Accelerate Resources Limited (ASX: AX8) — Strong Shallow Gold Hits from First Drilling at Fluffy Prospect, Balagundi Gold Project

17 July 2026

Price Sensitive Announcement $

Highlights:

• First drilling at the Fluffy prospect in more than 30 years has delivered significant shallow gold intersections at Accelerate’s Balagundi Gold Project near Kalgoorlie, Western Australia
• Maiden aircore drilling highlights include:
  • 10m @ 1.05g/t Au from 24m (26BGAC086)
  • 3m @ 1.96g/t Au from 49m (26BGAC061)
  • 1m @ 8.44g/t Au from 37m (26BGAC078)
  • 4m @ 1.13g/t Au from surface (26BGAC082)
• New results occur within the same broad geological corridor as significant historical intercepts including 45m @ 1.35g/t Au from 24m (BHR042), 10m @ 1.16g/t Au from 10m (BDD2) and 6m @ 1.85g/t Au from 30m (BHRC003)
• Coincident geochemical, geological and geophysical vectors — including widespread arsenic anomalism, alteration, minor sulphides and quartz veining — build confidence in a coherent, significant hydrothermal gold system at Fluffy
• The stronger gold intersections align closely with cross-cutting structures interpreted from the Company’s Gradient Array Induced Polarisation (GAIP) geophysical survey along the eastern margin of the Catrock-textured porphyritic dolerite
• Planning for follow-up RC and/or diamond drilling is now underway at Fluffy, alongside geological mapping and geochemical sampling across the Company’s newly expanded Balagundi landholding

Overview:

Accelerate Resources has delivered a highly encouraging set of maiden aircore results from the Fluffy Prospect at its Balagundi Gold Project, located approximately 15km east of Kalgoorlie in the Norseman-Wiluna greenstone belt — one of Western Australia’s most endowed gold districts.

The 35-hole, 1,473m program, drilled on 100–150m spaced traverses targeting the eastern margin of the Catrock-textured porphyritic dolerite and cross-cutting structures identified from a recent GAIP survey, marks the first systematic modern drilling at Fluffy in over three decades. The results have confirmed multiple significant shallow gold intersections within the same geological corridor that hosts a series of strong historical intercepts, reinforcing the case for a coherent, corridor-scale gold system.

Multiple geological vectors support the interpretation of a meaningful hydrothermal gold system at Fluffy. Widespread arsenic anomalism was again intersected across the prospect — in a mafic-dominated setting where sedimentary rocks are absent, the Company interprets this extensive arsenic signature as hydrothermal alteration associated with a gold mineralising event rather than background lithological variation. Geological logging adds further support, with alteration, minor sulphides and quartz veining recorded in several holes, pointing to a primary gold source remaining largely untested in fresh rock at depth.

The stronger new gold intersections are spatially associated with cross-cutting structures interpreted from the GAIP survey, with gold and arsenic anomalies aligning closely with the interpreted eastern margin of the Catrock dolerite — a key structural and lithological focus for future drill targeting. Detailed analysis of mineralised and altered samples from the current program will now be integrated with historical data, multi-element geochemistry and GAIP interpretation to refine the structural model and define high-priority targets for RC and/or diamond drill testing.

In parallel, Accelerate will advance geological mapping and systematic geochemical sampling across the new tenure acquired through its recent transaction with Maritana Minerals — which will expand the Balagundi landholding by approximately 80% to around 62km² on completion — prioritising additional gold targets across what the Company is building into a multi-trend gold project.

Company Notes:

Accelerate Resources CEO, Luke Meter, commented: “We are highly encouraged by the Fluffy results, which returned significant shallow gold mineralisation with grades of up to 8.44g/t Au. The results align closely with historical drilling and reinforce a broad, coherent gold-arsenic corridor along the eastern margin of the Catrock dolerite. Alteration, sulphides and quartz veining identified in drilling further support the presence of a significant hydrothermal gold system at Fluffy. Ongoing analytical work and integrated geological interpretation will now help refine targets for deeper RC or diamond drilling, while mapping and geochemical sampling across the new MRT tenure will test the broader potential of our expanded Balagundi landholding.”

About Accelerate Resources Limited (ASX: AX8):

Accelerate Resources is an ASX-listed gold explorer advancing its Balagundi Gold Project, located approximately 15km east of Kalgoorlie in Western Australia’s highly endowed Norseman-Wiluna greenstone belt. The project hosts a prospective package of basalts, dolerites, sediments and felsic intrusives with gold mineralisation associated with key structural corridors across multiple trend areas including Spencers, Paris Gift, Delta, Iron Bound and Fluffy. A recent transaction with Maritana Minerals will expand the Balagundi landholding by approximately 80% to around 62km² on completion, providing a materially larger platform for systematic exploration across the broader Balagundi gold camp.

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