Back to Theia, and the story keeps holding up!

The in-fill program at Stage 1 just delivered assays from another 56 holes, and the pattern investors have been watching for months continues- broad, high-grade intercepts, consistently.

Standouts

• 31m at 3.03g/t Au from 12m, including 1m at 59.8g/t (AMRC380)

• 19m at 2.70g/t Au from 41m, including 1m at 36.2g/t (AMRC389)

• 21m at 2.01g/t Au from 74m (AMRC396)

• 11m at 3.93g/t Au from 106m, including 1m 34.3g/t (AMRC397)

The average grade across every interval in this release is 1.24g/t Au, still comfortably above the Stage 1 pit’s resource grade, and consistent with the last two rounds of assays (1.93g/t in December, 1.41g/t in July). Three data points now, all pointing the same direction.

151 of 431 planned holes are complete, tightening drill spacing to 12.5m x 12.5m across the Stage 1 pit, the density needed to convert this inventory to Measured Resources.

The bigger news buried in the detail:

Astral has now put a date on the Definitive Feasibility Study- targeted for completion in Q1 2027.

There’s also a separate early cash flow opportunity at Think Big (Feysville) being pursued for as early as Q2 2027.

So the picture coming together: in-fill drilling de-risking Stage 1, deep drilling at Theia Deeps testing for more ounces below, and now a firm timeline on the study that turns all of this into a financeable, buildable project.