REZ Confirms Gold at Gigante Grande Southern Extension 1km Beyond Resource

Resources Energy Group has confirmed gold mineralisation at the Gigante Grande Southern Extension, located approximately 1km south of the existing Gigante Grande Mineral Resource. This drilling campaign marks a significant step in supporting Mining Lease Application MLA29/437 and positions the Southern Extension as a potential second resource area within the broader East Menzies Gold Project (EMGP), situated ~130km north of Kalgoorlie in the Wiluna–Norseman Greenstone Belt.

The company completed six RC holes for a total of 726m, drilled at -60° angles with azimuth varying by target. Gold mineralisation was intercepted in five of the six holes, with standout results from both the Central Domain and the Southern Extension confirming the large-scale, multi-zone nature of the Gigante Grande system.

What this drilling tells you is that Gigante Grande is not a single, isolated deposit. The Southern Extension results support the view of a coherent 7km mineralised trend with clear scope for a second Mineral Resource area. Confirming gold within a Mining Lease Application area is a key step towards potential future production options, and this campaign delivers exactly that.

Standout drilling results across Central Domain and Southern Extension

The February 2026 RC drilling programme targeted two distinct zones: the northern edge of the current Gigante Grande Mineral Resource and the Southern Extension 1km south. The results from both areas underline the system’s scale and near-surface potential.

Central Domain drilling supports growth north of the Mineral Resource

Central Domain drilling aimed to test the northern edge of the existing Mineral Resource and confirmed broad saprolite mineralisation with higher-grade shoots in fresh granodiorite. These results derisk the existing resource by confirming northern continuity and highlight the potential to grow the current ounce base.

Key intercepts from Central Domain include:

• 26GGRC049: 18m @ 0.65 g/t Au from 34m downhole, including 9m @ 1.10 g/t Au from 36m, and 1m @ 3.12 g/t Au from 98m
• 26GGRC050: 12m @ 0.59 g/t Au from 38m downhole, including 2m @ 2.39 g/t Au from 41m, and 1m @ 1.07 g/t Au from 60m

The interpretation is clear: broad near-surface saprolite zones with higher-grade shoots in fresh rock. The shallow nature of these intercepts (starting from mid-30m depth) is positive for potential open-pit scenarios and low strip ratios if the project advances. The widths and grades confirm northern continuity of the existing Mineral Resource, which is exactly the kind of drilling you want to see when testing extensions.

Southern Extension intercepts underline large-scale system potential

The Southern Extension drilling (four holes) confirms gold over a new area 1km south of the Mineral Resource, supporting the view of a long, coherent mineralised trend and the Mining Lease Application MLA29/437. The standout hole is 26GGRC046, which returned multiple mineralised zones over a 180m-long hole in both saprolite and fresh granodiorite.

Highlights:

• 2m @ 4.20 g/t Au from 152m in fresh rock (26GGRC046) — highest-grade intercept of the programme
• 2m @ 1.51 g/t Au from 111m (26GGRC046) — part of a 14m wide mineralised zone
• 1m @ 1.36 g/t Au from 95m (26GGRC048) — hole ended in mineralisation, suggesting continuity at depth

The intercepts in fresh rock, especially the 2m @ 4.20 g/t Au zone with an internal grade of 5.86 g/t Au, indicate robust primary mineralisation beyond weathered cover. This is the kind of result that supports the view of a second Mineral Resource area if follow-up drilling continues to align with current work.

26GGRC047 returned only low-grade zones, which tells you further work is required to determine extent and continuity. That is normal for exploration — not every hole hits.

Kota Paxi prospect adds further upside along 7km trend

Kota Paxi sits at the southern end of the 7km Gigante Grande Mineralised Trend. The company has now reported previously unreleased RC results from August 2023, which confirm gold mineralisation at the south end of the system.

Hole GGRC45 (August 2023) at Kota Paxi returned:

• 1m @ 1.00 g/t Au from 77m
• 1m @ 2.07 g/t Au from 87m
• Lower-grade intercepts (0.58 g/t Au, 0.24 g/t Au, 0.31 g/t Au) also recorded

What this tells you is that mineralisation persists along the full 7km strike, suggesting multiple potential resource centres within the EMGP. Kota Paxi is not a standalone anomaly — it is part of a larger system.

What this drilling means for the REZ investment case

The February 2026 drilling results synthesise into a clear investment narrative around scale, optionality, and near- to medium-term growth. Here is what the technical results mean for your exposure to REZ:

1. Northern extensions derisk and could expand the current Gigante Grande Mineral Resource. The Central Domain drilling confirms broad saprolite mineralisation with higher-grade shoots in fresh rock. This continuity to the north supports potential resource growth without requiring a leap into untested geology.

2. Southern Extension offers potential for a second Mineral Resource within MLA29/437. The standout intercepts from 26GGRC046 (2m @ 4.20 g/t Au, 2m @ 1.51 g/t Au) confirm gold over a new area 1km south of the existing resource. If follow-up drilling continues to support current work, this area is a compelling candidate for a separate Mineral Resource estimate.

3. **Kota Paxi and the broader *7km* trend support a district-scale, multi-deposit story.** The Kota Paxi results show mineralisation persists at the southern end of the Gigante Grande trend, which positions EMGP as a project with multiple potential resource centres rather than a single deposit.

4. REZ is positioned as both near-term producer and explorer growing longer-term ounces. The company is advancing near-term gold production through the Maranoa tribute mining joint venture with Rembrandt Mining, while building resource and exploration upside at Goodenough, Gigante Grande, and Granny Venn. The dual positioning gives you exposure to both production cashflow and exploration upside.

