ASX:AKA - Exploration Update - Irvine and Tandarra Drilling

Exploration Update - Irvine and Tandarra Drilling

ASX ANNOUNCEMENT 11 JULY 2025 EXPLORATION UPDATE: IRVINE AND TANDARRA DRILLING EXPLORATION HIGHLIGHTS IRVINE PROJECT: Assay results from resolution conﬁrm mineralisation down plunge of inferred mineral resource TANDARRA JV: Drilling results continue to demonstrate a consistent and highly prospective mineralised system IRVINE GOLD PROJECT (STAWELL ZONE)  Diamond drilling results at Resolution: demonstrate potential for continued resource growth  Target Drilling conﬁrms 220m down plunge to the south  Mineralisation remains open both along strike and down to the south  Gold intercepts reported include: ○ RD045: 1.18m @ 4.05g/t from 703.65m ○ RD045: 1.00m @ 1.45g/t from 759.82m ○ RD045: 1.00m @ 3.57g/t from 761.82m ○ RD045: 1.44m @ 2.12g/t from 967.56m TANDARRA GOLD PROJECT JV (BENDIGO ZONE)  Diamond drilling program at Lawry prospect: results from 8 holes conﬁrm mineralised trend with multiple gold intersections, both shallow and at depth  Results conﬁrm Lawry strike extension, which remains open both north and south, and to end of drill hole depth  Results conﬁrm the down plunge gold fertility at the Lawry prospect extending 430m on strike  Gold intercepts reported include: ○ TND019: 1.0m @ 2.4g/t from 137.8m ○ TND020: 2.3m @ 2.52g/t from 111.8m ○ TND025: 1.0m @ 5.0g/t from 154.6m ○ TND026: 1.7m @4.46g/t from 181.2m  Air Core drilling: further gold anomalism identiﬁed from a ﬁve-hole air core program south of the Four Eagles boundary with intercept reported: ○ TNA078 1.00m @ 2.16g/t from 79m A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 1 11 JULY 2025 Managing Director, James Gurry said: It is pleasing to see such encouraging results from our ﬂagship Irvine Gold Project in the Stawell Corridor. While the diamond drilling program remains ongoing, we have already identiﬁed new areas of mineralisation on the west ﬂank of the basalt, and now the likely extension to the Resolution shoot which is a key underpinning of the 280 – 420koz @ 2–3 g/t Exploration Target1 on this lode. We look forward seeing the results of the wedge hole and potential success in targeting higher grades up dip with the current drill hole RD046, presently in progress. The Tandarra drilling results conﬁrm that, across all three known mineralised zones, Tandarra is a highly prospective system and one of our most strategic and valuable assets in the Aureka portfolio. Over the second half of 2025 we will continue with drilling programs across our most valuable projects and best new targets, to grow our already substantial JORC compliant gold inventory and position our projects for potential development. Cautionary Statement The potential quantity and grade of the Exploration Target set out in Table 1 of this release is conceptual in nature. There has been insuﬃcient exploration to date to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of JORC Code. IRVINE GOLD PROJECT (STAWELL ZONE) Drilling results extend Resolution Lode The on-going diamond drilling program at the Irvine Project is aiming to test the down-plunge extension of the Resolution shoot. A parent hole (RD045) and wedge hole (RD045W1) have been completed for a total of 1,320m. Drilling of the holes was completed by Australia Mineral and Waterwell Drilling (AMWD). In addition to the previously reported Western Flank Discovery, assay results for the remainder of drill hole RD045 have been ﬁnalised and notable >0.1g/t Au intercepts are detailed below in Appendix A Table 1. Assay results for the wedge hole RD045W1 are expected to be received in coming weeks. Results from RD045 conﬁrmed the presence of mineralised lodes at Resolution approximately 250m down plunge from the inferred mineral resource (Figure 1). The key intersection for this zone was 1.18m @ 4.05g/t Au from 703.65m located proximal to the eastern margin of the Irvine basalt dome (Figure 2). Additional mineralisation down hole is interpreted to be associated with mineralised structures proximal to the Resolution and Simpson ﬂanking basalts. Gold intercepts include:     1 0.92m @ 2.06g/t Au from 252.13m 1m @ 3.85g/t Au from 399.7m 6.3m @ 0.72g/t Au from 405.7m 1.44m @ 2.12g/t Au from 