Announcement • Jul 02

Oracle Power PLC Granted Mining Lease For Northern Zone Gold Project

Oracle Power PLC announced that Mining Lease M25/389, which covers its Northern Zone Gold Project, has now been granted. Northern Zone is located 25km east of Kalgoorlie in Western Australia. The Mining Lease has been granted for a term of 21 years to 01/07/2047 and is renewable thereafter. Major milestone met for funding and development partnership to proceed with Mega Resources Pty Limited. Site clearance application, National Vegetation Clearing Permit due for submission this month. Company now focusing on completing the inputs for the requisite Mine Development and Closure Proposal and its submission to Government. On 30 September 2025, Oracle and Riversgold announced that a Mining and Co-Operation agreement had been signed with MEGA Resources to fully fund operations with the project owners to receive 50% of the profits. The grant of Mining Licence M25/389 is highly significant with respect to meeting a key condition precedent in the MEGA Resources agreement. Riversgold had signed, on the Project Owners' behalf, a Right to Mine and Co-Operation Agreement with established WA Goldfields mining services provider MEGA Resources for full project funding, mining, and haulage services at the Northern Zone Gold Project which is located 25km from Kalgoorlie. MEGA is a full-service mining contractor that will be providing all of the funding for the operation; MEGA will also provide geological and engineering services and manage project approvals. The Northern Zone Gold Project near Kalgoorlie is owned 80% by Riversgold and 20% by Oracle. No upfront funding is required from the Project Owners. MEGA will share profits equally (50/50) from operations with the Project Owners. 10% of the project's profits generated monthly (funded on a 50/50 basis) will be reinvested back into expansion grade control and step out drilling. Northern Zone Gold Project drilling has already identified a gold mineralised porphyry around 600m wide and around 500m deep from diamond drilling. Conditions Precedent: The MEGA agreement is subject to the conversion of P26/2651 into mining lease M25/389, the execution of a formal Mining Services Agreement which will include a schedule of rates and receipt of any third-party approvals.

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