Quarterly Activities and Cashflow Report

• +3,000m of RC drilling completed at the Goongarrie Project, testing Duke of York, Duchess and Mason's Flat prospects
• Initial 4m composite assay results confirm high-grade gold continues at depth at Duke of York
• Ground gravity survey commenced at Goongarrie's Sir Laurence prospect

During the March 2026 quarter, Cazaly Resources Ltd focused on exploration at the Goongarrie Gold Project in Western Australia, commenced landowner negotiations in Namibia, and continued generative and corporate activities. Key highlights include: +3,000m of RC drilling completed at the Goongarrie Project, testing Duke of York, Duchess and Mason's Flat prospects; initial 4m composite assay results confirming high-grade gold continues at depth at Duke of York; and commencement of a ground gravity survey at Goongarrie's Sir Laurence prospect. The Company also received the grant of an exclusive prospecting licence for the Abenab North Copper, REE & Base Metals Project in Namibia, and continued to explore commercial opportunities for its Halls Creek Copper-Zinc-Silver Project in Western Australia. Additionally, the Company provided updates on its non-managed joint venture projects, including Mt Venn and McKenzie Springs, as well as its royalty projects.