Announcement PDF ASX Code: IPT May 5th 2026 CORPORATE RELEASE Commonwealth–Silica Hill JV Update New Discovery at Silica Hill High grade veins return bonanza grades up to 2% (20,603 g/t) Silver and 27 g/t Gold Impact Minerals Limited (ASX:IPT) is pleased to advise that very high-grade precious and base metals assays have been returned from two drill holes from the Silica Hill prospect as part of the recently completed six-hole diamond drill programme at the Company’s Commonwealth Gold–Silver Project in New South Wales. The assays confirmed previously reported visual estimates of mineralisation and follow on from high grade massive sulphide mineralisation at the Commonwealth deposit itself (ASX Releases March 25th 2026 and April 22nd 2026). The drill programme was funded by Kuniko Limited (ASX:KNI) under the Earn-In and Joint Venture Agreement where Kuniko can earn up to a 70% interest in the project. The assay results have been fully reported by Kuniko, which is attached to this announcement (ASX:KNI Release May 5th 2026). Bonanza-grade silver-gold mineralisation has been intersected at Silica Hill, with grades up to 2% Ag (20,603 g/t Ag) and 27 g/t Au returned in discovery hole CMKNI004. The mineralised intercept lies 100 metres outside of the existing mineralised envelope and below a fault, confirming a significant expansion of the mineralised system which is open in all open in all directions (Figure 1). Highlights CMKNI004 (Hole 4) returned compelling high-grade intercepts: • 0.5m massive sulphide vein returning 2.1% silver (20,603 g/t), 27 g/t gold, with 1.5% lead and 3.3% zinc from 230 m, represents a very high-grade polymetallic intercept, and is interpreted to be part of a feeder-style structure within the Silica Hill system • Occurs within a broader intercept of 84m @ 0.6 g/t gold and 123 g/t silver and lesser lead and zinc from 226 m, including: 3.4m @ 4.1 g/t gold, 2,947 g/t silver, 0.3% lead and 0.6% zinc from 227.5 m, and 21m @ 1.5 g/t gold, 2.5 g/t silver, 0.07% Pb and 0.14% Zn from 244 m, which included: 1m @ 15 g/t gold, 14 g/t silver, 0.26% Pb and 0.9% Zn from 249 m • A separate high-grade gold zone further up-hole returned 2m @ 8.3 g/t Au from 205m, remaining open up-hole ASX:IPT | ABN 52 119 062 261 2 Figure 1. Section across the Main Shaft and Silica Hill prospects showing modelled gold and silver mineralisation and recent drilling. Mineralisation is displayed as a block model coloured by grade (Au at Main Shaft and Ag at Silica Hill), with higher-grade zones highlighted in red. Recent KNI drill holes (CMKNI001–004) are shown as white traces, with historical drilling shown as black traces. Step-out hole CMKNI004 intersects mineralisation below and outside the current modelled envelope, indicating the system remains open at depth. Hole CMKNI003 confirms continuity and expansion of mineralisation within the Silica Hill system. The interpreted fault zone is shown as a structural control, with mineralisation remaining open along strike and down-dip. CMKNI003 (Hole 3), drilled as an infill and step-out hole also returned excellent results: • 50m @ 1.0 g/t gold, 59 g/t silver, 0.14% zinc and 0.10% lead from 74m, including; • 17m @ 113 g/t silver, 0.4 g/t gold, 0.14% zinc and 0.11% lead from 47m and also including • 20m @ 2.1 g/t gold, 43 g/t silver, 0.22% zinc and 0.15% lead from 103m The results demonstrate the coexistence of very high-grade vein-hosted mineralisation and broad zones of disseminated sulphides, supporting the interpretation of a large, fertile and vertically extensive hydrothermal system at Silica Hill. Assays from Holes 5 and 6 are expected in the next two weeks. ASX:IPT | ABN 52 119 062 261 3 A larger Phase 2 drilling program will commence in