• Pro-rata 1-for-2 non-renounceable entitlement offer of New Options priced at $0.001 per New Option
• Funds to be used for ongoing aircore drilling program, working capital, and offer expenses
• CPS Capital Group Pty Ltd has agreed to fully underwrite the Offer

Desert Metals Limited (ASX:DM1) has announced a pro-rata non-renounceable entitlement offer of up to 325,376,901 New Options, on the basis of one (1) New Option for every two (2) Shares held by eligible shareholders. The New Options will be issued at $0.001 per Option and will be exercisable at $0.015 each on or before 31 December 2027, to raise up to approximately $325,377 (before costs). The Offer is intended to reward the loyalty of Shareholders and provide a further opportunity for Shareholders to participate in the potential future success of the Company. The funds raised will be used for the ongoing aircore drilling program at the Tiogo and Kakalogo gold prospects on the Tengrela South permit in northern Côte d'Ivoire, as well as for working capital and expenses of the Offer. CPS Capital Group Pty Ltd has agreed to fully underwrite the Offer. The initial phase of drilling at Tiogo is expected to be completed within two weeks, with first assays expected in early May 2026.