Announcement PDF 2 0 2 6 A N N U A L R E P O R T 1 - 2 0 2 6 A N N U A L R E P O R T 2 Contents Chairman’s Letter .................................................................................................................... 3 Review of Operations .............................................................................................................. 4 Directors' Report……………………………………………………………………………………...33 Corporate Governance Statement......................................................................................... 50 Directors' declaration............................................................................................................. 51 Auditor’s Independence Declaration...................................................................................... 52 Independent Auditor’s Report................................................................................................ 53 Consolidated Statement of Profit or Loss and Other Comprehensive Income....................... 57 Consolidated Statement of Financial Position ....................................................................... 58 Consolidated Statement of Changes in Equity ...................................................................... 59 Consolidated Statement of Cash Flows................................................................................. 60 Notes to the consolidated financial statements...................................................................... 61 Consolidated Entity Disclosure Statement............................................................................. 90 Additional ASX Shareholder Information ............................................................................... 91 Corporate Directory ............................................................................................................. 101 Chairman’s Letter 2 0 2 6 A N N U A L R E P O R T 3 Dear Shareholder, The past twelve months have been transformative for Horizon Gold. What began the period as a well- resourced exploration and development company has emerged as an execution-ready gold developer with a clear and credible path to becoming one of Western Australia's next gold producers. I am pleased to take this opportunity to reflect on what has been achieved and to outline the road ahead. The defining milestone was the completion and release of the Gum Creek Definitive Feasibility Study (DFS) in July 2026. The DFS confirmed Gum Creek as a robust, stand-alone 2.4Mtpa carbon-in-leach processing operation, targeting 880,000 ounces of recovered gold over a ten year mine life, with average annual production of 98,000 ounces across the first five years. At a gold price of A$5,500 per ounce, and an all-in sustaining cost of A$2,995 per ounce the Project the Project is forecast to generate approximately A$1.8 billion in cashflow, against pre-production capital of approximately A$350 million with a payback period of just 23 months. These are metrics that position Gum Creek among the most attractive undeveloped gold projects in Australia. The Board was sufficiently satisfied with the DFS outcomes to approve advancement of the Project toward a Final Investment Decision, targeted for Q2 2027, with first gold production planned for the second half of 2028. Alongside the feasibility work, our exploration program has been exceptional. We are in the process of completing an 80,000 metre campaign that has materially expanded our understanding of the Project's long term potential. Our exploration results continue to demonstrate that our 2.3 million ounce Mineral Resource which is spread across 80 kilometres of continuous, prospective strike carries substantial upside beyond that included in the current ten year mine plan. On behalf of the Board, I thank our management team for their extraordinary effort in delivering the DFS and advancing the Project with such discipline and pace. I also thank our shareholders for your continued confidence in what we are building at Gum Creek. The foundations are in place. The path is clear. We look forward to delivering on the significant potential of this Project. Yours sincerely Peter Sullivan Chairman Review of Operations 2 0 2 6 A N N U A L R E P