Yari Minerals (YAR) Status Update summary

Project Overview and Resource Update

• Rolleston South project resource upgraded by 91% to 151 million tonnes, based on remodeling and 2021 coal seam gas well data, achieved at minimal cost.

• The coal is high-quality thermal, with potential for semi-soft coking coal, confirmed by laboratory analysis.

• Located in the Bowen Basin, a Tier 1 coal jurisdiction with strong infrastructure and proximity to operating mines and export routes.

• Acquisition price was 19.9% of issued capital, with a current market cap of AUD 7.2 million, enterprise value of $5.51M, and AUD 1.7 million in cash.

• Major shareholders include Copulos Group (27.8%) and project vendors (19.9% post-meeting).

Infrastructure and Logistics

• Project benefits from direct access to the Blackwater Rail system and the Port of Gladstone for coal exports, with site 40km by sealed road to rail.

• The Blackwater rail system services over 14 coal mines and connects to major power stations and export terminals.

• State and national highways run through the project, supporting efficient logistics and connecting to rail loading loops.

• Infrastructure is efficient, reducing capital and operating costs due to minimal coal washing requirements.

• Discussions underway for rail and port allocation, with open access options available.

Drilling Campaign and Development Pathway

• Inaugural drilling campaign planned to grow resource and upgrade categorization from inferred to indicated, with further drilling and development planned for 2025.

• Drilling will provide samples for metallurgical test work to confirm semi-soft coking coal potential.

• Completion of drilling will enable pre-feasibility and feasibility studies, targeting a mining lease application in 2026.

• Current cash reserves are sufficient to fund the drilling program.