• Boa Vista Gold Project (Brazil): Diamond drilling continued with high-grade results
• Flemington Scandium-Nickel-Cobalt Project (NSW): Drilling commenced to test a large geophysical anomaly
• Capital raising: $4.0 million strategic placement to fund upscaled exploration

Australian Mines Limited ('Australian Mines' or 'the Company') provided its Quarterly Activities Report for the period ending 31 December 2025. At the Boa Vista Gold Project in Brazil, diamond drilling continued during the quarter and intersected the Interpreted Mineralisation Envelope (IME) as predicted, with localised visible gold observed within the core. The outstanding drill result is VGADD0002, which returned 160.8 gram-metres, the second-highest gram-metre result reported at Boa Vista to date. These results confirm broad, continuous gold mineralisation within the interpreted mineralised envelope and support the Company's objective of defining the geometry and continuity of the mineralised system. At the Flemington Scandium-Nickel-Cobalt Project in NSW, the Company commenced a targeted drill program to test a large underexplored geophysical anomaly adjacent to the existing high-grade scandium resource. Assays are pending and will be reported once received. Additionally, SRK Consulting will update the Flemington Scoping Study prioritising the production of scandium. The Company also announced firm commitments for a $4.0 million (gross) strategic placement at $0.02 per share to fund upscaled drill programs at Boa Vista and Flemington, and for working capital.