Sinclair Gold Expands Gold Mineralisation Beyond 915,000oz Resource at Mt Henry Project, Western Australia

Strategic Location and Resource Overview of Mt Henry Gold Project in Western Australia's Goldfields

Sinclair Gold's Mt Henry Gold Project is strategically located about 20 kilometres south of Norseman and 220 kilometres south of Kalgoorlie within Western Australia's prolific Goldfields region. The project holds a JORC (2012) Mineral Resource of 24 million tonnes at 1.2 grams per tonne gold, totaling 915,000 ounces across three deposits: Selene, Mt Henry, and North Scotia. The geological setting includes a highly prospective 16-kilometre mineralised corridor, with all three deposits remaining open at depth and along strike, offering significant exploration potential.

The existing Mineral Resource is predominantly constrained to the upper 100 metres due to limited historical deep drilling. This limitation presents substantial potential for resource growth, especially given multiple priority regional exploration targets and large sparsely drilled sections along the 16-kilometre corridor. The project's location in a proven gold-bearing district, combined with its favourable structural and geological features, makes it central to Sinclair Gold's near-term development plans.

Selene Deposit Step-Out Drilling Extends Mineralisation Down-Dip to 600 Metres

The Selene deposit, currently hosting a 651,000-ounce Mineral Resource (approximately 71% of the project’s total), features gold mineralisation within a shallow west-dipping Banded Iron Formation (BIF) horizon characterised by broad, consistent mineralised intersections. Recent drilling continues to intersect extensive, continuous gold mineralisation beyond the existing Resource, extending the interpreted Selene system and underscoring its growth potential. The shallow geometry and broad mineralised zones support Sinclair Gold’s view of Selene as a large-scale bulk-tonnage gold system.

Step-out drilling has pushed the down-dip extent of gold mineralisation at Selene to about 600 metres, a 125-metre extension beyond previous limits. Recent results include 33.2 metres at 1.6 g/t gold from 230.7 metres (including 22.3 metres at 2.0 g/t), 24.1 metres at 0.9 g/t from 204.0 metres (including 15.1 metres at 1.0 g/t), and 11.7 metres at 1.1 g/t from 267.0 metres. These complement earlier intersections such as 28.6 metres at 2.0 g/t, 26.9 metres at 1.6 g/t, and 39.7 metres at 0.9 g/t.

Mt Henry Deposit Central Zone Expanded by 150% to Approximately 250 Metres

Drilling at the Mt Henry deposit has extended down-dip gold mineralisation in multiple areas, with the central zone increasing by 150% to roughly 250 metres. Recent drill results intersect multiple mineralised BIF horizons beyond the current Resource, validating the company’s geological model and targeting approach. Highlights include 17.0 metres at 1.5 g/t from 180 metres, 7.0 metres at 2.8 g/t from 285.9 metres, and 10.1 metres at 0.9 g/t from 302.9 metres. Additional significant intersections are 8.0 metres at 1.8 g/t from 119.0 metres and 23.5 metres at 1.2 g/t from 133.5 metres.

Further results include 16.9 metres at 1.1 g/t from 217.7 metres, including 6.4 metres at 2.0 g/t from 228.2 metres. These multiple mineralised BIF horizon intersections beyond the current Resource highlight substantial extensional potential at Mt Henry. Step-out drilling at both Mt Henry and Selene continues to confirm the broader Mt Henry Gold System’s growth potential, with mineralisation remaining open at depth and along strike.

Advancing 50,000-Metre Resource Growth Drilling Program with Four Diamond Rigs

Sinclair Gold launched its 50,000-metre drilling program in early March 2026 as part of a comprehensive strategy to grow resources. Four diamond rigs are currently active, with assays pending for 17 additional holes. The expansion to four rigs followed encouraging initial results announced in May 2026, confirming gold mineralisation beyond existing Resources at Selene and Mt Henry deposits. These results validated the continuity of mineralisation and supported ramping up drilling intensity.

Chief Executive Jeff Sansom highlighted that in just four months, the company has significantly expanded mineralisation at Selene and Mt Henry, demonstrating the strength of its geological model and targeting strategy. Mineralisation remains open at depth and along strike, with numerous new targets identified within the 16-kilometre corridor. The steady flow of assay results will feed into the planned Resource update for the December 2026 quarter.

December 2026 Mineral Resource Update Supported by $30 Million Capital Raise

Sinclair Gold is on track to deliver a Mineral Resource update in the December 2026 quarter, incorporating results from the ongoing drilling campaign. This update is a key milestone in the company’s strategy to define and expand the Mt Henry Gold Project’s resource base. The recent $30 million capital raise underpins the 50,000-metre drilling program and related studies, reflecting strong investor confidence in the project’s growth prospects and execution plan.

