Announcement PDF SULTAN RESOURCES LTD ABN 35 623 652 522 Annual Report for the Year Ended 30 June 2026 Annual Report | 30 June 2026 2 | P a g e Contents Corporate Directory 3 Directors' Report 4 Auditor’s Independence Declaration 28 Consolidated Statement of Profit or Loss and Other Comprehensive Income 29 Consolidated Statement of Financial Position 30 Consolidated Statement of Changes in Equity 31 Consolidated Statement of Cash Flows 32 Notes to the Consolidated Financial Statements 33 Consolidated Entity Disclosure Statement 56 Directors' Declaration 57 Independent Auditor’s Report 58 Corporate Governance Statement 62 ASX Additional Information 63 Annual Report | 30 June 2026 3 | P a g e Corporate Directory Board of Directors Lincoln Liu Non-Executive Chairman Nic Maurice Matich Non-Executive Director Mark Mitchell Non-Executive Director Secretary Mauro Piccini (Appointed 15 May 2026) Hannah Cabatit (Resigned 15 May 2026) Registered Office Suite 1 38 Colin Street West Perth WA 6005 Telephone: 08 6559 1792 Website: www.sultanresources.com.au Securities Exchange Listing Listed on the Australian Securities Exchange (ASX Code: SLZ) Listed on the US OTCID Markets (Code: SLZRF) Auditors RSM Australia Level 32, Exchange Tower 2 The Esplanade Perth WA 6000 Solicitors Steinepreis Paganin Level 14 - QV1 250 St Georges Terrace, Perth WA 6000 Bankers Westpac Banking Corporation Level 13, 109 St Georges Terrace Perth WA 6000 Share Registry Automic Share Registry Level 5, 191 St Georges Terrace Pert WA 6000 Telephone: 1300 288 664 Annual Report | 30 June 2026 4 | P a g e Directors’ Report The Directors of Sultan Resources Limited (“SLZ” or “the Company”) present their report, together with the financial statements on the consolidated entity consisting of Sultan Resources Limited and its controlled entities (“the Group”) for the year ended 30 June 2026. DIRECTORS The names and particulars of the Company’s directors in office during the financial year and at the date of this report are as follows. The Directors held office for this entire year unless otherwise stated. Lincoln Liu |Non-Executive Chairman Mr Liu has acted in various roles as advisor to several mining companies in their growth phase and across a range of commodities. He has worked in the Australian Equities market for 15 years. His experience includes trading, equities research and investment banking having completed numerous Capital Raising, M&A, IPO and Private Equity deals. He is the founder of a Sydney based Corporate advisory firm servicing growth companies in the mining and technology sectors. He holds a Bachelor’s degree from Western Sydney University, a Master of Commerce (Finance) from the University of New South Wales and a Master of Business Administration from the University of Sydney. During the past three years, Mr Liu held the following directorships in other ASX listed companies: • Managing Director of Red Mountain Mining Ltd (current); • Non-Executive Director of Pinnacle Minerals Ltd (resigned 14 December 2025) • Chairman of West Cobar Metals Ltd (current) Jeremy King | Non-Executive Director (Resigned 17 September 2026) Mr King is a corporate lawyer and adviser with over 20 years’ experience in domestic and international legal, financial and corporate matters. Mr King is a director of a boutique corporate advisory and compliance business where he specializes in corporate and strategic advice and managing legal issues associated with clients. He spent several years in London where he worked with Allen and Overy LLP and Debevoise & Plimpton LLP and has extensive experience, particularly in relation to cross border private equity, leveraged buy-out acquisitions and acting for banks, financial institutions and corporate issuers in respect of various debt and equity capital raisings. He regularly advises ASX listed companies on corporate and commercial matters. During the past three years, Mr King held the following directorships in other ASX listed companies: • Non-Executive Chairman of ECS Botanics Holdings Ltd (current); • Non-Executive Director of Smart Parking Limited (current); • Non-Executive Chairman of Redcastle Resources Limited (resigned 31 March 2025); • Non-Executive