Kingston Resources Unveils Exceptional 23.80g/t Gold Intercept at Red Terror, Expanding Mineral Hill Boundaries

KSNDDH080 Yields Premier Result: 23.80g/t Gold Over 8.55 Metres at Red Terror

The standout intercept from the recent Red Terror drilling is from hole KSNDDH080, which intersected 19.00 metres grading 10.75 grams per tonne gold, 0.63% copper, and 8 grams per tonne silver starting at 41.0 metres depth. Within this broader zone, a high-grade core of 8.55 metres at 23.80 grams per tonne gold, 0.91% copper, and 16 grams per tonne silver was recorded from 42.5 metres — the most exceptional result of the campaign. The copper equivalent grade for this core was calculated at 28.28% CuEq, based on Kingston’s stated price and recovery assumptions.

This hole also revealed a secondary zone comprising 9.60 metres at 0.20g/t gold, 1.14% copper, 1.21% lead, and 14 grams per tonne silver from 66.0 metres, including a higher-grade sub-interval of 4.10 metres at 0.40g/t gold, 1.99% copper, 2.75% lead, and 29g/t silver from the same depth. The polymetallic nature—gold, copper, silver, and lead—is consistent with Mineral Hill’s historic production from 2010 to 2016. The presence of multiple mineralised zones in KSNDDH080 suggests the high-grade footprint at Red Terror may be more extensive than previously modelled.

KSNDDH081 Validates Up-Dip Continuity With 5.09g/t Gold Over 17 Metres

Hole KSNDDH081, drilled as an up-dip extension to KSNDDH080, returned 17.00 metres at 5.09g/t gold and 0.93% copper from 40.0 metres depth. Within this interval, a higher-grade section of 4.00 metres at 8.83g/t gold and 1.40% copper was recorded from 43.0 metres, equating to a copper equivalent grade of 11.60% CuEq. These results demonstrate strong structural continuity along the Red Terror lode and support the geological model guiding Kingston’s extension drilling program.

The proximity and orientation of KSNDDH080 and KSNDDH081 enable Kingston’s geologists to refine the mineralisation geometry in cross-section. The company indicated these intercepts will inform planning for additional step-out drilling to the north. The consistent gold and copper grades across these holes suggest the high-grade core extends over a significant strike and dip range, a key consideration for future resource modelling.

Down-Dip Extensions in KSNDDH075 and KSNDDH076 Indicate Open Lodes at Depth

Drill holes KSNDDH072 through KSNDDH076 targeted down-dip extensions beneath historical stoping areas. KSNDDH075 and KSNDDH076 successfully intersected gold-copper mineralisation below previously mined zones. KSNDDH075 returned 3.00 metres at 1.67g/t gold, 1.62% copper, and 5g/t silver from 137.0 metres, including a higher-grade 2.00 metre interval at 2.49g/t gold and 1.99% copper. KSNDDH076 yielded a broader intercept of 15.00 metres at 1.19g/t gold and 0.60% copper from 94.0 metres, plus a secondary zone of 9.00 metres at 0.11g/t gold and 0.49% copper from 123.0 metres.

Crucially, Kingston stated that mineralisation remains open at depth beneath historical stoping and beyond the current Mineral Resource limits. This highlights significant growth potential, as the resource boundary at depth is defined by drilling extent rather than geology. Additional down-dip drilling is planned to explore this target area further.

Red Terror Results Extend Beyond Current 214kt Mineral Resource Boundary

Kingston reported the Red Terror Mineral Resource, as of 13 November 2025, at 214 kilotonnes grading 1.5% copper and 1.07 grams per tonne gold. The recent drilling results from KSNDDH080, KSNDDH081, KSNDDH075, and KSNDDH076 lie outside this resource envelope. These exploration results are not included in any existing reserve or resource estimates and represent unquantified upside potential.

The company aims to leverage these results alongside further step-out drilling to significantly grow the Mineral Hill resource over the next year. This approach indicates that Red Terror is an actively expanding target rather than a fully delineated deposit. Any future resource updates incorporating these extensions will follow formal JORC-compliant estimation procedures; no updated resource figures have been released in this update.

