LinQ Minerals Validates Large-Scale Shallow Copper-Gold Porphyry at Monza, Expands Drilling at Gilmore Project

Monza Prospect Confirms Shallow High-Grade Copper-Gold Mineralisation in Central Zone

LinQ Minerals’ maiden drilling campaign at the Monza prospect during the period confirmed a significant shallow, high-grade copper-gold porphyry system located roughly 1 kilometre northwest of the Estoril deposit. Released assay results from three holes highlight the scale and grade of mineralisation near surface, a factor favorable for potential development economics. Notably, hole MZACD005 returned a 5-metre intersection grading 5.36% copper equivalent and a broader 24-metre zone grading 0.94% copper equivalent within a 208-metre intersection grading 0.61% copper equivalent starting at 38 metres depth.

The drilling indicates a moderate to steep west-dipping porphyry system interpreted to plunge steeply northwest to north-northwest. The program has extended up dip and along strike from previously intersected sulphide breccia mineralisation, providing confidence to continue systematic drilling for further extensions. The Monza prospect remains open along strike and down plunge to the north-northwest, suggesting significant exploration upside. Prior to this program, Monza had limited historical drilling, indicating considerable remaining exploration potential across the Central Zone mineralised corridor.

Phase 2 Drilling at Dam Deposit Extends High-Grade Gold-Copper Core Down Dip

Assay results from six Phase 2 holes at the Dam Gold-Copper deposit confirm ongoing extension of the higher-grade gold-copper core along strike and down dip. Hole TDRCD005 returned 114 metres grading 1.19 g/t gold equivalent from 144 metres depth, extending the core approximately 50 metres along strike. Hole TDRCD006 delivered 141 metres grading 0.88 g/t gold equivalent from 183 metres depth, extending the core about 100 metres down dip and demonstrating the vertical extent of mineralisation.

Hole TDRCD010 intersected 8 metres grading 1.56 g/t gold equivalent outside the current resource boundary, potentially indicating a new epithermal-style gold zone for future exploration. Additional Phase 2 holes at Dam remain pending assays, expected to be released progressively. The Southern Zone hosts defined mineral resources at Gidginbung and Dam, plus exploration targets at Mag H1, Woolshed, Fields, and Gidginbung South, all within a highly prospective arc transfer structure geologically analogous to the Cadia copper-gold complex.

Central Zone Geological Setting Comparable to Northparkes Copper-Gold Complex

The Central Zone covers a 17-kilometre mineralised corridor containing gold and copper resources at Estoril, Culingerai, and Mandamah deposits, alongside advanced prospects like Donnington and Monza and multiple mineralised targets along strike. These deposits are adjacent to the Rain Hill Monzodiorite stock, geologically analogous to the Northparkes copper-gold complex about 150 kilometres north. This analogy significantly influences exploration strategy, as Northparkes is a major operating copper-gold mine in New South Wales, serving as a model for potential ore deposit types.

Besides the main deposits and prospects, the Central Zone includes several porphyry complexes such as Showground, Punch, Harold Bell, Chicane, and Rain Hill, many with limited historical drilling. Sparse drilling in these areas suggests substantial unrecognized exploration upside within the 17-kilometre strike zone. LinQ’s strategic focus on systematic drilling and geophysical surveys in these underexplored zones reflects management’s confidence in the Central Zone’s exploration potential.

Induced Polarisation Survey Identifies New Target South of Gidginbung Resource

LinQ completed an Induced Polarisation (IP) geophysical survey revealing a compelling drill target approximately 1 kilometre south of the Gidginbung mineral resource in the Southern Zone. IP surveys detect sulphide minerals and chargeability variations linked to porphyry and epithermal mineralisation systems. This new target highlights LinQ’s use of advanced exploration techniques to systematically assess the Gilmore Project and prioritize drill sites for efficiency.

The IP results add to the expanding pipeline of targets across the Gilmore Project’s 40-kilometre prospective belt spanning Central and Southern Zones. This growing inventory provides multiple drill locations and exploration vectors for current and future programs. Employing geophysical data to refine drill targets exemplifies a methodical approach to managing exploration risk and capital allocation as LinQ advances its 30,000-metre drilling campaign.