Director of Burgundy Diamond Mines Limited (current); • Non-executive Director of Haranga Resources Limited (appointed 11 July 2025 ); and • Executive Corporate Director of C29 Metals Limited (resigned 15 March 2024) Mark Mitchell |Non-Executive Director Mr Mitchell has been a geologist for over 35 years in exploration in rare metals, lithium and base metals in Australia and international jurisdictions. He has significant experience ranging from targeting through to resource evaluation and has been successful in the discovery of several mineral deposits in Australia. He has acted in the capacity of company liaison representative on various research projects with AMIRA, CET, GRC as well as a brief period on the CME Exploration committee. He has geological membership with the Geological Society of Australia and Australian Institute of Geoscientists and is a Registered Professional Geoscientist. Annual Report | 30 June 2026 5 | P a g e Directors’ Report During the past three years, Mr Mitchell held the following directorships in other ASX listed companies: • Non-Executive Director of Aldoro Resources Limited (resigned 31st August 2024) Nic Maurice Matich|Non-Executive Director (Appointed 17 September 2026) Mr Matich is a mechanical engineer and finance professional with over 18 years’ experience in the resources sector. His wide industry experience includes the provision of engineering, risk consulting and insurance services to numerous tier 1 mining companies with operations in lithium, iron ore, mineral sands, gold and rare earths. Mr Matich holds a Bachelor of Engineering (Mech) with Honours, Bachelor of Science (Phys/IT), Graduate Diploma in Applied Finance and is a graduate of the Australian Institute of Company Directors. During the past three years, Mr. Matich held the following directorships in other ASX listed companies: • Non-Executive Director of Adavale Resources Ltd (appointed 31 July 2024) • Non-Executive Director of Temas Resources Corp (appointed 27 January 2026) • Managing Director of Pinnacle Minerals Ltd (appointed 20 October 2022, resigned 19 September 2024) • Executive Director of Heavy Minerals Ltd (appointed 10 February 2021, resigned 13 September 2022) COMPANY SECRETARY | Mauro Piccini (Appointed 15 May 2026, resigned 17 September 2026) Mr Piccini spent 9 years at the ASX and possesses core competencies in publicly listed and unlisted company secretarial, administration and governance disciplines. Mr Piccini is a Chartered Accountant (CA) and a member of the Governance Institute of Australia (GIA). Mr Piccini started his career in the Perth office of Ernst and Young (EY) where he spent several years in their assurance division. Ms Hannah Cabatit resigned as Company Secretary on 15 May 2026. COMPANY SECRETARY | Daniel Coletta (Appointed 17 September 2026) Mr Coletta is an experienced Chartered Secretary appointed as Company Secretary to several ASX listed and unlisted public companies. Mr Coletta specialises in providing secretarial, governance, finance and corporate advisory services and is a Member of the Governance Institute of Australia and Chartered Accountants Australia and New Zealand. INTERESTS IN SHARES AND OPTIONS OF THE COMPANY AND RELATED BODIES CORPORATE The following table sets out each current Director’s relevant interest in shares, options to acquire shares of the Company or a related body corporate as at the date of this report. Director Ordinary Shares Unlisted Options Listed Options Lincoln Liu 16,941,7211 - - Jeremy King 2 - - - Mark Mitchell - - - Maurice Matich - - - Total 16,941,721 - - 1Mr Lincoln Liu’s shares are held by Wynton Capital Pty Ltd, a company of which Mr Liu is a director and shareholder. 