Drilling Progresses at the Wagyu Gold Project, Pilbara WA

New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to report that the Reverse Circulation (RC) Drill Program is progressing positively at the Wagyu Gold Project (Figure 1). A total of 1,896 m has been drilled so far over 20 drill holes, with an average depth of 95m. The program is targeting strike and depth extensions to known ‘Hemi Style’ gold mineralisation and new undrilled areas of high-gold prospectivity (Refer to ASX Announcement 6 November 2025).

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Drilling to date has intersected similar lithologies and alteration styles to those from mineralisation drilled in the first RC program (March 2025), and testing at depth has highlighted extensions at depth in the ‘Hemi Style’ intrusives. Gold mineralisation at Wagyu is generally only confirmed from assay data, due to the intense alteration and fine-grained nature of sulphides present.

Drilling will continue to 22^nd December and resume in early January.

HIGHLIGHTS

• Drilling is progressing positively at the Wagyu Gold Project with 20 drill holes completed for a total of 1,896m.
  
• Program has so far tested high-priority Targets 1, 10 and 11. Drill rig has moved north and is currently at Target 6.
• Drilling to date has intersected similar lithologies and alteration styles to those from mineralisation drilled in the first RC program (March 2025), with several intersections at depth in intermediate ‘Hemi Style’ intrusives.
• Assay results are expected throughout Q1 2026.
• The Wagyu Gold Project lies 5km west of Northern Star Resources’ 11.2Moz¹ Hemi Gold Deposit within the mineralised Mallina Basin corridor

NAE Executive Director Joshua Wellisch commented:

“We are very pleased with the current progress of the Wagyu drilling program as the team endeavours to advance the extensions of the known gold mineralisation at depth and along strike; uncover new gold mineralisation and to further understand the geological controls.”

Figure 1: Drill hole collars at the Wagyu Gold Project with assays pending for the current RC drill program and the maximum downhole gold assay result shown from previous drilling.

Geology

Encouraging signs of mineralisation have been identified in numerous drill holes during the drill campaign, which NAE hopes will extend the high-grade gold along strike and at depth. Drill hole 25WR045 intercepted 13m of consistent quartz veining within an intrusive body (Figure 1), with associated sulphides (pyrite and pyrrhotite) and alteration (carbonate and chlorite), which is indicative of targeting success.

Figure 2: Chip tray photo of 140-160m in drill hole 25WR045. Note the consistent quartz veining from 142-155m with a significant vein at 151-155m.

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