September 2025 Quarterly Activities Report

• Gold production of 7,148oz at $2,133/oz AISC exceeded the Feasibility Study start-up plan
• Accelerated open pit mining strategy now in full effect with three mining fleets operating at steady state
• Significant high-grade ore stockpile of 68kt @ 1.9g/t Au built, de-risking production and providing operational flexibility

Meeka Metals Ltd has reported a strong start to the financial year with gold production exceeding plan and costs in line with or better than plan during the September 2025 quarter. The company produced 7,148oz of gold at an AISC of $2,133/oz, exceeding the Feasibility Study start-up plan. The accelerated open pit mining strategy is now in full effect with three mining fleets operating at steady state, bringing forward high-grade ore, increasing production flexibility, and building a meaningful ore stockpile to de-risk a potential processing plant expansion. The open pits produced 12.3koz @ 1.6g/t Au with 236kt of ore mined during the quarter. Ore stockpiles built steadily through the period, with 68kt @ 1.9g/t Au of high-grade ore in stockpile, and a further 110kt @ 0.6g/t Au of low-grade ore. The processing plant performed well, processing 84kt @ 2.7g/t Au with a 98% recovery. Processing unit costs averaged $43/t, 19% lower than the Feasibility Study plan, and are expected to reduce further as plant throughput increases. The company ended the quarter with cash and gold of $59.3m, with no debt other than underground mining equipment finance.

The company expects gold production to increase in the December 2025 quarter as the accelerated open pit mining strategy continues to ramp up. Processing unit costs are expected to continue to reduce as plant throughput increases.