Announcement PDF \ www.adavaleresources.com Adavale Resources Limited Level 2, 49 Oxford Close West Leederville, WA, 6007 Directors & Officers ALLAN RITCHIE Executive Chairman & CEO DAVID WARD Managing Director NIC MATICH Non-Executive Director LEONARD MATH CFO & Company Secretary ASX: ADD Adavaleresources AdavaleL Investors@adavaleresources.com +61 2 8003 6733 ASX ANNOUNCEMENT 30 January 2026 Quarterly Activities Report For the quarter ended 31st December 2025 Highlights • High-conviction Phase 2 RC drilling program at the London-Victoria Mine completed: Program consisting of 12 holes for 2,411 metres, targeting extensions to gold mineralisation beneath the existing open pit and outside the current JORC 2012 Mineral Resource Estimate (MRE). • Highest-grade gold intercepts to date at London-Victoria: Highlights include 14m @ 2.62g/t Au and 23m @ 1.64g/t Au, from the first 5 holes with results from additional holes pending adding further conviction to the near term production opportunity. • Strengthened executive leadership: Appointment of Mr David Ward as Managing Director, bringing over 30 years of exploration, development and operational experience within the Lachlan Fold Belt. • Geological understanding of the London-Victoria deposit continues to advance: Completion of an independent structural geology study and integration of historic BHP Gold grade control data; identifying stacked mineralised zones and confirming the mineralised system remains open at depth, down plunge and along strike. • Continued progression of regional and greenfields exploration across the wider Parkes Project: Completion of ground magnetic surveys and reconnaissance rock chip sampling at priority prospects including Corner and Parkvale South. • Secured 100% Native Title consent across Marree Uranium Project: Materially de- risking the South Australian project and enabling future exploration and drilling activities. Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “This has been yet another critical period for Adavale as we continue to progress with unlocking the great potential we see at the Parkes Project. The completion of our Phase 2 drilling campaign at London- Victoria, further bolstered by the work we have done in advancing our structural understanding of the deposit, has further reinforced the confidence we have in the scale and continuity of the mineralisation beyond the exiting resource at the site. The appointment of Mr David Ward as our new Managing Director has also strengthened our technical and operational capability at this important next stage for Adavale. We are excited to see his hands-on leadership demonstrated to shareholders, with the swift and systematic exploration work we have already carried out this Quarter. With Phase 1 drilling assays delivering the widest intercept in 30 years at London-Victoria, followed up with post-quarter Phase 2 drilling assays giving our highest gold grade intercepts to date, continue to strengthen our near term production strategy. The Company remains confident that our pipeline of follow-up work we have planned for CY2026 will build on the momentum we have already achieved and carry-on into this next key phase.” 2 Adavale Resources Limited (ASX:ADD) (“Adavale” or the “Company”), is pleased to report on its activities for the quarter ended 31 December 2025 (the “Quarter”). Overview of Operations During the December 2025 Quarter, Adavale has made substantial operational progress in achieving several major exploration milestones across its flagship Parkes Gold and Copper Project (“Parkes Project”), located in the Lachlan Fold Belt of New South Wales. Activities during the Quarter were primarily focused around advancing the London-Victoria Gold Mine (“London- Victoria”) on EL7242, through technically driven drilling activities and related structural studies and mapping. In addition, the progressing of high-priority greenfields prospects has occurred, as well as strengthening the Company’s Management Team and Board of Directors to support accelerated exploration work moving into CY2026. Figure 1: RC Drilling at the London-Victoria Gold Mine, looking North Parkes Gold and Copper Project – Lachlan Fold Belt, NSW London Victoria Gold Mine On 17 November 2025, Adavale announced the completion of a detailed independent structural geology study at London-Victoria, coupled with the recovery and analysis of historic BHP Gold grade control data obtained from the site. This work was led by independent structural geologist Ian E. Neilson MSc, and represents the first modern structural study that has been undertaken at London-Victoria since mining operations ceased in the 1990s. The study has identified a major east-dipping shear and associated anticline as the primary control for gold mineralisation over a 1.5km strike length at London-Victoria. This interpretation also highlights the potential for fold repeats and stacked mineralised zones at depth, plunging to the south and further indicating significant upside potential for resource growth extending beyond London-Victoria’s existing Mineral Resource Estimate (3.14Mt at 1.06g/t Au for 107,000 oz). 