Announcement • May 26

Asiamet Resources Limited Reports Updated Mineral Resource Estimate for the BKZ Polymetallic Deposit Located on the 100% Owned KSK Contract of Work in Central Kalimantan, Indonesia

Asiamet Resources Limited reported an updated Mineral Resource Estimate (MRE) for the BKZ Polymetallic (BKZ) deposit located on the 100% owned KSK Contract of Work (CoW) in Central Kalimantan, Indonesia. The modest 8,630 metre drilling program completed in late 2021 - early 2022 has resulted in significant increases in the 2022 reported Mineral Resources over those reported in 2018. The Mineral Resource Estimate (MRE) for BKZ is divided into the Upper Polymetallic Zone (UPZ) and Lower Copper Zone (LCZ). Highlights: 50% increase in contained Zincin the UPZ (2022 MRE: 90kt contained zinc, 2018 MRE: 60kt zinc at a 4% zinc cut-off grade) Upper Polymetallic Zone (UPZ) Inferred Resources comprise: · 1,050kt @ 8.6% Zinc, 3.5% Lead, 62g/t Silver and 0.31g/t Gold containing 90kt Zinc, 37kt Lead, 2,076koz Silver and 10.5koz Gold at a 4% Zinc cut-off grade; and · An additional 600kt @ 1.5% Zinc, 0.4% Lead, 15g/t Silver and 0.21g/t Gold containing 9kt Zinc, 2kt Lead, 295koz Silver and 4.1koz Gold at a 1% Zinc cut-off grade · 75% increase in contained Copperin the LCZ (2022 MRE: 21kt copper, 2018 MRE: 12kt copper at a 0.5% copper cut-off grade) Lower Copper Zone (LCZ) Inferred Resources comprise: 1,600kt @ 1.3% Copper, 17g/t Silver and 0.14g/t Gold containing 21kt Copper, 895kt Silver and 7.2koz Gold at a 0.5% cut-off grade · Drilling outside current UPZ and LCZ Resource confirms mineralisation remains open for further resource growth. The UPZ remains open to the north and east with outcrop to the west, while the LCZ remains open at depth. Exploration Targets are as follows: UPZ Exploration Target: 250,000 to 1,500,000 tonnes @ 6-9% Zn and 3-5% Pb · LCZ Exploration Target: 100,000 to 150,000 tonnes @ 1.0-1.5% Cu and 20-50g/t Ag · Potential for 100-220koz Gold and 10-20Moz Silver to be converted from Exploration Target to Resourcewith additional drilling and metallurgical test work. · Upper Gold-Silver Exploration Target 3.0-3.8Mt @ 1.0-1.5 g/t Au and 100-150 g/t Ag · Lower Gold-Silver Exploration Target 1.0-1.5Mt @ 0.4- 0.7 g/t Au and 20-40 g/t Ag The Exploration Target at BKZ refers to the areas outside of the BKZ Mineral Resources. The reported potential quantity and grade of the targets are conceptual in nature. There has been insufficient exploration and evaluation to estimate a Mineral Resource for these targets and it is uncertain if further evaluation will result in the estimation of a Mineral Resource in the target areas. The Exploration Target has been prepared and reported in accordance JORC Code (2012). 2021-2022 Resource Extension Drill Program: The 2021-22 drilling extended the UPZ mineralised domain approximately 50 metres to the east for approximately 75% of the strike extent defined in the 2018 MRE domains as well as thickening of the mineralisation in the eastern portions of the domain. The LCZ mineralised domain was extended to the east and north from the domains utilised in the 2018 Resource Estimate (figure 1 below). For the Inferred Resource the drill spacing is predominately less than 50 metres intervals. Drilling at LCZ intercepted higher grade copper mineralisation which contributed to an increase in the copper grades reported in 2022 over those reported in 2018. In addition to the Inferred Resources above, modelling of mineralisation intersected in drill holes outside the boundary of the Inferred Resource has outlined the following Exploration Targets (in accordance with the requirements of the JORC Code (2012): · Base Metals Exploration Target outside the existing Inferred Resource at BKZ is defined by 15 drill intercepts at >50 metre spacing and located peripheral to the UPZ and LCZ Mineral Resources. The Exploration Target for UPZ and LCZ are approximated as follows: · Zinc-Lead (UPZ) Exploration Target: 250,000 to 1,500,000 tonnes @ 6-9% Zn & 3-5% Pb · Lower Copper (LCZ) Exploration Target: 100,000 to 150,000 tonnes @ 1.0-1.5% Cu & 20-50g/t Ag · Gold and Silver Exploration Target at BKZ ("Precious Metal" mineralisation), is defined by 161 drill intercepts, mostly at >50 metre spacing, and in two volumes, one located peripheral and to the east of the LCZ and the second located below a footwall diorite sill to the LCZ. The Exploration Target is at 100-300 metres below surface and occurs over 300 metres of prospective strike length. This zone remains open laterally and at depth. The Exploration Target for the gold-silver zones are as follows: · Upper Gold Silver Exploration Target 3.0-3.8Mt @ 1.0-1.5 g/t Au & 100-150 g/t Ag · Lower Gold Silver Exploration Target 1.0-1.5Mt @ 0.4- 0.7 g/t Au & 20-40 g/t Ag The Exploration Target at BKZ refers to the areas outside of the BKZ Mineral Resources. The reported potential quantity and grade of the targets are conceptual in nature. There has been insufficient exploration and evaluation to estimate a Mineral Resource for these targets and it is uncertain if further evaluation will result in the estimation of a Mineral Resource in the target areas. The Company intends to test the Exploration Target zones with drilling and associated metallurgical test work, and this work program is expected to extend over the next 12-24 months. The 2022 Resource model covers 350 metres of the North-South strike extent of the mineralisation at BKZ and up to 175 metres of width and depth extent of the semi-massive sulphide and sulphide rich silicified volcanic hosted mineralisation. The UPZ mineralisation is open to the north and east and outcrops to the west, while the LCZ remains open at depth in the central area of BKZ. Up to 400 metres of depth extension and/or repetition potential of mineralisation has been tested. Gold-silver mineralisation intersected below a diorite sill, however this depth extension has not been fully tested. Areas immediately below mineralisation and volumes to the north, south and west still considered prospective. The BKZ, UPZ and LCZ resource model is defined and underpinned by data from 72 diamond drill holes (11,427 metres) containing 6,278 metres logged and assayed, mainly 1 metre intervals. Sample data was composited to two metre intervals and flagged by the domains defined in the geological and mineralisation interpretations. Single and double passes of Inverse Distance Squared interpolation runs were employed to estimate Cu, Zn, Pb, Ag and Au grades within domains into a sub-blocked model (parent block size of 25mE x 25mN x 10mRL).