June, targeting extensions and potential higher- grade zones at depth. Impact’s Managing Director, Dr. Mike Jones, commented, “This is a breakthrough drill result for Silica Hill and also the greater Commonwealth Project. The new intercept is located below a fault which has cut off the near surface mineralisation and therefore opened a large and exciting new area for drilling. The extremely high-grade massive sulphide gold and silver vein is similar to another lower- grade vein we previously intersected above the fault and we believe these could be feeder veins for the narrower high-grade veins in the system. The more extensive parts of the Silica Hill system could well be hidden at depth and we are looking forward to Kuniko’s follow up drill programme which will start in June”. Kuniko’s drill program follows the completion of a comprehensive MobileMT™ airborne geophysical survey and soil and rock chip geochemistry programs, which have significantly expanded the exploration footprint across the Project, identifying a roughly 4-kilometre-long conductive corridor that extends beyond the currently defined resources (IPT ASX Release February 9th 2026). Impact previously defined JORC (2012) Inferred Mineral Resources at Commonwealth and Silica Hill, totalling 88,800 ounces of gold and 3.3 million ounces of silver, including significant zinc and lead credits (see ASX Release September 4th 2025 for a summary). These resources are shallow, within approximately 250 metres of surface, and remain open at depth and along strike. Importantly, copper values increase at depth in parts of the system, highlighting the potential for a deeper porphyry copper–gold source beneath the high-sulphidation, gold-rich VMS mineralisation. Additionally, recent soil and rock chip sampling by Kuniko at Gladstone West and Geenobby has yielded promising high-grade gold–silver results, and further walk-up drill targets have been identified. Commonwealth is a very unusual gold-rich VMS system in Australia with strong similarities to the world-class Eskay Creek deposit in the famed Golden Triangle of British Columbia. With defined resources already in place and compelling deeper copper targets, this drilling program marks an important step in unlocking the full potential of the Project. Under the Earn-In and Joint Venture Agreement, Kuniko can earn a 51% stake by spending $1.5 million within two years, and increase to 70% by spending an additional $1.5 million within the following two years. Impact retains a 30% free-carried interest until the Decision to Mine, offering substantial leverage to exploration success. At a 30% interest, Impact can either contribute or dilute down to 10% and then convert to a 2% Net Smelter Royalty. This announcement has been authorised for release by the Managing Director. Dr Michael G Jones Managing Director ASX Release 05.05.2026 - 1 – New Discovery at Silica Hill High grade veins return bonanza grades of 20,603 g/t Silver and 27 g/t Gold Highlights • New discovery at Silica Hill: o Bonanza-grade silver-gold mineralisation intersected at Silica Hill, with grades up to 20,603 g/t Ag and 27 g/t Au returned in discovery hole o Located~100moutsideof existingmineralisedenvelope; confirms significant expansion of existing mineralised system o Mineralisation represents clear offset and extension of known system, open in all directions • CMKNI004 (Hole 4) hit compelling high-grade intercepts: o 84m @ 0.6 g/t Au, 123 g/t Ag, 0.08% Pb and 0.16% Zn from 226m, including: ▪ 3.4m @ 4.1 g/t Au, 2,947 g/t Ag, 0.3% Pb and 0.6% Zn from 227.5m and including; ▪ 0.5m massive sulphide vein returning 20,603 g/t Ag, 27 g/t Au, 1.5% Pb and 3.3% Zn from 230m, represents a very high-grade polymetallic intercept, and