697.56m    1.18m @ 4.05g/t Au from 703.65m 1m @ 1.45g/t Au from 759.82m 1m @ 3.57g/t Au from 761.82m Navarra Minerals Limited ASX Release: Maiden Mineral Resource for Stawell Corridor Gold Project, dated 30 March 2021 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 2 ASX ANNOUNCEMENT 11 JULY 2025 Early interpretation of the drilling indicates that the southerly plunge of mineralisation may be shallower than indicated in the historic models (Figure 1). Therefore, the next hole in the program (RD046, currently being drilled) is targeting to intersect the southerly projection of the mineralised lodes approximately 150m up dip. The exploration team continues to update the geological model whilst logging to assist with targeting high-grade mineralisation. * Figure 1 - Irvine Dome Project long projection with current drilling pierce points.*Gold grade of 2.0 to 3.0g/t Au Table 1 – Irvine Dome Project estimated Exploration Target in accordance with the 2012 edition of JORC Code2 2 Navarra Minerals Limited ASX Release: Maiden Mineral Resource for Stawell Corridor Gold Project, dated 30 March 2021 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 3 11 JULY 2025 Figure 2 - Resolution Extension drill program cross section Irvine Project (Stawell Zone) – background Aureka’s ﬂagship Irvine Gold Project is located in Western Victoria, A total of more than $11.5M has been spent since the acquisition of the project in 2015. The Irvine Project is Aureka’s ﬂagship project, located within Victoria’s renowned Stawell Gold Corridor, a region with a rich history of high-grade gold production and only 16km south of the operating Stawell Gold Mine. The project features a JORC-compliant Mineral Resource of 304koz @ 2.43 g/t gold3, with an additional Exploration Target of 280 – 420koz @ 2–3 g/t4. The project area occupies the northern portion of the historic Ararat Goldﬁeld and is hosted within the Mooranambool Metamorphic Complex (MMC) of the Stawell Zone. The MMC is a narrow belt of Cambrian turbidites and volcanic sequences with a dominant N-NW trend and is characterised by tight folding, cleavage development and high-angle faults. The MMC is host to the 5.3Moz Stawell Goldﬁeld5, including the currently operating multi Moz Stawell Gold Mine. Gold mineralisation at Irvine is associated with a package of steeply west dipping sheared basalt (Simpson Basalt) and meta-sediments oﬀset 50-80m from the eastern ﬂank of a Cambrian basalt dome (Irvine Dome) which is located on the hinge of an F2 antiform. Gold occurs on or adjacent to the shear zone, typically on meta-basalt/meta-sediment contacts where the rheological contrast provides an ideal locale for shearing. Navarra Minerals Limited ASX Release: Maiden Mineral Resource for Stawell Corridor Gold Project, dated 30 March 2021 Navarra Minerals Limited ASX Release: Maiden Mineral Resource for Stawell Corridor Gold Project, dated 30 March 2021 5 https://stawellgoldminescommunityhub.com.au/wp-content/uploads/2024/11/stawell-gold-corridor-conference-stawell-gold-mines271124.pdf 3 4 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 4 11 JULY 2025 Figure 3 – Aureka hosts at least 8 basalt domes (green) that are commonly associated with gold mineralisation in the Stawell zone. Geophysics helps deﬁne locations of these potentially mineralised domes. A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 5 11 JULY 2025 TANDARRA GOLD PROJECT JV (BENDIGO ZONE) Drilling results extend mineralisation at Lawry Aureka Limited (ASX: AKA) (Aureka or the Company) is pleased to report on recently completed diamond drilling results from the Tandarra Gold Project, a Joint Venture project with Catalyst Metals Limited (51%, operator) located 50 kilometres northwest of Agnico Eagle’s world class Fosterville Gold Mine, and 40 kilometres north of the Bendigo Goldﬁelds. Eight (8) diamond drill holes were completed during January and February 2025 for a total of 1,442.2 metres with three 100m spaced sections, two step-outs to the south (5970720mN and 5970825mN), and one to the north (5971150mN) with multiple holes drilled at each section (Figure 5). Gold intercepts include (see Appendix A Table 2 for full details): ○ TND019: 1.0m @ 2.4g/t from 137.8m ○ TND020: 2.3m @ 2.52g/t from 111.8m ○ TND025: 1.0m @ 5.0g/t from 154.6m ○ TND026: 1.7m @4.46g/t from 181.2m Figure 4 – Tandarra Gold Project - Lawry Prospect – Longitudinal Section6,7. 