• Successful ramp-up of mining operations at the Mt Dimer Taipan Gold Project
• Exceptional high-grade drilling results across gold and critical minerals portfolio
• Milestone achievement with international patent filing for Direct Rubidium Extraction technology

Everest Metals Corporation Ltd (ASX: EMC) ('EMC' 'Everest' or 'the Company') is pleased to provide the following review of activities for the quarter ended 31 March 2026. The Company continued its strong momentum from the previous quarter, with successful ramp-up of mining operations at the Mt Dimer Taipan Gold Project, delivery of exceptional high-grade drilling results across its gold and critical minerals portfolio, and a major intellectual property milestone at Mt Edon. At the Mt Dimer Taipan Gold Project, mining operations progressed strongly under the Right to Mine Agreement with MEGA Resources, with more than 45,000 tonnes of mineralised material delivered to the ROM pad. A 2,160 m infill RC grade-control drilling program delivered bonanza-grade intercepts and increased geological confidence in the current pit. At the Mt Edon Critical Mineral Project, Phase 2 resource upgrade and expansion drilling returned further high-grade rubidium results, including a peak assay of 0.67% Rb2O. The Company also successfully completed the CSIRO Kick-Start rubidium characterisation project and lodged an international patent application for its innovative Direct Rubidium Extraction (DRE) technology. At the Revere Gold Project, a 6,088 m aircore drilling program delineated multiple shear-hosted zones and confirmed continuous regional gold mineralisation along the ~6 km Revere Reef system.

The Company is advancing the Mt Edon Critical Mineral Project toward development, with a resource upgrade expected in Q2 2026 and the Mining Proposal assessment process underway. At the Mt Dimer Taipan Gold Project, the Company is targeting an updated Mineral Resource Estimate in Q2 2026 and the commencement of toll-treatment processing. The Revere Gold Project is progressing toward a maiden JORC Mineral Resource Estimate in Q2 2026, with follow-up drilling planned to test high-priority untested targets.