ASX:AAR - Annual Report

Annual Report

Released 25 Sep 2026 - 8:52 AM

Announcement PDF ASTRAL RESOURCES NL AND ITS CONTROLLED ENTITIES ABN 24 651 541 976 Annual Report For the year ended 30 June 2026 astralresources.com.au Astral Resources NL Annual Report 30 June 2026 2 CONTENTS CORPORATE DIRECTORY ............................................................................................................................................... 3 REVIEW OF OPERATIONS................................................................................................................................................ 4 DIRECTORS’ REPORT .................................................................................................................................................... 41 AUDITOR’S INDEPENDENCE DECLARATION............................................................................................................... 62 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME............................. 63 CONSOLIDATED STATEMENT OF FINANCIAL POSITION............................................................................................ 64 CONSOLIDATED STATEMENT OF CASH FLOWS......................................................................................................... 65 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY............................................................................................ 66 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS...................................................................................... 67 CONSOLIDATED ENTITY DISCLOSURE STATEMENT ................................................................................................. 90 DIRECTOR’S DECLARATION.......................................................................................................................................... 91 INDEPENDENT AUDITOR’S REPORT ............................................................................................................................ 92 ASX ADDITIONAL INFORMATION .................................................................................................................................. 96 Astral Resources NL Annual Report 30 June 2026 3 CORPORATE DIRECTORY This financial report includes the consolidated financial statements and notes of Astral Resources NL (Astral or the Company) and its controlled entities (the Group). The Group’s functional and presentation currency is AUD ($). A description of the Group’s operations and of its principal activities is included in the review of operations and activities in the Directors’ report. The Directors’ Report is not part of the Financial Report. Directors Mark Connelly - Non-Executive Chairman Marc Ducler - Managing Director Justin Osborne - Non-Executive Director David Varcoe - Non-Executive Director Peter Stern - Non-Executive Director Company Secretary Brendon Morton Registered Office & Principal Place of Business Suite 2, 6 Lyall Street South Perth WA 6151 Telephone: +61 8 9382 8822 E-mail: info@astralresources.com.au Website: www.astralresources.com.au Share Registry Automic Registry Services Level 5, 191 St Georges Terrace Perth WA 6000 Telephone: +1300 288 664 Auditors BDO Audit Pty Ltd Level 9, Mia Yellagonga Tower 2 5 Spring Street Perth WA 6000 Bankers National Australia Bank Level 14 100 St Georges Terrace Perth WA 6000 Solicitors Thomsons Level 29, Central Park Tower 152-158 St Georges Terrace Perth WA 6000 Stock Exchange Australian Securities Exchange Limited Level 40, Central Park Tower 152-158 St Georges Terrace Perth WA 6000 ASX Code: AAR Astral Resources NL Annual Report 30 June 2026 4 REVIEW OF OPERATIONS SUMMARY AND HIGHLIGHTS During the year ended 30 June 2026, Astral Resources NL (“Astral” or “the Company”) continued its transition from advanced explorer to gold project developer, achieving substantial progress across its Mandilla, Feysville and Spargoville projects in the Eastern Goldfields of Western Australia. The Company’s primary focus remained the advancement of the Mandilla Gold Project toward development, including extensive infill drilling, definitive feasibility study streams and permitting activities. Astral made significant progress during the financial year on the Mandilla Definitive Feasibility Study (Mandilla DFS), which is targeted for completion during H12026. During the financial