Announcement PDF INTERIM FINANCIAL REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2024 This consolidated interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by Castle Minerals Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) CONTENTS Page Directors’ Report 3 Auditor’s Independence Declaration 7 Consolidated Statement of Profit or Loss and Other Comprehensive Income 8 Consolidated Statement of Financial Position 9 Consolidated Statement of Changes in Equity 10 Consolidated Statement of Cash Flows 11 Notes to the Consolidated Interim Financial Statements 12 Directors’ Declaration 18 Independent Auditor’s Review Report to The Members 19 Page 2 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) DIRECTORS’ REPORT Your directors submit their report on the consolidated entity (referred to hereafter as the “Group”) consisting of Castle Minerals Limited (“Castle” or “Company”) and the entities it controlled at the end of, or during, the half-year ended 31 December 2024. Directors The names of the directors who held office during or since the end of the half-year are: Stephen Stone - Executive Chairman James Guy - Non-Executive Director Mathew Horgan - Non-Executive Director Review and Results of Operations A summary of consolidated revenues and results for the half-year is set out below: Dec 2024 Revenue & Other Income Consolidated Revenue and Other Income $3,247 Dec 2023 Loss after tax Revenue & Other Income $(1,400,150) Loss after tax $19,339 $(1,938,913) During the period, the consolidated entity undertook the following activities: GHANA (WEST AFRICA): Castle’s wholly owned Ghanaian subsidiary, Carlie Mining Limited, owns the Wa Gold Project in Ghana’s Upper West Region which hosts the Kpali Gold Project (comprising the Kpali, Kpali East and Bundi gold prospects) and the Kandia Gold Project. Both projects are located in highly prospective Birimian geological terrane, the host to many of West Africa’s and Ghana’s multi-million-ounce gold mines. Castle’s 100% owned Ghanaian subsidiary, Kambale Graphite Limited, owns the Kambale Graphite Project which is also located in Ghana’s Upper West Region. The project is progressing through technical and commercial evaluation for the production of battery grade material to be used in lithium-ion battery manufacture. During the period, the consolidated entity undertook the following activities on these projects: 1. Kpali & Kandia Gold Projects (100% owned by Carlie Mining Limited) Carlie Mining Limited holds a 2,686km2 tenure position in Ghana’s Upper West region in Ghana’s far north. This region has more recently seen two of West Africa’s better discoveries and success stories. The 5.1Moz Namdini gold deposit, discovered by Cardinal Resources Limited prior to its takeover by Shandong Gold Limited in 2020, has just been commissioned and lies on the same Bole-Bolgatanga Birimian greenstone belt as Castle’s Kandia discovery. The Azumah Resources Limited owned 2.8Moz Black Volta Gold Project (“BVGP”) is earmarked for development in 2025. A majority of the gold from the BVGP was discovered by Castle’s Executive Chairman, Stephen Stone, under his former stewardship of Azumah. A compelling driver for exploring the Kpali Gold Project is its advantageous location at the convergence of two major greenstone belts (Bole-Bolgatanga and Wa-Lawra/Boromo) and three regional-scale structures. Page 3 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) These structures are all associated with gold deposits which supports the thesis that the region provides a large and prospective “search base” for the discovery of a major new West African mining camp. The Kpali, Bundi, Kpali East, Wa Southeast and Wa Southwest prospects on the Kpali Gold Project are essentially “blind” discoveries as bedrock hosting mineralisation in these locations is largely obscured by extensive but generally shallow soils and alluvium. This explains the lack of artisanal mining activity which often leads explorers into a new area. Castle’s structured and systematic approach to exploration in this environment is proving highly effective across its extensive tenure. Castle has undertaken two RC drilling programmes in the last six-months that tested the Kpali prospect, the Kpali East gold prospect and the Kandia Gold Project. These programmes returned excellent results that confirmed the prospectivity of these areas, setting out a framework for future drilling programmes. The Kpali Gold Project appears to present all the hallmarks of a new West African mining camp and the possibility of a considerable gold endowment. The 16km prospective Kandia trend is immediately along strike of the BVGP’s high-grade Julie deposit. 