High-Grade Hits Drive Gorilla Gold Growth

Key Concepts

• Mari Project: A gold exploration project located 120km north of Calgulli, Western Australia, operated by Guerilla.
• Resource Upgrade: Increasing the estimated quantity and quality of gold reserves based on drilling results.
• Indicated Resources: A category of mineral resources with sufficient geological confidence to support mine planning.
• g/ton (grams per tonne): A unit of measurement for gold concentration.
• Mining Leases (Granted): Legal rights to extract minerals from a specific area.
• Metallurgy: The science of extracting metals from their ores.
• Hydrology: The study of the movement, distribution, and quality of water, crucial for mine planning.

Mari Project – Drilling Results and Development Strategy

The Guerilla Resources Mari project, situated 120 kilometers north of Calgulli in Western Australia, is demonstrating significant potential for gold production. Initial work in August 2025 identified a 350,000 ounce gold resource at a grade of 3.6 grams per tonne (g/t) following a three-month drilling program. This represented a 300% increase in the previously known resource, prompting a further, ongoing drilling campaign initiated in late 2025.

Recent drilling results from this subsequent program indicate the presence of high-grade gold mineralization extending both at depth and along strike, beyond the currently defined resource area. This suggests substantial potential for resource expansion. Guerilla currently operates with five drilling rigs: two focused on the Mari project and three at the Comet Veil project, with plans to deploy rigs to the Vivian project later in the year.

Portfolio Overview & Resource Base

Guerilla’s overarching strategy is the rapid advancement of its gold projects in Western Australia. The company currently boasts a total of 1.5 million ounces of gold across three projects – Mari, Comet Veil, and Vivian – all held under granted mining leases. The average gold grade across these projects is 3.8 g/t. The company aims to capitalize on the current high gold price environment to accelerate these projects into development.

Planned Activities & Timelines

A key focus for 2026 is resource upgrades for all three projects: Mari, Comet Veil, and Vivian. This will be driven by the ongoing drilling programs. However, Guerilla is simultaneously undertaking critical studies alongside the resource drilling. These studies encompass:

• Mine Design: Planning the physical layout and extraction methods for the mine.
• Hydrology Work: Assessing water resources and managing water flow within the mine site.
• Metallurgy Work: Determining the optimal methods for extracting gold from the ore.
• Permitting: Obtaining the necessary regulatory approvals for mine development.

This parallel approach – resource expansion and development studies – is intended to expedite the projects towards production.

Strategic Focus & Future Outlook

Guerilla’s strategy emphasizes a dual pathway: increasing the resource size and converting resources into the ‘indicated’ category (resources with a higher level of geological confidence suitable for mine planning) while simultaneously preparing for mine development. As stated implicitly through the described activities, the company is actively working towards bringing these projects into production as efficiently as possible.