Albright Metals Limited 191B Carr Place Leederville, WA 6007 Phone: +61 8 9321 0001 Email: info@albrightmetals.com ASX: ABR ABN: 59 616 795 245 A S X A N N O U N C E M E N T 29 SEPTEMBER 2026 Mineral Resource for Vail Road Gold Deposit HIGHLIGHTS • Global Mineral Resource update for Vail Road Gold Deposit of 188.0 kt at 9.0 g/t Au for 54,200 contained ozs at 2.0 g/t Au cut-off grade. • Includes initial Indicated Category portion of 33.5 kt at 20.9 g/t Au for 22,500 contained ozs. • Mineral Resource to be used as basis for Scoping Study on development pathways. • High-grade extensions at Vail Road Gold Deposit identified for drill testing. Albright Metals Limited (ASX:ABR, “Albright Metals” or “the Company”) is pleased to announce a Mineral Resource for its Vail Road Gold Deposit. The Mineral Resource converts the Foreign Resource Estimate previously announced for the project,1 to one reported under the JORC 2012 code. This update incorporates assay, geology, rock density and structural data from additional drilling completed by Albright Metals in late 2025.2 The Vail Road Gold Deposit is located at the Company’s Golden Pike Project in New Brunswick, Canada (Figure 1). CEO, Greg Hill comments, “The extensive work completed over the last 12 months has culminated in this excellent outcome. Having a significant portion of the resource in the Indicated category paves the way for the Company to develop the Vail Road high-grade gold deposit. I am extremely excited about commencing this next phase of project development.” Importantly, this Mineral Resource for the Vail Road Gold Deposit contains a portion of Indicated Mineral Resource category, based on an improved understanding of the structural controls for the veining and gold mineralisation. Data collected during Albright Metals’ 2025 diamond drill program provided valuable information from oriented drill core, increasing confidence in geological continuity to now include a portion in the Indicated Mineral Resource category. This higher resource category provides a basis for technical and economic studies on the project. Albright Metals will now move to expedite a development pathway for the Vail Road Gold Deposit, during a time of historically high gold prices. 1 ASX announcement 11 July 2025 ‘Option Exercised to Acquire High-Grade Canadian Gold Project’ 2 ASX announcements 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’ ASX: ABR | albrightmetals.com 2 Figure 1 - Location of Vail Road Gold Deposit at the Golden Pike Project Table 1 below provides the 2026 Vail Road Gold Deposit Mineral Resource by category and zone. Figure 2 provides the drill collar plan and schematic of the Vail Road Gold Deposit veins extended to surface. Three zones of quartz veining with gold mineralisation are defined, being the Main Zone, Middle Zone and Parallel Zone, with the gold Mineral Resource by category shown for each of the zones. The base image is high-quality aerial magnetics flown by Novatem™ airborne geophysics, commissioned for the survey by Globex in 2022, draped on Government of New Brunswick LiDAR topography. East-west shears which offset the veins and mineralisation are shown, with the shears coinciding with orientation flexures in magnetic highs. The Mineral Resource table is provided in Appendix 1 by Resource Category and Zone. ASX: ABR | albrightmetals.com 3 Table 1 - Vail Road Gold Deposit 2026 Mineral Resource by Resource Category and Zone Category Zone Kilotonne (kt) Au g/t Au ozs (000s) Cu ppm Indicated Main 11.1 31.1 11.1 4,010 Middle 10.4 19.5 6.6 3,338 Parallel 11.9 12.7 4.9 2,067 Subtotal 33.5 20.9 22.5 3,107 Inferred Main 42.2 4.0 5.4 1,881 Middle 6.8 10.0 2.2 1,797 Parallel 105.6 7.1 24.1 1,395 Subtotal 154.6 6.4 31.7 1,545 GLOBAL TOTAL 188.0 9.0 54.2 1,823 Note: Mineral Resource reported at 2 g/t Au cut-off grade; Numbers may not add up due to rounding; Tonnages are dry metric tonnes; Kilotonne = 1,000 tonnes; 10,000 ppm = 1% Figure 2 - Vail Road Gold Deposit Mineral Resource and Drill Collar Plan ASX: ABR | albrightmetals.com 4 The cross section in Figure 3 is a schematic through the Main, Middle and Parallel Zones, with drill intercepts annotated. The section location is annotated with the line A – A’ on Figure 2. East-west shears are shown, and the modelled parent vein and internal mineralised zones are shown for veins on the section. Figure 3 - Vail Road Gold Deposit Section A – A’ ASX: ABR | albrightmetals.com 5 Deposit Geology and Potential Extensions The Vail Road Gold Deposit is located 1.5 km south of the northeast trending Taylor Brook