3 Figure 2: Schematic Structural Geology cross section looking north for the southern portion of the London Victoria Pit; demonstrating a parasitic fold on the east dipping limb of a larger anticlinal fold (preliminary interpretation pending further structural studies) Red > 1.0g/t Au, Yellow = 0.5 - 1.0g/t Au Figure 2: Some of the scanned and registered historic grade control maps (BHP Gold & Hargraves Resources, late 1980s– 1990s) overlayed on aerial photography of the London-Victoria open pit. Red > 2.0g/t Au, Yellow = 1.0 - 2.0g/t Au, Blue = 0.5 - 1.0g/t Au, Green <0.5g/t Au. Each small grid square represents 1m². 4 On 3 December 2025, Adavale also announced the commencement of its high-conviction Phase 2 reverse circulation (“RC”) drilling program at London-Victoria Mine. This drilling was designed to test for extensions to mineralisation beneath the southern portion of the existing open pit at the mine and also to follow-up results from the Company’s successful Phase 1 drilling campaign that took place earlier in the year. Drill targeting for this campaign was informed by the newly completed 3D structural geology model and was intended to evaluate potential growth beyond the current JORC mineral resource footprint. The drill program was completed on 18 December, with a total of 2,411m drilled across 12 holes. Drill targets from the Phase 2 drilling program (Figure 3) were selected with the overall objective of growing the Mineral Resource Estimate (“MRE”) at London-Victoria. Phase 2 drilling has focused on testing the gold mineralised zone immediately below the pit floor and targeting extensions to the mineralisation seen in ALRC014 (Figure 4) within the mineralised shear corridor, including a >1g/t Au mineralised zone (illustrated in red, Figure 4). ALR014 intersected 48m at 0.82g/t Au from 133m (including 25m at 1.2g/t Au from 144m), approximately 100 m below London-Victoria’s pit floor and located well outside the current JORC resource area. Figure 3: London-Victoria Gold Mine – Location of Completed Phase 1 and 2 Drilling Programs 5 Figure 4: ALRC014 from Phase 1 Drilling intersected the mineralisation ~100m below the pit floor at The London-Victoria Gold Mine. Section B-B1 Subsequent to Quarter end, the Company announced the highest grade gold drilling intercepts to date, including 14m at 2.62g/t Au from 133m (hole ALRC018) and 23m at 1.64g/t Au from 142m (hole ALRC020), including higher-grade intervals of up to 2m at 5.17g/t Au. These initial results were received from five of the twelve holes drilled, with assays pending for a further seven holes totalling 1,476 metres. The recent results confirm the robustness and continuity of gold mineralisation beneath the existing pit at London-Victoria. Consistent gold grades over wide intervals further demonstrate and confirm that the mineralised system remains open at depth, down plunge and along strike. Results from the current program will be used to guide further drilling campaigns, including an imminent Phase 3 program aimed at increasing the gold inventory, along with supporting the planning for metallurgical assessments and related scoping studies being scheduled for CY2026. 6 Figure 5: Section C-C’ Displaying position of ALRC018 Intercept in Cross Section (red arrow indicating mineralisation is open at depth) Strong foliation in the host rocks at London-Victoria cause significant unavoidable deviation in the drillhole paths; this is taken into account when planning drillholes. In this case, ALRC017 and ALRC018 whilst collared in different positions ended up intersecting the mineralised shear zone in a similar position. 7 Figure 6: Section A-A’ Displaying position of ALRC020 Intercept in Cross Section (red arrow indicating mineralisation is open at depth) 8 Figure 7: Section B-B’ Displaying position of ALRC025 Intercept in Cross Section NOTE: Red arrow on the long section above indicate the possible plunge orientation showing the mineralisation open along strike and down plunge to the north and south 9 GREENFIELDS AND REGIONAL PROSPECTS – PARKES PROJECT During the Quarter, Adavale continued advancement of greenfields exploration activities and assessment across the Parkes Project, simultaneous with drilling campaign completion announced at London-Victoria. Ground magnetic surveys were completed over the Corner Prospect (EL8831), with processing and interpretation currently pending. Reconnaissance rock chip sampling at Corner returned multiple gold-bearing quartz vein samples, with some assays exceeding 1g/t Au. Best results include 1.16g/t Au, 1.82g/t Au and 1.55g/t Au, which highlights the prospectivity of the target over a wide area. The gold bearing veined samples are exposed at surface