is interpreted to be part of a feeder-style structure within the Silica Hill system ▪ 21m @ 1.5 g/t Au, 2.5 g/t Ag, 0.07%Pb and 0.14% Zn from 244m, which included; ▪ 1m @ 15 g/t Au, 14 g/t Ag, 0.26% Pb and 0.9% Zn from 249m o Separate high-grade gold zone further up returned 2m @ 8.3 g/t Au from 205m, remaining open up-hole with samples to also be assayed • CMKNI003 (Hole 3), drilled as a step-out hole, returned excellent results: o 50m @ 1.0 g/t Au, 59 g/t Ag, 0.14% Zn and 0.10% Pb from 74m, including; ▪ 17m @ 113 g/t Ag, 0.4 g/t Au, 0.14% Zn and 0.11% Pb from 47m ▪ 20m @ 2.1 g/t Au, 43 g/t Ag, 0.22% Zn and 0.15% Pb from 103m ▪ Results demonstrate the coexistenceof very high-gradevein-hosted mineralisationand broad zones of disseminated sulphides, supporting interpretation of a large, fertile and vertically extensive hydrothermal system ▪ Phase2 drillingprogram commencinginJune,targeting extensions and potential higher-grade zones at depth ▪ Outstanding assays from Holes 5 and 6 are expected next two weeks - 2 – Maja McGuire, Managing Director, commented: “This is an exceptional new discovery and a significant step change for Silica Hill. Intersecting grades of 20,603 g/t silver and 27 g/t gold in a massive sulphide vein is an outstanding result and highlights the potential for high -grade zones within the system. What is particularly exciting is that this mineralisation sits outside the limits of previous drilling, with both CMKNI004 and CMKNI003 confirming that the system is larger and more continuous than previously understood. We are now moving quickly into Phase 2 drilling, targeting extensions of these zones and potential higher -grade positions at depth. With this level of result, we are excited to get backout there and continue drilling—we believe there is much more to come from the Project.” Kuniko Limited (ASX: KNI) is pleased to report assay results from a further two diamond drill holes at the Silica Hill prospect, part of the Commonwealth–Silica Hill Project in NSW. The results confirm the discovery of new mineralisation outside the limits of previous drilling and the current mineralised envelope, including high-grade silver–gold mineralisation and broad zones of sulphide mineralisation, highlighting the scale and growth potential of the system. Assays from the remaining two drill holes are expected within the next two weeks. Drill Results Hole CMKNI004, drilled approximately 100m down-dip and outside the current mineralised envelope, represents a significant step-out and has intersected mineralisation below the existing block model, as shown in Figures 1 and 2. The hole returned 84m @ 0.6 g/t Au, 125 g/t Ag, 0.08% Pb and 0.16% Zn from 226m, including 3.4m @ 4.1 g/t Au and 2,947 g/t Ag, and a high-grade massive sulphide vein of 0.5m @ 27 g/t Au, 20,603g/t Ag, 1.5% Pb and 3.3% Zn, interpreted as a potential feeder structure. The position of CMKNI004 relative to the main mineralised domain suggests displacement of the system along a reverse fault, with the mineralised body interpreted to be downthrown at depth along this structural control. This structural offset has effectively opened a new search space beneath the current model. Notably, mineralisation at this depth exhibits an increase in gold tenor relative to the typically silver-rich upper portions of the system, indicating possible vertical metal zonation and strengthening the interpretation of a vertically extensive hydrothermal system with increasing gold potential at depth. - 3 – Figure 1: Section across theMain Shaft and Silica Hillprospects showingmodelled gold and silvermineralisation and recentdrilling. Mineralisation is displayed as a block modelcoloured by grade (Au atShaftandAg at SilicaHill), with