Fault (see Figure 1), a major crustal thrust fault which marks the boundary between the Cambro-Ordovician aged Annidale Group rocks of the Gander Zone in the north and the Silurian aged Mascarene Group of the Avalonian Zone in the south. The gold is within an auriferous quartz-carbonate vein system in basalt and volcaniclastic units of the Grant Brook Formation within Mascarene Group rocks. Peripheral to the deposit are shales, siltstones, argillites and mudstones, also of the Grant Brook Formation. Mineralised quartz veins at the deposit trend north-northeast. The crustal evolution and deformation history of the Project area has been evaluated during a detailed research project (Lafontaine, 2005)3 with the following deposit history outlined: - Deposition of the Grant Brook Formation in an Early Silurian volcano-sedimentary episode onto Avalonian crust. The event marked a major change in the tectonic regime of Southern New Brunswick, likely in an extensional to back-arc environment. - Deformation 1 (D1) event was before mineralisation with NE trending, steeply dipping to subvertical planar fabrics developed, sub-parallel to the Taylor Brook Fault to the north. Open antiform – synform folding of the volcano-sedimentary sequence with fold hinges plunging shallowly to the southwest resulted in sub- vertical NE trending axial planar weaknesses. - D2 event was long-lasting brittle to brittle-ductile faulting, vein intrusion and gold mineralisation. Lafontaine interprets D2 as the main gold mineralisation event. Repeated opening and sealing of the structures produced laminated veins of quartz-carbonate-sulphides, with evidence for two gold mineralising episodes. Local brecciation, fractured sulphides, crack-seal textures and progressive shearing indicate repeated brittle failure. Auriferous veins from this event trended about 10 – 20˚ (N-NE) with a steeply west to sub-vertical dip. Individual veins were developed to thickness of 1 – 3 m wide along a strike about 400 – 450 m long (with some of the mineralised veins noted to be up to 5 m true width from additional drill data after the study was completed). - D3 event post-mineralisation was late east-west brittle strike-slip and dip-slip faulting that offset the existing auriferous quartz-carbonate-sulphide veins. The structures are steeply north dipping and produce east-west planar structures with an average strike of 080˚. Strike slip shearing was accompanied by vertical dip-slip movement resulting in offset of the previous D2 vein system. D3 likely dislocated a single set of gold veins into the Parallel, Middle and Main Zones. The event had a northeast rotational component, creating the current strike range of the auriferous veins of 020˚ - 070˚ with the Parallel and Main Zones striking about 020˚ – 035˚ with steep WNW dips and the Middle Zone striking about 070˚ with moderate N dip. - D4 is tentatively interpreted by Lafontaine to be a late set of SE trending fractures, joints and cleavage fabric. It is unclear whether D4 structures are a separate late 3 Lafontaine, J. (2005). The Devil Pike Brook Gold Deposit; an Example of an Orogenic Lode Gold Deposit in the Canadian Appalachians. A thesis prepared in partial fulfillment for the degree of M.Sc. in Geology at the University of New Brunswick. Fredericton, NB, Canada: University of New Brunswick. ASX: ABR | albrightmetals.com 6 event or antithetic structures related to reactivation of the D1 fault system. The D4 structures are not recognised to have a significant impact on auriferous vein geometry. Figure 4 below is a long section view of the geology model of Vein 1 in the Main Zone with gram metre4 intercepts for Vein 1 from the drill dataset. Figure 4 - Vail Road Gold Deposit Main Zone Vein 1 Long Section – Extension Potential 4 Gram Metres = Au g/t x Downhole Width (m) ASX: ABR | albrightmetals.com 7 Offsetting Vein 1 and Vein 2, with a dip-slip southwest side down sense of movement (estimated to be about 50 m downward displacement) are two east-west shears. High- grade gold in the eastern end of the Main Zone may be present at depth in the next fault block to the southwest, presenting a drill target with potential to increase the amount of Indicated category Mineral Resource in future updates. Multiple other untested portions of the Main Zone also have potential to host significant zones of gold mineralisation as annotated in Figure 4. The shallow, high-grade zone in vein 1 that is Indicated Mineral Resource category in this 2026 update is marked with a “1” (top right of image) and the interpreted downwards