Parabellum Resources Initiates Mineral Resource Estimate for Redlands Nickel-Cobalt Project, Results Expected Q3 2026

Redlands Project Mineral Resource Estimate Scheduled for September Quarter Release

Following successful Phase 3 exploration drilling, Parabellum Resources has engaged a reputable mining consultancy to deliver an initial Mineral Resource Estimate for the Redlands Project. The Phase 3 program included 26 drill holes confirming the shallow depth and continuity of nickel-cobalt mineralisation identified in earlier phases. Results of the Mineral Resource Estimate were pending at the end of June 2026 and are expected to be published during the September quarter.

This resource estimation marks a critical milestone in the company's exploration program, signifying a transition from drilling confirmation to formal resource definition. This advancement typically precedes detailed feasibility studies and represents substantial progress in developing the mineral asset. The forthcoming Mineral Resource Estimate will offer investors quantified data on the scale and grade of mineralisation at Redlands.

Phase 3 Drilling Validates Shallow, Continuous Nickel-Cobalt Mineralisation

Phase 3 drilling at Redlands yielded encouraging results supporting progression to resource estimation. Significant intersections with nickel grades above 0.75% include 0.92% nickel over 7 metres from 3 metres depth in hole RAC125, 0.82% nickel over 24 metres from 1 metre depth in hole RAC130, and 0.90% nickel over 2 metres from 22 metres depth in hole RRC142. These shallow depths imply reduced future mining costs and accessible mineralisation within economic parameters.

Cobalt mineralisation consistently accompanied nickel intersections, with cobalt concentrations ranging from 205 to 1,100 parts per million. Hole RAC136 recorded elevated cobalt at 1,100 ppm, highlighting cobalt’s potential as a secondary economic product. The 26-hole program demonstrated mineralisation continuity, with most intersections exceeding 0.50% nickel, indicating consistent grade distribution across the prospect. This combination of shallow depth, consistent grades, and continuity underpins the Mineral Resource Estimate and suggests attributes favorable for future development.

NSW Portfolio Encompasses Three Tenements in Tottenham-Girilambone District

As of 30 June 2026, Parabellum Resources held three active mining tenements in New South Wales, all within the Tottenham-Girilambone district. The company owns 100% of EL 8847 (Lunns Dam), EL 8852 (Whitbarrow), and EL 9188 (Redlands), collectively covering approximately 204 square kilometres. These projects expose the company to nickel, cobalt, copper, and gold commodities, providing geographic and commodity diversification.

The Tottenham-Girilambone district is known for its geological potential for base and precious metals. Parabellum’s holdings enable systematic evaluation of multiple prospects. Redlands and Whitbarrow are primary focus areas, with Lunns Dam offering additional exploration upside. The company’s decision to retain these three tenements while relinquishing the Recovery Project (EL 9189) reflects strategic prioritisation of higher-potential assets and disciplined capital allocation.

Recovery Project Relinquishment Reflects Strategic Portfolio Optimisation

During the June 2026 quarter, Parabellum Resources assessed exploration results and prospectivity of the Recovery Project (EL 9189). Following this review, the company relinquished the tenement due to its lower potential. This decision aligns with the company’s systematic portfolio review and management’s focus on retaining higher-priority assets capable of delivering shareholder value.

Relinquishing lower-priority tenements is common among exploration companies aiming to optimise capital and management focus. By concentrating on Redlands, Whitbarrow, and Lunns Dam, Parabellum can allocate resources more effectively toward projects with greater near-term potential. The Recovery Project relinquishment is unlikely to materially affect the company’s strategic direction, which remains centred on promising nickel and cobalt mineralisation at Redlands.

Strong Cash Position and Cost Discipline Support Ongoing Exploration

Parabellum Resources reported AUD $840,000 in cash as of 30 June 2026, providing a solid financial base to support exploration and corporate activities. The board maintains strict cost controls, with minimal recurring general and administrative expenses, appropriate for an advanced-stage exploration company. Exploration expenditure during the quarter was AUD $7,000, primarily for geological consulting related to future programs.

The company’s lean cost structure allows the cash balance to sustain operations while advancing strategic initiatives, including completing the Mineral Resource Estimate and evaluating new opportunities. No development or production activities occurred during the quarter, confirming the focus remains on exploration. While current expenditure is modest, future resource definition work or feasibility studies may increase costs beyond the AUD $7,000 quarterly figure.

Business Development Focuses on Advanced Exploration Assets and Strategic Acquisitions

Beyond existing NSW projects, Parabellum Resources is actively evaluating new corporate and asset acquisitions aligned with its mineral exploration strategy. Potential opportunities include direct project acquisitions or joint ventures, with emphasis on advanced exploration assets. This approach indicates management is seeking complementary opportunities to accelerate shareholder value creation.

The company’s interest in precious and base metal acquisitions suggests a strategic expansion beyond its current nickel-cobalt-copper-gold portfolio, while remaining within similar commodity and geographic parameters. Organic exploration results complement, rather than replace, strategic acquisitions. Investors should monitor announcements related to joint ventures, letters of intent, or acquisition proposals, as these could significantly impact the company’s asset base and strategic direction.

ASX Compliance and Competent Person Statements Ensure Technical Reporting Integrity

Parabellum Resources confirmed that all referenced previous exploration results, including technical data from prior ASX updates, include appropriate JORC Table 1 disclosures. The company is unaware of any new information that materially affects prior announcements, with all material assumptions and technical parameters remaining unchanged. This confirmation assures investors of the reliability and continuity of technical information across exploration programs.

The presentation of Competent Persons’ findings remains consistent with original reports, complying with ASX Listing Rules and disclosure obligations. These procedural confirmations uphold the integrity of technical disclosures and demonstrate the company’s commitment to governance standards expected by investors and regulators in the mineral exploration sector.

Forward-Looking Statements and Risks Associated with Exploration-Stage Investment

Parabellum Resources issued standard forward-looking disclaimers, noting that statements about future events involve risks, uncertainties, and factors that could cause actual results to differ materially. The company provides no guarantee that anticipated outcomes will be achieved, which is particularly relevant given the exploration-stage nature of its operations where technical and commercial results remain uncertain.

Investors should recognize inherent risks in mineral exploration, including the possibility that drilling results may not be replicated or upgraded, Mineral Resource Estimates may not support economic development, and commodity price fluctuations could render projects uneconomic. While exploration results are encouraging, they do not guarantee that Redlands or other assets will be developed into producing mines. The September quarter Mineral Resource Estimate will clarify project scale and economics, but investors should maintain caution when evaluating early-stage exploration results.

Investor Outlook and Upcoming Milestones to Watch

Investors in Parabellum Resources should monitor key upcoming developments that could influence company strategy and value. The Mineral Resource Estimate release for Redlands in the September 2026 quarter is the primary near-term catalyst, providing detailed data on mineralisation scale and grade. A successful resource estimate could bolster confidence in the project’s development potential.

Following the resource estimate, investors should watch for updates on new acquisitions, joint ventures, or significant exploration results from Whitbarrow and Lunns Dam. Commodity price improvements, especially for nickel and cobalt, may enhance the economic attractiveness of existing assets. The company’s ability to secure accretive acquisitions at favourable valuations could accelerate shareholder value beyond organic exploration progress. As a listed explorer with modest cash and no revenue, Parabellum’s valuation depends on exploration success and strategic capital allocation.