higher-grade zones highlighted in red. Recent KNI drillholes (CMKNI001–004)are shownas whitetraces,with historicaldrilling shown as black traces. Step-out hole CMKNI004 intersects mineralisation below and outside the current modelled envelope, indicating the system remains open at depth. Hole CMKNI003 confirms continuityand expansion of mineralisation withinthe SilicaHillsystem. The interpretedfault zoneis shownas a structuralcontrol, withmineralisation remainingopenalong strike and down-dip. The high-grade massive sulphide vein intersected in CMKNI004 is interpreted to be analogous to the “feeder vein” mineralisation previously identified at Commonwealth by Impact Minerals, where thick zones of closely spaced, high-grade silver–base metal veins with a distinctive polymetallic assemblage were interpreted to represent the margins of a high-grade feeder system to the broader mineralised package. Structural analysis of vein orientations across Commonwealth and Silica Hill indicates a consistent plunge of approximately 50° towards 278° (west), suggesting a coherent mineralised system with a common source and structural control. The mineralogy and metal assemblage observed in CMKNI004, including elevated Ag–Au–Pb–Zn, are characteristic of these feeder-style environments and support the interpretation that the Silica Hill system is being intersected proximal to a higher- grade fluid pathway. This interpretation implies potential for thicker and higher-grade mineralisation at depth, with the system remaining open down-plunge to the west and along strike to the north and south, defining a compelling target zone for follow-up drilling (Figure 3). - 4 – Figure 2: Oblique viewofthe SilicaHillmineralisationblock modelcoloured by silver grade(ppm), showingrecentKuniko Limited drilling. Hole traces for CMKNI003 and CMKNI004 are shownin white,with historicaldrilling in black. Step-out hole CMKNI004 intersectedmineralisationbelow and outside the currentmodelled envelope,confirmingthe system remains open at depth.High-grade silver–gold mineralisation, including a massive sulphide vein, is associatedwith a fault planeinterpretedto act as a key structuralcontrolandpotentialfluidconduit.Mineralisationremains open along the structure and down-dip, defining a new search space beneath the current model. Hole CMKNI003 was drilled as a step-out hole at Silica Hill, located approximately 25m from previous mineralisation intersected in CMIPT073 (75.3m @ 0.4 g/t Au and 62 g/t Ag from 75m, including 10.8m @ 1.4 g/t Au and 243 g/t Ag from 134m) and CMIPT056 (14m @ 4.5 g/t Au from 153m, including 3m @ 10.5 g/t Au from 160m). The hole returned 50m @ 1.0g/t Au, 59 g/t Ag, 0.14% Zn and 0.10% Pb from 74m, including a silver-rich interval of 17m @ 113 g/t Ag and 0.4 g/t Au, and a gold-rich interval of 20m @ 2.1 g/t Au and 43 g/t Ag. These results confirm continuity of mineralisation between historical intercepts while also demonstrating variability in metal tenor, with both silver - dominant and gold-enriched zones present. Importantly, CMKNI003 extends mineralisation into an area of limited previous drilling, supporting lateral expansion of the Silica Hill system and reinforcing the presence of a broad, multi-phase hydrothermal system hosted within the rhyolite sequence. This hole is open up dip. All assay results are summarised in the Appendix, Table 1. - 5 – Phase 1 Drill Program Phase 1 drilling at the Commonwealth–Silica Hill Project comprised six HQ3 diamond drill holes for a total of 1,239m (Figure 3), targeting extensions to known mineralisation at both the Commonwealth Main Shaft and Silica Hill prospects. As shown in Figure 3, drilling was designed to test both along-strike and down-dip continuity of the mineralised