Pilbara, WA

Kalamazoo’s West Australian gold portfolio comprises the 100% owned Ashburton Gold Project (AGP), which the Company acquired from Northern Star Resources Limited (ASX: NST) in 2020 and the Mallina West Gold Project.

Covering 238km², the AGP is located on the southern edge of the Pilbara Craton in Western Australia.  Kalamazoo delivered an enhanced Mineral Resource Estimate for the AGP in 2023 of  (JORC Code 2012) 16.2Mt @ 2.8g/t Au for 1.44Moz – a 10% increase in grade across the resource base in addition to a 68% increase in higher-confidence Indicated Category ounces.

In July 2025 Kalamazoo commenced a fast-tracked Scoping Study to assess the optimal development pathway for the AGP’s Mt Olympus Deposit, supported by a record high Australian dollar gold price. Substantial technical work carried out at the AGP by De Grey and Northern Star is being used to accelerate completion of the Scoping Study, targeted for Q4 2025.

The Scoping Study will be based on the Mt Olympus Open-Pit Re-Optimisation, with recent studies using the conservative gold price of A$4,500/oz, showing the estimated mineable material has increased to 772,000oz at 2.53g/t Au, in an integrated Mt Olympus single-pit development.

Based on exploration work carried out over the last 5 years, Kalamazoo considers significant potential exists to substantially increase the gold inventory and life-of-mine at the Ashburton Gold Project.

Recent outstanding drilling results include:

• 47.0m @ 5.5g/t Au from 30m in ASHDD0007
• 55.5m @ 4.1g/t Au from 177.6m in ASHDD0008
• 31.8m @ 3.3g/t Au from 132.2m in ASHDD0013
• 15.3m @ 6.5g/t Au from 69m in ASHDD0003
• 4.9m @ 17.1g/t Au from 20.7m in ASHDD0008
• 38.0m @ 2.1g/t Au from 39m in ASHDD0008
• 17.7m @ 4.6g/t Au from 9.3m in ASHDD0006
• 47.0m @ 1.4g/t Au from 48m in ASHDD0005
• 16.7m @ 3.0g/t Au from 6.7m in ASHDD0002
• 11.2m @ 4.2g/t Au from 84.2m in ASHDD0010

Geology map showing the historical open pit mines and locations of mines and prospects and new resource estimate numbers for each deposit

1. OP (Open Pit) resource: >0.5 g/t, inside optimised pit Rev factor = 1.2
2. UG (Underground) resource: >1.5g/t below Rev factor = 1.2 pit, inside domain wireframes
3. West Olympus OP: >0.5 g/t, inside optimised pit Rev factor = 1.2
4. UG: >1.5g/t below Rev factor = 1.2 pit, inside domain wireframes
5. OP: >0.5g/t above 395mRL (equivalent to base of current pit)
6. OP: Optimised Pit 11 with Indicated + Inferred, > 0.5g/t
7. UG: Below Optimised pit >1.5g/t
8. The previous inferred resource at Romulus remains unchanged at 329kt @ 2.6g/t for 27k oz Au. Romulus was not included in this update and is therefore in addition to the total Resource quoted in the above table

Kalamazoo’s Mallina West Gold Project is prospective for both epigenetic gold mineralisation associated with the Wohler Shear Zone, and potential mineralised intrusions similar to those identified at De Grey’s Hemi discovery which is located 50km to the north east.  Kalamazoo has identified 5 highly prospective targets to date.