Quarterly Activities/Appendix 5B Cash Flow Report
Released
Released
Announcement PDF
28th
July 2026
Level 8, 216 St Georges Terrace, Perth, Western Australia 6000
T: +61 (08) 9481 0389 E: info@exultantmining.com.au
ACN 684 147 484
CAPITAL STRUCTURE
30 June 2026
Shares on Issue: 37.400M
Share Price: 16.5c
Market Cap: A$6.171M
Cash: A$3.500M
Enterprise Value: A$2.671M
Options (3yr, 30c)7M
DIRECTORS
Brett Grosvenor
Executive Chairman
Lincoln Ho
Non-Executive Director
Alan Armstrong
Non-Executive Director
PROJECTS
Black Hammer
New South Wales
Peak View
New South Wales
Deep Dykes
Western Australia
www.exultantmining.com.au
JUNE 2026 QUARTERLY REPORT
HIGHLIGHTS
• Drilling approval received from the NSW Resources Regulator for the
Company’s maiden drill program at the Balerion Prospect, within the Peak
View Project, NSW
• Peak View Prospect renamed to the Balerion Prospect following
advancement of the prospect to drill-ready status. The broader Peak View
Project name remains unchanged
• Targeted 12-hole, 3,425m RC drilling program finalised at Balerion to test
multiple high-priority targets defined from integrated soil geochemistry,
IP, gravity, magnetic and historical drilling datasets
• Maiden drilling commenced at Balerion, marking the first systematic drill
test of targets generated from Exultant’s modern integrated exploration
programs
• EL9913 “Swatchfield” granted at the Black Hammer Project, expanding
Exultant’s Black Hammer landholding to approximately 390km² across
prospective Macquarie Arc geology
• Post quarter end, maiden drilling intersected chalcopyrite, sphalerite and
galena mineralisation at Balerion, confirming the geological targeting
model ahead of laboratory assays
• Post quarter end, previously unsampled historic drill core at Tuglow
returned gold and silver anomalism in quartz veining considered barren
by earlier explorers, opening up a broader mineralised system
Commenting on the June Quarter, Exultant's Executive Chairman,
Brett Grosvenor, said:
"It has been a busy quarter for Exultant, and the news has kept coming since it
closed.
At Balerion, formerly Peak View, we went from target definition straight into
drilling, testing the coincident IP, gravity and magnetic anomalies we identified
earlier in the year. We ran diamond drilling on the first two holes to give us good
structural control as we tested the system for the first time, and it has paid off.
Since quarter end, we've reported that both holes intersected sulphide
mineralisation, with chalcopyrite, sphalerite and galena in a setting consistent
with our targeting model. Assays are still pending, but this is the type of result we
were hoping to see at this stage of the program, and it has let us sharpen the
remaining five holes onto the down-dip extensions of the historic high-grade
intercepts. We'll update the market as those results come in.
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
At Black Hammer, the grant of the Swatchfield licence gave us another underexplored gold
target alongside the historic copper workings we already hold. Since quarter end, we've also
confirmed gold and silver anomalism in quartz veining from the historic Tuglow core that
were not assayed by earlier explorers because they were focused on the high-grade sulphide.
That tells us there is more to the Tuglow system than what was mined, and it's worth
following up along the broader lode corridor.
We've now got results coming in on two fronts, and we look forward to keeping shareholders
updated as the programs progress."
EXECUTIVE REPORT
During the June 2026 quarter, Exultant Mining Limited advanced exploration across both the
Peak View and Black Hammer Projects in New South Wales (Fig. 1), with the Company’s
principal focus being the transition of the Balerion Prospect from target generation to drill
testing.
At the Peak View Project, Exultant completed the integration of recent soil geochemistry,
induced polarisation, ground gravity, magnetic and historical drilling datasets at the former
Peak View Prospect. Following final target ranking and drillhole design, the Company renamed
the Peak View Prospect to the Balerion Prospect. The broader Peak View Project name
remains unchanged. This followed the definition of multiple high-priority drill targets,
including coincident chargeability-resistivity anomalies, resistivity-low anomalies located
down-dip of known sulphide mineralisation, and structurally favourable chargeability-gravity
anomalies.
