Exultant Mining Ltd (ASX:10X) High-Grade Rock Chips up to 50.9 G/T Gold Outline a Mineralised Vein System at Undoo Creek

25 March 2025

Price Sensitive Announcement $

Highlights:

• Exceptional high-grade gold rock chip results returned from the Undoo Creek prospect within EL8931, including:
  o 50.9 g/t Au (sample 8931-015)
  o 12.6 g/t Au (sample 8931-019, Fig. 1)
  o 8.4 g/t Au (sample 8931-026)
  o 6.4 g/t Au (sample 8931-028)
• Mapping and rock chip sampling have now defined a mineralised quartz vein system over a total strike length of 360m
• High-grade gold results (>5 g/t Au) returned from multiple locations along the mapped strike, supporting strike continuity of mineralisation
• Results significantly exceed initial reconnaissance results and materially upgrade the prospectivity of Undoo Creek
• Structural interpretation highlights vein intersections with potential for
  high-grade plunging shoots
• Work programs underway to rapidly advance Undoo Creek toward drillready targets

Overview:

Exultant Mining Limited (ASX: 10X) has reported assay results from a recent rock chip sampling program completed at the Undoo Creek prospect within EL8931 at the Peak View Project in New South Wales. The new results confirm the presence of exceptionally highgrade gold mineralisation associated with a mapped quartz vein system extending for at least 360m within the Devonian Glenbog Granodiorite.

Company Notes:

Comment from Executive Chairman, Brett Grosvenor:

“After our initial rock chip results in January 2026, we have moved quickly to complete systematic mapping and rock chip sampling at Undoo Creek, and it is very encouraging to see these programs already delivering strong results.

What is particularly pleasing is the consistency of high-grade gold mineralisation identified along the full 360 metres of mapped strike. This gives us confidence that we are dealing with a coherent mineralised system rather than isolated high-grade occurrences and represents a significant step forward in our understanding of the prospect.

Importantly, the identification of key structural intersections within the vein system highlights potential zones for the development of high-grade shoots, which will be a key focus as we progress the project.

With this work now defining both the scale and controls of mineralisation, we are well positioned to advance Undoo Creek toward drill targeting as we continue to apply modern, systematic exploration techniques across the project.”

Importantly, rock chip assays exceeding 5 g/t Au have been returned from multiple locations distributed along the 360m mapped extent of the vein system (Fig. 2), supporting the interpretation that the vein is mineralised along strike, although the selective nature and spacing of rock chip samples mean grade continuity has not yet been established. This represents a material increase in confidence in the scale and continuity of the gold-bearing system at Undoo Creek and further supports the prospect as a priority target for ongoing exploration. These results support previously reported initial rock chip results from Undoo Creek of 5.42 g/t Au and 2.61 g/t Au1, 2

Next Steps:

Exploration activities at Undoo Creek will focus on advancing the prospect through:

• Continued geological and structural mapping to better understand the controls on high-grade mineralisation
• Additional rock chip sampling to test for possible repetitions of the mineralised vein system and assess nearby parallel or related structures
• Planning of follow-up geophysical surveys to assess the depth extent of mineralisation and assist with future targeted drilling

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