• Commenced maiden diamond drilling at Desert Antimony Mine and El Campo REE Prospect
• Achieved 99.5% purity antimony trioxide, advancing U.S. supply chain capability
• Accepted as Affiliate Member of U.S. Department of Energy's Critical Materials Innovation Hub

Locksley Resources Ltd reported significant progress across its exploration, processing, and corporate activities during the March 2026 quarter. Key highlights include the commencement of maiden diamond drilling programs at both the Desert Antimony Mine and the El Campo REE Prospect, the successful production of 99.5% purity antimony trioxide from project feedstock, and the Company's acceptance as an Affiliate Member of the U.S. Department of Energy's Critical Materials Innovation Hub. The exploration program delivered exceptional high-grade antimony results from batch sampling at the Desert Antimony Mine, while surface mapping identified a new 10-15 metre wide exploration target. Locksley also confirmed the presence of a high-grade polymetallic silver corridor at the Mojave Project's North Block. On the processing front, the Company's metallurgical optimization program with Hazen Research achieved metallic antimony exceeding 99% purity, while the Rice University DeepSolv research expanded to include antimony-based composite anode materials and flame-retardant electrolyte additives. Corporately, Locksley welcomed Bevan Tarratt as the new Non-Executive Chairman following Pat Burke's resignation. The Company's cash position at the end of the quarter was approximately $16.71 million, positioning it well to advance its integrated mine-to-market strategy for domestic U.S. antimony and rare earth supply.

Locksley Resources expects to report initial assay results from the El Campo REE Prospect drilling program in the coming 4-6 weeks, representing a key near-term catalyst for the Mojave Project. Assay results from the Desert Antimony Mine drilling program are also pending and will be reported as received.

Locksley will continue to advance metallurgical optimization toward confirmed >99% purity antimony trioxide production, progress the Antimony Trisulphide qualification program for U.S. defence applications, and engage with strategic partners and government supply chain participants. Planning for the Phase 1 Pilot Processing Facility design and construct tender will also advance in the coming quarter.