During the quarter, the Company received drilling approval from the NSW Resources
Regulator, finalised a targeted 12-hole RC drill program for 3,425m, completed site
preparation works and commenced maiden drilling at Balerion. The program was designed to
test undrilled geophysical and geochemical anomalies, as well as potential extensions to
historical high-grade mineralisation.
At Black Hammer, the Company strengthened its regional tenure position through the grant
of EL9913 “Swatchfield”, which added approximately 53km² of prospective ground and
expanded the Black Hammer Project to approximately 390km². Swatchfield secures additional
exposure to prospective Macquarie Arc rocks, including gold-anomalous areas associated with
the Isabella Granite contact and the historical Swatchfield Prospect.
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 1. Location map of the Peak View and Black Hammer Projects on Lachlan Orogeny geology
EXPLORATION ACTIVITIES
Peak View Project
The Peak View Project remained the principal focus of exploration activities during the June
2026 quarter. Activities were concentrated on the Balerion Prospect, formerly known as the
Peak View Prospect, where the Company advanced from geophysical target definition to drill
approval, drill planning and commencement of maiden drilling.
Balerion Prospect
During the quarter, Exultant reported the results of induced polarisation and ground gravity
surveys completed at the then Peak View Prospect. These surveys were designed to test the
previously defined 900m-long Cu-Pb-Zn-Ag-Au soil anomaly and refine targets for drilling. The
dipole-dipole IP survey comprised four east-west oriented lines, each 1.6km long and spaced
200m apart with 50m electrode spacing. The ground gravity survey comprised 136 stations
collected on a 100m x 100m grid.
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
The integrated datasets defined multiple high-priority target zones, including:
• A western chargeability anomaly coincident with a 1.1km long gravity high adjacent to
the Peak View Thrust
• A strong coincident chargeability and resistivity high beneath the widest part of the
multi-element soil anomaly
• Resistivity-low anomalies located down-dip of known massive sulphide mineralisation
(Fig. 2)
Figure 2. Cross section 6006835N (+/-20m) looking north showing untested resistivity low anomaly (green
shells) down-dip from PVI006 (4.4m @ 342.7g/t Ag, 4% Pb, 1.1% Cu, 0.74g/t Au & 0.84% Zn from 48.7m)1
The Company also noted that the Peak View Thrust is interpreted as the southern continuation
of the Narongo Fault, which hosts the Captains Flat VMS deposit and multiple mineral
occurrences along strike. This regional comparison should be treated as geological context
only and is not necessarily indicative of mineralisation at Balerion.
Following integration of the geochemical and geophysical datasets, Exultant finalised a 12-
hole targeted RC drilling program at the Balerion Prospect. During the quarter, the Company
renamed the Peak View Prospect to the Balerion Prospect following advancement of the
target to drill-ready status. The broader Peak View Project name remains unchanged.
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
The planned drillholes were designed to test a combination of undrilled anomalies,
structurally favourable positions and down-dip extensions to known mineralisation (Fig. 3).
Target styles included coincident chargeability-resistivity highs, resistivity-low anomalies
interpreted down-dip of known sulphide mineralisation, and chargeability-gravity anomalies
proximal to interpreted structural corridors.
Figure 3. Section 6006850mN (+/-25m) showing planned drillhole PVRC_L targeting a resistive low
anomaly (green shells) directly down dip of PVI008 (pictured: 0.8m @ 22% Zn, 11.6% Pb, 1.2% Cu,
155g/t Ag, 0.5g/t Au from 152.6m1
), along the same prospective horizon.
Drilling approval was received from the NSW Resources Regulator during the quarter, with
earthworks and drilling contractors secured. Site preparation was completed and the maiden
drilling program commenced on 26 May 2026. The planned 3,425m program represented the
first systematic test of targets generated from Exultant’s modern integrated exploration work
at Balerion.
Samples from the drilling program are being submitted for laboratory analysis during and
following completion of the program. Results will be released progressively once received,
interpreted and validated.
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
Black Hammer Project
Exploration activities at the Black Hammer Project during the June 2026 quarter focused on
strengthening the Company’s tenure position, progressing land access and advancing
technical assessment of priority targets within the broader Macquarie Arc geological setting.
