Announcement • Jul 13
Miramar Resources Limited Reports High-Grade Copper-Lead-Silver Results from Chain Pool Miramar Resources Limited received further high-grade results from rock chip sampling completed at the high-grade Joy Helen copper-lead-silver prospect during the recent auger drilling campaign. The Joy Helen prospect is located within Miramar’s 100%-owned Chain Pool Project in the Gascoyne region of Western Australia and contains high-grade Cu-Pb-Ag mineralisation with similarities to Sedimentary Exhalative deposits in Queensland and the Northern Territory. A limited number of rock chip samples were collected during the recent auger drilling campaign. MR0012 and MR0013 were collected almost 200m east of the historic workings and close to an interpreted basin-margin fault highlighted in the recent gravity survey and a copper-in-soil anomaly. MR0013 shows relict textures like the breccia ore observed at the main Joy Helen workings, including weathered iron-carbonate nodules, and contains strongly anomalous Ba. In the halos around large SEDEX deposits like Mount Isa and Abra, Ba values are commonly in the 1000’s of ppm. The high Ba values in the weathered samples indicates that MR0013 could represent a halo to additional SEDEX mineralisation away from the main Joy Helen workings. Further modelling of the detailed gravity data highlights multiple basin-margin faults with similarities to Mount Isa where gravity lows are associated with oxidation along a fault and gravity highs with silica dolomite alteration with contribution from Zn-Pb-Ag mineralization. The strongest residual gravity anomalies at Joy Helen are associated with silicified dolomite at surface. Table 1. Summary of recent rock chip sampling Sample No. Easting Northing Au ppm Ag ppm Ba ppm Cu % Pb % Sb ppm Zn ppm Comments MR0009 374464 7428358 0.024 16.7 2930 6.28 15.5 23 1441 Malachite ore MR0010 374464 7428358 0.053 33.0 2937 2.89 46.5 23 720 Galena ore MR0011 374464 7428358 0.061 47.7 842 6.72 47.8 29 945 Galena-malachite ore MR0012 374744 7428618 BDL BDL 598 0.03 0.29 BDL 14 Silicified dolomite with sulphide pits MR0013 374744 7428618 BDL BDL 5790 0.03 0.19 BDL 13 Weathered breccia BDL – below detection limit. The Company is currently waiting on the results from auger drilling recently completed at the Project and has been advised by the laboratory that results are expected in mid-July. Once all results have been received, the Company will finalise plans for further work programmes including a passive seismic HVSR survey to aid in mapping the basement topography and faulting, and the first dedicated bedrock drilling campaign at the Project. The Joy Helen prospect is hosted in carbonate rocks located adjacent to a major growth fault at the edge of the Edmund Basin with the same zoned carbonate alteration halo with increasing base metal values towards the proximal siderite zone as seen in the typical SEDEX model. The presence of secondary copper and the absence of any appreciable zinc mineralisation at Joy Helen to date is consistent with zonation of mineralisation seen at other SEDEX deposits, where (primary) copper mineralisation forms closer to the vent whilst Pb-Zn mineralisation can be distal and/or deeper. Given the regional setting, the lack of any substantial drilling or any project-scale geophysics, and the information gathered to date, Miramar believes the Joy Helen occurrence could be the tip of the iceberg of a potentially significant SEDEX deposit. The Chain Pool Project is located approximately 275km northeast of Carnarvon, in the Gascoyne region of Western Australia and consists of a single 100%-owned Exploration Licence, E08/3676. The Project straddles the boundary between a Durlacher Supersuite granite, which hosts the Yangibana and YIN REE deposits, and the Edmund Basin, which hosts the high-grade Joy Helen Cu-Pb-Ag occurrence. The Project has been crosscut by later N-S trending dolerite dykes of the 750Ma “Mundine Well Suite” which hosts Ni-Cu-Co-PGE sulphide mineralisation within the “Money Intrusion” further south. A large magnetic and gravity anomaly appears to indicate a buried intrusion that could have been a source of heat and/or fluids for the mineralisation at Joy Helen. Miramar applied for E08/3676 in December 2023, and it was granted in August 2024. Initial reconnaissance rock chip sampling around the Joy Helen workings in July 2024, prior to the grant of the tenement, returned several high-grade Cu-Pb-Ag results. Subsequent rock chip sampling confirmed and extended the known mineralisation. The Project has potential for various styles of mineralisation including: SEDEX Pb-Zn-Ag mineralisation hosted in the Irregully Formation; Carbonate-hosted “Mississippi Valley Type” (MVT) Pb-Zn mineralisation; and Mafic intrusion-hosted magmatic Ni-Cu-Co-PGE sulphide mineralisation hosted in dolerite dykes of the 755Ma Mundine Well Suite. New Risk • Mar 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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$2.8m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (231% increase in shares outstanding). Revenue is less than US$1m (AU$649 revenue, or US$456). Market cap is less than US$10m (AU$4.53m market cap, or US$3.18m). Announcement • Jan 23
Miramar Resources Limited Announces Change in Role of Marion Bush from Technical Director to Managing Director Miramar Resources Limited advised that it has completed a restructure of the Company's Board to support further growth and development as it enters 2026. Ms. Marion Bush will move from Technical Director to the new position of Managing Director and will be responsible for all facets of the management of the Company. Marion has held the position of Technical Director since the Company listed in 2020 and has an in-depth understanding of the Company's project portfolio, as well as previous operational, investor markets and market analysis expertise. Marion is a geologist with over 25 years' experience in management, directorship, commercial management, analysis and marketing roles within the UK, Australia and West Africa. She was formerly the CEO of TSX-V listed Cassidy Gold Corp, which developed a gold asset in West Africa, and a former Mining Analyst all of which enable her with the skills, knowledge, expertise and capability to lead the Company as Managing Director. 
