• Expanded 2026 Scoping Study underway for Mt Carrington Project
• High-grade gold and silver mineralization confirmed at Mascotte Prospect
• Farm-in and joint venture option agreement signed with Rio Tinto for Thomson Project

Legacy Minerals has reported a busy and productive December 2025 quarter, with strong progress at its flagship Mt Carrington Project and a partnership secured with global major Rio Tinto at the Thomson Project. At Mt Carrington, the company has engaged Ausenco to complete an expanded Stage 2 Scoping Study, which will evaluate the full 115Moz silver-equivalent resource and unlock value across both precious and critical metals through flotation-based processing. This represents a major step-change for the project. In parallel, Legacy Minerals is pursuing discovery-driven upside through targeted drilling at prospects such as Battery, Mascotte, and White Rock. High-grade surface results from Mascotte and the identification of new, drill-ready targets at White Rock continue to reinforce the scale and quality of this mineral district. At the Thomson Project, the farm-in and joint venture option agreement secured with Rio Tinto during the quarter represents a strong validation of the geological potential of this underexplored belt-scale opportunity. Rio Tinto's commitment to fund up to $25 million of exploration materially de-risks the project for Legacy shareholders while preserving significant upside exposure. Across the broader generative portfolio, the identification of previously reported scandium mineralization at NiCo Young, together with new project acquisitions and the return to 100% ownership of several key assets, further strengthens Legacy Minerals' pipeline of discovery and development opportunities.

With assay results expected from Battery, the expanded Stage 2 Scoping Study due for completion shortly and drilling underway at Mascotte, Legacy Minerals has started the New Year with considerable momentum. Against the backdrop of record metal prices, the company is exceptionally well positioned for sustained exploration news flow into the March Quarter and beyond.