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The Kandia Gold Project is located within Ghana’s highly prospective Upper West Region and forms part of Castle Minerals’ broader Carlie Mining Limited gold portfolio. The project lies along a major granite-sediment contact within the Wa-Lawra/Boromo Birimian greenstone belt system, a region associated with several significant West African gold deposits and operating mines.

Kandia was discovered in 2010 during reconnaissance mapping when Castle identified extensive previously unrecorded artisanal gold workings developed over approximately 600m of strike. Follow-up mapping and sampling represented the first known systematic gold exploration in the area and identified nine gold anomalies across a 12km mineralised trend.

Gold mineralisation at Kandia is hosted within silicified and weakly pyritic Birimian sediments and schists, forming a generally west-dipping mineralised corridor adjacent to granite intrusions. Aeromagnetic interpretation indicates a broad magnetic low associated with magnetite destruction and widespread hydrothermal alteration related to the mineralising event.

Since discovery, Castle has completed extensive exploration including soil sampling, airborne geophysics and 264 RC drill holes for approximately 19,541m. Drilling has consistently confirmed broad zones of shallow gold mineralisation with strong continuity and increasing grade at depth.

Recent RC drilling at the “4,000-Zone” returned significant shallow intercepts including:

7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m (24KARC002) 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m (24KARC004) These results confirmed continuity and down-dip extension of mineralisation, with both grade and mineralised width appearing to strengthen with depth.

Castle believes the broader opportunity at Kandia is the potential delineation of multiple near-surface open-pittable gold deposits along more than 16km of prospective contact geology. Current exploration is focused on extensional drilling at the “4,000-Zone”, advancing historical targets including the “8,000-Zone”, and generating new drill-ready targets through extensive auger drilling campaigns commenced during 2025.

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Kandia Prospect location within Wa East Region

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Kandia section 1104480N showing 24KARC002 (Infill) and 24KARC004 (extension) holes. Grade, width of high-grade and dip appear to be increasing with depth.

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Castle senior geologist, George Asamoah, inspecting artisanal workings at Kandia 4000-zone

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Ghana’s Upper West Region and Castle’s key prospects. Also shown is the convergence on Castle’s Degbiwu and Gbiniyiri licences of the Wa-Lawra and Bole-Bolgatanga Birimian greenstone belts plus three regional-scale structures associated with several major gold deposits.

The Kpali Gold Project comprises the Kpali, Bundi and Kpali East prospects located approximately 30km west of Sawla in Ghana’s Upper West Region. The project sits within the 170km² Degbiwu Prospecting Licence and the surrounding 1,033km² Gbiniyiri Retention Licence, both held 100% by Castle through its wholly owned Ghanaian subsidiary, Carlie Mining Limited.

The project lies at the convergence of the Wa-Lawra/Boromo and Bole-Bolgatanga Birimian greenstone belts together with several major regional structures associated with multi-million-ounce gold deposits and operating mines across Ghana and Burkina Faso. Castle considers this geological setting highly favourable for the development of a major West African gold camp.

Kpali was discovered in 2013 through systematic RAB drilling and auger geochemistry beneath transported soil cover. Mineralisation occurs within steeply dipping north-south lodes hosted in Birimian sediments and volcaniclastics adjacent to a felsic intrusive body.

Recent RC drilling has consistently extended mineralisation along strike and at depth, delivering strong high-grade intercepts including:

12m at 8.29g/t Au from 25m including 6m at 11.60g/t Au (24KPRC010) 19m at 2.93g/t Au from 77m including 4m at 5.43g/t Au (25KPRC024) 12m at 3.52g/t Au from 138m including 4m at 7.17g/t Au (25KPRC026) 9m at 3.47g/t Au from 5m including 3m at 8.21g/t Au (25KPRC035) At the nearby Bundi Prospect, infill drilling during 2025 confirmed thickening mineralised zones at depth, with all recent holes intersecting gold mineralisation above 1g/t Au.

Castle continues to advance the Kpali Gold Project through follow-up RC drilling, auger programs and reinterpretation of high-resolution aeromagnetic datasets to define additional high-conviction drill targets across the broader project area.

Kpali Gold Prospect: Notable intercepts from June 2025 RC drilling programme with selected historical drilling results.

Cross-section (1029330mN) showing latest drill holes and multi-lode distribution of high-grade mineralisation.

Key prospects on VTEM with structural interpretation highlighting controls of known mineralisation and numerous areas to be tested.

North-south long-section through mineralised hangingwall and footwall lodes.

Bundi prospect: Plan of recent and historical drill results.

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