Aruma Resources Initiates Phase 2 Diamond Drilling at Tillex Copper-Silver Project in Ontario's Timmins Mining District

Phase 1 Drilling Reveals High-Grade Copper-Silver Mineralisation at Tillex

Aruma’s Phase 1 drilling at Tillex delivered multiple significant copper and silver intersections that underpin the Phase 2 expansion. Notable results include 89 metres grading 2.04% copper and 12.31 grams per tonne silver from 38.8 metres depth in hole TX26-004. Within this interval, higher-grade zones were intersected, such as 8 metres at 3.13% copper and 5.5g/t silver from 55 metres, 3.9 metres at 4.06% copper and 43.6g/t silver from 74.1 metres, and 16.87 metres at 4.02% copper and 16.85g/t silver from 93 metres.

Hole TX26-002 returned 87 metres at 1.99% copper and 12.63g/t silver from 30 metres depth, including high-grade subintervals of 17.74 metres at 3.38% copper and 7.46g/t silver from 42 metres, 5.6 metres at 5.36% copper and 56.89g/t silver from 98 metres, and 12.1 metres at 3.80% copper and 34.14g/t silver from 92.5 metres. Additionally, hole TX26-005 intersected 59 metres at 1.91% copper and 8.80g/t silver from 38 metres depth, with 17 metres at 2.84% copper and 10.48g/t silver from 43 metres and 9.07 metres at 3.13% copper and 12.80g/t silver from 80 metres. These results confirm Tillex as a project with wide, consistent zones of economically significant copper and silver mineralisation.

Strategic Geological Location in the World-Class Timmins Mining District

The Tillex Copper-Silver Project lies within the globally recognized Tier 1 Timmins minerals district in Ontario, Canada, one of the world’s most prolific mining regions. This prime location offers substantial geological and operational benefits for Aruma’s exploration efforts, supported by excellent infrastructure including highway and road access enabling year-round drilling operations. The Timmins district is renowned for its rich mining heritage and hosts significant mineral deposits within a favourable geological framework.

Tillex is approximately 60 kilometres from the Kidd Creek Copper-Zinc-Silver Mine, one of the world’s largest volcanogenic massive sulphide (VMS) deposits. Historically, Kidd Creek has produced around 40 million pounds of copper, 82 million pounds of zinc, and 1.5 million ounces of silver. Aruma’s geological interpretation suggests that Tillex hosts VMS-style copper-silver mineralisation in a similar geological setting to Kidd Creek, highlighting the project’s potential to contain significant economic mineral deposits. Proximity to this major mining operation reinforces the Timmins district’s prospectivity for VMS-style deposits.

Phase 2 Drilling Program and Targeting Strategy

Aruma’s Phase 2 drilling at Tillex is designed to build on Phase 1’s positive outcomes, comprising approximately 3,600 metres of diamond drilling targeting the southwest strike extension of the Tillex mineralised trend and a strong shallow-plunging, southwest-striking electromagnetic (EM) conductor identified by downhole electromagnetic (DHEM) surveys during Phase 1. The program aims to better define the geometry, continuity, and extent of high-grade copper mineralisation along strike and at depth.

This targeting strategy integrates drilling results with geophysical data. Phase 1 DHEM surveys revealed a significant conductive feature interpreted as potential copper sulphide mineralisation, extending beyond historical drilling footprints. This conductor represents a key target for Phase 2. To refine targets and identify additional conductive zones, Aruma plans DHEM surveys on selected Phase 2 drillholes. These surveys will optimize drill targeting and guide ongoing exploration, creating a dynamic feedback loop for refining the mineralised system understanding as drilling progresses.

Extent and Characteristics of Mineralisation at Tillex

The Tillex Project is currently defined by drilling over approximately 450 metres of strike, featuring very wide intersections of high-grade copper and silver mineralisation. This strike length is established through Aruma’s Phase 1 drilling and previous operators’ drilling. Mineralisation extends to depths of about 150 metres below surface and remains open at depth, indicating further potential beyond current drilling.

Tillex is characterised as a high-grade copper sulphide deposit with multiple significant copper intersections from both Phase 1 and historical drilling. The consistent, wide intersections across multiple drillholes suggest a coherent mineralised system rather than isolated zones. Aruma’s geological interpretation classifies Tillex as a potential VMS-style deposit, which carries significant exploration implications given the nearby Kidd Creek operation’s scale. The broad intersections and consistent grades support the potential for a substantial mineral system.