O R T 4 Horizon Gold Limited (ASX:HRN) (Horizon or the Company) has continued to progress its exploration and development activities at the 100%-owned Gum Creek Gold Project (Gum Creek or the Project) located in a world class gold province within the Yilgarn Craton in Western Australia. Gum Creek has historically produced more than 1 million ounces of gold and hosts a current gold resource of 2.3 million ounces. The Project covers more than 640km2 of contiguous tenure over the Gum Creek greenstone belt located within a well-endowed gold region that hosts multimillion-ounce resources at Mt Magnet, Meekatharra, Wiluna, Bellevue and now at Gum Creek (Figure 1). The Project, which contains 37 open pit and three underground gold mines, presents a compelling development opportunity alongside substantial brownfields and greenfields exploration upside across 80 kilometres of continuous, prospective strike. Notably, all existing resources and the majority of high- priority target areas are situated on granted Mining Leases. The July 2026 Gum Creek Definitive Feasibility Study confirmed that near-surface, open-pittable gold resources deliver compelling economics when processed at 2.4Mtpa through a new plant at the historical Gidgee Mill site. The Project returns are materially enhanced by the substantial brownfields infrastructure already in place, including a 50 person accommodation village, an operational airstrip, an extensive haul road network, existing waste rock dumps, and a large tailings storage facility. Figure 1: Gum Creek Gold Project showing surrounding mines and gold deposits over simplified geology. Review of Operations 2 0 2 6 A N N U A L R E P O R T 5 Project History Gold was first discovered in the area at Jonesville (now part of the Swan deposit) in 1926, with the first recorded gold production in 1931. More modern mining operations commenced in the 1980’s and ceased in 2005 when the gold price was approximately A$560/oz. At that time, more than one million ounces of gold had been produced from approximately forty open pits and three underground mines, with the main gold-producing areas being Swan-Swift, Kingfisher and Omega. Developing the Gum Creek Gold Project During the financial year a total of 119 Reverse Circulation (RC) holes (10,779m), 24 water bores (2,700m), and 22 Diamond Drillholes (10,639.8m) were drilled to infill and test the extensions to known gold mineralisation at high-priority resource targets. The programs confirmed historic drill results and increased the resource confidence levels within each of the resource models across 14 prospects. The Gum Creek Gold Project Mineral Resource Estimate (MRE) was updated in November 2025 to 37.97Mt @ 1.89g/t Au for 2.30Moz (Table 1, Figure 2) reported in accordance with the JORC Code (2012 Edition). This represented an 8% increase in total ounces and a 26% increase in gold grade when compared with the May 2023 MRE. The Indicated gold resource is 26.72Mt @ 1.90g/t Au for 1.63Moz representing a 21% increase in ounces and 71% of the total MRE ounces. The MRE includes a free milling gold resource of 28.64Mt @ 1.74g/t Au for 1.60Moz. representing 70% of the total MRE ounces. Table 1: Gum Creek Gold Resources as at 4 November 2025 Resource Resource Date Cut-off grade (g/t Au) Indicated Inferred Total Tonnes Au (g/t) Gold (oz) Tonnes Au (g/t) Gold (oz) Tonnes Au (g/t) Gold (oz) Swan/Swift OC Nov-25 0.4 6,661,000 1.86 399,000 335,000 1.54 16,600 6,996,000 1.85 415,600 Swan UG* Nov-25 1.5 935,000 4.45 133,700 798,000 3.90 100,000 1,733,000 4.19 233,700 Swift UG* Nov-25 1.5 35,000 2.22 2,500 813,000 2.54 66,300 848,000 2.52 68,800 Wilsons UG* Nov-25 1.5 2,759,000 4.37 387,400 126,000 3.16 12,800 2,885,000 4.31 400,200 Howards Nov-25 0.4 6,095,000 1.13 221,800 751,000 0.97 23,500 6,846,000 1.11 245,300 Kingfisher OC Nov-25 0.6 1,139,000 2.05 75,100 79,000 1.50 3,800 1,218,000 2.01 78,900 Kingfisher UG* Nov-25 1.5 94,000 2.71 8,200 949,000 3.45 105,300 1,043,000 3.38 113,500 Heron May-23 0.6 330,000 2.11 22,400 1,822,000 1.51 88,200 2,152,000 1.60 110,600 Eagle Nov-25 0.4 817,000 1.27 33,400 1,202,000 1.29 50,000 2,019,000 1.28 83,400 Heron South May-23 0.8 720,000 1.79 41,400 761,000 1.53 37,500 1,481,000 1.66 78,900 Shiraz Nov-25 