6 7 Catalyst Metals Ltd ASX Release: Gold grades of up to 831g/t at Lawry Prospect, Tandarra, dated 17 May 2022 Navarre Minerals Limited ASX Release: Tandarra Gold Project Diamond Drilling Results, dated 28 August 2024 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 6 11 JULY 2025 The object of the Lawry zone diamond drilling program was to:     Build on the understanding of the geological controls governing the distribution of mineralisation. Test the extent of the previously identiﬁed west-dipping structure from 130m – 150m depth, anticipating encountering quartz veins and breccia zones. Verify shallow anticlinal mineralisation at the top of the basement, and west and east dipping structures on the anticline eastern limb of the target zone. Test along strike potential of the system by stepping out to the south in two 100m stepouts and 100m to the north. Pleasingly, a prospective fault zone was intersected on all three sections with the greatest intensity on the southern sections, indicating a southern plunge to the system with all drill holes except one intercepting anomalous gold. Faulting within these Victorian system-types historically provide opportunity for greater mineralisation and good examples of this include the Iris Zone at Four Eagles and the Swan Zone at Fosterville. The results of this program, combined with past drilling, conﬁrm that Tandarra has the potential to deliver a repeat of the standout Iris Zone at the nearby Four Eagles Project (160k oz Maiden Mineral Resource8) . Drilling results conﬁrm that the strike at Lawry prospect now extends to a total of 430m with mineralisation open both north and south. First pass gold assay results indicate a consistency of mineralisation and include: TND019  1.0 m @ 2.4 g/t Au from 137.8 m  0.6 m @ 3.0 g/t Au from 148.4 m TND020  0.6 m @ 2.2 g/t Au from 104.9 m  2.3 m @ 2.52 g/t Au from 111.8 m TND021  0.8 m @ 1.5 g/t Au from 142.0 m  1.8 m @ 0.63 g/t Au from 166.2 m  1.0 m @ 1.1 g/t Au from 172.1 m TND022  0.5m @ 1.7 g/t Au from 85.9 m TND023  1.7m @ 0.46 g/t Au from 127m TND025  1.0 m @ 5.0 g/t Au from 154.6 m TND026  1m @ 1.0 g/t Au from 167.1 m  1.7 m @ 4.46 g/t Au from 181.2m Refer to the full results shown in Appendix A Table 2 of this release 8 Catalyst Metals Ltd ASX Release: Maiden Mineral Resource of 163,000oz at Four Eagles project, dated 15 June 2023 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 7 11 JULY 2025 These results follow on from previous high-grade intersections at the Lawry zone9,10:  TND007 in 2022: 12.9m @ 33.1g/t Au from 66.4m, o including 0.5m @ 831g/t  TND013 4.80m @ 1.43 g/t Au from 201.80m o including 0.80m @ 7.18 g/t Au from 202.80m  TND016 o 0.70m @ 2.21 g/t Au from 65.00m downhole, o 3.40m @ 5.97g/t Au from 118.60m downhole,  including: 0.80m @ 14.46g/t from 118.6m and 1.10m @ 5.94 g/t from 120.90m  Hole TND017 1.25m @ 4.02 g/t au from 61.80m Gold mineralisation across Tandarra is associated with discordant reverse faulting and the interaction with anticlinal and synclinal folds which provide the complex geometries associated with potential gold zones. As interpreted from the Tomorrow prospect, gold mineralisation is associated with discordant reverse faulting and the interaction with anticlinal and synclinal folds which provide complex geometries. The hole TND013 on section 5,970,990mN demonstrates the footwall facing of bedding which aligns with the interpretation of signiﬁcant reverse movement along the fault. There are examples of anomalous/signiﬁcant gold grades being present at several locations within the Tandarra Gold Project:     9 On the reverse fault In anticlinal hinges In/adjacent to synclinal hinges On concordant slip planes (generally laminated in nature). Catalyst Metals Ltd ASX Release: Gold grades of up to 831g/t at Lawry Prospect, Tandarra, dated 17 May 2022 Navarre Minerals Limited ASX Release: Tandarra Gold Project Diamond Drilling Results, dated 28 August 2024 10 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 8 11 JULY 2025 Figure 5 – Tandarra Gold Project - Lawry Prospect – depicting previous and a number of the most recent diamond drill holes11,12. 