Announcement PDF 4 November 2025 1 GUM CREEK PROJECT GOLD RESOURCE UPDATE HIGHLIGHTS  Updated Gum Creek Gold Project Mineral Resource Estimate (MRE) of 37.97Mt @ 1.89g/t Au for 2.30Moz represents an 8% increase in total ounces and a 26% increase in gold grade when compared with the May 2023 MRE.  Indicated gold resource is 26.72Mt @ 1.90g/t Au for 1.63Moz representing a 21% increase in Indicated ounces compared to the May 2023 MRE and now representing 71% of the total MRE.  Free milling portion of the resource estimate is 28.64Mt @ 1.74g/t Au for 1.60Moz, representing 70% of the total MRE ounces.  All resource areas are located on granted mining leases and remain open along strike or at depth showing strong potential for additional resource growth with further drilling.  Further drilling aimed at increasing the global MRE and demonstrating the outstanding potential of the underexplored Gum Creek greenstone belt is planned. Horizon Gold Limited (ASX:HRN) (Horizon, the Company) is pleased to announce a significant increase to the Company’s Mineral Resource Estimate (MRE) that includes updates to the Eagle, Deep South Reliance, Hawk, Howards, Hyperno-Reliance, Kingfisher, Melbourne Bitter, Shiraz, Specimen Well, Swan/Swift, Think Big (Wyooda), Toedter, Wedge and Wilsons deposits, all within its 100% owned Gum Creek Gold Project (Gum Creek or the Project) located in the Murchison Region of Western Australia (Figure 1). Total Indicated Resource gold ounces have increased by 21% and now represent 71% of the total MRE. Following 28,400m of infill and extension reverse circulation (RC) and diamond drilling completed at 18 priority gold targets in 2024/2025, a revised MRE of 37.97Mt @ 1.89g/t Au for 2.30Moz for the Gum Creek Gold Project has been finalised (Table A). The MRE includes Indicated and Inferred Mineral Resource classifications in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC Code 2012 edition) with all resources located within granted mining leases. This updated MRE represents an 8% (164,300oz) increase in Indicated and Inferred gold ounces and a 26% global average grade increase when compared to the May 2023 MRE1 . The free milling portion of the Mineral Resource estimate has increased to 28.64Mt @ 1.74g/t Au for 1.60Moz, representing 71% of the total MRE ounces. 1 Refer to Horizon Gold Limited ASX Announcement dated 15 May 2023 titled “19% Increase in Gold Resources at Gum Creek Project”. CP’s J.Abbott, S.Searle, G Louw, L.Ryan 2 Managing Director Leigh Ryan said: “The Company is very pleased to announce another impressive increase to its 100% owned Gum Creek gold resource. The 8% increase in ounces is attributed to recent shallow resource drilling, combined with the lower underground resource cutoff grades supported by the recent significant gold price increases. The move away from Multiple Indicated Kriging to more appropriate wireframe constrained Ordinary Kriging block models has significantly increased the average grade across the Project and has highlighted the potential for future underground mining at several prospects. Additional resource expansion drilling around existing resources, drilling along strike of and beneath six additional untested open pits, and initial drilling at potential resource targets, along with wide- spaced drilling to further advance the large pipeline of regional gold targets is being planned within this underexplored, highly strategic asset. We’re very confident that further drilling will continue to grow the indicated and total global resources at Gum Creek.” Figure 1: Gum Creek Gold Project and surrounding mines 3 Gum Creek MRE Summary The revised Gum Creek MRE is summarised in Table A, and broken down by material type and metallurgical categories in Tables B and C. The Indicated gold resource is 26.72Mt @ 1.90g/t Au for 1.63Moz representing a 21% increase in ounces from the