Announcement PDF ASX RELEASE 28 JULY 2025 QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 30 JUNE 2025 Key Points  37 RC holes for 2,918m drilled to complete the 13,183m program aimed at upgrading the resource confidence across the Project’s 2.14 million ounce gold resource and testing the extension of high priority targets.  Gold assays for all holes were received and reported during the quarter, returning numerous significant intercepts including: Swan/Swift Prospects:    22m @ 3.18g/t Au from 2m including 5m @ 9.71g/t Au from 10m 10m @ 4.47g/t Au from 74m including 5m @ 7.74g/t Au from 76m 10m @ 3.55g/t Au from 18m including 3m @ 11.18g/t Au from 18m Howards Prospect:   28m @ 3.88g/t Au from 74m including 12m @ 8.19g/t Au from 77m 38m @ 1.25g/t Au from 48m including 13m @ 2.06g/t Au from 60m Eagle Prospect:   14m @ 4.34g/t Au from 24m including 3m @ 18.66g/t Au from 32m 15m @ 2.15g/t Au from 47m including 3m @ 8.47g/t Au from 54m Reliance and South Reliance Prospects:   11m @ 6.90g/t Au from 27m including 3m @ 22.60g/t Au from 28m 16m @ 4.35g/t Au from 32m including 5m @ 12.88g/t Au from 32m Hawk Prospect:   7m @ 7.21g/t Au from 123m including 1m @ 44.50g/t Au from 128m (core) 14m @ 2.29g/t Au from 34m including 7m @ 3.85g/t Au from 37m Shiraz Prospect:    26m @ 1.18g/t Au from 30m including 8m @ 2.04g/t Au from 41m 26m @ 1.02g/t Au from 63m including 8m @ 2.06g/t Au from 70m (core) Work on the Gum Creek Feasibility Study remains on schedule for completion early in 2026, with geotechnical studies and metallurgical test work being finalised, and environmental surveying, mine design work, heritage evaluation work and water management test work advancing well. Firm commitments received from leading institutional and high net worth investors to raise A$5 million at A$0.48 under a Placement, and 1-for-10 Non-renounceable Entitlement Offer announced to raise approximately A$7.0 million at A$0.48. ________________________________________________________________________________  1 Horizon Gold Limited ACN: 614 175 923 Suite 8, Level 3, 47 Havelock Street, West Perth WA 6005 | PO Box 39, West Perth WA 6872 Telephone: +61 8 6331 6092 | Email: info@horizongold.com.au | Website: www.horizongold.com.au Horizon Gold Limited (ASX: HRN) (Horizon or the Company) is focussed on progressing its exploration and development activities at the 100%-owned Gum Creek Gold Project (Gum Creek or the Project) located in the Mid-West Region of Western Australia (Figure 1). Gum Creek has historically produced more than 1 million ounces of gold and currently hosts a gold resource of 44.45Mt @ 1.50g/t Au for 2.14 million ounces 1. The Project currently covers 524km2 of granted tenure over the highly prospective and underexplored Gum Creek greenstone belt, which contains 37 open pit and three underground gold mines. During the quarter 37 RC holes for 2,918m were drilled at the Swan, Eagle, Hawk, Melbourne Bitter, Specimen Well, and Toedter prospects completing the 13,183m program aimed at upgrading resource confidence levels and testing the extension of high priority resource targets. Final gold assays for all holes were received during the quarter. The program has confirmed historic drill results and will further increase the resource confidence levels within each of the resource models. In addition, downhole televiewer work completed at 12 prospects during the quarter will supplement the structural and geotechnical information obtained from diamond core logging and will help determine the most appropriate wall angles for pit optimisation and pit design work in the Feasibility Study (FS). Figure 1: Gum Creek Gold Project and surrounding gold resources and operating gold processing facilities. 