• 46% increase in Mineral Resource at Radio Gold Project to 41,000 ounces
• Approximately 50% of Mineral Resource now classified as Indicated
• Acquisition of Princess Royal and option over Stumpy Doodle Gold Mines

WIN Metals reported a substantial 46% upgrade to the Mineral Resource Estimate at the Radio Gold Project, increasing the contained gold to 41,000 ounces at 3.70 g/t Au. Approximately 21,000 ounces or 50% of the updated resource is now classified as Indicated, materially improving geological confidence and providing a stronger platform for mine design and early-stage economic assessment. The program also delivered maiden Mineral Resource Estimates for the Repeater, Radio South and Green Harp domains, adding approximately 12,900 ounces and demonstrating the broader scale potential of the Radio mineralised system. Detailed mine planning, scheduling and development studies have commenced, leveraging existing underground infrastructure and largely unmined near-surface mineralisation, with further drilling and approvals work aimed at supporting a potential development decision by end of Q2 2026. During the Quarter, WIN also executed two value-accretive gold transactions that materially enhanced the scale and optionality of the broader Radio Gold Project. The company acquired the fully permitted Princess Royal Gold Mine, which has an Exploration Target of 26,000-40,000 tonnes at 8.0-12.0 g/t Au for 7,000-15,000 ounces, and secured an exclusive 12-month option over the high-grade Stumpy Doodle Gold Mine, situated 10 km north of Radio. Immediate work programs are being advanced, with drill planning underway at Princess Royal and exploration scheduled to commence at Stumpy Doodle during the option period, collectively increasing the Project's potential high-margin ore sources and strengthening development flexibility for future processing and production scenarios.

WIN is now well placed to advance a scalable, high-grade gold project in the Southern Cross Goldfields, with the 46% increase in Mineral Resource and the acquisition of Princess Royal and Stumpy Doodle providing a strong platform to assess a development decision in Q2 2026.