Critical Resources Confirms Gold-Antimony Bedrock at Croesus, New Zealand

Gold and Antimony Confirmed in Bedrock: Critical Resources Unlocks a Dual-Commodity System at Croesus

Critical Resources Limited (ASX: CRR) has announced first-pass reconnaissance sampling results from its Croesus Project in New Zealand's Reefton Goldfield, confirming high-grade gold-antimony mineralisation across the Croesus-Minerva trend. Crucially, these Critical Resources Croesus gold antimony results in New Zealand establish that gold anomalism extends into in-situ bedrock, not just transported historical material.

The results mark a meaningful step forward in the company's New Zealand exploration programme, validating its geological model and setting up a clear pathway to systematic follow-up work.

What the Sampling Confirmed

A total of 21 samples were collected across the Croesus gold-antimony area in April 2026, comprising rock samples, float samples, and historic ore-spillage material gathered around historical workings, interpreted haulage routes, and mineralised quartz-vein occurrences.

The headline results were striking:

• 13.3 g/t Au and 2,240 ppm Sb from sample A1479, a historic ore-spillage sample comprising quartz with sulphides and stibnite
• 8.13 g/t Au from sample A1473, quartz with a pyrite layer
• 6,990 ppm Sb (0.7%) from sample A1482, quartz with chalcopyrite, stibnite and pyrite
• 1.58 g/t Au from sample A1483, an in-situ rock sample from quartz-carbonate stockwork in heavily altered Greenland Group rocks

The table below summarises the most significant results from the programme:

Note: Historic ore-spillage and float samples are ex-situ and selective in nature. They should not be interpreted as representative of in-situ grade, width or continuity.

Why the In-Situ Result Matters Most

It is important to distinguish between two categories of results in this programme. The highest-grade gold samples — including the 13.3 g/t Au result — were recovered from historic ore-spillage material, meaning material displaced from its original source during historical mining, ore handling, or haulage activity. These results confirm the presence of high-grade mineralised material within the historical system, but they do not represent the in-situ grade, width, or continuity of bedrock mineralisation.

What distinguishes sample A1483 — and makes it the most significant result from an exploration standpoint — is that it is a genuine in-situ bedrock sample. Collected from quartz-carbonate stockwork in heavily altered Greenland Group rocks exposed in a creek-bed outcrop, it returned 1.58 g/t Au, confirming that gold mineralisation is present in the host rock itself, not solely in transported material.

This distinction matters because it transitions Croesus from a project with interesting historical context to one with confirmed bedrock anomalism — a direct vector for systematic follow-up and, ultimately, drill targeting.

"These results confirm the presence of a gold-antimony system at Croesus and, importantly, demonstrate that mineralisation is present in bedrock as well as historical mine material. The highest-grade samples come from historical ore-spillage material, which is not representative of in-situ grade or width, but it confirms the system and points us toward the source. Our focus now is to map and sample the source structures along the Croesus–Minerva trend and rank targets for drilling." — Managing Director Tim Wither

Understanding the Geology: What Is a Structurally Controlled Gold-Antimony System?

For investors less familiar with exploration geology, understanding the deposit model at Croesus adds important context.

Structurally controlled lode gold refers to gold mineralisation hosted within fault or shear zones in the earth's crust, where hydrothermal fluids have deposited gold-bearing quartz veins along these structures. The veins follow predictable geological trends, which makes them amenable to systematic targeting once the controlling structures are identified.

At Croesus, the gold occurs with antimony — in the form of the mineral stibnite — hosted in quartz-sulphide veins within the Greenland Group. This is a sequence of ancient metasedimentary rocks that also hosts the Reefton Goldfield's well-known orogenic gold systems.

The practical implication for investors is straightforward. Once the source structures are mapped and confirmed, the project becomes a target for drilling, where intersecting a mineralised lode at depth could significantly advance the project's resource potential.

Key Geological Terms Defined

• Orogenic gold: Gold deposited during mountain-building events; commonly high-grade and structurally controlled
• Stibnite: The primary ore mineral of antimony; its presence at Croesus defines the gold-antimony association
• Greenland Group: The ancient metasedimentary rock sequence hosting mineralisation across the Reefton Goldfield
• Quartz-carbonate stockwork: A network of intersecting quartz and carbonate veins in altered rock — a common host for orogenic gold
• Float samples: Rock fragments that have moved downslope or downstream from their original bedrock source
• Historic ore spillage: Material displaced from original bedrock position by historical mining or haulage activity
• In-situ: Material sampled directly from its original bedrock position, undisturbed by transport or human activity

A Dual-Commodity Project in a High-Value Minerals Context

The Croesus Project carries significance beyond gold alone, given the antimony component of the mineralisation.

Antimony is a designated critical mineral in Australia, the United States, and the European Union. It is listed as a priority resource under Australia's Critical Minerals Strategy 2025–2030. Furthermore, global antimony supply tightened materially after China introduced export controls on the metal in September 2024. The New Zealand Government has separately identified gold and antimony in the Reefton Goldfield as a focus of its critical minerals work.