year, the Company also undertook a significant $65 million equity capital raising and announced a material upgrade to the Mandilla Mineral Resource Estimate (MRE) of 54Mt at 1.1 g/t Au for 1.74Moz of contained gold (Mandilla MRE)1 . Additionally, Astral continued to explore potential early production opportunities at the Feysville Gold Project, via the proposed joint venture with Mineral Mining Services Pty Ltd (MMS). Astral’s consolidated Ore Reserve Estimate (ORE) is 36.6Mt at 0.9 g/t Au for 1.08Moz of contained gold (Group ORE) 2 . A map illustrating the location of Astral’s project interests is set out in Figure 1. Figure 1 – Map illustrating the location of the Astral’s Mandilla, Spargoville and Feysville Gold Projects. 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). 2 - Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025). Astral Resources NL Annual Report 30 June 2026 5 Following the announcement of the Mandilla MRE on 21 April 2026, the combined MRE across the Company’s three projects is 62Mt at 1.0g/t Au for 2.07Moz of contained gold (Group MRE), including the MRE at Feysville of 5Mt at 1.2g/t Au for 196koz of contained gold (Feysville MRE)3 and the MRE at Spargoville of 3Mt at 1.4g/t Au for 139koz of contained gold (Spargoville MRE)4. Astral completed approximately 84 kilometres of drilling during the financial year, across the Mandilla, Feysville and Spargoville Projects. This included 56,689 metres of drilling at Mandilla, 2,954 metres of drilling at Feysville and 24,390 metres of drilling at Spargoville. Drilling included infill drilling, resource extensional drilling, exploration drilling and sterilisation drilling around the planned infrastructure locations for the Mandilla Project. Drilling at Mandilla during the financial year included 8,560 metres of diamond drilling (DD) and 48,129 metres of reverse circulation (RC) drilling. Drilling at Feysville during the financial year included 2,954 metres of RC drilling. Drilling at Spargoville during the financial year included 24,390 metres of RC drilling. Refer to Figure 2 below. Figure 2 – Chart illustrating information regarding drilling completed during the financial year by project. During the financial year, Astral reported assay results for a total of 51,376 metres of drilling, inclusive of 26,218 metres at Mandilla, 7,667 metres at Feysville and 17,491 metres at Spargoville. Subsequent to the end of the financial year, Astral reported assay results for an additional 19,165 metres of drilling. Assay results are discussed in subsequent sections by project. Astral made significant progress during the financial year on the Mandilla Definitive Feasibility Study (Mandilla DFS), which is targeted for completion during the March 2027 Quarter. GR Engineering Services was appointed to deliver the design and engineering scope for the DFS, with capital and operating costs now under review by Astral. Detailed mine designs, schedules and mine costing is also underway. Importantly, Astral has now executed a Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group over the Mandilla and Spargoville Gold project areas. This now paves the way for Astral to finalise site layouts and finalise the Native Vegetation Clearing Permit (NVCP) and Mine Development and Closure Plan (MDCP) submissions, which are targeted for September 2026. The Works Approval is expected to follow immediately thereafter. 3 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. See ASX Announcement 1 November 2024. 4 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. Astral Resources NL Annual Report 30 June 2026 6 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. The area hosts world-class deposits such as the Fimiston Open Pit in Kalgoorlie, owned by Northern Star Resources Limited (ASX: NST), and the St Ives Gold Mine approximately 20 kilometres to the south-east of Kambalda, owned by Gold Fields Limited, as well as the Beta Hunt Gold Mine immediately to the south of Kambalda, owned by Westgold Resources Limited (ASX: WGX). Mandilla is covered by existing Mining Leases. The Mandilla Gold Project includes the Theia, Iris, Eos and Hestia deposits. Gold mineralisation at Theia and Iris is comprised of structurally controlled quartz vein arrays and hydrothermal alteration close to the western margin of the Emu Rocks Granite and locally in contact with sediments of the Spargoville Group. Significant NW to