The integration of drilling results into the December update will provide critical insights on mineralisation extensions at both major deposits. Sinclair Gold’s interpretation that the current 915,000-ounce Mineral Resource represents only a portion of the broader Mt Henry Gold System, combined with evidence of open mineralisation at depth and along strike, suggests the update could reveal significant resource growth. Investors will closely monitor this milestone as the project advances toward potential economic evaluation.

Deep Mineralisation Potential Beyond Upper 100-Metre Resource Constraint

The majority of the current 915,000-ounce Mineral Resource is defined within the upper 100 metres, a limitation stemming from sparse historical deep drilling before Sinclair Gold’s project acquisition. This presents a major exploration opportunity, as new drilling confirms gold mineralisation well below this level at both key deposits. Continuous mineralisation at depths far exceeding the current Resource base indicates strong potential for substantial resource expansion through systematic deeper testing.

Gold mineralisation at Selene now extends down-dip to around 600 metres, while Mt Henry’s central zone reaches approximately 250 metres, demonstrating mineralisation well beyond existing Resource boundaries. This pattern suggests the current Resource may represent only a fraction of the total mineralisation within the Mt Henry Gold System. Ongoing step-out and deep drilling will refine geological interpretations and potentially define resources at significantly greater depths.

Selene Deposit Characterised as Large-Scale Bulk-Tonnage Gold System with Broad Mineralised Zones

Geological features of the Selene deposit support Sinclair Gold’s interpretation of a large-scale bulk-tonnage gold system. Gold is hosted within a shallow west-dipping BIF horizon featuring broad mineralised intersections and consistent grades. Sulphide-rich zones within the BIF contain the gold mineralisation, with recent drill holes intersecting this horizon beyond the current Resource. Broad mineralised intervals ranging from 11.7 to 39.7 metres align with bulk-tonnage deposit characteristics rather than narrow high-grade veins.

The shallow dip and broad mineralised zones at Selene offer favourable mining geometries for potential future development. Initial step-out drilling in May 2026 extended mineralisation 50 metres down-dip beyond the Resource, forming the basis for the current aggressive drilling phase. Successive down-dip extensions now reaching approximately 600 metres suggest a larger deposit than previously conceptualised, with implications for mining methods and project development.

Multiple Mineralised BIF Horizons at Mt Henry Indicate Potential Stacked Ore System

Recent Mt Henry drilling has intersected multiple mineralised BIF horizons beyond the current Resource, indicating a stacked or layered mineralisation system that could substantially increase deposit tonnage. Intersections at depths ranging from 119.0 to 302.9 metres suggest multiple distinct mineralisation events or horizons within the deposit. This pattern resembles some of Western Australia’s most significant gold systems, where stacked mineralised layers boost ore tonnage within a mining footprint.

Multiple mineralised horizons could allow future mining operations to extract ore from several layers within the same area, enhancing operational efficiency and resource utilisation. The geological evidence of stacked mineralisation at Mt Henry, combined with broad intersections at Selene, indicates the Mt Henry Gold System may support a substantial mining operation. Continued drilling to define lateral and vertical extents will refine geological understanding and may reveal a resource significantly larger than the current 915,000-ounce estimate.

Geological Model Validated by Consistent Step-Out Drilling Success

Sinclair Gold’s Chief Executive emphasized that ongoing drilling results validate the company’s geological model and targeting strategy. Systematic step-out drilling at Selene and Mt Henry confirms the company’s interpretations of gold mineralisation controls and deposit structural geometry. The ability to target extensions of known mineralisation successfully, rather than hitting barren zones, demonstrates the robustness of the geological framework guiding drilling.

Success in the first four months of 2026 supported expanding operations from initial drilling to four diamond rigs. This expansion reflects management’s confidence in the project’s resource growth potential. Assays pending from 17 additional holes will provide further data to test and refine the geological model, with forthcoming results expected to either strengthen or adjust current interpretations.

Open Mineralisation at Depth and Along Strike Across 16-Kilometre Corridor

Sinclair Gold reports that mineralisation remains open at depth and along strike at both Selene and Mt Henry deposits. Drilling has encountered mineralisation at current drilling limits, indicating the edges of the mineralised systems have not yet been reached. The 16-kilometre mineralised corridor hosts multiple deposits and regional prospects, with extensive sparsely drilled areas offering numerous opportunities for mineralisation extension and discovery. This setting provides significant exploration upside beyond the current Resource.

The Mt Henry Gold Project’s location within the broader Norseman region—a proven gold-producing district—further supports ongoing exploration potential. The company identifies numerous new targets within the corridor, establishing a multi-year exploration pipeline with multiple value-adding opportunities. The openness of mineralisation at defined deposits, combined with untested prospective ground, creates a strong resource growth outlook, a positive factor for investors assessing the project’s long-term development potential.