• The 2025 High-Grade Scandium Mineral Resource Estimate increased from 3.7mt to 6.3 mt
• 98% of the 2025 MRE is classified as Measured and Indicated
• 90% of the 2025 MRE is located within 50m of surface

Australian Mines Limited ('Australian Mines', 'the Company' or 'AUZ') is pleased to announce a significant increase of the JORC 2012 Mineral Resource Estimate ('MRE') at Flemington. The 2025 High-Grade (JORC 2012) Scandium Mineral Resource Estimate (300 ppm scandium cut-off) increased from 3.7mt to 6.3 mt, for similar scandium grades of 458 ppm and 446 ppm respectively. The resource modelling indicates the potential for significant additional mineralization at lower cut-offs, with a total mineralised inventory of 28mt @ 217 ppm scandium (inclusive of laterite and saprolite) compared to 4.5mt @ 415 ppm scandium reported in 2017. 98% of the 2025 MRE is classified as Measured and Indicated, and 90% is located within 50m of surface. In addition to the contained scandium, the 2025 MRE has nickel and cobalt grades of 1350 ppm and 601 ppm respectively. Given the significant increase in the 2025 MRE, AUZ intends to re-consider the mining and metallurgical factors to optimise potential production scenarios.

AUZ's CEO, Andrew Nesbitt commented 'The 2025 resource update not only confirms Flemington as a high-quality critical mineral resource but also as one of the best defined and highest-grade scandium resources within the area. This coupled with the near surface- lateritic nature of the resource should provide AUZ a competitive advantage'