WNW-trending structures along the western flank of the project are interpreted from aeromagnetic data to cut through the granitic intrusion. These structures are considered important in localising gold mineralisation at Theia, which has a mineralised footprint extending over a strike length of more than 1.6km. A second sub-parallel structure hosts gold mineralisation at the Iris deposit. The mineralised footprint at Iris extends over a strike length of approximately 700 metres, combining with Theia to form a mineralised zone extending over a strike length of more than 2.3 kilometres. At Eos, located further to the south-east, a relatively shallow high-grade mineralised palaeochannel deposit has been identified which extends over a length of approximately 900 metres. A primary gold source is also present, with further drilling required to determine both the nature and structural controls on mineralisation and its extent. Mineralisation delineated over approximately 1,300 metres of strike at the Hestia deposit, located approximately 500 metres west of Theia, is associated with a shear zone adjacent to a mafic/sediment contact, interpreted to be part of the major north-south trending group of thrust faults known as the Spargoville Shear Corridor. Locally, the Spargoville Shear Corridor hosts the historically mined Wattle Dam gold mine (266koz at 10.6g/t Au) and, further to the north, the Ghost Crab/Mt Marion mine (>1Moz). In April 2026, Astral announced a Mineral Resource Estimate (MRE) of 53.5Mt at 1.0 g/t Au for 1.74Moz of contained gold5 for the Mandilla Gold Project. Mandilla hosts an Ore Reserve Estimate (ORE) of 34.3Mt at 0.9 g/t Au for 1.00Moz of contained gold2 . Metallurgical testing undertaken on each of the main deposits at Mandilla – Theia, Iris, Eos and Hestia – has demonstrated high gravity recoverable gold, fast leach kinetics and exceptional overall gold recoveries with low reagent consumptions and coarse grinding6,7 . In June 2025, Astral announced the results of a Preliminary Feasibility Study for Mandilla (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. Incorporating a base case gold price assumption for the Mandilla PFS of A$4,250/oz, a Net Present Value (8% discount rate) (NPV8) of $1.4 billion8 is calculated. At a A$6,000 gold price, the NPV8 increases to $2.7 billion. 5 Mandilla JORC 2012 Mineral Resource Estimate: 1.3Mt at 1.3g/t Au from 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). 6 ASX Announcement 6 June 2022 “Outstanding metallurgical test-work results continue to de-risk Mandilla.” 7 ASX Announcement 17 September 2024 “Outstanding metallurgical results further de-risk Mandilla.” 8 Mandilla Project Pre-Feasibility Study – Maiden Ore Reserve (refer to Astral ASX Announcement dated 25 June 2025). Astral Resources NL Annual Report 30 June 2026 7 The Mandilla PFS incorporated four open-pit mines at Mandilla (Theia, Hestia, Eos and Iris) and three open-pits mines at Feysville (Kamperman, Think Big and Rogan Josh). The Company is currently progressing the 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. Image 1 – Aerial view (looking northwest) of the Theia deposit (July 2026) Astral Resources NL Annual Report 30 June 2026 8 Figure 3 – Map of Mandilla Gold Project showing gold deposits on local area geology. 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 deposits1 . 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. Astral Resources NL Annual Report 30 June 2026 9 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. 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. Astral Resources NL Annual Report 30 June 2026 10 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 3 above. Theia Mineral Resource Estimate Theia is 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. A 99-hole (11,121m) reverse circulation (RC) drill program to 12.5m x 12.5m, resulted in the declaration of a maiden Measured Mineral Resource at Theia of 1.3Mt at 1.3g/t for 57koz of contained gold as part of the MRE update. Further in-fill drilling is ongoing in respect of the remainder of the Theia Stage 1 and Stage 2 open pits as contemplated in the Mandilla PFS. Section 1, as illustrated in Figure 4 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 a A$4,500 gold price, almost all the mineralisation is converted into the MRE as shown by the optimised pit shell. During the financial year, a 6-hole (3,000m) DD program commenced, with