May 2023 MRE and now representing 71% of the total MRE. Table D compares the current and previous MRE’s by resource category, and within the technical section of the announcement the 15 updated MRE’s are compared with previous published resource estimates. Details of all updated MRE’s by material type are tabulated below, all resources are highlighted in Figure 2, and plans and 3D diagrams of each resource are presented in Figures 3-30. The Company considers the MRE to have a reasonable prospect for eventual economic extraction (RPEEE) based on the comparison of gold resource tonnes, thickness, and grades of the deposits for open pit and underground mining operations on granted mining leases in similar mining jurisdictions to that of Western Australia. Table A: 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 * 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 announcement 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 announcement 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. 4 Table B: 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 C: 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 (refer to JORC Table 1). 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 (refer to JORC Table 1). Table D: Gum Creek Mineral Resources May 2023 / 4 November 2025 Comparison Resource Category 2023 Gum Creek MRE 2025 Gum Creek MRE Variance Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Indicated 28,193,000 1.48 1,346,000 26,721,000 1.90 1,629,300 -5% 28% 21% Inferred 16,257,000 1.51 791,300 11,248,000 1.86 672,300 -31% 23% -15% Total 44,450,000 1.50 2,137,300 37,969,000 1.89 2,301,600 -15% 26% 8% Note: Figures have been rounded. 5 Figure 2: Gum Creek Gold Project Mineral Resources, Advanced Mineral Resource Targets and Exploration Targets over simplified geology Gum Creek Next Steps The Company’s primary focus is to complete the free milling Feasibility Study to highlight the potential for developing a significant stand-alone gold operation at Gum Creek. The Company is also focused on further resource growth, testing both shallow free milling oxide targets and deeper high grade underground targets specifically at the Kingfisher and Omega deposits. Wide-spaced drilling is also planned to explore the extensive untested strike of known mineralised structures in the Gum Creek Project and further advance the large pipeline of regional gold targets within this underexplored, highly strategic asset. 6 Results are pending from the recent shallow RC drilling immediately south of the Swan/Swift area and deep diamond drilling has commenced at Kingfisher, following up some exceptional previous intercepts including 15m @ 28.5g/t Au from 346m and 10m @ 8.9g/t Au from 190m2 . The diamond drilling program will also test beneath previous high-grade intercepts at the Omega prospect including 30m @ 21.1g/t Au from 57m and 13m @ 10.8g/t Au from 122m3 . MRE Technical Reporting The updated MRE for the Gum Creek Gold Project includes all RC and diamond drilling results obtained from the 2024/2025 drill programs. The updated Eagle, Deep South Reliance, Hawk, Howards, Hyperno-Reliance, Kingfisher, Melbourne Bitter, Shiraz, Specimen Well, Swan, Swift, Think Big (Wyooda), Toedter, Wedge and Wilsons deposits were completed by Ashmore Advisory Pty Ltd (Ashmore). All other Gum Creek mineral resources reported in Table A remain unchanged from the 15 May 2023 MRE announcement4. Mineral Resource Statements The Mineral Resource Estimates for the Eagle, Deep South Reliance, Hawk, Howards, Hyperno- Reliance, Kingfisher, Melbourne Bitter, Shiraz, Specimen Well, Swan, Swift, Think Big (Wyooda), Toedter, Wedge and Wilsons deposits are classified in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC code 2012 edition) guidelines. The deposits form part of Horizon Gold’s Gum Creek Gold Project located in the Gum Creek Greenstone Belt