Drilling Resource Upgrades To Define Stage Two Metrics

• Stage 2 resource definition drilling underway to convert ~20-40 Mt from Inferred to Indicated
• Program includes ~3,400m diamond core and ~2,700m RC drilling, plus geotechnical studies
• Drilling expected to continue through April 2026, with updated resource model by end June 2026

Lindian Resources Limited (ASX: LIN) has announced that a Stage 2 resource definition drilling and mine geotechnical program has commenced at the Kangankunde Rare Earths Project in Malawi. The program is designed to lift resource confidence by converting approximately 20 to 40 million tonnes of existing Inferred Mineral Resource material within the current resource footprint to Indicated status, focused on areas beneath and on the margins of the current Indicated Resource to fall within a potential Stage 2 expansion mine design. The program comprises approximately 3,400m of diamond core drilling and 2,700m of RC drilling, with drilling expected to run through April 2026, assay turnaround expected by end May 2026, and an updated resource model targeted for end June 2026. The Stage 2 drilling is targeting areas where additional confidence in continuity and grade distribution is required to support mine scheduling and Stage 2 pit design within and adjacent to the current resource envelope.

The goal of the Stage 2 program is to consider an increase to 4 Mtpa of ore to produce an additional 100,000 tpa of monazite concentrate from Kangankunde.

Lindian is focused on advancing the Kangankunde Rare Earths Project, with the Stage 2 drilling program aimed at increasing resource confidence to support expanded mine planning and design. The Company remains on track to deliver Stage 1 production and is now working to define the metrics for a potential Stage 2 expansion.