The project also hosts a separate tungsten target — the Granite Creek / Barrytown Granite target — where assay results from first-pass sampling are currently pending and will be reported separately. Tungsten was added to China's export control list in February 2025 and is similarly designated as a critical mineral in Australia, the US, and the EU.

This dual-commodity profile — gold plus antimony, with tungsten as a separate target on the same ground — gives Critical Resources an unusually broad set of potential value drivers from a single exploration project.

Regional Context: Operating in a Proven Goldfield

The Reefton Goldfield provides meaningful geological credibility for the Croesus Project. The field has reportedly produced approximately two million ounces of gold from orogenic quartz-vein systems hosted in Greenland Group rocks — the same rock sequence and deposit type that Critical Resources is targeting at Croesus.

The regional landscape also includes active peers. Rua Gold Inc (TSX: RUA) is advancing its Reefton Project in the same goldfield, while Endura Mining's Snowy River Project — located approximately 20 km from Croesus — is currently under construction. The proximity of an advancing development project in the same geological setting adds tangible context to the potential value of the Croesus ground.

What Comes Next: The Path from Sampling to Drill Targets

Critical Resources has outlined a focused programme of follow-up work at Croesus to convert the first-pass results into defined drill targets.

Priority activities include:

1. Detailed geological and structural mapping of quartz-sulphide vein systems along the Croesus-Minerva trend
2. Systematic in-situ rock-chip and channel sampling where safe exposures are available
3. Mapping and sampling around historical workings, ore-bin sites and interpreted haulage routes to vector toward potential source structures
4. Integration of Au, Sb, As and associated pathfinder geochemistry with mapped structures and historical workings
5. Ranking of targets for potential trenching or drilling, subject to access, permitting and environmental approvals

In parallel, tungsten assay results from the Granite Creek / Barrytown Granite target are expected shortly and will be reported as a separate announcement.

Broader New Zealand Portfolio Near-Term Activities

The Investment Thesis: Why Croesus Deserves Attention

The Critical Resources Croesus gold antimony results in New Zealand deliver on several fronts simultaneously:

• Geological validation: The exploration model — structurally controlled gold-antimony hosted in Greenland Group rocks — is confirmed by both the high-grade ore-spillage results and the in-situ bedrock anomalism
• Clear next steps: The programme has defined specific, actionable targets for mapping, sampling and eventual drilling along the Croesus-Minerva trend
• Dual-commodity relevance: The gold-antimony association positions Croesus within two separate commodity narratives — gold as a traditional store of value and antimony as a supply-constrained critical mineral
• Established goldfield: The Reefton Goldfield's documented ~2 million ounce production history and the presence of active peer projects nearby provides geological and commercial context
• Portfolio optionality: Pending tungsten results from Granite Creek add a third critical mineral dimension to the New Zealand portfolio, with results due in the near term

Critical Resources holds a 90% interest in the Croesus Prospecting Permit (PP61277), with a 10% free-carried interest retained by Koura Resources Ltd until a Final Investment Decision. CRR funds all exploration and controls all joint venture activities during the free-carry period.

Why Investors Should Follow Critical Resources

The Croesus announcement illustrates a company executing methodically through an exploration programme. Importantly, management has been transparent in distinguishing between transported material and in-situ bedrock results, while delivering a clear geological rationale for continued investment in the target.

The New Zealand gold portfolio is itself part of a broader diversified strategy. Critical Resources' asset base spans the Mavis Lake Lithium Project in Ontario, Canada, the Halls Peak Base Metals Project in New South Wales, and multiple New Zealand gold and critical mineral targets — all within a single ASX-listed vehicle.

With tungsten results from Granite Creek imminent, follow-up mapping and sampling at Croesus underway, and a follow-up RC drill programme being designed at Cap Burn / Rock and Pillar, the company is approaching a period of multiple near-term catalysts across its New Zealand portfolio.

"Critical Resources has confirmed a genuine gold-antimony system at Croesus, with in-situ bedrock anomalism providing the critical link between historical high-grade material and a viable exploration target. With antimony designated as a critical mineral across major economies, the Croesus-Minerva trend now has both a proven geological model and a compelling commodity context. As the company advances toward drill targeting and awaits tungsten results from Granite Creek, investors have multiple near-term catalysts to monitor across what is becoming an increasingly active New Zealand portfolio."

Ready to Follow Critical Resources' Next Chapter at Croesus?

With bedrock gold-antimony mineralisation now confirmed at Croesus, a clear path to drill targeting taking shape, and tungsten assay results from Granite Creek imminent, Critical Resources (ASX: CRR) is entering a period of meaningful catalysts across its New Zealand portfolio. To learn more about the company, its projects, and how the Croesus-Minerva trend fits into CRR's broader exploration strategy, visit criticalresources.com.au.