1 Refer to Horizon Gold Limited ASX Announcement dated 15 May 2023 titled “19% Increase in Resources at Gum Creek Project”. 2 Swan/Swift/Shrike Prospects The Swan/Swift Mineral Resource which includes the Shrike Prospect, is located ~1.0km east of the historic Gidgee mill (Figure 1). The current Swan/Swift open cut Mineral Resource Estimate (MRE) is 12.7Mt @ 1.06g/t Au for 434,100oz (Table A). Geological and geotechnical logging was completed on the Swift diamond hole (SWDD001), and downhole televiewer surveying was undertaken for geotechnical purposes in one Swift and four Swan RC holes. Assay results from the 19 RC holes drilled at Swan (1,444m), 4 RC holes drilled at Shrike (231m) and one RC hole completed at Swift (131m) have confirmed and extended previously identified shallow gold mineralisation (Figures 2 - 4). Numerous significant >20 gram x metre intercepts were returned including:          22m @ 3.18g/t Au from 2m including 5m @ 9.71g/t Au from 10m (SBRC128) 30m @ 1.74g/t Au from 77m (SBRC133) 10m @ 4.47g/t Au from 74m including 5m @ 7.74g/t Au from 76m (SBRC134) 10m @ 3.55g/t Au from 18m including 3m @ 11.18g/t Au from 18m (SBRC141) 11m @ 2.95g/t Au from 22m including 4m @ 7.49g/t Au from 23m (SBRC143) 12m @ 2.46g/t Au from 113m including 2m @ 9.24g/t Au from 114m (SFRC001) 33m @ 0.88g/t Au from 86m including 17m @ 1.38g/t Au from 91m (SBRC141) 6m @ 3.88g/t Au from 27m (SBRC129) 19m @ 1.15g/t Au from 29m including 6m @ 2.01g/t Au from 39m (SBRC134) Wireframing of the Swan, Swift and Shrike gold mineralisation has been completed in preparation for updated mineral resource estimates. Figure 2: Swan/Swift drill hole plan showing $2900/oz optimised pit shell outline, recent drill collars (red) and recent gold intercepts >20 GxM (labelled) over satellite image. 3 Figure 3: Swan cross section showing mineralised zones including significant 2025 and historic RC intercepts. Figure 4: Swift cross section showing mineralised zones including significant 2025 and historic RC intercepts. 4 Howards Prospect The Howards Prospect is located ~27km southeast of the historic Gidgee mill (Figure 1). The current MRE for Howards is 10.2Mt @ 0.81g/t Au for 266,900oz (Table A). Geological and geotechnical logging was completed on the Howards diamond hole (HWDD0011), and downhole televiewer surveying was undertaken for geotechnical purposes on five RC holes. Assay results from 30 RC holes (2,463m) and one geotechnical diamond hole (185m) completed at the Howards Prospect confirmed the broad widths and grade of historic intercepts within northern and central lodes further increasing resource confidence levels at the prospect. Numerous >25 gram x metre gold intercepts were returned from the drill program (Figures 5 & 6), including:                 28m @ 3.88g/t Au from 74m including 12m @ 8.19g/t Au from 77m (HWRC293) 74m @ 0.88g/t Au from 18m including 8m @ 2.18g/t Au from 53m (HWRC300) 52m @ 0.93g/t Au from 88m including 8m @ 2.21g/t Au from 94m (HWRC301) 38m @ 1.25g/t Au from 48m including 13m @ 2.06g/t Au from 60m (HWRC297) 42m @ 1.11g/t Au from 82m including 10m @ 2.37g/t Au from 112m (HWRC298) 43m @ 0.95g/t Au from 1m including 5m @ 2.76g/t Au from 5m (HWRC299) 46m @ 0.78g/t Au from 24m including 3m @ 1.97g/t Au from 28m (HWRC296) 38m @ 0.89g/t Au from 6m including 11m @ 1.30g/t Au from 32m (HWRC289) 57m @ 0.54g/t Au from 3m (HWRC295) 27m @ 1.12g/t Au from 57m including 6m @ 2.05g/t Au from 60m (HWRC301) 34m @ 0.88g/t Au from 27m including 6m @ 1.62g/t Au from 30m (HWRC292) 25m @ 1.19g/t Au from 4m including 6m @ 2.10g/t Au from 11m (HWRC286) 27m @ 1.07g/t Au from 4m including 8m @ 2.36g/t Au from 15m (HWRC287) 25m @ 1.11g/t Au from 95m