Announcement PDF ASX Announcement ASX: AAR 27 JULY 2026 Astral Resources Suite 2, Lyall St, South Perth WA 6151 ACN 009 159 077 T +61 8 9382 8822 E info@astralresources.com.au astralresources.com.au | ASX: AAR QUARTERLY REPORT – JUNE 2026 Highlights Mandilla Gold Project • Updated Mineral Resource Estimate (MRE) declared of 54Mt at 1.0g/t Au for 1.74Moz of contained gold1. • 148 holes (14,782m) of reverse circulation (RC) drilling completed during the Quarter, inclusive of: o Theia Stage 1 In-fill: 132 holes (13,275m); and o Theia Stage 2 In-fill: 16 holes (1,507m). • Nine holes (4,816m) of diamond drilling (DD) completed during the Quarter for the Theia deeps program, testing for depth extensions of the ore body below the current Stage Five open pit design. • Assay results for 3 DD holes (2,074 metres) and 43 RC holes (4,324m) were reported during the Quarter. Feysville Gold Project • Proposed joint venture with Mineral Mining Services Pty Ltd (MMS) with respect to the Think Big Gold Deposit on target to produce cash flow during the June 2027 Quarter, subject to finalising commercial terms. Spargoville Gold Project • Assays results for 12 holes (1,517m) of resource definition drilling at the 5B deposit were reported during the Quarter. Mandilla Project Definitive-Feasibility Study • Mandilla Project Definitive Feasibility Study (Mandilla DFS) continued with design and technical work streams advancing to schedule and permitting and approval requirements progressing. • Significant heritage clearance survey program underway across the broader Mandilla Project tenure. • Acquisition of the Mandilla Homestead, a freehold parcel of land located approximately 500 metres from the Mandilla Gold Project for $850,000, with settlement scheduled for on or around 10 August 2026, simplifying land access and future approvals. Corporate • Cash of approximately $65 million as at 30 June 2026 (previous quarter: $73 million). • Settlement of $1.7 million stamp duty liability during the Quarter, arising from the 2025 acquisition of Maximus Resources Limited. 1 - Mandilla JORC 2012 Mineral Resource Estimate: 1.3Mt at 1.3g/t Au for 57koz Measured Mineral Resources, 32.6Mt at 1.0g/t Au for 1,092koz Indicated Mineral Resources and 19.6Mt at 0.9g/t Au for 588koz Inferred mineral Resources (refer to Astral ASX announcement dated 21 April 2026) astralresources.com.au ASX: AAR | 2 Astral Resources NL (ASX: AAR) (Astral or the Company) is pleased to report on its activities during the quarter ended 30 June 2026 (the Quarter). MANDILLA PROJECT Astral continued to progress the Mandilla Project, which comprises the following three projects: 1. Mandilla Gold Project (Mandilla); 2. Feysville Gold Project (Feysville); and 3. Spargoville Gold Project (Spargoville). In June 2025, Astral announced the results of a Preliminary Feasibility Study for the Mandilla Gold Project (Mandilla PFS), which also included the mining of gold deposits at Feysville. It was based on a standalone project comprising seven open pit mines feeding a 2.75Mtpa processing facility, producing 95koz per year for the first 12 years. The base case gold price assumption for the Mandilla PFS was A$4,250/oz and demonstrated a Net Present Value (8% discount rate) (NPV8) of $1.4 billion2. At a A$6,000 gold price, the NPV8 increases to $2.7 billion3 . Four open-pit mines at Mandilla were included in the Mandilla PFS (Theia, Hestia, Eos and Iris), and three open-pits mines at Feysville (Kamperman, Think Big and Rogan Josh). Note that no contribution from Spargoville was included in the Mandilla PFS. The Company is currently progressing a Definitive Feasibility Study for Mandilla (Mandilla DFS). The