CEO salary percentage	n/a
CEO tenure	4.1yrs
CEO ownership	n/a
Management average tenure	7.9yrs
Board average tenure	7yrs

Name	Position	Tenure	Compensation	Ownership
Antony Manini	Executive Chairman	11.5yrs	US$117.37k	2.16% £ 1.2m
Darryn McClelland	Chief Executive Officer	4.1yrs	no data	no data
Leonard Aurlianus	Chief Financial Officer	5.8yrs	no data	no data
Gerald Cheyne	Director of Corporate Development	no data	US$132.77k	no data
Zsa Yusharyahya	Executive Vice President of External Relations	7.9yrs	no data	no data
Mudit Goenka	Head of Corporate Finance	1.7yrs	no data	no data
Sam Quinn	Corporate Secretary	8.8yrs	no data	no data
Mansur Geiger	Vice President of Indonesia	11.5yrs	US$195.74k	no data
Stephen Hughes	Consultant & Advisor	8.2yrs	US$139.66k	no data

Name	Position	Tenure	Compensation	Ownership
Antony Manini	Executive Chairman	11.5yrs	US$117.37k	2.16% £ 1.2m
Dominic Heaton	Independent Non-Executive Director	8.1yrs	US$45.00k	0.45% £ 240.3k
Matthew Doube	Independent Non-Executive Director	2.8yrs	US$40.00k	0.018% £ 9.7k
Eva Djauhari	Independent Non-Executive Director	5.2yrs	US$40.00k	0.50% £ 267.8k
Feng Sheng	Independent Non-Executive Director	7yrs	US$35.00k	4.34% £ 2.3m

Data	Last Updated (UTC time)
Company Analysis	2026/07/06 03:43
End of Day Share Price	2026/07/03 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Richard Hatch	Berenberg
Benjamin Davis	Panmure Liberum

