Ore Resources Initiates 3,000m RC Drilling at Kangaroo Hills and Miriam Lithium Projects in Western Australia

Building on May 2026 Exploration Success with Current RC Drilling at Big Red and Potoroo

The current 3,000-metre RC drilling initiative by Ore Resources directly follows encouraging May 2026 results at Kangaroo Hills Lithium Project. That phase delivered significant lithium intersections, guiding the current drilling approach. At Big Red pegmatite, highlights included 34 metres at 1.11% Li2O from 77 metres depth, featuring a higher-grade 14-metre zone at 1.63% Li2O from 96 metres. Additional infill drilling at Big Red returned 18 metres at 1.03% Li2O from 103 metres, including 10 metres at 1.49% Li2O, and 28 metres at 0.89% Li2O from 68 metres with a 12-metre section at 1.01% Li2O.

At Potoroo pegmatite, infill drilling results included 11 metres at 1.05% Li2O from 111 metres and 5 metres at 1.09% Li2O from 158 metres, along with an 8-metre extension grading 1.08% Li2O from 130 metres. Big Red extension drilling returned 12 metres at 1.05% Li2O from 147 metres. These findings shaped the current drilling focus on northeast extensions at Big Red, where thicker, higher-grade zones may remain untested. Follow-up drilling at Potoroo aims to evaluate mineralisation continuity along its north-south strike.

First-Pass Drilling at Miriam Lithium Project Targets Extensive Pegmatite System

A key part of the current RC programme is first-pass drilling at the Miriam Lithium Project, immediately north of Kangaroo Hills. This represents the first targeted lithium drilling at Miriam, with prior work limited to early-stage target generation. Early investigations identified multiple large-scale lithium targets supported by strong rock-chip and soil sampling, with soil assays up to 1.85% Li2O. These include a primary lithium trend spanning 1.6 kilometres and a secondary trend extending 600 metres.

An August 2024 magnetic geophysics review identified thirteen distinct outcropping pegmatites over roughly 6.0 by 1.5 kilometres at Miriam. Ore Resources views Miriam as a compelling greenfields exploration opportunity with significant discovery potential. The current RC drilling will test several priority targets derived from previous geophysical and geochemical studies. This greenfields approach contrasts with the more advanced Kangaroo Hills exploration, where economic-scale lithium mineralisation has been defined, diversifying the Coolgardie Projects exploration portfolio.

Diamond Drilling and Metallurgical Testing Near Completion at Kangaroo Hills

Alongside the RC drilling, Ore Resources’ lithium diamond drilling programme at Kangaroo Hills is nearing completion. Diamond core samples are being progressively submitted for geochemical analysis, with results expected from mid-August 2026. These samples will support the next phase of metallurgical testwork, including heavy liquid separation (HLS), dense media separation (DMS), flotation processing, and comminution testing. The diamond drilling also facilitates detailed evaluation of potential ore-sorting applications at Big Red pegmatite.

Integrating metallurgical data with exploration results aims to advance technical studies toward a comprehensive assessment of Kangaroo Hills assets. Ore-sorting technology could enhance processing efficiency, and Ore Resources’ evaluation of this method reflects a thorough approach to understanding both resource potential and processing pathways. Combined diamond drilling and metallurgical results will inform the company’s strategic planning and project evaluation across Coolgardie Lithium Projects.

Strong Financial Position Enables Accelerated Exploration Programmes

Ore Resources’ solid financial footing supports its exploration plans across Coolgardie Lithium Projects and Kal East gold and lithium assets without immediate capital constraints. As of 31 March 2026, the company held A$9.6 million in cash and carried zero debt. This financial flexibility is critical amid increased exploration across multiple projects, including advanced lithium pegmatite prospects and greenfields targets. The funding allows continuation of the 3,000-metre RC drilling, ongoing diamond drilling, metallurgical testing, and gold exploration.

Maintaining a debt-free status contrasts with peers who may have debt during capital-intensive exploration phases. Managing Director and CEO Nick Rathjen stated, "Ore remains well positioned to continue unlocking value across its broader Coolgardie Projects portfolio." This financial strength underpins expectations for accelerated exploration and a robust news flow pipeline in coming months. Exploration activity at Coolgardie Lithium Projects continues to ramp up, supported by current drilling and parallel diamond drilling and metallurgical studies.

