Hamelin Gold Reports High-Grade Gold Intersections at Aurora Lode in Western Australia's Day Dawn Project

Discovery of Shallow High-Grade Aurora Lode at Day Dawn

Hamelin Gold’s initial reverse circulation drilling at the Day Dawn Project has defined a shallow, high-grade gold lode named Aurora, located within the company's tenements approximately 10 kilometres northwest of Newcrest Mining’s Telfer gold-copper mine. The first 15 holes of the 28-hole Phase 1 program yielded multiple significant gold intersections, notably 3 metres at 93.4 grams per tonne from 9 metres depth. Other notable results include 3 metres at 17.1 g/t Au from 17 metres, 4 metres at 21.0 g/t Au from 27 metres, and 3 metres at 18.3 g/t Au from 35 metres.

The shallow depth of these mineralised zones is significant for an exploration-stage gold project, indicating potential for cost-effective extraction. Hamelin Gold highlights that the Day Dawn mineral system remains underexplored, presenting considerable upside potential. The Aurora Lode aligns with the company’s exploration model, which draws parallels to the geological and mineralisation characteristics of the nearby Telfer deposit, one of Australia’s largest gold discoveries. This model guides systematic targeting of additional lode-style mineralisation across the Day Dawn tenure.

Completion of Phase 1 Drilling and Pending Assay Results

Hamelin Gold has finalized its Phase 1 reverse circulation drilling program, completing 28 holes totaling approximately 2,400 metres at Day Dawn. Results from the initial 15 holes were disclosed in the July 2026 investor update. The remaining assay results from Phase 1 holes are expected within 2 to 3 weeks of that update, pending laboratory processing. This phased release approach is common in exploration to provide timely updates while assays are sequentially analysed.

The Phase 1 drilling outcomes have confirmed the Aurora Lode as a high-grade target within the targeted stratigraphic horizon. Remaining assays are anticipated to further define the lode’s grade and extent and may include results from the Altus and Sparrows Lodes, additional targets identified during early drilling.

Phase 2 Reverse Circulation Drilling Scheduled for August 2026

Following Phase 1, Hamelin Gold plans a Phase 2 reverse circulation drilling campaign of approximately 3,000 metres, set to commence in mid-August 2026. This program aims to extend the Aurora Lode down plunge to test for continuity and additional mineralisation along strike. It will also follow up on Altus and Sparrows Lodes and investigate other parallel lode targets identified through geological mapping and initial drilling.

The increased drilling meterage in Phase 2 reflects the company’s confidence in Day Dawn’s prospectivity based on early results. The phased approach allows integration of Phase 1 learnings to optimise drill targeting and hole depths, improving the definition of Aurora Lode at depth and testing adjacent lode systems, potentially establishing multiple economic zones.

Co-Funded Deep Diamond Drilling Under Exploration Incentive Scheme

Hamelin Gold has secured co-funding through the Exploration Incentive Scheme (EIS) for a diamond drilling program commencing in September 2026. This deep drilling will target reef-style mineralisation at interpreted stratigraphic positions termed the 'E-Reef' and 'M-Reef' within the Day Dawn system, at depths between 1,200 and 1,500 metres. This represents a strategic shift to test deeper mineralisation analogous to Telfer’s bulk ore zones.

The EIS co-funding validates the project’s prospectivity and supports capital-intensive deep drilling for a junior explorer. The geological model is based on Telfer’s deposit geometry, with Aurora-type lodes at Day Dawn stratigraphically above the main mineralisation. Deep drilling will assess whether similar large-scale mineralisation exists below the shallow high-grade Aurora Lode, combining shallow reverse circulation and deep diamond drilling to comprehensively evaluate near-surface and deep mineral potential.

Geological Context of Day Dawn in the Paterson Province

Located in Western Australia’s Paterson Province, the Day Dawn Project lies near the Telfer gold-copper mine, operated by Newcrest Mining, which contains over 20 million ounces of gold. This proximity provides a proven geological framework and precedent for large-scale mineralisation. The Paterson Province has a rich history of significant gold discoveries and continues to attract exploration interest from major and junior companies targeting analogous deposits.

Hamelin’s exploration strategy explicitly references the Telfer deposit’s geology and mineralisation style, as detailed in the 2020 Society of Economic Geologists Special Publication by Wilson et al. The Day Dawn mineral system remains largely untested, offering substantial exploration upside. This analogy-driven model reduces geological risk by focusing on proven mineralisation environments, while the limited prior exploration reduces execution risk by providing a large, underexplored area.

Hamelin Gold’s Capital Structure and Market Overview

As of 30 June 2026, Hamelin Gold had 198.3 million shares issued and 17.3 million employee and broker options outstanding, totaling a diluted share count of 215.6 million. With a share price of 14 cents, the market capitalisation stood at approximately $27.8 million, and the enterprise value was estimated at about $25.4 million after accounting for cash reserves. The company held roughly $2.4 million in cash at June 2026, supporting ongoing exploration and operational activities.

The board includes Non-Executive Chairman Will Robinson, Managing Director Peter Bewick, and Non-Executive Directors Philip Crutchfield and Justin Osborne. Peter Bewick, a member of the Australasian Institute of Mining and Metallurgy and the Competent Person for the exploration results, brings relevant expertise and oversees the company’s exploration progress.

Hamelin Gold’s Broader Exploration Portfolio

In addition to Day Dawn, Hamelin Gold owns exploration tenements across Western Australia, including West Tanami, Glen Lakes, Venus, and Auralandia projects. These assets provide geographic and geological diversification within the Western Australian gold sector. Day Dawn is the company’s primary focus, reflecting management’s view of its near-term potential. The broader portfolio offers a pipeline of targets for future advancement based on capital availability and exploration success.

Concentrating exploration efforts on Day Dawn aligns with best practices, focusing resources on the most promising assets during early-stage exploration while maintaining tenure over other prospects to preserve optionality.

Competent Person Statement and Quality Assurance

The exploration results were compiled by Peter Bewick, Managing Director of Hamelin Gold, who is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and meets the requirements of the 2012 edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Bewick holds shares and options in Hamelin and has consented to the inclusion of these results in public disclosures.

The company confirms no new information has materially altered previously released data and that the announcement’s form and context remain consistent with prior ASX releases, providing investor confidence in the accuracy and completeness of the reported results.

Investor Timeline for Day Dawn Project Updates and Milestones

Hamelin Gold has outlined a clear timeline for upcoming Day Dawn milestones. Final assay results from Phase 1 drilling are expected within 2–3 weeks of the July 2026 investor update. Phase 2 reverse circulation drilling of 3,000 metres is scheduled to begin in mid-August 2026, with results to be released progressively. The co-funded diamond drilling program will commence in September 2026, marking a significant escalation in exploration depth and intensity.

This timeline offers investors transparency on the company’s exploration progress and potential value catalysts, with multiple upcoming announcements anticipated within approximately three months. Investors should monitor ongoing assay releases and exploration updates regarding Aurora, Altus, Sparrows, and other targets within the Day Dawn system.