11 12 Catalyst Metals Ltd ASX Release: Gold grades of up to 831g/t at Lawry Prospect, Tandarra, dated 17 May 2022 Navarre Minerals Limited ASX Release: Tandarra Gold Project Diamond Drilling Results, dated 28 August 2024 A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 9 11 JULY 2025 Air Core drilling Results extend known mineralisation towards Four Eagles boundary An air core (AC) drilling program was also undertaken in January on RL006660 (Figure 6 and Appendix A Table 3). The objective was to: a) Follow up on anomalism identified through previous soil sampling and earlier air core drilling, and b) Determine the depth of cover overlying the original surface. Five (5) holes were completed with anomalous gold was detected in two of holes, 500m to the north of previous drilling. The best intersection was:  TNA078 o 1.00m @ 2.16 g/t au from 89m. The air core program, although limited, has extended the known areas of mineralisation within the Tandarra retention licence towards the northern boundary abutting the high grade Four Eagles Project. Figure 6 – Tandarra north area 2025 aircore drilling A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 10 11 JULY 2025 Tandarra Gold Project JV (Bendigo zone) – Lawry The Tandarra Gold Project is a joint venture between Aureka (49%) and Catalyst Metals Limited (Catalyst) (ASX:CYL) (51%, operator) on Retention Licence RL006660. The project is situated along the Whitelaw Gold Corridor, which extends for 13 kilometres along the Whitelaw and Tandarra Faults north of Bendigo and considered a major structural control of gold mineralisation. The project is located 50 kilometres northwest of Agnico Eagle’s world-class Fosterville Gold Mine, and 40 kilometres north of the Bendigo Goldfield. Figure 7 – Tandarra Gold Project location A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 11 11 JULY 2025 The Tandarra project contains three main prospects: Tomorrow, Macnaughton and Lawry. The Lawry prospect lies on the Reynolds trend, a lightly explored structure located about 250m east of the main Tomorrow trend, which is the most advanced prospect at Tandarra. The 2025 and 2024 diamond drilling results at Lawry demonstrate that the Reynolds trend is also well mineralised, with multiple gold intersections at both shallow and deeper depths. Drilling results conﬁrm that the strike at Lawry prospect now extends to a total of 430m with mineralisation open both north and south. Figure 8 – Geochemical interpretation of drilling in southern RL006660. A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 12 11 JULY 2025 This announcement has been approved for release by the Board of Directors. For further information, please visit www.aureka.com.au, or contact: James.Gurry@aureka.com.au Managing Director Ph: (03) 9692 7222 peter@nwrcommunications.com.au Investor and Media Relations Ph: 0412 036 231 Aureka uses InvestorHub for enhanced, 2-way, communication with shareholders, providing easy access to Company updates, reports, and announcements. Investors are encouraged to sign up to the InvestorHub distribution list on the Company’s website. Sing up here: https://investorhub.aureka.com.au/ A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 13 11 JULY 2025 Competent Persons Statements The information in this announcement that relates to exploration results, data quality, geological interpretations, Mineral Resources and Ore Reserves statements and Exploration Target potential statements for the Irvine Gold Project (Stawell Zone) is based on, and fairly represents, information compiled by Jozef Story, a Competent Person who is a Member of the Australian Institute of Geoscientists (MAIG) (#10079). Mr Story has suﬃcient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity currently being undertaken to qualify as a Competent Person as deﬁned in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Story consents to the publishing of the information in this presentation in the form and context in which it appears. The information in this announcement that relates to exploration results, data quality, geological interpretations, Mineral Resources and Ore Reserves statements and Exploration Target potential