Regional Overview and Diverse Asset Portfolio at Coolgardie and Kal East

Ore Resources’ Coolgardie Lithium Projects are situated in Western Australia's Goldfields, a well-established mining jurisdiction with strong infrastructure and service networks. Kangaroo Hills and Miriam Lithium Projects are part of this broader Coolgardie portfolio. Besides lithium-focused exploration, the company also runs gold exploration programmes within these tenements, diversifying commodity exposure. The Kal East gold and lithium project adds further breadth to the exploration and development pipeline.

The geographic concentration of lithium assets in Coolgardie, combined with early-stage gold interests, reflects a focused exploration strategy. The proximity of Kangaroo Hills and Miriam allows operational efficiencies in drilling and field support. Incorporating both lithium and gold exploration within Coolgardie and Kal East demonstrates a pragmatic approach to managing commodity exposure during exploration. Lithium exploration currently receives significant capital allocation through RC and diamond drilling programmes.

Assay Results Timeline and Upcoming Milestones Through August 2026

Ore Resources has provided clear timing guidance for assay results from ongoing programmes. RC drilling assay results are expected in late August 2026, offering a key milestone for investors. Diamond drilling samples from Kangaroo Hills are being submitted progressively, with results anticipated from mid-August 2026. These results will support technical studies, metallurgical testwork, and ore-sorting evaluation at Big Red.

The staggered release—with diamond drilling results expected earlier in August and RC results later—reflects phased sample processing and laboratory turnaround times. This sequencing is typical in exploration and indicates effective management of analytical workflows. Investors should monitor these milestones closely as results will materially inform project progress and technical understanding rather than routine updates.

Exploration Upside from Expanded Pegmatite Targets and New Discoveries

Expanding drilling from Kangaroo Hills to include first-pass exploration at Miriam marks a significant shift in Ore Resources’ Coolgardie exploration strategy. Kangaroo Hills drilling has focused on infill and extensions of known lithium pegmatites, while Miriam targets early-stage concepts identified through geophysical and geochemical surveys. The discovery of thirteen outcropping pegmatites over a 6.0 by 1.5-kilometre area at Miriam, alongside soil assays up to 1.85% Li2O, indicates multiple promising targets for discovery drilling.

The contrast between Kangaroo Hills’ defined lithium mineralisation and Miriam’s untested pegmatites reflects differing exploration risk and reward profiles. Early-stage greenfields drilling at Miriam carries higher uncertainty but offers potential for significant discovery announcements that can attract investor interest. By combining advanced-stage drilling at Kangaroo Hills with greenfields drilling at Miriam within one RC programme, Ore Resources balances near-term extension potential with longer-term discovery opportunities.

Lithium Market Dynamics and Exploration Growth in Western Australia

This 3,000-metre RC drilling programme at Kangaroo Hills and Miriam aligns with strong global lithium demand growth driven by electric vehicle batteries and energy storage. Western Australia is a key lithium production region with established hard-rock extraction and processing infrastructure. The Goldfields region, home to Ore Resources’ projects, is a focal point for hard-rock lithium exploration and development, supporting commercial viability of discoveries at Kangaroo Hills and Miriam.

Ore Resources’ accelerated exploration reflects confidence in regional lithium prospects and favorable market conditions for lithium capital allocation. Established lithium producers and processors in the Goldfields provide supportive infrastructure for potential project development. This regional context is critical for assessing exploration upside and the pathway from discovery to development.

Technical Innovation with Metallurgical and Ore-Sorting Evaluations

Ore Resources integrates metallurgical testing and ore-sorting evaluation into its Kangaroo Hills programme, setting it apart technically. Many explorers delay metallurgical assessments, which can postpone understanding processing feasibility. Concurrent diamond drilling, metallurgical testwork including HLS, DMS, flotation, and ore-sorting evaluation demonstrates a comprehensive approach to defining resource and processing potential during exploration.

Ore-sorting technology is increasingly important in lithium pegmatite processing by reducing ore volumes sent for downstream processing, enhancing efficiency, and lowering environmental impact. The company’s focus on "detailed assessment of potential ore-sorting applications at Big Red" highlights this as a strategic processing efficiency. Combined with resource drilling, these technical studies aim to provide a fuller picture of project fundamentals beyond exploration results alone.