including 4m @ 3.94g/t Au from 106m (HWDD0011 - core) 28m @ 0.98g/t Au from 2m including 7m @ 2.15g/t Au from 19m (HWRC305) 13m @ 2.06g/t Au from 4m (HWRC281) Whilst additional extension drilling is warranted at Howards, an MRE update will be completed for FS purposes prior to further drilling. Wireframing of the Howards gold mineralisation has commenced in preparation for an updated MRE. 5 Figure 5: Howards Prospect drill hole location plan showing $2900/oz optimised pit shells outlined, recent drill hole traces (black) and recent gold intercepts >25 GxM (labelled) over interpreted geology. 6 Figure 6: Howards cross section showing mineralised envelope and significant 2025 RC intercepts (>7.5 GxM). Eagle Prospect The Eagle Prospect is located 1.2km southeast of the historic Gidgee mill (Figure 1). The current MRE for Eagle is 1.16Mt @ 1.85g/t Au for 68,800oz (Table A). Geological and geotechnical core logging was completed on the Eagle diamond hole and the collection and interpretation of televiewer surveys undertaken within three RC holes. Assay results from the diamond hole (179m) and 14 RC holes (1,212m) confirmed and extended previously identified shallow gold mineralisation along strike to the north and south of the Eagle pit (Figures 7 & 8). Numerous significant intercepts were returned including:        14m @ 4.34g/t Au from 24m including 3m @ 18.66g/t Au from 32m (EARC022) 15m @ 2.15g/t Au from 47m including 3m @ 8.47g/t Au from 54m (EARC026) 1m @ 24.80g/t Au from 61m (EARC033) 5m @ 2.50g/t Au from 29m including 2m @ 5.76g/t Au from 31m (EARC028) 3m @ 3.77g/t Au from 23m (EARC020) 7m @ 1.60g/t Au from 46m (EARC029) 5m @ 2.19g/t Au from 104m to EOH (EARC023) Mineralisation remains open along strike to the north and south where further drilling is required. Wireframing of the Eagle gold mineralisation is underway in preparation for an updated mineral resource estimate. 7 Figure 7: Eagle drill hole plan showing $2900/oz optimised pit shell outline, recent drill holes (black) and recent gold intercepts >10 grams x metres over satellite image. Figure 8: Eagle cross section showing mineralised zones including significant 2025 RC intercepts. 8 Wedge Prospect The Wedge Prospect is located 2km northeast of the historic Gidgee Mill (Figure 1) and hosts a current MRE of 487Kt @ 1.52g/t Au for 23,800 oz. (Table A). Geological and geotechnical core logging was completed on the Wedge diamond hole and the collection and interpretation of televiewer surveys undertaken on 2 Wedge RC holes. Assay results from 5 RC holes (882m) and 1 diamond hole (169.9m) have confirmed the continuation of the shallow south plunging high grade gold shoot that extends from the base of the Wedge open cut pit. Significant gold intercepts (>9.5 G x M) returned from the program (Figures 9 & 10) include:      10m @ 2.11g/t Au from 108m including 3m @ 4.75g/t Au from 111m (WEDD001) 6m @ 2.90g/t Au from 113m (WERC013) 5m @ 2.93g/t Au from 158m (WERC016) 10m @ 1.33g/t Au from 129m (WEDD001) 10m @ 0.99g/t Au from 121m including 3m @ 2.17g/t Au from 125m (WERC015) The program has extended the southern gold shoot further to the south where it remains open at depth. Further drilling is planned down plunge to the south, however an MRE update will be completed for FS purposes prior to further drilling. Figure 9: Wedge Prospect drill hole collars coloured by max. downhole gold, all recent gold intercepts >2.5 GxM labelled, and gold mineralisation projected to surface over satellite image. 