AusQuest (AQD) investor relations material

Executive summary

• Continued drilling at the Cangallo copper-gold discovery in Peru, confirming a large mineralised corridor over 1,500m strike, 250–500m width, and depths exceeding 400m.

• Drill permits secured for Playa Kali and Lantana copper-gold projects in Peru, with maiden RC drilling programs planned.

• Preparations and heritage surveys completed for upcoming drilling at Balladonia and Coober Pedy projects in Australia.

• Quarter-end cash position of approximately $10.2 million, including funds from South32 for Australian drilling programs.

Financial highlights

• Net cash used in operating activities for the quarter was $316,000; year-to-date $1.07 million.

• Net cash used in investing activities was $536,000 for the quarter; year-to-date $5.43 million.

• Net cash from financing activities was $1.16 million for the quarter; year-to-date $9.52 million.

• Cash and cash equivalents at quarter-end were $10.18 million.

• Estimated quarters of funding available: 2.9.

Outlook and guidance

• Completion of Stage 3 RC drilling and commencement of diamond drilling at Cangallo expected in Q2 CY2026.

• Stage 4 drill permitting at Cangallo advancing, with final approvals anticipated in Q3 CY2026.

• Maiden RC drilling at Playa Kali and Lantana to commence in Q2 CY2026.

• Balladonia and Coober Pedy drilling programs to begin upon final government approvals.