within the East Murchison Mineral Field, Western Australia. Ashmore Advisory Pty Ltd (“Ashmore”) was engaged by Horizon Gold Limited to estimate mineral resources consistent with the JORC code 2012 guidelines for the Eagle, Deep South Reliance, Hawk, Howards, Hyperno-Reliance, Kingfisher, Melbourne Bitter, Shiraz, Specimen Well, Swan, Swift, Think Big (Wyooda), Toedter, Wedge and Wilsons deposits following RC and/or diamond drilling and wireframing completed by Horizon at each prospect during 2024 and 2025. All block models were created and resources estimated with Surpac software using Ordinary Kriging (OK) grade interpolation. A cut-off grade of 0.4g/t Au is reported for the updated Swan/Swift Open Cut (OC), Howards, Eagle and Shiraz deposits, 0.6g/t Au cut-off for the Kingfisher OC, Toedter, Hawk, Specimen Well, Wedge, Melbourne Bitter, Hyperno-Reliance and Deep South Reliance, 0.8g/t Au cut- off for Think Big (part of Wyooda), and a 1.5g/t Au cut-off for the Kingfisher Underground (UG), Swan UG, Swift UG and Wilsons UG MRE’s. The results of the MRE’s are summarised by resource category in Table E below, and further detailed by oxidation state (Oxide, Transition and Fresh) in Tables F to AM below. 2 Refer to Horizon Gold Limited ASX announcements titled “Diamond drilling returns 15m @ 28.5g/t Au from Kingfisher" dated 12 December 2022 and titled “Outstanding gold intercepts returned from Gum Creek Diamond Drilling” dated 15 March 2022. 3 Refer to Horizon Gold Limited ASX announcement titled “Gum Creek Geological Review” dated 15 February 2021 4 Refer to Horizon Gold Limited ASX Announcement dated 15 May 2023 titled “19% Increase in Gold Resources at Gum Creek Project”. CP’s J.Abbott, S.Searle, G.Louw, L.Ryan. 7 Table E: Updated Gum Creek Gold Project Mineral 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 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 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 Think Big Nov-25 0.8 268,000 1.37 11,800 191,000 1.05 6,300 459,000 1.24 18,200 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 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 Deep South Reliance Nov-25 0.6 229,000 1.53 11,300 17,000 0.91 500 246,000 1.49 11,800 Total 23,946,000 1.93 1,483,400 6,409,000 2.08 429,600 30,355,000 1.96 1,913,100 Note: Figures have been rounded. Swan/Swift Open Cut Deposit The Swan/Swift open cut deposit contains numerous mineralised domains. The estimate is confined to A$4,500/oz Whittle optimised pit shells generated by Auralia Mining Consulting using typical owner operator industry mining parameters, and up-to-date average operating costs for deposits of a similar scale and geological nature. The optimised pit constraining the open cut resource comprises several sub-pits within an area ~1.3km by ~1.5km and extends to a maximum depth of around 220m. The estimate is based on one metre down-hole composited gold assays from RC and diamond drilling. The MRE is summarised by material type in Table F. Table F: Swan/Swift Open Cut Mineral Resource by Material Type as at 4 November 2025 (0.4g/t Au cut- off) Material Type Indicated Inferred Total Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Oxide 2,718,000 1.33 116,400 132,000 1.30 5,500 2,850,000 1.33 121,900 Transition 1,637,000 1.80 94,900 89,000 1.49 4,200 1,726,000 1.79 99,100 Fresh 2,306,000 2.53 187,700 114,000 1.88 6,900 2,420,000 2.50 194,600 Total 6,661,000 1.86 399,000 335,000 1.54 16,600 6,996,000 1.85 415,600 Note: Figures have been rounded. Comparison of previous and updated Swan/Swift Open Cut Mineral Resource Estimates The updated Swan/Swift Open Cut MRE reported as 7.00Mt @ 1.85g/t Au for 415,600 ounces (0.4g/t Au cut-off), represents a 14% increase in Indicated gold ounces, a 45% decrease in total tonnes, a 74% increase in average gold grade, and a 4% decrease in total gold ounces when compared to the