9 Figure 10: Wedge Prospect long section showing gold shoots, intercept pierce points (coloured by GxM), 2025 drilling intercepts >2.5 GxM (labelled), and historic unmined drilling intercepts >40 GxM (labelled). Hyperno-Reliance and South Reliance Prospects The Hyperno-Reliance and South Reliance prospects are located 17km south-southeast of the historic Gidgee mill (Figure 1). The current MRE for Hyperno-Reliance is 0.45Mt @ 1.31g/t Au for 18,800oz (Table A). The current MRE for South Reliance / Deep South is 0.22Mt @ 1.62g/t Au for 11,700oz (Table A). Geological and geotechnical core logging and downhole televiewer surveying and interpretation for geotechnical purposes was completed on three Hyperno and two Reliance RC holes. Assay results from 2 HQ geotechnical diamond holes (155m) and 45 RC holes (2,461m) confirmed the average width and grades of shallow gold mineralisation identified in historic drilling at the Hyperno, Reliance and South Reliance prospects (Figures 11 to 14). Numerous significant intercepts were returned including:              11m @ 6.90g/t Au from 27m including 3m @ 22.60g/t Au from 28m (RERC020) 16m @ 4.35g/t Au from 32m including 5m @ 12.88g/t Au from 32m (SRRC005) 7m @ 5.01g/t Au from 37m including 1m @ 25.30g/t Au from 37m (RERC018) 8m @ 3.93g/t Au from 19m (RERC004) 10m @ 2.28g/t Au from 15m (RERC006) 18m @ 1.19g/t Au from 43m including 5m @ 2.83g/t Au from 43m (HYRC037) 5m @ 3.86g/t Au from 29m including 1m @ 14.95g/t Au from 31m (RERC017) 10m @ 1.89g/t Au from 32m including 4m @ 4.11g/t Au from 34m (HYRC052) 3m @ 4.11g/t Au from 8m (SRRC004) 7m @ 1.56g/t Au from 29m (HYRC044) 12m @ 0.91g/t Au from 28m (RERC013) 10m @ 1.06g/t Au from 39m including 4m @ 2.17g/t Au from 39m (SRRC002) 7m @ 1.43g/t Au from 52m including 3m @ 2.58g/t Au from 56m (HYRC038) Gold mineralisation remains open at depth and along strike to the north and south at all 3 prospects and further drilling is warranted. Wireframing of the Hyperno, Reliance and South Reliance gold mineralisation is underway in preparation for an updated mineral resource estimate. 10 Figure 11: Hyperno-Reliance-South Reliance drill hole collar plan coloured by max. downhole gold, $2900/oz optimised pit shell outline, and 2025 drilling intercepts >10 grams x metres over interpreted geology. Figure 12: Reliance Prospect cross section showing mineralised zones including significant 2025 RC intercepts. 11 Figure 13: Hyperno Prospect cross section showing mineralised zones including significant 2025 RC intercepts. Figure 14: South Reliance Prospect cross section showing mineralised zones including significant 2025 RC intercepts. Hawk Prospect The Hawk Prospect is located 5km south-southeast of the historic Gidgee mill (Figure 1) and was previously mined by open cut methods. The current MRE for Hawk is 0.85Mt @ 1.26g/t Au for 34,400oz (Table A). The Company drilled seven RC holes for 752m and one geotechnical diamond hole for 156.1m at the prospect. Geological and geotechnical logging was completed on one HQ geotechnical diamond hole (156.1m) and downhole televiewer surveying was undertaken for geotechnical purposes in one RC hole. Gold assays from seven RC holes (752m) and the diamond hole have confirmed the width and average grades of the surrounding previous drill holes (Figures 15 & 16) with significant intercepts returned including:   7m @ 7.21g/t Au from 123m including 1m @ 44.50g/t Au from 128m (HKDD001) (core) 14m @ 2.29g/t Au from 34m including 7m @ 3.85g/t Au from 37m (HKRC021) 12  2m @ 2.71 g/t from 36m (HKRC022) Additional drilling is required down dip, down plunge and along strike to the north and south at Hawk, however an MRE update will be completed for FS purposes prior to further drilling. Wireframing of the Hawk gold mineralisation has commenced. Figure 15: Hawk Prospect drill hole location plan showing $2900/oz optimised pit shells outlined, recent drill hole traces (black) and recent gold intercepts (labelled) over satellite image. 