Altitude Minerals Launches Fully Funded Drill Programme at Byrock and Nevada

Altitude Minerals Primes the Drill Bit: Two Jurisdictions, Three Projects, and a Fully Funded Programme Ready to Fire

The Altitude Minerals drill program at Byrock and Nevada projects marks a decisive shift for Altitude Minerals Ltd (ASX: ATT), with the company moving from target generation into the drill-ready phase across multiple high-priority assets. With drill permits in hand on both its Australian copper-gold porphyry project and its Nevada silver-gold epithermal project, a rig secured, and a completed capital raise funding the next phase of work, ATT is positioning itself for a busy and potentially catalyst-rich second half of 2026.

The Big Picture: Three Projects, Two Countries, One Inflection Point

Altitude Minerals is executing across a dual-jurisdiction exploration portfolio built around in-demand strategic and precious metals — copper, gold, and silver. The June 2026 update captures a company that has spent prior months doing the foundational work — geophysics, permitting, earthworks, and contractor selection — and is now on the cusp of turning soil samples and geophysical anomalies into drill holes.

The three active projects that anchor the current programme are:

• Byrock Project — copper-gold porphyry targets, Northern Macquarie Arc, NSW, Australia
• Firenze Project — low-sulphidation (LS) epithermal silver-gold, Nevada, USA
• W-Project — low-sulphidation epithermal gold-silver, Nevada, USA

Each project is at a distinct but complementary stage of readiness, with drilling timelines converging in the second half of 2026.

Byrock Project: Drill Rig Secured, Earthworks Underway, First Holes Imminent

The Byrock Project in New South Wales sits within the Northern Macquarie Arc — a geological setting known for hosting large copper-gold porphyry systems. According to the June update, the project is arguably the most immediately newsworthy in ATT's portfolio given how close it is to the start of drilling.

Key milestones achieved in May 2026:

• Drill permits granted
• Drill rig secured
• Earthworks commenced

What comes next:

• A 2,300-metre RC (Reverse Circulation) drill programme targeting the four highest-ranked Pipe Targets: P38, P01, P02, and T47
• The company reports that drilling is expected to commence shortly

The selection of four discrete Pipe Targets for initial testing reflects a systematic ranking process — the company has worked through its target inventory and is drilling what it considers the best-of-the-best. For investors, each hole in a porphyry-style programme represents the potential for a genuinely significant discovery, given the size and scale that copper-gold porphyry deposits can reach.

Nevada, USA: Two Projects Converging on H2 Drilling

Altitude's Nevada portfolio consists of two complementary epithermal silver-gold projects — Firenze and W-Project — which are being advanced toward a combined drill programme. This is a smart operational decision that reduces mobilisation costs and maximises the value of having a contractor on site.

Firenze Project — Ready and Waiting

The Firenze Project, targeting low-sulphidation (LS) epithermal silver-gold mineralisation, has largely completed its pre-drilling groundwork.

Milestones achieved:

• Drill permits granted
• Earthworks completed
• Drill contractor selected

2026 programme:

• A 2,600-metre RC drill programme planned
• Drilling expected to commence post-contractor completion of current commitments — currently scheduled for September/October 2026

W-Project — Geophysics in Progress, Drill-Ready by September

The W-Project is at a slightly earlier stage but advancing rapidly. Furthermore, recent technical work has focused on refining the structural controls that will guide drill hole placement.

Milestones achieved in May 2026:

• Drone magnetics survey completed
• CSAMT geophysics survey commenced (to refine structural controls)
• Drill contractor selected

2026 plans:

• Analyse CSAMT and drone magnetics survey results
• Conduct field mapping
• Objective: drill-ready by September 2026

The planned combination of the W-Project and Firenze programmes into a single drill campaign is an operationally efficient approach that demonstrates disciplined capital management.

Project Progress Snapshot

Capital Raise: $1.15 Million to Fund the Drill Programmes

To underpin the busy H2 drilling schedule, Altitude completed a $1.15 million capital raise (before costs) on 6 May 2026. The raise was managed by GBA Capital and priced at 1.3 cents per share, with a value-adding sweetener for investors: one free attaching option for every share issued, carrying a strike price of 3.4 cents and expiring 31 July 2027.

The options are subject to shareholder approval, and the company intends to seek ASX quotation of the options, subject to approval and satisfying ASX requirements.

Intended use of funds:

1. Acquisition cost and rapid definition of drill targets at the W-Project, Nevada
2. A 2,300-metre RC drilling programme on the Byrock Project, NSW
3. Advance both Nevada silver and gold projects to full drill-ready status for H2 drilling
4. General working capital and business development

The allocation of proceeds directly mirrors the active project pipeline, consequently providing investors with clear line-of-sight between the funds raised and the exploration activities being funded.