the aim of testing for extensions up to 175m below the currently known limit of mineralisation. This drilling was aimed to scope the potential scale of the Theia mineral system and identify targets for future resource growth. Details of this drilling program are discussed later in this Report. Image 2 – Hard at work on site. Astral Resources NL Annual Report 30 June 2026 11 Figure 4 – Isometric view of Theia (top image) showing the cross-section location. Cross-section at Theia (bottom image). Astral Resources NL Annual Report 30 June 2026 12 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). Mineral Resources in the Indicated category increased from 63% (April 2025) to 74% (April 2026). Section 4, as illustrated in Figure 5 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 (right of image), and the in-fill drilling in the central part of the deposit. Figure 5 – Isometric view of Iris (top image) showing the location of longitudinal projection. Longitudinal projection at Iris (bottom image). Astral Resources NL Annual Report 30 June 2026 13 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 grew 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 A$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 is now 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 20261 , in compliance with the requirements of ASX Listing Rule 5.8.1. EXPLORATION Summary During the financial year, Astral completed a total of 56,689 metres of drilling at Mandilla, comprising 8,561 metres of DD and 48,129 metres of RC drilling. During the financial year, Astral reported assay results for a total of 26,218 metres of drilling at Mandilla. This included 4,491 metres of DD and 21,727 metres of RC drilling. Assay results for an additional 19,165 metres were reported subsequent to the end of the financial year, including 4,632 metres of DD and 14,533 metres of RC drilling. Drilling programs and assay results reported during the period are discussed in detail below. Diamond Drilling The following DD programs were completed during the financial year:  Theia Deeps: an original 6-hole (3,000-metre) DD program at Theia targeting of extensions up to 175 metres below the currently known limit of mineralisation was expanded to a 21-hole (11,000 metres) program based on early success. This drilling will scope the potential scale of the Theia mineral system and identify targets for future resource growth. A total of 4,910 metres of DD were completed during the financial year, in addition to 454 metres of RC drilling for diamond pre-collars (Theia Deeps DD Program).  Geotechnical: this program included 19 holes for 1,228 metres of DD at the Eos and Hestia deposits, and the proposed location of the Mandilla Processing Plant (Mandilla Geotech Program).  Extensional: this program included 3-holes (776-metres) drilled to test an interpreted high-grade structure (the 230 shear) within the Theia deposit and 4-holes (1,647-metres) drilled to test for the presence of a potential sub-parallel mineralised structure to the east and below the proposed Stage 5 open pit shell at the Theia deposit (Theia Extensional Program). Astral Resources NL Annual Report 30 June 2026 14 Assay Results Reported Theia Deeps DD Program During and subsequent to the end of the financial year, Astral reported assay results for a total of five DD holes (3,354 metres) on 15 May 20269 , 29 June 202610 , 14 July 202611 , 17 August 202612 , 8 September 202613 and 15 September 202614 . The assay results continue to demonstrate the significant resource growth potential beneath the cornerstone 1.4Moz Theia Deposit, with broad zones of mineralisation intersected both within and below the April 2026 MRE. An isometric view showing the drill-hole collar locations for the Theia Deeps DD Program is shown in Figure 6 below. Figure 6 – Isometric view of the Theia Deposit showing the MRE block model, the drill traces for the completed and planned deep DD holes and the cross-section locations Best assay results reported to date from the program are discussed below: DD Hole AMRCD2639 Drill-hole AMRCD263 intersected gold mineralisation to a depth of 614.4 metres downhole and 210 metres below the current 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 9 ASX announcement dated 15 May 2026 – “Gold Mineralisation at Theia Extended 210 Vertical Metres”. 10 ASX announcement dated 29 June 2026 – “Additional Broad Zones of Gold Mineralisation at Theia Deeps”. 