New Risk • Mar 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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$2.1m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (186% increase in shares outstanding). Revenue is less than US$1m (AU$148k revenue, or US$103k). Market cap is less than US$10m (AU$7.42m market cap, or US$5.16m). New Risk • Mar 14
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$2.1m 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$2.1m free cash flow). Shareholders have been substantially diluted in the past year (186% increase in shares outstanding). Revenue is less than US$1m (AU$136k revenue, or US$95k). Market cap is less than US$10m (AU$10.3m market cap, or US$7.18m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). Announcement • Feb 23
PVW Resources Limited completed the acquisition of Southern Prospecting Pty Ltd. PVW Resources Limited agreed to acquire Southern Prospecting Pty Ltd for AUD 5.8 million on September 17, 2025. The consideration is comprised of AUD 5.6 million in stock and AUD 0.2 million in options. The stock portion consists of 200 million shares of PVW Resources. The options are exercisable at $0.025 each within two years of issue. The consideration securities (shares and options) will be subject to a voluntary escrow, with 25% freely tradeable from completion and the remainder released in three equal tranches at three, six, and twelve months post-completion. As part of the transaction, Southern Prospecting Pty Ltd holds exclusive options to acquire a 100% interest in each of the Cobb Creek Project, the Colorado Gulch Project, and the Silverstar Project. Concurrently, PVW Resources Limited will undertake a placement to raise AUD 2.5 million to fund the transaction and for general working capital.
Upon completion, Martin Walter and William Brown will be appointed to the Board of PVW Resources.
The transaction is subject to customary conditions, including the completion of due diligence, execution of formal contracts, a capital raising by PVW, and approvals from PVW shareholders, third parties and regulatory bodies.
PVW Resources Limited completed the acquisition of Southern Prospecting Pty Ltd on February 23,, 2026. The acquisition was completed following satisfaction of all conditions precedent, including due diligence, shareholder approvals, regulatory approvals and completion of the associated capital raising. On completion, Martin Walter, current Chief Executive Oficer of Southern Prospecting Pty Ltd, has been
appointed as a Non-Executive Director of PVW Resources Limited and Luis Azevedo has resigned as a Non-Executive Director of the Company. The Board considers the appointment of Martine Walter to materially strengthen PVW’s technical and commercial capability in advancing its US gold and silver portfolio. 
