Black Canyon (BCA) investor relations material

Executive summary

• Advanced the Wandanya Manganese and Iron Project from discovery to resource definition, with significant drilling and metallurgical testwork confirming high-grade, shallow mineralisation and DSO potential.

• Updated global Mineral Resource across the Balfour Manganese Field to 315Mt @ 10.5% Mn, reinforcing the project's scale.

• Completed a $10 million placement to accelerate exploration and feasibility activities.

• Acquired key tenements and strengthened the management team.

Financial highlights

• Net loss for the year ended 30 June 2026 was $1,802,462, compared to a profit of $378,754 in the prior year.

• Cash and cash equivalents increased to $7.8 million as of 30 June 2026, up from $2.2 million a year earlier.

• Exploration and evaluation assets rose to $12.85 million from $7.94 million year-over-year.

• Equity increased to $20.1 million from $9.9 million year-over-year.

• No dividends declared or paid for the year.

Outlook and guidance

• Focus remains on advancing Wandanya through maiden Mineral Resource Estimate and feasibility studies.

• Further drilling planned to test extensions and expand the resource base.

• Continued evaluation of simple processing methods and market pathways for manganese and iron products.