Growth Strategy Initiated with Option to Acquire Scandinavian Copper-Gold Project

South Harz Potash Limited (ASX:SHP) (South Harz or the Company) is pleased to announce that it has entered into an option heads of agreement to acquire the Glava Copper-Gold-Silver project in south-western Sweden. The acquisition marks the first step in the Company’s transition toward a diversified, multi-asset exploration and development strategy.

South Harz Executive Chairman Mr Len Jubber, commented:

“The Glava acquisition option represents an exciting milestone and opportunity for South Harz to leverage our European footprint into one of the most geologically prospective and underexplored copper-gold provinces in Scandinavia. This first step transforms South Harz into a diversified resources company, moving from a single asset company towards a broader regional platform. While we maintain strategic patience with our large-scale South Harz Potash Project, we are broadening our portfolio to include metals essential to global supply chains and the energy transition.

The Glava Project offers immediate discovery potential, hosting visible bornite, covellite, and chalcocite epithermal mineralisation with gold, silver and tellurium in outcropping vein systems, including historic
artisanal production of over 10% copper. Negligible glacial till allows for the use of proven, cost-effective exploration techniques. Initial field activities, including a magnetic survey have been completed under
the guidance of McKnight Resources and we look forward to analysing and interpreting the gathered information in the coming weeks. We are committed to systematically exploring Glava’s potential, while continuing to evaluate complementary opportunities to strengthen the portfolio and create sustained shareholder value.”

Highlights

• Option Agreement executed to acquire Glava Cu-Au-Ag Project, located in Värmland Province, Sweden
• First potential acquisition under South Harz’s diversified asset growth strategy, expanding its portfolio into critical (base) and precious metals alongside German potash assets
• High-grade epithermal copper mineralisation, with associated gold, silver and tellurium, confirmed by recent sampling. Historic artisanal mining recorded up to 10.5% Cu
• Negligible glacial till allows for use of proven, cost-effective exploration techniques
• Ground magnetic survey and rock chip sampling completed in November 2025, with results to feed into drill target generation
• Option Agreement includes strategic relationship with vendors McKnight Resources AB, resulting in established and experienced exploration capability in Sweden
• The potential acquisition delivers immediate discovery opportunity, while preserving the long term value and optionality in the perpetual tenure across the SHP German potash projects

The Glava Project

The Glava Project, which is located in Sweden’s Värmland region (Figure 1), covers 430Ha under a single exploration licence within the eastern extensions of the Proterozoic Grenville Orogenic Belt, an emerging copper-gold exploration district extending through Scandinavia, the UK, Greenland and Newfoundland.

The project area comprises a highly prospective and underexplored copper-gold system with a history of high-grade artisanal production. It hosts outcropping bornite, covellite and chalcocite mineralisation, and visible tellurides, as described in the Sweden Geologiocal Survey (SGU) database, at two mineral occurrences, namely Glava Koppagruvor and Skarpning SV Glava (Figure 1). The telluride minerals are frequently a component of epithermal deposits. This acquisition gives South Harz immediate exploration access to critical and precious metals in a Tier-1 European jurisdiction.

Figure 1: Location of the Glava Cu-Au-Ag Project in Western Sweden

Historic records show that artisanal mining at Glava Koppargruvor produced about 2,280 tonnes of rock, including 49 tonnes with a grade of 10.5% Cu, as well as additional enriched ore stockpiles from shallow early 20th-century workings (Lundegårdh 1995). Two main accessible shallow open pits (East and West), together with an abandoned 14m deep shaft, provided opportunities for a modern assessment of the geological setting and sampling of the material on the adjacent waste dumps (Figure 2). Mineralisation is structurally controlled along a north-south oriented fracture array that intersects the shallow-south-dipping meta-sediment host rocks. The target zone is interpreted to be dipping towards the south (refer Figure 2, Longitudinal Section).

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