Bindi Metals Ltd (ASX:BIM) Maiden Drilling Commences at Ravni Gold Project

12 May 2026

Price Sensitive Announcement $

Highlights:

• Diamond drilling has commenced at Ravni with drilling underway at Drenjak
• 2,000m of drilling planned to test mineralisation at Rujak and Drenjak and additional regional targets:
  o Drenjak channel: 6m @ 15.3 g/t Au including 2m @ 45.6 g/t Au
  o Rujak channel: 16m @ 1.4 g/t Au, 6.7 g/t Ag including 2m @ 7.7 g/t Au, 35.8
  g/t Ag
• Mineralisation defined from Drenjak to Rujak along 2 km corridor with associated IP and soil anomalies indicative of a large-scale system
• Drilling expected to be completed by the end of June

Overview:

Drilling Program

The maiden diamond drill program will test multiple high-priority targets at Drenjak and Rujak and several other scout drilling targets (Figure 2) focusing on (refer to ASX Announcements 15 April 2026 and 1 May 2026):

• High-grade surface mineralisation at Drenjak with channel sampling results of 6m @ 15.3 g/t Au including 2m @ 45.6 g/t Au and 87.2 g/t Au, 48.7 g/t Au and 46.3 g/t Au in rock chips which is coincident with IP chargeability-resistivity anomalies and regional soil anomalies; and
• Broad mineralised zones at Rujak with channel sampling results of 16m @ 1.4 g/t Au, 6.7 g/t Ag including 2m @ 7.7 g/t Au, 35.8 g/t Ag which is coincident with IP
  chargeability-resistivity anomalies and regional soil anomalies.

Reflex Drilling will utilise the Sumpless Closed Loop Drill Mud system, the only company in Serbia to offer this system, that maintains the highest environment standards for diamond drilling.

Drilling will target high grade veins at Drenjak initially and then move to Drenjak West before focussing drilling at Rujak. Drilling is expected to be completed by the end of June with assays 6 to 8 weeks thereafter.

The exploration results reported in this announcement are consistent with previously reported results announced on 9 October 2025, 27 January 2026, 15 April 2026 and 1 May 2026. The Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements.

Next Steps

• Completion of drill program end of June; and
• Assays of drill core expected 6 to 8 weeks after drilling complete; and
• Commencement of regional mapping program for summer field season and definition of regional drill targets for Phase Two of drilling

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