system, including step-out positions beyond the current mineralisation block model. All six holes intersected sulphide mineralisation, including zones of massive, semi-massive and disseminated sulphides, confirming strong continuity of the system and supporting the interpretation of a broader, structurally controlled mineralised corridor linking Commonwealth and Silica Hill. Figure 3: Plan map ofCommonwealth and Silica Hillblock models showing the six KNI drillholes (white traces)designed to test infilland extensions to the Impact Minerals ‘previously reported mineralisation with results for the first four holes. Next steps • Assays for the remaining two drill holes are expected within the next two weeks. • Phase 2 drilling campaign to commence in June, with a focus on expanding the mineralised footprint through larger step-out drilling and testing newly defined targets generated from the integration of drilling, structural interpretation and geophysical datasets. Appendix Hole ID Sample ID From To Interval Au_ppm Ag_ppm Pb_ppm Zn_ppm CMKNI003 162698 38 39 1 <0.01 0.3 19.2 10 - 6 – CMKNI003 162699 39 40 1 <0.01 0.6 172 17 CMKNI003 162700 40 41 1 0.02 0.62 16.5 15 CMKNI003 162701 41 42 1 <0.01 0.39 13.5 13 CMKNI003 162702 42 43 1 <0.01 0.49 14.3 16 CMKNI003 162703 43 44 1 <0.01 4.33 21.4 11 CMKNI003 162704 44 45 1 <0.01 1.92 23.1 13 CMKNI003 162705 45 46 1 0.01 0.3 11.3 32 CMKNI003 162706 46 47 1 0.03 9.61 52.7 12 CMKNI003 162707 47 48 1 <0.01 14.9 7.1 17 CMKNI003 162708 48 49 1 <0.01 2.57 74.9 10 CMKNI003 162709 49 50 1 <0.01 2.49 13.4 28 CMKNI003 162711 50 51 1 <0.01 2.03 16 39 CMKNI003 162712 51 52 1 <0.01 4.51 17.3 35 CMKNI003 162713 52 53 1 <0.01 18.2 22.2 13 CMKNI003 162714 53 54 1 0.01 6.41 31 28 CMKNI003 162715 54 55 1 <0.01 4.91 21.2 36 CMKNI003 162716 55 56 1 <0.01 0.67 17.6 44 CMKNI003 162717 56 57 1 <0.01 1.54 24.7 58 CMKNI003 162718 57 58 1 <0.01 1.11 20.3 50 CMKNI003 162719 58 59 1 <0.01 1.31 22.6 48 CMKNI003 162720 59 60 1 <0.01 1.58 29.5 87 CMKNI003 162721 60 61 1 <0.01 2.14 26.1 78 CMKNI003 162722 61 62 1 <0.01 1.13 14.7 52 CMKNI003 162723 62 63 1 <0.01 0.79 15.4 54 CMKNI003 162724 63 64 1 <0.01 1.45 19.9 61 CMKNI003 162726 64 65 1 <0.01 2.14 22.4 68 CMKNI003 162727 65 66 1 0.01 7.69 41.9 99 CMKNI003 162728 66 67 1 0.03 9.59 51.1 182 CMKNI003 162729 67 68 1 0.05 15.6 45.5 75 CMKNI003 162730 68 69 1 0.09 24.3 41.2 88 CMKNI003 162731 69 70 1 0.1 13.1 24.6 178 CMKNI003 162732 70 71 1 0.1 37.7 43.1 132 CMKNI003 162733 71 72 1 0.22 41.4 64.2 299 CMKNI003 162734 72 73 1 0.21 57.8 201 148 CMKNI003 162735 73 74 1 0.08 14.9 38.1 77 CMKNI003 162736 74 75 1 0.63 111 195 234 CMKNI003 162737 75 76 1 0.32 62.4 1229 1742 CMKNI003 162738 76 77 1 0.29 72.6 186 189 CMKNI003 162739 77 77.8 0.8 0.27 221 270 387 CMKNI003 162740 77.8 78.3 0.5 0.37 420 1841 2276 CMKNI003 162741 78.3 79.1 0.8 0.08 151 764 877 CMKNI003 162742 79.1 80 0.9 0.01 3.88 11.1 49 CMKNI003 162743 80 81 1 0.03 5.28 30.7 121 CMKNI003 162744 81 82 1 0.08 10.2 21.7 163 CMKNI003 162745 82 83 1 0.14 16.6 66.1 353 CMKNI003 162746 83 83.3 0.3 0.5 673 2425 4669 - 7 – CMKNI003 162747 83.3 84.3 1 0.3 75.7 1045 2201 CMKNI003 162748 84.3 85 0.7 0.45 81.6 247 326 CMKNI003 162749 85 86 1 0.65 92.8 1536 2009 CMKNI003 162750 86 86.6 0.6 1.8 415 3191 3058 CMKNI003 162751 86.6 87 0.4 0.66 43.1 236 385 CMKNI003 162752 87 88 1 0.92 157 1544 2345 CMKNI003 162753 88 89 1 0.5 100 2588 4337 CMKNI003 162754 89 90 1 0.64 51.3 1938 2786 CMKNI003 162755 90 91 1 0.41 136 2822 2230 CMKNI003 162756 91 92 1 0.17 29.3 1281 510 CMKNI003 162757 92 93 1 0.08 16.9 66.5 162 CMKNI003 162758 93 94 1 0.07 9.4 36.4 79 CMKNI003 162759 94 95 1 0.06 5.96 31.5 82 CMKNI003 162761 95 96 1 0.15 7.49 32.4 115 CMKNI003 162762 96 97 1 0.06 6.18 27.2 104 CMKNI003 