Albright Metals Limited ACN: 616 795 245 Consolidated Interim Financial Report For the half-year ended 31 December 2025 2 Contents CORPORATE DIRECTORY .........................................................................................................................3 DIRECTORS’ REPORT ...............................................................................................................................4 AUDITOR’S INDEPENDENCE DECLARATION..........................................................................................14 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income .................15 Condensed Consolidated Statement of Financial Position...................................................................16 Condensed Consolidated Statement of Changes in Equity...................................................................17 Condensed Consolidated Statement of Cash Flows .............................................................................18 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS..............................................19 DIRECTORS’ DECLARATION...................................................................................................................28 INDEPENDENT AUDIT REPORT TO THE MEMBERS OF ALBRIGHT METALS LIMITED.............................29 3 CORPORATE DIRECTORY Directors Ian Stuart Non-executive Chair Leslie Ingraham Non-executive Director Ashley Jones Non-executive Director Chief Executive Officer Greg Hill Company Secretary Neville Bassett Registered and Principal Office 191B Carr Place Leederville WA 6007 Telephone 08 9321 0001 Share Registry Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 GPO Box 5193 Sydney NSW 2001 Telephone 1300 288 664 Auditors Elderton Audit Pty Ltd Level 28, 140 St Georges Terrace, Perth WA 6000 Australian Securities Exchange Albright Metals Limited shares (ABR) are listed on the Australian Securities Exchange. albrightmetals.com 4 DIRECTORS’ REPORT The directors submit the Consolidated Interim Financial Report of Albright Metals Limited (“the Company”) and its controlled entities (“the Group”) for the half-year ended 31 December 2025. This report should be read in conjunction with announcements to the Australian Securities Exchange (ASX). In order to comply with the provisions of the Corporations Act 2001, the directors report as follows: DIRECTORS The names of the Directors who held office during or since the end of the half-year and until the date of this report are noted below. Directors were in office for this entire period unless otherwise stated: - Ian Stuart - Non-executive Chair - Leslie Ingraham - Non-executive Director - Ashley Jones – Non-executive Director REVIEW OF OPERATIONS CORPORATE ACTIVITIES The net loss for the half-year attributed to members of Albright Metals Limited was $2,717,564 (2024: loss of $389,830). On 1 July 2025 the Company appointed experienced mining and engineering professional, Greg Hill as Chief Executive Officer.1 On 2 July 2025 West Coast Minerals Pty Ltd a wholly owned subsidiary of Albright Metals Limited, purchased the Net Smelter Return mineral royalty over two Mining Leases and four Exploration Licences held by Albright Metals Limited. The Company issued 100,000,000 fully paid ordinary shares as consideration.2 On 22 July 2025 the Company announced it had signed a formal contract on exercise of the option with Globex Mining Enterprises Inc. to acquire 100% of the Golden Pike high-grade gold and antimony project in New Brunswick, Canada. On execution of the contract the first milestone payment in cash and shares was due, $80,000 cash consideration was paid and 30,245,676 fully paid ordinary shares were issued.3 On 23 July 2025 the Company completed a successful placement to professional and sophisticated investors, raising $170,000. The placement of 28,333,333 shares was at an issue price of $0.006 per share raising $170,000 (before costs).4 During the reporting period the Company also arranged a Placement of 457,133,133 new shares with sophisticated and professional investors to raise $1.98 million (before