Asiamet Resources Management

Management criteria checks 2/4

Key information

Recent management updates

Executive Chairman recently bought UK£221k worth of stock

Independent Non-Executive Director recently bought UK£119k worth of stock

Asiamet Resources Limited, Annual General Meeting, Dec 09, 2025

Asiamet Resources Limited Announces Executive Changes

Less than half of directors are independent

Asiamet Resources Limited, Annual General Meeting, Jun 26, 2024

Recent updates

New major risk - Revenue and earnings growth

New minor risk - Financial data availability

New minor risk - Insider selling

Executive Chairman recently bought UK£221k worth of stock

Independent Non-Executive Director recently bought UK£119k worth of stock

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New minor risk - Shareholder dilution

Asiamet Resources Limited has filed a Follow-on Equity Offering in the amount of £1.892133 million.

Asiamet Resources Limited Announces an Update to the Ore Reserve Estimate for Its 100% Owned BKM Stage 1 Copper Project

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New minor risk - Financial data availability

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New major risk - Shareholder dilution

New minor risk - Share price stability

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New major risk - Revenue and earnings growth

Less than half of directors are independent

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New minor risk - Shareholder dilution

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Asiamet Resources Limited Reports Positive Results Flow from Recent Optimisation Work Completed for the BKM Heap Leach Project in Central Kalimantan, Indonesia

Will Asiamet Resources (LON:ARS) Spend Its Cash Wisely?

Asiamet Resources Limited Reports the Results of Recent Drill Samples Collected During Due Due Dilence Site Visitors to the BKM Project Area in Central Kalimantan, Indonesia

New minor risk - Financial data availability

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Asiamet Resources Limited Announces BKM Project Engineering Design and Execution Update

Asiamet Resources Limited announced that it expects to receive £3.302019 million in funding from PT Delta Dunia Makmur Tbk

Asiamet Resources Limited Announces Board Changes

Asiamet Resources Limited Announces Board Changes

Will Asiamet Resources (LON:ARS) Spend Its Cash Wisely?

Asiamet Resources Limited, Annual General Meeting, Jun 13, 2023

Asiamet Resources Limited Announces an Update to the Ore Reserve Estimate ("Ore") for Its 100% Owned Bkm Project, Located in Central Kalimantan, Indonesia

Here's Why We're Watching Asiamet Resources' (LON:ARS) Cash Burn Situation

Asiamet Resources Limited Provides Update on Recent Works Undertaken to Finalise Various Components of the Feasibility Study Update for the Bkm Copper Project, Located in Central Kalimantan, Indonesia

Here's Why We're Watching Asiamet Resources' (LON:ARS) Cash Burn Situation

Here's Why We're Watching Asiamet Resources' (LON:ARS) Cash Burn Situation

Asiamet Resources Limited, Annual General Meeting, Jul 13, 2022

Asiamet Resources Limited Reports Updated Mineral Resource Estimate for the BKZ Polymetallic Deposit Located on the 100% Owned KSK Contract of Work in Central Kalimantan, Indonesia

Asiamet Resources Limited Announces Stunning High Grade Drill Results Expand BKZ

Asiamet Resources Limited Announces High Grade Results Extend Gold-Silver Zone At BKZ

Asiamet Resources Limited Announces Further Strong Results from Recent Drilling Completed as Part of the Company's 2021 Resource Extension Program at the BKZ Deposit Located on Its Ksk Contract of Work in Central Kalimantan, Indonesia

Companies Like Asiamet Resources (LON:ARS) Can Afford To Invest In Growth

Price target decreased to UK£0.05

Asiamet Resources Limited Announces Business Update on BKM Copper Project

Asiamet Resources Limited has completed a Follow-on Equity Offering in the amount of £9.7 million.

Asiamet Resources Limited Announces Deal Update – Sale Process

Asiamet Resources Limited Receives Approval for the BKM Copper Project Development, Located in Central Kalimantan, Indonesia

Here's Why We're Watching Asiamet Resources' (LON:ARS) Cash Burn Situation

PT Wasesa Indo Nusa entered into a non-binding heads of agreement to acquire Kalimantan Surya Kencana Contract of Work from Asiamet Resources Limited (AIM:ARS) for approximately $160 million.

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