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Exultant Mining
Black Hammer · The whole project

Black Hammer, from the licences to the targets.

~390 km² of Macquarie Arc rocks across three licences, with three priority copper-gold targets. None of them has ever been drilled. Step through the model, drag to rotate it, or hover over an area to see what it is.

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How to read it

Done, and still to do.

Everything drawn solid is published information: the licence boundaries, the mapped geology, the prospects and historic mines, and the three priority targets, all as shown on the company's prospect map.

Everything drawn with a dashed outline is planned work, not a result. At Watsons, land access is secured over most of the target mapping and rock chips are underway, and pXRF soils have extended the copper-zinc corridor to ~3 km. At Porters Retreat and Vermithor, land access negotiations have been initiated. No drilling has taken place at any of the three targets.

Legend

What you are looking at.

Licence boundaries
EL9332, EL9826 and EL9913, from NSW Government current titles data.
Rockley Volcanics
Macquarie Arc volcanic host rock, from the map's geology within the tenement area.
Isabella Granite
Granite bodies as mapped. Vermithor sits near its contact.
Priority targets
Watsons trend, Vermithor at its published size, and the Porters Retreat area (indicative).
Planned work
Programs underway or proposed. Not completed and not results.
Schematic redraw, not a geological model

Licence boundaries are from the NSW Government current mining and exploration titles data (MGA Zone 55). Geology, prospect and historic mine positions are redrawn from "Prospect location map for the Black Hammer Project on Lachlan Orogeny geology" (Investor Presentation, 3 September 2026, slide 5), georeferenced to its MGA Zone 55 grid. Positions are accurate to roughly 100 m at the map's scale. The Watsons trend is drawn at its published ~3 km length centred on the Watsons marker and aligned with the Rockley Volcanics; the Vermithor ring is drawn at its published ~1 km size around its marker; the Porters Retreat halo is centred on the Porters Retreat alluvial workings and marks the prospect area only, as the intrusion is not outlined on the map. The three historic mines near Tuglow are shown as one cluster. The terrain is shaded relief from SRTM elevation data (about 30 m), shown with 4× vertical exaggeration; its colours describe relief, not land cover. The depth of the ground block is a device and carries no geological meaning.

Exploration results and forward-looking statements

Black Hammer is at an early exploration stage. No Mineral Resource or Exploration Target has been estimated at any Black Hammer prospect and none of the three priority targets has been drill tested. Dashed outlines show planned work only. Statements about planned work, land access and drilling are forward-looking, depend on executing land access agreements and on exploration results, and are subject to risks and uncertainties outside our control; actual outcomes may differ materially. Refer to the ASX announcement of 2 September 2026, "Black Hammer Advances with Three Priority Cu-Au Targets", and the Investor Presentation of 3 September 2026. This page is general information only and is not financial product advice.

Linked at surface. Hosted by proven rocks.

Watsons, Porters Retreat and Vermithor sit inside the same 390 km² of Macquarie Arc rocks.

Terrain from SRTM elevation data. Licence boundaries from NSW titles data. Geology and prospects from our prospect location map (Investor Presentation, 3 Sep 2026, slide 5). Outlines are indicative.
Each one shows itself at surface
WatsonsQuartz-pyrite-chalcopyrite veining at surface in the Rockley Volcanics, over a ~3 km copper-zinc soil corridor.
Porters RetreatOutcropping, altered monzonite carrying pyrite and chalcopyrite, with angular alluvial gold in the river beside it.
VermithorA 1 km magnetic bullseye at the Isabella Granite contact. Outcrop and float are first in line for rock chips.
Host family one

Macquarie Arc volcanics and intrusives.

The Ordovician arc rocks that host Watsons and the monzonite at Porters Retreat are the same arc that hosts New South Wales' biggest porphyry systems.

~50 Moz AuCadia Valley, plus ~9.5 Mt Cu
1.1 Mt CuEqRacecourse, under 3 km from our ground
189 kt CuEqAscot, under 3 km from our ground
Host family two

The Isabella Granite margin.

The Carboniferous Isabella Granite sits beside Vermithor and, at Swatchfield, gold-anomalous rock chips follow its margin. Granite contacts like this are the setting for intrusion-related and Lucky Draw-style gold.