Swatchfield Licence Grant
During the quarter, the NSW Resources Regulator granted EL9913 “Swatchfield”, previously
ELA7018. The licence comprises 17 map units, or approximately 53km², and forms part of the
Black Hammer Project near Oberon in New South Wales (Fig. 4). Following grant of EL9913,
the Black Hammer Project comprises Porters Retreat EL9332, Tuglow EL9826 and Swatchfield
EL9913, increasing the Company’s landholding to approximately 390km².
Swatchfield is underlain by Macquarie Arc volcanic and sedimentary rocks of the Rockley
Volcanics, intruded by multiple granitic bodies including the Isabella and Black Springs
Granites. Historical exploration identified gold anomalism associated with the Isabella Granite
contact, including multiple anomalous rock chip samples and historical rock chip results of up
to 10.67g/t Au2 at the Swatchfield Prospect. These historical results provide a basis for follow-
up exploration but require appropriate context and validation where used in future reporting.
The Company considers the Swatchfield licence to provide exposure to underexplored gold
targets in a prospective Macquarie Arc setting, including potential intrusion-related gold
mineralisation associated with granite contact aureoles.
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. Tenements comprising the Black Hammer Project overlain on Lachlan Orogen geology
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
NEXT STEPS
Peak View Project
Following the commencement of drilling at Balerion, the Company’s immediate priority is to
complete the remaining priority drillholes and submit samples for laboratory analysis. Results
will be integrated with existing soil geochemistry, IP, gravity, magnetic and historical drilling
datasets to refine the geological model and guide future exploration.
Subject to results, further work may include additional drilling, downhole geophysics, detailed
structural interpretation and follow-up geophysical or geochemical programs across priority
positions within the broader Peak View Project.
Black Hammer Project
At Black Hammer, the Company will continue to progress land access negotiations across
priority areas, including the Tuglow Copper Mine and Watsons Prospect. Planned follow-up
work may include geological mapping, rock chip sampling, soil geochemistry, ground-based
geophysics and further assessment of historical datasets across Porters Retreat, Tuglow and
Swatchfield.
SUBSEQUENT TO QUARTER END
Subsequent to quarter end, Exultant reported that three drillholes had been completed at
Balerion for a total of 632.5m. BLRCDD001 and BLRCDD002 intersected chalcopyrite,
sphalerite and galena mineralisation, providing encouraging geological support for the
Company’s targeting model. Laboratory assays were pending at the time of the update and
visual observations should not be considered a proxy or substitute for laboratory analysis.
Following geological observations from the first three holes, the remaining program was
refined to five priority drillholes targeting extensions to historical high-grade mineralisation.
Subsequent to quarter end, Exultant received assay results from previously unsampled
intervals of historic diamond drill core from the Tuglow Copper Mines within EL9826 at the
Black Hammer Project. Sampling of 1974 Le Nickel drill core stored at the WB Clarke
Geoscience Centre returned broad, low-grade gold and silver anomalism in TDDH1, including
21.1m @ 0.18g/t Au and 2.1g/t Ag from 3.4m, and 4.5m @ 0.26g/t Au and 4.7g/t Ag from
20.0m, including 0.5m @ 0.33g/t Au & 1.29% Zn from 24m. TDDH2 returned narrow base
metal intervals, including 0.35m @ 3.05% Zn & 0.14% Pb from 45.2m and 0.2m @ 1.7% Cu
from 54.1m3. The results confirm gold, silver and base metal anomalism in intervals not
sampled by historic explorers and support the potential for a broader mineralised system at
Tuglow.
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
CORPORATE
The Company’s Quarterly Cashflow Report (Appendix 5B) follows this activities report. The
Company’s consolidated cash at hand was $3.5M at 30 June 2026 with no debt.
The total amount paid for exploration expenditure, as per item 1.2(a), 2.1 (b) and 2.1(d) of the
Appendix 5B was $175k for the quarter ended 30 June 2026.
The total amount paid to related parties of Exultant Mining and their associates, as per item
6.1 of the Appendix 5B was $45k in director and consulting fees for the quarter ended 30 June
2026.
The total amount paid to related parties of Exultant Mining and their associates, as per item
6.2 of the Appendix 5B, was $6k for director and consulting fees for the quarter ended 30 June
2026.