within sub-cropping metasediments and display multiple overprinting vein textures, suggestive of a long lived and fertile hydrothermal system. This is noteworthy, as the Corner Prospect lies on a direct line half-way between a porphyry Cu-Au deposit (Northparkes) and a high-sulphidation epithermal deposit (Peak Hill). Figure 8: Corner Prospect EL8831 – Rock chip samples on aerial photo displaying recently completed ground magnetic survey (hatched). On EL8830, ground magnetics have now been completed subsequent to the Quarter end at the highly prospective Parkvale South Prospect, which has previously returned rock chip assays up to 22.2g/t Au.1 Work at Corner and Parkvale South are part of a systematic and continual evaluation of the multiple greenfields prospects through the Parkes Copper-Gold Project Area that will continue into the New Year. 1 Refer to ASX announcement, “Parkvale South Prospect Returns 22.2g/t Au Rock Chip”, 21 May 2025 10 SOUTH AUSTRALIAN URANIUM PROJECTS On 22 October 2025, Adavale announced that it had secured 100% Native Title consent across its Marree Uranium Project in the state of South Australia. The Company detailed that it has executed a Native Title Mining Agreement with The Dieri Aboriginal Corporation and received consent from the Adnyamathanha Traditional Lands Association, with execution of the remaining agreement said to be expected imminently at the time of the announcement. While Adavale’s primary operational focus during the Quarter and currently remains to be on the Parkes Project, the completion of Native Title agreements materially de-risks the South Australian uranium project as part of the Company’s broader portfolio, also positioning the Project for future advancement. Adavale acknowledges the Adnyamathanha and Dieri as Traditional Custodians of the land on which our current works are located. With respect to Elders past, present and emerging, Adavale is committed to conducting its activities with respect to the communities in which it operates. Figure 9: Location map of Adavale’s Maree Project in relation to the Adnyamathanha and Dieri native title Determination Areas 11 Figure 10: Adavale’s Maree Project relative to Beverely & the Four Mile Mine Kabanga Jirani Nickel Project and Luhuma Nickel Project (Tanzania) No significant exploration activities were undertaken during the Quarter. The Company continues to plan for a resumption of exploration activities once the nickel market recovers. 12 CORPORATE Transformational appointment – Managing Director On 27 October 2025, Adavale announced the appointment of Mr David Ward as Managing Director of the Company, effective as of 17 November 2025. Mr Ward transitioned from his existing role with Adavale as Non-Executive Technical Director, stepping into the executive position at a pivotal time for the Company as it accelerates exploration activities across the Parkes Project, thanks to his expertise and experience in the Lachlan Fold Belt region of New South Wales. Mr Ward brings more than 30 years of industry experience spanning early-stage exploration, project development and mining operations. His experience across the Lachlan Fold Belt includes roles with Hargraves Resources, the last operator of the London-Victoria Gold Mine, and Newmont’s Cadia Gold Mine. There, he was involved in production and resource definition activities for Newmont. Dr Ward has also conducted porphyry gold-copper exploration across major Ordovician intrusive centres including Northparkes, Narromine, Wellington and Lake Cowal. In the announcement, Mr Ward’s experience was highlighted for being instrumental in defining approximately 950,000 ounces of gold resources for Bacchus Resources, and he has been involved in the development of multiple exploration assets that were later incorporated into ASX-listed companies. Since assuming the role of Managing Director, Mr Ward has directly led the Phase 2 drilling program at London-Victoria taking place throughout the Quarter, as well as overseen the advancement of greenfields exploration activities at the broader Pakes Project area and targets (e.g., the Corner and Parkvale South Prospects). Summary of Cashflow for the Quarter Adavale held cash reserves at the end of the quarter of approximately $1.27m. During the quarter, payment to related parties of the Company and their associates during the quarter was $35,000 (as shown at 6.1), which includes director and consulting fees. These payments were paid in accordance with the directors’ contracts. During the quarter, the Company spent approximately $471,000 on exploration and evaluation activities as per the table below. There were no substantive mining production and development activities during the quarter. Project Nature of expenses Amount $ Parkes Gold and Copper Project Geophysics 92,000 Geological and other consultancy services 34,000 Travel and field expenses 19,000 Drilling and assay costs 19,000 