Drilling progress at the Wagyu Gold Project, Pilbara WA

New Age exploration (ASX: NAE) (NAE or the Company) is pleased to report that the Reverse Circulation (RC) Drill Program is making positive progress at the Wagyu Gold Project (Figure 1). A total of 1,896 meters has been drilled to date, spread over 20 boreholes, with an average depth of 95 meters. The program focuses on extensions of the known ‘Hemi Style’ gold mineralization and new undrilled areas of high gold prospectivity (see ASX announcement November 6, 2025).

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Drilling to date has intersected similar lithologies and alteration styles to that of the mineralization drilled in the first RC program (March 2025), and testing at depth has revealed extensions at depth in the ‘Hemi Style’ intrusions. Gold mineralization at Wagyu is generally only confirmed by assay data, due to the intense alteration and fine-grained nature of the sulphides present.

Drilling continues until 22^i.e December and resumes in early January.

HIGHLIGHTS

• Drilling at the Wagyu Gold Project is progressing positively with 20 drill holes completed for a total of 1,896 m.
• The program has so far tested High Priority Objectives 1, 10 and 11. The drilling platform has been moved north and is currently located at Doel 6.
• Drilling to date has intersected similar lithologies and alteration styles to those of the mineralization drilled in the first RC program (March 2025), with several intersections at depth in intermediate ‘Hemi Style’ intrusions.
• Test results are expected in the first quarter of 2026.
• The Wagyu Gold Project is located 5 km west of Northern Star Resources’ 11.2 Moz¹ Hemi Gold Deposit in the mineralized Mallina Basin corridor

Nae Executive Director Joshua Wellisch commented:

“We are very pleased with the current progress of the Wagyu drill program as the team seeks to advance extensions of known gold mineralization at depth and along strike; uncover new gold mineralization and further understand the geological controls.”

Figure 1: Drill hole collars at the Wagyu Gold Project with pending testing of the current RC drill program and the maximum down hole gold test result shown in previous drilling.

Geology

Encouraging signs of mineralization were found in numerous drill holes during the drilling campaign, which NAE hopes will expand high-grade gold along the strike and at depth. Drill hole 25WR045 intercepted 13 meters of consistent quartz veins within an intrusive body (Figure 1), with associated sulfides (pyrite and pyrrhotite) and alteration (carbonate and chlorite), indicative of targeting success.

Figure 2: Chipboard photo of 140-160m in borehole 25WR045. Note the consistent quartz veins from 142-155 m with a significant vein at 151-155 m.

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