costs). The placement was at an issue price of $0.00435 per share and included the issue of one (1) free-attaching option for each new share issued with a strike price of $0.006 and an expiry of 36 months. The placement was completed on 29 October 2025.5 1 ASX announcement 1 July 2025 ‘Experienced Mining and Engineering Professional Appointed as CEO’ 2 ASX announcement 3 July 2025 ‘Mineral Royalty Purchased by Subsidiary of Bryah Resources’ 3 ASX announcement 22 July 2025 ‘Contract signed for Golden Pike Project’ 4 ASX announcement 22 July 2025 ‘Bryah to Raise $170,000 in Private Placement’ 5 ASX announcement 22 October 2025 ‘Bryah to Raise up to $1.98 Million’ 5 In December 2025, the Company’s name changed from Bryah Resources Limited to Albright Metals Limited, with its ASX code changing from BYH to ABR.6 SUBSEQUENT EVENTS • Two sets of high-grade gold results have been received from the Vail Road Gold Deposit at the Golden Pike Gold and Antimony Project7 . • An antimony (Sb) drilling program commenced at the Bond Road Antimony Prospect at the Golden Pike Gold and Antimony Project.8 • A portion of Albright Metals’ Bryah Basin tenement package has been sold to Catalyst Metals Limited (ASX: CYL), with an option to also acquire the Company’s Bryah Basin Manganese Joint Venture (BBMJV) tenements, excluding the manganese minerals rights.9 o Catalyst Metals have purchased the Bryah Basin tenement package from Albright Metals for $1,000,000 in cash and $800,000 in Catalyst Metals (ASX: CYL) shares. o The cash and scrip deal provides funding for Albright Metals to advance its high-grade gold and antimony project in Canada and its remaining Western Australia assets. o The transaction also includes an option for Catalyst Metals to acquire the remainder of Albright Metals’ Bryah Basin tenements which are subject to the BBMJV, excluding the manganese mineral rights on those tenements which are held by the BBMJV, for an additional $2,200,000 in cash and/or CYL shares. o If Catalyst elects to exercise its option, the BBMJV will retain the manganese mineral rights. Albright Metals owns 40% of the BBMJV. • On 10 January 2026 the Company issued a notification of cessation of securities. 10 million performance rights previously issued to directors and key management personnel lapsed because the conditions have not been and have become incapable of being satisfied. PROJECT ACTIVITIES The Company operates a portfolio of projects in Canada and in Western Australia. The Company focuses its activities on exploration and project development for future production of strategic and precious metals. Albright Metals’ flagship Golden Pike Project in New Brunswick, Canada has a high-grade gold deposit and is highly prospective for antimony and precious metals exploration. 6 ASX announcement 2 December 2025 ‘Change of Company Name and New Constitution’ 7 ASX announcement 28 January 2026 ‘High-Grade Gold Results for Golden Pike Project’ and 11 March 2026 ‘Vail Road High- Grade Gold Results at Golden Pike Project’ 8 ASX announcement 8 January 2026 ‘Antimony Drilling Program Commenced’ 9 ASX announcement 19 February 2026 ‘Catalyst Metals to Purchase Bryah Basin Tenements’ 6 GOLDEN PIKE GOLD AND ANTIMONY PROJECT (100%) EXPLORATION HIGHLIGHTS: • Reconnaissance prospecting activities recovered stibnite boulder samples from the Bond Road prospect including up to 57% Sb collected10 . • Planning and permitting was received for an exploration drilling campaign at the Bond Road antimony prospect. • A drilling program was completed at the Vail Road high-grade gold deposit. The Golden Pike Gold and Antimony Project is located 90km north of the port city of Saint John in south- central New Brunswick, Canada and comprises 146 contiguous mineral claims covering approximately 3,292 ha. In July 2025 Albright Metals exercised its option to acquire the Golden Pike Project from Globex Mining Enterprises Inc. (TSX:GMX).11 Under the terms of the contract, Albright Metals is required to progressively complete $3,000,000 of exploration work on the Mineral Claim, spread over a period of four years. Globex will retain a 2% Gross Metal Royalty (GMR) on the first 20,000 ounces of precious metals and 3% on all metals and minerals thereafter produced from the Mineral Claim. Albright Metals has the option to buy back 1% of the 3% GMR before the completion of production of the first 20,000 ounces of precious metals for $1,000,000. 