0.4 1,947,000 1.04 65,400 372,000 0.94 11,200 2,319,000 1.03 76,600 Wyooda** Nov-25 0.8 557,000 1.54 27,500 718,000 1.56 36,100 1,275,000 1.55 63,600 Snook Jul-22 0.8 75,000 2.57 6,200 846,000 1.76 47,800 921,000 1.82 54,000 Toedter Nov-25 0.6 905,000 1.31 38,200 99,000 1.32 4,200 1,004,000 1.31 42,400 Hawk Nov-25 0.6 591,000 1.38 26,200 167,000 1.27 6,800 758,000 1.35 33,000 Specimen Well Nov-25 0.6 431,000 1.49 20,600 114,000 1.31 4,800 545,000 1.45 25,400 Wedge Nov-25 0.6 427,000 1.42 19,500 56,000 2.83 5,100 483,000 1.58 24,600 Camel Bore Jul-22 0.8 379,000 1.47 17,900 100,000 1.21 3,900 479,000 1.42 21,800 Melbourne Bitter Nov-25 0.6 318,000 1.46 14,900 157,000 1.27 6,400 475,000 1.39 21,300 Hyperno-Reliance Nov-25 0.6 295,000 1.52 14,400 183,000 1.02 6,000 478,000 1.33 20,400 Kearrys May-23 0.6 450,000 1.24 18,000 46,000 1.35 2,000 496,000 1.25 20,000 Psi Jul-22 0.8 100,000 2.08 6,700 226,000 1.69 12,300 326,000 1.81 19,000 Deep South Reliance Nov-25 0.6 229,000 1.53 11,300 17,000 0.91 500 246,000 1.49 11,800 Orion Jul-22 0.8 69,000 1.49 3,300 182,000 1.40 8,200 251,000 1.43 11,500 Eagles Peak May-23 0.6 264,000 1.19 10,100 41,000 0.99 1,300 305,000 1.16 11,400 Wahoo Jul-22 0.8 - - - 258,000 1.25 10,400 258,000 1.25 10,400 Fangio May-23 0.6 99,000 1.32 4,200 30,000 1.35 1,300 129,000 1.33 5,500 Total 26,721,000 1.90 1,629,300 11,248,000 1.86 672,300 37,969,000 1.89 2,301,600 Review of Operations 2 0 2 6 A N N U A L R E P O R T 6 * Cut-off grades for Swan, Swift, Wilsons and Kingfisher underground Indicated and Inferred are 1.5g/t Au. ** Wyooda includes the Kingston Town, Think Big and Manikato resources which are within 600m and 200m of each other respectively. Note: Figures have been rounded. The information in this report that relates to the reporting of the Kingston Town, Manikato, Snook, Camel Bore, Psi, Orion, and Wahoo Mineral Resources has been extracted from the Horizon Gold Limited ASX announcement titled “32% Increase in Resources at Gum Creek Gold Project” dated 25 July 2022 and is available to view on https://horizongold.com.au. The information in this report that relates to the reporting of the Heron, Heron South, Kearrys, Eagles Peak and Fangio Mineral Resources has been extracted from the Horizon Gold Limited ASX announcement titled “19% Increase in Gold Resources at Gum Creek Project” dated 15 May 2023 and is available to view on https://horizongold.com.au. Figure 2: Gum Creek Gold Project Mineral Resources, Advanced Mineral Resource Targets and Exploration Targets over simplified geology Review of Operations 2 0 2 6 A N N U A L R E P O R T 7 Table 2: Gum Creek Mineral Resources by Material Type as at 4 November 2025 Material Type Indicated Inferred Total Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Oxide 7,137,000 1.41 323,000 2,217,000 1.30 92,800 9,354,000 1.38 415,800 Transition 5,424,000 1.57 273,300 2,184,000 1.46 102,700 7,608,000 1.54 376,000 Fresh 14,160,000 2.27 1,033,000 6,847,000 2.17 476,800 21,007,000 2.24 1,509,800 Total 26,721,000 1.90 1,629,300 11,248,000 1.86 672,300 37,969,000 1.89 2,301,600 Note: Figures have been rounded. Table 3: Gum Creek Mineral Resources by Metallurgical Category as at 4 November 2025 Material Type Indicated Inferred Total Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Free Milling 21,229,000 1.65 1,126,600 7,408,000 2.00 477,000 28,637,000 1.74 1,603,600 Refractory 5,492,000 2.85 502,700 3,840,000 1.58 195,300 9,332,000 2.33 698,000 Total 26,721,000 1.90 1,629,300 11,248,000 1.86 672,300 37,969,000 1.89 2,301,600 Notes: Figures have been rounded. Metallurgical test work indicates oxide mineralisation at all deposits is free milling, transition mineralisation from Swan/Swift, Howards, Kingfisher, Eagle, Kingston Town, Think Big, Hawk, Toedter, Wedge, Specimen Well, Kearrys, Hyperno-Reliance, Melbourne Bitter, Deep South Reliance, Eagles Peak, Orion, Wahoo, and Fangio is free milling, and fresh mineralisation from Swan/Swift, Howards, Kingfisher, Eagle, Hawk, Toedter, Wedge, Hyperno-Reliance, Melbourne Bitter, Deep South Reliance, Eagles Peak, Orion, and Wahoo is free milling. Due to the presence of pyrrhotite affecting oxygen and cyanide consumption, transition mineralisation from Psi and fresh material from