• Cobalt Blue completed targeted core sampling at Halls Creek.
• The program aims to optimize Stage 1 heap leach flowsheet.
• Potential for combined Onedin-Sandiego heap leach configuration.
• Evaluation of silver recovery as an additional value driver.
• Updated Scoping Study targeted for Q4 2026.

Cobalt Blue Holdings Ltd has completed a targeted core sampling program at its Halls Creek Project in Western Australia, initiating metallurgical testwork to optimize the Stage 1 heap leach flowsheet and assess a potential combined Onedin-Sandiego heap leach configuration. Approximately 870 kg of material from the Onedin and Sandiego deposits has been collected to support optimization of the flowsheet and assessment of silver recovery. The program will also assess the potential recovery of silver through the Stage 1 heap leach flowsheet, an opportunity not contemplated in the June 2025 Scoping Study. Cobalt Blue has achieved the minimum expenditure threshold necessary to retain its 51% beneficial interest in the Project and has exercised its right to earn an additional 24% interest by incurring an additional A$1.5 million of expenditure by 30 June 2028. The updated Scoping Study is targeted for completion in Q4 2026, after which the Company intends to progress the Project to a Pre-Feasibility Study.

Updated Scoping Study targeted for completion in Q4 2026

Cobalt Blue aims to optimize the Stage 1 heap leach flowsheet and assess a potential combined Onedin-Sandiego heap leach configuration, with the updated Scoping Study targeted for completion in Q4 2026.