Mandilla DFS is forecast for completion during the March Quarter 2027, with the projected timing reliant on receiving the necessary consents under the Mineral Rights Agreement and the completion of native title heritage surveys, both of which are required for the subsequent finalisation of site layouts and submission of approval documentation. Simultaneously, the Company is pursuing an early mining opportunity at the Think Big deposit at Feysville, which could produce cash flow during the June Quarter 2027. A map illustrating the location of Astral’s project interests is set out in Figure 1. 2 - Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025) 3 - Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025) – refer to gold price sensitivity Table 3 of ASX Announcement. astralresources.com.au ASX: AAR | 3 Figure 1 – Map illustrating the location of the Astral’s Mandilla, Spargoville and Feysville Gold Projects. astralresources.com.au ASX: AAR | 4 MANDILLA GOLD PROJECT The Mandilla Gold Project (Mandilla) is situated in the northern Widgiemooltha greenstone belt, approximately 70 kilometres south of the significant mining centre of Kalgoorlie, Western Australia. A map of Mandilla illustrating both the local area geology and mineral deposits is set out in Figure 2. MINERAL RESOURCE ESTIMATE UPDATE On 21 April 2026, the Company announced an updated JORC 2012 Mineral Resource Estimate (MRE) of 53.5Mt at 1.0g/t Au for 1.74Moz of contained gold (April 2026 MRE), encompassing the cornerstone Theia deposit and the Iris, Eos and Hestia deposits4. The MRE was prepared by independent consultant Cube Consulting in accordance with the JORC Code (2012 Edition). The April 2026 MRE was estimated using a 0.40g/t Au lower cut-off and constrained within pit shells derived using a gold price of A$4,500 per ounce. The cost assumptions underpinning the optimisation are based on mining and processing unit costs from the Mandilla PFS. The Mandilla MRE is summarised in Table 1 below, with a detailed breakdown by deposit provided in Table 2 and a grade and tonnage sensitivity analysis by cut-off grade provided in Table 3. Table 1 – Mandilla MRE (April 2026) Mineral Resource Estimate for the Mandilla Gold Project (Cut-Off Grade >0.40g/t Au) Classification Tonnes (Mt) Grade Au Metal (oz) Measured 1.3 1.3 57,000 Indicated 32.6 1.0 1,092,000 Inferred 19.6 0.9 588,000 Total 53.5 1.0 1,736,000 The preceding statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. 4 - Mandilla JORC 2012 Mineral Resource Estimate: 1.3Mt at 1.3g/t Au for 57koz Measured Mineral Resources, 32.6Mt at 1.0g/t Au for 1,092koz Indicated Mineral Resources and 19.6Mt at 0.9g/t Au for 588koz Inferred mineral Resources (refer to Astral ASX announcement dated 21 April 2026) astralresources.com.au ASX: AAR | 5 Table 2 – Mandilla MRE (April 2026) by source. Deposit Classification Tonnes (Mt) Grade (g/t) Au Metal (oz) Theia Measured 1.3 1.3 57,000 Indicated 23.4 1.1 825,000 Inferred 16.2 1.0 505,000 Total 41.0 1.1 1,387,000 Iris Indicated 4.7 0.8 117,000 Inferred 1.8 0.7 42,000 Total 6.5 0.8 159,000 Eos Indicated 2.4 1.1 86,000 Inferred 1.2 0.8 31,000 Total 3.7 1.0 118,000 Hestia Indicated 2.1 0.9 63,000 Inferred 0.3 1.1 10,000 Total 2.4 1.0 73,000 Total 53.5 1.0 1,736,000 All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. Table 3 – Mandilla MRE (April 2026) by cut-off grade. Cut-off grade (g/t Au) Tonnes (Mt) Grade (g/t) Au Metal (oz) 0.25 78.2 0.8 1,990,000 0.30 68.7 0.9 1,906,000 0.35 60.6 0.9 1,821,000 0.40 53.5 1.0 1,736,000 0.45 47.7 1.1 1,657,000 0.50 42.6 1.2 1,579,000 All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. The locations of the optimised pit