10 ASX announcement 7 October 2025 ‘Highest Grade Antimony Rock Chip Samples to Date’ 11 ASX announcements 21 May 2025 ‘Acquisition of Advanced High-Grade Gold Project’, 11 July 2025 ’Option Exercised to Acquire High-Grade Canadian Project’ and 22 July 2025 ‘Contract Signed for Golden Pike Project’ 7 Figure 1 - Golden Pike Project Location The Golden Pike Project includes the Vail Road Gold Deposit, the Bond Road Antimony Prospect and the Albright Brook Antimony Prospect (see Figure 3). Prior exploration has focused on gold and includes approximately 20,000m of diamond drilling. New Brunswick has a long history of antimony mining at Lake George where ore grades were ~4% Sb12 . 12 ASX announcement 7 October 2025 ‘Highest Grade Antimony Rock Chip Samples Retrieved to Date’ 8 Figure 2 - Golden Pike Project: Gold and Antimony Prospects A drilling program at the Vail Road Gold Deposit was completed in December 2025. The key objectives of the program were to: • Undertake infill drilling to test continuity of the interpreted mineralised zones. • Replicate the results of some historical holes as quality assurance for a pending JORC 2012 mineral resource estimation. • Collect structural and other technical data on the deposit necessary for mine planning. • Acquire samples for metallurgical recovery test work. 9 The program completed 1,020m of oriented HQ diamond drilling. The first set of assay results were released in January 202613 , with down hole intercepts including: o VR-25-76 – 6.27m at 33.74 g/t Au from 54.43m including: 2.57m at 70.66 g/t Au from 57.26m o VR-25-70 – 0.5m at 25.9 g/t Au from 100.20m o VR-25-71 – 1.0m at 17.42 g/t Au from 61.20m including: 0.5m at 33.6 g/t Au from 61.70m o VR-25-72 – 0.6m at 11.3 g/t Au from 66.30m A second batch of assays have been received and were released in March 202614 , including best down hole intercepts of: o VR-25-75 – 5.0m at 3.9 g/t Au from 56.0m including: 1.0m at 17.20 g/t Au from 57.00m o VR-25-77 – 2.33m at 24.81 g/t Au from 51.92m including: 1.0m at 57.50 g/t Au from 53.25m o VR-25-80 – 3.40m at 1.70 g/t Au from 4.7m including: 1.2m at 3.13 g/t Au from 6.1m o VR-25-82 – 2.03m at 3.35 g/t Au from 23.02m including: 0.8m at 8.13 g/t Au from 24.25m Further results from 2 holes are pending and the Company intends to incorporate all results into a Mineral Resource Estimate reported in accordance with the JORC Code 2012 and estimated by a Competent Person as defined by the JORC Code. The Project is also highly prospective for antimony (Sb), which is a critical mineral used in flame retardants, semiconductors, alloys and photovoltaic cells. It is classified as a critical mineral by governments globally, including Australia, Canada and the United States. The Bond Road Prospect is a high-grade antimony occurrence which historically has yielded numerous boulder chip samples grading greater than 15% Sb. Historical soil sampling programs have shown high Sb values along a NW trending structure. The Company undertook field reconnaissance programs at the Bond Road prospect during the period to establish the exact locations of the surface antimony occurrences and to identify possible drill pad sites. During this field work the Company recovered rock chip samples collected from boulders which included the following assay results15 : • BBD02506 – 27.6% Sb and 1.61 g/t Au • BBD02507 – 57% Sb and 0.1 g/t Au Planning, approvals and clearing works were completed at the Bond Road prospect by December 2025. 