Q3 2026 – Exploration Report

Q3 2026 Exploration Report

‌Greenfield Exploration

During Q3 2026, Greenfield Exploration took place in Australia, Egypt, Tanzania, and the United States. Total expenditure was $18.6m, with a total of 9,272 m aircore (AC) and mud rotary (MR), 2,077 m reverse-circulation (RC) and 3,617 m diamond drilling (DD) completed.

In Tanzania, soil sampling was completed at the Fahari tenements under the EcoGraf earn-in agreement, with 1,519 samples collected. All assays have been returned, with compilation and interpretation underway. RC drilling (690 m) was completed at the 100% AGA Fanaka and Utulivu Projects and RC drilling is expected to commence at the 100%-owned Kame Project at the start of Q4 2026.

In Egypt, exploration activities remain suspended at the Nugrus block and are expected to resume in Q4 2026. Field operations resumed at Najd with a focus on field validation of targets. As part of the Egyptian Mineral Resources and Mining Industries Authority's 2026 Open Bid Round, applications were submitted for 19 exploration blocks following a comprehensive evaluation of available data.

In Nevada, USA, DD continued at Bottle Creek (1,936 m) and RC drilling commenced at Kalamazoo (1,387 m) in Q3. A DCIP survey was completed at Wagen, extending coverage over high-priority targets.

In the Laverton District, Western Australia, field work remains suspended at the Corvette project following submission of a heritage site application. AGA exercised the option agreement with Matsa Resources.

In New South Wales, DD was completed at Nevertire South and recommenced at the Ace of Spades District under the Kincora JV, with 2,240 m MR and 942 m DD completed. Anomalous intercepts were received from Nevertire South drilling with further analysis required to understand their context. AC drilling was completed at Trangie under the Inflection JV, with 7,032 m drilled in Q3 2026 and several anomalous zones identified.

In Queensland, DD commenced at Goldfinger with 738 m completed in Q3 2026. Geological mapping and sampling are ongoing at various prospects throughout the New England Orogen to validate areas of anomalous gold-in-soil and ASTER anomalies.

‌Brownfield Exploration

Brownfield exploration continued at all AGA-managed operations during Q3 2026, with 299 km drilling completed. Total expenditure attributable to AGA was $63m, comprising $33m for capitalised exploration to support delineation and definition of Mineral Resources, and

$29m spent on expensed exploration for reconnaissance activities, drill-testing of orebody extensions and discrete targets.

Additionally, 9 km of drilling was completed in Q3 2026 at the Nevada projects for a total exploration cost of $7m, principally at the Merlin deposit for the Arthur Gold Project.

Geita: Capitalised and expensed programs completed a total of 56 km drilling in Q3 2026.Underground resource development and extensional drilling took place across Star & Comet Cuts 3 and 5, Ridge 8, Nyankanga Blocks 1, 2 and 4, and Geita Hill Blocks 1 and 4. Resource development drilling continued to return good results from the Nyamulilima open pit, supporting potential for pit expansion. Surface expensed drilling advanced at Selous, Chipaka, Prospect 30, and Nyamonge targets. Continued encouraging results were returned from delineation drilling of the eastern extension of Selous, as well as reconnaissance drilling on the main orebody at Chipaka and from a newly identified sub-parallel shear zone to the south.

Iduapriem: Exploration programs completed a total of 8 km drilling in Q3 2026. Resource definition drilling at Block 7&8 centred on refining the intrusive model within Cut 5 and Cut 7. Definition drilling at the combined Block 2-3-3W continued to evaluate 'superpit' potential in this area, whilst the near-surface Block 1&2 Gap was evaluated with an RC program to support project studies. At the regional Mile 8 target, drilling continued to test along a 500m NW-SE zone of mineralisation within the broader NE-SW Kawere Trend.

Obuasi: Capitalised and expensed programs completed a total of 30 km drilling in Q3 2026. Underground resource development and extensional drilling was completed at Block 8 from levels 32 and 34, and at Block 10 from levels 30, 36, 43, and 44. The Block 10 deeper drilling tested and confirmed the Obuasi Fissure to below level 50 into Block 12, with characteristic pinch-and-swell geometry exhibited. Block 11 drilling commenced from level 50 during August 2026 and will test the gap between southern and central pay shoots to approximately level 56. Surface drilling continued to test open pit opportunities in the area around Anyinam-Coral Snake, with good lateral continuity and several high-grade intercepts returned from the steeply dipping Côte d'Or fissure at N Prospect.

