Aeris Resources Quadruples Tritton Ore Reserves to 10 Million Tonnes, Cementing Long-Term Copper Hub Vision

Fourfold Growth in Tritton Ore Reserves Strengthens Multi-Decade Operational Strategy

Aeris Resources announced that as of 30 June 2026, total ore reserves at Tritton Operations have expanded from 37,000 tonnes to about 180,000 tonnes of contained copper metal. This considerable increase in mineral inventory marks a pivotal shift for the mid-tier copper and gold producer. The updated ore reserve estimate totals 10 million tonnes grading 1.7% copper, 0.38 grams per tonne gold, and 10 grams per tonne silver across multiple deposits and mining methods.

Executive Chairman André Labuschagne highlighted the strategic importance of this milestone, stating that the enlarged ore reserve base—equivalent to over five years of mill feed at current plant capacity—provides a robust foundation for a long-life, multi-mine copper operation centred on existing infrastructure. This accomplishment reflects the success of both organic exploration investments and acquisition-driven growth, positioning Tritton as a cornerstone long-life asset in Aeris' portfolio. The reserve increase spans several deposits, including newly declared maiden reserves and expansions of established mining areas.

Peel Mining Acquisition Adds 200,000 Tonnes of Contained Copper to Resource Portfolio

The Peel Mining Limited acquisition has accelerated Aeris' expansion by adding the Mallee Bull and Wirlong deposits to its mineral resource inventory. These high-quality assets contribute approximately 200,000 tonnes of contained copper, with about 160,000 tonnes classified as Indicated Mineral Resource. The maiden Mallee Bull ore reserve stands at 2.7 million tonnes containing roughly 66,000 tonnes of copper metal, underscoring the immediate mineable value of these newly acquired assets within the Tritton Operations framework.

Integrating Mallee Bull and Wirlong into the Tritton tenement package strategically broadens the company’s ore sourcing options around established processing infrastructure. These deposits are expected to become key ore sources for Tritton, with considerable potential for further growth through additional drilling and technical studies. The maiden ore reserve declaration at Mallee Bull validates the acquisition strategy and sets a clear path for incorporating these resources into the long-term mine plan. Feasibility studies are underway to evaluate ore transport methods to the Tritton processing plant and support environmental impact statement and permitting processes necessary for project initiation.

Organic Expansion at Avoca Tank and Budgerygar Validates Underground Exploration Approach

Complementing acquisition-driven growth, Aeris has significantly expanded mineral resources organically at Tritton through focused underground exploration drilling. In FY26, underground diamond drilling tripled, concentrating on Avoca Tank and Budgerygar deposits. These exploration and resource extension efforts added over 2 million tonnes of mineral resource, demonstrating the effectiveness of Aeris’ underground exploration investment strategy across the Tritton tenement package.

The Avoca Tank deposit saw a 180% mineral resource increase following discoveries of mineralisation at depth and along strike, establishing it as a high-grade growth target. Resource definition drilling will continue in FY27, aiming to upgrade this resource to ore reserve status. At Budgerygar, targeted drilling resulted in a 317% ore reserve increase after mining depletion compared to December 2024, with much of the growth converted into ore reserve. This deposit is included in the updated ore reserve estimate, illustrating a swift conversion from exploration success to mineable inventory. The ongoing underground development and drilling strategy supports the geological model indicating significant down-dip continuity across Tritton deposits.

Maiden Constellation Underground Ore Reserve Signals Dual-Mining-Method Development

The maiden underground ore reserve declaration at the Constellation project marks a strategic evolution for the deposit, previously limited to open pit reserves. The underground reserve totals 3.8 million tonnes containing approximately 62,000 tonnes of copper metal, complementing the existing open pit reserve and enabling a dual-mining-method operation. This development reflects confidence in mining Constellation via both surface and underground methods, extending the asset’s economic life.

Resource definition drilling will continue to upgrade the remaining 0.5 million tonnes of inferred open pit resource to indicated status before mining. Additional metallurgical testing and plant trials on oxide material aim to improve recoveries and potentially accelerate production timelines. Both open pit and underground reserves at Constellation show significant potential for further growth through ongoing drilling and technical work. The updated reserve estimate offers a comprehensive evaluation of economic extraction potential under both mining methods, establishing a clear development path for sustained production from this key asset.

Mineral Resources Increase 70% to 540,000 Tonnes of Contained Copper Across 33 Million Tonnes

As of 30 June 2026, Aeris’ total mineral resources have grown to 33 million tonnes containing approximately 540,000 tonnes of copper metal, alongside 340,000 ounces of gold and 9.6 million ounces of silver. This represents a 70% increase in contained copper compared to the previous estimate of 310,000 tonnes. The expanded resource base reflects the addition of Mallee Bull and Wirlong deposits via the Peel Mining acquisition and organic growth from exploration and resource definition drilling at Avoca Tank and Budgerygar. Substantial Indicated Resource classifications underpin this estimate, providing a solid foundation for reserve growth and production planning.

