Quarterly Activities/Appendix 5B Cash Flow Report

• High-grade gold mineralisation identified 120m west of Vadrians lode.
• Initial metallurgical testwork achieved up to 94% gold recovery.
• Completed divestment of 75% Chobe Project interest for A$2.7 million.

Caprice Resources Ltd reported significant progress in its Island Gold Project in Western Australia. The company identified high-grade gold mineralisation approximately 120 meters west of the Vadrians lode, with assay results showing up to 124.7 g/t gold. Initial metallurgical testwork on Vadrians samples achieved up to 94% gold recovery. Additionally, Caprice completed the divestment of a 75% interest in the Chobe Project for A$2.7 million, enhancing its financial position for ongoing exploration activities.

No specific financial metrics provided

The company remains focused on exploration and resource-definition activities across its priority gold portfolio in the Murchison region. Future activities include further drilling at Vadrians, New Orient, Iron Clad, and other emerging targets, with the aim of expanding the mineralised footprint and refining the geological model.