Announcement PDF Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 www.exultantmining.com.au 26th May 2026 MAIDEN DRILLING PROGRAM COMMENCES AT BALERION HIGHLIGHTS • Maiden RC drilling has commenced at the Balerion Prospect, within Exultant’s Peak View Project in New South Wales • 12-hole RC program to test multiple high-priority targets generated from integrated soil geochemistry, IP, gravity, magnetic and historical drilling datasets • 3,425m program is designed to test undrilled anomalies and potential extensions to known high-grade mineralisation • Drilling marks the first systematic test of targets generated from Exultant’s modern and integrated exploration programs at Balerion • Program is expected to take 4 to 6 weeks, with results to be released progressively Exultant Mining Limited (ASX: 10X) (“Exultant” or “the Company”) is pleased to announce the commencement of the planned RC drilling program at the Balerion Prospect, within the Company’s Peak View Project in New South Wales. Comment from Executive Chairman, Brett Grosvenor: “Commencement of drilling at Balerion is a major milestone for Exultant and represents the culmination of extensive geochemical, geophysical and targeting work completed over recent months. This program is the first systematic drill test of the high-priority targets generated from the integration of our soil geochemistry, IP, gravity and magnetic datasets, with several holes designed to test compelling anomalies associated with known high-grade mineralisation. Importantly, the program is testing a combination of undrilled targets and potential extensions to historical massive sulphide intersections, giving us multiple opportunities for discovery success. With drilling now underway, we are entering a highly exciting phase for the Company and we look forward to updating shareholders progressively as results are received and interpreted.” DRILLING COMMENCES AT BALERION Drilling has commenced at the Balerion Prospect following receipt of drilling approval from the NSW Resources Regulator and completion of site preparation works. The program comprises 12 planned RC drillholes designed to test high-priority targets generated from integrated soil geochemistry, IP, gravity, magnetic and historical drilling datasets.1 The drilling program 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 is designed to test a range of target styles, including coincident chargeability-resistivity anomalies, resistivity-low anomalies located down-dip of known sulphide mineralisation, and chargeability-gravity anomalies in structurally favourable positions. Samples will be submitted for laboratory analysis during and following completion of the program with results to be released progressively once received. The Company will also integrate drilling results with its existing geochemical, IP, gravity and magnetic datasets to refine the geological model and assist with future exploration planning. Figure 1. Drilling contractor and rig on site at Balerion 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. Planned Balerion drillholes in relation to historic collars and existing access tracks. 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 - Refer to ASX announcement dated 7 May 2026, “High-Priority Drill Targets Finalised at Balerion Prospect Ahead of Imminent Drilling” 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 PEAK VIEW PROJECT The Peak View Project is located 35km NE of Cooma within the Lachlan Fold Belt. The project is prospective for gold, silver, copper & base metals and hosts the Balerion (formerly Peak View), Big Badja and Undoo Creek prospects. 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.