13 ASX announcement 28 January 2026 ‘High-Grade Gold Results for Golden Pike Project’ 14 ASX announcement 11 March 2026 ‘Vail Road High-Grade Gold Results at Golden Pike Project’ 15 ASX announcement 7 October 2025 ‘Highest Grade Antimony Rock Chip Samples Retrieved to Date’ 10 BRYAH BASIN MANGANESE JOINT VENTURE (BYH - 40% JV INTEREST) Albright Metals has a Manganese Farm-In and Joint Venture Agreement (“JV Agreement”) with OM (Manganese) Limited, a wholly owned subsidiary of ASX-listed OM Holdings Limited (ASX:OMH).16 The JV Agreement applies to the rights to manganese only, over the relevant tenements held by the Company in the Bryah Basin (see Figure 3). The Manganese JV includes the Horseshoe South Manganese Mine (M52/806), which is the largest historical manganese mine in the region. The Project has an Indicated and Inferred Mineral Resource of 3.07 Mt @ 20.1% Mn that was estimated in 202317 . The total mineral resource for the BBMJV by prospect and resource category is provided in Table 1. The location of the manganese prospects tabulated in the mineral resource table is shown in Figure 3. During the period, the BBMJV received an environmental report and planning is underway for a scoping study on the project. Table 1: BBMJV 2023 Manganese Mineral Resource by Prospect and Category 2023 Estimate Prospect Category kt Mn % Fe % Area 74 Indicated 286 24.1 21.1 Brumby Creek 1,038 20.6 20.5 Horseshoe 295 20.5 23.6 Redrum 429 19.2 22.7 Black Hill 24 29.7 20.2 Total Indicated 2,072 20.9 21.5 Area 74 Inferred 16 18.0 23.5 Brumby Creek 276 18.5 24.4 Horseshoe 351 19.5 29.9 Redrum 351 18.0 23.8 Total Inferred 994 18.6 26.1 Total Mineral Resource 3,066 20.2 23.0 Totals may not add up due to rounding. Tonnages are dry metric tonnes. Kilotonne (kt) =1,000 tonnes. 16 ASX announcement 23 April 2019 ‘Manganese Farm-In and Joint Venture Agreement with OM Holdings Limited’ 17 ASX announcement 24 August 2023 ‘Bryah Basin Manganese Mineral Resource Increases to 3.07 Million Tonnes at 20.2% Mn’ 11 Figure 3 – Albright Metals’ Bryah Basin Manganese Tenure BRYAH BASIN COPPER-GOLD PROJECT (ABR – 100%) The Bryah Basin project is located in central Western Australia. The project is located close to several mining operations including the high-grade Volcanogenic Massive Sulphide (VMS) DeGrussa copper-gold mine which was operated by Sandfire Resources NL (ASX:SFR) until 2022 and the Fortnum gold mine currently operated by Westgold Resources Limited (ASX:WGX). The tenements are underlain by the Padbury and Bryah Group, consisting of the Labouchere formation and Horseshoe formation respectively, which are known to host copper and gold deposits in the Bryah Basin and the greater district. All tenure in the Bryah Basin is prospective for copper and gold, including those tenements within the BBMJV. Figure 4 outlines tenure in the Bryah Basin that was held by Albright Metals and considered prospective for gold and copper, excluding M 52/1068-I within the BBMJV, held by Desert Resources Ltd, with manganese mineral rights to the BBMJV only. 12 Figure 4 - Albright Metals’ Bryah Basin Copper-Gold tenure LAKE JOHNSTON LITHIUM-NICKEL (ABR - 100%) The Lake Johnston Project consists of one granted exploration licence E63/2159, held by the Company. No field activities were undertaken at the Lake Johnston Project during the half-year as the Company prioritised drilling at the Golden Pike Project. GABANINTHA PROJECT The Gabanintha Project is located approximately 40km south of Meekatharra in Western Australia. Albright Metals holds the rights to all minerals except Vanadium, Uranium, Cobalt, Chromium, Titanium, Lithium, Tantalum, Manganese and Iron Ore, which are retained by Australian Vanadium Limited (ASX:AVL). AVL completed a BFS in December 2021 on its Australian Vanadium Project and Albright Metals updated the Cu, Ni and Co resource based on the pit designs in May 2022.18 COMPETENT PERSON STATEMENT — MINERAL RESOURCE ESTIMATION The information in this report that relates to Mineral Resources is based on and fairly represents information compiled by Mr Lauritz Barnes, (Consultant with Trepanier Pty Ltd), Dr Joe Drake-Brockman (Consultant with Drake-Brockman Geoinfo Pty Ltd) and Ms Gemma Lee (Principal Geologist with Albright Metals Limited). Mr Barnes, Dr Drake-Brockman and Ms Lee are members of the Australasian Institute of Mining and Metallurgy (AusIMM) and/or the Australian Institute of Geoscientists (AIG). All have sufficient 18 ASX announcement 