Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the Public Report.

In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

Phase I reconnaissance sonic drilling was undertaken at the Mpyupyu West prospect on a nominal 400 mN x 200 mE grid over the interpreted target area. Sonic drilling recovers a continuous column of material from surface, which is extruded into plastic sleeves at the rig.

Under the Company’s HMS sonic drilling standard operating procedure, the full core column is laid out, geologically logged and panned on site by an experienced geologist as drilling proceeds. Panning produces a heavy-mineral concentrate from which a visual estimate of heavy-mineral content is recorded, together with lithology, colour, washability, slimes content, grainsize and sorting.

Drill samples have been submitted for lab assay and not reported in this announcement.

Drilling was undertaken using two track-mounted sonic (vibratory) drill rigs. Holes are drilled vertically from surface and recover a continuous core column through the full weathering profile.

Holes are terminated on intersecting saprock, a rockier unit beneath the weathered saprolite that is not amenable to conventional mineral sands mining and processing.

No core orientation, downhole surveying or diamond drilling was undertaken. Hole depths are shallow and downhole deviation from vertical is considered immaterial.

Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Core recovery is monitored at the rig by comparing the length of recovered core against the drilled interval for each run, and is recorded on the drill log. Sonic drilling is an industry-standard technique for unconsolidated and weathered mineral sands material and generally achieves high recovery.

No relationship between sample recovery and grade has been assessed, as no grades are reported in this announcement.

Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

All core is geologically logged on site over its full length. Logging is both qualitative and quantitative and records lithology, colour, washability, slimes content, grainsize, sorting and a visual estimate of heavy-mineral content following on-site panning.

Core is sub-sampled into standard chip trays which are retained for review by senior geologists and for reference during geological modelling. Core photography and pan concentrate photography are undertaken where practicable.

One hundred per cent of the core drilled to date has been logged. Logging is sufficient to support geological domaining and wireframing of the mineralised horizon, and is not used to support any reported estimate of grade or tonnage.

If core, whether cut or sawn and whether quarter, half or all cores taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second- half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

Core is sub-sampled into chip trays at the rig for logging and reference purposes. No sub-samples have been submitted for laboratory analysis to date.

Composite samples will be selected on the basis of the geological domains defined during logging and wireframing, and submitted for laboratory sink-float assay, per-interval XRF and QEMSCAN analysis. Compositing protocols, sample preparation procedures and associated quality control measures will be reported at the time any assay results are reported.

No sample preparation, sizing, splitting or pulverising has been undertaken for the purposes of this announcement.

The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis include instrument make and model, reading times, calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

No assay results are reported in this announcement and no laboratory analyses have been completed on the Phase I drilling.

Portable XRF (pXRF) readings are taken on core at 0.5 metre intervals as an indicative field tool to assist geological domaining and composite selection. No pXRF results are reported.

Total heavy mineral content will be determined by industry-standard laboratory sink-float assay on geological domain composites. Assay batch preparation and sample export permitting are underway.

The verification of significant intersections by either independent or alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

Geological logging, on-site panning and pXRF domaining are undertaken by experienced geologists and reviewed by the Chief Project Geologist. Logging data is captured digitally at the rig and validated on import to the Company’s geological database.

Four twin holes were drilled during the reporting period by Sonic Rig 2 at locations where Sonic Rig 1 had been unable to penetrate to the basement formation, confirming the stratigraphic profile at those locations.

No assay data has been generated and accordingly no verification of assay data has been undertaken. No adjustment has been made to any primary data.

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine

workings and other locations used in Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

Drill collar locations are recorded using handheld GPS units with a typical horizontal accuracy of approximately ±3 to ±5 metres. The grid system used is WGS84 / UTM Zone 36S.

Collar elevations are derived from handheld GPS and regional digital elevation data. This level of location and topographic control is considered appropriate for a reconnaissance drilling programme in which no drilling Exploration Results are reported. Higher-precision collar and topographic survey will be undertaken prior to any Mineral Resource estimation.