162763 97 98 1 0.19 18.1 46.4 152 CMKNI003 162764 98 99 1 0.25 23.9 59.1 312 CMKNI003 162765 99 100 1 0.2 11.6 30.3 133 CMKNI003 162766 100 101 1 0.53 67.3 584 410 CMKNI003 162767 101 102 1 0.21 5.39 33 104 CMKNI003 162768 102 103 1 0.36 5.6 165 295 CMKNI003 162769 103 104 1 2.29 28 337 487 CMKNI003 162770 104 105 1 1.95 89.1 699 830 CMKNI003 162771 105 105.3 0.3 0.3 4.71 33.4 77 CMKNI003 162772 105.3 105.6 0.3 16.52 120 10272 14949 CMKNI003 162773 105.6 106 0.4 0.07 1.64 40.5 86 CMKNI003 162774 106 106.8 0.8 1.19 3.56 208 98 CMKNI003 162776 106.8 107.4 0.6 9.95 126 6802 13715 CMKNI003 162777 107.4 108 0.6 1.06 118 4154 4987 CMKNI003 162778 108 109 1 0.81 7.82 664 770 CMKNI003 162779 109 110 1 0.51 12.2 1036 1070 CMKNI003 162780 110 111 1 0.24 12.5 1894 2458 CMKNI003 162781 111 112 1 0.71 228 4172 6906 CMKNI003 162782 112 113 1 1.18 129 2648 3447 CMKNI003 162783 113 114 1 0.31 30.2 1847 2061 CMKNI003 162784 114 115 1 0.59 17.1 1354 1779 CMKNI003 162785 115 116 1 1.6 22.3 1572 2209 CMKNI003 162786 116 117 1 2.16 14.1 758 983 CMKNI003 162787 117 118 1 1.52 6.55 322 716 CMKNI003 162788 118 119 1 2.68 8.57 374 585 CMKNI003 162789 119 120 1 4.94 9.84 629 1948 CMKNI003 162791 120 121 1 2.9 5.61 96.9 531 CMKNI003 162792 121 122 1 2.43 6.19 449 1108 CMKNI003 162793 122 123 1 0.58 1.33 29 122 CMKNI003 162794 123 124 1 0.31 3.65 417 753 CMKNI003 162795 124 124.6 0.6 0.04 0.84 14.9 67 - 8 – CMKNI003 162796 124.6 125 0.4 0.04 1.11 17.3 77 CMKNI003 162797 125 126 1 0.02 0.5 13.7 74 CMKNI003 162798 126 127 1 0.02 0.43 19.9 99 CMKNI003 162799 127 128 1 0.01 0.23 14.8 90 CMKNI003 162800 128 129 1 0.02 0.23 17.9 77 CMKNI003 162801 26 27 1 0.01 1.12 4.5 27 CMKNI003 162802 27 28 1 <0.01 0.88 18.4 24 CMKNI003 162803 28 29 1 <0.01 0.94 76.6 20 CMKNI003 162804 29 30 1 <0.01 2.39 7.4 22 CMKNI003 162805 30 31 1 <0.01 1.74 4.8 16 CMKNI003 162806 31 32 1 <0.01 0.91 4.9 14 CMKNI003 162807 32 33 1 <0.01 0.9 4.3 15 CMKNI003 162808 33 34 1 <0.01 0.9 18.6 22 CMKNI003 162809 34 35 1 <0.01 0.69 15.6 10 CMKNI003 162811 35 36 1 <0.01 0.44 6.7 18 CMKNI003 162812 36 37 1 <0.01 0.39 2.9 12 CMKNI003 162813 37 38 1 <0.01 0.5 13.4 <5 CMKNI004 162814 27 29 2 <0.01 0.89 113 61 CMKNI004 162815 29 31 2 <0.01 0.53 110 84 CMKNI004 162816 31 33 2 <0.01 0.52 54.1 96 CMKNI004 162817 33 35 2 <0.01 0.77 29.7 55 CMKNI004 162818 35 37 2 <0.01 0.95 55.7 66 CMKNI004 162819 37 38 1 <0.01 1.51 22.6 47 CMKNI004 162820 38 39 1 0.02 9.38 73.8 435 CMKNI004 162821 39 40 1 <0.01 5.54 34.9 215 CMKNI004 162822 40 41 1 0.02 4.5 62.5 280 CMKNI004 162823 41 42 1 0.02 3.78 61.1 354 CMKNI004 162824 42 43 1 <0.01 2.88 41.5 110 CMKNI004 162826 43 44 1 0.01 4.72 48.8 229 CMKNI004 162827 44 45 1 <0.01 4.63 45 154 CMKNI004 162828 45 46 1 <0.01 3.23 39.2 129 CMKNI004 162829 46 47 1 <0.01 3.76 57.5 212 CMKNI004 162830 47 48 1 <0.01 2.91 77.6 134 CMKNI004 162831 48 49 1 <0.01 2.23 62.3 166 CMKNI004 162832 49 50 1 <0.01 2.01 28 118 CMKNI004 162833 50 51 1 <0.01 3.1 24.2 129 CMKNI004 162834 51 52 1 0.01 2.43 29.1 91 CMKNI004 162835 52 54 2 0.04 5.6 32 122 CMKNI004 162836 54 56 2 0.02 1.93 18.2 80 CMKNI004 162837 56 58 2 0.02 1.32 23 64 CMKNI004 162838 58 60 2 0.01 0.64 20.8 101 CMKNI004 162839 60 62 2 0.01 0.28 22.2 90 CMKNI004 162840 62 64 2 0.02 0.24 26.3 84 CMKNI004 162841 64 66 2 0.01 0.35 21.4 74 CMKNI004 162842 66 68 2 0.04 2.26 23.6 74 CMKNI004 162843 68 70 2 0.12 8.85 41.1 103 - 9 – CMKNI004 162844 70 72 2 0.04 2.5 29.7 92 CMKNI004 162845 72 74 2 0.05 1.53 31.1 104 CMKNI004 162846 74 76 2 0.02 0.55 33.1 89 CMKNI004 162847 76 78 2 0.01 0.4 22.9 77 CMKNI004 162848 78 80 2 0.02 0.63 26 82 CMKNI004 162849 80 82 2 <0.01 2.5 26.9 98 CMKNI004 162850 82 84 2 0.07 10 52.7 217 CMKNI004 162851 84 86 2 0.11 6.08 97.3 311 CMKNI004 162852 86 88 2 0.11 5.58 105 315 