Announcement PDF ASX Announcement 20 JANUARY 2025 POLELLE AND WANGANUI PROJECTS PURCHASE AND JOINT VENTURE OPTION AGREEMENT REVISED HIGHLIGHTS ➢ GBR has renegotiated the Heads of Agreement with Castle Minerals Ltd to acquire a 75% interest in and jointly explore the Polelle and Wanganui Projects near Meekatharra ➢ This allows an additional 12 months to test both areas prior to making a decision to acquire a Joint Venture interest ➢ Castle has waived the $100,000 Option Extension Fee and GBR has committed to a minimum cumulative exploration expenditure of $600,000 on the two projects during the full two-year term of the option Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update on the Polelle and Wanganui Projects near Meekatharra in Western Australia. Both projects are located close to the Company’s Side Well Gold Project (“Side Well”) which hosts a Mineral Resource Estimate (“MRE”) of 668,000oz @ 2.8 g/t Au. On 30 November 2023 GBR announced the signing a Heads of Agreement with Castle Minerals Ltd (“Castle”) over the Polelle and Wanganui areas, giving the Company 12 months within which to conduct initial exploration and decide whether to acquire a joint venture interest. The initial agreement allowed for a 12-month extension to the option period if required. Exploration during 2024 was hampered by delays in completing heritage surveys to clear priority targets for initial drill testing. Castle has therefore agreed to GBR’s request to extend the option period for an additional 12 months to 30 November 2025 and to waive the second option fee of $100,000. GBR has committed to a minimum cumulative exploration expenditure of $600,000 on the two projects during the full two-year term of the option. All other material terms, including the Option Exercise Fee of $100,000 payable in GBR shares, remain the same. Next Steps Initial exploration by GBR including regional mapping and assessment of previous auger sampling generated several priority targets at Polelle. Limited AC drilling was undertaken during 2024, however access was restricted due to a lack of previous heritage clearances. The Company has now requested heritage surveys which will allow these areas to be drill tested shortly. ASX Code: GBR P: +61 8 9321 6037 Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 E: admin@greatboulder.com.au ABN 70 611 695 955 GREATBOULDER.COM.AU ASX Announcement 2 20 JANUARY 2025 Further detail on the likely timing of surveys and drilling programs will be provided as soon as it is available. The Company is not aware of any material changes in the status of the historical information reported in this release. This announcement has been approved by the Great Boulder Board. For further information contact: Andrew Paterson Managing Director Great Boulder Resources Limited admin@greatboulder.com.au www.greatboulder.com.au Media Lucas Robinson Corporate Storytime +61 408 228 889 lucas@corporatestorytime.com Follow GBR on LinkedIn Follow GBR on Twitter COMPETENT PERSON’S STATEMENT Exploration information in this Announcement is based upon work undertaken by Mr Andrew Paterson who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Paterson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Paterson is an employee of Great Boulder Resources and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. The information that relates to Mineral Resources was first reported by the Company in its announcement to the ASX on 16 November 2023. The Company is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not material changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. ASX Code: GBR P: +61 8 9321 6037 Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 E: admin@greatboulder.com.au ABN 70 611 695 955 GREATBOULDER.COM.AU ASX Announcement 3 20 JANUARY 2025 FIGURE 1: GBR’S MEEKATHARRA PROJECTS TABLE 1: SIDE WELL MINERAL RESOURCE SUMMARY, NOVEMBER 2023 Deposit Indicated Inferred Total Cut-off Tonnes Au Ounces Tonnes Au Ounces Tonnes Au Ounces (kt) (g/t) (kt) (g/t) (kt) (g/t) Type Mulga Bill Open Pit 0.5 1,667 3.1 169,000 2,982 1.9 183,000 4,649 2.4 352,000 U/ground 1.0 733 3.5 83,000 1,130 3.6 132,000 1,863 3.6 216,000 2,399 3.3 252,000 4,112 2.4 316,000 6,511 2.7 568,000 186 1.9 11,000 938 3.3 100,000 0 0.0 0 0 0.0 0 1.9 11,000 938 3.3 100,000 4,298 2.4 327,000 7,450 2.8 668,000 Subtotal Ironbark Open Pit 0.5 753 3.7 88,000 U/ground 1.0 0 0.0 0 Subtotal 753 3.7 88,000 Total 3,152 3.4 340,000 186 Subtotals are rounded for reporting purposes. Rounding errors may occur. ASX Code: GBR P: +61 8 9321 6037 Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 E: admin@greatboulder.com.au ABN 70 611 695 955 GREATBOULDER.COM.AU ASX Announcement 4 20 JANUARY 2025 ABOUT GREAT BOULDER RESOURCES Great Boulder is a mineral exploration company with a portfolio of highly prospective gold and base metals assets in Western Australia ranging from greenfields through to advanced exploration. The Company’s core focus is the Side Well Gold Project at Meekatharra in the Murchison gold field, where exploration has defined a Mineral Resource of 7.45Mt @ 2.8g/t Au for 668,000oz Au (340koz @ 3.4g/t Au Indicated, 327koz @ 2.4g/t Au Inferred). The Company is also progressing earlystage exploration at Wellington Base Metal Project located in an emerging MVT province. With a portfolio of highly prospective assets plus the backing of