25 May 2022 ’36 Million Tonne Nickel-Copper-Cobalt Mineral Resource at Gabanintha’ 13 experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Specifically, Mr Barnes is the Competent Person for the estimation, Dr Drake-Brockman is the Competent Person for the geological model and site visits and Ms Lee is the Competent Person for the geological database. Mr Barnes, Dr Drake-Brockman and Ms Lee consent to the inclusion in this report of the matters based on their information in the form and context in which they appear. Where the Company refers to Mineral Resource estimations in this announcement (referencing previous releases made to the ASX), the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements. COMPETENT PERSON STATEMENT – EXPLORATION RESULTS The information in this announcement that relates to exploration results is based on information compiled by Ms Gemma Lee, who is a Member of the Australian Institute of Geoscientists (AIG) and is Principal Geologist for Albright Metals Limited. Ms Lee has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Ms Lee consents to the inclusion in this announcement of the matters based on her information in the form and context in which it appears. Where the Company refers to Exploration Results in this announcement (referencing previous releases made to the ASX), the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements. SIGNIFICANT CHANGES IN STATE OF AFFAIRS Significant changes in the state of affairs of the Company during the half-year are detailed under the heading ‘Review of Operations’ of this report. In the opinion of the Directors, there were no other significant changes in the state of affairs of the Company that occurred during the half-year under review not otherwise disclosed in this report or in the financial report. A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 in relation to the review for the half-year ended 31 December 2025 is included within this financial report. Signed on behalf of the Directors. IAN STUART Non-executive Chair 13 March 2026 Auditor's Independence Declaration To those charged with governance of Albright Metals Limited (formerly Bryah Resources Limited) As the auditor for the review of Albright Metals Limited (formerly Bryah Resources Limited) for the half-year ended 31 December 2025, I declare that, to the best of my knowledge and belief, there have been: i. no contraventions of the independence requirements of the Corporations Act 2001 in relation to the review; and ii. no contraventions of any applicable code of professional conduct in relation to the review. This declaration applies to Albright Metals Limited (formerly Bryah Resources Limited) and its controlled entities for the reporting period. Elderton Audit Pty Ltd Sajjad Cheema Director 13 March 2026 Perth 15 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the half-year ended 31 December 2025 Consolidated 31/12/2025 31/12/2024 Notes $ $ Income 6,526 414,958 Exploration and evaluation expenditure 2 (650,603) (214,361) Stock exchange and registry expenses (79,155) (35,555) Legal expenses (99,779) (21,137) Depreciation 3 (17,013) (19,072) Share Based Payments expenses 8 100,991 (50,847) Directors fees and benefits expenses (203,000) (161,625) Loss in associate (25,885) (78,762) Reversal of impairment in associate 144,885 155,762 Impairment of capitalised exploration and evaluation expenses (1,522,618) - Profit on sale of investment 115,715 - Other corporate and administrative expenses (487,627) (379,191) Profit/(Loss) before income tax expense from continuing operation (2,717,564) (389,830) Income Tax Expense - - Profit/(Loss) after income tax expense for the half-year (2,717,564) (389,830) Other Comprehensive Income - - Total Comprehensive Profit/(Loss) for the half-year (2,717,564) (389,830) Cents Cents Basic/diluted earnings per share (0.23) (0.08) The accompanying notes form part of these condensed consolidated interim financial statements. 