July 2022 MRE of 12.72Mt @ 1.06g/t Au for 434,100 ounces (0.4g/t Au cut-off) 5 (Table G). Table G: Swan/Swift Open Cut Mineral Resource Comparison Resource Category 2022 Swan/Swift OC (0.4g/t cut-off) 2025 Swan/Swift OC (0.4g/t cut-off) Variance Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces 5 Refer to Horizon Gold Limited ASX Announcement dated 25 July 2022 titled “32% Increase in Resources at Gum Creek Project”. CP’s R. Maddocks, J.Abbott, S.Carras, L.Ryan. 8 Indicated 9,980,000 1.09 349,500 6,661,000 1.86 399,000 -33% 71% 14% Inferred 2,735,000 0.96 84,600 335,000 1.54 16,600 -88% 60% -80% Total 12,715,000 1.06 434,100 6,996,000 1.85 415,600 -45% 74% -4% Note: Figures have been rounded. The differences between the July 2022 and November 2025 Swan/Swift Open Cut MREs are a result of the following:  The 2022 Swan/Swift Open Cut MRE was based on Multiple Indicator Kriging with block support adjustment utilising broad shapes representing the limits of continuous mineralisation above approximately 0.1g/t Au. In 2025 the Swan/Swift Open Cut MRE was based on Ordinary Kriging interpolation technique constrained by continuous mineralisation wireframes constructed using an approximate 0.2g/t Au cut-off grade. The effect is less tonnes and ounces at a higher grade.  In 2022 the MRE was confined to an A$2,500/oz Whittle pit shell. In 2025 the MRE was confined to an A$4,500/oz Whittle pit shell. The 2025 pit shells are understandably deeper, however the anticipated tonnage/ounces increase inside the A$4,500/oz pit shell is offset by the additional low grade ounces included in the MIK block model when compared to the OK model.  Additional drillhole results obtained from the 2024/2025 drill program were incorporated into the 2025 OK model. This has mainly increased the level of Indicated contained ounces. Swan and Swift Underground Deposits The Swan and Swift underground Mineral Resource estimates are reported below the A$4,500/oz Whittle pit shells that constrain the updated Swan/Swift open cut resource. The updated Swan and Swift underground cut-off grades have been reduced due to the recent significant increase in gold price, and the estimation methodology has changed from MIK to OK. The estimates are based on one metre down-hole composited gold assays from RC and diamond drilling. The revised MRE for both deposits is summarised by material type in Tables H and I. Table H: Swan Underground Mineral Resource by Material Type as at 4 November 2025 (1.5g/t Au cut- off) Material Type Indicated Inferred Total Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Oxide 17,000 1.96 1,000 56,000 2.37 4,300 73,000 2.27 5,300 Transition 27,000 2.14 1,900 67,000 2.55 5,500 94,000 2.43 7,300 Fresh 891,000 4.57 130,800 675,000 4.16 90,200 1,566,000 4.39 221,000 Total 935,000 4.45 133,700 798,000 3.90 100,000 1,733,000 4.19 233,700 Note: Figures have been rounded. Cut-off grades are 1.5g/t Au for Swan UG Indicated and Inferred. Mineral resources are reported beneath A$4,500/oz optimised Whittle pit shells. Table I: Swift Underground Mineral Resource by Material Type as at 4 November 2025 (1.5g/t Au cut-off) Material Type Indicated Inferred Total Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Oxide 2,000 1.96 100 0 0.00 0 2,000 1.96 100 Transition 9,000 2.21 600 21,000 2.74 1,800 30,000 2.58 2,400 Fresh 24,000 2.27 1,800 792,000 2.53 64,500 816,000 2.53 66,300 Total 35,000 2.22 2,500 813,000 2.54 66,300 848,000 2.52 68,800 Note: Figures have been rounded. Cut-off grades are 1.5g/t Au for Swift UG Indicated and Inferred. Mineral resources are reported beneath A$4,500/oz optimised Whittle pit shells. 