2 Not applicable as Mr Jeremy King is no longer a Director. Annual Report | 30 June 2026 6 | P a g e Directors’ Report PRINCIPAL ACTIVITIES The principal activities of the Company during the financial year were mineral exploration in Australia. REVIEW AND RESULTS OF OPERATIONS During the year the Company undertook a project review assessing the existing resource potential and commitments of the portfolio aligning the limits of funding capability and current market conditions. Sultan’s projects are located on the Lachlan Fold Belt in New South Wales, Australia, During the year, the Company relinquished the Thaduna (Northeast Yilgarn, WA) and Kondinin-Lake Grace (Yilgarn, WA) projects. NSW PROJECTS LACHLAN FOLD BELT PROJECT, NSW (EL8734, EL8735, EL9070) Sultan’s three Lachlan Fold Belt (LFB) tenements (EL8735, EL9070 and EL8734) cover 165 km2, including parts of the northern portion of the Late Ordovician to Early Silurian Molong and Rockley-Gulgong Volcanic Belts of the Macquarie Arc, which is broadly recognised as Australia’s premier porphyry Au-Cu province and host to Alkane Resources’ recent major Boda-Kaiser discovery (323Mt @ 0.26g/t Au and 0.15% Cu ASX: ALK 10 July 2024) and Newmont’s world-class Cadia East Au-Cu mine further to the south. As announced on 8 July 2025, the Company conducted a review of the existing datasets over the LFB tenements, identifying several Gold and Copper geochemical soil anomalies and anomalous rock chip samples. Associated geophysical evidence suggests significant potential for porphyry Au-Cu mineralisation. The Company identified the Ringaroo, Gowans Green and Razorback-Wattle Ridge Au-Cu targets located on tenement EL8735; and the Tucklan Au-Ag-Cu target located on tenement EL8734 for further exploration (Figure 1). The Company is undertaking an external geophysical review of magnetic, radiometric and Induced Polarisation (IP) survey data. The aim of the review is to identify the sources of the gold and copper geochemical rock and soil anomalies and recommend a strategy going forward. Annual Report | 30 June 2026 7 | P a g e Directors’ Report Figure 1: SLZ’s LFB tenements and priority target areas relative to the mapped exposures of the Macquarie Arc, gold and copper mineral occurrences from the Geological Survey of NSW database and the Boda-Kaiser porphyry Au-Cu deposit. RINGAROO AU-CU The Ringaroo porphyry Au-Cu target lies within the Molong Volcanic Belt at the northern end of EL8735, immediately south of Impact Minerals’ Aspley porphyry prospect. Key features of Ringaroo are summarised in Figure 2 and include: • A 1km x 0.4km >3.1ppb Au-in-soil anomaly, which is spatially associated with the Ringaroo magnetic high, interpreted to represent a magnetite-bearing (oxidised) volcanic and intrusive complex. • The anomaly is open to the NW, SE and NE, towards Impact Minerals (ASX:IPT) Apsley porphyry Au- Cu prospect. Impact reports high-grade copper rock chip results of up to 7.73% Cu immediately adjacent to Sultan’s northern tenement boundary (ASX: IPT 14 January 2020 and 23 April 2020). • The Au in soil anomaly also overlies a 900m x 300m IP chargeability anomaly (>9 mV/V and up to 30 mV/V) overlying a 1000 m wide resistivity anomaly (ASX: SLZ 10 November 2020). • A smaller >3.1ppb Au-in-soil anomaly lies on the NE end of another magnetic high and is open along strike to the SW. Annual Report | 30 June 2026 8 | P a g e Directors’ Report Subject to positive outcomes from the geophysical review, Sultan’s proposed work program for Ringaroo will focus on extending the soil sampling coverage to close off the soil anomalies, and additional IP lines over areas highlighted by the soil data to test for additional conductors and generate potential porphyry targets for drill testing. Figure 2: Total magnetic intensity (TMI) image over Ringaroo showing soil sample coverage and gold results, IP lines (black) and the IP chargeability anomaly, and Impact Minerals rock chip results from the Apsley porphyry prospect (ASX: IPT 14/01/2020 & 23/04/2020) immediately north of EL8735 (ASX: SLZ 9 July 2020). GOWAN GREEN AND RAZORBACK-WATTLE RIDGE AU-CU The Gowan Green and Razorback-Wattle Ridge porphyry Au-Cu targets are hosted within the Molong Volcanic Belt and are located in the southwest corner of EL8735. The two targets lie at either end of a 6km (N-S) by 1km (E-W) soil survey undertaken in 2020 over the Big Hill porphyry prospect (ASX: SLZ 2 June 2020), overlying a NE-trending magnetic ridge, considered to represent a portion of the Molong Volcanic Belt. Annual Report | 30 June 2026 9 | P a g e Directors’ Report Figure 3: Total magnetic intensity (TMI) image over the Big Hill area, showing (left) gold-in-soil results, with