16 Condensed Consolidated Statement of Financial Position As at 31 December 2025 Consolidated 31/12/2025 30/06/2025 Notes $ $ ASSETS Current Assets Cash and cash equivalents 1,097,440 598,883 Trade and other receivables 302,997 255,708 Total Current Assets 1,400,437 854,591 Non-Current Assets Plant and equipment 3 37,187 49,958 Investment in Associate 4 294,000 275,000 Exploration and evaluation assets 2 10,752,216 10,484,392 Total Non-Current Assets 11,083,403 10,809,350 TOTAL ASSETS 12,483,840 11,663,941 LIABILITIES Current Liabilities Trade and other payables 416,137 200,121 Other liabilities 8,457 47,202 Provisions 5 172,592 163,610 Total Current Liabilities 597,187 410,933 TOTAL LIABILITIES 597,187 410,933 NET ASSETS 11,886,653 11,253,008 EQUITY Issued Capital 6 24,477,781 20,972,593 Reserves 7 3,439 157,419 Accumulated losses (12,594,567) (9,877,004) TOTAL EQUITY 11,886,653 11,253,008 The accompanying notes form part of these consolidated interim financial statements. 17 Condensed Consolidated Statement of Changes in Equity For the half-year ended 31 December 2025 Consolidated Attributable to equity holders of the parent Issued Capital Reserves Accumulated Losses Total $ $ $ $ Balance as at 1 July 2024 19,579,802 664,131 (8,275,803) 11,986,130 Profit / (Loss) for the period - - (389,830) (389,830) Total Comprehensive Loss - - (389,830) (389,830) Ordinary shares issued for cash 407,000 (307,000) - 100,000 Recognition of share-based payments – for services provided by KMP and directors - 50,847 - 50,847 Share issue costs (6,198) - - (6,198) Balance as at 31 December 2024 19,980,604 407,978 (8,665,633) 11,722,950 Balance as at 1 July 2025 20,972,593 157,419 (9,877,004) 11,253,008 Profit / (Loss) for the period - - (2,717,564) (2,717,564) Total Comprehensive Loss - - (2,717,564) (2,717,564) Ordinary shares issued for cash 2,158,529 - - 2,158,529 Ordinary shares issued as consideration 1,423,818 - - 1,423,818 Recognition of share-based payments – for services provided by KMP, directors and staff - 17,869 - 17,869 Recognise lapsed Performance Rights (118,860) Options issued for services provided - 663 - 663 Recognise lapsed Options - (53,652) - (53,652) Share issue costs (77,160) - - (77,160) Balance as at 31 December 2025 24,477,781 3,439 (12,594,567) 11,886,653 The accompanying notes form part of these consolidated interim financial statements. 18 Condensed Consolidated Statement of Cash Flows For the half-year ended 31 December 2025 Consolidated 31/12/2025 31/12/2024 Note $ $ Cash flows used in operating activities Payments to suppliers and employees (1,521,060) (811,803) Interest received 5,446 12,232 Net Cash used in operating activities (1,515,614) (799,571) Cash flows used in investing activities Payments for exploration of mining interests (7,615) - Receipts from Government grants - 402,726 Payment for property, plant and equipment (4,242) - Net Cash (used in) / provided by investing activities (11,857) 402,726 Cash flows provided by financing activities Net proceeds from issue of securities 2,159,192 100,000 Payment of capital raising costs (130,812) (7,518) Net cash provided by financing activities 2,028,380 92,482 Net increase / (decrease) in cash held 500,909 (304,363) Cash and cash equivalents at beginning of the financial period 596,531 603,083 Cash at end of the financial period 1,097,440 298,720 The accompanying notes form part of these consolidated interim financial statements. 19 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the half-year ended 31 December 2025 1. STATEMENT OF MATERIAL ACCOUNTING POLICIES Basis of Preparation This consolidated interim financial report for the half-year reporting period ended 31 December 2025 has been prepared in accordance with Australian Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Act 2001. This consolidated interim financial report does not include full disclosures of the type normally included in an annual report. It is recommended that this financial report be read in conjunction with the annual financial report for the year ended 30 June 2025 and any public announcements made by Albright Metals Limited during the half-year reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. The accounting policies have been consistently applied with those of the previous