offset of this zone is shown in the fault blocks to the west (centre and bottom centre), also annotated with “1”. These are zones that require future drill testing for further high-grade gold mineralisation. Additional drilling at the Vail Road Gold Deposit will aim to infill portions of the deposit that optimise in a narrow high-grade underground production scenario during the upcoming Scoping Study work. Drill holes will be planned to test additional zones for potential high-grade gold in the Main Zone. Comparison With Previous Estimates This Mineral Resource update, reported under the JORC 2012 code, is preceded by an initial Foreign Estimate in 20111 reported under the Canadian National Instrument 43-101 (NI 43-101) code. The previous estimate, completed by Roscoe Postle and Associates (RPA), was reported wholly as Inferred Category, whereas this Mineral Resource update includes a portion of Indicated Category. Table 2 is a summary comparison of this 2026 Mineral Resource update, reported under the JORC 2012 code with the previous initial Foreign Estimate, reported under the NI 43-101 code. Table 2 – Comparison of 2026 Vail Road Gold Deposit Mineral Resource with 2011 Foreign Estimate Estimate Category Kilotonne (kt) Au (g/t) Ozs (000s) 2011 RPA reported under NI 43-101 Inferred 214.8 9.60 66.3 Global 214.8 9.60 66.3 2026 ABR reported under JORC 2012 Indicated 33.5 20.9 22.5 Inferred 154.6 6.4 31.7 Global 188.0 9.0 54.2 Note: Albright Metals’ (ABR) Mineral Resource reporting cut-off grade is 2 g/t Au, RPA reporting cut-off grade is 5 g/t Au; Tonnages are dry metric tonnes; Kilotonne = 1,000 tonnes; Numbers may not add up due to rounding Key differences between the two estimates for the Vail Road Gold Deposit are: - RPA reported the 2011 NI 43-101 Foreign Estimate as Inferred Category only, whereas this 2026 Mineral Resource update has Indicated and Inferred Category, based on increased geological confidence in mineralisation continuity and improved rock density data. - RPA used a minimum thickness of 2 m for defining mineralised intervals, including waste wall rock at times to achieve minimum thickness. Inverse distance cubed (ID3 ) was applied with grade top cuts of 30 g/t Au applied to the composites, and both a cut and un-cut estimation reported. This 2026 Mineral Resource excludes waste wall rock (with some rare lower grade accepted internally within intercepts in the same quartz vein, or some thin low-grade intercepts to support vein continuity). High-grade sub-domains in veins 1 (Main Zone), 9 (Middle Zone) and 3 ASX: ABR | albrightmetals.com 8 (Parallel Zone) are wireframed using hard boundaries to constrain ordinary kriging estimation of the gold. - This 2026 Mineral Resource incorporates geology logging and assay results for 24 additional drill holes for 4,349.5 m of core drilling completed by Rockport in 2011 and 2012 and 15 additional diamond core holes for 1,022.5 m by Albright Metals in 2025. - This 2026 Mineral Resource update is based on refined geological modelling using structural data from Albright Metals’ 2025 drill holes, that validate structural controls and mineralisation sequence for the deposit outlined in a 2005 research thesis paper.3 - This 2026 Mineral Resource incorporates a significantly larger rock density dataset, improving accuracy of the density applied in the estimation and hence metal content within the estimation. 2.70 is applied to barren quartz veining; a range of density between 2.73 and 2.77 was applied to blocks according to increasing gold value (and hence increasing sulphides) based on analysis of the density dataset averages for the various gold grades. RPA density assignment was based on a small dataset of pycnometry density determinations and 2.80 was assigned to all mineralisation. - RPA reported the 2011 Foreign Estimate at a 5 g/t Au cut-off. This 2026 Mineral Resource is reported at a 2 g/t Au cut-off. The lower cut-off applied to this 2026 update reflects the higher gold price in 2026 and considers overall grade of the veins, with higher grade portions of the deposit able to support lower grade portions for an economic extraction grade using narrow vein underground mining methods. Summary of Resource Estimate and Reporting Criteria As per ASX listing rule 5.8 and the JORC 2012 Code reporting guidelines, a summary of material information used to estimate the Mineral Resource is detailed below (for more detail please refer to JORC Table 1, Section 1 to 3 included in Appendix 3). Drill collar and survey details and gold intercepts for the Mineral Resource