EMA INFILL DRILLING confirms CONTINUOUS RARE EARTH MINERALISATION

Auger drilling delivers thick magnet REE intercepts across 49 holes, supporting upcoming MRE update and ISR development pathway

Highlights

·       49 holes from the 2025 infill program continues to demonstrate highly consistent grades and thicknesses, reinforcing the predictable and scalable nature of the Ema REE system

·       Drilling continues to confirm lateral continuity essential for in-situ recovery (ISR) wellfield design

·       Mineralisation now extends across an ~82 km² footprint, strengthening long-term production potential

·       NdPr enrichment at the base of the saprolite continues to match the optimal zone for ISR

·       Results will be incorporated into the H1 2026 MRE update, an important milestone for the project bankable feasibility study (BFS)

Significant results (average grade >800ppm) include:

·        8.5m@1,513ppm TREO from 10m (EMA-TR-451), ending in 875ppm TREO

·        10m@1,253ppm TREO from 8m (EMA-TR-465), ending in 528ppm TREO

·        10m@1,049ppm TREO from 9m (EMA-TR-492), ending in 2,999ppm TREO

·        4m@1,005 ppm TREO from 10m (EMA-TR-477), ending in 1,595ppm TREO

·       9m@968ppm TREO from 9m (EMA-TR-456), ending in 854ppm TREO