Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director & Company Secretary Clarissa Chua was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 11
Great Eastern Gold Limited completed the acquisition of remaining 37% stake in Golden Ant Mining Pty Ltd from Great Northern Minerals Limited (ASX:GNM). Great Eastern Gold Limited entered into a binding agreement to acquire remaining 37% stake in Golden Ant Mining Pty Ltd from Great Northern Minerals Limited (ASX:GNM) for AUD 2 million on February 5, 2026. A cash consideration of AUD 2 million will be paid by Great Eastern Gold Limited. Upon completion, Great Eastern Gold Limited will own 100% stake in Golden Ant Mining Pty Ltd. As part of the Agreement, GNM has agreed to transfer tenements EPM28249 and EPM28301, which make up part of the NorthX joint venture, to the NorthX Pty Ltd. The proceeds from settlement will be used to continue planned exploration programs at Catalyst Ridge and Douglas Creek, as well as towards exploring other acquisitions or opportunities that will complement GNM’s existing portfolio.
The agreement is only conditional upon Great Northern Minerals and Great Eastern Gold obtaining all necessary third-party consents and approvals to implement the change in ownership.
Great Eastern Gold Limited completed the acquisition of remaining 37% stake in Golden Ant Mining Pty Ltd from Great Northern Minerals Limited (ASX:GNM) on April 10, 2026. GNM has received the AUD 1.9 million required for settlement of the remaining minority interest held in Golden Ant. Announcement • Aug 28
Great Northern Minerals Limited, Annual General Meeting, Oct 22, 2025 Great Northern Minerals Limited, Annual General Meeting, Oct 22, 2025. Announcement • Oct 01
Great Northern Minerals Limited, Annual General Meeting, Nov 20, 2024 Great Northern Minerals Limited, Annual General Meeting, Nov 20, 2024. New Risk • Sep 28
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$1.6m 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$1.6m free cash flow). Share price has been highly volatile over the past 3 months (584% average daily change). Revenue is less than US$1m (AU$68k revenue, or US$47k). Market cap is less than US$10m (€1.43m market cap, or US$1.60m). Announcement • Jan 19
Great Northern Minerals Limited Announces Board Changes Great Northern Minerals Limited announced the resignation of Mr. Donald Garner as a Non-Executive Director of GNM and the appointment of Mr. Steven Formica, effective immediately. After previously acting as Board advisor, Mr. Garner was appointed as a Non-Executive Director on 1 November 2022. Mr. Formica brings extensive management and business development expertise, with over 35 years' experience in several privately held companies across various sectors. Mr. Formica is currently the Non-Executive Chairman of Albion Resources Limited, Non-Executive Chairman of Ragnar Metals Limited, Non-Executive Director of EchoIQ Limited, Bindi Metals Ltd. and a successful investor in a number of ASX listed entities. Announcement • Dec 08
Great Northern Minerals Limited Announces Resignation of Simon Coxhell as Non-Executive Director Great Northern Minerals Limited announced the resignation of Mr. Simon Coxhell as a Non-Executive Director of GNM effective 31 December 2023. Simon was appointed to the GNM Board as an Executive Technical Director in April 2020, and managed GNM's exploration program, including the definition of a 385,000 oz Au resource base at GNM's North Queensland gold assets. Simon transitioned to a Non-Executive Director of GNM in June 2022 and has decided to resign from his current position at GNM to focus on his other business interests, including his role as Managing Director of Blaze Minerals Limited. Announcement • Oct 02
Great Northern Minerals Limited, Annual General Meeting, Nov 21, 2023 Great Northern Minerals Limited, Annual General Meeting, Nov 21, 2023. Agenda: To consider the election of Directors. New Risk • Oct 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 147% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (54% average daily change). Revenue is less than US$1m (AU$49k revenue, or US$32k). Market cap is less than US$10m (€2.26m market cap, or US$2.39m). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (36% increase in shares outstanding). Announcement • May 22