Annual rent and rates 5,000 Other 5,000 Sub-total 174,000 Uranium Projects (South Australia) Tenement management fees 1,000 Annual rent and rates 41,000 13 Geological and other consultancy services 10,000 Heritage/Native title expenses 105,000 Sub-total 157,000 Kabanga and Luhuma Nickel Project Project administration and compliance expenses 51,000 Geology consultants, field workers and other staff salaries 62,000 Annual rent and rates 23,000 Travel expenses 4,000 Sub-total 140,000 TOTAL EXPLORATION AND EVALUATION EXPENDITURE 471,000 This announcement is authorised for release by the Board of Adavale Resources Limited. Further information: Allan Ritchie Executive Chairman and CEO Adavale Resources E: investor@adavaleresources.com P: +61 2 9127 9852 David Ward Managing Director Adavale Resources E: investor@adavaleresources.com P: +61 2 9127 9852 Jane Morgan Media and Investor Inquiries Jane Morgan Management E: jm@janemorganmanagement.com.au P: +61(0) 405 555 618 Forward Looking Statements Certain statements in this announcement are or may be “forward-looking statements” and represent Adavale’s intentions, projections, expectations, or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward-looking statements don’t necessarily involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Adavale Resources, and which may cause Adavale Resources actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this announcement is a promise or representation as to the future. Statements or assumptions in this announcement as to future matters may prove to be incorrect and differences may be material. Adavale Resources does not make any representation or warranty as to the accuracy of such statements or assumptions. 14 Competent Persons Statement The information in this document that relates to exploration results on the London Victoria Mine is based on information compiled by David Ward BSc, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AUSIMM), (Member 228604). David Ward has over 25 years of experience in metallic minerals mining, exploration and development and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertakingto qualify as a ‘Competent Person’ as defined under the 2012 Edition of the ‘Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves’. Mr Ward consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Barry Willott, who is employed by Desdinova Metals Pty Ltd as consultant to Adavale Resources Ltd. Mr Willott is a Member of The Australian Institute of Geoscientists (AIG) and The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Willott has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Willott consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. ASX Announcement References • 20 January 2026: Highest Grade Intercept at London Victoria • 22 December 2025: High Conviction Drilling Completed • 3 December 2025: High Conviction Phase 2 Drilling Underway at London-Vic • 17 November 2025: Major Resource Growth Uncovered at London-Vic • 27 October 2025: Transformational Appointment to Drive Gold & Copper Growth • 22 October 2025: 100% Native Title Consent for Marree Project Achieved The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. London Victoria JORC 2012 Mineral Resource Estimate at 31 December 2025 Information on the Mineral Resources presented on the London-Victoria deposit is contained in the ASX announcement dated 5 May 2025. Where the Company refers to Mineral Resource in this presentation, it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed. The Company confirms that the form and context their with JORC Table 1 in which the Competent Person’s findings are presented have not materially changed from the original announcement. 15 Schedule of Mining Tenements and Beneficial Interests Held as at the end of the December 2025 Quarter Project/Location Country Tenement Percentage held/earning Parkes Gold-Copper Project Australia EL7242 72.5% EL8830 72.5% EL8831 72.5% EL9711 72.5% EL9785 100% Kabanga Jirani Nickel Project Tanzania Kabanga West (PL11590/2021) 100% Kabanga North (PL 11405/2020) 100% Kabanga North East (PL 11406/2020) 100% Kabanga East (PL 11591/2021) 100% Ruiza NE (PL 11592/2021) 100% Kabanga South East (PL11886/2022) Southeast Wedge (PL12175/2023) 100% 100% Luhuma Central (PL12350/2023) 100% Luhuma Nickel Project Tanzania PL11692/2021 65% PL11693/2021 65% The Company entered into a Farm-In Agreement to earn up to 100% of the Luhuma Nickel Project. The Company currently has achieved a 65% interest in the project on 8 February 2023. Nachingwea Prospect Tanzania PL11887/2022 100% Lake Surprise Uranium Project Australia EL5892 EL5893 EL6598 100% Maree Embayment Uranium Project Australia EL6821 EL6957 EL6890 100% MacDonnell/George Creek Uranium Project Australia EL6533 100% Narlaby and Tolmer Uranium Project Australia EL7014 EL7024 EL7026 EL7025 100% Yalgoo Project (Western Australia) Australia EL59/2931 100% 16 ABOUT ADAVALE