considered barren or of limited interest by historic explorers, whose focus was primarily on higher-grade Cu-Pb-Zn sulphide mineralisation. The new assay results indicate that the Tuglow mineral system may contain a broader precious-metal component than previously recognised. The association of gold and silver with quartz veining, iron oxide staining and local base metal enrichment suggests that precious metal anomalism may occur outside the narrow massive sulphide lodes historically mined at surface. This is encouraging for Exultant because it indicates that historic exploration may have under-evaluated the broader hydrothermal system, particularly where mineralisation is expressed as lower-grade disseminated or vein-hosted precious and base metal anomalism rather than visually obvious massive sulphide mineralisation. The results also support the potential for additional mineralised structures or alteration zones along the broader Tuglow lode corridor, which extends for more than 1km and remains largely untested by modern systematic geochemistry, geophysics and drilling. 3.6cm 3.6cm 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 NEXT STEPS Exultant’s planned follow-up work at the Tuglow Copper Mines includes: • Continued land access negotiations with relevant landholders; • Compilation and validation of historic mining, drilling, geochemical and geophysical datasets; • Planning of systematic surface geochemical surveys across the Tuglow lode corridor; • Planning of ground-based geophysical surveys to refine potential sulphide-bearing structures; and • Target generation for potential future drill testing, subject to land access, permitting and technical review. 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 - McClatchie, L., 1971. Report on a Brief Examination of Mineral Occurrences Within E.L.A 766, Taralga-Porters Retreat District, DIGS: R00022862 (GS1972/141) 2 - Le Nickel (Aust) Exploration Pty Ltd., 1974. Drilling aid, PLLA's 463 and 465 Oberon, Tuglow Copper Mine, Jaunter. DIGS: R00024159 (GS1974/121) 3 - Refer to Table 2 & 3 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 is located 130km west of Sydney near Oberon within the Lachlan Fold Belt. The project is prospective for gold, silver, copper & base metals and hosts the Watson prospect, Porters Retreat and Tuglow historic copper mines 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: Tuglow Historic Drillhole Data HOLE ID MGA20z55_E MGA20z55_N RL DIP AZI (GRID) FINAL DEPTH (M) TDDH1 769391 6235844 1140 -80 103.6 152.5 TDDH2 769493 6234924 1160 -80 263.6 154.85 Table 2: References to Historic Explorers’ Drill Results Reference Source Company Year NSW Title Previously Reported under a prior JORC Code Link to source R00024159 Le Nickel Exploration 1974 PL 463, 464, 465 & 466 No https://search.geoscience.nsw.gov.au/rep ort/R00024159 Table 3: Summary of Tuglow Significant Historic Intersects Hole ID From (m) To (m) Au g/t Ag g/t Cu_ppm Pb_ppm Zn_ppm TDDH1 132.8 134.3 -0.1 2.8 430 750 700 TDDH1 134.3 136 -0.1 3.2 320 600 180 TDDH2 39.3 40.9 -0.1 2.8 5800 82 6800 TDDH2 69.65 70.55 -0.1 19 200 7200 800 Historic Le Nickel Exploration assay results are reported for geological context only. Exultant has not independently verified the original assay methods, laboratory procedures, QAQC protocols or the competency status of theoriginalreporter.These results should therefore be treated as historic information and should not be considered current Exploration Results reported in accordance with the JORC Code 2012. Note: -0.1 = below detection limit Table 4: July 2026 Tuglow Assay Results Hole ID From (m) To (m) Au g/t Ag g/t As_ppm Bi_ppm Cu_ppm Pb_ppm Sb_ppm Tl_ppm Zn_ppm TDDH1 3.4 4 0.125 0.87 42.9 18.5 337 697 7.65 0.16 468 TDDH1 4 5 0.06 0.74 32 2.57 619 330 8.79 3.79 271 TDDH1 5 5.7 0.082 0.74 31.1 35.8 245 217 7.96 2.02 379 TDDH1 5.7 7 0.823 2.57 37.2 204 249 275 24 0.73 349 TDDH1 7 7.4 0.462 2.02 19 154.5 352 164.5 7.54 0.56 199 TDDH1 7.4 8 0.049 1.36 55.7 7.73 174 145.5 9.95 2.23 381 TDDH1 8 9 0.192 0.37 71 1.86 196 37 10.6 3 213 TDDH1 9 10 0.063 0.34 53.1 1.62 172 23.3 7.65 2.58 140 TDDH1 10 11 0.073 0.21 37.7 0.93 33.4 17.6 4.97 1.89 83 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 TDDH1 11 12 0.059 0.35 33.5 1.83 42.6 53.8 7.42 2.1 206 TDDH1 12 13 0.017 0.7 87.5 3.98 182.5 349 11.45 0.85 1125 TDDH1 13 13.7 0.023 1.44 108.5 6.57 245 736 15 1.16 1275 TDDH1 13.7 15 0.366 4.69 33.6 379 499 450 21.7 0.71 1015 TDDH1 15 16 0.1 6.39 32.1 121 969 494 11.5 1.04 880 TDDH1 16 16.6 0.036 