$4.6M RAISE SETS STAGE FOR EXPANDED WA GOLD DRILLING

Strongly supported placement funds aggressive exploration across Duketon and beyond

Great Southern Mining Limited (ASX:GSN) has secured firm commitments to raise approximately $4.6 million through a share placement, positioning the company to accelerate drilling across its Western Australian gold portfolio.

The placement was reportedly well supported by a mix of new institutional and sophisticated investors, alongside existing shareholders, with demand exceeding the targeted raise. Directors and management have also committed $0.4 million, subject to shareholder approval.

With the fresh capital and existing cash reserves, Great Southern Mining expects to be fully funded for an expanded exploration push in 2026, primarily focused on its 100%-owned Duketon Gold Project.

Funds will be directed towards reverse circulation (RC) and diamond drilling programs targeting key discoveries and prospects, including:

Golden Boulder discovery, where shallow gold mineralisation extends over approximately 3.5km and remains open along strike and at depth
Amy Clarke discovery, with shallow mineralisation defined across a 4.7km strike extent, also open in multiple directions
Mon Ami Gold Project, following up high-grade results including:
- 10m @ 2.7g/t Au from 241m, including 5m @ 5.2g/t Au (hole 21MARC010)

Additional drilling is underway at the Diorite Hill PGE-base metal target within the East Laverton Project, with upcoming deeper diamond drilling at Golden Boulder co-funded under the WA Government’s Exploration Incentive Scheme (EIS).

In Queensland, drilling is set to recommence in May 2026 at the Mt Dillon target within the Edinburgh Park Joint Venture, fully funded by partner Gold Fields.

The placement comprises over 165 million new shares issued at $0.028 per share, representing a 15% discount to the last closing price of $0.033. Morgans Corporate Limited and Salient Corporate acted as Joint Lead Managers.

Managing Director, Matthew Keane

With a strengthened balance sheet, the Company can now aggressively accelerate discovery and resource definition with its 100% owned, highly prospective Western Australian gold project portfolio. A key focus will be the Duketon Gold Project where two significant discoveries are taking shape at the Golden Boulder and Amy Clarke prospects.

In addition, the Company with our Joint Venture partner Gold Fields, is looking forward to an exciting 12 months ahead as we drill multiple high impact targets chasing monster gold and gold-copper deposits in north Queensland.

The Board would like to thank new and existing shareholders for their strong support in this placement.