1.41 Mt @ 4.2 g/t AuLucky Draw, under 20 km away
10.67 g/t AuHistoric rock chip, Swatchfield

Nearby deposits are not on our tenements and are shown for geological context only; they are not an indication that similar mineralisation will be found at Black Hammer. Figures are as cited in our Investor Presentation of 3 September 2026: Cadia (Harris et al. 2020), Racecourse and Ascot (Xtract Resources), Lucky Draw (Renison Goldfield Consolidated, 1992). Swatchfield rock chips are historical, selective samples and are not representative of grade.

Watsons Prospect · Black Hammer

~3 km of copper and zinc. Never drilled.

A coherent copper-zinc soil anomaly in Macquarie Arc volcanics, open at both ends, sitting 2 km along strike from two historical gold mines. Nobody has ever assayed it for gold or drilled it. Step through the model or drag to rotate it.

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What investors are waiting on

Where Watsons Prospect sits on the road to a drill rig.

The next steps at Black Hammer are not drilling yet. They are land access, soil sampling and geophysics, in that order, and each one decides whether the next dollar gets spent.

✓
Land access
Secured over most of the target
2
Mapping and rock chips
Underway
✓
pXRF soils
Done, corridor to ~3 km
4
Lab soils for gold
Gold and multi-element assays, a first
5
Follow-up geophysics
Over targets the soils support
6
Drill test
Highest-priority targets
How to read it

Why Watsons goes first.

Soil sampling is the cheapest way to see through the ground. Metals leak upward from a mineralised source into the soil above it, so a line of soil samples carrying more copper and zinc than the rocks around them points at what lies underneath.

At Watsons, historical soils outlined a coherent copper-zinc trend about 2.4 km long in the Rockley Volcanics, with coincident copper-lead-zinc over about 400 m by 500 m. Two things were never done: the soils were never assayed for gold, and no drill hole has tested the source. With the Shooters Hill and Chatham Valley gold mines about 2 km along strike, a gold check is the obvious first question.

Watsons is the most advanced of our three priority targets on land access, so it is where the crew is first. The program validates the old anomaly, tests whether it continues beyond the old lines, looks for gold, and picks the ground for follow-up geophysics.

Legend

What you are looking at.

Rockley Volcanics
Macquarie Arc volcanic host rock, traced from NSW surface geology on slide 6.
Soil samples, 1972 to 1974
One dot per sample, coloured on the published zinc scale: blue under 20 ppm, up to pink at 90 ppm and above.
The 2.4 km trend
Axis of the copper-zinc anomaly as drawn on slide 6, open north and south.
Never drilled
Dashed outline of the ground under the strongest response. Its shape and depth are not known, because no hole has been drilled.
Tenement boundary
EL9826 (10X) as drawn on slide 6.
Schematic redraw, not a geological model

Plan geology, soil line positions, colour classes and the 2.4 km trend are redrawn from "Open ~2.4km-long Cu-Zn soil anomaly over NSW Surface Geology" (Investor Presentation, 3 September 2026, slide 6). Individual dots illustrate the published colour classes and are not individual assay results. Historical soil data were collected by Mines Search Pty Ltd and Platina Developments NL in 1972 to 1974 and analysed for Cu, Pb, Zn and Ag only. The depth of the ground block and the dashed outline beneath the trend are devices to show untested ground, not a geological interpretation; the outline position is indicative.

Exploration results and forward-looking statements

Black Hammer is at an early exploration stage. No Mineral Resource or Exploration Target has been estimated at any Black Hammer prospect and none of the three priority targets has been drill tested. Statements about planned work, land access and drilling are forward-looking, depend on executing land access agreements and on exploration results, and are subject to risks and uncertainties outside our control; actual outcomes may differ materially. Field pXRF readings are a screening tool only and are not a substitute for laboratory analysis. Refer to the ASX announcement of 2 September 2026, "Black Hammer Advances with Three Priority Cu-Au Targets", and the Investor Presentation of 3 September 2026. This page is general information only and is not financial product advice.

Porters Retreat · Black Hammer

A fertile intrusion you can stand on.

Copper-bearing rock at surface, gold in the river that runs through it, chemistry that passes the porphyry fertility test and magnetic support adjacent to it. None of it has ever been drilled. Step through the model or drag to rotate it.

Drag to rotate · pinch or +/− to zoom · tap + for detail
What investors are waiting on

Where Porters Retreat sits on the road to a drill rig.

The next steps at Black Hammer are not drilling yet. They are land access, soil sampling and geophysics, in that order, and each one decides whether the next dollar gets spent.