shells based on a gold price of A$4,500 per ounce are set out in plan view in Figure 2. astralresources.com.au ASX: AAR | 6 Figure 2 – Map of Mandilla Gold Project showing April 2026 optimised pit shell outlines and section locations on local area geology. astralresources.com.au ASX: AAR | 7 Theia Mineral Resource Estimate Theia remains the cornerstone deposit at Mandilla, with the MRE estimated at 41.0Mt at 1.1g/t Au for 1.39Moz of contained gold. Theia represents approximately 80% of the Mandilla MRE. Following completion of a 99-hole (11,121m) RC drill program with drill spacing reduced to a 12.5m x 12.5m grid, the Company declared a maiden Measured Mineral Resource at Theia of 1.3Mt at 1.3g/t for 57koz of contained gold. Section 1, as illustrated in Figure 3 below, shows an isometric view of the Theia Deposit highlighting the cross-section location. The cross-section shows the April 2026 optimised pit shell (black line) and the new MRE model. At the $4,500 gold price, almost all the mineralisation is converted into the MRE as shown by the optimised pit shell. Image 1 – Aerial view (looking northwest) of the Theia deposit (July 2026) astralresources.com.au ASX: AAR | 8 Figure 3 – Isometric view of Theia (top image) showing the cross-section location. Cross-section at Theia (bottom image). astralresources.com.au ASX: AAR | 9 Iris Mineral Resource Estimate The April 2026 MRE for the Iris deposit was estimated at 6.5Mt at 0.8g/t for 159koz. This represented an increase of 47% as compared to the previous MRE (April 2025). Indicated Mineral Resources at Iris increased from 63% (April 2025) to 74% (April 2026). Section 4, as illustrated in Figure 4 below, shows an isometric view of the Iris Deposit highlighting the location of the longitudinal projection. The longitudinal projection illustrates the impact of the Theia-Iris gap drilling, with the MRE growing to the north (left of image), and the in-fill drilling in the central part of the deposit. Eos Mineral Resource Estimate The April 2026 MRE at Eos was estimated at 3.7Mt at 1.0g/t Au for 118koz of contained gold. This represented an increase of 147% in volume and 64% in contained gold as compared to the previous MRE (April 2025). The palaeochannel mineralisation remained broadly consistent, with 0.8Mt at 1.6g/t Au for 43koz of contained gold (compared to the April 2025 MRE of 0.7Mt at 2.1g/t Au for 46koz of contained gold). The oxidised/fresh rock mineralisation increased significantly to 2.8Mt at 0.8g/t Au for 75koz of contained gold (compared to the April 2025 MRE of 0.8Mt at 0.9g/t Au for 25koz of contained gold). Hestia Mineral Resource Estimate In April 2025, the Hestia MRE was estimated at 2.4Mt at 1.2g/t Au for 91koz of contained gold. In that update, the MRE had extended towards the south-south-east and was in the Inferred category. Subsequently, eight RC holes (990m) were completed to further test this area, which proved unsuccessful. As a result, the grade in that area of the deposit was downgraded. In response to the most recent drilling and estimation update, no potential economic optimised pits were demonstrated in the SSE area at the selected gold price of $4,500/oz. Additionally, the domain interpretation at Hestia was revised with lodes being treated as separate domains, which also resulted in a reduction in grade and overall ounces. As a result, the April 2026 MRE for the Hestia deposit now stands at 2.4Mt at 1.0g/t Au for 73koz of contained gold. A summary of information material to the understanding of the April 2026 MRE was provided in the ASX announcement dated 21 April 2026, in compliance with the requirements of ASX Listing Rule 5.8.1. astralresources.com.au