Great Northern Minerals Limited (ASX:GNM) completed the acquisition of Stedle Exploration AB from Stevsand Investments Pty Ltd. Great Northern Minerals Limited (ASX:GNM) entered into an agreement to acquire Stedle Exploration AB from Stevsand Investments Pty Ltd for AUD 0.3 million on April 26, 2023. Under the terms of agreement, Great Northern Minerals agrees to pay cash consideration of AUD 25,000 and fully paid ordinary shares worth AUD 275,000 at a deemed issue price of AUD 0.0025 per share. The transaction is subject to completion of due diligence by Great Northern Minerals on Stedle, Great Northern Minerals exercising the Option, Great Northern Minerals obtaining shareholder approval, both obtaining all necessary regulatory and shareholder approvals, being no breach of the vendor warranties given by Stevsand and the agreement also contains further terms, conditions, warranties and representations considered standard for an agreement of this nature.Great Northern Minerals Limited (ASX:GNM) completed the acquisition of Stedle Exploration AB from Stevsand Investments Pty Ltd on May 22, 2023. Announcement • May 10
Great Northern Minerals Limited, Annual General Meeting, Jun 13, 2023 Great Northern Minerals Limited, Annual General Meeting, Jun 13, 2023, at 11:00 W. Australia Standard Time. Location: Mining Corporate Boardroom, Level 8 216 St Georges Terrace, Perth WA 6000 Perth Western Australia Australia Agenda: to consider re-election of Director Mr Donald Garner; to consider ratification of Prior issue of Consideration Shares; to consider ratification of Prior Issue of Tranche 1 Placement Shares; to consider approval of Share Issue Tranche 2 Placement Shares; to consider approval to issue Placement Options; to consider consolidation of Capital; to consider approval to issue Lead Manager Options; to consider approval to Issue Director Options to Directors Ariel King, Cameron McLean, Simon Coxhell and Donald Garner; to consider approval to issue incentive securities to Aida Tabakovic. Announcement • Feb 02
Great Northern Minerals Limited Announces the Initial RC Drilling Program At Douglas Creek Great Northern Minerals Limited announced that the initial RC drilling program at Douglas Creek has been successfully completed. The twenty hole RC program tested three zones of mineralisation (Zones 1, 2 and 4) and intersected a mineralised low angle structure with widespread disseminated sulphide mineralisation. GNM has also reprocessed historical airborne magnetic data for the Douglas Creek target, and this has highlighted multiple targets, including the presence of a donut style magnetic anomaly (indicative of a porphyry system). GNM has commenced planning on a follow induced polarisation (IP) survey targeting the reprocessed magnetic anomalies, plus the potential depth extensions of the mineralisation intercepted in the recent drilling program. A reverse circulation (RC) percussion drill program was designed to test and define the subsurface nature of the mineralisation at Douglas Creek and the orientation of any containing structure. Three of the anomalous soil and rock targets that produced some of the higher polymetallic geochemistry, namely; Zones 1, 2 and 4, were selected for drill testing. RC percussion drillholes DCRC01-03 were drilled to test Zone 4. These holes intersected a shallow north westerly dipping oxidised horizon from 5 metres containing an increased weight volume % of visiblequartz vein fragments in a pervasive mixed (gossanous) limonite hematite goethite stained and variably sericite + silica altered intrusive host rock mass. A further eleven RC percussion holes were drilled on five cross sections along the Zone 1 target. As per Zone 4, a shallow to moderately south easterly dipping mineralised horizon was intersected of approximate 3 to 5 metres thickness. The down dip drilling intersections displayed an association of increased weight volume % of visible quartz ± epidote ± chlorite veining and accessory pyrite ± chalcopyrite ± arsenopyrite with variable intensity silica + chlorite ± epidote wall rock alteration development within the medium grained equigranular diorite host rock. Six RC percussion holes were drilled on four cross sections over the Zone2 target. As per Zone 1, a shallow south easterly dipping mineralised horizon was intersected of variable 3 to 10 metre thickness. The mineralised horizon was intersected from surface and thus strongly oxidised. A medium-coarsegrained equigranular granodioritic host was intersected with an observable strong pervasive fine white mica (sericite) alteration of feldspar + biotite phenocrysts and groundmass