anomalous >3.1ppb Au values contoured; and (right) rock chip copper values relative to the anomalous soils, the location of the historical workings at Gowan Green, and the locations of the Gowan Green and Razorback-Wattle Ridge targets. The central portion of the soil anomaly corresponds to the Big Hill target. Note that due to the narrow focus of the soil survey, most of the anomalous zones remain at least partially open to the east. The magnetic high corresponding to the Molong Volcanic Belt is clearly visible (ASX: SLZ 30 September 2020). Key features of the Gowan Green Au-Cu porphyry target are summarised in Figure 4 and include: • Multiple gold-in-soil anomalies, with associated Cu and pathfinder elements (ASX: SLZ 2 June 2020), associated with a magnetic high, correlating with mapped volcanic and intrusive rocks of the Molong Volcanic Belt. The anomalies are mostly open to the NE, due to limited soil sample coverage. • The soil anomalies are proximal to and appear to border multiple discrete IP chargeability anomalies. • Samples of oxidized mullock collected from historic Cu-Au workings (Table 1 and Figure 5) contain up to 24.6 g/t Au, 26.1% Cu and 65.5g/t Ag, supporting the presence of a base and precious metal rich mineralising system. • Lithogeochemical studies of multi-element whole rock data confirm that the Gowan Green rocks are calc-alkaline basalts, with a volcanic arc tectonic signature consistent with being part of the Molong Volcanic Belt of the Macquarie Arc, recognised as Australia’s premier porphyry Au-Cu province. • Outcropping silica-limonite skarns and chlorite-altered mafic volcanics have been mapped in the area, supporting the presence of a large-scale hydrothermal system. Annual Report | 30 June 2026 10 | P a g e Directors’ Report Figure 4: Total magnetic intensity (TMI) image over Gowan Green, showing Au-in-soil results and IP chargeability anomalies. Copper and gold values for mullock samples collected from the historical copper workings are also shown. Further analytical results for these samples are provided in Table 1 (Refer ASX: SLZ 20 May 2020). Table 1: Assay results for mullock samples collected from Gowan Green (ASX: SLZ 20 May 2020). SampleID MGA_East MGA_North Au g/t Ag g/t As ppm Bi ppm Cu % In ppm Mo ppm Na % Ni ppm Pb ppm S % Se ppm Te ppm SPR020 684568 6369967 24.6 65.5 938 91.4 26.10 4.88 4.19 0.03 3630 584 0.07 116 171.5 SPR021 684569 6369967 2.69 20.0 203 17.35 7.55 0.619 1.06 1.92 3740 177 0.03 14 16.7 SPR022 684568 6369968 0.513 7.7 174 2.23 4.49 0.177 0.56 1.66 2320 28 0.01 2 4.08 SPR023 684568 6369969 0.353 11.7 93 1.85 5.96 0.141 0.7 2.96 2730 69 0.14 2 3.05 SPR024 684567 6369967 0.939 21.6 95 3.46 5.71 0.252 0.57 3.41 2670 82 0.06 6 6.01 SPR025 684567 6369966 0.038 7.9 105 1.51 10.10 0.06 0.7 2.04 5130 32 0.12 1 0.65 SPR026 684569 6369968 1.16 24.8 654 2.77 12.55 0.447 0.61 1.7 4650 125 0.04 5 8.03 Annual Report | 30 June 2026 11 | P a g e Directors’ Report Figure 5: Mullock sample of malachite veined gossan with limonitic boxwork after sulfide (Sample SPR020) (ASX: SLZ 20 May 2020). Subject to a positive outcome from the geophysical review, Sultan may progress the Gowan Green target in a similar manner to Ringaroo. This may include expanding the soil-geochemical survey to the north and east to close off existing anomalies and integrating those results with the geophysical interpretation to identify potential porphyry-style drill targets. Key features of the Razorback-Wattle Ridge Au-Cu porphyry target are summarised in Figure 6 and include: • Surface mapping of propylitic alteration, pyrite and chalcopyrite mineralisation, a ~1km long skarn breccia, diorite and monzodiorite mapped at surface, providing confidence that all the required components of a porphyry Au-Cu system are present. • Anomalous Au, Cu and pathfinder elements in soil sampling, although the sampling once again failed to cover the full width of the target and is open to the east, and multiple Au- and Cu- mineralised outcrop and float samples, collected across the length of the target (Table 2). • A large underlying IP chargeability anomaly which has not been drill tested. Previous drilling focused on the skarn breccia, which