Kuniko Ltd Drilling Preparations Target Five Priority Commonwealth Prospects

Comprehensive Sampling Program Delivers Strategic Coverage

Kuniko Ltd drilling preparations have systematically covered two key prospects within the broader Commonwealth system, demonstrating the company's methodical approach to exploration.

Geenobby Prospect (EL8252):

• 280 soil samples collected across areas previously delivering rock-chip results of 9.5 g/t Au and 215 g/t Ag
• Full land access agreements secured for continued exploration
• Five reconnaissance rock-chip samples gathered from outcrop exposures

Gladstone West Prospect (EL8505):

• 140 soil samples completed from planned 352-sample grid
• Targeting prominent two-kilometre magnetic destruction zone
• Historical high-grade rock-chip assays include 9.9 g/t Au, 3.2% Cu, and 2,550 g/t Ag

The soil sampling employed industry-standard methodology with 50-metre sample spacing on 100-metre line spacing, targeting the B-horizon at approximately 30cm depth. This systematic approach ensures comprehensive coverage while maintaining cost-effectiveness for early-stage exploration.

Laboratory results from ALS Orange are expected in mid-December, providing critical geochemical vectors to refine drill targets ahead of the maiden drilling programme.

Understanding VMS-Epithermal Systems: A Geological Primer

Volcanogenic Massive Sulphide (VMS) deposits represent one of the most valuable exploration targets in modern mining. These systems form when hot, metal-rich fluids from underwater volcanic activity create concentrated zones of sulphide minerals containing gold, silver, copper, lead, and zinc.

The Commonwealth Project's VMS-epithermal hybrid characteristics are particularly significant for investors. This geological setting combines the base metal richness of VMS systems with the high-grade precious metal potential of epithermal deposits.

Similar hybrid systems globally, such as Canada's Eskay Creek, have produced exceptional grades and substantial economic returns. For investors, this geological context suggests the potential for both bulk tonnage base metal resources and high-grade precious metal zones within the same system.

This combination can significantly enhance project economics through diversified revenue streams. Furthermore, the geological understanding supports Kuniko Ltd drilling preparations by providing clear targeting criteria for the upcoming programme.

Historical Results Support Robust Drilling Strategy

Kuniko has now formally released comprehensive historical assay data under ASX Listing Rule 5.7, providing a substantial database of 87 drill holes, systematic soil sampling, and rock-chip results spanning 2016-2023. This historical foundation offers compelling evidence of system-wide mineralisation:

Selected Historical Drilling Highlights:

Rock-Chip Sample Highlights:

• 17.0 g/t Au at Welcome Jack North
• 9.5 g/t Au and 215 g/t Ag at Geenobby
• 9.9 g/t Au, 3.2% Cu and 2,550 g/t Ag at Gladstone

The data reveals consistent high-grade mineralisation across multiple prospects, with 5km-long multi-element anomalies and coherent geochemical signatures supporting the presence of a substantial mineral system. In addition, these results provide the technical foundation for current Kuniko Ltd drilling preparations.

Drilling Campaign Takes Shape with Five Priority Targets

Kuniko has identified five priority areas for its Phase-1 drilling programme across Commonwealth Main, Silica Hill, and Commonwealth South. The company has commenced competitive tendering with drilling contractors, emphasising capability, safety performance, and regional experience.

Key drilling preparations include:

• Contractor engagement process underway with multiple qualified groups
• Integration of surface geochemistry, airborne EM data, and historical drilling results
• Updated target ranking based on comprehensive geological review
• Drill access planning progressing with landholder coordination

The systematic approach to contractor selection and target refinement demonstrates management's commitment to maximising drilling success while maintaining operational efficiency. However, these Kuniko Ltd drilling preparations extend beyond contractor selection to encompass comprehensive technical integration.

Antony Beckmand, CEO, commented:
"Completion of the soil sampling programmes at Geenobby and Gladstone West represents another important step in advancing our understanding of the broader Commonwealth system. We now have geochemistry, geophysics and detailed mapping all progressing in parallel, and the historical assay results now fully incorporated into our technical database, which puts us in a strong position to refine and prioritise drill targets."

