1.2MOZ @ 3.0G/T GOLD UNVEILED IN GRADINA MAIDEN RESOURCE ESTIMATE

Strickland boosts Rogozna Project resource to 8.6Moz AuEq as drilling continues

Strickland Metals Limited (ASX:STK) has announced a maiden Inferred Mineral Resource Estimate (MRE) for the Gradina Deposit at its 100%-owned Rogozna Gold and Base Metals Project in Serbia, reporting 12Mt @ 3.0g/t Au for 1.2Moz of gold.

This new MRE lifts the total Inferred Resource for the Rogozna Project by approximately 16%, bringing the overall resource base to 8.6Moz AuEq. The discovery cost for Gradina stands at just US$10/oz Au.

The Gradina MRE was defined using an underground mining scenario based on a long-hole open stoping method, with a cut-off grade of 1.5g/t Au and a gold price assumption of US$2,500/oz. The deposit boasts strong vertical continuity, with an average of 3,100 ounces of gold per vertical metre.

The mineralisation remains open in all directions, with further drilling in 2026 to target:

The “gap zone” between the northern and southern zones of the deposit
Along strike north of hole ZRSD25190: 19.6m @ 7.0g/t Au from 377.0m
Along strike south of hole ZRSD25212: 702.5m @ 0.9g/t Au and 0.6% Zn from 274.1m, including 80.0m @ 2.3g/t Au from 632.8m
At depth, along an 800m zone of continuous mineralisation still open

Drilling at Rogozna is ongoing, with two rigs targeting the Gradina gap zone and three additional rigs conducting regional exploration. An updated resource for the Shanac Deposit (5.3Moz AuEq) is expected in Q1 2026.

As of 30 September 2025, Strickland reported $41.8 million in cash and liquid assets.

Strickland’s Managing Director, Paul L’Herpiniere, said:
Delivering a maiden Resource of 1.2Moz Au for the Gradina Deposit, with an average grade of 3.0g/t Au, is an outstanding result which reinforces the quality and scale of the Rogozna Project.

Recent drilling at Gradina has delivered some exceptional intercepts of high-grade, gold-dominant mineralisation across the length of the deposit, underpinning a substantial maiden MRE at a discovery cost of just $US10/oz. By global standards, this is a very high return on exploration investment, highlighting the value that Rogozna’s large-scale mineralisation style offers.

Importantly, the MRE at Gradina is highly likely to grow further with the deposit remaining open to the north, the south, the “gap zone” and also at depth. Of note is that the MRE is open south of drill-hole ZRSD25212, which intersected over 700 metres of continuous mineralisation including 80.0m @ 2.3g/t Au³.

This MRE represents an important milestone for the Rogozna Project, with the resource base increasing again to 8.6Moz AuEq¹ – reflecting significant investment and effort since mid-2024. This latest update follows the substantial MRE updates posted earlier this year and sets the scene for continued growth into 2026, with an updated MRE for the cornerstone Shanac Deposit due in early 2026.

I would like to take this opportunity to thank and congratulate our world-class team in Serbia on delivering this outcome on time and budget. We look forward to further exploration success in 2026.