0.5 41 3.64 125 116.5 6.02 1.64 639 TDDH1 16.6 17.3 0.155 2.49 25.9 53.3 301 232 6.74 0.75 810 TDDH1 17.3 18 0.126 0.46 38.1 4.04 120.5 72.3 5 1.58 699 TDDH1 18 19 0.06 0.23 28.6 2.12 71.1 25 3.62 1.18 951 TDDH1 19 20 0.075 0.61 17.5 1.64 92.7 45.9 2.49 0.73 833 TDDH1 20 20.8 0.186 0.28 20.3 4.15 81.1 102 3.42 0.92 1590 TDDH1 20.8 22 0.243 6.88 47.2 88 582 597 14.7 1.24 884 TDDH1 22 23 0.197 9.64 72.9 90.4 550 1145 18.7 1.84 837 TDDH1 23 24 0.355 3.15 24.5 52.5 103 408 10.85 1.94 375 TDDH1 24 24.5 0.333 3.55 39.1 97.1 236 376 16.55 2.03 12850 TDDH1 24.5 25 0.086 1.93 37 37.4 123 239 13.2 2.22 1645 TDDH1 25 26 0.034 0.26 39.7 1.9 25.8 81.5 10.05 3.38 1205 TDDH1 26 27 0.016 0.22 29.7 0.99 80.1 52.4 6.92 2.23 3020 TDDH1 132.35 132.8 0.025 0.1 19.2 2.91 33.1 8.9 2.48 0.56 186 TDDH1 139.5 140 0.03 0.42 22.8 2.81 29.3 118 6.08 0.66 371 TDDH1 140 141 0.009 0.09 12.7 1.04 34 18.8 4.31 0.38 165 TDDH1 141 142 0.023 0.04 9.3 3.42 18.4 5.2 2.88 0.42 99 TDDH1 142 142.5 0.018 0.04 6.2 1.64 28.1 3.7 4.33 0.21 104 TDDH1 142.5 143 0.077 0.11 4.5 3.79 48.6 10.6 3.89 0.11 90 TDDH1 143 144 0.068 0.13 3.7 10.3 44 12.3 3.54 0.1 56 TDDH1 147.8 149 0.055 0.15 20.1 0.44 26.5 9.4 8.37 1.56 103 TDDH1 149 149.3 0.238 0.2 25.6 0.56 23.4 15.2 8.68 1.36 137 TDDH2 28.8 29.1 0.007 0.3 25.4 0.13 509 131 6.49 0.89 487 TDDH2 40.9 42 0.012 0.07 15.8 1.61 76.2 3.7 7.14 1.35 223 TDDH2 45.2 45.55 0.036 0.49 15.6 6.91 1420 6.4 3.66 0.48 30500 TDDH2 54.1 54.3 0.059 3.45 35.3 18.5 17050 63.4 7.68 0.56 2100 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 TDDH2 54.3 55 0.005 0.04 4 1.1 108 1.8 2.33 0.28 231 TDDH2 55 56 0.008 0.14 27.3 1.28 88.2 17.6 6.26 1.22 262 TDDH2 56 56.8 0.013 0.12 6.4 3.24 350 2.2 3.6 0.38 132 TDDH2 138.8 140 <0.00 5 0.06 0.9 0.08 97.6 7.6 4.79 1.1 109 TDDH2 151 152 <0.00 5 0.02 <0.2 0.13 6.6 7 0.42 0.07 53 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 A: Tuglow 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. • The announcement reports assay results from historic diamond drill core from TDDH1 and TDDH2, originally drilled by Le Nickel Exploration in 1974 and stored at the WB Clarke Geoscience Centre, Londonderry, NSW. Historic Le Nickel sampling was selective and limited to intervals interpreted as mineralised at the time, with samples reportedly assayed for Au, Ag, Cu, Pb and Zn. Following a review of the historic core by Exultant Mining geologists, previously unsampled intervals of quartz veining, iron oxide- stained veining and sulphide-bearing veining were selected for sampling. Exultant’s sampling consisted of half-core samples cut using a brick saw at the WB Clarke Geoscience Centre. A total of 45 half-core samples were submitted to ALS Orange for gold and multi-element analysis. Sampling was targeted at previously unsampled veined and/or mineralised intervals and is considered appropriate for early- stage assessment of historic drill core. 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). • TDDH1 and TDDH2 were drilled by Le Nickel Exploration in 1974 using diamond drilling. The holes were drilled using a combination of NQ and BQ core sizes. TDDH1 was drilled to a total depth of 152.5m. TDDH2 was drilled to a reported depth of 54.84m. Historic logs indicate that core size reduced from NQ to BQ downhole. 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. • No quantitative core recovery data has been identified in the available historic records. Core recovery was not reported in the historic documentation reviewed by Exultant. The sampled core remains available for inspection at the WB Clarke Geoscience Centre. No relationship between sample 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 • 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. recovery and grade has been established. 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. • Geological logging was completed by Le Nickel geologists on paper logs, which have subsequently been scanned and archived in the NSW DIGS database. Logging included lithology, alteration, veining and sulphide mineralisation. Lithologies logged include siltstone, tuffaceous siltstone, andesitic tuff, lapilli tuff and agglomerate. Historic geological cross sections were prepared where appropriate. Exultant geologists reviewed the historic core and identified previously unsampled intervals of quartz veining, iron oxide- stained veining and sulphide-bearing veining for assay. 