ASX: AAR | 10 Figure 4 – Isometric view of Iris (top image) showing the location of longitudinal projection. Longitudinal projection at Iris (bottom image). astralresources.com.au ASX: AAR | 11 MANDILLA EXPLORATION Drilling During the Quarter, Astral completed a total of 19,598 metres of drilling at Mandilla, including 148 holes (14,782m) of RC drilling and 9 holes (4,816m) of DD. The RC drilling encompassed the following: • 132 holes (13,275m) of in-fill drilling at the Theia deposit on the proposed Stage 1 open pit contemplated in the Mandilla PFS (Theia RC Stage 1 In-fill Program). • 16 holes (1,507m) of in-fill drilling at the Theia deposit on the proposed Stage 2 open pit contemplated in the Mandilla PFS (Theia RC Stage 2 In-fill Program). The Theia Deeps DD Program commenced as a 6 hole (3,000m) program, seeking to demonstrate the significant resource growth potential beneath the cornerstone 1.4Moz Theia Deposit. Following the success of the original planned holes, the program was extended to 12 holes (7,500m). A total of 9 holes (4,816m) were completed during the Quarter. Assay Results Reported During the Quarter, Astral reported assay results for 3 DD holes (2,074m) from the Theia Deeps DD Program and 43 RC holes (4,324m) from the Theia RC Stage 2 In-fill Program completed at Mandilla. Subsequent to the end of the Quarter, Astral reported assay results for 47 holes (5,107m) from the Theia RC Stage 1 in-fill RC Program were reported on 9 July 20265 and assay results for an additional two DD holes (1,280m) from the Theia Deeps DD Program were reported on 14 July 20266. Assays results are discussed in detail below. Theia RC Stage 2 In-fill Program Assay results from the Theia RC Stage 2 In-fill RC Program were reported on 29 June 20267. The program was designed to in-fill a portion of the Stage 2 Theia open pit from the June 2025 Mandilla PFS to a 20m x 20m drill density (20m x 40m previously). Best assay results from the program included: • 4m at 1.61g/t Au from 67m (AMRC247) • 2m at 5.69g/t Au from 54m (AMRC248) • 8m at 10.5g/t Au from 42m, including 1m at 58.9g/t Au from 45m and 1m at 17.9g/t Au from 48m and 4m at 2.68g/t Au from 105m (AMRC249) • 20m at 0.56g/t Au from 53m (AMRC250) • 4m at 2.55g/t Au from 67m and 5m at 1.04g/t Au from 103m (AMRC251) • 8m at 1.56g/t Au from 66m (AMRC254) 5 - ASX Announcement 9 July 2026 “High-Grade Assay Results from Theia Stage 1 In-fill Drilling.” 6 - ASX Announcement 14 July 2026 “Deep Drilling Continues to Expand Theia Deeps.” 7 - ASX Announcement 29 June 2026 “Additional Broad Zones of Gold Mineralisation at Theia Deeps.” astralresources.com.au ASX: AAR | 12 • 8m at 4.61g/t Au from 54m, 2m at 2.93g/t Au from 69m and 9m at 1.44g/t Au from 105m (AMRC259) • 3m at 1.68g/t Au from 31m (AMRC261) • 2m at 7.37g/t Au from 72m (AMRC262) • 10m at 0.98g/t Au from 33m and 9m at 1.04g/t Au from 71m (AMRC266) • 17m at 1.02g/t Au from 40m and 11m at 1.40g/t Au from 75m (AMRC267) • 13m at 1.98g/t Au from 44m, including 1m at 14.7g/t Au from 49m and 11m at 1.08g/t Au from 69m (AMRC268) • 2m at 6.73g/t Au from 71m and 1m at 7.23g/t Au from 97m (AMRC271) • 5m at 4.18g/t Au from 70m, including 1m at 14.9g/t Au from 70m (AMRC273) • 7m at 2.38g/t Au from 34m, including 1m at 13.6g/t Au from 39m (AMRC279) • 10m at 1.93g/t Au from 45m, including 1m at 11.0g/t Au from 54m and 4m at 1.28g/t Au from 60m (AMRC280) • 3m at 1.36g/t Au from 51m and 3m at 5.19g/t Au from 76m, including 1m at 13.6g/t Au from 76m (AMRC289) • 2m at 1.08g/t Au from 44m and 6m at 1.55g/t Au from 50m (AMRC292) • 6m at 2.80g/t Au from 38m, including 1m at 14.7g/t Au from 38m (AMRC293) Cross-section C-C’, as located in