a strong technical team, the Company is well positioned for future success. CAPITAL STRUCTURE 759M ~$7.5M $1.0M SHARES ON ISSUE CASH LISTED INVESTMENT DAILY LIQUIDITY ASX:GBR As at 31/12/24 Cosmo Metals (ASX:CMO) Average 30-day value traded $35.7M Nil 64.5M ~37% MARKET CAP DEBT UNLISTED OPTIONS TOP 20 OWNERSHIP At $0.047/sh As at 31/12/2024 Exploring WA Gold & Developing a Base Metal assets, significant high grade, located in proximity to large scale gold operating mines & system at Side Well infrastructure ASX Code: GBR P: +61 8 9321 6037 Technically focused exploration team with a strong track record of discovery Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 $43k Undertaking smart, innovative & systematic exploration E: admin@greatboulder.com.au ABN 70 611 695 955 Ongoing drilling at multiple projects providing consistent, material newsflow GREATBOULDER.COM.AU ASX Announcement 5 20 JANUARY 2025 Appendix 1 - JORC Code, 2012 Edition Table 1 (GBR Drilling, Side Well Project) Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria Commentary Sampling techniques At the Side Well Project GBR has collected data from auger sampling and from AC, RC and Diamond drilling techniques. This section encompasses all four methods. RC samples were collected into calico bags over 1m intervals using a cyclone splitter. The residual bulk samples are placed in lines of piles on the ground. 2 cone splits are taken off the rig splitter for RC drilling. Visually prospective zones were sampled over 1m intervals and sent for analysis while the rest of the hole was composited over 4m intervals by taking a scoop sample from each 1m bag. Core samples are selected visually based on observations of alteration and mineralisation and sampled to contacts or metre intervals as appropriate. Once samples are marked the core is cut in half longitudinally with one half taken for assay and the other half returned to the core tray. AC samples were placed in piles on the ground with 4m composite samples taken using a scoop. Auger samples are recovered from the auger at blade refusal depth. Auger drilling is an open-hole technique. Drilling techniques Industry standard drilling methods and equipment were utilised. Auger drilling was completed using a petrol-powered hand-held auger. Drill sample recovery Sample recovery data is noted in geological comments as part of the logging process. Sample condition has been logged for every geological interval as part of the logging process. Water was encountered during drilling resulting in minor wet and moist samples with the majority being dry. No quantitative twinned drilling analysis has been undertaken. Logging Geological logging of drilling followed established company procedures. Qualitative logging of samples includes lithology, mineralogy, alteration, veining and weathering. Abundant geological comments supplement logged intervals. Sub-sampling techniques and sample preparation 1m cyclone splits and 4m speared composite samples were taken in the field. Samples were prepared and analysed at ALS Laboratories Perth for the RC drilling and Intertek Laboratories for the AC drilling. Samples were pulverized so that each samples had a nominal 85% passing 75 microns. Au analysis was undertaken using Au-AA26 involving a 50g lead collection fire assay and Atomic Adsorption Spectrometry (AAS) finish. For AC drilling, Au analysis was undertaken at Intertek using a 50g lead collection fire assay with ICP-OES finish (FA50/OE). Multi-element analysis was completed at both ALS and Intertek Laboratories. Digestion was completed using both 4 Acid and Aqua-regia and analysed by ICP-AES and ICP-MS (Intertek code 4A/MS48, ALS codes ME-MS61, ME-ICP41-ABC). Quality of assay data and laboratory tests All samples were assayed by industry standard techniques. Fire assay for gold; four-acid digest and aqua regia for multi-element analysis. Verification of sampling and assaying The standard GBR protocol was followed for insertion of standards and blanks with a blank and standard inserted per 25 for RC drilling and 40 samples for AC drilling. Field Duplicates as second cone splits are inserted within known ore zones to assess repeatability. Analysis of ME was typically done on master pulps after standard gold analysis with a company multi-element standard inserted every 50 samples. No QAQC problems were identified in the results. No twinned drilling has been undertaken. Location of data points Sample locations and mapping observations were located and recorded electronically using a handheld GPS. Coordinates were recorded in GDA94 grid in Zone 50, which is the GDA94 zone for the Meekatharra area. Drill holes were positioned using the same technique. Hole collars were initially picked up after drilling using a handheld GPS. RC and Diamond hole collars were subsequently surveyed with a DGPS for greater accuracy. This accuracy is sufficient for the intended purpose of the data. ASX Code: GBR P: +61 8 9321 6037 Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 E: admin@greatboulder.com.au ABN 70 611 695 955 GREATBOULDER.COM.AU ASX Announcement 6 20 JANUARY 2025 Data spacing and distribution The spacing and location of the majority of drilling in the projects is, by the nature of early exploration, variable. The spacing and location of data is currently only being considered for exploration