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 • Historic Le Nickel sample preparation methods are not known. Exultant Mining sampled selected intervals of historic drill core by cutting the core in half using a brick saw at the WB Clarke Geoscience Centre. Half-core samples were submitted to ALS Orange. ALS sample preparation methods included LOG-22, CRU-31 and PUL-23a. The ALS certificate also records received sample weight, crushing QC and pulverising QC procedures. Sample preparation is considered appropriate for the sample type and style of mineralisation being tested. 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. • Historic Le Nickel samples were reportedly assayed for Au, Ag, Cu, Pb and Zn; however, the laboratory used and analytical methods applied are not stated in the available historic report. Exultant samples were submitted to ALS Orange and analysed using Au-AA23 for gold and ME-MS61 for multi-element geochemistry. Where results exceeded the upper detection limits of ME-MS61, ore-grade analysis was completed or will be completed using the relevant ore-grade method, including Ag-OG62 for silver, Cu-OG62 for copper, Pb-OG62 for lead and Zn-OG62 for zinc. The ALS certificate records use of Au-AA23, ME-MS61, ME-OG62, Cu-OG62 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 and Zn-OG62. The analytical methods are considered appropriate for gold, silver and base metal mineralisation. 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 • Exultant geologists reviewed the historic core and selected previously unsampled intervals for assay. Historic Le Nickel assay results have not been independently verified by Exultant and are reported as historic results only. They are provided for geological context and should not be relied upon as current Exploration Results reported under the JORC Code 2012. Exultant’s reported assay results are based on new sampling of historic core and laboratory analysis by ALS. No twinned holes have been completed by Exultant. Laboratory certificates have been received for the Exultant samples. 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. • Historic drill hole collar locations were recorded in the 1974 report using the geographic datum available at that time. Exultant has calculated modern drill hole coordinates by converting the historic location information to GDA2020 Zone 55. Collar locations should be considered approximate due to the age and nature of the historic records. No downhole survey data was collected. Drill hole orientation is based on historic records. A drill collar table is included in the announcement. 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(s) and classifications applied. • Whether sample compositing has been applied • The reported results relate to two historic diamond drill holes only and do not represent systematic drill spacing. The holes tested separate IP anomalies associated with historic workings at the Tuglow Copper Mines. Data spacing is insufficient to establish geological or grade continuity and is not suitable for Mineral Resource estimation. Exultant’s assay table includes the full sampled intervals. Reported intercepts are length-weighted averages of individual assay intervals. Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have • The historic drilling was designed to intersect the interpreted structures and mineralisation as close to perpendicular as practicable. TDDH1 was drilled to test the down-dip extension of the Tuglow Mine orebody. TDDH2 was drilled to test mineralisation associated with Cotton & Frazer’s Mine. True widths have not been determined and all 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 introduced a sampling bias, this should be assessed and reported if material. intervals are reported as downhole lengths. Sample security • The measures taken to ensure sample security • Exultant’s samples were cut using a brick saw at the WB Clarke Geoscience Centre, Londonderry, NSW. Samples were then dispatched to ALS Orange via Pack & Send in Sydney. Historic Le Nickel sample security procedures are not documented. Audits or reviews • The results of any audits or reviews of sampling techniques and data. • No external audits or reviews of the historic Le Nickel drilling, sampling or assay data have been completed by Exultant. Exultant has reviewed the available historic report, scanned logs, core and assay data. Exultant did not insert external certified reference materials, blanks or duplicates. ALS internal laboratory QAQC included standards, blanks and duplicates, as recorded in the ALS QC certificate. Section 2 Reporting of Exploration Results Criteria JORC Code E