Siguiri: Capitalised and expensed programs completed a total of 51 km drilling in Q3 2026. At Block 1, exploration prioritised resource development drilling at Kami, Kozan South, and Seguelen, alongside below-pit extensional drilling at P3 (Kami-Kosise) and P2 (Kozan-Kalamagna). Strong assay results returned from the P3 drilling program indicate good upside relative to current models. Drilling at Silakoro North is expected to resume in Q4 2026 once land compensation is finalised. Previous drilling at the prospect returned several high tenor intercepts in Q3 2026, hosted in deformed carbonate rocks. In Block 2, reconnaissance drilling took place at Foulata, and at Saraya to the north and south, with several well-mineralised intersections reported.

Sukari: A total of 12 km drilling was completed in Q3 2026, with on-mine exploration focused on underground resource development drilling at Horus South Box C, alongside testing of extensions at Horus North and Central deeps. The Horus South drilling confirmed continuity of mineralisation with several high-grade intercepts reported, while the Horus North drilling also returned several encouraging intercepts. Regional surface drill testing took place at the Quartz Ridge prospect, which confirmed steep southeast-dipping structures hosting narrow mineralised quartz veins, typically hosted within diorite lenses and at lithological contacts.

Q3 2026 Exploration Report continued

AGA Mineração: At Cuiabá-Lamego, capitalised and expensed programs completed a total of 49 km drilling in Q3 2026. Underground exploration at Cuiabá continued at the Main, Narrow Vein, and secondary orebodies (Viana and VQZ) from levels 20 to 24, with development advancing at the level 23 exploration hanging-wall drive. Surface drilling tested the shallow footwall zone of the inverted limb, with high-grade intercepts returned, associated with Narrow Vein BIF-hosted mineralisation, that may bring additional flexibility to underground operations. The Descoberto definition drilling program concluded, with results refining the model and indicating tubular geometries for the main ore zones. At Lamego, drilling at Carruagem and Queimada continued at levels 6 and 7, respectively. Exploration at the Tinguá prospect was postponed, with regional works focused on evaluating potential in the historic Raposos Mine area.

Cerro Vanguardia: A total of 16 km of capitalised and expensed drilling was completed in Q3 2026. Exploration on the CVSA lease focused on DD across multiple vein targets, plus shallow RC drill testing for heap leach potential across selected targets. The DD program intersected high-grade gold-silver mineralisation across several open pit and underground targets, including Atila, Laguna del Mineral, Mónica, Pardo and Verónica. At the Michelle Project, DD was initiated in August 2026 to test several vein targets, including Michelle and Jackpot, as well as vein extensions under basalt cover.

Nevada Projects: Exploration programs completed a total of 9 km drilling during Q3 2026. Work was focused at Merlin and comprised definition drilling of relatively shallow mineralisation in the south-western part of the deposit, plus drill testing in the northeast to constrain the position of the bounding Bare Mountain fault. The drilling is intended to support model updates to optimise open-pit designs and inform the Arthur Gold Project Feasibility Study (FS). The RC rig was utilised for the FS hydrogeology program during Q3 2026.

Sunrise Dam: Capitalised and expensed programs completed a total of 51 km drilling in Q3 2026. Exploration was split between underground resource development drilling across Astro, Frankie, Hammerhead, and Vogue, and surface drilling at Pink Lady, Black Magic, Sunrise North and Neville. Programs returned numerous high-grade intersections across underground and surface targets, with notable significant intercepts down-plunge from Neville and Neville East pits. The core processing delays resulting from storm damage earlier in 2026 have been resolved, with the backlog now transferred to the laboratory. Intense alteration and visible gold have been reported from several prospective intervals awaiting assay.

Tropicana: Capitalised and expensed programs completed a total of 24 km drilling in Q3 2026. Exploration focused on underground definition drilling across Havana, Havana South, delineation drilling at Boston Shaker, Havana and Swizzler, and testing of depth extensions at Swizzler and Wildfire. The Wildfire target is an interpreted plunge repeat across the Havana Shear of high-grade mineralisation that was mined in the Havana 05 open pit, with encouraging results returned from altered syenitic host rock with disseminated pyrite. Regional exploration field programs remain suspended due to access constraints.