Data spacing for reporting Exploration Results.

Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

Whether sample compositing has been applied.

Phase I drilling is planned on a nominal 400 mN x 200 mE grid, comprising 272 drill holes. As at 06 October 2026, 218 holes had been completed for 2,992 metres, representing approximately 80% of the planned programme.

This spacing is a reconnaissance spacing designed to establish the extent and character of the mineralised saprolite horizon and will be infilled to establish geological and grade continuity appropriate for the estimation of a Mineral Resource under the JORC Code (2012 Edition).

A Phase II resource-definition programme at a nominal 100 mN x 100 mE spacing is planned following completion of Phase I. No sample compositing has been applied.

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

The mineralised saprolite horizon is developed from surface as a broadly flat-lying, laterally extensive blanket. Drill holes are vertical and are therefore oriented approximately perpendicular to the horizon.

No sampling bias arising from the orientation of drilling relative to geological structure is considered to have been introduced. No drilling Exploration Results are reported.

Core is retained in plastic sleeves and chip trays at the drill site and at the Company’s field facility, under the supervision of Company personnel at all times. No third-party handling has occurred.

Composite samples selected for laboratory analysis will be prepared, bagged, numbered and dispatched under the Company’s chain-of-custody procedures. Sample export permitting for laboratory dispatch is currently underway. Chain-of-custody and sample security arrangements will be reported at the time any assay results are reported.

The Company implemented a new HMS sonic drilling standard operating procedure for this programme, under which all samples are panned and logged on site and core is sub-sampled into chip trays. Logging, panning and pXRF procedures are reviewed internally by the Chief Project Geologist.

Geological models are being built progressively as drilling advances so that data quality issues are identified during, rather than after, the programme.

No external audit or review of sampling techniques or data has been undertaken. As no assay data or grade estimates are reported in this announcement, no audit of assay data or grade estimation has been required.

Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

Work is undertaken under exploration licence EL0670/22/R1, which is 100% owned by Chilwa Minerals Africa Limited.

Chilwa Minerals Limited also controls 100% of licence EL0835/25, directly to the south of EL0670/22/R1, through its 100% owned subsidiary Phalombe Minerals.

EL0670/22/R1 and EL0835/25 were issued in September 2025 for 3 and 5 year exploration terms respectively. The licences currently extend to HMS and REE, and the Company has applied to extend the licences to niobium and related minerals. This is the usual practice in Malawi and the application is considered to be administrative.

Academic research into the deposition of the HMS deposits around Lake Chilwa have been undertaken since the 1980’s.

Exploration of the HMS mineralisation in the lake Chilwa area has been undertaken by various government concerns and companies, commencing with Claus Brinkmann between 1991 and 1993 as part of an initiative by the German Government to aid mineral development in Malawi.

In 2014, Tate Minerals (Tate) undertook a desktop review of the work undertaken by Claus Brinkmann and entered into a Joint Venture agreement with Mota-Engil Investments (Malawi) Limited (MEIML) to explore EL 0572/20, an EL that contains the current target area.

The Mpyupyu West target is a heavy mineral sands prospect on the western flank of Mpyupyu Hill in the Lake Chilwa basin, Southern Malawi, immediately west of the Company’s Mpyupyu Dune and Flat deposits.

Phase I reconnaissance sonic drilling through the full weathering profile indicates that mineralisation is hosted in-situ within a deeply weathered saprolite blanket developed over the underlying basement, similar in deposit style to the Kasiya rutile project in central Malawi. In this style, chemically resistant heavy minerals are residually concentrated in place as less stable minerals break down to clay under deep tropical weathering.

Drilling has intersected a consistent sequence of sand, silty sand, sandy clay and free-dig, highly weathered saprolite, with holes terminating on saprock. The mineralised horizon is developed from surface beneath a thin sand cover, averages 7.3 metres in thickness across the holes drilled to date and reaches a maximum of 12 metres.

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

●      easting and northing of the drill hole collar

●      elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar

●      dip and azimuth of the hole

●      downhole length and interception depth

●      hole length.