statements for the Tandarra Gold Project (Bendigo Zone) is based on, and fairly represents, information compiled by Mr Peter de Vries, who is both a Member of the Australian Institute of Geoscientists (MAIG) (#6129) and a Member of the Australasian Institute of Mining and Metallurgy (MAIMM) (#103264). Mr de Vries is the Principal consultant of Geological, Educational and Mining Services (G.E.M.S.) Pty Ltd, a consultant to Aureka Limited. Mr de Vries has suﬃcient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity currently being undertaken to qualify as a Competent Person as deﬁned in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr de Vries consents to the publishing of the information in this presentation in the form and context in which it appears. The Company conﬁrms that it is not aware of any new information or data that materially aﬀects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant ASX announcement continue to apply and have not materially changed. A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 14 11 JULY 2025 APPENDIX A Table 1. Irvine Diamond Drill Hole Location and Drilling Results >0.10 g/t Au. Hole ID RD045 Easting (MGA) 665,133 Northing (MGA) 5,880,881 RL (AHD) 323 Azimuth (MGA)o 39.4 Dipo -60 Depth (m) 917.21 Sample ID From To Interval (m) Grade (g/t) Au AKA000085 238.92 240 1.08 0.21 AKA000088 241 242.16 1.16 0.48 AKA000099 252.13 253.05 0.92 2.06 AKA000151 396.7 397.7 1 0.46 AKA000152 397.7 398.7 1 0.13 AKA000154 399.7 400.7 1 3.85 AKA000160 405.7 406.2 0.5 0.38 AKA000161 406.2 406.6 0.4 1.76 AKA000162 406.6 407.6 1 0.51 AKA000163 407.6 408.6 1 0.47 AKA000164 408.6 409.6 1 0.88 AKA000165 409.6 410.6 1 0.46 AKA000166 410.6 411.24 0.64 0.69 AKA000167 411.24 411.49 0.25 0.99 AKA000168 411.49 412 0.51 1.27 AKA000171 492.57 493.57 1 0.13 AKA000186 695.54 696.54 1 0.13 AKA000187 696.54 696.91 0.37 0.13 AKA000188 696.91 697.56 0.65 0.23 AKA000189 697.56 698.38 0.82 2.98 AKA000192 698.38 699 0.62 0.99 AKA000195 701 702 1 0.83 AKA000198 703.65 703.9 0.25 5.48 AKA000199 703.9 704.22 0.32 6.06 AKA000200 704.22 704.83 0.61 2.41 AKA000214 717.21 718.21 1 0.32 AKA000229 730 731.12 1.12 0.24 AKA000248 759.82 760.82 1 1.45 AKA000250 761.82 762.82 1 3.57 AKA000291 800.75 801.75 1 0.19 AKA000323 843.4 844.4 1 0.16 AKA000324 844.4 845.15 0.75 0.15 AKA000325 845.15 845.88 0.73 0.55 Comment 2.00m @ 0.3g/t Au 6.30m @ 0.72g/t Au 2.02m @ 0.16g/t Au 1.44m @2.12g/t Au 1.18m @ 4.05g/t Au 2.48m @ 0.27g/t Au The Resolution diamond drill program was undertaken by AMWD Pty Ltd. A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 15 11 JULY 2025 Table 2 Tandara Diamond Drill Hole Location and Drilling Results >0.20 g/t Au Hole ID TND019 TND020 TND021 TND022 TND023 Easting (MGA) 247,781 247,786 247,775 247,760 247,756 A S X : AK A Northing (MGA) 5,970,826 5,970,826 5,970,826 5,971,149 5,971,149 RL (AHD) 107.2 107.2 107.2 106.7 106.7 Azimuth (MGA)o 89.3 90 90.1 88 90 Dipo -59.8 -55 -70.1 -58.6 -72 Depth (m) 179 150 200.1 139.9 167.3 Interval (m) Grade (g/t) Au 122.3 1 0.33 123.6 124.1 0.5 2.19 A73462 133.9 134.8 0.9 0.56 A73464 135.8 136.8 1 0.52 A73467 136.8 137.4 0.6 0.44 A73468 137.8 138.8 1 2.37 A73469 138.8 139.8 1 0.72 A73476 145.6 146.5 0.9 0.72 A73478 147.6 148.2 0.6 0.93 A73479 148.4 149 0.6 3.03 A73480 149 149.6 0.6 0.34 A73516 178.1 179 0.9 0.31 A73523 100.7 101.2 0.5 0.37 A73526 104.9 105.5 0.6 2.15 A73527 106.9 107.8 0.9 0.26 A73528 109.5 110 0.5 0.8 A73531 111.8 112.4 0.6 5.26 Combined A73532 A73533 112.6 114.1 1.5 1.4 A73536 114.8 115.3 0.5 1.68 A73537 115.6 116.6 1 0.8 A73544 123.3 124.3 1 0.36 A73560 142 142.8 0.8 1.48 A73561 143 143.2 0.2 0.74 A73562 144.3 144.7 0.4 1.48 A73563 144.8 145.8 1 0.25 A73579 158 158.7 0.7 0.75 A73581 159.3 159.8 0.5 0.64 A73582 159.9 160.7 0.8 0.29 A73584 161.5 162.5 1 0.41 A73588 165 166.1 1.1 0.22 A73589 166.2 167 0.8 0.79 A73590 167 168 1 0.37 A73597 171.5 172.1 0.6 0.73 A73598 172.1 173.1 1 1.06 A73662 72.5 73 0.5 0.41 A73663 73.9 74.9 1 0.37 A73666 81 81.4 0.4 0.31 A73670 85.9 86.4 0.5 1.74 A73671 87.2 88.1 0.9 0.48 A73672 88.9 89.9 1 0.32 A73677 82.5 83.5 1 0.34 A73686 114.3 115 0.7 1.03 Sample ID From To A73450 121.3 A73452 BRINGING VICTORIA'S GOLD TO LIFE Comment 16 11 JULY 2025 TND024 247,749 5,971,149 106.7 89.4 -80.7 