PTR Minerals’ Rosewood Project Advances Through Narryer Metals Ltd Partnership

PTR Minerals Delivers Outstanding Resource Drilling Results at Rosewood Titanium Project

PTR Minerals Limited (ASX: PTR) has completed its maiden resource drilling programme at the Rosewood titanium project, delivering some of the best drill intercepts to date with consistently high-grade heavy mineral (HM) mineralisation across thick vertical intervals. The 446-hole programme covering 9,388 metres represents a major milestone toward the company's maiden JORC Resource expected in Q2 2026.

Furthermore, the first batch of assay results from 17 drill holes has returned exceptional grades, including standout intercepts of 31m @ 13.5% HM and 29m @ 13.8% HM. These results demonstrate the robust nature of the titanium mineralisation at Rosewood and reinforce PTR's position as a leading critical minerals explorer in South Australia's northern Gawler Craton.

The joint venture with Narryer Metals Ltd provides additional strategic value through shared expertise across the broader project area whilst maintaining PTR's operator status.

CEO Peter Reid commented:
"It is very pleasing to have the maiden Resource drilling completed at Rosewood on time and to get assaying and resource estimation underway before the Christmas period. On this basis, we are well on track to announce our maiden JORC Mineral Resource during Q2 of calendar 2026."

Exceptional Drilling Results Confirm High-Grade Consistency

The initial batch of results from the Rosewood East area has delivered consistently strong mineralisation across widely spaced drill lines. In addition, multiple holes have reported HM grades over 10% and vertical intercept thicknesses of approximately 25-30 metres.

Key Drilling Highlights Include:

The drilling programme targeted a 2.5-kilometre traverse in the Rosewood East area using 100-200 metre spacing. This approach provides excellent geological control for resource estimation whilst the vertical drilling approach delivers accurate thickness measurements of the flat-lying heavy mineral sand deposits.

Understanding Heavy Mineral Sands: A Critical Component

Heavy Mineral Sands (HMS) represent one of the most sought-after sources of titanium dioxide, a critical mineral essential for pigments, aerospace applications, and advanced manufacturing. These deposits form when weathering concentrates heavy minerals like ilmenite, rutile, and zircon in coastal or river environments over geological time.

However, heavy mineral sands contain valuable minerals that are significantly denser than common sand grains. When rivers transport sediments to the ocean, wave action and currents naturally separate these heavier minerals from lighter quartz sand. Over time, this process concentrates valuable titanium-bearing minerals into layers that can be economically extracted.

At Rosewood, mineralogical test work has indicated HMS with up to >95% Valuable Heavy Mineral content, composed primarily of high-value titanium minerals. Furthermore, the coarse-grained nature of the discovery suggests excellent potential for high recovery rates using conventional gravity spiral processing techniques—a significant advantage for future development economics.

For instance, HMS projects offer several key advantages:

• Established processing methods reduce technical risk
• Multiple valuable products from a single deposit
• Growing global demand for titanium in critical applications
• Relatively straightforward mining techniques compared to hard rock deposits

Strategic Path to JORC Resource

PTR is advancing systematically toward its maiden JORC Resource estimate expected during Q2 2026. The comprehensive drilling programme positions the company to potentially report resources at Indicated level for Rosewood East and Inferred level for Rosewood West.

Next Steps Include:

• Heavy mineral assaying continuing at Diamantina laboratories in Perth
• Assemblage logging to quantify TiO2 component of mineral assemblage
• Selected XRF and QEMSCAN analysis for detailed mineralogical characterisation
• Resource modelling work to define tonnage and grade estimates
• Further assay updates expected in the new year

The 40km² resource drilling area demonstrates the significant scale potential at Rosewood. Moreover, the deposit remains open along trend for further extensions, highlighting the project's expansion potential.

Project Structure and Strategic Ownership

PTR holds a commanding position across the Muckanippie Project through strategic tenement holdings. This positioning enables the company to maximise control over future development decisions whilst maintaining operational flexibility.

This 100% ownership of the primary Rosewood East target provides PTR with maximum leverage to future resource definition and development decisions. Additionally, the joint venture with Narryer Metals Ltd across the western portion of the project provides additional scale potential whilst maintaining PTR's controlling interest.

Investment Thesis: Critical Minerals Exposure in Tier-1 Jurisdiction

PTR Minerals offers investors direct exposure to the growing critical minerals sector through its advanced titanium HMS projects in South Australia. The Rosewood drilling results validate the company's systematic exploration approach and highlight several key investment drivers.

Resource Scale Potential: The 446-hole drilling programme across 40km² demonstrates significant scale potential, with initial results showing consistent high-grade mineralisation over substantial thicknesses.

Processing Advantages: The coarse-grained nature and >95% valuable heavy mineral content suggest excellent metallurgical characteristics for conventional processing methods.

Strategic Location: Projects located in the world-class northern Gawler Craton provide access to established infrastructure and mining-friendly jurisdiction.

Diversified Portfolio: Beyond titanium, PTR holds copper-gold projects in the Olympic Copper-Gold Province and rare earth prospects at the Comet Project.

The joint venture with Narryer Metals Ltd provides additional strategic value through shared expertise and cost efficiencies across the broader project area whilst maintaining PTR's operator status.

Why Should Investors Follow PTR Minerals?

The completion of resource drilling at Rosewood marks a pivotal transition for PTR from exploration to resource development. With assaying and modelling work now underway, the company is positioned to deliver its maiden JORC Resource within six months.

Several factors make PTR particularly compelling for critical minerals investors:

Near-Term Catalysts: The Q2 2026 resource estimate provides a clear timeline for the next major value inflection point.

Exceptional Drilling Results: Initial intercepts including 31m @ 13.5% HM rank among the best results to date across the project.

Scale Potential: The southern mineralised zone alone shows potential for "significant tonnages at high grades" according to management.

Technical Excellence: Partnership with industry-leading Diamantina laboratories and systematic approach to resource definition demonstrates operational capability.

Key Takeaway:

PTR Minerals has positioned itself as a major player in Australia's critical minerals sector, with the Rosewood project demonstrating exceptional titanium HMS potential. With the maiden JORC Resource expected in Q2 2026 and outstanding drilling results confirming high-grade consistency, investors should closely monitor PTR's transition from explorer to resource company.

In conclusion, the combination of high-grade results, substantial scale potential, and clear development pathway makes PTR an attractive proposition for investors seeking exposure to the critical minerals boom in a tier-1 mining jurisdiction. Furthermore, the strategic partnership through its joint venture with Narryer Metals Ltd across the western project areas further enhances the overall value proposition whilst maintaining PTR's operational control.

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