the above isometric view, is shown below in Figure 5. Figure 5 – Cross-section view of the Theia Deposit showing Stage 2 in-fill drilling assay intervals. astralresources.com.au ASX: AAR | 13 Mineralisation encountered to date is consistent with the current geological model for Theia, comprising broad, consistent grade intervals within laterally continuous zones of quartz-sulphide veining that dip shallowly to the south‑west. Further in-fill drilling of the Stage 2 pit will be completed post completion of the Stage 1 in-fill program. In-fill drilling is continuing, with the intention that both Stages 1 and 2 of the Theia open pit are progressively in-filled to a Measured Resource category as the Mandilla Gold Project is advanced towards a Final Investment Decision. Theia RC Stage 1 In-fill RC Program Assay results from the Theia RC Stage 1 In-fill RC Program were reported on 9 July 20268. The in-fill program was designed to support the conversion of Stage 1 Mineral Resources to the Measured category, increasing confidence in the early mine plan and providing a key de-risking milestone for the Definitive Feasibility Study and project financing. Results received to date continue to validate both the geological interpretation and the existing Mineral Resource model. Best assay results from the program included: • 4m at 16.4g/t Au from 58m, including 1m at 61.3g/t Au from 58m (AMRC303) • 10m at 5.13g/t Au from 37m, including 1m at 41.8g/t Au from 40m and 14m at 0.72g/t Au from 83m (AMRC320) • 2m at 6.89g/t Au from 14m, including 1m at 13.2g/t Au from 14m, 10m at 1.04g/t Au from 34m and 4m at 11.5g/t Au from 50m including 1m at 40.7g/t Au from 50m (AMRC319) • 9m at 5.14g/t Au from 77m, including 1m at 39.0g/t Au from 78m (AMRC297) • 2m at 22.0g/t Au from 44m, including 1m at 43.5g/t Au from 44m (AMRC324) • 6m at 6.82g/t Au from 70m, including 1m at 30.2g/t Au from 71m (AMRC342) • 1m at 44.2g/t Au from 14m, 8m at 2.38g/t Au from 34m, 7m at 1.57g/t Au from 63m, 1m at 12.7g/t Au from 77m and 5m at 4.87g/t Au from 91m, including 1m at 12.5g/t Au from 92m (AMRC314) • 16m at 2.3g/t Au from 114m, including 1m at 12.2g/t Au from 118m (AMRC336) • 10m at 3.28g/t Au from 40m, including 1m at 22.9g/t Au from 48m (AMRC335) • 17m at 1.62g/t Au from 105m (AMRC321) • 11m at 2.73g/t Au from 15m, including 1m at 14.1g/t Au from 20m and 15m at 0.84g/t Au from 48m (AMRC307) • 12m at 2.23g/t Au from 78m, including 1m at 18.8g/t Au from 80m (AMRC331) • 1m at 8.12g/t Au from 23m and 6m at 3.62g/t Au from 78m (AMRC337) • 3m at 6.96g/t Au from 38m, including 1m at 11.0g/t Au from 38m (AMRC334) The assay results continue to validate the current geological and Mineral Resource model for Theia, comprising broad, consistent grade intervals within laterally continuous zones of quartz-sulphide veining that dip shallowly to the south‑west. The program is ongoing and is expected to continue through the remainder of CY2026. 8 - ASX Announcement 29 June 2026 “Additional Broad Zones of Gold Mineralisation at Theia Deeps.” astralresources.com.au ASX: AAR | 14 Theia Deeps DD Program Assay results from the Theia Deeps DD Program were reported on 15 May 2026 (one DD hole for 694m), 29 June 2026 (two DD holes for 1,380m) and 14 July 2026 (two DD holes for 1,280m). Best assay results reported included the following: Drill hole AMRCD263 Assay results from the initial Theia Deeps DD hole AMRCD263 was reported on 15 May 20269. AMRCD263 intersected gold mineralisation to a depth of 614.4 metres downhole and 210 metres below the current Mineral Resource Estimate (MRE), with a total intersection of 358.23m at 1.03 g/t Au from 256.17m. Higher-grade zones of gold mineralisation