• Substantial technical progress on Kalgoorlie Nickel Project - Goongarrie Hub Definitive Feasibility Study
• Goongarrie Hub included in Japan-U.S. Critical Minerals Project Cooperation framework
• Ardea completes A$5 million placement, remains in strong financial position

Ardea Resources Limited (ASX: ARL) is pleased to report on the key activities and progress made during the March 2026 Quarter, including updates in relation to the Kalgoorlie Nickel Project (KNP) - Goongarrie Hub Definitive Feasibility Study (DFS). The Company maintained momentum across the Goongarrie Hub, with substantial technical workstream progress, ongoing DFS report drafting, and value engineering refinement. The inclusion of the Goongarrie Hub within the Japan-U.S. Critical Minerals Project Cooperation framework, alongside coordinated support from Export Finance Australia and the Export-Import Bank of the United States, highlights the Project's strategic importance in building secure and resilient Critical Minerals supply chains. Ardea also completed a successful A$5 million placement and remains in a strong financial position with $19.75 million cash on hand and no debt. The current DFS is being solely funded by the Japanese Consortium to A$98.5 million. Key activities during the quarter included zero lost time injuries, progress on the Mineral Resource Estimate and Ore Reserve, hydrogeological and geotechnical studies, metallurgical testwork, and advancement of the process plant and non-process infrastructure design.

Ardea is targeting completion of the draft DFS report in the first half of CY2026, with the schedule subject to ongoing value engineering inputs and finalisation of remaining technical workstreams.