Gigante Grande Central Domain currently sits within an Exploration Target of 160koz to 500koz Au (JORC 2012). Other EMGP JORC Mineral Resources include Goodenough (61,200 oz Au), Granny Venn (3,000 oz Au), and Maranoa (8,000 oz Au).

Understanding gold RC drilling and why near-surface ounces matter

If you are new to reading drilling results, here is what you need to know about how REZ’s exploration programme works and why shallow mineralisation matters.

How to read a drilling intercept:

• “2m @ 4.20 g/t Au from 152m” means a 2-metre downhole interval, starting at 152 metres depth, averaged 4.20 grams of gold per tonne of rock.
• “including 1m @ 5.86 g/t Au” tells you that within that 2-metre zone, a 1-metre section averaged 5.86 g/t Au — this is the high-grade core within the broader intercept.
• Downhole length vs true width: The intercepts in this announcement are reported as downhole lengths (the length measured along the drill hole path). True width (the actual thickness of the mineralised zone perpendicular to its orientation) is typically less than downhole length, depending on the angle at which the drill hole intersects the mineralisation.

What is reverse circulation (RC) drilling?

RC drilling uses a face-sampling percussion hammer to bring rock chips to the surface through the drill rods. The chips are collected continuously, metre by metre, and logged for geology and sampled for assay. It is faster and cheaper than diamond drilling and is widely used in gold exploration to test targets quickly.

4-metre composites vs 1-metre resampling:

REZ’s exploration workflow uses a two-pass approach:

1. First pass: 4-metre composite samples are taken (combining four 1-metre intervals into a single sample) and sent for assay. This is a cost-effective way to identify anomalous zones quickly.
2. Second pass: If a 4-metre composite returns anomalous gold (typically >0.1 g/t Au), the individual 1-metre intervals within that composite are resampled and assayed. This gives higher-resolution grade data and allows the company to define precisely where the gold sits within the broader mineralised zone.

The February 2026 programme followed this workflow. Initial 4-metre composite sampling in February identified anomalous zones, then 1-metre resampling provided the higher-resolution grade data you see in the tables above.

Why 1-metre resampling adds confidence to the geological model

Resampling at 1-metre intervals allows geologists to pinpoint exactly where higher-grade zones occur within broader mineralised intervals. This precision is critical for resource estimation and mine planning. It also reduces the risk of missing narrow, high-grade shoots that could be diluted in a 4-metre composite sample.

Why near-surface ounces matter:

Shallow mineralisation (starting from <40m downhole) is typically cheaper to drill and potentially cheaper to mine if it becomes an open pit. The shallower the mineralisation, the lower the strip ratio (the amount of waste rock you need to move to access ore). Lower strip ratios mean lower mining costs, which improves project economics.

Consistent grades over multiple metres (rather than isolated “spikes”) contribute to potential mineable ounces. A 2-metre intercept at 4.20 g/t Au is more valuable than a 1-metre intercept at 8.40 g/t Au if the broader zone is continuous and predictable. Width matters as much as grade when assessing whether a zone can be mined economically.

JORC Mineral Resource vs Exploration Target:

• JORC Mineral Resource: A concentration of minerals in the Earth’s crust with reasonable prospects for eventual economic extraction, classified by confidence level as Inferred, Indicated, or Measured. Gigante Grande’s existing resource (1.39 Mt @ 0.91 g/t Au for 40,700 oz Au) is a JORC 2012 Mineral Resource.
• Exploration Target: A statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade, relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. Gigante Grande Central Domain has an Exploration Target of 160koz to 500koz Au. This is not a Resource — it is a target range based on early-stage exploration data.

Management commentary and next steps at Gigante Grande

Managing Director J. Daniel Moore’s commentary signals confidence in both near-resource extensions and new discovery potential at the Southern Extension. Here is what management sees coming next.

J. Daniel Moore, Managing Director

“We are very pleased with this latest round of results, with assays from multiple drill intercepts confirming mineralisation greater than 2 grams per tonne gold, and many of these less than 40m from surface. We feel there is still significant upside to come at Gigante Grande, with future drilling planned to complement this last campaign, which has confirmed extensions of gold mineralisation beyond the current mineral resource estimate.

While the multiple 2+ g/t Au results from our two drillholes at Gigante Grande give us confidence in expanding our known Mineral Resource, we are even more excited with the continued discovery of more gold in drilling at Gigante Grande Southern Extension. This area is located one kilometre south of our Gigante Grande Maiden Mineral Resource estimated late last year. It has every indication of being the next Mineral Resource, should future drilling align with our work to date. We continue to learn more about this large-scale Gigante Grande area, as we look to realise the potential of a near-surface mineralised system with 7km of known strike length.”

Moore also noted that the company will consider “drilling orientated diamond core in selected areas at Gigante Grande to better understand the host lithologies and the structural controls on mineralisation.” Diamond drilling provides oriented core samples, which allow geologists to map the precise orientation of structures, veins, and mineralisation — critical for understanding how gold is distributed and where to drill next.

What is planned next:

• Planning a broad exploration programme along the N–S extent of the Gigante Grande prospect
• Planning a small, orientated diamond core drill programme at Gigante Grande to improve understanding of structural and lithological controls
• Ongoing review of surface samples, drill data, geophysics, and LIDAR to assess lithological contact-related gold mineralisation

These programmes are upcoming catalysts you should watch. More assays, potential upgrade or expansion of Mineral Resources, and better structural understanding leading to targeted step-outs are all on the table. The combination of RC and planned diamond drilling should steadily increase geological confidence, which is what the market needs to see to support a higher valuation.

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