within the total intersection include: • 9.41m at 1.93g/t Au from 285m, including 0.3m at 14.6g/t Au from 289.84m and 0.3m at 21.5g/t Au from 290.99m • 15.70m at 3.40g/t Au from 320.44m, including 0.43m at 121.6g/t Au from 330.02m • 127.27m at 1.20g/t Au from 352.00m including 0.34m at 72.2g/t Au from 355.09m, 0.3m at 17.0g/t Au from 357.00m, 0.3m at 10.7g/t Au from 450.66m, 0.3m at 17.0g/t Au from 451.34m, 0.59m at 30.0g/t Au from 458.24m and 0.3m at 71.1g/t Au from 465.85m • 81.46m at 1.35g/t Au from 515.04m, including 1.13m at 42.7g/t Au from 518.07 • 5.75m at 2.00g/t Au from 607.75m The mineralisation intersected in AMRDC263 occurs largely outside the current 1.4Moz Theia MRE and confirms a significant extension of the mineralised system at depth. Drill holes AMRCD259 and AMRCD264 Assays results from DD holes AMRCD259 and AMRCD264 were reported on 29 June 202610. AMRCD259 returned a total intersection of 268.41m at 0.70g/t Au from 356.88m, with best results including: • 8.0m at 4.61g/t Au from 54.0m, including 1.0m at 21.3g/t Au from 54.0m • 9.0m at 1.44g/t Au from 105.0m • 18.0m at 0.65g/t Au from 259.0m • 45.53m at 2.15g/t Au from 356.88m, including 0.3m at 27.3g/t Au from 363.03m, 0.3m at 170.8g/t Au from 369.5m and 0.3m at 31.8g/t Au from 398.13m • 3.23m at 7.90g/t Au from 413.92m, including 0.3m at 82.1g/t Au from 416.14m AMRCD264 returned a total intersection of 199.94m at 1.34g/t Au from 47.46m, with best results including: • 26.49m at 0.93g/t Au from 90.3m • 51.49m at 2.42g/t Au from 128.0m, including 0.3m at 42.6g/t Au from 129.7m, 0.3m at 15.8g/t Au from 132.84m, 0.3m at 17.7g/t Au from 161.85m and 0.9m at 84.2g/t Au from 173.1m • 1.0m at 12.5g/t Au from 219.0m 9 - ASX Announcement 15 May 2026 “Gold Mineralisation Extended at Theia 210 Vertical Metres.” 10 - ASX Announcement 29 June 2026 “Additional Zones of Broad Gold Mineralisation at Theia Deeps.” astralresources.com.au ASX: AAR | 15 • 17.4m at 4.66g/t Au from 230.0m, including 0.3m at 31.9g/t Au from 238.9m and 1.0m at 65.7g/t Au from 240.0m • 9.0m at 1.51g/t Au from 456.0m, including 0.3m at 10.8g/t Au from 456.94m • 4.0m at 5.68g/t Au from 489.0m, including 0.3m at 32.1g/t Au from 489.91m and 0.3m at 26.3g/t Au from 491.17m The mineralisation intersected in AMRCD259 further extends Theia at depth, returning an intercept of 22m at 0.63g/t Au from 714m. This interval is 350 metres below the base of the Theia pit, demonstrating significant further scale to the mineralised system. Drill holes AMRCD260 and AMRCD261, Assays results from DD holes AMRCD260 and AMRCD261 were reported on 14 July 202611. Best reported results for AMRCD260 included: • 52.60m at 1.48g/t Au from 389.4m, including 0.45m at 17.9g/t Au from 408.2m, 0.3m at 16.4g/t Au from 414.94m and 0.3m at 18.3g/t Au from 427.77m • 7.0m at 5.22g/t Au from 583.0m, including 0.3m at 114.7g/t Au from 427.77m • 16.52m at 1.54g/t Au from 272.48m, including 0.35m at 28.5g/t Au from 272.48m • 43.86m at 0.87g/t Au from 605.0m, including 0.3m at 61.5g/t Au from 605.78m and 0.3m at 13.7g/t Au from 645.43m • 17.0m at 0.65g/t Au from 295.0m The mineralisation intersected in AMRCD260 within the April 2026 Resource pit shell (52.60m at 1.48g/t Au from 389.4m) correlates well current Inferred Mineral Resources at the corresponding location and significantly extends known mineralisation further at depth (7.0m at 5.22g/t Au from 583.0m and 43.86m at 0.87g/t Au from 605.00m). Best results for AMRCD261 include: • 54.0m at 2.38g/t Au from 316.0m, including 1.0m at 10.8g/t Au from 329.0m, 0.3m at 48.6g/t Au from 332.7m and 0.88m at 73.2g/t Au from 358.88m • 5.0m at 2.72g/t Au from 582.0m, including 1.0m at 11.9g/t Au from 582.0m • 14.77m at 0.78g/t Au from 601.13m AMRCD261 delivered a significant high-grade intersection beneath the April 2026 Mineral Resource pit shell (54.0m at 2.38g/t Au from 316.0m) and ended in mineralisation (5.0m at 2.72g/t Au from 582.0m and 14.77m at 0.78g/t Au from 601.13m) with visible gold (on the non-sample side of the core) observed at 603.33m down-hole12. 