Lac Gold (LAC) investor relations material

Executive summary

• September 2026 drilling at Astoria supported the potential to grow the existing 1.66Moz Rouyn resource; an updated estimate is targeted for Q1 2027.

• Results reinforced a geological model of broad mineralised envelopes containing higher-grade internal zones, with ongoing drilling and technical work intended to guide future exploration and development evaluation.

Financial highlights

• Quarter-end cash was A$9.854m; cash declined from A$13.342m at quarter start, including A$10k of adverse exchange-rate movements.

• Quarter cash outflows included A$2.735m for exploration and evaluation, A$450k for staff costs and A$494k for administration and corporate costs; interest received was A$201k.

• Payments to related parties totalled A$345k, comprising directors’ fees, salaries and associated costs.

Outlook and guidance

• Updated Rouyn Mineral Resource Estimate is targeted for Q1 2027, incorporating 52 holes from the 2026 campaign, historical drilling and revised geological interpretation.

• December-quarter priorities include continued Rouyn drilling, remaining 2026 assays, resource publication, next-phase drill design, technical studies and environmental and permitting work.

• Metallurgical testwork will assess opportunities to improve gold recovery from argillite-hosted mineralisation, which represents ~10% of the current Rouyn resource.

• Golden Patricia data compilation and 3D interpretation will continue to support target generation, while Rouyn remains the immediate operational and capital priority.