Highlights

• AAR trading at A$0.21 as of 18 March 2026.
• Mandilla Gold Project 70km south of Kalgoorlie hosts 42 million tonne resource at 1.1g/t Au for 1.43 million ounces of gold in prolific WA goldfields
• Definitive Feasibility Study due June 2026 quarter will validate 100,000 ounce annual production target with independently assessed project economics
• A$65 million capital raise secured provides full funding for development through production achievement with early-works already commenced on site
• Market capitalization of A$369.21M reflects substantial discount to peer valuations on potential ounces basis, suggesting significant upside from development success

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