purposes. Orientation of data in relation to geological structure Drilling is dominantly perpendicular to regional geological trends where interpreted and practical. Wherever possible, cross sections are shown to give a visual indication of the relationship between intersection width and lode thickness. The spacing and location of the data is currently only being considered for exploration purposes. Sample security GBR personnel are responsible for delivery of samples from the drill site to the Toll Ipec dispatch center in Meekatharra. Samples are transported by Toll Ipec from Meekatharra to the laboratories in Perth. Audits or reviews Data review and interpretation by independent consultants on a regular basis. Group technical meetings are usually held monthly with input from independent expert consultants in the fields of geochemistry, petrology, structural geology and geophysics. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria Commentary Mineral tenement and land tenure status Side Well tenement E51/1905 is a 48-block exploration license covering an area of 131.8km2 immediately east and northeast of Meekatharra in the Murchison province. The tenement is a 75:25 joint venture between Great Boulder and Zebina Minerals Pty Ltd. Aircore drilling was completed on P51/3178 and P51/2978 located directly south of E51/1905. These tenements are held in a 80:20 joint venture between Great Boulder and Wanbanna Pty Ltd. Exploration done by other parties Tenement E51/1905, P51/3178 and P51/2978 have protracted exploration histories but are relatively unexplored compared to other regions surrounding Meekatharra. Geology The Side Well tenement group covers a portion of the Meekatharra-Wydgee Greenstone Belt north of Meekatharra, WA. The north-northeasterly-trending Archaean Meekatharra-Wydgee Greenstone Belt, comprises a succession of metamorphosed mafic to ultramafic and felsic and sedimentary rocks belonging to the Luke Creek and Mount Farmer Groups. Over the northern extensions of the belt, sediments belonging to the Proterozoic Yerrida Basin unconformably overlie Archaean granite-greenstone terrain. Structurally, the belt takes the form of a syncline known as the Polelle syncline. Younger Archaean granitoids have intrusive contacts with the greenstone succession and have intersected several zones particularly in the Side Well area. Within the Side Well tenement group, a largely concealed portion of the north-north-easterly trending Greenstone Belt is defined, on the basis of drilling and airborne magnetic data, to underlie the area. The greenstone succession is interpreted to be tightly folded into a south plunging syncline and is cut by easterly trending Proterozoic dolerite dykes. There is little to no rock exposure at the Side Well prospect. This area is covered by alluvium and lacustrine clays, commonly up to 60 metres thick. Subcrop exposures of laterite, mafic and ultramafic rocks are present along the eastern side of the project, however exposure of outcrop is still relatively poor. Drill hole Information A list of the drill hole coordinates, orientations and intersections reported in this announcement are provided as an appended table in the relevant announcements for each drilling program. Data aggregation methods Results were reported using cut-off levels relevant to the sample type. For composited samples significant intercepts were reported for grades greater than 0.1g/t Au with a maximum dilution of 4m. For single metre splits, significant intercepts were reported for grades greater than 0.5g/t Au with a maximum dilution of 3m. A weighted average calculation may be used to allow for bottom of hole composites that were less than the standard 4m and when intervals contain composited samples plus 1m split samples. No metal equivalents are used. ASX Code: GBR P: +61 8 9321 6037 Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 E: admin@greatboulder.com.au ABN 70 611 695 955 GREATBOULDER.COM.AU ASX Announcement 7 20 JANUARY 2025 Relationship between mineralisation widths and intercept lengths The majority of drilling was conducted using appropriate perpendicular orientations for interpreted mineralisation. Stratigraphy appears to be steeply dipping to the west however mineralisation may have a different orientation. Cross sections are shown wherever possible to illustrate relationships between drilling and interpreted mineralisation. Diagrams Refer to figures in announcement. Balanced reporting It is not practical to report all historical exploration results from the Side Well project. Selected historical intercepts have previously been re-reported by GBR to highlight the prospectivity of the region, however the vast majority of work on the project has been completed by GBR and reported in ASX announcements since 14 July 2020. Other substantive exploration data Subsequent to Doray Minerals Limited exiting the project in 2015, private companies have held the ground with no significant work being undertaken. Wanbanna Pty Ltd has done limited work consisting mainly of AC drilling around the Burke’s Reward and Golden Bracelet prospect’s further south. Further work Further work is discussed in the document. ASX Code: GBR P: +61 8 9321 6037 Contact: Andrew Paterson, Managing Director Level 1, 51 Colin St West Perth WA 6005 E: admin@greatboulder.com.au ABN 70 611 695 955 GREATBOULDER.COM.AU