Parabellum Resources Finalizes Phase 3 Drilling at Miandetta Nickel-Cobalt Prospect in NSW Ahead of First Mineral Resource Estimate

Parabellum Resources’ NSW Exploration Portfolio and Strategic Direction

Operating a significant mineral exploration portfolio in New South Wales, Parabellum Resources Limited concentrates on nickel-cobalt prospects within the Tottenham-Girilambone district. Its NSW projects include Redlands/Whitbarrow, Recovery, and Lunns Dam, covering approximately 690 square kilometres of prospective tenure. This positioning situates PBL within a historically productive mining region with proven mineral discoveries.

Beyond its current NSW assets, Parabellum Resources is actively pursuing corporate and asset acquisition opportunities aligned with its mineral exploration strategy. These may involve direct project acquisitions, joint ventures, farm-in agreements, or equity stakes. The company maintains a disciplined focus on precious and base metals projects to optimize portfolio growth and capital deployment within the mining exploration sector.

Phase 3 Drilling Outcomes at Miandetta Confirm Mineralisation Continuity

In the December 2025 quarter, Parabellum completed Phase 3 air core and reverse circulation drilling at the Miandetta Nickel-Cobalt prospect, integral to the Redlands Project. The 26-hole program accumulated 968 metres drilled. Some air core holes were re-drilled using reverse circulation methods due to shallower-than-expected depths, demonstrating adaptive exploration management.

The drilling intersected the targeted ultramafic unit in most holes, revealing an oxide weathering profile up to 43 metres thick. Crucially, Phase 3 confirmed shallow, continuous higher-grade nickel-cobalt mineralisation initially identified in earlier phases. Several drill holes returned significant results exceeding 0.5% nickel, reinforcing mineralisation continuity and the prospect’s exploration potential.

Exploration Target and JORC Code Compliance

Parabellum Resources has established an Exploration Target for the Miandetta-Redlands prospect under the JORC Code (2012) guidelines. The target estimates a tonnage between 10 and 17 million tonnes with average grades of 0.8% to 0.9% nickel and 0.04% to 0.05% cobalt. This conceptual range is based on current drilling data and offers an indicative scale of mineralisation potential.

The company highlights that the Exploration Target remains conceptual due to insufficient exploration to date to support a Mineral Resource estimate. Consequently, there is uncertainty whether further work will lead to a formal Mineral Resource classification. This standard industry caution underscores that the Exploration Target is preliminary pending additional technical assessment.

Advancing to Mineral Resource Estimation with Expert Consultancy

In June 2026, Parabellum engaged a reputable consultancy to prepare the first Mineral Resource Estimate for the Miandetta-Redlands project, marking a significant progression in project maturity and risk reduction. Utilizing external specialists ensures technical rigor and independence, aligning with industry best practices and regulatory standards.

The Mineral Resource Estimate process will convert exploration data into a formally classified resource under JORC Code (2012), involving detailed geological modeling and statistical analysis. Completion will provide a robust foundation for future development decisions including further exploration, feasibility studies, or commercialization strategies.

Geology and Historical Exploration of the Miandetta Prospect

The Miandetta Nickel-Cobalt prospect was identified through a detailed review of prior exploration at the Redlands Project (EL9188). Historical work indicated strong potential for nickel, cobalt, and copper mineralisation within ultramafic rocks exhibiting lateritic or supergene enrichment.

These ultramafic units have a pronounced magnetic signature, facilitating targeted drilling and confirming subsurface continuity. The shallow oxide profile with higher-grade mineralisation offers favorable conditions for potential mining or processing, as oxide ores typically require less complex metallurgical treatment than sulfide ores. These geological factors have guided PBL’s systematic exploration and phased drilling approach.

Financial Highlights and Operational Overview for FY Ending 30 June 2026

For the year ended 30 June 2026, Parabellum Resources recorded a consolidated loss after tax of $431,624, a substantial improvement from the $1,488,811 loss reported in 2025. This reduction reflects enhanced operational efficiency and disciplined capital management typical of exploration-stage companies with limited mineral revenue.

The company’s core activity remained mineral exploration with no significant changes. The Board of Directors—Non-Executive Chairman Peter Ruse, Non-Executive Director Fabio Vergara (appointed 31 October 2024), and Non-Executive Director/Company Secretary Shaun Menezes—maintained full attendance at all board meetings during the period.

Experienced Board Supporting Strategic Growth

Parabellum’s Board combines extensive expertise in mining, finance, and corporate governance. Chairman Peter Ruse brings over 12 years in equity funds and wealth management specializing in mining sectors, holding current directorships including Gunsynd PLC (LON:GUN) since November 2019.

Director Fabio Vergara, a geologist with 15+ years’ experience across multiple continents, has held management roles in listed and private entities such as Eagle Mountain Mining Limited (ASX:EM2). Company Secretary and CFO Shaun Menezes offers over 20 years in accounting and finance, with senior roles in ASX and Singapore Exchange listed companies.

Corporate Headquarters and Administration Details

Parabellum Resources Limited’s registered and principal office is located at 52 Ord Street, West Perth, Western Australia 6005. Share registry services are provided by Automic Registry Services at Level 5, 191 St Georges Terrace, Perth, WA 6000, with investor inquiries directed to 1300 288 664. The company’s auditor is BDO Audit Pty Ltd, based at Level 9, Mia Yellagonga Tower 2, 5 Spring Street, Perth, WA 6000.

Listed on the ASX under ticker PBL, Parabellum Resources is incorporated in Australia with ACN 645 149 211. The Perth-based corporate office reflects the company’s operational focus on NSW exploration and aligns with industry norms for mining companies headquartered in Western Australia.

Exploration Strategy and Future Development Plans

Parabellum Resources employs a systematic, phased exploration approach to de-risk and advance the Miandetta-Redlands prospect. Completion of Phase 3 drilling and the upcoming Mineral Resource Estimate represent critical steps in the project’s development trajectory, increasing confidence in mineralisation and resource potential while managing expenditure and risk.

Future activities will support the Mineral Resource Estimate process and may include additional drilling to refine resource classification, geotechnical and metallurgical studies, and strategic evaluations for project development. Concurrently, the company continues to assess acquisition and business development opportunities to maintain strategic flexibility. Investors should monitor forthcoming exploration updates and the Mineral Resource Estimate release for key project developments.