Astral Resources NL (AAR) Resources Rising Stars Gold Coast Conference summary

Resource Growth and Project Updates

• Resource growth at Nampaman and Mandilla reached 2.8 million ounces, with costs discussed for recent expansions.

• Mandilla is positioned for long-term growth, with ongoing diamond drilling, additional resource development, and a 2.1Moz resource underpinning robust economics.

• Bullabulling ore body offers development opportunities, with a 1 g/t grade and value potential.

• Feysville is positioned as a high-grade satellite to Mandilla, with updated mineral resource expected in the December quarter and a recent heritage survey completed.

• Theia infill and deep drilling, including 21 holes since March 2026, is ongoing to support future project decisions and resource upgrades.

Financial and Operational Outlook

• Additional cash flow is expected from Mandilla, with expenditure plans and project funding involving both debt and equity to maintain a strong financial position.

• Revenue generation is anticipated from Spargoville and Kamperman by the December quarter of next year.

• AUD 650 million in value highlighted for Mandilla and related projects, with project EBITDA of A$3,142M and pre-tax NPV of A$1,400M.

• Cost management experience from previous projects supports confidence in execution.

• Corporate snapshot as of June 2026: market capitalization of A$361.8M, A$65.1M cash, and enterprise value of A$296.7M.

Exploration and Development Activities

• Think Big deposit remains open at depth, with visible gold logged and ongoing diamond drilling; a Letter of Intent executed to mine ~32,000oz as an early revenue opportunity.

• Heritage survey completed at Kamperman, with diamond drilling underway.

• RC drilling at Feysville returned high-grade intercepts, supporting project advancement.

• Spiders project acquired and resource estimates in progress.

• Ongoing efforts to resolve mineralization complexities at Theia, with a focus on long-term mining and resource upgrades.