Quarterly Activities/Appendix 5B Cash Flow Report

• Step-out success with meaningful extensions to known mineralisation across Minyari Dome deposits
• New extremely high-grade gold zones identified at Fiama with intersections up to 520 gram-metres
• Significant new mineralised gold-copper zones identified to the south of Fiama and Rizzo

During the quarter, Antipa Minerals focused on advancing its CY2025 Phase 1 and Phase 2 exploration programmes in parallel with ongoing Pre-Feasibility Study (PFS) workstreams for the 100%-owned 4,100km2 Minyari Dome Gold-Copper Development Project. The Phase 1 CY2025 drilling campaign comprised a total 305 holes for approximately 35,158m, with a dual-purpose to expand the existing Mineral Resource at multiple Minyari Dome deposits and test greenfield targets to deliver new discoveries. Key highlights include step-out success with meaningful extensions to known mineralisation, new extremely high-grade gold zones identified at Fiama, and significant new mineralised gold-copper zones identified to the south of Fiama and Rizzo. The Phase 2 CY2025 exploration programme, planned for 25,000 to 35,000m of air core, RC and diamond core drilling, is advancing and on track for completion by mid-December 2025. Other key activities during the quarter included progress on metallurgical test work, environmental studies, and permitting ahead of the expected PFS completion around August 2026. The company also completed a A$40 million equity placement and appointed a new Non-Executive Director.