Psi, Kearrys and Fangio has variable gold recoveries >85% and are classified as “low recovery ore” however this ore has been included in the free milling category. Transition mineralisation from Wilsons, Heron, Shiraz, Manikato, Heron South, Snook, and Camel Bore, and fresh mineralisation from Wilsons, Heron, Shiraz, Kingston Town, Manikato, Think Big, Heron South, Snook, Camel Bore and Specimen Well have variable gold recoveries associated with arsenopyrite and are classified as refractory. Subsequent to the end of the financial year, the Company completed a DFS encompassing the recommencement of gold production from near surface, free milling, open pittable gold resources at the Gum Creek Gold Project. The Open Pit DFS confirms Gum Creek's potential to become Western Australia’s next major gold project development, underpinned by low operating costs, a high-margin production profile and strong growth potential from extensive underground mining opportunities and sulphide ore deposits which currently sit outside the DFS scope. The Project has significant upside including excellent potential to increase the current 10-year Gum Creek DFS mine life through further resource expansion drilling and underground mining studies. Economic evaluations on the Swan/Swift, Kingfisher, Omega and Wilsons underground deposits are ongoing, whilst drilling at an additional 11 open pittable resource areas not included in the DFS will likely elevate these areas to an economically viable status, further improving the financial outcomes of the Gum Creek Gold Project. The DFS, which was undertaken by an integrated Horizon and MineScope Services project delivery team, provides a comprehensive estimate of production, capital and operating costs and a detailed schedule for the engineering, procurement, construction, commissioning and ramp-up of a 2.4Mtpa gold mining and processing facility at the Gum Creek Gold Project. Review of Operations 2 0 2 6 A N N U A L R E P O R T 8 It has assessed the technical, financial and environmental viability of the Project, which delivers a Production Target of 25.1Mt at 1.19 g/t Au for 962koz1 which is underpinned by a maiden Ore Reserve of 18.2Mt at 1.24 g/t Au for 728koz of contained gold reported in accordance with the 2012 edition of Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). It is anticipated the Project will deliver an average gold production of 88koz per annum over an initial 10-year mine life, peaking at 114koz per annum in year two, and delivering a total of 880koz gold recovered over the Life of Mine (LOM) with an AISC of A$2,995/oz. The DFS confirms that mining and processing at Gum Creek is technically, economically, and environmentally viable at an average rate of 2.4Mtpa with supporting infrastructure. A summary of key Project results and financial metrics is shown in Table 4. 1 Refer to Horizon Gold Limited ASX Announcement titled “Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development” dated 22 July 2026. Review of Operations 2 0 2 6 A N N U A L R E P O R T 9 Table 4: Key Project Results and Financial Metrics Key Financial Indicator Unit A$5,500/oz (Base Case) Life of Mine (LOM) Years 10.0 Ore Mined (LOM) Mt 25.1 Strip Ratio (LOM) x 9.6 Gold Produced (LOM) koz 880.1 Mill Throughput (Average) Mt / year 2.4 Average Feed Grade (LOM) g/t 1.19 Plant Recovery (LOM) % 91.5 Gold Produced (Average) koz / year 88.0 Gold Sales Revenue (LOM) A$m 4,841 EBITDA (LOM) A$m 2,268 Free Cash Flow - Pre-tax (LOM) A$m 1,854 NPV5 (Pre-tax) A$m 1,307 IRR (Pre-tax) % 53.1 Payback (Pre-tax) Months 23 NPV5 (Post-tax) A$m 894 IRR (Post-tax) % 41.7 Pre-production Capital A$m 350 All-in Sustaining Cost (LOM) A$/oz 2,995 Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 0 Based on the compelling DFS outcomes, the Horizon Board has endorsed the DFS and intends to proceed with various Project activities including:  Upgrade the existing camp to its previous capacity (>100 persons);  Completion of the Project approvals pathway aimed at allowing FID in Q2 2027;  Progress detailed engineering and design;  Early contractor involvement (ECI) with Engineering, Procurement, and Construction (EPC) contractors;  Accelerate Horizon team appointments;  Advance major supply