Caprice Resources (CRS) investor relations material

Executive summary

• Focused on resource-definition, extensional, and discovery drilling at the Island Gold Project in Western Australia, with significant high-grade gold intersections at Vadrians and parallel structures.

• Initial metallurgical testwork at Vadrians showed up to 94% gold recovery using conventional gravity and CIL processing.

• Completed divestment of a 75% interest in the Chobe Project for A$2.7 million cash, retaining a minority, free-carried interest.

Financial highlights

• Cash balance at quarter end was A$10.81 million, with an additional A$2.7 million received post-quarter from the Chobe divestment, totaling pro-forma A$13.5 million.

• Quarterly project and exploration expenditure totaled A$2.51 million, mainly for drilling, geological consulting, and assays.

• Net cash outflow from operating activities was A$367,000 for the quarter.

• Net cash outflow from investing activities was A$2.78 million for the quarter.

Outlook and guidance

• Ongoing resource-definition and extensional drilling at Vadrians, with further drilling planned at New Orient, Iron Clad, Chicago, and other Island targets.

• Pending assays for 20 RC holes and 16 diamond tails; continued technical work towards a maiden Mineral Resource Estimate.

• Additional metallurgical testwork and air-core drilling across new targets planned.