2. Julie West Royalty (100% owned by Carlie Mining Limited) Carlie Mining Limited retains a 4% net smelter precious metal royalty over the Julie West licence, a key component of Azumah Resources Limited’s nearby Black Volta Gold Project. However, due to extensive artisanal mining activity and access issues, the likelihood of realising value for this royalty is uncertain. 3. Kambale Graphite Project (100% owned by Kambale Graphite Limited) Located in Ghana’s Upper West Region, Castle continues to advance its 100% owned Kambale Graphite Project, through technical and commercial evaluation for the production of battery grade material to be used in lithium-ion battery manufacture. This coincides with a forecast increase in demand for, and looming supply deficit of, natural fine flake graphite concentrates and Battery Anode Material. Natural fine flake graphite concentrates with specifications meeting industry requirements can be sold asis or can be processed into much higher value products for use in the manufacture of electric vehicle (“EV”) batteries, stationary power storage units, consumer electronic products and a range of specialist industrial applications. The global shift to renewable energy generation goes hand-in-hand with the need for power storage systems which are dominated by lithium-ion batteries of which graphite is the largest mineral component. There is increasing momentum by western manufactures to establish non-China graphite supply chains. During the period Castle executed a landmark indicative non-binding term sheet (“Term Sheet”) with Ghana’s sovereign Mineral Income Investment Fund (“MIIF”) for a combined investment of US$2.0M (~A$3.0M) to advance its Kambale Graphite Project. This proposed transformational deal, if it proceeds to finalisation, will fund the Project through to a pre-feasibility study that will evaluate the production of specialist natural graphite concentrates and value-added products used in the manufacture of lithium-ion battery anodes for electric vehicles and energy storage. Kambale Graphite Project Summary JORC CODE (2012) MRE (5% TGC cut-off) 1 Classification Tonnes (kt) Contained TGC (kt) TGC (%) Indicated 9,556 843 8.8% Inferred 12,872 1,096 8.5% Total 22,428 1,939 8.6% 1. Refer ASX release 23 October 2023 ‘Castle Boosts Kambale Graphite Resource To 22.4Mt’, undertaken by independent consultants Palaris (Australia) Pty Ltd as the competent person. 2. Castle confirms that it is not aware of any new information or data that materially affects the Kambale Graphite Project’s Mineral Resource Estimate included in this announcement and that all material assumptions Page 4 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed. Castle confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified. WESTERN AUSTRALIA: The Polelle Project, 7km southeast of the operating Bluebird gold mine near Meekatharra, hosts a mainly obscured and minimally explored greenstone belt prospective for gold and possibly base metals. The Wanganui Project is prospective for down-plunge high-grade gold shoots. Both have been optioned for purchase to Great Boulder Resources Limited (ASX: GBR) (“GBR”) for possible incorporation into its emerging Side Well project. On 10 December 2024, GBR exercised its right to extend the term of the option it held to acquire 75% of the Company’s Meekatharra projects, by 12 months to 30 November 2025. As part of the extension, GBR committed to a minimum cumulative exploration spend of $600,000 during the full two year option term and Castle waived the option extension fee payable by GBR. Please refer to the Company’s announcement dated 3 March 2025 for further details. The Terra Rossa copper-zinc project is located on the western flanks of the Earaheedy Basin. It is adjacent to the evolving World-Class Earaheedy zinc-lead project of Rumble Resources Ltd (ASX: RTR). The Beasley Creek project is prospective for gold and lithium and lies on the northern flanks of the Rocklea Dome in the southern Pilbara. Farm-outs or sales are being sought for the Terra Rossa and Beasley Creek projects. Directors’ Remuneration Remuneration arrangements to directors are disclosed in the annual financial report. During the half-year the total remuneration to Directors amounted to $195,557. In