RESOURCES Exploring for Gold and Copper in the NSW Lachlan Fold Belt, Uranium in South Australia, and Nickel Sulphide in Tanzania. The Parkes Project Adavale Resources Limited (ASX:ADD) tenements span ~371km2 including 100% of EL9785 and a 72.5% interest in the Parkes Gold and Copper Project, consisting of four granted exploration licences that are highly prospective for Au-Cu, primarily due to their location adjacent the giant Northparkes copper-gold mine and encompassing the Ordovician-aged rocks of the Macquarie Arc, within the crustal-scale structure of the Lachlan Transverse Zone (LTZ) that contain both Northparkes and the world-class Cadia gold-copper Mine. South Australian Uranium Portfolio Adavale also holds 11 granted exploration licences that are prospective for their sedimentary uranium potential. 7 are held within the northern part of the highly- prospective Northern outwash from the Flinders Ranges in South Australia, as well as 4 granted exploration licence east of Ceduna on the Eyre Peninsula, increasing Adavale’s uranium tenement holdings to 4,959km2 . The Kabanga Jirani Nickel Project Adavale also holds the Kabanga Jirani Nickel Project, a portfolio of 13 highly prospective granted licences along the East African Nickel belt in Tanzania. The nine southernmost licences are proximal to the world class Kabanga Nickel Deposit (87.6Mt @ 2.63% Ni Eq). Adavale holds 100% of all licences except for two licences that are known as the Luhuma-Farm-in, which are held at 65%, adding a further 99km2 and bringing the portfolio to 1,315km2 . Adavale’s licences were selected based on their strong geochemical and geophysical signatures from the previous exploration undertaken by BHP. Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity quarterly cash flow report Name of entity ADAVALE RESOURCES LIMITED ABN Quarter ended (“current quarter”) 96 008 719 015 31 December 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 1. Cash flows from operating activities - - 1.1 Receipts from customers 1.2 Payments for (471) (1,242) (a) exploration & evaluation (b) development - - (c) production - - (d) staff costs (56) (122) (e) administration and corporate costs (219) (523) 1.3 Dividends received (see note 3) - - 1.4 Interest received - - 1.5 Interest and other costs of finance paid (15) (15) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (GST (Paid)/Received) 59 1 1.9 Net cash from / (used in) operating activities (702) (1,901) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (66) (66) (d) exploration & evaluation - - (e) investments - - (f) other non-current assets (Bonds) (10) (10) Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 2.2 Proceeds from the disposal of: - - (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash from / (used in) investing activities (76) (76) 3. Cash flows from financing activities 17 3,106 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - (141) 3.5 Proceeds from borrowings 87 87 3.6 Repayment of borrowings (1) (1) 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (provide details if material) - - 3.10 Net cash from / (used in) financing activities 103 3,051 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 1,948 201 4.2 Net cash from / (used in) operating activities (item 1.9 above) (702) (1,901) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (76) (76) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 103 3,051 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 4.5 Effect of movement in exchange rates on cash held (2) (4) 4.6 Cash and cash equivalents at end of period 1,271 1,271 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 1,271 1,948 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 1,271 1,948 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 35 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 87 87 7.2 Credit standby arrangements - - 7.3 Other (Convertible Notes) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Motor Vehicle (Mine spec) Finance Lender: Maple Finance Repayment schedule: 60 monthly instalments Loan amount: Principal ($72k) and interest ($15k) 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (702) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - 8.3 Total relevant outgoings (item 8.1 + item 8.2) (702) 8.4 Cash and cash equivalents at quarter end (item 4.6) 1,271 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 1,271 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 1.81 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Yes. 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? The Company confirms that it currently has sufficient funding to continue operating for the next 2 quarters. If required, the Company will be able to conduct a capital raising via placement of shares. The Board and Company has previously successful raise funds through equity placement. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8.8.3 Does the entity expec