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Gum Creek Project - Exploration

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ASX: HRN

Drilling by Horizon Gold during 2025 (Figures 2 & 4) returned numerous >25 gram x metre gold intercepts from the central lode of the Howards Prospect 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)

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)

**Refer to Horizon Gold Ltd ASX announcement dated 3 June 2025, “Gum Creek Gold Project – Impressive broad, shallow and high-grade intercepts returned
from RC and Diamond Drilling ”. CP L.Ryan.

Exploration drilling will continue to target strike and depth extensions to existing mineralisation with the aim of increasing the current MRE.

Gold mineralisation at Howards is hosted within a broad, north-south trending, vertical to steep west-dipping shear zone, approximately 150m from, and sub-parallel to the east-dipping eastern contact of the Montague granodiorite. Mineralisation is associated with strong quartz veining and intense silica-albite-biotite alteration within a sheared basalt above a footwall dolerite unit. Two sinistral northwest-trending faults offset the northern (northern lode) and southern (southern lode) extensions of the main Howards lode by 30m and 150m respectively (Figure 2).

RC drilling since the deposit was discovered in 1994 has confirmed the presence of broad zones of potentially open pit gold mineralisation that has now been defined over a continuous strike of +1.3km, with mineralisation remaining open to the north, south and at depth within the northern, southern and central lodes. Significant historic intercepts (>25 Au gram x metres) from the deposit include (Figure 2)*:

39m @ 4.58g/t Au from 133m including 17m @ 9.86g/t Au from 148m

72m @ 2.26g/t Au from 18m including 18m @ 5.09g/t Au from 27m

124m @ 1.27g/t Au from 7m including 16m @ 2.97g/t Au from 88m

38m @ 4.02g/t Au from 112m including 21m @ 6.08g/t Au from 121m

80m @ 1.08g/t Au from 18m including 10m @ 2.12g/t Au from 83m

23m @ 1.23g/t Au from 99m including 3m @ 3.31g/t Au from 112m

*Refer to Horizon Gold Ltd ASX announcement dated 7 October 2025, “Impressive gold intercepts returned from water bore drilling and
commencement of AI-powered mineral exploration collaboration”. CPs L.Ryan, M.Gunther, D.Archer.

The Howards deposit is located in the southern portion of the Gum Creek Greenstone Belt, 28km southeast of the historic Gidgee mill. The current MRE for the Howards deposit is 

 (refer to Horizon Gold Ltd ASX announcement dated 4 November 2025).

: Howards Deposit 3D view looking down to the north-west showing drill holes and MIK block model coloured by Au (g/t)