PVW Resources Ltd (ASX:PVW) Finalises Acquisition of Nevada Gold Project Hosing 173koz Historical Estimate

23 February 2026

Price Sensitive Announcement $

Highlights:

• Acquisition of 100% of Southern Prospecting Pty Ltd completed.
• Secures the Cobb Creek Project, located within Nevada’s prolific Independence Gold Trend, sub-parallel to the Carlin Trend.
• Cobb Creek hosts a historical NI 43-101 (non-JORC) gold estimate of 173,000 ounces at 1.4 g/t Au.
• Historical drilling intersected broad zones of shallow gold mineralisation including:

  o 33.5m @ 1.9 g/t Au from 18.3m (incl. 12.2m @ 4.1 g/t Au)

  o 30.5m @ 1.7 g/t Au from 6.1m (incl. 15.2m @ 2.9 g/t Au)

  o 30.4m @ 1.4 g/t Au from 16.8m (incl. 4.6m @ 5.4 g/t Au)

  o 21.3m @ 1.7 g/t Au from 47.2m (incl. 9.1m @ 3.2 g/t Au)

• Portfolio also includes the Colorado Gulch and Silverstar Projects in Idaho’s Central Gold Belt.
• Board renewal completed with the appointment of Martin Walter as Non-Executive Director.
• Permitting and target refinement programs to advance across the US portfolio.

Overview:

Acquisition Completion

PVW Resources Limited (PVW or the Company) is pleased to advise that it has completed the acquisition of 100% of the issued capital of Southern Prospecting Pty Ltd (Southern Prospecting).

Southern Prospecting holds exclusive options to acquire a 100% interest in the Cobb Creek, Colorado Gulch and Silverstar Projects, located in Nevada and Idaho, USA.

The acquisition was completed following satisfaction (or waiver) of all conditions precedent, including due diligence, shareholder approvals, regulatory approvals and completion of the
associated capital raising.1

Overview of Acquired Assets

Cobb Creek Project – Nevada

The Cobb Creek Project is located in Elko County, Nevada, within the Independence Gold Trend, one of Nevada’s significant gold corridors.

The project hosts a historical NI 43-101 (non-JORC) gold estimate of approximately 173,000 ounces at an average grade of 1.4 g/t Au, based on drilling and trenching completed
between 1983 and 1992. 2

Past drilling returned broad zones of near-surface gold mineralisation including:

• 33.5m @ 1.9 g/t Au from 18.3m (incl. 12.2m @ 4.1 g/t Au)
• 30.5m @ 1.7 g/t Au from 6.1m (incl. 15.2m @ 2.9 g/t Au)
• 30.4m @ 1.4 g/t Au from 16.8m (incl. 4.6m @ 5.4 g/t Au)
• 21.3m @ 1.7 g/t Au from 47.2m (incl. 9.1m @ 3.2 g/t Au)

Multiple exploration targets have been identified along strike and at depth, with open extensions interpreted in several directions.

Colorado Gulch and Silverstar Projects – Idaho

• Located within Idaho’s Central Gold Belt, a historic precious metals district.
• Both projects host historical underground workings and recorded gold and silver mineralisation.
• Limited modern systematic exploration has been undertaken to date.

Further technical detail regarding the projects has been previously disclosed in the Company’s ASX announcement dated 17 September 2025.

Board Changes

Following completion of the acquisition:

• Mr Martin Walter, current CEO of Southern Prospecting Pty Ltd, has been appointed as a Non-Executive Director of PVW Resources Limited.
• Mr Luis Azevedo has resigned as a Non-Executive Director of the Company.

The Board thanks Mr Azevedo for his contribution and support during the Company’s Brazilian-focused phase and notes that his resignation follows the Company’s strategic shift toward North American precious metals exploration.

The Board considers the appointment of Mr Walter to materially strengthen PVW’s
technical and commercial capability in advancing its US gold and silver portfolio.

Next Steps

PVW intends to:

• progress permitting activities at the Cobb Creek Project;
• commence geophysical and target refinement programs;
• undertake reconnaissance and validation programs across the Idaho projects; and
• advance a staged exploration strategy across the US portfolio.

Full ASX Announcement: PVW ASX Announcement