Kali Metals Reports Strong Phase II Drilling Results at Marble Bar Gold Project; Discovers Four New High-Grade Gold Prospects

Phase II Drilling Validates Down-Dip Mineralisation at Tiger Prospect

During the quarter, Kali Metals conducted 4,059 metres of reverse circulation and 281.7 metres of diamond drilling aimed at tightening line spacing from roughly 200 metres to 40 metres across Sherman, Churchill, and Tiger prospects. The drilling also targeted mineralisation extensions to depths of approximately 50 metres. Initial results from the Tiger II prospect build on Phase I findings, which included 2m @ 4.1 g/t Au from 17m.

Key Phase II intercepts at a 0.5 g/t gold cut-off include 2m @ 1.6 g/t Au from 29m (Hole MBRC079), 2m @ 1.6 g/t Au from 29m and 3m @ 0.6 g/t Au from 34m (Hole MBRC080), 3m @ 3.6 g/t Au from 41m (Hole MBRC081), and 5m @ 1.0 g/t Au from 41m (Hole MBRC082). Mineralisation is characterised by quartz veining, potassic alteration, and sulphides, and remains open down dip, indicating potential for further extensions. These results confirm mineralisation continuity across multiple drill holes and support the company’s methodical exploration approach at Marble Bar.

Stug Prospect Emerges as a Premier New High-Grade Gold Target

Located within tenement E45/4700, the Stug prospect has been identified as the highest-priority new target during recent mapping activities. It features strongly potassic-altered quartz veining over about 200 metres of strike. Six rock-chip samples from Stug returned impressive grades, with five above 3 g/t Au and four exceeding 5 g/t Au, including a standout 53.1 g/t Au assay. Other notable results include 6.0 g/t, 5.5 g/t, 5.0 g/t, and 3.9 g/t Au.

The mineralisation at Stug is interpreted to be associated with a gently north to north-east dipping shear-controlled alteration zone marked by strong potassic alteration, quartz veining, and minor pyrite. The consistent high-grade assays and geological characteristics underscore Stug’s significance as an exploration target, warranting further drill testing following detailed mapping and systematic sampling.

Four Additional Gold Prospects and Expanded Exploration Pipeline Identified Post-Quarter

Following the quarter, Kali Metals announced four new gold prospects—Vickers, Pershing, Chiha, and Stug—discovered through ongoing mapping and rock-chip sampling. The Vickers prospect yielded assays of 5.8 g/t, 2.0 g/t, and 0.9 g/t Au; Pershing delivered 1.7 g/t, 1.3 g/t, 1.1 g/t, and 1.0 g/t Au; and Chiha returned 1.8 g/t Au.

Additionally, rock-chip sampling reinforced existing targets: Sherman prospect’s south-east extension returned 8.8 g/t Au, Churchill’s new east zone yielded 4.7 g/t Au, and Tiger 2 prospect showed 1.7 g/t and 1.2 g/t Au. A total of 48 rock-chip samples were collected from tenements E45/4700 and E45/6389 during the quarter to identify new prospects and extensions. These findings support advancing new targets toward drill testing and demonstrate an expanding exploration pipeline across Marble Bar.

Soil Sampling Defines 6.5km Gold-in-Soil Anomaly and Multiple Target Extensions

Kali Metals collected 1,215 soil samples across tenements E45/6389, E45/6429, and E45/6430, delineating several coherent gold-in-soil anomalies with peak grades up to 0.434 g/t Au. The most prominent anomaly is a 6.5-kilometre east-west trend within tenement E45/6430, identified post-quarter as a new high-grade gold-in-soil anomaly and a significant exploration target.

The program also identified a 1.1-kilometre north-west extension of the Tiger gold prospect into E45/6389 and a 1.1-kilometre north-south anomaly in eastern E45/4700 prioritized for follow-up. These results generate multiple new target areas for further mapping and rock-chip sampling, highlighting the potential for additional gold mineralisation and justifying ongoing exploration across Marble Bar tenements.

Strategic Location and Geology Enhance Regional Gold Potential

The Marble Bar Gold Project lies about 10 kilometres east of Marble Bar town and 10 kilometres north of the operational Klondyke Gold Project, covering 118 square kilometres dominated by the Mount Edgar Granitic Complex. The proximity to Klondyke validates the regional gold potential and suggests similar mineralisation styles and deposit geometries may occur at Marble Bar.

Mineralisation styles at Marble Bar involve quartz veining, potassic alteration, and sulphide mineralisation typical of the Mount Edgar Granitic Complex. The Pilbara region’s established gold production history and the nearby Klondyke operation provide geological context and development advantages, supporting Kali Metals’ exploration strategy.

Airborne Hyperspectral Survey Scheduled for Multiple Projects, Results Expected in August

Kali Metals finalized preparations for a high-resolution airborne hyperspectral survey over the Marble Bar Gold Project, DOM's Hill, and Pear Creek project areas during the quarter. The survey, featuring a pixel size as fine as 2 metres, aims to generate new targets for ground verification and potential drilling. Completion was anticipated by late July 2026, with results and interpretation expected in August.

This advanced survey technique maps mineralogical alteration assemblages linked to gold mineralisation, such as potassic and argillic alteration. Applying this technology across multiple projects reflects a systematic target generation approach and will help refine exploration strategies. The survey outcomes will guide follow-up mapping, rock-chip sampling, and potential diamond or reverse circulation drilling.

Higginsville Lithium Project Drilling Preparations Underway Following Quarter End

Post-quarter, Kali Metals conducted field visits to the Higginsville Lithium Project to follow up on lithium geochemical targets. Preparations are underway for an upcoming RC drilling program at Higginsville in the coming months. Although limited details were provided, this activity highlights the company’s commitment to advancing its diversified exploration portfolio beyond gold.

Western Australia’s lithium sector is attracting substantial interest due to global demand for lithium-ion battery materials. Kali Metals’ engagement at Higginsville demonstrates its strategy to pursue lithium alongside gold exploration at Marble Bar, DOM's Hill, and Pear Creek. The planned RC drilling marks a significant step forward, indicating identified targets warrant drill testing. Investors should monitor the timing and outcomes of this program as a key catalyst for the company’s lithium assets.

Robust Cash Position and Completed Placement Bolster Exploration Initiatives

At quarter-end, Kali Metals held $6.84 million in cash with zero debt, supporting its exploration programs. The company completed Tranche 2 of its placement during the quarter, with directors subscribing for approximately $95,000 at $0.18 per share, signaling strong board confidence in the exploration strategy.

This solid financial footing enables Kali Metals to fund planned activities—including the hyperspectral survey, Higginsville RC drilling, and continued drilling and mapping at Marble Bar—without immediate capital raises. Directors’ participation at $0.18 per share further reflects management’s confidence in the company’s valuation and exploration outlook.

Mineralisation Continuity Over 3km Strike Length Highlights Resource Potential

Phase II drilling results demonstrate mineralisation continuity across Sherman, Tiger, Tiger 2, and Churchill prospects over an approximate 3-kilometre strike length. The company reports strong down-dip continuity and multiple parallel zones, suggesting a sizeable gold system rather than isolated occurrences.

Down-dip continuity indicates mineralisation extends beyond near-surface intersections, potentially increasing resource tonnage at depth. The presence of parallel mineralised zones may further enhance resource size. Kali Metals’ approach to reduce drill line spacing from 200 metres to 40 metres illustrates a focused strategy to define mineralisation comprehensively and advance towards resource estimation.