Electromagnetic Surveying Enhances Deep and Strike Extension Targeting

Downhole electromagnetic surveying has been integrated into Aruma’s exploration methodology at Tillex, revealing a significant target beyond the current drilling footprint. Phase 1 DHEM surveys identified a compelling conductive feature associated with potential copper sulphide mineralisation. This shallow-plunging southwest conductor provides a 3D target guiding Phase 2 drilling orientation and placement. The geophysical response indicates a coherent feature correlating with copper sulphide mineralisation intersected earlier.

Phase 2 drilling will establish platform holes for further DHEM surveys, enabling an iterative exploration process. Drilling provides access for new geophysical surveys, which refine targeting for subsequent drilling phases. This strategy maps conductors along strike and below current drilling, allowing prospecting beyond the existing drill grid. Combining drilling data with geophysical targeting aims to identify the full mineralised system extent and locate higher-grade zones potentially representing the Tillex core. EM surveying particularly aids in identifying depth extensions where direct drilling is costlier without geophysical guidance.

Progressing Toward Mineral Resource Estimate and Development

Aruma’s drilling campaigns at Tillex aim to define the scale, continuity, and extent of copper mineralisation along strike and at depth to support advancement toward a Mineral Resource Estimate (MRE). Phase 2 drilling is a key step in this progression, generating sufficient data quality and volume to meet international resource definition standards.

A maiden Mineral Resource Estimate would mark a significant milestone, establishing Tillex as a defined mineral asset. Managing Director Grant Ferguson stated that Phase 2 drilling is designed to advance the project toward a significant maiden MRE. The program also assesses broader regional resource potential, indicating exploration beyond immediate known mineralisation to understand the larger geological system. This approach aligns with standard exploration methodologies and suggests Tillex may be part of a larger multiple-target district opportunity within Timmins.

Phase 2 Drilling Timeline and Results Release

Aruma confirmed that drilling at Tillex is underway and expected to finish within about one month from the 22 July 2026 update. This efficient schedule for approximately 3,600 metres of diamond drilling reflects mobilised rigs and infrastructure, possibly optimized for seasonal conditions or to maintain exploration momentum.

The company will progressively release drilling results as they become available rather than waiting for phase completion. This approach allows investors and market participants to monitor exploration progress continuously and enables management to adapt drilling plans based on interim results. Result release timing depends on drilling pace and internal assay and data validation processes, helping maintain market awareness throughout exploration.

Management’s Confidence in Tillex’s Growth and Strategic Value

Grant Ferguson, Aruma’s Managing Director, emphasized the strategic importance of Tillex within the company’s portfolio. He noted that Phase 2 drilling represents a critical step in unlocking a high-grade copper-silver system in the Timmins district. Phase 1 delivered outstanding high-grade intersections and identified a compelling downhole EM conductor open along strike and at depth. Phase 2 aims to test these extensions, expand the mineralised footprint, and progress toward a significant maiden Mineral Resource Estimate.

Ferguson highlighted confidence in the project’s growth potential based on excellent drill results, robust geophysical targets, and Tillex’s location in a premier mining district. He indicated the company is targeting a potential plunging higher-grade zone within a larger mineralised system. Ferguson looks forward to updating the market as results arrive and advancing Tillex toward becoming a major copper development opportunity for Aruma, underscoring its potential as a material asset warranting focused capital and management attention.

Aruma Resources Corporate Overview and Project Portfolio

Aruma Resources Limited is an Australian-incorporated company listed on the Australian Securities Exchange under ticker AAJ. As of the update date, the company had 733,768,358 ordinary shares issued, along with 281,005,078 listed options, 167,097,892 unlisted options, and 135,540,500 performance rights. Headquartered at Unit 2, 88 Forrest Street, Cottesloe, Western Australia, the board includes James Moses (Non-Executive Chairman), Grant Ferguson (Managing Director), and Brett Smith (Non-Executive Director). The Tillex project in Canada represents Aruma’s international exploration efforts, diversifying its geographic exposure beyond Australia.

Focusing on Tillex in the Timmins district strategically positions Aruma in copper exploration within a Tier 1 mining jurisdiction. Copper’s strategic importance is growing due to its role in renewable energy infrastructure and electrification. The Tillex project offers Aruma exposure to copper exploration upside in a well-established mining region, potentially providing a pathway to development-stage assets. The Phase 2 drilling investment demonstrates management’s commitment to advancing exploration and testing geological and geophysical targets identified in Phase 1.