September Quarter: Raiden Resources (ASX: RDN) Reports High-Grade Gold Hits and Advances Silver Drilling Permits

Highlights

• Raiden Resources has reported high-grade gold intercepts including 1.6m @ 7.69g/t Au at the Vuzel Project in Bulgaria.
• Induced Polarisation (IP) survey outlined multiple untested structural trends.
• Permitting underway to drill the Skarn Silver Anomaly.
• Raiden has retained 100% ownership of the Mt Sholl Project.
• As of 30 September 2025, cash balance stood at AUD 13.25 million.

Raiden Resources Limited (ASX:RDN) has released its quarterly activities report for the period ended 30 September 2025, outlining key exploration and corporate developments across its European and Australian projects. The company recorded high-grade gold intercepts and advanced permitting activities for new silver targets at the Vuzel Project in Bulgaria, while progressing its corporate strategy.

High-Grade Gold Intercepts at Vuzel Project

During the September quarter, the company received assay results from the Phase 2 drilling program at the Vuzel Gold Project. Notably, drill hole VZ2527 intersected 1.6m @ 7.69g/t Au from 58.7m within the interpreted epithermal feeder structure previously identified.

Notable key intersections included:

• VZ2525: 13.6m @ 0.58g/t Au from 19.4m, including 5.0m @ 1.30g/t Au from 21.0m
• VZ2526: 5.1m @ 0.76g/t Au from 20.9m
• VZ2527: 17.3m @ 0.93g/t Au from 43.0m, including 1.6m @ 7.69g/t Au from 58.7m
• VZ2528: 10.0m @ 1.03g/t Au from 15.5m and 11.0m @ 0.98g/t Au from 30.5m
• VZ2529: 5.6m @ 1.08g/t Au from 18.4m
• VZ2531: 3.6m @ 2.09g/t Au from 4.0m
• VZ2532: 4.2m @ 1.12g/t Au from 12.6m
• VZ2535: 7.4m @ 0.99g/t Au from 8.6m
• VZ2537: 9.3m @ 0.91g/t Au from 19.8m

Collectively, all but one hole drilled across maiden Phases 1 and 2 drilling programs across approximately 2km of the 4km strike has intersected near-surface gold mineralisation. The results are in line with the company’s view that Vuzel represents a potential and shallow gold system.

A total of approximately 3,450m of drilling was completed across Phases 1 and 2, while the 550m of drilling has been temporarily paused pending the completion of permitting for the Skarn Silver Anomaly.

IP Survey Defines New Targets

A 10.6km IP geophysical survey was completed to map potential high-grade epithermal structures and delineating the contacts of the sub horizontal conglomerate and sandstone units, which host the mineralisation.

Data source: Company update

Permitting Advances at Skarn Silver Anomaly

Raiden applied for access permits to drill test the Skarn Silver Anomaly, a 500m x 300m silver-in-soil footprint with a classic pathfinder element, previously identified at the Vuzel Exploration Permit. Historical results include 83m @ 43.8g/t Ag from rock-chip sampling and 9m @ 63.7g/t Ag from diamond hole - KKDD015.

Once the required permits are received, the company plans to resume drilling at the anomaly. The program will integrate the historical soil, channel and drill data with results from the recently completed IP survey to prioritise high-impact targets along the contact zone. The company views this anomaly as a complementary addition to its ongoing gold exploration at Vuzel.

Mt Sholl Project Update

In Australia, the company retained 100% ownership of the Mt Sholl Project following the withdrawal of First Quantum Minerals from its Memorandum of Understanding (MOU). The company received AUD 385,000 in cash reimbursements, along with full access to all exploration data and technical work completed by First Quantum, including 2,466m of drilling and multiple surveys.

Corporate and Cash Position

As part of its corporate strategy, the company continues to evaluate new acquisition opportunities and potential divestments across its asset portfolio. The company ended the quarter with a cash balance of AUD 13.25 million.

RDN shares closed 40% higher at AUD 0.007 per share on 30 October 2025.