tenders; and  Progress activities to support the Project execution schedule. Working closely with its financial advisor, the Company will seek to arrange appropriate project finance for the Project. The production target profile and attractive financial outcomes of the DFS are expected to support project financing interest and capacity. The Company will consider a Final Investment Decision (FID) in parallel with Project financing and regulatory approvals. Plant construction activities are expected to commence at Gum Creek in Q4 2027 subject to receipt of required environmental approvals and the completion of Project implementation activities, which will significantly de-risk construction. Based on an estimated 12-month construction period, first gold at Gum Creek is expected in H2 2028. Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 1 Mineral Resources, Maiden Ore Reserve and Life of Mine Production Target A summary of the Mineral Resources2 , Maiden Ore Reserve and Life of Mine Production Target used as the basis for the DFS is outlined in Table 5 and Figure 3. Table 5: Mineral Resources, Maiden Ore Reserve and Production Target Explanatory Notes: 1. Mineral Resources reported are inclusive of Open Pit Ore Reserves; 2. The Mineral Resources and Ore Reserve estimate underpinning the Production Target in this announcement have been prepared by competent persons in accordance with the requirements of the JORC Code (2012); 3. Tonnes are reported as million tonnes (Mt) and rounded to the nearest 100,000; grade reported in grams per tonne (g/t) rounded to the nearest tenth; gold (Au) ounces are reported as thousands rounded to the nearest 1,000; 4. The total LOM Production Target is underpinned by 18% Indicated Resource ounces, 6% Inferred Resource ounces, and the remaining 76% is underpinned by Probable Ore Reserves; 5. Mineral Resources are reported at a 0.4 g/t Au to 0.8 g/t Au lower cut-off for Open Pit and 1.5 g/t Au for Underground and are inclusive of Ore Reserves; 6. Ore Reserves are reported using a A$4,500 gold price basis for cut-off grade calculations; and 7. Refer to Definitive Feasibility Study – Executive Summary, Appendix 2 – JORC Table 1 Section 3 & 4 for individual deposit cutoffs3 . Ore Reserve Estimate The maiden Open Pit Ore Reserve Estimate for the Gum Creek Gold Project as at 22 July 2026 is 18.2 Mt at 1.24 g/t Au for 728,400 oz of contained gold, all classified as Probable, across the seven open pit “Priority” deposits set out below. The Ore Reserve was estimated by Auralia Mining Consulting Pty Ltd 2 Refer to Horizon Gold Ltd ASX announcement titled “Gum Creek Project Gold Resource Update” dated 4 November 2025 3 Refer to Horizon Gold Limited ASX Announcement titled “Gum Creek Open Pit DFS Confirms Pathway for WA’s Next Major Gold Mine Development” dated 22 July 2026. Classification Cut-off (g/t)1 Tonnes (Mt) Grade (g/t) Au Metal (koz) Mineral Resources Indicated Various 26.7 1.90 1,629 Inferred Various 11.3 1.86 672 Total Various 38.0 1.89 2,301 Open Pit Ore Reserves Probable Various 18.2 1.24 728 Total Various 18.2 1.24 728 Open Pit Production Target Indicated Various 23.2 1.21 905 Inferred Various 1.9 0.94 57 Total Various 25.1 1.19 962 Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 2 and is reported in accordance with the JORC Code (2012). The November 2025 Mineral Resource Estimate of 37.97 Mt at 1.89 g/t Au for 2.30 Moz4 is reported inclusive of the Ore Reserve. A summary of the Maiden Open Pit Ore Reserve is presented in Table 6. Table 6: Maiden Open Pit Ore Reserve Note: Figures have been rounded. 4 Refer to Horizon Gold Ltd ASX announcement titled “Gum Creek Project Gold Resource Update” dated 4 November 2025 Deposit Classification Ore Tonnes (Mt) Grade (g/t) Au Metal (koz) Eagle Probable 0.8 0.99 25 Hawk Probable 0.7 1.07 25 Howards Probable 5.8 0.99 186 Hyperno-Reliance Probable 0.3 1.23 12 Kingfisher Probable 1.5 1.51 71 Swan/Swift Probable 8.6 1.42 392 Wedge Probable 0.5 1.04 18 Total Probable 18.2 1.24 728 Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 3 Figure 3: Gum Creek Gold Project Open Pit Feasibility Study mineral resources over regional geology. Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 4 Exploration Results Howards The Howards Prospect is located ~27km southeast of the historic Gidgee mill (Figure 2). The current MRE for Howards is 6.85Mt @ 1.11g/t Au for 245,300oz (Table 1). The Company completed 3 RC holes for 483m including 2 monitoring bores and one dewatering bore at Howards. The holes were drilled into areas of estimated high water flows and all 3 holes were used for sub-terranean fauna sampling. Drilling successfully intercepted water at approximately 10m and returned the following significant gold intercepts (Figure 4):  72m @ 2.26g/t Au from 18m including 18m @ 5.09g/t Au from 27m (HWWB001)  23m @ 1.23g/t Au from 99m including 3m @ 3.31g/t Au from 112m (HWWB001)  39m @ 4.58g/t Au from 133m including 17m @ 9.86g/t Au from 148m (HWWB001)  124m @ 1.27g/t Au from 7m including 16m @ 2.97g/t Au from 88m (HWWB002)  80m @ 1.08g/t Au from 18m including 10m @ 2.12g/t Au from 83m (HWWB003)  38m @ 4.02g/t Au from 112m including 21m @ 6.08g/t Au from 121m (HWWB003) Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 5 Figure 4: Howards Prospect drill hole location plan showing A$4500/oz pit design, recent drill collars (black) and recent gold intercepts (labelled) over interpreted geology. The results from the water bore drilling have confirmed historic drilling results, provided valuable continuity of mineralisation information within the tested prospects, and have increased the resource confidence levels within the resource model. Kingfisher The Kingfisher prospect is located 3.5km south-southeast of the Gidgee Mill and hosts a current open cut MRE of 1.22Mt @ 2.01g/t Au for 78,900oz and an underground MRE of 1.04Mt @ 3.38g/t Au for 113,500oz (Table 1). The Company completed seven diamond holes including one daughter hole at the Kingfisher prospect for a total of 3,745.2m. The program aimed to test high-priority targets down plunge of previous high grade drill intercepts including 15m @ 28.5g/t Au from 346m and 10m @ 8.9g/t Au from 190m. Several significant intercepts were returned (Figure 5) including: Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 6  4m @ 11.35g/t Au from 431m including 1m @ 42.2g/t Au from 432m (KFDD003)  3m @ 2.79g/t Au from 350m (KFDD003)  18m @ 1.09g/t Au from 469m including 10m @ 1.57g/t Au from 473m (KFDD003)  5m @ 1.59g/t Au from 529m including 2m @ 3.51g/t Au from 529m (KFDD005)  5m @ 2.42g/t Au from 338m including 3m @ 3.56g/t from 338m (KFDD006)  4m @ 2.37g/t Au from 407m including 1m @ 8.09g/t Au from 408m (KFDD006)  16m @ 1.17g/t Au from 431m including 4m @ 2.64g/t Au from 438m (KFDD007) Figure 5: Kingfisher Prospect long section showing interpreted high-grade gold shoots, intercept pierce points (coloured by GxM), recent drilling intercepts >7 GxM (labelled), and historic unmined drilling intercepts >30 GxM (labelled). The program has confirmed the geological model by identifying additional high-grade intercepts including 4m @ 11.4g/t Au from 431m within the lower part of the central gold shoot; by defining the southern / lower margin of the central shoot; and by discovering a third shoot approximately 150m down plunge to the north in hole KFDD007 (including 4m @ 2.6g/t Au from 438m) (Figure 5). KFDD007 successfully intersected sheared, quartz-veined, strongly sericite–carbonate–fuchsite altered volcaniclastic schist units between 423m and 456m, confirming the presence of a third broad mineralised alteration zone. This newly defined shoot has the potential to contribute significant additional ounces to the Kingfisher gold resource. Deep diamond drilling is currently testing the extent of the newly discovered mineralised shoot to the north with eight holes completed for 4,828m. Diamond drilling is also focusing on increasing resource confidence (inferred to indicated) within the upper and central high-grade shoots. All results are pending. Five RC water bores were also drilled at the Kingfisher Prospect (Figure 6) for 608m including 2 monitoring bores and one troglofauna sampling bore. Drilling successfully intercepted water at approximately 38m and returned 6m @ 1.37g/t Au from 21m including 2m @ 3.72g/t Au from 22m Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 7 from hole KFWB002. KFWB002 was the only water bore drilled in the vicinity of known gold