9 Comparison of previous and updated Swan and Swift Underground Mineral Resource Estimates The updated Swan Underground MRE reported as 1.73Mt @ 4.19g/t Au for 233,700 ounces (1.5g/t Au cut-off) represents a 229% increase in total tonnes, a 40% decrease in gold grade, and a 97% increase in total gold ounces when compared to the July 2022 MRE of 0.53Mt @ 6.99g/t Au for 118,500 ounces (2.5g/t & 3.0g/t Au cut-off)6 (Table J). Table J: Swan Underground Mineral Resource Comparison Resource Category 2022 Swan UG (2.5g/t & 3.0g/t cut-off) 2025 Swan UG (1.5g/t cut-off) Variance Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Indicated 301,000 6.91 66,900 935,000 4.45 133,700 211% -36% 100% Inferred 226,000 7.10 51,600 798,000 3.90 100,000 253% -45% 94% Total 527,000 6.99 118,500 1,733,000 4.19 233,700 229% -40% 97% Note: Figures have been rounded. 2022 cut-off grades are 2.5g/t Au for Swan UG Indicated, and 3.0g/t Au for Swan UG Inferred. 2025 cut-off grades are 1.5g/t Au for Swan UG Indicated & Inferred. The differences between the July 2022 and November 2025 Swan Underground MREs are a result of the following:  The 2022 Swan UG MRE used reporting cut-off grades of 2.5g/t Au for Indicated and 3.0g/t Au for Inferred, however due to the recent significant increase in A$ gold price, the 2025 MRE reporting cut-off grade is 1.5g/t Au for both Indicated & Inferred categories. This has decreased the total average grade but increased the reported total tonnes and ounces.  The 2022 Swan UG MRE was based on Multiple Indicator Kriging with block support adjustment utilising broad shapes representing the limits of continuous mineralisation above approximately 0.1g/t Au. In 2025 the Swan/Swift Open Cut MRE was based on Ordinary Kriging interpolation technique constrained by continuous mineralisation wireframes constructed using an approximate 0.2g/t Au cut-off grade. The effect is less tonnes and ounces at a higher grade.  In 2022 the MRE was confined to an A$2,500/oz Whittle pit shell. In 2025 the MRE was confined to an A$4,500/oz Whittle pit shell. The 2025 pit shells are understandably deeper, however the anticipated tonnage/ounces decrease below the A$4,500/oz pit shell is offset by the additional ounces included in the OK block model using a lower grade cut-off when compared to the MIK model.  Additional drillhole results obtained from the 2024/2025 drill program were incorporated into the 2025 OK model. This has slightly increased the level of Indicated contained ounces. The updated Swift Underground MRE reported as 0.85Mt @ 2.52g/t Au for 68,800 ounces (1.5g/t Au cut-off), represents a 514% increase in total tonnes, a 56% decrease in gold grade, and a 171% increase in total gold ounces when compared to the July 2022 MRE of 0.14Mt @ 5.72g/t Au for 25,400 ounces (3.0g/t Au cut-off)7 (Table K). 6 Refer to Horizon Gold Limited ASX Announcement dated 25 July 2022 titled “32% Increase in Resources at Gum Creek Project”. CP’s R. Maddocks, J.Abbott, S.Carras, L.Ryan. 7 Refer to Horizon Gold Ltd ASX announcement titled “32% Increase in Resources at Gum Creek Gold Project” dated 25 July 2022. CP’s R. Maddocks, J.Abbott, S.Carras, L.Ryan. 10 Table K: Swift Underground Mineral Resource Comparison Resource Category 2022 Swift UG (3.0g/t cut-off) 2025 Swift UG (1.5g/t cut-off) Variance Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Indicated - - - 35,000 2.22 2,500 N/A N/A N/A Inferred 138,000 5.72 25,400 813,000 2.54 66,300 489% -56% 161% Total 138,000 5.72 25,400 848,000 2.52 68,800 514% -56% 171% Note: Figures have been rounded. The differences between the July 2022 and November 2025 Swift Underground MREs are a result of the following:  The 2022 Swift UG MRE used a reporting cut-off grade of 3.0g/t Au, however due to the recent significant increase in A$ gold price, the 2025 MRE reporting cut-off grade is 1.5g/t Au for both Indicated & Inferred categories. This has decreased the total average grade but increased the reported total tonnes and ounces.  