Announcement • May 11
Canyon Resources Limited Provides Update on Minim Martap Bauxite Project Production and Logistics Canyon Resources Limited presented an update on development activities at its Minim Martap Bauxite Project, located in Cameroon, as the Company progresses towards first production and initial shipments. Preparation for tracklaying underway at both Inland Rail Facility and Port of Douala, advancing integrated logistics network. First bauxite shipment from Minim Martap on schedule for late third quarter of 2026 with first production imminent. At Minim Martap the surface miner was mobilised to site at the Daniel Plateau in April, for the commencement of trial mining in mid second quarter of 2026 allowing bauxite stockpiles to be built up at the mine, Inland Rail Facility and port before the first bauxite ore shipment in late third quarter of 2026. Initial production will be a major milestone for the Minim Martap Bauxite Project and coincides with upgrade works on the haul road that connects the Danielle Plateau to the Inland Rail Facility. Tracklaying at the Inland Rail Facility and bulk earthworks at the Port of Douala have commenced in preparation for rail operations to allow storage of bauxite ores at the port prior to the first shipment. The first seven locomotives are expected to arrive at the Port of Douala in late second quarter of 2026 followed by the rail wagons in July 2026 ahead of first shipment of bauxite ore in late September, 2026. Canyon continues to engage with several potential offtake partners, with the Company aiming to finalise agreements following the completion of initial bauxite shipments, allowing Canyon to demonstrate the high grade, high purity of the Minim Martap ore reserve, which comprises of 51% alumina and approximately 2% silica. The Feasibility Study for the proposed value-adding alumina refinery is scheduled to be completed by third quarter of 2026. Ore (DMT) Alumina (Al2O3) Silica (SiO2) Total Ore Reserves1 144.0 51.2% 1.7% Proved 133.3 51.2% 1.7% Probable 10.7 51.8% 1.7% Total Mineral Resources2 1,102 45.3% 2.7% Measured 394 46.8% 2.1% Indicated 502 44.7% 2.9% Inferred 206 44.0% 3.4% (1) Ore Reserves reported as per JORC Code (2) Mineral Resources reported as per JORC Code, at a cut-off grade of 35% Al2O3. Makan & Ngaoundal tenements are included Table 1: Ore Reserves and Mineral Resources - September 2025. Announcement • Apr 14
Canyon Resources Limited Announces Board Changes Canyon Resources Limited announced that Mark Hohnen has transitioned into a Non-Executive Chairman role and Non-Executive Director Scott Phegan has informed the Board of his resignation, effective immediately (April 13, 2026), as he refocuses his priorities on his executive roles. Mr. Phegan was appointed Non-Executive Director in August 2022 and has been a key member of the Company’s leadership team throughout Canyon’s transition into a global bauxite producer. 
