• Broad zones of high-grade antimony-lead-silver mineralisation intersected in the Taipan Lode
• Mineralisation also intersected in the Dugite and Gwardar Lodes, enhancing geological understanding
• Metallurgical test work underway to optimise antimony recoveries

Black Cat Syndicate Limited ('Black Cat' or 'the Company') has completed a 24-hole, 6,904m diamond drilling program at the 100% owned Mt Clement Antimony Project ('Mt Clement'). Assays have been received for another 6 holes, with all holes into the Taipan Lode intersecting antimony-lead-silver (Sb-Pb-Ag) mineralisation. This demonstrates good continuity of mineralisation and a sound understanding of the geology. Significant intersections include 6.90m @ 2.18% Sb, 6.04% Pb and 45.91g/t Ag, and 4.20m @ 1.92% Sb, 5.45% Pb and 41.00g/t Ag. Mineralisation was also intersected in the Dugite and Gwardar Lodes, validating the mapping at surface and enhancing the geological understanding. Further metallurgical test work focussing on antimony recoveries is underway, and drilling at Mt Clement is planned to recommence in March 2026. The results will inform an updated resource estimate and an economic study on Mt Clement, which is scheduled for the September 2026 quarter. Black Cat, by invitation, will also join a West Australian government critical minerals delegation to North America in March 2026 to showcase Mt Clement.

The Mt Clement economic study currently considers a sulphide floatation circuit at or near the Paulsens gold processing facility (~30km from Mt Clement) to recover antimony and other metals, and utilising established infrastructure at Paulsens to reduce both time and cost of project delivery and significantly lower capital costs.