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Exploration Update: September 2025

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Figure 1. Arabana traditional owners heritage survey on Nilpinna EL7071 has cleared all planned drill targets

Eromanga Basin, South Australia

Eromanga HMS Project

  • 4,000m HMS air-core drilling program to commence in mid-September
  • Drill permits received on time from the SA Department for Energy and Mining (DEM)
  • Heritage clearance survey completed on time by Arabana traditional owners
    – all planned targets approved EL7071, EL7072 and EL6195
  • Drilling to be undertaken on the Nilpinna and Douglas Creek Tenements, see map below
  • Drill contractor secured – McLeod Drilling
  • Altitude’s expert Heavy Mineral Sands (HMS) Consultant, Ian Warland to oversee the two week
    drilling program in the field
Macquarie Arc, NSW

Byrock Copper Gold Project

  • Field work completed on the “the Pipes” prospects which are prospective for Cu-porphyry deposits in a newly interpreted segment of the Macquarie Arc
  • Final data analysis and target ranking to be completed in September
  • NSW Government co-funding drilling grant decision expected by 30 September
  • Technical review panel to decide on a potential November RC drill program

Theseus Copper Gold Project

  • Application ELA6903 has been granted as EL9805 – 100% owned by Altitude Minerals
  • Positive field visit to meet landowners in the area and discuss access agreements
  • Half of the project is subject to a 6-month exclusive Option to purchase the tenements from Rimfire Pacific Mining, subject to DD and ministerial approval for transfer
  • Further technical due diligence was undertaken, including a review of the historical core at the
    NSW Core library, building out a 3D model, and historical data analysis
  • NSW Government co-funding geophysics and drilling grant decision by 30 September
  • Technical merit decision to purchase Rimfire tenements to be determined
Figure 2. Nevada site visit
Project Generation Activity
  • Multiple site visits were recently completed in Nevada, with a focus on epithermal-style gold silver-antimony projects
  • Technical due diligence is ongoing on multiple properties in the USA
  • The Altitude team conducted a site visit to recently staked claims near Delta Junction,
    Alaska, prospective for gold. Our team recovered historical core, which requires reboxing
    before proper review and collected check samples for assay from historical trenching and
    outcrops. Fortunately, we also obtained paper records of nearly all historical exploration that
    were previously thought to be lost. The digitisation of paper records is ongoing. Once the
    check assays are returned, core checked, and the historical review is completed, a technical
    report will be released to the market, and decisions on next steps will be made. This will take
    a few months to complete.
We are pleased to be drill-ready for our very first air-core drill program on our exciting Eromanga Basin HMS Project in South Australia. The opportunity to be the first company to drill test a recently identified exploration space prospective for critical minerals is what green fields exploration is all about. The Company has also moved to stake prospective HMS open ground elsewhere in the Eromanga Basin. This places Altitude with an early mover advantage to build on any success in the upcoming drill program around William Creek on the Nilpinna and Douglas Creek Tenements. More broadly, in NSW and the USA, I am also pleased to see a quality pipeline of potential drill targets emerging and being validated through quality fieldwork. All drill targets will ultimately be ranked against other projects held by Altitude for consideration in determining the best capital allocation across the Company’s projects.
Duncan Chessell
Managing Director
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