Korab Resources Reports High-Grade Gold Discoveries at Rum Jungle Project, Northern Territory

Expansion of Gold-Rich Sampling Dataset at Rum Jungle Project

During the quarter ended 30 June 2025, Korab Resources conducted a thorough review of all historical rockchip, auger, stream sediment, and soil sampling programs across the Rum Jungle Project. This assessment targeted gold, silver, copper, lead, and zinc potential within multiple mining licences and exploration leases, including MLN542, MLN543, MLN512, MLN513, MLN514, MLN515, and exploration leases EL29550 and EL31341, which were consolidated into EL34148 on 24 July 2025 after the reporting period.

The company emphasized that due to the extensive volume of samples and numerous maps and plots produced, the formal report concentrated on significant findings. Sampling encompassed diverse geological environments, with rockchip samples collected from outcrops, rubble, gossans, and reefs during multiple mapping initiatives. This comprehensive data collection has established a robust geochemical foundation for ongoing exploration targeting.

Multiple Locations Yield High-Grade Gold Samples

The June quarter's key outcome was identifying twenty rockchip samples with assay results above 1 gram per tonne gold. The highest-grade sample, ID 1328, taken at coordinates 722632 East, 8556284 North GDA94 at 89 metres elevation, returned an outstanding 27.55 g/t Au, along with 26 ppm cobalt and 170 ppm copper. Additional notable samples include ID 4536 with 7.92 g/t Au and 48 ppm cobalt, and ID 4515 with 6.00 g/t Au and 110 ppm cobalt.

High-grade gold occurrences are distributed across the project, with sample ID 4605 showing 5.80 g/t Au and an exceptionally elevated copper concentration of 4,950 ppm, indicating potential polymetallic mineralisation. Seventeen other samples recorded gold assays ranging from 1.24 g/t Au to 4.70 g/t Au throughout the project area. All gold assays exceeding 0.1 g/t Au have been detailed in appendices to the full quarterly report, providing a comprehensive geochemical baseline.

Integration of Ground Gravity and Magnetic Survey Data Enhances Exploration

Korab Resources incorporated newly acquired ground gravity data covering mining licences MLN542, MLN543, and northern sections of EL34148. This geophysical data was integrated with outcrop geology mapping, interpreted lithology, and territory-wide magnetic first vertical derivative survey data to identify structural and lithological controls on gold mineralisation.

The combined geochemical and geophysical interpretation reveals geological features consistent with gold mineralisation potential within the Rum Jungle Project. Korab Resources highlighted that further drilling is essential to confirm mineralisation continuity, size, and grade. This multi-dataset approach exemplifies the company's systematic exploration strategy aimed at reducing risk and optimizing drill targeting.

Polymetallic Potential Indicated by Multi-Element Geochemical Signature

Beyond gold, geochemical data reveals consistent associations with cobalt and copper. Several high-grade gold samples coincide with anomalous cobalt levels, such as sample ID 4605 with 4,950 ppm copper. Other notable samples include ID 4571 with 1.41 g/t Au and 385 ppm cobalt, and ID 4569 with 2.66 g/t Au, 265 ppm cobalt, and 430 ppm copper. These multi-element signatures suggest polymetallic mineralisation styles at Rum Jungle.

The Rum Jungle Project lies in a region known for prospectivity in multiple commodities, including magnesium, gold, silver, tin, zinc, lead, nickel, copper, cobalt, rare earth oxides, scandium, lithium, iron ore, manganese, uranium, and phosphate. The recent geochemical data enriches understanding of the project's metallogenic potential and may guide targeting of additional elements in future exploration.

Exploration Licence Consolidation Streamlines Tenure

Post-reporting period, Korab Resources consolidated exploration licences EL29550 and EL31341 into EL34148, effective 24 July 2025. This administrative consolidation simplifies tenure management and reduces regulatory obligations. All geological maps and interpretations have been updated to reflect the new licence boundaries.

This consolidation reflects Korab's focused tenure management strategy, facilitating coordinated exploration and drilling programs across contiguous ground.

Rum Jungle Project Overview and Regional Geology

Covering approximately 243 square kilometres near Batchelor, Northern Territory, the Rum Jungle Project is situated about 70 kilometres south of Darwin within the Rum Jungle Mineral Field of the Pine Creek Orogen. This geologically significant province has a rich history of mineral exploration and production. The project's proximity to infrastructure and population centers provides logistical advantages for exploration and potential development.

The Pine Creek Orogen has historically yielded substantial mineral resources and remains prospective for multiple commodities. Korab Resources' tenure in this established district allows leveraging regional geological expertise and infrastructure. The company’s detailed digital elevation and geological mapping underpin systematic exploration efforts.

Mt. Elephant Project Remains Part of Korab's Asset Portfolio

In addition to Rum Jungle, Korab Resources holds the Mt. Elephant Project in Western Australia's Ashburton region, prospective for gold and copper. While the June quarter report focused on Rum Jungle, Mt. Elephant remains a key asset within Korab’s diversified exploration portfolio. No specific exploration activities or results for Mt. Elephant were disclosed during this quarter.

This geographic diversification across two states mitigates exploration risk and enables flexible allocation of resources in response to market and commodity trends.

Capital Structure and Market Overview

At announcement, Korab Resources had 367 million issued shares, with a market capitalisation of approximately A$3 million and a last traded share price of 0.8 cents. As a micro-cap explorer, Korab manages exploration expenditure prudently while maintaining project tenure. Funding ongoing exploration and advancing drilling programs will depend on effective capital management and securing financing.

Immediate share price impact was unclear from public data. Investors should recognize that early-stage exploration companies often experience significant share price volatility, and positive geochemical results do not guarantee commercial success. High-grade sample identification is encouraging but represents early-stage exploration requiring substantial further work.

Next Exploration Phase Focuses on Drilling and Resource Definition

Korab Resources has identified the need for further drilling to establish mineralisation continuity, size, and grade based on surface sampling and geochemical findings. Integration of ground gravity, magnetic surveys, and geological mapping informs drill program design targeting geochemical anomalies and structural controls identified this quarter. Specific timing, budgets, or drilling meters were not disclosed in this report.

Transitioning from surface sampling to drilling marks the next exploration phase at Rum Jungle. Korab's methodical approach to understanding geological controls and structural features supports targeted exploration. Future updates may provide details on drilling plans, budgets, and expenditures. Investors should monitor company announcements for developments on drilling activities and results.