Announcement • Jun 12
Prodigy Gold NL Receives AUD 112,152 In Co-Funding Under Northern Territory Government Geophysics And Drilling Collaborations Program Prodigy Gold NL attended the Northern Territory Minister’s for Mining and Energy announcement of the results of the Round 19 Resourcing the Territory Exploration Grants. The company was successful in receiving a grant of AUD 112,152 (inclusive GST) in co-funding under the Northern Territory Government's Round 19 Geophysics and Drilling Collaborations Program (GDCP) to undertake a deep diamond drilling program at the company's flagship Hyperion Gold Deposit within the Tanami North Project. The funded program comprises a single 600m HQ diamond drill hole (HYDD26001) targeting a large chargeability anomaly identified during Prodigy's 2025 dipole-dipole IP survey. A record AUD 4 million in co-funding has been awarded to 34 projects from 26 companies across the Northern Territory. Funding for Hyperion will support a 600m HQ diamond drill hole targeting a large untested deep IP chargeability anomaly south of the Hyperion Gold Resource identified during the 2025 dipole-dipole IP survey. The target lies approximately 150–250m south of the current Hyperion Mineral Resource of 9.8Mt @ 1.4g/t Au for 454,000 ounces. The drill hole is designed to test for a potential sulphide-rich extension to the Hyperion-Tethys-Seuss mineralised system. Drilling is scheduled to commence during the September Quarter 2026. The proposed hole will test a largely unexplored portion of the Hyperion mineral system and evaluate the potential for the deposit to extend into a broader mineralised corridor at depth. The grant enables Prodigy Gold to directly test a compelling geophysical target generated from the successful 2025 dipole-dipole IP survey, which identified a large chargeability anomaly extending beneath and south of the current resource position. The target was generated from the company's successful 2025 dipole-dipole induced polarisation survey completed across the Hyperion-Tethys-Seuss corridor. The anomaly occurs within a favourable structural setting adjacent to the Hyperion South lode and coincides with interpreted extensions of the mineralised corridor, providing a compelling target for deep diamond drilling. The co-funding allows Prodigy to accelerate exploration on one of the most prospective gold projects in the Tanami Region. Prodigy Gold has been awarded AUD 112,152 (inclusive of GST) in co-funding under Round 19 of the Northern Territory Government's Geophysics and Drilling Collaborations Program, funded through the Resourcing the Territory program. The grant will support a deep diamond drilling program designed to test a significant induced polarisation (IP) chargeability anomaly identified during the company's 2025 dipole-dipole IP survey at the Hyperion Gold Deposit. The proposed program comprises a single 600m HQ diamond drill hole (HYDD26001) targeting a large, coherent chargeability anomaly located immediately south of the current Hyperion Mineral Resource. The anomaly remains completely untested by drilling and occurs within a favourable structural setting adjacent to the Hyperion South lode and interpreted extensions of the Hyperion-Tethys-Seuss mineralised corridor. The target was generated following Prodigy's successful 2025 exploration programs, which included RC drilling, diamond drilling and IP geophysical surveys. The planned diamond drill hole will provide critical geological information through the collection of oriented drill core, enabling detailed assessment of lithology, alteration, structural architecture, vein systems and sulphide distribution. The program will also directly test the source of the IP anomaly and determine whether it represents a concealed extension of the Hyperion mineral system. The drilling will complement Prodigy Gold's ongoing CSIRO-supported research and development study into the structural, mineralogical and geochemical controls on gold mineralisation at Hyperion. Results from the program are expected to significantly improve the geological model and targeting framework for the broader Hyperion-Tethys-Seuss corridor, while providing a direct test of a target with the potential to materially expand the existing 454,000 ounce Hyperion Gold Mineral Resource. The 2025 diamond drilling program further demonstrated the potential for mineralisation at depth, returning results including 2m @ 17.8g/t Au from 234m in hole HYRCD250028 and recording the first visible gold occurrence observed at Hyperion. These results reinforce the interpretation that the Hyperion mineral system remains fertile at depth and may continue beyond the limits of current drilling. The company's 2025 dipole-dipole IP survey identified a large, coherent chargeability anomaly immediately south of the existing Hyperion Mineral Resource. The anomaly occurs within a favourable structural setting adjacent to the Hyperion South lode and remains completely untested by drilling. The newly awarded Northern Territory Government co-funded drill hole HYDD26001 has been designed specifically to test this anomaly and determine whether it represents a sulphide-rich extension of the Hyperion gold system. Success from the proposed drilling program has the potential to materially expand the known mineralised footprint of Hyperion and establish a broader mineralised corridor potentially comparable to other major Tanami gold deposits. New Risk • Mar 06
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$4.6m 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$4.6m free cash flow). Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Revenue is less than US$1m (AU$36k revenue, or US$25k). Minor Risk Market cap is less than US$100m (AU$21.6m market cap, or US$15.1m). 
