Gateway Mining Expands Cowza Gold Discovery to 3.5km of Continuous High-Grade Mineralisation at Yandal Project

Rapid Growth of Cowza from 800 Metres to 3.5 Kilometres Strike Length

Gateway Mining's Cowza gold discovery has rapidly expanded its mineralised footprint. Initially identified over approximately 800 metres of strike length, the area grew to 2.5 kilometres following the 21 July 2026 announcement. The latest update on 27 July 2026 extends this to 3.5 kilometres of continuous high-grade gold mineralisation, underscoring the discovery's scale and reflecting the systematic step-out drilling approach by the exploration team.

Consistent drilling results across multiple traverse lines underpin this expansion. Each drill section intersected gold mineralisation within a broad zone of shearing, quartz veining, and alteration, indicating a coherent mineralised system rather than isolated pockets. Drilling beyond assayed areas has encountered similar favourable structures and alteration, providing early confidence in system continuity over a broader area.

Geological and Structural Controls at Mafic-Intermediate Volcanic Contact

The Cowza mineralisation is hosted along the contact between mafic and intermediate volcanic units, a lithological boundary known for gold prospectivity in Western Australia's Eastern Goldfields. This contact features persistent shearing, silica-carbonate alteration, and quartz veining, all typical of significant gold deposits in the region.

A notable feature is a broad demagnetisation zone extending across the mineralised trend, indicative of substantial hydrothermal fluid flow linked to gold mineralisation. Cowza lies within a roughly 4.5-kilometre structural corridor exhibiting hallmarks of a major gold system, including strong demagnetisation, extensive shearing, veining, and alteration. This framework suggests the mineralised footprint could extend well beyond the current 3.5-kilometre strike length, offering multiple exploration targets within the larger corridor.

Consistent Gold Mineralisation Confirmed by Latest Aircore Drilling

The most recent aircore drilling results confirm consistent gold mineralisation across Cowza. Highlights include 4 metres at 11.1 grams per tonne gold from 72 metres depth in hole CSAC0019, 8 metres at 3.1g/t gold from 76 metres in CSAC0036, 4 metres at 3.3g/t gold from 80 metres in CSAC0039, and 15 metres at 0.7g/t gold from 72 metres to the bottom of hole CSAC0009, including an internal 4-metre intercept at 1.2g/t gold. These intercepts demonstrate strong continuity across all drill traverses tested.

The distribution of intercepts across multiple drill lines reinforces Cowza's coherent gold system. Every drill traverse has returned gold mineralisation, indicating a broad mineralised zone rather than isolated structures. The consistent grades and geological signatures provide Gateway's management with confidence in Cowza's potential as a large, continuous, and fertile mineralised system warranting rapid testing.

Northward Drilling Extends Potential Mineralised Footprint with Assays Pending

Gateway Mining has completed approximately one kilometre of additional drilling north of the defined mineralised zone. Although assay results are pending, this drilling has intersected the same favourable sheared contact, veining, and alteration on every drill section, suggesting the Cowza system may extend significantly beyond the current limits.

Assay results from these northern holes will be released in due course. The continuation of favourable geological features in unassayed holes offers early encouragement that mineralisation could extend beyond the 3.5-kilometre strike length, potentially reaching approximately 4.5 kilometres or more, further supporting the major gold system hypothesis.

Second RC Rig Deployed to Accelerate Fresh Rock Exploration

To expedite exploration, Gateway Mining has deployed a second reverse circulation (RC) drill rig, which began operations during the announcement week. This addition allows more aggressive drilling to delineate Cowza's mineralised footprint in fresh rock, advancing beyond surface and near-surface aircore results.

RC drilling penetrates deeper and yields better sample recovery in competent rock compared to aircore, enabling testing of gold mineralisation at depth. This progression from aircore to RC drilling aligns with standard gold exploration practices and marks a natural escalation as targets are refined. The second rig accelerates Gateway's ability to unlock Cowza's full potential and establish resource parameters.

Strong Financial Position Supports 2026 Exploration Program

Gateway Mining is well-funded to execute its 2026 exploration plans across the Yandal Project. As of 31 March 2026, the company held $15.7 million in cash and $5.6 million in liquid ASX securities, totaling approximately $21.3 million. This liquidity supports aggressive exploration, including multiple drill rigs and rapid testing of Cowza and other prospects.

The robust balance sheet enables Gateway to pursue Cowza and other targets without funding constraints or reliance on equity raises that might dilute shareholders. This financial strength underpins management’s strategy to rapidly advance Cowza’s mineralisation scale and continuity.

Concurrent RC Drilling at Haflinger and Broader Yandal Exploration Strategy

Gateway is also conducting RC drilling at the Haflinger prospect within the Yandal Project, running parallel to Cowza's accelerated program. This multi-target approach reflects a disciplined exploration strategy, maintaining momentum across several prospects while prioritising Cowza.

The Yandal Project covers a significant landholding in Western Australia's Eastern Goldfields, a region renowned for major gold deposits. Gateway’s ability to manage simultaneous drilling campaigns demonstrates commitment to systematic exploration and diversified target testing across the project area.

CEO Richard Pugh Highlights Cowza’s Major Gold System Potential

Gateway Mining CEO Richard Pugh emphasized Cowza's rapid growth and significant potential. He noted the mineralisation now spans approximately 3.5 kilometres and remains open in multiple directions. The deposit lies within a roughly 4.5-kilometre structural corridor exhibiting characteristics of a major gold system, including strong demagnetisation, extensive shearing, veining, and alteration.

Mr. Pugh expressed optimism about drilling beyond assayed areas intersecting similar favourable structures and alteration. He stated that this evidence suggests Cowza could become a significant gold discovery within the Yandal Project, with multiple years of exploration ahead.

Investor Outlook on Cowza’s Development and Market Implications

Investors will closely monitor Gateway Mining’s exploration progress, especially assay results from the northern drilling that could extend Cowza’s strike length and validate the major gold system theory. The second RC rig’s systematic delineation of mineralisation in fresh rock will provide critical data on continuity and grade, essential for resource assessment.

Should drilling continue to support geological interpretations, a mineral resource estimate may follow. The Eastern Goldfields region has a strong history of major gold discoveries advancing to production, and Cowza’s geological setting aligns with known significant deposits. However, consistent grades and mineralisation continuity must be demonstrated before resource estimation becomes feasible.