"In-demand strategic metals and precious metals, favourable jurisdictions, proximity to known economic deposits, and the ability to rapidly validate drill targets for low-cost testing." — Altitude Minerals' stated project selection criteria

This framework reflects a disciplined approach to exploration capital allocation — focusing on speed-to-drill and geological merit rather than accumulating projects for the sake of scale.

Portfolio Rationalisation: Quality Over Quantity

An often-overlooked but meaningful aspect of ATT's update is the active management of its project portfolio. The company has confirmed it is seeking a joint venture partner or divestment for its Eromanga Basin Heavy Mineral Sands (HMS) Project in South Australia.

While the Eromanga project achieved positive proof-of-concept drilling results in 2025, it is now considered a lower priority relative to the copper-gold and silver-gold programmes that are consuming the company's focus and capital. Seeking a JV partner or divesting the project is a rational step — it could potentially unlock value from an asset that might otherwise sit dormant, whilst also returning management attention to higher-conviction targets.

This kind of portfolio discipline — actively relinquishing or partnering projects that no longer rank highest — is a positive indicator of management's capital allocation philosophy.

Educational Focus: Understanding Low-Sulphidation Epithermal Systems

Two of Altitude's three active projects (Firenze and W-Project) target low-sulphidation (LS) epithermal deposits. This is one of the most commonly explored and well-understood deposit types for gold and silver mineralisation.

How Do These Deposits Form?

Epithermal deposits form at shallow depths within the Earth's crust, typically in volcanically active regions. "Low-sulphidation" refers to the chemistry of the hydrothermal fluids that deposited the metals — these systems tend to form in near-neutral pH, dilute groundwater conditions and are typically associated with boiling zones where hot fluids rise toward the surface.

Why Do LS Epithermal Systems Matter to Investors?

• LS epithermal deposits can be high-grade and relatively near-surface, making them comparatively lower-cost to drill and potentially develop
• Nevada is one of the world's most prolific LS epithermal provinces, hosting some of the largest and richest gold-silver deposits globally
• The style lends itself to systematic exploration — structural targets and geophysical anomalies can be tested with relatively modest drill programmes before committing to larger expenditure

What Exploration Methods Are Used?

These systems are typically explored through:

• Structural mapping to identify controlling fault systems and fluid pathways
• Geophysics such as magnetics and resistivity surveys to map subsurface geology
• Geochemistry to detect surface mineralisation signatures
• RC drilling for cost-effective initial testing of targets

The combination of geological characteristics and proven exploration methodologies makes LS epithermal systems particularly attractive for junior explorers with limited capital.

Technical Terminology Guide

Upcoming Catalysts: A Busy H2 2026 on the Horizon

With the Altitude Minerals drill program at Byrock and Nevada projects converging across two jurisdictions in the second half of 2026, the near-term news flow potential for the company is significant.

Investment Considerations

Altitude Minerals is a small-cap explorer with a portfolio structured for near-term newsflow. The company has taken a methodical approach — building geological targets, completing permitting, and locking in contractors before announcing drill programmes. The result is that when drilling does begin, the infrastructure and approvals are in place to move quickly.

Key aspects for investor monitoring:

• Fully funded drill programmes across both Australian and US assets, with capital raise completed and funds allocated
• Imminent first drilling at Byrock targeting copper-gold porphyry — a deposit style capable of hosting large-scale mineralisation
• Nevada portfolio targeting LS epithermal gold-silver in one of the world's most proven precious metals jurisdictions
• Combined Nevada drill programme for operational efficiency and cost management
• Active portfolio management — seeking JV or divestment of lower-priority assets to maintain focus and potentially realise value
• Clear project selection criteria centred on in-demand metals, tier-one jurisdictions, and rapid drill-target validation

What Are the Key Risk Considerations?

Early-stage exploration carries inherent uncertainty. Drilling programmes may not intersect economic mineralisation, and geological models may require revision based on new data. In addition, currency fluctuations between Australian and US operations could affect project costs and economics.

Key Takeaway: Altitude Minerals has positioned itself at an inflection point, with drill permits granted, rigs secured, and a funded programme ready to execute across two jurisdictions. With first holes at the Byrock copper-gold porphyry project imminent and Nevada epithermal silver-gold drilling converging on September/October 2026, the company offers investors meaningful near-term catalysts across distinct and complementary asset styles. For those tracking early-stage explorers with active drill pipelines, ATT warrants close attention in the months ahead.

Ready to Track ATT's Drill Results Across Two Continents?

Altitude Minerals (ASX: ATT) is fully funded and drill-ready across its Australian copper-gold porphyry and Nevada epithermal silver-gold projects, with first holes at Byrock imminent and the combined Nevada programme converging on September/October 2026. For investors seeking exposure to a near-term catalyst-rich explorer with active programmes across two jurisdictions, visit the Altitude Minerals Investor Centre to access the latest project updates, announcements, and company information.