13 Figure 16: Hawks cross section showing mineralised envelope and all 2025 RC intercepts labelled. Shiraz Prospect The Shiraz Prospect is located 15km northeast of the Gidgee mill (Figure 1) and has previously been mined by open cut methods. The current MRE for the Shiraz deposit is 3.60Mt @ 0.68g/t Au for 78,900oz (Table A). The Company completed seventeen RC holes for 990m and one geotechnical diamond hole for 90.2m at the prospect (Figures 17 & 18). Geological and geotechnical logging was completed on one geotechnical diamond hole (90.2m) and downhole televiewer surveying undertaken for geotechnical purposes in three RC holes. Gold assays from the 17 RC holes (990m) and the diamond hole have confirmed and, in some instances, improved the width and average grades of the surrounding previous drill holes with numerous significant intercepts returned including:         26m @ 1.18g/t Au from 30m including 8m @ 2.04g/t Au from 41m (SHRC024) 26m @ 1.02g/t Au from 63m including 8m @ 2.06g/t Au from 70m (core) (SHDD001) 9m @ 2.77g/t Au from 13m including 3m @ 5.08g/t Au from 14m (SHRC012) 10m @ 2.36g/t Au from 26m including 1m @ 18.45g/t Au from 35m (SHRC025) 15m @ 1.45g/t Au from 16m including 8m @ 2.50g/t Au from 19m (SHRC020) 10m @ 1.57g/t Au from 14m including 3m @ 3.83g/t Au from 14m (SHRC023) 13m @ 1.05g/t Au from 27m (SHRC011) 11m @ 0.97g/t Au from 42m including 3m @ 2.30g/t Au from 47m (SHRC022) Whilst additional drilling is required at depth and along strike to the north and south at Shiraz, an updated MRE will be completed prior to further drilling. 14 Figure 17: Shiraz deposit long section showing MIK block model, gold intercept pierce points (coloured by Au grams x metres), significant 2025 drilling intercepts, and existing Shiraz open pit. Figure 18: Shiraz deposit cross section showing mineralised envelopes, 2025 significant RC drill intercepts, and A$2,800 optimised pit shell. 15 Melbourne Bitter Prospect The Melbourne Bitter Prospect is located 26km north of the Gidgee Mill. The prospect has not been previously mined and the current MRE for the deposit is 0.36Mt @ 1.44g/t Au for 16,800oz (Table A). Recent drilling at Melbourne Bitter included five RC holes for 428m and one geotechnical diamond hole for 130.7m (Figures 19 & 20). Geological and geotechnical core logging was completed on one HQ geotechnical diamond hole (130.7m), providing important structural information which has been used to interpret complex mineralised trends at the prospect. Assay results from 5 RC holes (428m) and the diamond hole confirmed previous shallow gold mineralisation identified in wider spaced historic RC drilling, and returned several gold intercepts including:     19m @ 1.39g/t Au from 42m including 8m @ 2.93g/t Au from 49m (MBRC042) 28m @ 0.72g/t from 21m including 4m @ 2.33 g/t from 21m (MBRC043) 2m @ 5.44g/t from 56m (MBDD001) 10m @ 1.00g/t from 0m including 2m @ 3.55 g/t from 8m (MBRC039) The drill program has further defined and extended the known gold mineralisation to the south where it remains open at depth and along strike. Further drilling is warranted along strike to the south, however an MRE update will be completed prior to further drilling. Figure 19: Melbourne Bitter Prospect drill hole collars coloured by max. downhole gold, all recent gold intercepts >10 GxM labelled, and gold mineralisation projected to surface over satellite image. 