mineralisation. Figure 6: Kingfisher Prospect drill hole location plan showing water bore collars (blue) and gold intercepts >3 GxM (labelled) over satellite image. Omega The Omega prospect is located 44km north of the Gidgee Mill. The deposit has been mined historically by open cut and underground mining methods over a combined strike length of ~400m. There is no current MRE for Omega. During the period the Company completed four diamond holes at Omega for a total of 1,725.2m. The program aimed to test for extensions to high-grade mineralisation beneath impressive previous drill intercepts including 30m @ 21.1g/t Au from 57m and 13m @ 10.8g/t Au from 122m. Assays received from the four holes have confirmed the continuity of the Banded Iron Formation (BIF - host rock to gold Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 8 mineralisation), extended the high-grade gold mineralisation down plunge beneath the existing workings by over 120m and provided critical information about the controls on gold mineralisation at the prospect. Numerous significant intercepts were returned (Figure 7) including:  17m @ 1.40g/t Au from 315m including 5m @ 3.81g/t Au from 325m (OMDD001)  14m @ 2.87g/t Au from 337m including 8m @ 4.60g/t Au from 342m (OMDD001)  16m @ 1.30g/t Au from 336m including 2m @ 2.28g/t Au from 349m (OMDD002A)  1m @ 5.46g/t Au from 359m (OMDD002A)  20m @ 0.93g/t Au from 325m including 1m @ 5.35g/t Au from 334m (OMDD003)  10m @ 1.70g/t Au from 360m including 5m @ 2.69g/t Au from 363m (OMDD003)  8m @ 1.60g/t Au from 373m including 4m @ 2.49g/t Au from 376m (OMDD003)  11m @ 1.57g/t Au from 371m including 5m @ 3.07g/t Au from 374m (OMDD004) Figure 7: Omega Prospect long section showing historic open pits, underground infrastructure, gold intercept GxM pierce points with recent drilling intercepts >5 GxM and historic unmined drilling intercepts >30 GxM labelled. A detailed structural analysis of the diamond core is underway along with wireframing the gold mineralisation prior to resource estimation work and the planning of further infill and extensional diamond drilling. Review of Operations 2 0 2 6 A N N U A L R E P O R T 1 9 Goldfinch Prospect During the year the Company completed 32 RC holes for 2,510m at the Goldfinch Prospect located 2km south-southeast of the old Gidgee Mill. Drilling returned the following significant gold intercepts (Figure 8):  11m @ 3.18g/t Au from 84m including 5m @ 6.41g/t Au from 85m (GFRC029)  7m @ 3.63g/t Au from 35m including 1m @ 22.4g/t Au from 36m (GFRC007)  11m @ 2.21g/t Au from 70m including 4m @ 4.52g/t Au from 72m (GFRC021)  15m @ 1.55g/t Au from 24m including 6m @ 2.10g/t Au from 28m (GFRC015)  18m @ 1.05g/t Au from 83m (GFRC031)  3m @ 5.11g/t Au from 73m (GFRC030)  2m @ 7.39g/t Au from 4m (GFRC003)  10m @ 1.06g/t Au from 75m including 3m @ 2.94g/t Au from 78m (GFRC017)  5m @ 2.09g/t Au from 6m including 1m @ 6.24g/t Au from 10m (GFRC028)  4m @ 2.60g/t Au from 29m including 2m @ 4.58g/t Au from 29m (GFRC019)  4m @ 6.19g/t Au from 75m to EOH (GFRC032) Figure 8: Goldfinch and Toucan Prospects drill hole location plan showing historic holes coloured by max. downhole gold, and recent drill hole traces (white) and selected recent gold intercepts >2.5 GxM labelled over satellite image. Review of Operations 2 0 2 6 A N N U A L R E P O R T 2 0 Assay results confirmed previously identified shallow gold mineralisation striking north-northwest and dipping moderately to the southwest. Additional drilling along strike to the north and down dip is required. Geological wireframing has been completed ahead of planning deeper drilling and the estimation of a maiden MRE for the prospect. Toucan Prospect Eight RC holes for 650m were drilled at the Toucan Prospect located 2.6km southeast of the old Gidgee Mill. Drilling returned a best intercept of 1m @ 2.57g/t Au from 32m (TORC003) and failed to confirm northern or southern extensions to gold mineralisation (Figure 8). No further drilling is warranted. Swift/Shrike/Vigilant Prospects The Swan/Swift Open Cut Mineral Resource which includes the Swift, Shrike and Vigilant Prospects, is located ~1.0km east of the historic Gidgee mill (Figure 2). The current Swan/Swift open cut MRE is 7.0Mt @ 1.85g/t Au for 415,60