South Cobar Breakthrough: 38.5M oz Silver Equivalent

Key Concepts

• Silver Equivalent Ounce (SEOz): A measure of the total metal value in a deposit, converting all metals (silver, gold, lead, zinc) into the equivalent amount of silver based on their current market prices.
• Shear Zone: A zone of weakness in rock caused by deformation, often hosting mineral deposits.
• Maiden/Initial Mineral Resource: The first formally estimated and reported quantity of a mineral deposit.
• Infill Drilling: Drilling conducted to increase the confidence in a mineral resource estimate.
• Exploration Drilling: Drilling conducted to discover new mineral deposits or expand existing ones.

South Coba Project – Resource Update & Future Exploration

The team has made significant progress on the South Coba project since its initial public offering in 2021 and the discovery of the deposit in April of last year. To date, a total of 10,800 meters of drilling has been completed, resulting in a defined resource of 38 million silver equivalent ounces (SEOz). This resource comprises silver, gold, lead, and zinc; copper is present but currently not included in the resource calculation. The deposit is located near surface, presenting favorable mining conditions. The cost of adding these silver equivalent ounces is reported as 14 cents per equivalent ounce, with the current silver price around $92 Australian dollars, indicating strong economic viability.

Resource Details & Current Status

The current resource estimate stands at 10 million tons at the Achilles deposit. Importantly, 11 drill holes are currently pending inclusion in the resource model, and a further 23 recent drill holes have not yet been incorporated. The team anticipates updating the resource estimate once the results from these 11 holes are available. The South Coba project is described as a “fertile package of ground,” with significant potential for expansion.

2026 Exploration Strategy – Expanding the Resource Base

A key focus for 2026 will be expanding the resource base through targeted exploration. Approximately 80% of the project area remains “undercover” – meaning it is obscured by a thin layer of sand, dust, or soil. The exploration strategy will involve shallow exploration drilling along fertile shear zones, specifically targeting areas similar to the Achilles shear zone, with the aim of discovering additional Achilles-style deposits.

A dedicated diamond drill rig will be stationed at the Brown’s Reef deposit throughout the entirety of next year. Brown’s Reef, a 6 km long zone with 25 km of historical drilling, has not yet had a defined maiden mineral resource. The team aims to define an initial mineral resource at Brown’s Reef in 2026, mirroring the success achieved at Achilles.

Financial Performance & Outlook

The addition of silver equivalent ounces at 14 cents per equivalent ounce, coupled with the current silver price of $92 Australian, is described as “really spectacular,” highlighting the project’s economic potential. The company anticipates 2026 to be a “big growth year” for Australian Golden Copper, driven by the planned exploration activities and resource definition work.

Notable Quote

“We’ve built a bit of inventory there, silver equivalent inventory…we are excited about the 80% of the terrain that is undercover.” – This statement emphasizes the significant exploration potential remaining within the South Coba project area.