shows evidence of copper and gold mineralisation (Figure 7). • Although the results of previous drilling into the skarn were disappointing, the holes reported sericite alteration, elevated Au-Cu-Ag-Mo-W values, zones of quartz carbonate veining, and hydrothermal breccias with infill disseminated pyrite and minor chalcopyrite and bornite blebs (ASX: SLZ 15 March 2022). These results are consistent with proximity to porphyry-style mineralisation. • Drill results also suggest that alteration intensity and Cu and Au grades increase with depth, towards an interpreted source that is broadly coincident with the untested IP anomaly, shown as a porphyry target on Figure 6. Annual Report | 30 June 2026 12 | P a g e Directors’ Report Figure 6: Total magnetic intensity (TMI) image over Razorback-Wattle Ridge, showing mapped surface lithology and alteration, IP chargeability wireframe (10 mV/V), 3.1ppb Au in soils (again open to the east) and previous drilling, which focused on the mapped surface skarn breccia. The dashed yellow line shows an interpreted porphyry target based on the IP, magnetics and previous drilling results, with the skarn breccia located along its eastern margin. (Refer to ASX: SLZ 3 February 2022 and ASX: SLZ 15 March 2022). Table 2: Assay results for outcrop and float rock chip samples from the Razorback-Wattle Ridge prospect. (Refer to ASX: SLZ 30 September 2020 and 20 May 2020). SampleID Sample_Type MGA_East MGA_North Au g/t Ag g/t As Bi ppm Cu % In ppm Mo ppm Na % Ni ppm Pb ppm S % Se ppm Te ppm SPR003 Outcrop 684291 6366977 0.004 0.00 4 0.04 0.006 0.043 0.86 2.86 15 5 0.005 0.5 0.025 SPR004 Float 684312 6366942 0.007 2.90 45 0.15 1.300 0.073 1.13 0.95 3 34 0.01 0.5 0.025 SPR005 Float 684313 6366943 0.001 3.80 67 0.15 2.400 0.061 0.99 0.09 3 43 0.005 0.5 0.025 SPR006 Float 684296 6366983 0.002 0.50 13 0.05 0.170 0.046 0.71 5.35 16 8 0.01 0.5 0.025 SPR014 Float 684288 6366977 0.003 7.00 168 0.03 2.210 0.044 1.51 0.22 10 23 0.01 0.5 0.025 SPR015 Float 684289 6366978 0.002 9.20 207 0.03 2.500 0.042 1.65 0.12 8 21 0.02 0.5 0.025 SPR037 Outcrop 685005 6366247 1.120 0.17 115.5 0.22 0.130 3.59 2.1 0.07 SPR038 Outcrop 685006 6366247 1.690 0.16 67.5 0.35 0.100 9.43 2 0.04 SPR039 Outcrop 685008 6366248 1.140 0.24 50.4 0.27 0.140 8.95 1.8 0.15 SPR040 Outcrop 685009 6366249 2.250 0.28 77.2 0.25 0.070 4.83 1.9 0.15 SPR051 Outcrop 684922 6365610 0.582 0.10 253 0.18 0.090 2.09 2 0.85 SPR058 Outcrop 684976 6365850 0.586 0.24 100.5 0.24 0.506 2.6 3.3 0.3 SPR059 Outcrop 684976 6365852 0.382 0.27 81.2 0.34 0.548 3.69 3.3 0.29 SPR062 Outcrop 684971 6365887 0.418 0.14 29.2 0.11 0.500 0.89 1.4 0.25 SPR066 Outcrop 685015 6366085 0.040 0.28 139.9 0.1 0.779 1.02 1.7 0.69 SPR067 Outcrop 685008 6366096 0.480 0.11 159 0.15 0.195 0.49 2.3 1.32 SPR068 Outcrop 685005 6366101 0.980 1.25 93 0.25 2.650 10.12 2.9 1.81 SPR070 Outcrop 685008 6366096 0.565 0.10 130.5 0.12 0.242 0.53 1.9 1.27 SPR078 Outcrop 685008 6366096 0.558 1.00 43.6 0.24 2.240 1.16 2.7 1.18 SPR079 Outcrop 685005 6366101 0.620 1.13 41.8 0.22 2.420 1.1 2.5 1.38 SPR080 Outcrop 685005 6366101 0.640 0.83 95.7 0.25 2.000 1.12 2.8 1.17 SPR081 Outcrop 685005 6366101 0.990 0.86 105 0.29 2.090 1.47 2.7 0.98 Annual Report | 30 June 2026 13 | P a g e Directors’ Report Figure 7: Samples of mineralised chalcopyrite- and malachite-bearing skarn breccia from Razorback-Wattle Ridge. Both samples were collected close to the collar location of RZD001. The sample locations are provided in Table 2. Subject to successful outcomes of the geophysical review, further exploration at the Razorback-Wattle Ridge target, may include expanding the soil grid at to fully cover the existing IP anomaly. In addition, surface mapping and rock chip sampling may be undertaken in order to better understand the distribution of intrusive rocks, alteration and mineralisation to select the best possible locations for drill testing of the porphyry Au-Cu target. TUCKLAN PROJECT Located in the Rockley-Gulgong Volcanic Belts of the Macquarie Arc and the Mudgee Fault corridor that has undergone limited exploration. Past exploration included the identification of the Tucklan open ended silver anomaly where the drilling a chargeability IP anomaly