• Tier-One Jurisdiction: Located in Brazil's prolific Tapajós Gold Province
• Historical Resource: VG1 prospect contains 336,000oz Au inferred resource
• Scalable System: Mineralization remains open along strike and at depth

Australian Mines Limited ('Australian Mines' or 'the Company') has executed a binding agreement to earn up to 80% of the Boa Vista Gold Project, located in Brazil's prolific Tapajós Gold Province. The project hosts a historical inferred resource of 336,000oz Au at the VG1 prospect, with broad, continuous gold zones extending ~600m in strike and up to 85m in width. Drilling has intersected thick zones of gold mineralization from surface, including high-grade intercepts such as 104.5m @ 1.59g/t Au and 102.3m @ 1.18g/t Au. The mineralization remains open along strike and at depth, indicating potential for bulk-tonnage, open-pit development. Initial metallurgical test work indicates recoveries over 95%, with up to 60% Au recovered via simple gravity methods. The large 9,201ha tenement package hosts multiple high-priority targets, and only 26 diamond holes have been drilled to date, leaving substantial blue-sky exploration potential. Australian Mines plans to commence a 3,000m diamond drill program, along with LiDAR and magnetic surveys, to test expansion potential and refine targets at Boa Vista.

• Hold an EGM to attain shareholder approval for the Boa Vista earn-in
• Launch diamond drilling at Boa Vista Gold Project (VG1)
• Complete geophysics, LiDAR and close-spaced geophysics at Boa Vista
• Relog drill core at Boa Vista
• Complete Flemington geological review with the intent of possible further drilling and updated Scoping Study
• Advance discussions with HMS Bergbau for Sconi offtake and funding
• Progress exploration at Jequie and Resende projects in Brazil
• Evaluate opportunities to upgrade VG1 historical resource to JORC standard