The current capital structure is as follows:
Ordinary shares: 37,400,001 Options: 7,000,000 Performance Rights: 1,000,000
Use of Funds
In line with obligations under ASX Listing Rule 5.3.4, the Company provides the following
information with respect to its Use of Funds Statement set out in its Prospectus dated 23
October 2025 and its actual expenditure since ASX admission on 11 December 2025:
Expenditure Item Forecast
(2 years)
$'000
Actual
(9 months)
$'000
Variance
$'000
Explanation
Exploration at the Peak View Project 1,050 132 (918) Only 9 months’ worth of expenditure.
Exploration at the Black Hammer
Project 1,180 388 (792) Only 9 months’ worth of expenditure.
Exploration at the Deep Dykes Project 930 39 (891) Only 9 months’ worth of expenditure.
Cash payments under the acquisition
agreements 210 98 (112) Lower than anticipated.
Expenses of the offer 582 505 (77)
Total of $521k for 12 months; variance
relates to timing of payments and
accounting method for classification of
capital raising costs.
Corporate and administration costs 823 647 (176) Only 9 months’ worth of expenditure.
Working capital 225 - (225) Only 9 months’ worth of expenditure.
Total 5,000 1,809 (3,191)
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
Tenement Schedule
TENEMENT PROJECT LOCATION OWNERSHIP CHANGE IN QUARTER
EL9332 Black Hammer Oberon, NSW 100%
EL9826 Black Hammer Oberon, NSW 100%
EL9411 Peak View Cooma, NSW 100%
EL8931 Peak View Cooma, NSW 100%
EL9913 Black Hammer Oberon, NSW 100% Granted
E29/1154 Deep Dykes Leonora, WA 100%
E29/1155 Deep Dykes Leonora, WA 100%
E29/1156 Deep Dykes Leonora, WA 100%
Table 1 - Summary of Exultant Mining Tenement Holdings
ASX Announcements
This Quarterly Activities Report contains information reported in accordance with JORC 2012
in the following announcements:
9 April 2026 - Multiple High-Priority Drill Targets at Peak View Prospect
7 May 2026 - Drilling Approval Received & High Priority Targets Finalised
18 May 2026 - Prospective Gold Tenement Granted at Black Hammer
26 May 2026 - Commencement of Drilling at Balerion
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
Exultant Mining Limited
Executive Chairman
Info@exultantmining.com.au
Ph: +61 (08) 9481 0389
OR
Paul Berson
Executive Adviser
Corporate Storytime
Email: paul@corporatestorytime.com
1 - See ASX 10X announcement "Drilling Approval Received & High Priority Targets Finalised" - 7th May 2026
2 - See ASX 10X announcement "Prospective Gold Tenement Granted at Black Hammer" - 18th May 2026
3 – See ASX 10X announcement “Historic Tuglow Drill Core Reveals Gold and Silver” – 21 July 2026
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
Disclaimer
Some of the statements appearing in this announcement may be in the nature of forward-looking
statements. You should be aware that such statements are only predictions and are subject to inherent
risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries
in which Exultant 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, information compiled and reviewed by Sebastian Hind. Mr Hind is a senior geologist for
Exultant Mining Limited and a Member of the Australasian Institute of Mining and Metallurgy
(Membership number 3116971). 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.
Rule 5.5
ASX Listing Rules Appendix 5B (17/07/20) Page 12
+ See chapter 19 of the ASX Listing Rules for defined terms.
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
Exultant Mining Limited
ABN Quarter ended (“current quarter”)
42 684 147 484 30 June 2026
Consolidated statement of cash flows Current quarter
$A’000
Year to date (12
months)
$A’000
1. Cash flows from operating activities
- -
1.1 Receipts from customers
1.2 Payments for
(175) (526)
(a) exploration & evaluation
(b) development - -
(c) production - -
(d) staff costs (66) (187)
(e) administration and corporate costs (66) (494)
1.3 Dividends received (see note 3) - -
1.4 Interest received 35 35
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Government grants and tax incentives - -
1.8 Other (tenement bonds) (10) (20)
1.9 Net cash from / (used in) operating
activities
(282) (1,192)
2. Cash flows from investing activities
- -
2.1 Payments to acquire or for:
(a) entities
(b) tenements - (90)
(c) property, plant and equipment (3) (41)
(d) exploration & evaluation - -
(e) investments - -
(f) other non-current assets - -
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
ASX Listing Rules Appendix 5B (17/07/20) Page 13
+ See chapter 19 of the ASX Listing Rules for defined terms.