If the exclusion of this information is justified on the basis that the information is not Material and this

exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. 

No drilling Exploration Results are reported in this announcement and accordingly no drill hole information is tabulated.

As at 06 October 2026, 218 drill holes had been completed at the Mpyupyu West prospect for 2,992 metres, of a planned Phase I programme of 272 holes. Completed and planned collar locations are shown in Figure 1.

Drill hole collar coordinates, depths, orientations and intersections will be reported at the time any Exploration Results are reported.

In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values should be clearly stated.

Not applicable to the drilling. No grades, intercepts or aggregated drilling results are reported in this announcement.

No cutting, capping, top-cutting, length-weighting or metal-equivalent reporting has been applied, as no grade data is reported.

These relationships are particularly important in the reporting of Exploration Results.

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).

Not applicable. No mineralised intercepts are reported.

The thickness figures quoted in this announcement describe the downhole thickness of a logged geological horizon, not a mineralised intercept defined by assay. The horizon is broadly flat-lying and drill holes are vertical, such that downhole thickness approximates true thickness.

Figure 1 shows the Phase I reconnaissance sonic drill plan at Mpyupyu West, including holes completed to 06 October 2026 and planned collar locations on the nominal 400 mN x 200 mE grid.

Figure 2 shows representative W–E geological cross sections through the Mpyupyu West drilling at 8,295,950 mN and 8,297,150 mN, showing the interpreted stratigraphic sequence.

No grade plans are presented, as no drilling Exploration Results are reported. No diagram presents an assayed grade.

This announcement reports the progress of an exploration drilling programme and geological observations made during that programme at the Mpyupyu West prospect.

Portable XRF readings taken on core, and visual heavy-mineral estimates recorded during on-site panning of sonic core, are expressly excluded from this announcement because they are not a measure of total heavy mineral content.

Progress figures for the Company’s wider drilling programme, including the Bimbi Main deposit at 62% complete, are disclosed so that the Mpyupyu West programme is presented in the context of the whole-of-programme position.

Other exploration data, if meaningful and material, should be reported including (but not limited to):

geological observations; geophysical survey results;

geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

The Mpyupyu West programme has been informed by interpreted geophysical data over the Chilwa licence area, including interpreted thorium anomalies, and by the geological setting of the adjacent Mpyupyu Dune and Flat deposits.

Portable XRF analysis is being undertaken on core at 0.5 metre intervals for geological domaining purposes. QEMSCAN analysis of geological domain composites is planned to characterise the mineral assemblage, and bulk density studies are planned on the saprolite horizon. No results from any of this work are reported in this announcement.

No metallurgical testwork, groundwater, geotechnical or deleterious element data is reported for the Mpyupyu West prospect.

The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the main geological

interpretations and future drilling areas, provided this information is not commercially sensitive.

Phase I reconnaissance drilling will continue with both sonic rigs, with completion of the 272-hole programme expected in mid-October 2026. Planned collar locations are shown in Figure 1.

On completion of Phase I, a Phase II resource-definition programme at a nominal 100 mN x 100 mE spacing is planned, informed by the geological wireframes developed during Phase I.

Geological domain composites will be submitted for laboratory sink-float assay and QEMSCAN analysis, and bulk density studies will be undertaken on the saprolite horizon. Assay batch preparation and sample export permitting are underway.

Subject to grant of the adjoining exploration licence application to the west, extensional drilling is planned to test the continuation of the mineralised horizon beyond the current boundary of EL0670/22/R1. Near-surface sampling will also be extended, including 14 additional sample points designed on the lee side of the Mpyupyu dunes.

Resource-definition drilling at the Bimbi Main deposit will resume on completion of the Mpyupyu West Phase I programme.

Further reconnaissance hand panning may be undertaken to extend coverage west and south of the current sample grid as conditions allow. The hand-panning results will be verified by sonic drilling and standard HMS sink-float assay on the planned drill grid.