Iltani Resources Reports Exceptional High-Grade Silver Intercepts at Orient East Project in Queensland

Exceptional High-Grade Core Defined by Drillhole ORR164 at Orient East

Drillhole ORR164 at Orient East stands out in the current drilling campaign, intercepting two distinct mineralised zones with grades well above the surrounding envelope. The Upper Zone returned 28 metres grading 95 g/t silver, 7 g/t indium, 2.1% lead, and 2.9% zinc (317 g/t silver equivalent) from 38 metres depth, including a higher-grade 14-metre core grading 176 g/t silver, 13 g/t indium, 3.9% lead, and 5.3% zinc (588 g/t silver equivalent) from 50 metres. Within this, a remarkable 4-metre section from 56 metres graded 323 g/t silver, 28 g/t indium, 7.1% lead, and 10.2% zinc, equivalent to 1,099 g/t silver equivalent.

Grades peaked further with a 1-metre intercept at 58 metres in the Upper Zone returning 398 g/t silver, 59 g/t indium, 8.4% lead, and 19.1% zinc, equating to 1,683 g/t silver equivalent. The Lower Zone in the same hole yielded 30 metres grading 38 g/t silver, 1 g/t indium, 0.7% lead, and 1.1% zinc (117 g/t silver equivalent) from 92 metres, including a 4-metre intercept grading 131 g/t silver, 3 g/t indium, 2.4% lead, and 4.7% zinc (451 g/t silver equivalent). A 1-metre section at 98 metres delivered 292 g/t silver, 8 g/t indium, 4.9% lead, and 10.7% zinc, equivalent to 1,006 g/t silver. Management confirmed mineralisation in ORR164 remains open down-dip, with follow-up drilling planned to test this high-priority extension.

Additional High-Grade Intercepts from ORR160, ORR162, and ORR166 Highlight Mineralisation Spread

Beyond ORR164, the Orient East drilling program has produced further high-grade intercepts in drillholes ORR160, ORR162, and ORR166, demonstrating that exceptional grades are widespread across the prospect. Drillhole ORR160 returned a 9-metre intercept grading 66 g/t silver, 12 g/t indium, 1.7% lead, and 1.7% zinc (215 g/t silver equivalent) from 61 metres, including a tighter 5-metre section grading 104 g/t silver, 21 g/t indium, 2.6% lead, and 2.5% zinc (334 g/t silver equivalent) from 63 metres. Drillhole ORR162 intercepted 40 metres grading 20 g/t silver, 1 g/t indium, 0.5% lead, and 0.6% zinc (66 g/t silver equivalent) from 26 metres, with an 11-metre higher-grade core grading 31 g/t silver, 2 g/t indium, 0.7% lead, and 1.0% zinc (106 g/t silver equivalent) from 35 metres.

Drillhole ORR166 delivered 20 metres grading 51 g/t silver, 9 g/t indium, 1.3% lead, and 0.9% zinc (148 g/t silver equivalent) from 64 metres, including a 4-metre high-grade intercept at 75 metres grading 197 g/t silver, 43 g/t indium, 4.9% lead, and 2.8% zinc (530 g/t silver equivalent). Additionally, a 1-metre intercept at 77 metres returned 458 g/t silver, 45 g/t indium, 11.4% lead, and 3.1% zinc (1,040 g/t silver equivalent). These results confirm that the mineralisation system at Orient East is laterally extensive and maintains consistent grades at depth, supporting plans to upgrade resource confidence through infill and extension drilling.

Orient West Infill Drilling Yields Expected Medium-Grade Mineralisation

Infill drilling at Orient West, including drillholes ORR161 and ORR163, has returned multiple medium-grade silver-lead-zinc-indium intercepts consistent with previous results. Drillhole ORR163 reported 7 metres grading 25 g/t silver, 11 g/t indium, 0.7% lead, and 1.0% zinc (103 g/t silver equivalent) from 20 metres. These grades align with expectations for infill drilling in this area.

Iltani's management highlighted the potential economic importance of the Orient West mineralisation if ore-sorting technology, specifically TOMRA systems, can enhance ore quality before processing. Successful application of ore-sorting could render the medium-grade mineralisation economically viable within a future large-scale open-pit operation, expanding the project's economic footprint beyond high-grade zones.

Drilling Progress and Accelerated Sample Submission Supporting Timely Results

Iltani has completed 81 reverse circulation drillholes totaling 15,485 metres of the planned 110-hole program at the Orient Silver-Indium Project. The company has implemented a regular sample submission schedule, sending assay samples to the laboratory every two to three days, ensuring a steady flow of results throughout the current month and beyond. Approximately two months of drilling remain to complete the program, with most drilling expected to conclude shortly.