Consolidated statement of cash flows Current quarter
$A’000
Year to date (12
months)
$A’000
2.2 Proceeds from the disposal of:
- -
(a) entities
(b) tenements - -
(c) property, plant and equipment - -
(d) investments - -
(e) other non-current assets - -
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other (provide details if material) - -
2.6 Net cash from / (used in) investing
activities
(3) (131)
3. Cash flows from financing activities
- 5,320
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities)
3.2 Proceeds from issue of convertible debt
securities
- -
3.3 Proceeds from exercise of options - -
3.4 Transaction costs related to issues of equity
securities or convertible debt securities
- (532)
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
3.7 Transaction costs related to loans and
borrowings
- -
3.8 Dividends paid - -
3.9 Other (provide details if material) - -
3.10 Net cash from / (used in) financing
activities
- 4,788
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period
3,785 35
4.2 Net cash from / (used in) operating
activities (item 1.9 above)
(282) (1,192)
4.3 Net cash from / (used in) investing activities
(item 2.6 above)
(3) (131)
4.4 Net cash from / (used in) financing activities
(item 3.10 above)
- 4,788
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
ASX Listing Rules Appendix 5B (17/07/20) Page 14
+ See chapter 19 of the ASX Listing Rules for defined terms.
Consolidated statement of cash flows Current quarter
$A’000
Year to date (12
months)
$A’000
4.5 Effect of movement in exchange rates on
cash held
- -
4.6 Cash and cash equivalents at end of
period
3,500 3,500
5. Reconciliation of cash and cash
equivalents
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
Current quarter
$A’000
Previous quarter
$A’000
5.1 Bank balances 500 285
5.2 Call deposits 3,000 3,500
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of
quarter (should equal item 4.6 above)
3,500 3,785
6. Payments to related parties of the entity and their associates Current quarter
$A'000
6.1 Aggregate amount of payments to related parties and their
associates included in item 1
45
6.2 Aggregate amount of payments to related parties and their
associates included in item 2
6
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an
explanation for, such payments.
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
ASX Listing Rules Appendix 5B (17/07/20) Page 15
+ See chapter 19 of the ASX Listing Rules for defined terms.
7. Financing facilities
Note: the term “facility’ includes all forms of financing
arrangements available to the entity.
Add notes as necessary for an understanding of the
sources of finance available to the entity.
Total facility
amount at quarter
end
$A’000
Amount drawn at
quarter end
$A’000
7.1 Loan facilities - -
7.2 Credit standby arrangements - -
7.3 Other (please specify) - -
7.4 Total financing facilities - -
7.5 Unused financing facilities available at quarter end -
7.6 Include in the box below a description of each facility above, including the lender, interest
rate, maturity date and whether it is secured or unsecured. If any additional financing
facilities have been entered into or are proposed to be entered into after quarter end,
include a note providing details of those facilities as well.
8. Estimated cash available for future operating activities $A’000
8.1 Net cash from / (used in) operating activities (item 1.9) (282)
8.2 (Payments for exploration & evaluation classified as investing
activities) (item 2.1(d))
-
8.3 Total relevant outgoings (item 8.1 + item 8.2) (282)
8.4 Cash and cash equivalents at quarter end (item 4.6) 3,500
8.5 Unused finance facilities available at quarter end (item 7.5) -
8.6 Total available funding (item 8.4 + item 8.5) 3,500
8.7 Estimated quarters of funding available (item 8.6 divided by
item 8.3)
12.4
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”.
Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: N/A
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: N/A
Appendix 5B
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
ASX Listing Rules Appendix 5B (17/07/20) Page 16
+ See chapter 19 of the ASX Listing Rules for defined terms.
8.8.3 Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Answer: N/A
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.
Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which
comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Date: 28th July 2026
Authorised by: The Board
(Name of body or officer authorising release – see note 4)
Notes
1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the
entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An
entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is
encouraged to do so.
2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions
in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash
Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting
standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing
activities, depending on the accounting policy of the entity.
4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the
board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert
here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the
market by a disclosure committee, you can insert here: “By the Disclosure Committee”.
5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out
as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles
and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the
financial records of the entity have been properly maintained, that this report complies with the appropriate accounting
standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the
basis of a sound system of risk management and internal control whi
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