1
Land access
Negotiations started
2
Mapping and rock chips
Reconnaissance done in 2025, systematic next
3
pXRF soils
Across the intrusion and contacts
4
Lab soils for gold
Priority areas to the lab
5
Follow-up geophysics
If surface results support it
6
Drill test
Never drill tested
How to read it

Four clues in one place.

Big porphyry copper-gold deposits, like Cadia in the same Macquarie Arc, form around intrusions: bodies of magma that cooled underground. Explorers look for clues that an intrusion is the right kind. Porters Retreat has four of them.

One, the intrusion outcrops, and it is strongly altered and carries pyrite and chalcopyrite. Two, its chemistry lands in the prospective part of the fertility screen we use. Three, angular gold in the Retreat River that runs through it points to a nearby source. Four, magnetic anomalies adjacent to it may mean a larger intrusive system below what is exposed.

It has never been drill tested. The gate is land access. Once signed: detailed mapping, systematic rock chips and pXRF soils, integrated with the magnetics.

Legend

What you are looking at.

Altered monzonite
The intrusion at surface. Gold specks mark visible pyrite and chalcopyrite. Outline is schematic.
Retreat River and gold
Yellow grains show where angular alluvial gold is associated with the intrusion. Positions illustrative.
Fertility test
Sr/Y versus Sr/MnO screen (slide 7). Our samples plot in the mixed and prospective fields; most rocks plot as unprospective.
Magnetic anomalies
Basement magnetic responses adjacent to the intrusion. Shapes and positions are illustrative.
What we are hunting
Dashed outline of a buried porphyry system. An exploration concept, not a discovery, of unknown size and depth.
Schematic, not to scale

This block is an explanatory schematic, not a geological model or map. The outcrop outline, river course, gold grain positions, magnetic anomaly shapes and the porphyry concept outline are illustrative and are not drawn to scale or at surveyed positions. The fertility panel summarises the "Porphyry Prospectivity Diagram (Sr/MnO vs Sr/Y)" in the Investor Presentation of 3 September 2026, slide 7. Sr/Y and Sr/MnO ratios are derived from ME-MS61 four-acid digest data rather than whole-rock fusion analyses and should be considered indicative only; prospective classifications require confirmation using whole-rock geochemistry. Rock-chip samples are selective point samples and are not representative of mineralised width or grade. These observations define a testable exploration concept and do not confirm an economic mineral deposit.

Exploration results and forward-looking statements

Black Hammer is at an early exploration stage. No Mineral Resource or Exploration Target has been estimated at any Black Hammer prospect and none of the three priority targets has been drill tested. Statements about planned work, land access and drilling are forward-looking, depend on executing land access agreements and on exploration results, and are subject to risks and uncertainties outside our control; actual outcomes may differ materially. Field pXRF readings are a screening tool only and are not a substitute for laboratory analysis. Refer to the ASX announcement of 2 September 2026, "Black Hammer Advances with Three Priority Cu-Au Targets", and the Investor Presentation of 3 September 2026. This page is general information only and is not financial product advice.

Vermithor · Black Hammer

A 1 km bullseye nobody has followed up.

A remanent magnetic anomaly we found in existing survey data, with a strongest core extending about 1.2 km in depth, near a granite contact and under 5 km from historic copper-gold drill hits. Step through the model or drag to rotate it.

Drag to rotate · pinch or +/− to zoom · tap + for detail
What investors are waiting on

Where Vermithor sits on the road to a drill rig.

The next steps at Black Hammer are not drilling yet. They are land access, soil sampling and geophysics, in that order, and each one decides whether the next dollar gets spent.

1
Land access
Negotiations started, single landholder
2
Mapping and rock chips
Over the anomaly
3
pXRF soils
Across the magnetic footprint
4
Lab soils for gold
If surface work supports it
5
Follow-up geophysics
Targeted surveys
6
Drill test
Never drilled
How to read it

Why a magnetic target.

Vermithor came out of our own work: reprocessing existing airborne magnetics turned up a ~1 km by 1 km remanent "bullseye" with no historical follow-up. 3D modelling outlines a strongest core extending about 1.2 km in depth.

In nearby mineralised systems, remanent magnetic responses like this reflect pyrrhotite associated with copper-gold. The Footrot prospect, under 5 km away, returned historic drill results up to 3.18 g/t Au and 1.22% Cu, and strong historic IP responses sit about 1.4 km from the EL9332 boundary.

