Letter from the MD – October Shareholder Update

27 October 2025

Dear Shareholders,

Level 1, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

Much like the record gold price, Rox Resources continues to go from strength to strength as we mark key milestones on our pathway towards production at our Youanmi Gold Project.

Our most recent achievements include the successful completion of dewatering at the United North pit, which is now mine ready, and the approval of our Native Vegetation Clearing Permit across the entire operation, along with the Mining Development and Closure Proposal for underground mining and associated activities. Rox is now fully permitted to start mining underground.

Dewatering has progressed ahead of schedule, with United North now complete and the Main Pit expected to be finished by early next year. This progress has enabled our newly appointed mining contractor to prepare for mobilisation to Youanmi by the end of this month.

We are pleased to have appointed Byrnecut Australia, a renowned tier-1 mining contractor, on a four-year agreement - with an initial term for the United North exploration platform, then continue to mine development and production subject to a positive Final Investment Decision (FID). The FID will follow the release of our Definitive Feasibility Study (DFS) which remains firmly on track for delivery next month.

As part of the DFS program, we have commenced detailed plant and tailings design and begun construction on our workers' accommodation. The first phase of our camp expansion is well underway, setting the stage for an influx of skilled workers over the coming months.

At the same time, we continue to strengthen our team. All key management positions required for the commencement of mining operations have now been filled, and we are expanding our operational geology team to unlock further value and opportunity across Youanmi and our broader regional tenement package.

We remain on track to pour first gold by mid-2027 - a moment that promises to be transformative for both Rox Resources and our shareholders. With gold prices reaching new historical highs, we are well positioned to capitalise on this exceptional market environment.

The recent surge in bullion prices - up nearly 9% in the past week alone, reaching a record USD $4,375 per ounce - has been a focal point of our conversations during our global roadshow across the United States, Europe, and east coast of Australia.

We have seen strong and consistent interest from investors seeking large-scale, financially robust gold projects with a clear and credible pathway towards production.

I'm proud to say Rox Resources and our Youanmi Gold Project meet all of those criteria and that sentiment has been echoed by investors and analysts alike, including a recent research note from Canaccord Genuity Australia highlighting the significant opportunity as Youanmi advances towards production.

We were also pleased to connect with many of our retail shareholders at the Australian Gold Conference -thank you to those who took the time to meet with us.

Your ongoing support continues to drive our commitment to deliver Youanmi successfully into production and to create enduring value for all shareholders.

While enthusiasm for gold is at historic highs, our focus remains firmly on execution. In the coming weeks, the release of our DFS will represent a pivotal milestone - one that we believe will further cement our position as the next gold producer of scale in Western Australia.

I look forward to sharing this next chapter with you as we continue advancing our pathway towards production.

Yours sincerely

Phill Wilding

Managing Director C CEO

Level 1, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

admin@roxresources.com.au https://www.roxresources.com.au