CMKNI004 162853 88 90 2 0.05 1.58 27.1 58 CMKNI004 162854 90 92 2 0.04 1.49 35.1 73 CMKNI004 162855 92 94 2 0.06 2.09 43.5 103 CMKNI004 162856 94 96 2 0.04 2.13 32.7 93 CMKNI004 162857 96 98 2 0.02 1.44 14.1 63 CMKNI004 162858 98 100 2 0.06 3.13 20.2 91 CMKNI004 162859 100 102 2 0.17 5.29 26.1 78 CMKNI004 162861 102 104 2 0.13 4.56 20.5 59 CMKNI004 162862 104 106 2 0.08 3.76 23.8 97 CMKNI004 162863 106 108 2 0.03 2.44 15.1 61 CMKNI004 162864 108 110 2 0.05 2.55 28 31 CMKNI004 162865 110 112 2 0.05 3.28 18.9 37 CMKNI004 162866 112 114 2 0.08 5.42 26 33 CMKNI004 162867 114 116 2 0.07 4.8 25.5 49 CMKNI004 162868 116 118 2 0.05 3.76 24.5 51 CMKNI004 162869 118 120 2 0.03 2.65 20.8 46 CMKNI004 162870 120 122 2 0.04 2.35 24.3 46 CMKNI004 162871 122 124 2 0.03 2.03 20.3 49 CMKNI004 162872 124 126 2 0.03 2.03 17 41 CMKNI004 162873 126 128 2 0.04 3.01 19.2 45 CMKNI004 162874 128 130 2 0.04 3.05 17.1 42 CMKNI004 162876 130 132 2 0.03 3.04 22 41 CMKNI004 162877 132 134 2 0.05 3.93 26.8 29 CMKNI004 162878 134 136 2 0.03 3.18 14.2 26 CMKNI004 162879 136 138 2 0.02 1.76 13.1 21 CMKNI004 162880 138 139 1 0.05 4.77 25.7 27 CMKNI004 162881 139 140 1 0.04 3.47 18.9 25 CMKNI004 162882 140 141 1 0.07 8.93 28.7 24 CMKNI004 162883 141 142 1 0.02 1.61 11.8 21 CMKNI004 162884 142 143 1 <0.01 0.72 6.1 15 CMKNI004 162885 143 145 2 0.02 1.71 13.7 29 CMKNI004 162886 145 146 1 0.02 2.2 15.9 15 CMKNI004 162887 146 147 1 0.03 2.09 14.4 28 CMKNI004 162888 147 148 1 0.03 2.74 17.3 43 CMKNI004 162889 148 149 1 0.03 2.49 17 40 CMKNI004 162891 149 150 1 0.03 1.94 15.1 34 CMKNI004 162892 150 152 2 0.03 2.42 19.2 43 - 10 – CMKNI004 162893 152 154 2 0.03 2.42 23 45 CMKNI004 162894 154 156 2 0.03 1.95 15.7 33 CMKNI004 162895 156 158 2 0.02 2.59 21.4 84 CMKNI004 162896 158 160 2 <0.01 1.78 30.8 99 CMKNI004 162897 160 162 2 0.01 1.83 28.9 84 CMKNI004 162898 166 168 2 <0.01 1.21 23.7 85 CMKNI004 162899 168 170 2 <0.01 0.34 21.5 70 CMKNI004 162900 170 172 2 <0.01 0.65 21.4 74 CMKNI004 162901 172 174 2 <0.01 0.95 24 77 CMKNI004 162902 174 176 2 <0.01 2.36 35 90 CMKNI004 162903 191 193 2 <0.01 0.85 83.5 193 CMKNI004 162904 193 194 1 <0.01 0.79 33.6 162 CMKNI004 162905 194 195 1 0.03 2.89 98.2 262 CMKNI004 162906 205 207 2 8.3 1.25 14.6 28 CMKNI004 162907 207 209 2 <0.01 1.36 20 56 CMKNI004 162908 209 211 2 <0.01 1.69 27.1 64 CMKNI004 162909 211 213 2 <0.01 0.55 21.1 67 CMKNI004 162911 218 219 1 0.02 30.6 931 1153 CMKNI004 162912 219 220 1 0.02 7.7 56.6 121 CMKNI004 162913 220 221 1 <0.01 2.02 29.7 99 CMKNI004 162914 221 222 1 0.03 2.51 34 72 CMKNI004 162915 222 224 2 0.04 2.63 30.9 64 CMKNI004 162916 224 226 2 0.03 2.57 30.5 83 CMKNI004 162917 226 227 1 0.11 39 105 318 CMKNI004 162918 227 227.5 0.5 0.2 72 230 569 CMKNI004 162919 227.5 228.1 0.6 3.38 1560 2576 6603 CMKNI004 162920 228.1 229 0.9 0.92 627 981 2174 CMKNI004 162921 229 230 1 0.22 181 255 637 CMKNI004 162922 230 230.4 0.4 0.23 192 227 571 CMKNI004 162923 230.4 230.9 0.5 26.92 20603 15111 32895 CMKNI004 162924 230.9 232 1.1 0.16 33.1 49 126 CMKNI004 162926 232 233 1 0.16 37 51.5 129 CMKNI004 162927 233 234 1 0.11 5.28 29.5 100 CMKNI004 162928 234 235 1 0.07 3.68 26.5 103 CMKNI004 162929 235 236 1 0.06 7.36 29.2 100 CMKNI004 162930 236 238 2 0.06 3.52 50.6 94 CMKNI004 162931 238 240 2 0.07 1.61 25.7 95 CMKNI004 162932 240 241 1 0.1 3.82 66.3 125 CMKNI004 162933 241 242 1 0.08 5.95 41.3 107 CMKNI004 162934 242 243 1 0.22 3.56 356 623 CMKNI004 162935 243 244 1 0.42 3.15 77.8 696 CMKNI004 162936 244 245 1 0.44 3.34 1143 1194 CMKNI004 162937 245 246 1 0.22 1.31 257 302 CMKNI004 162938 246 247 1 0.37 2.28 79 241 CMKNI004 162939 247 248 1 1.62 1.39 271 891 CMKNI004 162940 248 249 1 0.18 0.74 59.7 228 - 11 – CMKNI004 162941 249 250 1 15.18 13.5 2601 8890 CMKNI004 162942 250 251 