Aguia Resources Reports Unprecedented Gold Channel Sampling Results at Santa Barbara Project, Colombia

Record Gold Grades Achieved from Shaft 2 Channel Sampling at Santa Barbara

Aguia Resources revealed its highest gold channel sampling results to date from Shaft 2 at the Santa Barbara gold project in Bolívar, Colombia. The standout sample returned 128.5 g/t gold over a true thickness of 16 centimetres, alongside another exceptional result of 60.7 g/t gold over 30 centimetres. These grades mark a significant advancement in the company’s underground development and highlight the high-grade nature of the mineralised vein system. The assays were obtained from channel sampling conducted during May and June 2026 on newly developed mine faces within production zones of Vein #1.

In addition to these headline results, multiple samples from Shaft 2 exceeded one ounce per tonne gold equivalent, demonstrating consistent multi-ounce gold grades distributed throughout the vein structure. Managing Director and CEO Timothy Hoskings stated, "The high consistency and distribution of multi-ounce gold grades across these veins underscores why we are moving decisively into deeper exploration, to assess the full scale of this system." This confirms the company’s commitment to expanding underground operations and pursuing deeper drilling to fully understand the mineralised system’s extent.

Two Production Shafts Completed; Shafts 3, 4, and 5 Under Construction

Development of two shafts beneath Vein #1 has been completed, with production sublevels and mine faces now established. This infrastructure milestone advances the project from exploration and early development toward scaled production. Access to new mineralised zones through these shafts is demonstrated by the high-grade samples reported from Shaft 2. The established production sublevels enable systematic extraction of high-grade ore while minimizing waste and managing underground development risks.

Simultaneously, construction is ongoing on shafts 3, 4, and 5, reflecting the company’s commitment to building a multi-access underground operation that supports both production and exploration concurrently. This phased shaft development prioritizes production from proven high-grade zones while progressively opening new exploration areas. Current breast mining techniques target expanding high-grade run-of-mine (ROM) ore production above 10 g/t gold as development continues into lower mine levels, balancing near-term output with longer-term resource definition.

Stope 1 Final Development Yields Consistent High-Grade Gold

Stope 1 produced very high-grade material from its final residual zone before transitioning to new production faces, with grades reported at 63.88 g/t gold, 53.54 g/t gold, 51.02 g/t gold, 46.22 g/t gold, and 33.14 g/t gold. These results confirm the exceptional quality of material extracted and validate the company’s underground mining approach. Multiple narrow-width samples from Stope 1 exceeded one ounce per tonne gold, consistent with other mine zones.

Stope 1 is now permanently closed due to narrow vein widths and proximity to the surface, indicating full extraction or operational limits reached. Future efforts will focus on supporting production while advancing development in Vein #2. This shift marks progress from initial high-grade narrow stopes to a more systematic production model across multiple vein zones, transitioning towards larger-scale, consistent production.

Vein #2 Development Progresses with Grades Above 10 g/t Gold

Development of Vein #2 at Santa Barbara continues with three sublevels active above the main drift and four active mine faces under development. Vein #2 samples consistently grade above 10 g/t gold, aligning with the company’s target of expanding high-grade ROM ore production. This vein appears more laterally extensive than the narrower, higher-grade Stope 1 and may support sustained production. The presence of multiple sublevels and active faces indicates systematic extraction and development.

Sample results from Table 2 show grades ranging from approximately 2 g/t to 21.35 g/t gold across Vein #2 locations, representing diverse mining conditions. Ongoing development alongside shaft construction suggests Vein #2 will significantly contribute to future production volumes at Santa Barbara.

Diamond Drilling Program Scheduled for Q4 2026 to Explore Depth Extensions

Aguia Resources plans a diamond drilling program in the fourth quarter of 2026 to further test the gold system at depth. This next exploration phase will extend beyond underground development sampling to systematic deep drilling aimed at assessing the mineralised system’s geometry, continuity, and grade potential at depth. The timing indicates the company will leverage current underground data to inform drilling targets and design.

This deep drilling is vital to determine whether high-grade mineralisation extends below existing workings and to estimate the project’s resource potential. The company compared Santa Barbara’s development stage to the Buritica Yaragua Mine in 2008, suggesting confidence that Santa Barbara could evolve into a mine of comparable scale and significance. The drilling will provide critical data on strike length, dip extent, and depth persistence of veins, essential for resource estimation.

Diversified Multi-Commodity Portfolio and Geographic Reach

Aguia Resources is an ASX-listed multi-commodity company with diversified assets including pre-production phosphate projects in Rio Grande do Sul, Brazil, and gold projects in Bolívar, Colombia. The acquisition of Andean Mining expanded its portfolio to include gold, silver, and copper projects, broadening commodity exposure and geographic footprint in South America.

With dedicated teams in Porto Alegre, Brazil, and Medellín, Colombia, the company demonstrates strong local presence critical for regulatory, permitting, community relations, and operational management. The geographic diversification between phosphate assets in Brazil and precious metals in Colombia reduces concentration risk and enhances value creation opportunities. Santa Barbara stands as a key near-term production asset within the gold portfolio.

Sample Size Limitations and Early-Stage Mining Uncertainties

The company cautions that results stem from small sample sizes with inherent data limitations. Early-stage and selective mining operations involve variability and uncertainty not fully captured by sample results. The company emphasizes that sample outcomes do not guarantee future production, reflecting standard mineral exploration disclosures. Channel samples represent point data rather than comprehensive bulk or production samples. High grades should be interpreted in the context of early development and challenges in translating samples into consistent production.

Given narrow vein widths (0.07 to 0.23 metres true thickness), mining generates selective samples rather than representative bulk samples. The company’s acknowledgment of these limitations demonstrates responsible disclosure and appropriate investor expectation management. As mining progresses and more data accumulates, reliability of production grade and vein geometry information will improve substantially.

Development Stage Compared to Buritica Yaragua Mine in 2008

Aguia Resources notes that Santa Barbara’s current development stage resembles the Buritica Yaragua Mine in 2008, providing investors with context on its position in the typical Andean gold mine development cycle. This comparison implies potential for Santa Barbara to reach a similar commercial production scale. However, project comparisons have inherent limitations due to geological, operational, and regulatory differences.

The 2008 reference suggests Santa Barbara is approximately 15-18 years behind Yaragua’s development timeline, given the July 2026 announcement date. This does not imply a similar timeframe to reach production, as advances in technology and practices have evolved. The comparison primarily indicates Santa Barbara’s mineralogical and geometric characteristics align with projects capable of becoming significant regional producers. High grades and multiple parallel veins support potential scale and continuity comparable to operating regional mines.

Technical Review and Competent Person Certification

The technical data in the update was reviewed and approved by Raul Sanabria, M.Sc., P.Geo., EurGeol., qualified as a Competent Person under Australian JORC (2012 Edition) and a Qualified Person under Canadian NI 43-101. Sanabria is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and the European Federation of Geologists (EFG). This dual qualification ensures the technical information meets rigorous international standards and is prepared by an expert experienced in narrow-vein, high-grade gold deposits.

Sanabria’s consent to include the technical information "in the form and context in which it appears" provides assurance of accuracy and appropriate presentation. This adherence to best practices in mineral reporting enhances transparency and reliability of the technical statements for investors.