Indiana Resources Ltd (ASX:IDA) Drilling Intersects Further High-Grade Gold at Minos

16 October 2025

Price Sensitive Announcement $

Overview:

Indiana Resources Limited announces more strong gold results from RC drilling and calcrete sampling at its flagship Minos Gold Project (Minos Gold Project) within the Company’s 100% owned ~5,700 km2 Gawler Cration Project in South Australia.

Highlights:

RC Assay Results – Minos Prospect, within the Minos Gold Project

• Assay results from the remaining two RC holes at the Minos Prospect have returned further highgrade gold mineralisation, including:
• 8m @ 1.2 g/t gold from 83m and 4m @ 13.0 g/t gold from 130m (25LLRC005)
• RC drilling at Minos has successfully intersected gold mineralisation in a number of extensional
  holes to the south-east and north-west, with recent results previously reported including:
• 21m @ 2.31 g/t gold from 115m, including 8m @ 4.67 g/t gold from 128m (25LLRC006)
• 12m @ 2.15 g/t gold from 118m, including 6m @ 3.78 g/t gold from 121m (25LLRC004)
• 4m @ 5.24 g/t gold from 152m (25LLRC019)
• 6m @ 2.33 g/t gold from 168m (25LLRC020)
• Further assays pending from diamond drilling, which targeted potential high-grade plunge orientations at depth within the mineralised system.

  Calcrete Results – Ariadne & Company Well Prospects, within the Minos Gold Project

• Infill calcrete sampling confirms strong gold anomalism, returning multiple 1,000ppb gold (1 g/t) results, including a peak 3,000ppb (3 g/t).
• These exceptional results provide strong support for the next phase of planned ~7,000m air-core (AC) drilling about to commence.
• The drilling programs are part of Indiana’s growth strategy under which it aims to establish substantial scale across its Minos Gold Project in South Australia’s Gawler Craton.
• Minos Gold Project is hosted within the fertile Lake Labyrinth Shear Zone which extends over 50kms of strike within Indiana’s tenure, which covers ~ 5,700km2 in the Central Gawler Craton, SA.
• Indiana remains well-funded with $37m in cash1 to advance current and planned exploration campaigns

Minos Diamond Drilling – Assays Pending

Assays pending for seven diamond tails targeting potential high-grade plunge orientations at depth within the Minos mineralised system (Refer to Figure 1 for drill hole locations).

The 1,150m of HQ diamond drilling was completed in mid-August and sent for core cutting which was completed on 8th September. Once received the pending assays will be incorporated into the geological model to refine follow up drilling and targeting along the Minos – Ariadne Trend.

Follow-up Calcrete Sampling at Ariadne and Company Well returns multiple +1,000ppb values

Assay results from the recently completed infill calcrete sampling program over the Ariadne and Company Well prospect areas have been received (Figure 3), with results confirming, and in some areas strengthening, the significant gold anomalism reported 7 July this year. Key outcomes include:

• Confirmation of numerous gold anomalies within the Ariadne and Company Well area;
• Three samples returning values greater than 1,000 ppb gold (1 g/t gold), with a peak assay exceeding 3,000 ppb gold (3 g/t gold); and
• Improved definition of gold anomalism to assist in targeting the planned AC drilling

Rare Earth Element (REE) Results – Minos Prospect

A total of 42 samples from recent reverse circulation (RC) drilling at the Minos Gold Prospect were submitted for rare earth element (REE) analysis. The samples, comprising both composite and singlemetre intervals and representing 117 m of drilling, were collected from the north-western part of the program. Two samples from the same interval returned values exceeding 0.1 % Total Rare Earth Oxides (TREO), 16 m @ 0.106 % TREO from 24 m (25LLRC023), including 4 m @ 0.10 % TREO from 24 m and 4 m @ 0.1389 % TREO from 36 m.

These results indicate localised REE enrichment within the Minos system, with significantly higher results observed further to the north-west along the Lake Labyrinth Shear (refer to ASX releases 8th and 19th September 2022).

Company Notes:

Indiana Managing Director Matthew Bowles said:
“These latest results continue to extend the known mineralisation at the Minos Gold Project, with assays such as 4m @ 13.0g/t gold. Assay results from the diamond drilling, targeting high-grade mineralisation at depth, are pending and we look forward to updating shareholders on these results shortly.”

“Our infill calcrete sampling at Ariadne and Company Well has further defined numerous gold targets, and returned some highly anomalous values, including an exceptional result of 3 g/t gold. We are excited to be about to commence a major air-core drilling program to test these targets and anticipate this will drive growth targets for follow up RC drilling.

Full ASX Announcement: https://hotcopper.com.au/threads/ann-drilling-intersects-further-high-grade-gold-at-minos.8828674/