Announcement • Jan 14

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Norfolk Metals Limited Announces Carmarm Copper Project Receives Final Assays from Carmen Copper Project Maiden Drill Campaign Confirming Sulphide Mineralisation Open At Depth

Norfolk Metals Limited announced final assays received from Carmen Copper Project Maiden Drill Campaign confirming sulphide mineralisation open at depth. Final results for the 6 remaining RC drill holes have been received which successfully completes Phase #1 of the Maiden Drilling Campaign. These recently received assays from CCRC-25-033 and CCRC-25-034 have confirmed the presence of higher grade primary Cu Sulphide mineralisation within the Carmen Main area and remains open at depth. Approximately 1,000m of historical DDH core displaying mineralisation has been quarter-cut and submitted for assay analysis with results expected in the coming weeks. This mineralised core will assist in the Company's ability to evaluate results alongside historical assays with the potential to model and report a JORC compliant resource in the future. Phase #1 of the MaidenDrilling Campaign has been completed consisting of 37 RC holes drilled totalling 3,401m. The results of the higher grade intersections from the drill program have been summarised below. Rock chip and panel sampling assay results over the shallow copper workings have been received and illustrated below. The assay results are strongly anomalous with up to 1.4% Cu. Mapping and geochemical soil sampling along the Higueritas Belt have been planned to define other drill targets for the next drilling campaigns. to drill down to 200-250m to test the IP anomaly. CuEq values were used for internal geological interpretation only and are not reported. All RC sampling has been done on 1m sample intervals consistently throughout the drill campaign. The relationships are particularly important in the reporting of Exploration Results., If the geometry of the mineralization with respect to the drill hole angle is known, its nature should be reported., NFL 2025 Reverse Circulation (RC) Drilling Phase#1: The oxidized /enriched copper horizon at Carmen forms a blanket which extends from surface to a vertical depth of around 30-45m. Cu Oxide mineralization appears to be forming what could be called a "manto" or blanket higher is section above the Cu sulphide mineralisation and restricted to widths of the structures and the corresponding selvages of these fault structures. The main CT Thrust and associated other NE/SW striking structures dip steeply to the northwest, but smaller NNW to NNE trending, and locally east dipping structures also host the vein-style mineralisation in the Carmen Main workings. More than 90% of the RC Drilling completed during Phase #1 of drilling has been drilled orthogonal (ie: azimuth 130deg/-60deg dip) to northwest dipping mineralized structures and associated mineralized host rocks, resulting in intercepts considered very near true widths., No sampling bias due to drill orientation is expected., Not applicable to the rock chip sampling as no drilling was undertaken as part of the rock chip sampling., Diagrams, Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include but not be limited to a plan view of drill hole collar locations and appropriate sectional views., NFL 2025 Reverse Circulation ("RC) Drilling Phase #1: Location plans for the prospects and completed drill holes are provided in this report., Criteria, JORC Code Explanation, Commentary, Balanced reporting, Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. All available higher grade intersection results from RC Phase#1 drilling are provided in Table 4 and is considered balanced., Both higher grade sulphide intercepts as well as lower grade intercepts from RC Phase#1 drilling were reported based on the significance of the mineralization intercepted. Other substantive exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; geophysical survey results; bulk samples - size and method of the geochemical survey results; bulk samples -sized and method of treatment; metallurgical test results; metallurgical test results.

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Norfolk Metals Limited Announces Carmarm Copper Project Receives Final Assays from Carmen Copper Project Maiden Drill Campaign Confirming Sulphide Mineralisation Open At Depth

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