Timeline and Funding Status:

• Early 2026 drilling commencement targeted
• Subject to final data interpretation and access arrangements
• Follow-up drilling options under evaluation at Geenobby and Gladstone West pending geochemical results

Strategic Location in Tier-1 Mining District

The Commonwealth Project's location 100km north of Orange, NSW within the Lachlan Fold Belt positions it among world-class operations including Cadia-Ridgeway, North Parkes, and Cowal. This proximity provides significant infrastructure advantages including:

• Established mining services and contractor base
• Proven geological prospectivity
• Existing transport and logistics networks
• Skilled workforce availability

The Lachlan Fold Belt's track record of major discoveries and operating mines provides strong precedent for economic mineralisation in the region. Consequently, this supports the investment thesis for systematic exploration of the Commonwealth system and validates the strategic approach of Kuniko Ltd drilling preparations.

Investment Thesis: Multiple Catalysts Align for 2026

Kuniko's methodical approach to the Commonwealth Project positions the company for multiple near-term catalysts that could significantly impact valuation. For instance, the comprehensive nature of current Kuniko Ltd drilling preparations creates multiple value inflection points over the coming months.

Near-term Catalysts (Q4 2025 – Q1 2026):

• Mid-December: Laboratory results from 420 soil samples and 5 rock-chip samples
• December: Fully processed airborne EM data interpretation
• Early 2026: Maiden drilling programme commencement
• Q1 2026: Potential follow-up drilling at Geenobby and Gladstone West

Competitive Advantages:

• Proven mineral system with historical high-grade intersections
• Comprehensive database of 87 historical drill holes and extensive surface sampling
• Strategic location in Tier-1 mining jurisdiction
• Existing permits and land access enabling rapid programme advancement
• Diversified portfolio reducing single-asset risk through Norwegian battery metals projects

The combination of systematic exploration methodology, proven historical results, and near-term drilling catalysts creates a compelling opportunity for investors. Furthermore, the advanced state of Kuniko Ltd drilling preparations reduces execution risk whilst maintaining significant upside potential.

Why Investors Should Follow Kuniko Limited

Kuniko Limited has positioned itself as a well-funded, systematic explorer with assets spanning both traditional precious metals and critical battery minerals. The Commonwealth Gold-Silver Project represents a significant opportunity for value creation in a proven mineral system within a Tier-1 jurisdiction.

Key Investment Highlights:

• Imminent drilling catalyst with early-2026 commencement targeted
• Proven high-grade system with historical results supporting resource potential
• Systematic exploration approach reducing technical risk through comprehensive data integration
• Diversified portfolio providing multiple value creation opportunities
• Experienced management team with track record in exploration and development

Key Takeaway:
Kuniko Limited has assembled all the components for exploration success at Commonwealth: proven high-grade mineralisation, comprehensive geological understanding, secured land access, and funded drilling programmes. With laboratory results expected in December and drilling targeted for early 2026, the next six months could prove transformational for the company's valuation. Investors seeking exposure to precious and base metals exploration should closely monitor Kuniko's progress as multiple catalysts converge.

The company's methodical approach, combined with the geological potential of the Commonwealth system and near-term drilling catalyst, positions Kuniko as a compelling opportunity in the precious metals exploration space. However, investors should note that the success of these initiatives depends heavily on the thorough execution of current Kuniko Ltd drilling preparations and subsequent programme delivery.

Is Kuniko Positioned for a Breakthrough at Commonwealth?

With laboratory results expected mid-December and maiden drilling targeted for early 2026, Kuniko Limited presents a compelling opportunity for investors seeking exposure to a proven high-grade gold-silver system. The company's systematic approach, comprehensive historical database, and strategic location in the Tier-1 Lachlan Fold Belt create multiple near-term catalysts that could significantly impact valuation. Don't miss the opportunity to learn more about Kuniko's diversified portfolio spanning both precious metals and critical battery minerals. Discover more about Kuniko Limited's investment opportunity and position yourself ahead of these transformational developments.