The Isabella Granite contact adds a second concept: intrusion-related or Lucky Draw-style gold. The model does not tell us the source is sulphide. Only fieldwork and, later, drilling can.

Legend

What you are looking at.

0.06 SI VRMI shell
The strongest magnetic core, from 3D magnetic modelling. Extent as reported; position below surface is schematic.
925RL depth slice
The ~1 km by 1 km bullseye, colours following the published slice image.
Magnetic footprint
Dashed volume about 1 km by 1 km, carved out of the ground to show the scale of the anomaly. Model dimensions, not a mineralised size.
Isabella Granite
Carboniferous granite around the anomaly. Outline is indicative.
Off the model
Footrot (under 5 km) and the historic IP responses (~1.4 km from EL9332) are named, not drawn.
Schematic redraw, not a geological model

The shell, its ~1.2 km extent and the depth slice are redrawn from "Oblique view looking NE of the 0.06SI VRMI magnetic shell underneath VRMI-depth slice image" (Investor Presentation, 3 September 2026, slide 8). The shell, the ~1 km by 1 km footprint and the reported dimensions are products of 3D magnetic modelling at a selected threshold; they are not based on drilling or sampling and do not represent mineralised dimensions. Magnetic inversion is non-unique and the anomaly source has not been field verified. The vertical position of the shell below surface and the ground block are schematic. Remanent magnetic responses associated with pyrrhotite-bearing Cu-Au in nearby systems provide a conceptual model only and do not establish that the Vermithor anomaly is caused by sulphides or mineralisation. Footrot results are historical (Ord Investments 2008; Straits Exploration 2003).

Exploration results and forward-looking statements

Black Hammer is at an early exploration stage. No Mineral Resource or Exploration Target has been estimated at any Black Hammer prospect and none of the three priority targets has been drill tested. Statements about planned work, land access and drilling are forward-looking, depend on executing land access agreements and on exploration results, and are subject to risks and uncertainties outside our control; actual outcomes may differ materially. Field pXRF readings are a screening tool only and are not a substitute for laboratory analysis. Refer to the ASX announcement of 2 September 2026, "Black Hammer Advances with Three Priority Cu-Au Targets", and the Investor Presentation of 3 September 2026. This page is general information only and is not financial product advice.

The tenements

Porters Retreat, Tuglow and Swatchfield.

We have identified multiple high-priority, undrilled targets with immediate discovery potential.

Prospect location map of the Black Hammer Project showing the Porters Retreat (EL9332), Tuglow (EL9826) and Swatchfield (EL9913) tenements, prospects and historic mines on Lachlan Orogeny geology
Prospect location map for the Black Hammer Project on Lachlan Orogeny geology (Investor Presentation, 3 September 2026)

Porters Retreat

EL9332

12 Anomalous Areas

Identified along major structural conduits across Black Hammer's three tenements.

Watson Prospect

A ~3 km long Cu/Zn soil corridor with quartz-pyrite-chalcopyrite veining. No gold assays have been conducted and it has never been drilled.

Porters Retreat Copper Mine

Historic adit and pits on quartz veins (12% Cu, 15g/t Au sample); associated with a NE-trending porphyry intrusive. Never drilled.

AC Prospect

2m @ 1.6 g/t Au from 8m in air core drilling of a previously unrecognized quartz vein swarm. This remains a priority for follow-up work.

Tuglow

EL9826

This underexplored license in the Macquarie Arc contains multiple high-grade targets:

  • 136km² exploration license covering the easternmost exposures of the highly prospective Macquarie Arc.
  • 10 metallic mineral occurrences recorded including the historic Tuglow Copper Mines, Hughes Copper Mine and Chatham Valley Gold Mines.
  • Prospective for Porphyry and vein-hosted Cu-Pb-Zn, Orogenic Au, and Alluvial/deep lead Au, sapphires, zircon & diamonds.
  • Underexplored – No drilling has been conducted since 1998.

Swatchfield

EL9913

We are investigating Carboniferous Granite Intrusion-Related Gold potential at Swatchfield:

  • Multiple gold-anomalous rock chips (up to 1.5g/t Au) coincident with magnetic highs.
  • Gold anomalism is associated with the margins of the Carboniferous Isabella granite, consistent with Lucky Draw-style gold mineralisation.
  • Historic rock chips up to 10.67g/t Au returned at the Swatchfield prospect with only shallow drilling completed to date.

Black Hammer Project Announcements