Flynn Gold Limited (ASX: FG1) — First Drill Hole Extends High-Grade Gold-Tungsten Mineralisation at Firetower Project, Tasmania

16 July 2026

Price Sensitive Announcement $

Highlights:

• First assay results from the 2026 Firetower diamond drilling program extend high-grade gold-tungsten-copper mineralisation at least 80m below previous drilling, confirming continuity of the polymetallic system to more than 200m vertical depth from surface
• Extensional drill hole 2019FTD014E returned:
  • 9.64m @ 2.49g/t Au, 0.29% WO3, 0.52% Cu, 0.04% Co and 9.9g/t Ag from 200.13m, including:
    • 3.77m @ 4.30g/t Au, 0.30% WO3, 0.37% Cu, 0.13% Co and 11.24g/t Ag from 200.13m
    • 1.47m @ 4.62g/t Au, 1.10% WO3, 2.20% Cu, 0.07% Co and 29.42g/t Ag from 208.3m
• Gold-tungsten mineralisation now confirmed beyond 200m vertical depth, remaining open at depth and along strike across approximately 250m of defined strike length
• High-grade copper of 1.47m @ 2.20% Cu recorded within the gold-tungsten zone, highlighting an increasingly compelling polymetallic dimension to the project
• Two additional diamond drill holes targeting down-dip and along-strike extensions have been completed, with assay results pending
• Approximately 520m of the planned 1,600m drilling program now complete, with the current campaign combining resource growth and infill drilling with metallurgical sampling to support a maiden Mineral Resource Estimate

Overview:

Flynn Gold has delivered strong opening results from its 2026 diamond drilling program at the Firetower Project in northern Tasmania, with the first hole successfully extending high-grade gold-tungsten-copper mineralisation approximately 83m down-dip of the previous deepest intersection — exactly as the Company’s revised geological model predicted.

Hole 2019FTD014E was designed as a cost-effective extension to historical hole 2019FTD014, which Flynn interpreted to have been terminated by the previous operator before reaching the main polymetallic mineralised zone. Re-entering and extending the original hole from 163m to a new end-of-hole of 278.15m, Flynn intersected a broad polymetallic mineralised interval from 200.13m, returning 9.64m @ 2.49g/t Au, 0.29% WO3 and 0.52% Cu — including two discrete high-grade sub-intervals. A particularly compelling 0.3m sample within the mineralised zone assayed 16.65g/t Au, 4.28% WO3 and 8.74% Cu, reflecting the exceptional grade potential of the discrete high-grade shoots that characterise the Firetower system.

The results demonstrate a consistent mineralisation style seen across multiple Firetower drill holes — broad polymetallic envelopes hosting discrete zones of exceptionally high-grade gold-tungsten mineralisation, with co-product copper, cobalt and silver values providing a genuine polymetallic growth story. Copper grades returned in this hole are the strongest yet recorded at Firetower, potentially adding a new dimension to the project’s economics as Flynn advances toward resource definition.

The Firetower prospect is located within the Mt Read Volcanics in northern Tasmania — one of Australia’s premier volcanic-hosted mineral provinces — and has now demonstrated mineralisation continuity over approximately 250m of strike and to more than 200m vertical depth, with the system remaining open in all directions. Two additional diamond holes targeting further down-dip and along-strike extensions have been completed, with assay results expected in the coming weeks.

With metallurgical testwork, geological modelling and a maiden Mineral Resource Estimate all in the pipeline for 2026, the Firetower program is building meaningful momentum.

Company Notes:

Flynn Gold Managing Director and CEO, Neil Marston, commented: “These impressive first assay results represent another significant step in defining the scale of the Firetower mineral system, significantly strengthening our confidence that high-grade gold and tungsten continues at depth below previous drilling. This drill-hole intersected high-grade mineralisation about 80 metres below an earlier drill intersection, as predicted. Importantly, the hole returned not only strong gold and tungsten grades, but also increasing copper values, potentially adding a new dimension to the project and highlighting an increasingly compelling polymetallic opportunity. Two adjacent drill holes have been completed to date with further assay results expected in the coming weeks. With approximately 520m of the planned 1,600m drilling program now completed, the current campaign will continue to test the expansion potential of the Firetower mineral system while also providing material for metallurgical test work to support our Mineral Resource evaluation.”

About Flynn Gold Limited (ASX: FG1):

Flynn Gold is an ASX-listed gold and polymetallic exploration company advancing two 100% owned projects in Tasmania — the Silver King Silver-Lead-Zinc Project near Zeehan and the Firetower Gold-Tungsten Project in northern Tasmania. The Firetower Project is an advanced-stage polymetallic system located within the Mt Read Volcanics, one of Australia’s premier volcanic-hosted mineral provinces, with mineralisation now confirmed over approximately 250m of strike and more than 200m vertical depth, remaining open in all directions. Flynn is progressing toward a maiden Mineral Resource Estimate at Firetower through a combination of extensional drilling, infill drilling and metallurgical testwork.

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