Quarterly Activities Report & Appendix 5B

• Highly successful 20,951m diamond drilling campaign at Ferké Gold Project with multiple high-grade gold intercepts
• Preliminary metallurgical tests show 94% gold recovery, indicating non-refractory mineralization
• Commenced 15,000m drilling campaign at Ferké and 2nd diamond rig mobilized to accelerate exploration

Many Peaks Minerals Ltd reported results from its Q4 2025 activities, including the completion of a highly successful 20,951m diamond drilling campaign at the Ferké Gold Project in Côte d'Ivoire, which returned multiple high-grade gold intercepts. Preliminary metallurgical bottle-roll tests on the Ferké mineralization showed an average 94% gold recovery, indicating the gold is non-refractory and amenable to cyanide leach processing. The company has initiated a new 15,000m drilling campaign at Ferké, with over 10,000m completed at the time of reporting, and has mobilized a second diamond drill rig to accelerate exploration. At the Odienné Gold Project, the company completed an initial RC drilling program that returned 21m @ 1.21g/t gold, and has initiated ground geophysical surveys and extensional surface geochemistry to define follow-up drilling. The company is in a strong financial position with A$12.9 million in cash and investments as of 31 December 2025.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The company has not provided any forward-looking outlook statements in the announcement.