• New high-grade copper-gold footwall lode intersection of 6m @ 12.6% CuEq
• 25.5m @ 2.0% CuEq extension of the main lode to over 400m below existing resource
• New results demonstrate potential to grow the Trek 1 mineral resource

Carnaby Resources has announced significant new exploration results from the Trek 1 prospect within its Greater Duchess Copper Gold Project in Queensland. The highlights include a new high-grade copper-gold footwall lode intersection in drill hole CBRC052 of 6m @ 12.6% CuEq (5.8% Cu, 7.9g/t Au) from 211m. This new footwall lode remains open at depth and along strike, representing a new target zone for growing the mineral resource. Additionally, wedge hole CBDD017W4 intersected a 25.5m @ 2.0% CuEq (1.8% Cu, 0.2g/t Au) extension of the main lode, demonstrating the strong continuity of high-grade breccia mineralisation over 400m below the existing mineral resource. The company notes that the highest grade section of the main lode may not have been fully intersected and further drilling is planned to continue expanding this high-grade discovery. Assay results are also reported from the Inheritance prospect, with drill hole CBRC022 intersecting multiple broad zones of IOCG-style mineralisation up to 39m @ 0.6% CuEq. The company is highly encouraged by these new results and plans to restart drilling at Trek 1 in mid-January 2026 with two drill rigs.

The company plans to restart drilling at Trek 1 in mid-January 2026 with two drill rigs to continue expanding this high-grade copper-gold discovery. Further assay results are pending and the company is highly encouraged by the potential to grow the mineral resource at Trek 1.