Quarterly Activities Report for the Quarter ended 30 September 2025

Highlights

Executing WA Gold Strategy

• MBK continues to execute it’s fast-track gold production strategy. This includes building a gold portfolio in WA with assets that have the potential for near term production utilizing nearby third-party processing infrastructure, building on current defined resources, and exploiting significant exploration upside¹.
• MBK’s Livingstone Project holds a global gold Resource of 2.81Mt @ 1.36g/t Au for 122.6koz Au (70% Inferred, 30% Indicated)² with:
  • 1.68Mt @ 1.35g/t Au for 73.0koz Au (Inferred Resource) at Kingsley; and
  • 1.00Mt @ 1.35g/t Au for 43.4koz Au (83% Indicated, 17% Inferred Resource) at Homestead.
• All Resources are at surface/near surface within trucking distance to existing gold mining and processing centers.
• MBK is seeking to fast-track production at the shallow resources at Homestead and Kingsley prospects, at the Livingstone Gold Project in WA, with a scoping study commencing during the Quarter³.
• In pursuit of its strategy, MBK has agreed to acquire the gold assets of Hastings Technology Metals Ltd (HAS), including the Whiteheads Project, for MBK Shares⁴ subject to conditions precedent including approval of shareholders of MBK and HAS.
• HAS’ Whiteheads gold project, nearKalgoorlie, is well placed for fast-track to production with drilling recently completed at the Seven Leaders prospect and mine design andmine planning in progress⁵.

• Millennium Co-Cu-Au-graphite project represents a near-term critical minerals development opportunity, at surface, on granted mining leases and proximal to existing mining infrastructure in Cloncurry and surrounding areas that are renowned exploration and mining region.
  
• Drilling is scheduled to commence at Millennium in November as the first step in the Queensland Government Critical Minerals Collaborative Exploration Initiative grant-supported work program⁶.
  
• The work program includes diamond drilling, re-assaying of previous drill samples and preliminary metallurgical work and is aimed to advance ancillary graphite potential alongside the current Co-Cu-Au Mineral Resource.

Saudi Arabia

• MBK continues to assess new potential project areas in Saudi Arabia prospective for copper, gold and other critical minerals with six applications for exploration licenses lodged and one granted in 2024.
  
• MBK continues discussions with third parties holding exploration licences regarding potential co-operation.

Corporate

• MBK is undertaking a partially underwritten Entitlement Offer of one (1) New Share for every three (3) shares held by eligible shareholders at an offer price of $0.014 per share to raise up to $2.32M.
  
• This offer is partially underwritten and has been well supported to date.
• MBK’s Annual General Meeting will be held on 10 November 2025 at 3pm at the Offices of RSM Australia, Level 7, 1 Martin Place, Sydney NSW 2000.

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