• Shallow high-grade gold confirms near-term development potential
• Secured key infrastructure and commenced refurbishment
• Exceptional gold recoveries from heap leach testwork

During the March 2026 quarter, OzAurum Resources continued to advance the Mulgabbie North Gold Project, with highlights including: shallow high-grade gold intercepts from grade control drilling confirming the potential for a low-strip, open pit mining scenario; acquisition and refurbishment of a heap leach agglomeration plant; and exceptional gold recoveries of over 90% from column leach testwork on shallow oxide ore, with 60% recovered in 7 days and 80% in 14 days. The company also received environmental approval for Stage 1 open pit mining and heap leach operations, and commenced an 18,000m grade control drilling program at the Paleochannel project. Metallurgical testwork on deeper saprolite/transition ore is ongoing, with preliminary results indicating over 75% gold recovery. The company is progressing the remaining regulatory requirements and plans to operate a campaign mine, crush, agglomerate, and heap leach processing model, with open pit mining to be undertaken via an owner-miner operating model. The refurbishment of the acquired agglomeration plant is underway, and the company is advancing the permitting and development of the Stage 2 and 3 heap leach facilities.

OzAurum is focused on advancing the Mulgabbie North Gold Project toward near-term, low-cost heap leach gold production, with the company making significant progress on the Stage 1 open pit mining and heap leach processing during the quarter. The company is also progressing the permitting and development of the larger-scale Stage 2 and 3 heap leach facilities.