addition, during the interim period 10,000,000 options were issued to a non-executive director Mathew Horgan in accordance with the approval at the AGM on 29 November 2024. Subsequent Events 1) On 3 March 2025 the Company announcement that: a. it had received firm commitments to raise $3,105,0000 via a share placement from sophisticated and professional investors together with Directors of the Company, to fund the next phase of exploration at the Company’s Kpali and Kandia Gold Projects in Ghana’s upper west region. Participants under the placement are entitled to subscribe for 1 unlisted option for every 2 shares issued under the placement; b. as a condition of the placement, the Company will seek shareholders’ approval at general meeting to consolidate the Company’s issued capital through the conversion ratio of 30 securities into 1 security; and c. subject to completion of the consolidation and placement, the Company intended to undertake a loyalty offer of options via a pro-rata, non-renounceable entitlements issue of 1 option for every 3 shares held in the Company by eligible investors. Please refer to the Company’s announcement dated 3 March 2025 for further details. 2) On 22 August 2024 the Company announced that it had entered into a Memorandum of Understanding which set out the drill-for-equity arrangement with Geodrill Limited (“Geodrill”) whereby up to US$100,000 of the recently completed Kpali drilling programme will be paid to Geodrill through the issue of ordinary Shares with one attaching unlisted option. Page 5 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) The Company issued 31,008,772 shares and 31,008,772 unlisted options to Geodrill on 7 March 2025, pursuant to the Memorandum of Understanding, in contra of US$48,218.64 drilling costs incurred as part of the Kpali drilling programme undertaken in December 2024 and January 2025. Other than as detailed above, no matter or circumstance has arisen since 31 December 2024, which has significantly affected, or may significantly affect the operations of the Group, the result of those operations, or the state of affairs of the Group in subsequent financial years. Rounding of Amounts The Company is of a kind referred to in ASIC Legislative Instrument 2016/191 relating to the ‘rounding off of amounts in the directors’ report. Amounts in the directors’ report have been rounded off in accordance with the instrument to the nearest dollar. Auditor’s Independence Declaration A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out on page 7. This report is made in accordance with a resolution of directors. Stephen Stone Executive Chairman Perth, 7 March 2025 Page 6 Tel: +61 8 6382 4600 Fax: +61 8 6382 4601 www.bdo.com.au Level 9, Mia Yellagonga Tower 2 5 Spring Street Perth, WA 6000 PO Box 700 West Perth WA 6872 Australia DECLARATION OF INDEPENDENCE BY NEIL SMITH TO THE DIRECTORS OF CASTLE MINERALS LIMITED As lead auditor for the review of Castle Minerals Limited for the half-year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been: 1. No contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and 2. No contraventions of any applicable code of professional conduct in relation to the review. This declaration is in respect of Castle Minerals Limited and the entities it controlled during the period. Neil Smith Director BDO Audit Pty Ltd Perth 7 March 2025 BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050 110 275 Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2024 Half-Year Note Dec 2024 Dec 2023 $ $ REVENUE AND OTHER INCOME Interest income 3,247 19,339 Fair value gains on financial assets at fair value through profit or loss - 3,075 Option fee on tenement farm-out - 50,000 (5,666) (13,248) (131,462) (116,383) (837,935) (1,400,406) Corporate expenses (75,404) (59,039) Administration expenses (286,367) (240,251) (718) - (65,845) (182,000) (1,400,150) (1,938,913) - - (1,400,150) (1,938,913) Exchange differences on translation of foreign operations (11,210) (41,637) Other comprehensive loss for the period, net of tax (11,210) (41,637) (1,411,360) (1,980,550) (0.08) (0.17) EXPENDITURE Depreciation expense Salaries and employee benefits expense Exploration expenses 3 Finance costs Share-based payments expense LOSS BEFORE INCOME TAX Income tax expense LOSS AFTER TAX FOR THE HALF-YEAR ATTRIBUTABLE TO MEMBERS OF CASTLE MINERALS LIMITED 6 OTHER COMPREHENSIVE INCOME Items that may be reclassified to profit or loss TOTAL COMPREHENSIVE LOSS FOR THE PERIOD ATTRIBUTABLE