179.1 TND025 247,787 5,970,722 107 90 -60 197 TND026 247,782 5,970,722 107 85.7 -70.3 229.8 A73849 A73853 A73855 A73860 A73921 A73931 A73938 A73939 A73940 A73941 A73960 A73964 151.8 154.6 156.9 161.0 167.1 174.4 180.6 181.2 181.9 182.9 198.8 202.7 152.8 155.6 157.5 161.8 168.1 175.4 181.2 181.7 182.9 183.9 199.7 203.7 1.0 1.0 0.6 0.8 1.0 1.0 0.6 0.5 1.0 1.0 0.9 1.0 0.86 5.00 0.24 0.23 1.02 0.81 0.21 4.63 4.39 0.42 0.21 0.41 Interval (m) Grade (g/t) Au No assays >0.2g/t Au The Tandarra diamond drill program was undertaken by Deepcore Drilling Pty Ltd. Table 3. Tandarra Aircore Holes Location and Drilling Results >0.10 g/t Au Hole ID TNA078 TNA082 Easting (MGA) 245,297 246,605 Northing (MGA) 5,981,547 5,981,545 RL (AHD) 106 106 Azimuth (MGA)o 0 0 Dipo -90 -90 Depth (m) 132 180 TNA079 245,399 5,981,533 106 0 -90 138 TNA080 245,497 5,981,533 106 0 -90 141 TNA081 245,597 5,981,553 106 0 -90 137 A S X : AK A Sample ID From To A27491 89 90 1 2.16 A27630 120 123 3 0.12 A27631 123 124 1 0.21 A27632 124 125 1 0.14 A27653 177 180 3 0.11 BRINGING VICTORIA'S GOLD TO LIFE Comment Shale with 50% quartz. Basement 75m 5.0m @ 0.14 g/t No assays >0.1g/t Au No assays >0.1g/t Au No assays >0.1g/t Au 17 11 JULY 2025 Exploration Target – Irvine Project On 30 March, 2021, AKA (then trading as Navarre Minerals Limited ASX:NML) announced the maiden gold Exploration Target at its ﬂagship 100%-owned Resolution and Adventure projects in Victoria, Australia. Notably, the Exploration Target was constrained to the current drill footprint at Resolution and Adventure, as at the time these areas only contained suﬃcient drilling to determine continuity and infer grade ranges. Signiﬁcant potential exists to increase the size of the exploration target with additional drill results beyond the Exploration Target area. The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insuﬃcient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. Summary of Relevant Exploration Data, Methodology, and Assumptions Previously engaged consultants had, in conjunction with the Navarre Minerals personnel generated an estimate of the Exploration Target for the Resolution and Adventure prospects. These Exploration Targets represent the strike and depth/plunge extensions to the Mineral Resources deﬁned for both deposits. The results of this estimation are presented in Table 1 for the combined Exploration Targets. The Resolution and Adventure prospects are intersected by a predominantly west dipping shear zone which broadly mimics the strike of the Irvine basalt dome. Gold occurs on or adjacent to the shear zone, typically on meta-basalt/meta-sediment contacts where the rheological contrast provides an ideal locale for shearing and mineralisation. The attitude of the contacts also inﬂuences the shear geometry resulting in localised, high-grade gold shoots. The Exploration Target was based on the interpretation of the following geology and mineralisation data that had been collated as part of the 2021 MRE statement:        42 structurally oriented diamond drillholes and169 aircore, drill holes for a total of 23,465 m at the Resolution prospect that have been drilled by Navarre Minerals (NML), 10 structurally oriented diamond drillholes and 195 aircore, drill holes for a total of 17,952 m at the Resolution prospect that have been drilled by Navarre Minerals (NML), 943 density measurements on mineralised diamond drill core, and the determined SG’s were applied to the appropriate lithological units involved with the Exploration Target, surface geological mapping, costean data and diamond core geological logging, detailed LiDAR imagery, geophysical datasets including detailed ground magnetic and 3D induced polarisation, and wireframing and modelling of the Resolution and Adventure mineralised bodies. For the Resolution prospect, the Exploration Target has been estimated based on the strike continuity and down plunge continuity of the mineralisation deﬁned by drilling and modelled as part of the Mineral Resources. The extent of this strike and plunge continuity is considered to be consistent with that evident in the Magdala deposit analogue to the north of Resolution, as the mineralisation controls and style are consistent between the two deposits. To