Extensive Drilling and Pending Assays Set Stage for Ongoing News Flow

In the June 2026 quarter, LinQ completed 6,786 metres of drilling across multiple zones and prospects within the Gilmore Project. At Monza, seven holes (MZACD004-010) were drilled, with assay results for three holes (MZACD003, 004, and 005) released post-quarter. Five additional Monza holes await assay results expected in the September 2026 quarter, offering potential news catalysts.

Alongside Monza, six holes at the Dam deposit yielded results, with further Phase 2 holes pending assays. This substantial pipeline of upcoming results positions LinQ for continued market updates throughout the September quarter and beyond. The company ended the period with approximately $16.2 million in cash, supporting ongoing multi-rig drilling and sustained exploration momentum. The combination of strong cash reserves, numerous pending results, and active drill locations primes LinQ for ongoing exploration narratives and market engagement.

$16.2 Million Cash Position Underpins 30,000-Metre Drilling Campaign

LinQ Minerals reported a robust cash balance of about $16.2 million at the end of the reporting period, providing a solid financial base to advance its extensive 30,000-metre drill program across the Gilmore Gold-Copper Project. This significant drilling commitment demonstrates management’s confidence in the project’s geological potential and the prospect of economic discoveries through systematic exploration.

The cash reserves are sufficient to fund exploration at current expenditure levels for an extended duration, minimizing immediate refinancing risks. Executive Chair Clive Donner stated LinQ is "well-positioned for continued news flow whilst we continue to define and explore targets across our highly prospective 40km belt." The strong cash position enables uninterrupted multi-rig drilling and flexible responses to exploration results as they emerge. Investors will likely monitor the effective deployment of this capital and whether forthcoming results justify ongoing investment in the Gilmore Project.

Copper Equivalent Calculations Based on Assumed Commodity Prices

LinQ’s copper equivalent (CuEq) values incorporate assumed commodity prices and recovery rates, important for investors evaluating drilling results. The company uses assumed prices of US$2,500 per ounce for gold and US$10,000 per tonne for copper, reflecting market conditions at announcement time. Preliminary recoveries from Gilmore porphyry sulphide resources are estimated between 80-94% for copper and 50-73% for gold, indicating expected metallurgical processing efficiencies.

The CuEq formula combines copper and gold assay values into a single metric to compare intersections with varying gold and copper proportions. LinQ confirms all elements in the metal equivalent calculation have reasonable potential for recovery and sale, complying with JORC Code requirements for public mineral exploration reporting in Australia. Investors should note these CuEq calculations are based on assumptions and serve as a comparative tool rather than economic forecasts.

Extensive Pipeline of Prospects Within 40-Kilometre Gilmore Belt

The Gilmore Gold-Copper Project covers a 40-kilometre prospective belt with multiple defined mineral resources, advanced prospects, and early-stage targets across Central and Southern Zones. The Central Zone alone spans 17 kilometres with defined resources at three deposits and advanced prospects with limited drilling, indicating significant exploration potential. The Southern Zone features over 6 kilometres of mineralised corridor with resources and several under-explored targets identified via geological and geophysical methods.

This broad pipeline offers LinQ numerous drill sites and exploration directions for current and future programs. The recent Induced Polarisation survey identifying a new target south of Gidginbung exemplifies a systematic approach to prioritizing drill targets and optimizing exploration capital. The mix of resource expansion opportunities and early-stage prospects diversifies exploration risk and provides management flexibility in program sequencing and funding allocation.

Exploration Risks and Operational Factors to Consider

While LinQ’s exploration results are promising, investors should recognize inherent risks in mineral exploration. Converting drilling intercepts into economically viable resources requires further drilling to define geometry and continuity, metallurgical testing, engineering studies, and favorable commodity prices and capital costs. Positive drilling results do not guarantee mineable resources, with substantial work needed to advance prospects toward resource estimation or scoping studies.

The company’s success depends on maintaining tenement tenure, securing capital, retaining skilled personnel, and complying with New South Wales regulatory requirements. Commodity price volatility poses risk, as prolonged low gold or copper prices could affect exploration funding decisions. Operational challenges such as contractor availability and assay laboratory capacity have caused delays in the past. These factors represent typical exploration industry risks specific to LinQ’s operations.