Announcement • May 28

GreenX Metals Limited Announces Exploration Target At Tannenberg Copper Project in Germany

GreenX Metals Limited announced an Exploration Target at the Tannenberg Copper Project in Germany. The estimated range of potential mineralisation in the Exploration Target is 144 - 279 Mt at 0.9% - 1.4% Cu and 15 - 21 g/t Ag for 1.3 - 3.9 Mt Cu and 69 - 188 Moz Ag. The Exploration Target captures hanging wall and footwall mineralisation above and below the Kupferschiefer shale. The Exploration Target builds on the 1940 National Socialist historical estimate area, the 1984 St Joe historical estimate, validation via resampling and logging of 1980's core by GreenX and digitised archive material collected since August 2024. The Exploration Target provides a modern view of the copper potential at Tannenberg. Unlike the 1940 Historical Estimate, which assessed only the thin Kupferschiefer shale horizon, the Exploration Target captures mineralisation in the hanging wall above and footwall below the shale. The Tannenberg Project has a long-documented history of drilling, mining, and estimation work, providing well-defined and historically validated copper-silver mineralisation that underpins today's Exploration Target. A 95-hole drilling campaign was completed by the National Socialist Government between 1935 and 1938 across the Richelsdorf Mining District. The 1940 historical estimate, produced by Mansfeldsche Kupferschieferbergbau AG, is based on a spatially relevant subset of 18 holes from the 95-hole database and established 728,000 tonnes of contained copper at an average grade of 2.6% copper (in the narrow Kupferschiefer shale only) between the Wolfsberg and Schnepfenbusch mines in the north and the Ronshausen area in the south. A later historical estimate from 1984 was produced by St Joe Explorations GmbH, based on limited drilling between 1980 and 1984. The St Joe historical work estimated 169,000 tonnes of contained copper and 6.5 million ounces of contained silver within the small section of zone 3. St Joe assayed wider intersections and found that the mineralisation was up to 3.45 m thick. The modern understanding of the Kupferschiefer deposit model, as evidenced at KGHM's Polish mining operations on the same geological setting as Tannenberg, shows that up to 95% of mineable copper can be hosted in the footwall sandstone and hanging wall limestone, with mineralisation often occurring up to 30 m above and 60 m below the Kupferschiefer shale horizon. Applying the thick mineralisation concept to the historically defined Tannenberg footprint produces a statistically-derived mineralised thickness of 1.7 m - 3.3 m, compared with the 20 cm - 60 cm (shale-only) thickness used in the 1940 historical estimate. The 1.7 m - 3.3 m thickness is consistent with the wider intercepts confirmed by St Joe in the 1980s and has now been independently validated by GreenX's resampling of available archived core. After relogging a total of 4,389 m of archived core and taking 2,368 new samples, GreenX has now brought its work on the archived core to a close. This new logging and sampling has been conducted in accordance with industry standard practices and has facilitated the estimation of the Exploration Target ranges. The data has demonstrated that the copper and silver mineralisation persists many kilometres away from the historical copper mines. GreenX is advancing a coordinated suite of exploration activities which will test the validity of the Exploration Target identified at Tannenberg, including mineralogical and desktop metallurgical analysis of material collected from archive core in the Second Quarter 2026, accessing historical underground mines for scoping study-level metallurgical test work, chip sampling, as well as mapping and surveying for 3D modelling in the second half of 2026, collation and digitisation of historical geological, mine development, and production data ongoing, analysis of the use of seismic surveys to aid future drilling campaigns including collecting petrophysical measurements for seismic forward modelling in the Second Quarter 2026, seismic survey, if appropriate, commencement in the second half of 2026, and initial drill program commencement late 2026. GreenX logged, sampled, and assayed available archive core at Tannenberg. The 1930s National Socialist drillhole database was compiled by GreenX geologists, transcribed from hard copy, historical records. Data validation was undertaken during the import routine in the form of correcting issues such as from/to errors and preparing the data in a format that can readily be imported into three-dimensional modelling software. A geological model was constructed in Leapfrog Geo. Four stratigraphic units, namely the Basement, Rotliegend, Zechstein and Buntsandstein were modelled. Due its narrowness and the lateral scale of the model, which spans several kilometres, the Kupferschiefer layer was modelled only as the contact between the Rotliegend and Zechstein. Displacement by faulting is data driven, where the relative position of the stratigraphic units on either side of the fault determines the vertical displacement. A conceptual mineralisation model was constructed from the drillhole data using a threshold value of 0.30 % Cu. In addition to the grade threshold, a minimum thickness of 1.5 m was applied during the modelling process, based on regulation and practise at copper mines in Poland. Due to the sampling bias in the National Socialist dataset, only data generated from 1980s era drilling was used to constrain the thickness of the mineralisation model. The National Socialist data was used to infer lateral continuity of the mineralisation. In order to not overstate tonnages, the mineralisation was truncated against the modelled faults, extrapolated no more than 500 metres beyond the data and limited within the Tannenberg license boundary. Mined out areas were discounted from the mineralisation model. Three areas were considered, a larger area to the southwest, Zone 3, where the model is informed by a combination of Archive and National Socialist data and two smaller areas across fault boundaries towards the northeast, Zone 1 and Zone 2. Zone 3 has an areal extent of approximately 6 km by 3.5 km. The mineralisation thins out towards the southwest and northwest where drillholes tend to have low-grade copper intercepts that do not meet the minimum thickness criteria, therefore being excluded from the model. Towards the northeast, the mineralisation terminates against a northwest-southeast running fault. Zone 2 is located adjacent to Zone 3 on the northeast side of the bounding fault, with an extent of 3.1 km in the northwest to southeast direction and 2.8 km in the northeast direction. Zone 1 is narrow, bound by two parallel faults and has an areal extent of 1.8 km by 900 m. Both Zones 1 and 2 have been restricted in extent from known mined out areas to the north.

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