with coincident surface gold-in-soil and gold bearing rock chip hit a broad zone of silver mineralisation, TRC001 88m@4.1g/t Ag from 200m. Four other targets have been identified in the licence for investigation, Figure 8. These five areas are currently under review. Annual Report | 30 June 2026 14 | P a g e Directors’ Report Figure 8: The five target areas at Tucklan currently under review. LFB Forward Work Program Proceeds from the previous capital raising are intended to support early-stage exploration across Sultan’s targets in the Lachlan Fold Belt. This includes fieldwork, geophysics, and preparatory activities aimed at refining drill targets. Subject to funding and operational conditions, the Company may commence groundwork during the current quarter and will update the market as this work progresses. NEW OPPORTUNITIES The Company continues to review acquisition or joint venture opportunities which are complementary to Sultan’s existing asset base and which have the potential to enhance shareholder value. The Board is focused on ensuring any new project will deliver significant upside to all shareholders but there can be no guarantee that any transaction will meet such requirements and be concluded. On 17 September 2025, Sultan announced that it had entered into a sale agreement with Aldoro Resources Limited (ASX:ARN) to acquire three projects in Namibia and Western Australia. Completion of the transaction was conditional on shareholders of the Company approving the issue of the consideration shares. Sultan shareholders did not approve the issue of the consideration shares at the 2025 Annual General Meeting and, as a result, the conditions were not satisfied and the acquisition did not complete. After completing a strategic review of the Company’s tenement package, it was decided to relinquish the Thaduna and Lake Grace project areas. Annual Report | 30 June 2026 15 | P a g e Directors’ Report Competent Persons Statement The information in this report that relates to Exploration Targets and Exploration Results is based on historical and recent exploration information compiled by Mr Mark Mitchell, who is a Competent Person and a Member of the Australian Institute of Geoscientists and a Director of Sultan Resources Limited. Mr Mitchell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mitchell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Disclaimer In relying on the above mentioned ASX announcement and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the above- mentioned announcement. CORPORATE During the year, the Company successful completed its pro-rata non-renounceable entitlement offer as announced to ASX on 25 July 2025. The Company received valid applications for 29,613,653 new fully paid ordinary shares, raising a total of $148,069 (before costs) and successfully placed all of the Shortfall shares available under the Shortfall Offer and issued 201,856,257 shares to raise a total of $1,009,282 before costs. The Company completed a further placement of $1.1m before costs through the issue of 122,222,222 Placement shares at an issue price of $0.009(“Placement”). Additionally, participants of the Placement were issued one (1) free-attaching SLZO option (exercisable at $0.03 and expiring 12 March 2027) for every two (2) new Placement shares subscribed and issued. Placement securities were issued in two tranches, with 73,380,679 Tranche 1 Placement Shares issued without shareholder approval. Tranche 2 comprised of 48,841,543 Placement Shares, 61,111,111 free attaching SLZO placement options and 30,000,000 SLZO options issued to the lead manager of the Placement. All Tranche 2 securities were issued following shareholder approval at the Company’s 2025 Annual General Meeting. Director Mr. Liu was granted 25,000,000 performance rights, with various expiry dates and market based vesting conditions, following shareholder approval at the Company’s 2025 Annual General Meeting. During the year, the Company was admitted to the OTCID Market, where its shares trade under the symbol SLZRF. The OTCID listing strengthens the Company's presence in the North American investment community by facilitating access for U.S. retail and institutional