16 Figure 20: Melbourne Bitter cross section showing mineralised envelopes and significant 2025 RC intercepts. Toedter Prospect The Toedter Prospect is located 48km north-northwest of the Gidgee Mill (Figure 1) and hosts a current MRE of 0.69Mt @ 1.54g/t Au for 34,000oz (Table A). The Company completed twelve RC holes for 873m and one geotechnical diamond hole for 150.5m at the prospect (Figure 1). Geological and geotechnical core logging was completed on 1 HQ geotechnical diamond hole (150.5m) and downhole televiewer surveying was undertaken for geotechnical purposes in three RC holes. Gold results from 12 RC holes (873m) and the diamond hole have defined the up-dip extent of mineralisation along the western margin of the deposit (Figures 21 & 22) with two significant intercepts outlined:   15m @ 1.84g/t Au from 13m including 4m @ 5.79g/t Au from 13m (TDRC012) 13m @ 1.06g/t Au from 70m including 3m @ 2.99g/t Au from 73m (TDDD001) Mineralisation remains open along strike, down dip and down plunge with further drilling warranted down plunge to the south, however an MRE update will be completed prior to further drilling. 17 Figure 21: Toedter Prospect drill hole collars coloured by max. downhole gold, all recent significant gold intercepts, and gold mineralisation projected to surface over satellite image. Figure 22: Toedter Prospect cross section showing mineralised envelopes, significant 2025 RC intercepts and unmined historic drill intercepts. 18 Summary of Drilling Results from Additional Prospects The Snook Prospect is located 15 kilometres north of the Gidgee Mill and hosts a current MRE of 0.92Mt @ 1.82g/t Au for 54,000oz (Table A). Geological and geotechnical core logging was completed on 1 HQ geotechnical diamond hole (169.8m), and assay results returned a best result of 3m @ 5.21g/t Au from 53m (SKDD001) (Figure 23). No further drilling is planned at this stage. Figure 23: Snook Prospect drill hole collars coloured by max. downhole gold, gold mineralisation projected to surface, recent gold intercepts >2.5 grams x metres and historic unmined drill intercepts >40 grams x metres (labelled) over satellite image. The Eagles Peak South Prospect is located 15 kilometres north of the Gidgee Mill. Drilling results from 6 RC holes (452m) downgraded the prospectivity of the area, returning only one significant intercept of 5m @ 4.13g/t Au from 44m including 1m @ 18.05g/t Au from 46m (ESRC004) (Figure 24). Mineralisation remains open along strike, however at this stage no further drilling is planned. 19 Figure 24: Eagles Peak South Prospect drill hole collars, recent gold intercepts >1 gram x metres and historic drill intercepts >12 grams x meters(labelled) and gold mineralisation projected to surface over satellite image. The Think Big and Manikato prospects are located 20 kilometres south-southeast of the Gidgee Mill and form part of the Wyooda group of deposits which contain a current MRE of 1.29Mt @ 1.56g/t Au for 64,800oz (Table A). Geological and geotechnical core logging was completed on 1 HQ geotechnical diamond hole (70.0m) at Think Big, and downhole televiewer surveying was undertaken for geotechnical purposes in three RC holes. Gold assays from 12 RC holes (630m) drilled at Think Big and Manikato returned a best result of 9m @ 1.29g/t Au from 17m including 4m @ 2.07g/t Au from 21m (TBRC047) (Figure 25). Mineralisation remains open along strike and down dip with additional drilling warranted, however an MRE update will be completed prior to further drilling. 