11 ASX Announcement 14 July 2026 “Deep Drilling Continues to Expand Theia Deeps.” 12 All references to 'visible gold' in this announcement in relation to drill holes AMRCD260 and AMRCD261 are references to occurrences of visible gold in core samples from drill holes for which chemical assay results have been reported. astralresources.com.au ASX: AAR | 16 FEYSVILLE GOLD PROJECT The Feysville Gold Project (Feysville) is located within the north-north-west trending Norseman – Wiluna Greenstone Belt within the Kambalda Domain of the Archean Yilgarn Craton, approximately 14km south of the KCGM Super Pit in Kalgoorlie. Significant gold and nickel mineralisation occurs throughout the belt, including world-class deposits such as the Golden Mile Super Pit in Kalgoorlie owned by Northern Star Resources Limited (ASX: NST) and the St Ives Gold Mine south of Kambalda owned by Gold Fields Limited, as well as the Beta Hunt Gold Mine owned by Westgold Resources Limited (ASX: WGX). Feysville hosts an MRE of 5Mt at 1.2g/t Au for 196koz13 of contained gold at the Kamperman, Think Big and Rogan Josh deposits. The recently completed Mandilla PFS demonstrated that Feysville is a valuable source of satellite ore feed for a future operation based at Astral’s flagship Mandilla Gold Project, contributing 3.7Mt at 1.1g/t Au for 132koz towards the production target of 1.41Moz14 . Locally, Feysville has been interpreted to contain upthrust ultramafics, emplaced within a sequence of volcanic sediments (the Black Flag sediment group), granitic intrusions, mafic basalts, gabbro and andesite. A map of the Feysville Gold Project identifying tenements and deposits/prospects on local area geology, as well as the newly granted Mining Lease, is set out in Figure 6. FEYSVILLE EXPLORATION Drilling Completed No drilling was completed during the Quarter at the Feysville Gold Project. Astral intends commencing drilling immediately after relevant heritage clearance surveys have been completed. Drilling will be focused on infill and extensional drilling at the Kamperman deposit. Assay Results Reported No assay results were reported during the Quarter for the Feysville Gold Project. EARLY PRODUCTION OPPORTUNITY – THINK BIG DEPOSIT On 20 October 202515, Astral announced the execution of a Letter of Intent (LOI) with specialist mining services provider, Mineral Mining Services Pty Ltd (MMS), for a Development Partnership/Joint Venture (JV) with respect to the Think Big Gold Deposit, within its 100%-owned Feysville Gold Project near Kalgoorlie in WA. Under the proposed JV, MMS will fund 100% of the development costs for Think Big, which will be recovered from initial project cash flows. Following cost recovery, profits will be shared, with MMS to receive between 30% and 50%. This structure strongly aligns the interests of both parties to maximise project profitability and ensure efficient development. The partnership leverages MMS’s extensive experience and capability to accelerate the development of Think Big, creating a clear pathway to commercialisation. 13 Feysville JORC 2012 Mineral Resource Estimate: 4Mt at 1.3g/t Au for 144koz Indicated Mineral Resources and 1Mt at 1.1g/t Au for 53koz Inferred Mineral Resources (refer to Astral ASX announcement dated 1 November 2024). 