through which a crystalline euhedral quartz ± gossan vein stockwork had variably developed. The drilling intersected a mineralised low angle structure (LAS) with widespread disseminated sulphide mineralisation, with up to 5% visible pyrite and 1% chalcopyrite. The LAS is hosted within medium grained equigranular diorite-tonalite and medium-coarse grained granodioritic intrusions that demonstrates zoned alteration (from potassic to propylitic then phyllic), with a zonation towards phyllic predominant alteration trending north. Material assay results for the Douglas Creek RC drilling program are contained in Table 1. The results returned a variable composite of anomalous Au + Ag + As + Bi + Cu + Pb + Zn ± Wmineralisation associated with mixed sulphides intersected within the LAS. Surface manifestations of this sulphidic LAS had previously returned high grade gold, silver and copper rock chip samples from quartz rich gossanous intrusive outcrop located within the respective soil target anomalies drill tested. The other five soil anomaly target zones that remain untested by drilling, contain similar textural, compositional and geochemical attributes in surface outcrop to target zones 1, 2 and 4. Southern Geoscience Consultants were contracted to re-process open file geophysical data from a 1993airborne magnetics and radiometrics program completed by Kevron Geophysics over the Camel Creek tenements held by Golden Ant Mining (GAM). The reprocessing was completed and the final report was delivered in late December 2022. A review of the reprocessed geophysical data has highlighted the following targets: Southern magnetic anomaly: Central magnetic low `eye' characterised by a core of quartz + feldspar adamellite containing no magnetite-pyrrhotite-pyrite, surrounded by a magnetic high `donut' characterised by porphyritic quartz + feldspar + biotite + magnetite + pyrite bearing granodiorite-diorite. This pattern could represent a less oxidised porphyry system with a central magnetic low surrounded by an annular magnetic high. Soil Pb anomaly target 6 is located within the magnetic eye low. Central magnetic anomaly centred on soil anomaly targets 1, 2, 3, 4 and 5: A broad NNE trending magnetic low signature of dimension 1.5km x 0.5km developed within a surface expression of equigranular quartz + biotite + hornblende + magnetite diorite (reversed polarity?). Potentially an underlying source porphyritic granodiorite system. Contains soil targets 4, 5 and 1. Peripheral to this magnetic low `core' are linear eastern and western magnetic high signatures which are coincident with soil targets 2, 7 and 1. Soil Target 2 is developed over quartz veined, phyllically altered medium- coarse grained granodiorite country rock. Recently defined soil target 8 located near northern margin of central airborne mag low in contact with a significant magnetic high signature: This soil anomaly target is similarly hosted by equigranular quartz + biotite + hornblende + magnetite diorite. Half of this soil anomaly has a reversely polarised magnetic low - high signature. Northern magnetic low anomaly: GNM exploration personnel briefly visited this anomaly area in Nov. 2022 and collected three rock samples, two of which were of crystalline quartz veining, one of which returned highly anomalous molybdenum assays. This magnetic signature comprises a 1km x 0.7km low containing a 0.3km x 0.1km central lower intensity high `eye'. Board Change • Nov 17
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). CEO, MD & Director Cameron McLean is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Oct 25
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). CEO, MD & Director Cameron McLean is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Simon Peters is the most experienced director on the board, commencing their role in 2016. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Recent Insider Transactions • Oct 08
Insider recently sold €144k worth of stock On the 30th of September, Charles Arve sold around 26m shares on-market at roughly €0.0055 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €89k more than they bought in the last 12 months. Board Change • Jul 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Simon Peters was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 29
Full year earnings released - €0.0076 loss per share Over the last 12 months the company has reported total losses of AU$2.72m, with losses widening by 11% from the prior year. 