Ore Resources Advances Lithium and Gold Exploration at Coolgardie Amid Robust Cash Reserves

Kangaroo Hills Lithium Project Extends Mineralisation at Big Red and Potoroo Pegmatites

In the June 2026 quarter, Ore Resources completed a major reverse circulation drilling program at the Kangaroo Hills Lithium Project, drilling 20 holes for a total of 3,300 metres. This campaign combined step-out and infill drilling to test lateral and depth continuity of the Big Red and Potoroo pegmatite systems. Results confirmed successful extensions at both systems, underscoring the project's scale and growth potential.

Infill drilling at Big Red verified consistent grades and widths over a 500-metre northeast to southwest strike. The company noted further work is needed to delineate higher-grade zones and identify thickening mineralisation to the north. The Potoroo pegmatite remains open with a north-south strike orientation, indicating additional growth potential. These outcomes confirm lithium mineralisation continuity across Kangaroo Hills and support accelerated development efforts.

Diamond Drilling Targets Metallurgical and Geotechnical Samples for Lithium Project Advancement

Ore Resources initiated diamond drilling at Kangaroo Hills during the quarter to collect metallurgical and geotechnical samples supporting key technical studies. These samples will aid in evaluating ore sorting and assessing development feasibility.

The company is advancing near-term commercialisation options for Kangaroo Hills, considering export direct shipped ore (DSO) and domestic ore sales. CEO Nick Rathjen highlighted the project as a compelling near-term opportunity with strategic flexibility and no existing offtake commitments. A further 3,000-metre reverse circulation drilling program is planned for July 2026 to follow up Big Red and Potoroo and conduct first-pass drilling at the adjacent Miriam Lithium Project.

Forrest Gold Prospect Extends to 1 Kilometre Strike and 250 Metres Depth After Phase 4 Drilling

Phase 4 reverse circulation drilling at Forrest delivered multiple new extensions in both fresh rock and shallow oxide gold mineralisation. Notably, drill hole FGRC055 intersected 25 metres at 2.82 g/t gold from 170 metres, including 5 metres at 11.22 g/t from 186 metres. This represents a 90-metre down-dip extension to earlier drilling, significantly expanding the gold system's vertical extent.

Diamond drilling confirmed gold mineralisation hosted within strongly sheared and altered mafic units linked to the regional Miriam Shear Zone. The system now extends approximately 1 kilometre north-south and 250 metres vertically, remaining open along strike and at depth for further expansion.

Regional Exploration Uncovers Ten New Gold Anomalies, Expands Miriam Project

Regional soil sampling expanded the Miriam Gold Project by identifying ten refined gold anomalies exceeding 50 ppb gold within a 3.2-kilometre corridor showing anomalous gold above 20 ppb. These anomalies are high-priority drill targets. Sub Audio Magnetic and ground gravity surveys alongside diamond drilling at Forrest revealed mineralisation-related structures beyond current drilling, indicating strong growth potential.

Ore Resources is conducting a 15,000-metre regional aircore drilling program, initially targeting the Burbanks East Gold Project, followed by prospects at Miriam including Jungle, Forrest North, Burbanks Monarch, Goroke, and Canyon. Geophysical surveys identified four additional structures at Forrest for future drilling, demonstrating a systematic approach to gold exploration across Coolgardie.

Coolgardie Tenure Expansion Increases Landholdings Beyond 80 Square Kilometres

During the quarter, Ore Resources acquired four contiguous licences north of its existing Coolgardie Gold and Lithium Projects, expanding total landholdings to over 80 square kilometres. The new tenure covers the Kunanalling Shear Zone and includes the Avoca Prospect, a 300-metre mineralised trend in the southern area. This expansion strengthens the company's strategic position and adds exploration targets.

Additionally, Ore Resources secured a binding option to acquire six tenements adjacent to the Miriam project, including the Devils Playground prospect, a 300-metre mineralised trend on the eastern flank of the 6.2-kilometre Miriam Shear Zone, and historical prospects at Blue Bird, Tartan, Burbanks Welcome, and Aurifer with no modern exploration. These acquisitions enhance the company’s ability to explore shear-hosted gold targets and grow its pipeline in Coolgardie.

Kal East Gold Portfolio Bolstered by Randalls Acquisition and Mount Monger Tenure Addition

Ore Resources completed the acquisition of the Randalls Gold Project during the quarter, exercising option agreements and settling the transaction. The company also added Mount Monger tenure, further consolidating its Eastern Goldfields holdings. These moves align with the strategy to expand landholdings and exploration opportunities in the Kal East district.

The Randalls and Mount Monger acquisitions extend Ore Resources’ presence in a historically rich gold mining region. No exploration or resource data were disclosed for these projects. These additions support the company’s broader goal of consolidating quality exploration ground across Coolgardie and Eastern Goldfields.

Robust Financial Position with A$6.8 Million Cash and Zero Debt Enables Accelerated Exploration

As of 30 June 2026, Ore Resources reported a cash balance of A$6.8 million and zero debt, providing strong financial capacity to fund exploration across Coolgardie and Eastern Goldfields throughout 2026. This financial strength offers strategic flexibility to advance drilling and development without immediate capital market reliance.

The company emphasized it is well-funded to execute all planned 2026 exploration programs at Coolgardie Gold and Lithium Projects. This financial foundation facilitated expanded drilling, tenure acquisitions, and commencement of diamond drilling supporting technical and metallurgical studies for lithium development. The cash position underpins the accelerated exploration strategy for the remainder of 2026.

Management Enhanced by Appointment of Environmental and Approvals Manager

Ore Resources appointed Mr Alan Tandy as Environmental & Approvals Manager during the quarter to expedite permitting for Coolgardie Lithium and Gold Projects. This addition supports advancing Kangaroo Hills Lithium Project development and regulatory pathways for mining or extraction operations. The appointment underscores management’s commitment to transitioning projects from exploration to development and commercialisation.

The timing aligns with advancing technical and commercial studies for Kangaroo Hills and engagement with potential partners on development options. Dedicated environmental and permitting expertise is vital for mining operations in Australia, marking a key step toward project readiness.

Favourable Lithium Market and Industry Activity Propel Coolgardie Project Progress

CEO Nick Rathjen described the June 2026 quarter as transformational, driven by improving lithium market conditions and heightened industry activity in Coolgardie. The company cited stronger lithium fundamentals as a key factor in accelerating exploration and development of Coolgardie Lithium Projects.

Increased regional industry engagement and commercial interest create a compelling opportunity to advance Kangaroo Hills toward commercialisation. The company’s strategy to maintain flexibility and pursue multiple development pathways, including DSO and domestic sales, reflects a pragmatic approach to capturing value amid evolving market and commercial conditions. This aligns exploration and development with rising demand for battery-grade lithium resources.