Quarterly Activities and Cashflow Reports, ASX 30 October 2026
The short cautions on this site's pages refer to the statements below, as lodged.
Selection is not a commitment by DOE to issue an award or provide funding; DOE may cancel negotiations and rescind the selection at any time; no funding has been obligated; the funded scope and award amount remain subject to negotiation.
Negotiations are continuing, and the award, if made, is now expected later than the up to 120 days indicated in August 2026.
Operated in batch mode at bench and demonstration scale, not the continuous design configuration; handheld XRF grades are indicative only; laboratory assays are pending; no recovery, product specification or production target is reported or implied; the final refining stage has not been undertaken.
No Mineral Resource or Ore Reserve is declared for antimony. Timing statements for mining and the refinery are aspirational targets, not production targets; no feasibility, pre-feasibility or scoping study has been completed; they depend on permitting, funding, award negotiations, further studies and formal Board approval, and there is no certainty they will be achieved.
Investor Presentation, ASX 9 October 2026 · page 2
This presentation has been prepared based on information available at the time of its preparation.
Various statements in this presentation constitute statements relating to intentions, future acts and events. Such statements are generally classified as forward-looking statements and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed herein. Words such as anticipates, expects, intends, plans, believes, seeks, estimates, targets and similar expressions identify forward-looking statements. Statements regarding development timing, feasibility, permitting, processing, Frontier Antimony Refinery Corp., capital and strategy are forward-looking. Government applications and selections are not awards, and discussions are not binding agreements. Felix Gold cautions shareholders and prospective shareholders not to place undue reliance on these statements, which reflect the view of Felix Gold only as of the date of this presentation. Forward-looking statements are not guarantees of future performance.
This presentation is for information only. It is not an offer, invitation or recommendation to subscribe for or purchase securities in Felix Gold Limited or Frontier Antimony Refinery Corp. in any jurisdiction, and it is not a prospectus or disclosure document under the Corporations Act 2001 (Cth) or the U.S. Securities Act of 1933. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and persons into whose possession it comes should inform themselves about and observe such restrictions. All dollar figures are Australian dollars unless otherwise indicated; US$ are United States dollars.
Felix Gold has no Mineral Resource or Ore Reserve declared for antimony and no JORC-compliant economic study has been completed. No production target or guidance is given. Antimony grades referenced are from selected high-grade samples and are not average deposit grades. References to processing design capacity are conceptual, are based on scoping-level engineering, and are not production targets for the purposes of ASX Listing Rule 19.12. The Company makes no statement of grade, contained metal or recoverable quantity in respect of stockpiled material. Pilot plant grades are indicative by handheld XRF, laboratory assays are pending and no recovery, throughput, product specification or production target is reported or implied. Metallurgical results are from independent laboratories on selected samples. The Department of Energy selection is a selection to enter award negotiations; no funds are obligated until an award agreement is executed by a DOE Grants Officer. References to ore describe the antimony-bearing material extracted from Treasure Creek and processed in the testwork program. No Mineral Resource or Ore Reserve has been estimated or declared for antimony at Treasure Creek under the JORC Code (2012), and the metallurgical results are not an estimate of Mineral Resources or Ore Reserves. The Company is assessing the viability of commercial production; no formal economic studies under the JORC Code have been completed and there is no certainty commercial production will eventuate. No metal at 99.65% Sb or any other commercial specification has been produced. Any progression to production remains subject to further technical, regulatory, commercial, permitting and Board approvals.
The information in this presentation that relates to Exploration Results and Mineral Resources for Felix Gold's Fairbanks projects is extracted from ASX announcements available at felixgold.com.au and on the ASX platform, and listed in the Disclosures page of this presentation. The reports were issued in accordance with the 2012 Edition of the JORC Code. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original announcements. Market and macroeconomic data are sourced from the United States Geological Survey, Fastmarkets, S&P Global Market Intelligence and United States Government publications. Third-party and market data are unverified and provided for context only.
The information relating to metallurgical testwork is based on, and fairly represents, information compiled by Mr Wayne Anderson, a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM), an independent consultant to Felix Gold Limited, who has sufficient experience relevant to the style of mineralisation and type of testwork to qualify as a Competent Person under the JORC Code (2012) and consents to its inclusion in the form and context in which it appears. The Treasure Creek exploration results were previously reported by Felix Gold Limited in the announcements listed on the Disclosures page, which contain the Competent Person statement and consent and the JORC Code (2012) Table 1 information.
Investor Presentation, ASX 9 October 2026 · page 22
JORC 2012 Inferred gold resources are extracted from ASX announcements including the IPO Prospectus (28 January 2022, Grant Mine) and the NW Array maiden resource (20 June 2024). The Company confirms it is not aware of new information that materially affects those estimates and that all material assumptions and technical parameters continue to apply. Competent Person consents continue to apply.
No Mineral Resource or Ore Reserve is declared for antimony; no production target or guidance is given. Grades are from selected high-grade samples, not average deposit grades. The Company is assessing the economic viability of antimony production; no JORC-compliant economic study is complete. Grade thickness comparisons are a comparative measure only, not a Mineral Resource and not an indication of true width.