determine the tonnage and grade ranges for the Resolution prospect Exploration Target, the existing Mineral Resources as deﬁned at Resolution was used as the base case in combination A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 18 11 JULY 2025 with the geological understanding of the mineralisation model for Resolution. The northern strike extents component of the Exploration Target has been based on the initial wide spaced shallow AC drilling that extends approximately 900 metres to the north of the deﬁned Resolution mineralisation. The Consultants determined that the potential for a repeat of the mineralisation deﬁned in the upper parts of Resolution along strike is adequate for estimating an Exploration Target that is within +/-20% of the Resolution open pit Mineral Resource. In addition, the strong southerly plunge controls evident with the deeper parts of the Resolution Mineral Resource have been used to guide the estimation of an Exploration Target down this plunge direction at depth. This part of the Exploration Target has used the UG Mineral Resource deﬁned at an MSO cut-oﬀ grade of 1.4 g/t Au as a base with a +/-20% range applied for the tonnage, grade and ounces. For the Adventure prospect, the Exploration Target has been estimated based on the wide spaced exploration drilling that has been completed to date. The mineralisation as deﬁned by these drill results does not currently have adequate conﬁdence to be classiﬁed as a Mineral Resource. However, Mining Plus considers that the estimation of an Exploration Target is possible for the mineralised extents that have been modelled. The ranges for tonnage, grade and ounces have been estimated using the Adventure block model results reported at a 1 g/t Au cut-oﬀ (Figure 10) for those estimated blocks remaining unclassiﬁed (that do not satisfy the criteria of an Inferred Mineral Resource). A -20% and +30% range has then been applied to determine the ranges required for reporting an Exploration Target*. It is important to note that as these estimated blocks do not meet the requirements of a Mineral Resource, there is increased likelihood of grade extrapolation, rather than interpolation, hence the application of suitable tonnage, grade and ounce ranges for the Adventure Prospect Exploration Target. The upper grade, tonnage and ounces range of +30% has been based on the presence of two of the higher grade and thicker intercepts returned to date for Adventure being located at the base of the Exploration Target. A S X : AK A BRINGING VICTORIA'S GOLD TO LIFE 19 11 JULY 2025 APPENDIX B Irvine Gold Project JORC Code, 2012 Edition - Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Sampling techniques Diamond Core Drilling  The diamond drill core samples were selected on geological intervals varying from 0.20m to 1.0m in length.  All drill core was routinely cut in half (usually on the right of the marked orientation line) with a diamond saw and submitted for analysis.  Representat

Summary

In our recent Exploration Update, diamond drilling at the Irvine Gold Project in the Stawell Corridor showed promising results confirming mineralization. Potential for further growth was identified with gold intercepts reported, opening opportunities for continued resource expansion. The Tandarra Gold Project JV also saw encouraging results, particularly at the Lawry prospect. Drilling confirmed mineralization trends and showed potential for significant mineralization extension.

As Managing Director, I'm pleased with the progress we've made in our flagship projects and look forward to continued exploration. We aim to enhance our JORC compliant gold inventory through drilling programs and target new opportunities for development. We invite investors to engage with us, ask questions, or seek further information on our exciting exploration results.

For detailed insights into our recent exploration activities and findings, refer to the full release on our website.

We appreciate your interest and support as we strive to bring Victoria's gold resources to life. Feel free to reach out with any inquiries or for more information. Thank you for your continued trust and confidence in Aureka.

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