Quarterly Activities Report

• Net revenue from metal sales of $24.8m
• All-in-sustaining cost of A$3,128/oz
• Operating cash flow increased 264% to $11 million

Kingston Resources delivered a strong financial and operational performance this quarter, highlighted by a 264% increase in operating cash flow to $11 million and continued revenue growth supported by record gold and silver prices. The company achieved a material uplift in feed grades from the Pearse South open pit, which, combined with strong pricing, drove a significant increase in silver revenue. While ongoing management of the Pearse South pit wall slowed access to some high-grade ore, the company made substantial progress in advancing its underground operations, including the successful delivery and processing of first copper-gold development ore and production of an initial copper concentrate, marking a key milestone in the transition toward a combined precious and base metals future. Looking ahead, lower waste movement, higher expected grades and recoveries, and continued strength in commodity prices provide a clear pathway to stronger margins and cash generation. Kingston is well positioned to deliver sustained operational performance and long-term value for shareholders.

Net revenue from metal sales of $24.8 million for the quarter. All-in-sustaining cost of A$3,128/oz.

With lower waste movement, higher expected grades and recoveries, and continued strength in commodity prices, Kingston is well positioned to deliver stronger margins and cash generation in the future.