1 0.01 5.1 2040 704 CMKNI004 162943 251 252 1 4.96 3.68 979 3463 CMKNI004 162944 252 253 1 0.03 1.55 378 2603 CMKNI004 162945 253 254 1 0.2 1.19 138 117 CMKNI004 162946 254 255 1 0.16 1.2 29.8 620 CMKNI004 162947 255 256 1 0.33 0.93 241 656 CMKNI004 162948 256 257 1 0.16 0.55 36.3 43 CMKNI004 162949 257 258 1 0.18 3.1 1341 315 CMKNI004 162950 258 259 1 0.09 0.77 127 237 CMKNI004 162951 259 260 1 0.65 1.01 288 1082 CMKNI004 162952 260 261 1 2.56 1.95 1173 1323 CMKNI004 162953 261 262 1 0.38 4.05 2329 2202 CMKNI004 162954 262 263 1 0.22 0.55 83 437 CMKNI004 162955 263 264 1 1 2.15 645 972 CMKNI004 162956 264 265 1 0.03 0.29 33.6 53 CMKNI004 162957 265 266 1 0.05 1.19 24 52 CMKNI004 162958 266 267 1 0.15 0.87 16.7 24 CMKNI004 162959 267 268 1 0.56 6.27 1052 839 CMKNI004 162961 268 269 1 0.09 1.48 9.7 14 CMKNI004 162962 269 270 1 0.08 1.56 27 37 CMKNI004 162963 270 271 1 0.18 1.26 72 240 CMKNI004 162964 271 273 2 0.47 2.04 212 595 CMKNI004 162965 273 275 2 0.13 0.48 17 125 CMKNI004 162966 275 277 2 0.07 0.83 176 371 CMKNI004 162967 277 279 2 0.06 1.13 435 1278 CMKNI004 162968 279 280 1 0.63 1.75 1169 4241 CMKNI004 162969 280 281 1 0.31 1.92 1132 4307 CMKNI004 162970 281 282 1 0.1 2.27 1677 3462 CMKNI004 162971 282 283 1 0.09 7.6 6558 8086 CMKNI004 162972 283 284 1 0.07 2.57 1630 3600 CMKNI004 162973 284 285 1 0.14 1.71 1007 2265 CMKNI004 162974 285 286 1 0.11 2.78 1690 3802 CMKNI004 162976 286 287 1 0.2 1.49 698 1802 CMKNI004 162977 287 288 1 0.38 1.88 730 6345 CMKNI004 162978 288 289 1 0.17 3.56 2329 6821 CMKNI004 162979 289 290 1 0.13 2.91 1913 3610 CMKNI004 162980 290 291 1 0.13 0.4 39.9 99 CMKNI004 162981 291 292 1 0.79 2.84 1349 3052 CMKNI004 162982 292 293 1 0.29 2.04 939 2212 CMKNI004 162983 293 294 1 0.29 3.07 1513 3748 CMKNI004 162984 294 295 1 0.37 6.93 4924 6938 CMKNI004 162985 295 296 1 0.18 1.82 968 1391 CMKNI004 162986 296 297 1 0.21 3.59 1973 3425 CMKNI004 162987 297 298 1 0.16 2.07 893 3873 CMKNI004 162988 298 300 2 0.12 5.4 661 1158 - 12 – CMKNI004 162989 300 302 2 0.14 5.64 67.5 516 CMKNI004 162991 308 309 1 0.01 0.63 380 703 CMKNI004 162992 309 310 1 0.19 2.88 2227 2928 CMKNI004 162993 310 311 1 0.04 0.76 399 732 Table 1: Drill assay results Table 2: Drill collar table of 6 diamond holes drilled to date totalling 1239 m of drilling. Hole ID Grid ID Easting Northing RL Dip Azimuth Depth(m) CMKNI001 MGA94_55 692232.9 6392946.4 361.38 -54.63 224.73 174 CMKNI002 MGA94_55 692257.11 6392910.2 365.14 -69.44 234.02 192.9 CMKNI003 MGA94_55 692341.11 6393007.5 390.46 -63.98 256.82 173.1 CMKNI004 MGA94_55 692343.68 6393010.7 390.48 -70.75 308.3 326.4 CMKNI005 MGA94_55 692297.1 6392723.9 340.37 -65.64 245.17 219.4 CMKNI006 MGA94_55 692334.05 6392603.6 361.58 -66.65 241.05 152.8 - 13 – Commonwealth Gold–Silver Project Overview TheCommonwealth Project lies ~100 km north of Orange, NSW, within the prolific Lachlan Fold Belt — a Tier-1 region hostingmajor operations such as Cadia–Ridgeway (owned by Newmont), Northparkes and Cowal (both owned by Evolution Mining). The Commonwealth Project lies immediately along trend from Alkane's Boda-Kaiserporphyry copper-gold deposit, containingover10 million ounces ofgold equivalent (Refer: Figure 4). TheProject comprises two genetically related deposits located within 200 metres of each other: • Commonwealth Main and Commonwealth South deposit: a polymetallic VMS-style system characterised by high-grade gold, silver and zinc mineralisation, including massive sulphide lenses with strongbase metal credits; and • Silica Hill deposit: an epithermal stockwork vein system hosting high-grade silver mineralisation, with abundantsilversulphosalts and broad zones ofdisseminated and stringer sulphides. The Project also has exploration upside with multiple