• Exceptional Phase 3 drilling results at Vadrians with high-grade gold mineralisation
• Fully funded 20,000m Phase 4 drilling campaign commenced, targeting depth and strike extensions
• Acquisition of Comet Gold Project triples Caprice's landholding in the Murchison Goldfields

During the quarter, Caprice Resources focused on advancing its flagship Island Gold Project in Western Australia's Murchison Goldfields, delivering outstanding high-grade assay results from Phase 3 drilling and commencing its fully funded Phase 4 programme. The Phase 3 drilling results from Vadrians were exceptional, demonstrating strong continuity of high-grade gold mineralisation and confirming the system's capacity to grow with depth. These results, together with the discovery of new gold lodes west of New Orient, underscore the scale potential emerging along the five-kilometre Island Gold corridor. Caprice has now transitioned into the fully funded Phase 4 programme, including the first diamond core drilling ever completed at Island Gold, which will test the depth potential of the system and provide valuable structural and metallurgical information. Caprice also announced the acquisition of the Comet Gold Project, which is strategically located along strike from the Island Gold Project. The acquisition triples Caprice's landholding in the district, consolidating a significant and semi-contiguous 68km² footprint. The Comet Gold Project contains multiple walk-up drill targets with known gold mineralisation open along strike and down dip, providing Caprice with a strengthened exploration and discovery pipeline.

Caprice is focused on rapidly advancing exploration at both the Island Gold Project and the newly acquired Comet Gold Project, with the aim of delivering a steady stream of value-generating news flow in the quarters ahead.