TO MEMBERS OF CASTLE MINERALS LIMITED Basic and diluted loss per share (cents) The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the Notes to the Consolidated Financial Statements. Page 8 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 Note 31 December 30 June 2024 2024 $ $ 1,190,870 1,023,219 38,640 50,452 1,229,510 1,073,671 Property, plant and equipment 27,245 32,673 TOTAL NON-CURRENT ASSSETS 27,245 32,673 1,256,755 1,106,344 Trade and other payables 621,367 540,504 Employee benefit obligations 41,733 38,888 TOTAL CURRENT LIABILITIES 663,100 579,392 Employee benefit obligations - 16,228 TOTAL NON-CURRENT LIABILITIES - 16,228 TOTAL LIABILITIES 663,100 595,620 NET ASSETS 593,655 510,724 39,812,942 38,519,821 2,315,240 2,125,280 (41,534,527) (40,134,377) 593,655 510,724 CURRENT ASSETS Cash and cash equivalents 4 Trade and other receivables TOTAL CURRENT ASSETS NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES NON-CURRENT LIABILITIES EQUITY Contributed equity Reserves Accumulated losses TOTAL EQUITY 5 The above Consolidated Statement of Financial Position should be read in conjunction with the Notes to the Consolidated Financial Statements. Page 9 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2024 Note BALANCE AT 1 JULY 2023 Contributed Equity Share-Based Payments Reserve Foreign Currency Translation Reserve Accumulated Losses Total $ $ $ $ $ 37,316,926 1,696,136 272,316 (37,253,004) 2,032,374 - - - (1,938,913) (1,938,913) Exchange differences on translation of foreign operations - - (41,637) - (41,637) Total Comprehensive Loss - - (41,637) (1,938,913) (1,980,550) Loss for the period Other Comprehensive Income Transactions with Owners in Their Capacity as Owners Shares issued during the period 1,000,000 - - - 1,000,000 Share issue transaction costs (236,890) 10,969 - - (225,921) - 182,000 - - 182,000 BALANCE AT 31 DECEMBER 2023 38,080,036 1,889,105 230,679 (39,191,917) 1,007,903 BALANCE AT 1 JULY 2024 38,519,821 1,922,105 203,175 (40,134,377) 510,724 - - - (1,400,150) (1,400,150) Exchange differences on translation of foreign operations - - (11,210) - (11,210) Total Comprehensive Loss - - (11,210) (1,400,150) (1,411,360) Options issued during the period Loss for the period Other Comprehensive Income Transactions with Owners in Their Capacity as Owners Shares issued during the period 5 1,539,445 - - - 1,539,445 Share issue transaction costs 5 (246,324) - - - (246,324) Options issued during the period 6 - 201,170 - - 201,170 39,812,942 2,123,275 191,965 (41,534,527) 593,655 BALANCE AT 31 DECEMBER 2024 The above Consolidated Statement of Changes in Equity should be read in conjunction with the Notes to the Consolidated Financial Statements. Page 10 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF-YEAR ENDED 31 DECEMBER 2024 Half-year Dec 2024 Dec 2023 $ $ Expenditure on mining interests (636,816) (1,982,199) Payments to suppliers and employees (inclusive of GST) (503,302) (362,692) 3,247 40,684 (1,136,871) (2,304,207) Proceeds from term deposits - 2,000,000 Payments for property, plant and equipment - (2,449) Net cash inflow from investing activities - 1,997,551 Proceeds from the issue of shares 1,395,000 1,000,000 Payments for share issue transaction costs (75,000) (205,777) Net cash inflow from financing activities 1,320,000 794,223 Net increase in cash and cash equivalents 183,129 487,567 Cash and cash equivalents at the beginning of the half-year 1,023,219 700,240 Effects of exchange rate changes on cash and cash equivalents (15,478) (4,790) CASH AND CASH EQUIVALENTS AT THE END OF THE HALF-YEAR 1,190,870 1,183,017 CASH FLOWS FROM OPERATING ACTIVITIES Interest received Net cash (outflow) from operating activities CASH FLOWS FROM INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES The above Consolidated Statement of Cash Flows should be read in conjunction with the Notes to the Consolidated Financial Statements. Page 11 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. BASIS OF PREPARATION OF THE HALF-YEAR FINANCIAL REPORT This consolidated interim financial report for the half-year reporting period ended 31 December 2024 has been prepared in accordance with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001. This consolidated interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by Castle Minerals Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period unless otherwise stated. New and amended standards adopted by the Group A number of amended standards became applicable for the current reporting period. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amended standards. Impact of standards issued but not yet applied by the Group The Group has also reviewed all new Standards and Interpretations that have been issued but are not yet effective for the half-year ended 31 December 2024. As a result of this review the Directors have determined that there is no impact, material or otherwise, of the new and revised Standards and Interpretations on its business and, therefore, no change necessary to Group accounting policies. Going concern The financial report has been prepared on a going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business. For the half-year ended 31 December 2024 the consolidated entity had a loss of $1,400,150 (Dec 2023: $1,938,913) and had net cash outflows from operating activities of $1,136,871 (Dec 2023: $2,304,207). The Group had no cash generating assets in operation at 31 December 2024 and is unlikely to generate any operating revenue unless its projects are successfully developed or its interests in them monetised. The ability of the Group to continue as a going concern is dependent on the Group being able to raise additional funds as required to meet ongoing and budgeted exploration commitments and for working capital. These conditions indicate a material uncertainty that may cast significant doubt about the Group’s ability to continue as a going concern and, therefore, it may be unable to realise its assets and discharge its liabilities in the normal course of business. The Directors believe that they will be able to raise additional capital as required and are in the process of evaluating the Group’s cash requirements. The Directors believe that the Group will continue as a going concern. As a result, the financial report has been prepared on a going concern basis. However, should the Group be unsuccessful in undertaking additional raisings, the Group may not be able to continue as a going concern. No adjustments have been made relating to the recoverability and classification of liabilities that might be necessary should the Group not continue as a going concern. Should the going concern basis not be appropriate, the Group may have to realise its assets and extinguish its liabilities other than in the ordinary course of business and at amounts different from those stated in the financial report. No allowance for such circumstances has been made in the financial report. Page 12 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) NOTE 2. SEGMENT INFORMATION For management purposes, the Group has identified two reportable segments being: exploration activities undertaken in Australia; and, exploration activities undertaken in Ghana, West Africa. These segments include activities associated with the determination and assessment of the existence of commercial economic reserves, from the Group’s mineral assets in the respective geographic location. Segment performance is evaluated based on the operating profit or loss and cash flows and is measured in accordance with the Group’s accounting policies. Half-year Exploration Segments Dec 2024 Dec 2023 $ $ Segment income – Australia - Segment income – Ghana - 50,000 - Segment income – Total - 50,000 3,247 19,339 - 3,075 3,247 72,414 Reconciliation of segment income to total income before tax: Interest income Fair value gains on financial assets Total income Segment results – Australia (178,724) (260,752) Segment results – Ghana (787,429) (1,089,654) Segment results – Total (966,153) (1,350,406) Reconciliation of segment result to loss before tax: Corporate depreciation (5,666) (13,248) Share-based payments expense (65,845) (182,000) Other corporate and administration (362,486) (393,259) (1,400,150) (1,938,913) Profit/(loss) before tax Segment operating assets – Australia Dec 2024 June 2024 $ $ - - Segment operating assets – Ghana 2,201 1,963 Segment operating assets – Total 2,201 1,963 Reconciliation of segment operating assets to total assets: Other corporate and administration assets 1,254,554 1,104,381 Total assets 1,256,755 1,106,344 345,056 209,734 Segment operating liabilities – Australia Segment operating liabilities – Ghana 246,339 45,862 Segment operating liabilities – Total 591,395 255,596 Reconciliation of Ghana segment operating liabilities to total liabilities: Other corporate and administration liabilities Total liabilities 71,705 340,024 663,100 595,620 Page 13 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) NOTE 