Extensional drilling confirms widespread rare earths

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