financial periods and corresponding interim reporting period, except in relation to the matters disclosed below. The consolidated interim financial report has been prepared on a historical cost basis modified, where applicable, by measurement at fair value of selected items. Cost is based on the fair values of the consideration given in exchange for assets. For the purpose of preparing the interim report, the half-year has been treated as a discrete reporting period. Going Concern The Company has reported a net loss for the half-year of $2,717,564 (December 2024: $389,830), and a cash outflow from operating activities of $1,515,614 (December 2024: $799,571). As at 31 December 2025 the Company had $1,097,440 in cash and cash equivalents (30 June 2025: $598,883) and a working capital surplus of $803,250 (30 June 2025: $443,658). The condensed consolidated interim financial report has been prepared on a going concern basis. In arriving at this position the directors have had regard to the fact that based on the matters noted below the Company has, or in the directors’ opinion, will have access to, sufficient cash to fund administrative and other committed expenditure for a period of at least 12 months from the date of signing the condensed interim financial report. In forming this view the directors have taken into consideration the following: - The ability to manage discretionary expenditure in line with the Company’s cashflow; and - The ability to obtain additional funding as and when required. Should the entity not be able to continue as a going concern, it may be required to realise its assets and discharge its liabilities other than in the ordinary course of business, and at amounts that differ from those stated in the financial statements. The financial report does not include any adjustments relating to the recoverability and classification of recorded asset amounts or liabilities, that might be necessary should the entity not continue as a going concern. 20 New or amended Accounting Standards and Interpretations adopted The Company has adopted all new or amended Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for the current reporting period. 2. EXPLORATION AND EVALUATION ASSETS Consolidated 31/12/2025 30/06/2025 $ $ Exploration expenditure brought forward 10,484,392 11,111,800 Tenements surrendered – Bryah Basin Project (639,628) (363,420) Tenements surrendered – Lake Johnston Project (10,975) (512,639) Impairment of exploration expenditure (1,522,618) - Expenditures during the period 171,113 248,651 Project development costs – Golden Pike (Canada) 1,069,932 - Net Smelter royalty agreement 1,200,000 - Exploration expenditure carried forward 10,752,216 10,484,392 The expenditure above relates principally to the exploration and evaluation phase. The ultimate recoupment of this expenditure is dependent upon the successful development and commercial exploitation, or alternatively, sale of the respective areas of interest, at amounts at least equal to book value. Given management’s approach to exploration expenditure carried forward, as at 31 December 2025 an impairment value of $1,522,618 has been recognised against the Bryah Basin tenement package on the basis that, as detailed under events subsequent to the half-year end, a portion of Albright Metals’ Bryah Basin tenement package has been sold to Catalyst Metals Limited (ASX:CYL) for $1,000,000 in cash and $800,000 in Catalyst Metals shares. Management’s approach to carrying forward exploration expenditure is also the reason as to why $1,069,932 of costs for the Golden Pike mineral claim in Canada form part of the exploration and evaluation asset value. The Company has recognised the consideration of 100,000,000 ordinary shares for the purchase of the net smelter royalty agreement using the closing price at issue date, 2 July 2025 of $0.012. 3. PLANT AND EQUIPMENT Consolidated 31/12/2025 30/06/2025 $ $ Plant and Equipment at cost 358,187 353,945 Accumulated depreciation (321,000) (303,987) Balance at the end of the period 37,187 49,958 21 Movements in the carrying amounts for each class of plant and equipment