Announcement • Jul 08
Lefroy Exploration Limited Announces Appointment of James Knowles as Independent Non-Executive Director, Effective July 7, 2026 Lefroy Exploration Limited announced the appointment of Mr. James Knowles as an independent Non-Executive Director of the Company, Effective 7 July 2026. Mr. Knowles is a geologist with over 27 years' experience across the mining industry, including roles in technical strategy, exploration, resource evaluation, Mineral Resource estimation, project development, operational geology, technical and financial due diligence and mineral asset valuation. He has worked across a broad range of commodities, including gold, copper, iron ore, coal, lithium, battery metals and critical minerals, throughout Australia and internationally. Mr. Knowles is the founder and Technical Director of Measured Group, a mining consultancy providing technical, advisory and public reporting services. He is also Executive Chairman of High Peak Royalties Limited and a Non-Executive Director of Emu NL. He holds a Bachelor of Science (Geology) from the University of Sydney and is a Competent Person under the JORC Code. His expertise spans project development and evaluation, technical and financial due diligence, mineral asset valuation and strategic advisory, supporting projects from early-stage exploration and discovery through to resource definition, project development, operations and transactions. New Risk • Jun 23
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 13% 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 Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$31.3m market cap, or US$21.8m). New Risk • Feb 23
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 13% 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$3.4m free cash flow). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m (AU$1.0k revenue, or US$707). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$67.4m market cap, or US$47.7m). 
