• Nagambie signs binding term sheet with Alkane for antimony-gold discovery
• Alkane to solely fund $12.5M for 60% interest or $27.5M for 80% interest
• Nagambie retains 100% of Whroo Mines and Wandean Gold-Antimony Projects

Nagambie Resources Limited (ASX: NAG) has successfully concluded negotiations with Mandalay Resources (a subsidiary of Alkane Resources, ASX: ALK) on the principal terms for a proposed earn-in and potential joint venture over Nagambie's antimony-gold discovery at the Nagambie Mine. A binding Term Sheet was signed on 30 January 2026. The agreed principal terms include two earn-in options for Alkane: (1) solely fund $27.5M within 5 years to earn an 80% interest, or (2) solely fund $12.5M within 3 years to earn a 60% interest, with Nagambie retaining the remaining 20% or 40% respectively. The forming of a Joint Venture will occur on completion of either earn-in option pathway. Conditions precedent include satisfactory completion of due diligence by Alkane, the execution of a formal Farmin Agreement and Nagambie shareholder approval. Following the signing of the binding Term Sheet, Nagambie commenced preparations and negotiations to satisfy the conditions precedent. Nagambie retains 100% of the Whroo Mines Gold-Antimony Project and 100% of the Wandean Gold-Antimony Project.

Nagambie and Alkane have commenced the earn-in period for the proposed joint venture, which will greatly speed up the development and production of the Antimony-Gold Project given Alkane's expertise and existing infrastructure.