The drilling strategy focuses on multiple objectives: tightening intersection spacing to 40-metre centres at Orient East to upgrade resource classification, testing eastern mineralisation limits, and evaluating down-dip extensions of known zones. Recent results from ORR164 confirm continuous high-grade mineralisation along strike and at depth, guiding future drilling priorities.

Diamond Drilling Initiated for Metallurgical Testing and TOMRA Ore-Sorting Evaluation

Alongside reverse circulation drilling, a diamond drill rig has been mobilised to the Orient site to obtain PQ-diameter core samples for metallurgical test work. The core will support TOMRA ore-sorting evaluation, which uses near-infrared and sensor technologies to sort ore in real time, potentially enhancing ore grade and reducing waste sent to processing mills. This could improve project economics by lowering processing costs per tonne.

The diamond drilling and metallurgical testing mark progress toward pre-feasibility and feasibility studies. Tests will examine ore characteristics, mineral liberation, processing performance, and ore-sorting applicability for both high-grade Orient East and medium-grade Orient West material. Successful ore-sorting development could increase the economic viability of broader mineralisation zones. The company will assess drilling priorities and next steps as results emerge.

Systematic Infill and Extension Drilling to Enhance Resource Definition and Confidence

The drilling program aims to upgrade mineral resource classification by reducing intersection spacing to 40-metre centres at Orient East, facilitating a transition from Inferred to Indicated resource status. Most of the central portion of the existing Mineral Resource has now been drilled at this spacing, improving geological and grade control.

Extension drilling targets the eastern limits of mineralisation and down-dip continuity, especially following high-grade results from ORR164. These efforts are expected to increase resource confidence, supporting initial scoping and feasibility studies for an open-pit operation. The ongoing drilling confirms that high-grade mineralisation persists at depth, validating the extension strategy and aiding robust resource estimation.

Project Overview and Regional Exploration Context

The Orient Silver-Indium Project, situated in Herberton, North Queensland, targets polymetallic silver-lead-zinc-indium mineralisation typical of volcanogenic massive sulphide (VMS) or similar hydrothermal systems. Indium, a critical tech metal used in indium tin oxide coatings, semiconductors, and photovoltaic cells, adds significant value as a by-product credit alongside base metals lead and zinc.

The project comprises two zones—Orient East and Orient West—separated by a gap currently being drilled to close. Orient East consistently delivers higher-grade intercepts, while Orient West shows broader mineralised widths with moderate grades. The company’s focus on down-dip extension drilling and ore-sorting technology reflects confidence in the system’s potential scale and supports plans for a large open-pit mine. The location in mineral-rich North Queensland offers logistical advantages with existing mining infrastructure and supply chains.

Managing Director Donald Garner Highlights Significance and Strategic Direction

Iltani Managing Director Donald Garner emphasized the exceptional nature of drillhole ORR164’s intercepts, describing the 28-metre intercept and nested higher-grade cores as "wide intercepts of high-grade silver-lead-zinc-indium mineralisation with exceptional high-grade massive sulphide mineralisation at the core." This suggests potential for beneficiation or selective mining, aligning with the ore-sorting strategy.

Garner confirmed mineralisation in ORR164 remains open down-dip with follow-up drilling planned for this high-priority area. He noted that Orient West results, while lower grade than Orient East, represent successful infill drilling with economic potential if ore-sorting proves effective. With around two months of drilling left and sample submissions every two to three days, Garner expects "results flowing through the coming months as we work to fill the gap between Orient East and West, extend mineralisation along strike and improve grades and confidence." This underscores the company’s systematic approach to de-risking through data acquisition and metallurgical evaluation.

Implications for Resource Estimation and Upcoming Project Milestones

The ongoing drilling campaign and results will enhance geological and grade continuity models for Orient East, enabling an upgrade in mineral resource classification from Inferred to Indicated status due to tighter drill spacing and expanded coverage. This milestone will increase confidence in tonnage and grade estimates necessary for feasibility-level studies.

Diamond drilling and metallurgical testing support early-stage feasibility assessment by providing core for flotation, liberation, and ore-sorting response analysis. Effective ore sorting could render medium-grade material, such as that at Orient West, economically viable. The company plans to evaluate drilling priorities and development steps as new data arrives. Key upcoming milestones include completing the 110-hole program, releasing all pending assay results, and finalizing initial metallurgical tests, expected within two to three months.