11 ASX announcement dated 14 July 2026 – “Additional Broad Zones of Gold Mineralisation at Theia Deeps”. 12 ASX announcement dated 17 August 2026 – “Theia Deeps Continues to Expand”. 13 ASX announcement dated 8 September 2026 – “More Thick High-Grade Infill Results Strengthen Theia Stage 1”. 14 ASX announcement dated 15 September 2026 – “Theia Deeps Assay Results Continue to Strengthen Case”. Astral Resources NL Annual Report 30 June 2026 15  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 518.07m  5.75m at 2.00g/t Au from 607.75m. This mineralisation occurs largely outside the current 1.4Moz Theia MRE1 and appears to confirm the continuation of the mineralised system at depth. DD Hole AMRCD25910 Drill hole AMRCD259 returned the deepest mineralised interval to date, with 22.0m at 0.63g/t Au from 714.0m. Several zones of higher-grade gold mineralisation were recorded within a total intersection of 268.41m at 0.70 g/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 3.23g/t Au from 413.92m  26.0m at 0.52g/t Au from 461.0m  27.81m at 0.45g/t Au from 534.19m  22.0m at 0.63g/t Au from 714.0m. DD Hole AMRCD26410 The third drill hole completed in the Theia Deeps program was AMRCD264. This hole, which is located up-dip and 100m north of AMRCD263 (ASX announcement 15 May 2026), was designed to progress sub-parallel to the interpreted higher-grade mineralised pipe, aiming to extend mineralisation at depth. Again, several zones of higher-grade gold mineralisation were recorded within 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  17.4m at 4.66g/t Au from 230.0m, including 0.3m at 31.9g/t Au from 238.9m, 1.0m at 65.7g/t Au from 240.0m  21.85m at 0.53g/t Au from 288.0m  38.0m at 0.45g/t Au from 408.0m  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 high-grade intercept of 51.49m at 2.42g/t Au from 128m confirmed the gold mineralisation within the Indicated portion of the Theia MRE. The significant gold intercepts of 38m at 0.45g/t Au from 408m, 9m at 1.51g/t Au from 456m and 4m at 5.68g/t Au from 489m were well below the base of the A$4,500 Theia Mineral Resource shell. DD Hole AMRCD26011 Best results from AMRCD260 included the following:  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 with the current Inferred Mineral Resources at the corresponding location and significantly extends known mineralisation at depth (7.0m at 5.22g/t Au from 583.0m and 43.86m at 0.87g/t Au from 605.00m). DD Hole AMRCD26111 Best results from AMRCD261 included the following:  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 Astral Resources NL Annual Report 30 June 2026 16  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). DD Hole AMRCD26212 DD hole AMRCD262 returned several broad deep intervals well outside the April 2026 Mineral Resource shell. Best results for AMRCD262 included:  2m at 7.37g/t Au from 72m  1.3m at 5.53g/t Au from 278m  15m at 0.63g/t Au from 325m  30m at 0.98g/t Au from 470m, including 0.38m at 28.1g/t Au from 494.3m  21m at 0.45g/t Au from 518m  25m at 1.68g/t Au from 546m  25m at 0.79g/t Au from 581m. DD Hole AMRCD37612 DD hole AMRCD376, which was drilled 200 metres north-east of AMRCD260, returned several significant intersections that support both existing Inferred Mineral Resources within the April 2026 Mineral Resource shell and extending the Theia deposit at depth. Best results for AMRCD376 included:  7m at 1.63g/t Au from 59m  4.4m at 11.6g/t Au from 197.6m, including 0.3m at 155.5g/t Au from 197.6m  16.05m at 0.75g/t Au from 265m, including 1.0m at 14.3g/t Au from 280.75m  36m at 1.00g/t Au from 302m, including 1m at 14.7g/t Au from 337m  9.13m at 0.78g/t Au from 373.77m  45m at 1.39g/t Au from 389m, including 0.3m at 35.8g/t Au from 394.05m, 0.3m at 11.2g/t Au from 397.5m and 0.32m at 44.9g/t Au from 400m  64m at 0.57g/t Au from 491m  12.8m at 0.58g/t Au from 562m. DD Hole AMRCD37812 Best results for AMRCD378 included:  15m at 0.94g/t Au from 166m  15m at 0.63g/t Au from 303m  21m at 1.61g/t Au from 321m, including 1m at 27.0g/t Au from 340m  3m at 2.41g/t Au from 382m  16m at 0.37g/t Au from 396m  7m at 2.64g/t Au from 418m, including 0.4m at 21.8g/t Au from 419.25m  52.75m at 4.67g/t Au from 445.25m, including 0.35m at 47.2g/t Au from 445.25m, 0.47m at 20.3g/t Au from 471.85m, 0.3m at 18.7g/t Au from 486.46m, 0.34m at 477g/t Au from 4

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