20 Figure 25: Wyooda Group drill hole collars coloured by max. downhole gold, all recent gold intercepts labelled, and gold mineralisation projected to surface over satellite image. The Kingfisher prospect is located 3.5km south-southeast of the Gidgee Mill and hosts a current open cut MRE of 0.89Mt @ 1.58g/t Au for 45,100oz and an underground MRE of 1.28Mt @ 3.31g/t Au for 135,700oz (Table A). Geological and geotechnical core logging was completed on 1 HQ geotechnical diamond hole (50m) and downhole televiewer surveying for geotechnical purposes was undertaken in one RC hole. Gold assays from 2 shallow RC holes (130m) and the diamond hole drilled at the southern end of the deposit returned a best intercept of 7m @ 1.03g/t Au from 41m (KFRC022). Future drilling will be focused on high grade plunging shoots at the northern end of the deposit, however an MRE update will be completed prior to any further drilling. The Heron South prospect is located 15km south-southeast of the Gidgee Mill and hosts a current open cut MRE of 1.48Mt @ 1.66g/t Au for 78,900oz (Table A). Geological and geotechnical core logging was completed on 1 HQ geotechnical diamond hole (180m) drilled through the centre of the deposit. Gold assays returned four narrow intercepts including 6m @ 1.07g/t Au from 139m (HSDD001). Mineralisation remains open at depth and along strike to the north and south, and further drilling is warranted, however an MRE update will be completed prior to any further drilling. The Specimen Well prospect is located 43.5km north-northwest of the Gidgee Mill and hosts a current open cut MRE of 0.53Mt @ 1.50g/t Au for 25,500oz (Table A). Geological and geotechnical core logging was completed on 1 HQ geotechnical diamond hole (125.1m) and downhole televiewer surveying was undertaken in one RC hole. Gold assays from 2 shallow RC holes (totalling 104m) and the diamond hole returned no intercepts greater than 2 gram x metres. Future drilling will be focused on high-grade gold shoots at the southern end of the deposit. 21 Feasibility Study Progress and Resource Expansion Drilling Work on the Gum Creek Feasibility Study remains on schedule for completion early in 2026, with geotechnical studies and metallurgical test work being finalised, whilst environmental surveys, mine design work, heritage evaluation work and water management test work all advancing well. Water bore drilling is also underway, and pump tests will commence in August 2025 prior to producing a site-wide water balance model. Further drilling, including resource expansion drilling at some of the 12 open pittable resource areas not included in the 2024 Scoping Study will be undertaken to further extend the potential mine life of the Gum Creek Gold Project. The Company is also planning additional drill testing at high-grade underground targets including Kingfisher and Omega, and looking at underground mining options to further advance the significant economic potential of the Project. The Company believes the Gum Creek Gold Project will be a robust, viable stand‐alone mining operation with the recent high gold prices only strengthening the March 2024 Scoping Study outcomes 2 and providing a high level of confidence for the current Feasibility Study outcomes. Corporate Funding In April 2025, the Company secured a short-term funding facility from Horizon’s major shareholder Zeta Resources Limited for $2,000,000. In summary the loan facility is unsecured, interest is payable at 10.35% per annum and is repayable no earlier than 31 December 2025. Only $500,000 of the facility had been drawn down at 30 June 2025. A further $500,000 was drawn down on the facility subsequent to quarter end. As at 30 June 2025, Horizon had a cash at hand balance of $503,000. Capital Raising Post Quarter End On the 21 July 2025 the Company announced an ~$12 million capital raising in the form of a private Placement of ~$5 million to institutional and high net worth investors and 1 for 10 Non-renounceable Entitlement Offer to existing shareholders, both capital raising initiatives to be undertaken at $0.48 per share. Zeta Resources Limited and the Directors