• A recent RC grade control drilling program at the Liontown deposit has returned exceptional high-grade gold and silver intercepts
• A previously reported shallow, 1m over range silver interval (>6,000g/t Ag) has now been re-analysed, returning 1m @ 136.00g/t Au & 9,960g/t Ag
• The expanded drill program was completed on 5 February 2026 and comprised 121 holes (5,195m), with further results expected in early March 2026

Sunshine Metals has received the final silver assay for a high-grade interval previously reported from drill hole 25LTRC070 at the Liontown deposit. The revised over-range analysis reported 1m @ 136.00g/t gold and 9,960g/t silver (from 18m), within a broader zone of 30m @ 6.68g/t Au & 528g/t Ag from 17m. This exceptional silver assay underlines the considerable silver endowment of the Liontown system. The initial 84-hole (3,333m) grade control drill program was extended to 121 holes (5,195m) following early high-grade results, with assays for 68 holes (2,684m) reported so far. Previously reported silver assays from the program include 8m @ 7.31g/t Au and 1,321g/t Ag, 5m @ 0.86g/t Au and 1,876g/t Ag, 14m @ 3.45g/t Au and 592g/t Ag, and 24m @ 7.08g/t Au and 305g/t Ag. The final results from the remaining 53 holes are expected in March 2026. These recent results further reinforce the region's potential for significant silver endowment, with the current Liontown Resource containing 5,511,414 oz Ag @ 27.15g/t Ag. Sunshine plans to incorporate the new drill results into an updated and upgraded Resource in April 2026 and then integrate them into an updated Mining Study.

The recently announced Mining Study outlined an initial production target of ~75Koz @ 2.96g/t Au and 654Koz @ 25.73g/t Ag from the Liontown deposit.

Sunshine is now giving both gold and silver their due at the Ravenswood Consolidated Project, and looks forward to growing the precious metal endowment of Liontown and testing other nearby gold and silver-rich targets in 2026 and beyond.