The information relating to metallurgical testwork is based on, and fairly represents, information compiled by Mr Wayne Anderson, a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM), an independent consultant to Felix Gold Limited, who has sufficient experience relevant to the style of mineralisation and type of testwork to qualify as a Competent Person under the JORC Code (2012) and consents to its inclusion in the form and context in which it appears. The Treasure Creek exploration results were previously reported by Felix Gold Limited in the announcements listed on the Disclosures page, which contain the Competent Person statement and consent and the JORC Code (2012) Table 1 information.
Statements on development, timing, feasibility, permitting, processing, Frontier, capital and strategy are forward-looking and subject to risk; actual results may differ materially. Government applications and selections are not awards and discussions are not binding agreements. Third-party and market data are unverified and provided for context only.
All announcements are available at felixgold.com.au and on the ASX platform.
Investor Presentation, ASX 9 October 2026 · the slide footnotes
Each note is the footnote the lodged presentation prints under the slide the website's figure or statement comes from, reproduced once, word for word.
Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared. Forward-looking statements are subject to studies, permitting, funding and Board approval. See Important notices.
Dates are announcement or effective dates.
Tenure from the State of Alaska's tenure data (DNR, 18 September 2026). Roads, railway and third-party operations from OpenStreetMap (© OpenStreetMap contributors) and public sources, indicative. Mineral Resources are as previously reported; refer to the Disclosures appendix. Fort Knox is a third-party operation; any processing arrangement is subject to commercial agreement.
Sources: USGS Mineral Commodity Summaries 2026; Fastmarkets; United States Government publications. Third-party and market data are unverified and provided for context only. Selected high-grade samples, not average grades. No antimony Mineral Resource or Ore Reserve is declared.
Frontier does not dilute Felix Gold ownership of the underlying assets. It is the commercial vehicle through which those assets are monetised in the U.S. market. Render is conceptual only.
Metallurgical results are from independent laboratories on selected high-grade samples, not average deposit grades. Commercial-scale validation is pending and no feasibility study is complete. Testwork: Core Resources, Blue Coast Research, University of British Columbia. Sources: ASX 19 November 2025, 26 March 2026.
Source: S&P Global Market Intelligence, August 2026. Antimony intercepts reported over the past three years, from drilling and from surface trenching, starting within 50 m of surface. Coverage reflects companies that report publicly to the database and does not include unreported results from China, Russia or Tajikistan; where no start depth is reported the intercept is at surface. Grades are % Sb; grade thickness is grade multiplied by thickness (% Sb × m). Grade thickness is a comparative measure only. It is not a Mineral Resource and is not an indication of true width. Intercepts are ranked, not holes, so a hole or trench with more than one separate zone can appear more than once; a revision supersedes the original it revises and is marked rev. Thickness is as reported and not necessarily true width. Third-party results are as publicly reported by those companies and not independently verified by Felix Gold. Treasure Creek results were previously reported by Felix Gold Limited in the announcements listed on the Disclosures page.
No material environmental incidents, breaches or enforcement actions occurred during FY2026. Formal sustainability reporting aligned with the Australian Sustainability Reporting Standards and AASB S2 will follow as the project moves toward production.
The Company makes no statement of grade, contained metal or recoverable quantity in respect of stockpiled material. Treasure Creek has been accepted into the Alaska DNR Office of Project Management and Permitting coordination process, a voluntary service. Toll treatment is subject to commercial agreement; no binding agreement has been reached.
Ore and fume grades are indicative by handheld XRF, not calibrated to certified reference standards. The ingot grade is taken from a draft mineralogical report; laboratory assays are pending and the final refining stage was not undertaken. Batch operation on bench and demonstration-scale equipment; no recovery, throughput, product specification or production target is reported or implied. No metal at any commercial specification has been produced.
Selection commences an award negotiation of up to 120 days. Funding is obligated only on execution of an award agreement by a Department of Energy Grants Officer, and the Department may cancel negotiations or change the amount at any time. No U.S. Government funding commitments or offtake agreements have been entered into by Felix Gold or Frontier.
Design references are conceptual, based on scoping-level engineering, and are not production targets (ASX Listing Rule 19.12). No feasibility study is complete. Toll treatment discussions continue with third-party processors; no binding agreement has been reached.
Timelines are indicative and forward-looking. They are subject to permitting, technical studies, funding, commercial agreements, the outcome of the DOE award negotiation and Board approval, and do not constitute a production target.
Gold Mineral Resources: NW Array Inferred 25,000,000 t at 0.58 g/t Au for 467,000 oz (ASX 20 June 2024); Grant Mine Inferred 364,000 oz, being open pit 5,124,800 t at 1.38 g/t for 227,900 oz and underground 682,300 t at 6.2 g/t for 136,100 oz (ASX 28 January 2022). No toll treatment or offtake arrangement exists with any third-party mill operator.
Shares on issue and options as at 18 September 2026 and cash at 30 June 2026, per the FY2026 Annual Report (ASX 30 September 2026). Key shareholders and shareholder location as at 1 September 2026.
Photographs show material exposed or extracted at Treasure Creek. Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest.