The 2022 Swift UG MRE was based on Multiple Indicator Kriging with block support adjustment utilising broad shapes representing the limits of continuous mineralisation above approximately 0.1g/t Au. In 2025 the Swan/Swift Open Cut MRE was based on Ordinary Kriging interpolation technique constrained by continuous mineralisation wireframes constructed using an approximate 0.2g/t Au cut-off grade. The effect is normally less tonnes and ounces at a higher grade, however this is offset by the different cut-off grades used for reporting.  In 2022 the MRE was confined to an A$2,500/oz Whittle pit shell. In 2025 the MRE was confined to an A$4,500/oz Whittle pit shell. The 2025 pit shells are understandably deeper, however the anticipated tonnage/ounces decrease below the A$4,500/oz pit shell is offset by the additional ounces included in the OK block model using a lower grade cut-off when compared to the MIK model.  Additional drillhole results obtained from the 2024/2025 drill program were incorporated into the 2025 OK model. Wilsons Underground Deposit Wireframing of the Wilsons underground deposit mineralised zones was completed using an approximate 1g/t Au cut-off. The resulting wireframes define three steeply west plunging ore zones, containing an average gold grade of 4.31g/t. Mineralisation at surface strikes north-northwest over approximately 600m, with high grade mineralised shoots between 150m and 220m long and a currently defined down plunge extent of between 550m to 750m. The estimate is based on one metre down- hole composited gold assays from RC and diamond drilling. The MRE is summarised by material type in Table L. Table L: Wilsons Underground Mineral Resource by Material Type as at 4 November 2025 (1.5g/t Au cut-off) Material Type Indicated Inferred Total Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Oxide 31,000 2.94 3,000 - - - 31,000 2.94 3,000 Transition 91,000 3.23 9,400 0 0.00 0 91,000 3.23 9,400 Fresh 2,637,000 4.42 375,000 126,000 3.17 12,800 2,763,000 4.37 387,800 Total 2,759,000 4.37 387,400 126,000 3.16 12,800 2,885,000 4.31 400,200 Note: Figures have been rounded. 11 Comparison of previous and updated Wilsons Underground Mineral Resource Estimates The updated Wilsons UG MRE reported as 2.89Mt @ 4.31g/t Au for 400,200 ounces (1.5g/t Au cut- off), represents a 27% increase in total tonnes, a 20% decrease in gold grade, and a 2% increase in gold ounces when compared to the July 2013 MRE of 2.27Mt @ 5.36g/t Au for 391,000 ounces (1.0g/t Au cut-off)8 (Table M). Table M: Wilsons Underground Mineral Resource Comparison Resource Category 2013 Wilsons (1.0g/t cut-off) 2025 Wilsons (1.5g/t cut-off) Variance Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces Indicated 2,131,000 5.33 365,000 2,759,000 4.37 387,400 29% -18% 6% Inferred 136,000 5.95 26,000 126,000 3.16 12,800 -7% -47% -51% Total 2,267,000 5.36 391,000 2,885,000 4.31 400,200 27% -20% 2% Note: Figures have been rounded. The differences between the July 2013 and November 2025 Wilsons MREs are a result of the following:  Wireframing completed in 2013 used 1g/t Au and 2g/t Au cut-offs to create 2 separate wireframes. Separate block models were created within each wireframe with final tonnes and grade reported from inside the 1g/t Au block model but outside the 2g/t Au block model (Inferred) combined with the 2g/t Au block model (Indicated). Wireframing completed in 2025 used a 1g/t Au cut-off with the block model confined to the 1g/t Au wireframe.  The July 2013 MRE completed by BMGS Pty Ltd (BMGS) was based on an Ordinary Kriging block model using a 1g/t Au lower cut-off grade. The 2025 estimate was based on an OK block model using a 1.5g/t Au lower cut-off grade.  Subsequent to recent additional water displacement bulk density measurements the November 2025 MRE used density values of 2.9 t/bcm for fresh material compared to 2.92 t/bcm used for fresh material in 2013 reducing the fresh tonnage estimate. Howards Deposit The Howards deposit contains three mineralised dom