The combination of acquisition, organic exploration, and infill drilling has created a diversified, expandable resource portfolio across the Tritton tenements. The geological model confirms that nine of the ten known deposits remain open down dip, with several showing significant vertical extent. The Tritton deposit extends over two kilometres down dip, while Constellation and Murrawombie each extend over one kilometre down dip. These geological features support long-term potential for continued resource growth through sustained underground exploration and extension drilling.

Life of Mine Plan Update and Revised Production Targets Expected in First Half of FY27

Aeris plans to release an updated life of mine plan and revised production targets for Tritton Operations in the first half of FY27. This update will incorporate the expanded mineral resource and ore reserve inventory, establishing long-term production benchmarks aligned with the company’s multi-mine, multi-decade operational strategy. The life of mine plan will be shaped by ongoing technical and feasibility studies across multiple deposits, guiding capital allocation and production scheduling.

The revised production targets will reflect the enlarged resource base and reserve position, highlighting Tritton’s long-term productive capacity under the expanded multi-mine development scenario. This guidance update is a key milestone in Aeris’ growth trajectory, providing shareholders with enhanced visibility into operational and financial potential. Investors should watch for the FY27 guidance release as a critical indicator of management’s confidence and timeline for value realization from the expanded resource portfolio.

Approximately 85,000 Metres of Underground Drilling Planned in FY27 to Sustain Resource Growth

Aeris has committed to an extensive FY27 drilling program, targeting approximately 85,000 metres of underground drilling across Tritton Operations. This substantial exploration investment underscores the company’s confidence in the tenement package’s mineral potential and its goal to convert inferred resources into indicated resources and ultimately ore reserves. The drilling will focus on resource extension and definition at key deposits including Avoca Tank and Budgerygar, where recent campaigns have validated the geological model and identified continued mineralisation at depth and along strike.

The scale of this program demonstrates management’s dedication to sustained resource and reserve growth through systematic underground exploration. The validation of down-dip continuity across multiple deposits and recent drilling successes provide a strong foundation for the FY27 program’s execution. Investors will likely monitor results closely, as positive outcomes could further expand the resource base and support development of additional mining centres within the Tritton complex. This methodical approach to exploration and resource definition underpins Aeris’ long-term strategy to grow mineral inventory and extend operation life.

100% Ownership and Established Processing Infrastructure Provide Competitive Edge at Tritton Operations

Aeris Resources fully owns Tritton Operations in central New South Wales, granting complete operational control and strategic flexibility in resource development. The existing processing plant infrastructure offers a significant competitive advantage and capital asset supporting the company’s strategy to develop multiple ore sources around this facility. Tritton’s location benefits from established mining infrastructure and communities with mining heritage, facilitating permitting and community engagement.

As a mid-tier copper and gold producer, Aeris positions Tritton as a cornerstone asset within its portfolio. Full ownership and operational control enable strategic autonomy in resource development and execution of the long-life, multi-mine copper hub strategy without external constraints. The processing infrastructure represents a substantial sunk cost amortized through production, allowing capital focus on mine development rather than new processing facilities. This competitive positioning enhances economic viability for developing multiple ore sources across the tenements.

Mallee Bull Mine Plan Optimisation and Environmental Permitting Progressing in FY27

At Mallee Bull, Aeris will continue mine plan optimisation and production scheduling in FY27, aiming to increase the maiden ore reserve beyond the current 2.7 million tonnes. Feasibility studies are advancing to assess ore transport options to the Tritton processing plant and to support project planning for the exploration decline. Environmental impact statement and permitting processes are underway to establish regulatory approval pathways for development.

This systematic development approach aims to maximize value from the newly acquired asset through detailed technical and economic optimisation. Transportation logistics and processing integration with Tritton are key feasibility study focuses, as efficient ore delivery is critical to Mallee Bull’s long-term viability as an ore source. The timing of exploration decline development and environmental approvals will chart the course for bringing Mallee Bull into production as a supplementary ore source. Investors should track feasibility and permitting progress as indicators of near-term development timelines.

Strong Down-Dip Continuity and Open-Down-Dip Geology Support Long-Term Resource Growth

FY26 drilling results have validated Aeris’ geological model, confirming significant down-dip continuity and open-down-dip status for Tritton’s copper deposits. Nine of ten known deposits remain open down dip, offering substantial potential for vertical mineralisation extension through continued exploration. Several deposits demonstrate considerable vertical extent: Tritton deposit extends over two kilometres down dip, while Constellation and Murrawombie each extend over one kilometre.

This geological framework is a powerful long-term growth driver, as sustained exploration can deliver meaningful resource additions over time. Successes at Avoca Tank and Budgerygar reinforce confidence that ongoing underground exploration and extension drilling will continue to expand mineralisation. The geological validation from FY26 drilling establishes a solid foundation for long-term productivity and expandability of the Tritton tenement package, supporting Aeris’ strategy to develop a long-life, multi-mine copper operation fueled by organic resource growth.