New Risk • May 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$57m free cash flow). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Announcement • May 11
Canyon Resources Limited Provides Update on Minim Martap Bauxite Project Production and Logistics Canyon Resources Limited presented an update on development activities at its Minim Martap Bauxite Project, located in Cameroon, as the Company progresses towards first production and initial shipments. Preparation for tracklaying underway at both Inland Rail Facility and Port of Douala, advancing integrated logistics network. First bauxite shipment from Minim Martap on schedule for late third quarter of 2026 with first production imminent. At Minim Martap the surface miner was mobilised to site at the Daniel Plateau in April, for the commencement of trial mining in mid second quarter of 2026 allowing bauxite stockpiles to be built up at the mine, Inland Rail Facility and port before the first bauxite ore shipment in late third quarter of 2026. Initial production will be a major milestone for the Minim Martap Bauxite Project and coincides with upgrade works on the haul road that connects the Danielle Plateau to the Inland Rail Facility. Tracklaying at the Inland Rail Facility and bulk earthworks at the Port of Douala have commenced in preparation for rail operations to allow storage of bauxite ores at the port prior to the first shipment. The first seven locomotives are expected to arrive at the Port of Douala in late second quarter of 2026 followed by the rail wagons in July 2026 ahead of first shipment of bauxite ore in late September, 2026. Canyon continues to engage with several potential offtake partners, with the Company aiming to finalise agreements following the completion of initial bauxite shipments, allowing Canyon to demonstrate the high grade, high purity of the Minim Martap ore reserve, which comprises of 51% alumina and approximately 2% silica. The Feasibility Study for the proposed value-adding alumina refinery is scheduled to be completed by third quarter of 2026. Ore (DMT) Alumina (Al2O3) Silica (SiO2) Total Ore Reserves1 144.0 51.2% 1.7% Proved 133.3 51.2% 1.7% Probable 10.7 51.8% 1.7% Total Mineral Resources2 1,102 45.3% 2.7% Measured 394 46.8% 2.1% Indicated 502 44.7% 2.9% Inferred 206 44.0% 3.4% (1) Ore Reserves reported as per JORC Code (2) Mineral Resources reported as per JORC Code, at a cut-off grade of 35% Al2O3. Makan & Ngaoundal tenements are included Table 1: Ore Reserves and Mineral Resources - September 2025. Announcement • Apr 14
Canyon Resources Limited Announces Resignation of CEO Peter Secker Canyon Resources Limited announced that Chief Executive Officer, Peter Secker, has tendered his resignation from the Company for personal reasons. He will remain in his role over the coming months to lead Canyon through the critical transition to production at Minim Martap, ensuring continuity and momentum ahead of a successor being appointed. Mr. Secker has also agreed to remain available for an additional period, if required, to assist with the executive recruitment process and ensure operations continue as scheduled. 