Northern Extension Target Supported by Historical Data Guides Next Drilling Phase

Kingston identified a potential northern extension to Red Terror mineralisation based on historical data. High-grade channel samples from the cross-cut north of KSNDDH080 and KSNDDH081 (sample CS1160ES) returned 10.80 metres at 1.03g/t gold and 0.46% copper from 39.3 metres, including 2.00 metres at 2.92g/t gold and 1.03% copper. Additionally, a historic surface diamond drill hole TMH116, located about 100 metres north of the development drive, intersected 7.00 metres at 1.31g/t gold and 0.54% copper from 99.0 metres, and 6.00 metres at 0.61g/t gold from 110.0 metres.

Kingston cautioned that it has not verified QAQC protocols, chain of custody, or assay certificates for these historical data and advised investors not to rely heavily on them. They are provided solely for geological context and do not contribute to any Mineral Resource estimate. Nonetheless, these data support targeting the northern corridor with new drilling, which is part of Kingston’s forward program.

CEO Andrew Corbett Highlights Focus on Scaling Mineral Hill Resources

Managing Director and CEO Andrew Corbett commented on the importance of the Red Terror results within the company’s broader Mineral Hill strategy: "The drill rig has been delivering outstanding results from multiple targets at Mineral Hill. Red Terror was historically mined, and these results show very high-grade gold and copper along trend. We are intensifying our efforts to grow Mineral Hill’s resource scale, and these results help us plan further step-out drilling."

Corbett’s remarks position the Red Terror drilling as part of a coordinated, multi-target exploration program across Mineral Hill rather than an isolated effort. The reference to "multiple targets" indicates a comprehensive strategy to expand resources project-wide. The company did not disclose timelines for updated resource estimates, production guidance, or drilling budgets. The immediate impact on share price was not evident from public information.

Copper Equivalent Grades and Metallurgical Recovery Assumptions at Mineral Hill

Kingston provided copper equivalent (CuEq) grades to facilitate comparison of polymetallic intercepts on a uniform basis. CuEq calculations multiply each metal’s grade by its price and recovery, then divide by copper’s equivalent figure. Price assumptions are based on market consensus forecasts adjusted for reasonable economic extraction prospects, consistent with JORC guidelines.

Metallurgical recoveries used in these calculations derive from Mineral Hill’s historical production (2010–2016) and recent metallurgical testing. The company believes all metals included have demonstrated potential for recovery and sale. Mineral Hill currently produces metal concentrate, confirming active processing infrastructure. Investors should note CuEq grades are a reporting convention; actual recoveries and payable metals depend on final processing and offtake arrangements at commercial extraction.

Implications of Red Terror Extensions for Kingston’s Mineral Hill Growth Strategy

Mineral Hill is Kingston’s flagship asset, with a stated objective to materially increase its Mineral Resource over the next twelve months. The Red Terror deposit, currently estimated at 214kt grading 1.5% copper and 1.07g/t gold, is a key growth target within this resource base. The recent drilling success extending mineralisation down-dip and northward beyond existing boundaries aligns with this growth ambition.

Investors should watch for further step-out drilling results at Red Terror, progress at other Mineral Hill targets, and announcements of updated Mineral Resources incorporating new intercepts. Kingston has not disclosed drilling budgets, target dates for resource updates, or revised production or Revenue guidance in this release. These remain critical milestones in the coming months.

Drill Hole Collar Data and JORC Compliance

The update includes a full list of significant intercepts and drill hole collar details. Kingston reported results in compliance with the JORC Code 2012. All current campaign drill results meet the company’s QAQC standards for chain of custody and assay verification. Historical channel samples and TMH116 results are provided for geological context only, with explicit caveats regarding reliability.

Detailed tables, cross-sections, plan maps, and long-section figures accompany the release, fulfilling ASX Listing Rules requirements for exploration disclosures. The long-section figure illustrates new drill intersections relative to the current Mineral Resource outline, supporting Kingston’s claim of significant mineralisation beyond the existing resource boundary. Additional step-out drilling is necessary before these intersections can be formally included in a JORC-compliant resource estimate.