of Horizon, intend to take up their entitlement in full for a combined amount of approximately A$5.5 million (representing 80% of the Entitlement Offer). Funds from the capital raising will be directed towards completion of the Company’s Feasibility Study, further exploration drilling, the repayment of debt and general working capital. Additional ASX Listing Rule Disclosures As required by ASX Listing Rule 5.3, the Company advises it spent $1,782,000 on exploration and evaluation activities during the quarter. The expenditure is predominantly related to costs associated with geotechnical diamond drilling, RC resource drilling, the Gum Creek Feasibility Study, and ongoing tenement rents and rates. There was no mining development or production activities conducted during the quarter. 2 Refer to Horizon Gold Limited ASX announcement titled “Compelling Gum Creek Scoping Study” dated 20 March 2024. 22 The total amount paid to directors of the entity and their related parties and associates (Section 6 of Appendix 5B) was $111,000, encompassing the Executive Director’s salary, Non-Executive Directors’ fees and associated superannuation, and $22,000 relating to geological drafting, database administration services and other services. Mining Tenements The status of the Company’s mining tenements as at 30 June 2025 are detailed in Appendix 1. This ASX announcement was authorised for release by the Horizon Board. For further information contact: Leigh Ryan Managing Director +61 8 6331 6092 Horizon Gold Limited Mineral Resources Table A: Gum Creek Gold Resources as at 15 May 2023 Cut-off grade (g/t Au) Resource Date Swan/Swift OC Swan UG Swift UG Wilsons UG Howards Kingfisher OC Kingfisher UG Heron Heron South Shiraz Eagle Wyooda Snook Hawk Toedter Specimen Well Wedge Camel Bore Kearrys Psi HypernoReliance Melbourne Bitter Deep South Reliance Eagles Peak Orion Wahoo Fangio Jul-22 Jul-22 Jul-22 Jul-13 May-23 May-23 May-23 May-23 May-23 May-23 May-23 Jul-22 Jul-22 May-23 Aug-16 May-23 May-23 Jul-22 May-23 Jul-22 0.4 2.5 / 3.0* 3.0 1.0 0.4 0.6 1.5 0.6 0.8 0.4 0.8 0.8 0.8 0.6 0.5 0.8 0.6 0.8 0.6 0.8 May-23 Total Indicated Au Tonnes Gold (oz) (g/t) 9,980,000 301,000 2,131,000 8,064,000 621,000 359,000 330,000 720,000 2,539,000 395,000 430,000 75,000 378,000 379,000 450,000 100,000 1.09 6.91 5.33 0.82 1.77 3.48 2.11 1.79 0.70 1.94 1.56 2.57 1.28 1.47 1.24 2.08 349,500 66,900 365,000 213,100 35,400 40,200 22,400 41,400 57,300 24,700 21,600 6,200 15,500 17,900 18,000 6,700 0.6 119,000 1.73 May-23 0.6 214,000 May-23 0.6 May-23 Jul-22 Jul-22 May-23 0.6 0.8 0.8 0.6 Inferred Au Tonnes Gold (oz) (g/t) Tonnes 434,100 118,500 25,400 391,000 266,900 45,100 135,700 110,600 78,900 78,900 68,800 64,800 54,000 34,400 34,000 25,500 23,800 21,800 20,000 19,000 445,000 1.31 18,800 6,100 362,000 1.44 16,800 1.56 2,400 224,000 1.62 11,700 0.99 1.40 1.25 1.35 1,300 8,200 10,400 1,300 305,000 251,000 258,000 129,000 1.16 1.43 1.25 1.33 11,400 11,500 10,400 5,500 0.96 7.10 5.72 5.95 0.78 1.12 3.24 1.51 1.53 0.63 1.80 1.56 1.76 1.25 1.54 1.50 1.52 1.21 1.35 1.69 84,600 51,600 25,400 26,000 53,800 9,700 95,500 88,200 37,500 21,600 44,100 43,200 47,800 18,900 34,000 25,500 23,800 3,900 2,000 12,300 12,715,000 527,000 138,000 2,267,000 10,200,000 890,000 1,276,000 2,152,000 1,481,000 3,603,000 1,159,000 1,292,000 921,000 849,000 689,000 529,000 487,000 479,000 496,000 326,000 6,600 326,000 1.16 12,200 1.56 10,700 148,000 1.28 176,000 1.64 9,300 48,000 264,000 69,000 99,000 1.19 1.49 1.32 10,100 3,300 4,200 41,000 182,000 258,000 30,000 1.48 1,346,000 16,257,000 Gold (oz) 1.06 6.99 5.72 5.36 0.81 1.58 3.31 1.60 1.66 0.68 1.85 1.56 1.82 1.26 1.54 1.50 1.52 1.42 1.25 1.81 2,735,000 226,000 138,000