Announcement • 17h

PolarX Reports Exceptional Assay Results From 2026 Diamond Drilling Campaign At Caribou Dome Project

PolarX Limited announced exceptional assay results from the first holes for the 2026 diamond drilling campaign at its hyper-grade Caribou Dome Project, part of the Alaska Range Joint Venture with Northern Star Resources Limited in Alaska. The campaign is fully funded by Northern Star and will be completed by the end of this month with approximately 1,700m of planned drilling remaining. Assays confirm that holes (CD26-004-CD26-007) intersected exceptionally high-grade copper zones. Both holes also targeted deeper mineralization to the north along the boundary of the hanging wall to test historic drill intercepts. These exceptional high-grade assays included: CD26-007: 24.8m @ 9.8% Cu and 14.5g/t Ag from 2.4m, which includes 4.9m @ 13.6% Cu and 20.4g/t Ag from 6.6m; and 4.4m @ 14.1% Cu and 16.9g/t Ag from 11.7m. CD26-004: 22.6m @ 8.1% Cu and 13.5g/t Ag from 3.7m, which includes 5.8m @ 12.4% Cu and 21.3g/t Ag from 11.1m. CD 26-004: 2.5m @ 3.2% Cu and 3.2g/t Ag from 151.7m. CD26-003: 0.3m @ 3.5% Cu and 3.2g/t Ag from 453.7m. CD26-006: 0.9m @ 3.2% Cu and 0.3g/t Ag from 4.3m. The company previously announced that two additional holes drilled at the project, which are approximately 60m west of the existing resource, intersected significant visual copper sulphide mineralization: Hole CD26-009 contains a broad massive/semi massive sulphide zone of 57.5m with significant visible chalcopyrite. Hole CD26-013, intersected five zones of massive and semi massive sulphides, with visible chalcopyrite, totaling 35.4m. Assays are awaited for these new discovery intercepts and are expected later this month. The fully funded 2026 drilling campaign continues, with a further 1,700m of drilling scheduled this season. Caribou Dome has a JORC Resource of 224,375t of contained copper; the nearby Zackly deposit has a JORC Resource of 45,000t of contained copper and 213,000oz of contained gold. Together, Caribou Dome and Zackly make up the Alaska Range project, which is approximately 250km northeast of Anchorage. A year ago, Polar X announced its joint venture with Northern Star whereby Northern Star can earn up to 70% interest in the Alaska Range Project over a five-year period by making a series of annual cash contributions totaling up to USD 39 million. To date PolarX has received USD 11 million, which is being used to fund exploration activities, including the current drill program and MT survey.

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