investors. In addition, the listing enhances the Company's profile among peers in the precious and critical metals exploration sectors and creates further opportunities to engage with investors, industry participants, and potential strategic partners. Financial Performance The financial results of the consolidated entity for the year ended 30 June 2026 and 30 June 2025 are: 30-June-26 30-June-25 $ $ Cash and cash equivalents 1,038,114 81,751 Net assets 5,275,198 4,425,498 Revenue and other income 15,853 30,757 Net loss after tax (1,481,006) (5,469,391) DIVIDENDS No dividend is recommended in respect of the current financial year (2025: nil). Annual Report | 30 June 2026 16 | P a g e Directors’ Report REVIEW OF MATERIAL BUSINESS RISKS There are specific risks associated with the activities of the Group and general risks which are largely beyond the control of the Group and the Directors. The risks identified below, or other risk factors, may have a material impact on the future financial performance of the Group and the market price of the Company’s shares. The Board reviews the risks of the Group and the action plans to address these risks on a regular basis. a) Operating Risks The operations of the Company may be affected by various factors, including failure to locate or identify mineral deposits, failure to achieve predicted grades in exploration and mining, operational and technical difficulties encountered in mining. In addition, difficulties in commissioning and operating plant and equipment include mechanical failure or plant breakdown, unanticipated metallurgical problems which may affect extraction costs, adverse weather conditions, industrial and environmental accidents, health incidents including pandemic diseases like COVID-19 (coronavirus), industrial disputes and unexpected shortages or increases in the costs of consumables, spare parts, plant and equipment. b) Environmental Risks The operations and proposed activities of the Company are subject to the environmental laws and regulations. As with most exploration projects and mining operations, the Company’s activities are expected to have an impact on the environment, particularly if mine development proceeds. It is the Company’s intention to conduct its activities to the highest standard of environmental obligation, including compliance with all environmental laws. c) Economic General economic conditions, movements in interest and inflation rates and currency exchange rates may have an adverse effect on the Company’s exploration, development and production activities, as well as on its ability to fund those activities. d) Market conditions Share market conditions may affect the value of the Company’s quoted securities regardless of the Company’s operating performance. Share market conditions are affected by many factors such as: i) general economic outlook; ii) introduction of tax reform or other new legislation; iii) interest rates and inflation rates; iv) changes in investor sentiment toward particular market sectors; v) the demand for, and supply of, capital; and vi) terrorism or other hostilities. The market price of securities can fall as well as rise and may be subject to varied and unpredictable influences on the market for equities in general and resource exploration stocks in particular. Neither the Company nor the Directors warrant the future performance of the Company or any return on an investment in the Company. e) Additional requirements for capital The Company must have sufficient capital to fund its exploration activities, along with other working capital requirements. At the reporting date it has cash and cash equivalents of approximately $1,038,000. Any additional equity financing will dilute shareholdings, and additional debt financing, if available, may involve restrictions on financing and operating activities. If the Company is unable to obtain additional financing as needed, it may be required to reduce the scope of its operations and scale back its development programmes as the case may be. There is no guarantee that the Company will be able to secure any additional funding or be able to secure funding on terms favourable to the Company. Annual Report