3. EXPLORATION EXPENSES The current reporting period ended 31 December 2024 has seen a substantial reduction in exploration expenditure of $837,935 when compared to the equivalent period to 31 December 2023 of $1,400,406. This is attributed to the staging and differing requirements of the projects. Exploration expenditure in the comparative period was incurred on the Kambale Graphite Project in Ghana which was more advanced in its development stage, required additional specialised metallurgical testing and was advanced to achieve a JORC Minerals Exploration Resource. The recently explored Kpali and Kandia Gold Projects in Ghana are still relatively early stage in their development. NOTE 4. CASH AND CASH EQUIVALENTS 31 December 2024 Cash and Cash Equivalents 30 June 2024 $1,190,870 $1,023,219 $1,190,870 $1,023,219 During the reporting period to 31 December 2024 the Company raised $1,320,000 (net of costs) from the issue of ordinary shares to investors. This increase in cash from the capital raising was offset by net cash outflows from operating activities of $1,136,871, as disclosed on the Consolidated Statement of Cash Flows. NOTE 5. CONTRIBUTED EQUITY Ordinary share capital Ordinary shares – fully paid Dec 2024 Shares $ Shares $ 1,896,814,107 42,275,041 1,224,492,984 40,270,595 Transaction costs - (2,462,099) - (2,190,559) 1,896,814,107 39,812,942 1,224,492,984 38,080,036 Movements in ordinary share capital As at 1 July Issued during the half-year Dec 2023 Dec 2024 Dec 2023 Shares $ Shares $ 1,327,826,317 38,519,821 1,124,492,984 37,316,926 - - 100,000,000 1,000,000 Placement at $0.0045 per share (1) 25,555,555 115,000 - - Shares issued at $0.0015 per share (2) 2,000,000 30,000 - - Shares issued at $0.0045 per share (3) 17,432,235 78,445 - - Placement (stage1) at $0.0025 per share 300,000,000 750,000 - - Placement (stage 2) at $0.0025 per share 212,000,000 530,000 - - Shares issued at $0.0030 per share (4) 12,000,000 36,000 - - Subtotal Transaction costs As at 31 December 1,539,445 1,000,000 - (246,324) - (236,890) 1,896,814,107 39,812,942 1,224,492,984 38,080,036 1 Issue of placement ordinary shares to directors for cash consideration as per the approval at the General Meeting on 30 August 2024. 2. Issue of ordinary shares to Rosane Pty Ltd as a final consideration for the acquisition of 80% interest in the exploration licence (Beasley Creek acquisition) upon achievement of the 2nd Milestone. The initial acquisition took place in November 2017. 3. Issue of ordinary shares to Geodrill Limited (“GEO”) as part of the services for equity arrangement with GEO and its subsidiary, GTS Drilling Ltd, for completion of Kpali drilling programme. Each issued share had an attached unlisted option. 4. Issue of ordinary shares to Peak Asset Management upon conclusion of services and as per the approval at the General Meeting on 20 December 2024. Page 14 CASTLE MINERALS LIMITED INTERIM FINANCIAL REPORT (31 DECEMBER 2024) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) Movement in options on issue Number of options Dec 2024 As at 1 July Dec 2023 280,749,579 241,466,277 Issued, listed, exercisable at $0.018 on or before 7 January 2025 - 52,456,246 Issued, unlisted, exercisable at $0.018 on or before 31 October 2027 - 28,000,000 Issued, unlisted, exercisable at $0.0075 on or before 20 Jul 2026 131,876,674 - Issue, unlisted, exercisable at $0.0050 on or before 22 Dec 2026 381,000,000 - Expired, listed, exercisable at $0.022 on or before 31 December 2023 - (52,172,944) Expired, listed, exercisable at $0.055 on or before 31 December 2024 (153,293,333) - As at 31 December 640,332,920 269,749,579 The issued unlisted options vested on the date of issue. NOTE 6. SHARE-BASED PAYMENTS During the half-year 165,000,000 unlisted options were granted to corporate advisors as part of consideration for capital raising services: 40,000,000 exercisable at 0.75 cents and expiring on 20 Jul 2026 and 125,000,000 exercisable at 0.5 cents and expiring on 22 Dec 2026. In addition, unlisted options with an exercise price of 0.75 cents and expiring on 20 July 2026 were granted to a director and contractor, 10,000,000 and 17,432,235 options respectively. The weighted average fair value of the unlisted options granted during the half-year was 0.48 cents. The price was calculated by using the Black-Scholes European Option Pricing Model applying the following inputs: Grant Date 3 Jul 2024 12 Sep 2024 29 Nov 2024 20 Dec 2024 40,000,000 17,