14 Mandilla Project Pre-Feasibility – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025). 15 - ASX Announcement 20 October 2025 “Astral Secures Development Partner for Think Big Project.” astralresources.com.au ASX: AAR | 17 A heritage clearance survey is being undertaken at Think Big to facilitate the proposed JV early gold mining opportunity. Subject to finalisation of a binding JV and the receipt of approvals, the JV is aiming to commence mining during the first half of calendar year 2027, aligning with a targeted FID for the Mandilla Gold Project. Figure 6 – Map of Feysville Gold Project (including tenements and deposits/prospects) on local area geology. astralresources.com.au ASX: AAR | 18 SPARGOVILLE GOLD PROJECT The Spargoville Gold Project (Spargoville) is located in the Coolgardie Domain within the Kalgoorlie Terrane, adjacent to Mandilla and approximately 25 km south-west of Kambalda and approximately 20km west of Gold Fields Limited +20-million-ounce St Ives gold camp. The greenstone stratigraphy of the Kalgoorlie Terrane can be divided into three main units: 1. Predominantly mafic to ultramafic units of the Kambalda Sequence, with these units including the Lunnon Basalt, Kambalda Komatiite, Devon Consols Basalt, and Paringa Basalt; 2. Intermediate to felsic volcaniclastic sequences of the Kalgoorlie Sequence, represented by the Black Flag Group; and 3. Siliciclastic packages of the late basin sequence known as the Merougil Beds. The Paringa Basalt, or Upper Basalt, is less developed within the Coolgardie Domain, but similar mafic volcanic rocks with comparable chemistry are found in the Wattle Dam area. Slices of the Kambalda Sequence referred to as the Burbanks and Hampton Formations, are believed to represent thrust slices within the Kalgoorlie Sequence. The Kalgoorlie Terrane has been the subject of at least five major regional deformational events. Granitoid intrusions associated with syntectonic domains are present in the Wattle Dam area, including the Depot Granite and the Widgiemooltha Dome. Domed structures associated with granitoid emplacement are observed in the St Ives camp, with deposition of the Merougil Beds and emplacement of porphyry intrusions occurring during extensional deformation. Gold occurrences associated with the Zuleika and Spargoville shears are representative of deposits that formed during sinistral transpression on north-west to north-north-west trending structures. The Spargoville Project comprises several advanced gold prospects and deposits, including Wattle Dam, Eagles Nest, Larkinville, Hilditch and 5B. As of May 2025, the combined MRE for Spargoville is 3Mt at 1.4g/t Au for 139koz of contained gold16. The Wattle Dam Gold Project, which accounts for 2.1Mt at 1.3g/t Au for 91koz of the total MRE, includes the Redback, Golden Orb, Trapdoor, Huntsman, Wattle Dam Stockwork, S5, and 8500N deposits. Having only been acquired just prior to completion of the Mandilla PFS, Mineral Resources of the Spargoville Gold Project were not included as part of the Mandilla PFS. A map of Spargoville illustrating both the local area geology and gold deposits is set out in Figure 7. 16 - Spargoville JORC 2012 Mineral Resource Estimate: 1.9Mt at 1.3g/t Au for 81koz Indicated Mineral Resources and 1.1Mt at 1.6g/t Au for 58koz Inferred Mineral Resources. See ASX announcement 7 May 2025. astralresources.com.au ASX: AAR | 19 Figure 7 – Map of Spargoville Gold Project identifying gold deposits on local area geology. SPARGOVILLE EXPLORATION Drilling Completed No drilling was completed during the Quarter at Spargoville. Astral intends to commence drilling immediately after relevant heritage clearance surveys have been c