are reported in Appendix 2. GEOLOGY AND GEOLOGICAL INTERPRETATION Structural data collected from oriented diamond drill core during Albright Metals’ 2025 drill program has confirmed presence of the structures described by Lafontaine in his 2005 thesis3 on the Vail Road Gold Deposit (formerly referred to as Devil’s Pike Gold Deposit). Geological modelling for the wireframes that underpin the estimation has included D3 offset structures, separating veins 1 and 2 in the Main Zone into three different fault blocks, with a dextral and dip-slip movement sense. The dip-slip component to the shear offset results in an interpreted 50 m downwards movement with the shallowest fault block in the northeast, and the deepest in the southwest. Vein 9 in the Middle Zone is interpreted as attenuated along the northernmost modelled east-west shear. The model was constructed through wireframing of nine individual quartz-carbonate- sulphide veins. Gold mineralisation wireframes within the veins were modelled, and high- grade subdomains within the mineralised shells defined. A fault system was applied to the Vein, Mineralisation and High-Grade Subdomain systems that comprise three D3 east-west trending faults/shears. ASX: ABR | albrightmetals.com 9 Cut-off grade for gold for the mineralised wireframes is nominally 0.5 g/t Au with occasional waste included internally where the intercept is all the same vein and the centre of the vein is barren, or rare inclusions for vein continuity between broader spaced drill holes where veining is logged. True thickness of the veins ranges from 0.5 m to 5 m. No minimum mining width has been assumed for the Mineral Resource modelling. Minimum mining widths (assuming narrow high-grade underground mining methods) will be applied for optimisation studies with dilution accumulated as required to achieve minimum widths. DRILLING TECHNIQUES AND HOLE SPACING The Vail Road Gold Deposit has been drilled entirely with diamond core holes. Initial drilling was conducted by Fosters in joint venture with Noranda between 1994 and 1996. During this period, 56 holes for 4,493.2 m of NQ diameter core were drilled, largely focused on the northeast portion of the Parallel Zone (formerly known as the Baxter Zone) and the Main Zone (formerly known as the Boyd Zone). Diamond holes were drilled singularly on a section or as fans, often with multiple holes collared on one drill pad. Between 2007 and 2012, Rockport was active on the project. Rockport completed drill campaigns in 2007, 2008, 2011 and 2012. In total 68 diamond core holes at NQ diameter for 16,405.8 m were drilled during these years, including a couple of depth extensions on drill holes completed by Fosters and in its own earlier campaigns. Rockport maintained a systematic sectional drill pattern with exception of occasional scissor holes on the periphery of the deposit. Albright Metals drilled 15 holes for 1,022.5m HQ diameter diamond core in late 2025. Drilling was designed to verify results of previous drilling at the project, as well as for oriented drill core so that structural measurements could be obtained to add confidence to the geological interpretation for the deposit. Specific gravity (SG) data for rock density determination was also collected during the 2025 drill program, resulting in a density dataset of 327 Archimedes method5 SG determinations to supplement the existing 10 pycnometry specific gravity measurements. Between 1994 and the end of 2025 there have been 139 diamond core holes drilled at the project, for a total of 21,921.5 m of drilling. The predominant orientation for drilling at Vail Road Gold Deposit is -45˚ dip towards a true north azimuth of 115 to 119˚. Current drill spacing through the deposit is: • At, or closer than, 15 m pierce points along 75 m strike at the east end of the Main Zone, down to a depth of 100 m below ground level. The west end of the Middle Zone has similar drill density over a small strike extent around 30 m long. • The west end of the Parallel Zone is drilled to about 25 m drill spacing, down to a depth of 100 m, with some pairs of holes closer at 15 m. • At depth and to the east, the drill spacing in the Parallel zone is around 40 to 50 m, and similarly the east end of the Parallel Zone and Middle Zone and the Main Zone at depth are drilled to about 40 to 60 m spacing between drill hole pairs. 5 Archimedes Method SG = Weight of sample in Air / (Weight of sample in Air - Weight of sample in Water) ASX: ABR | albrightmetals.com 10 Drill core recovery through all campaigns was good, with only rare intervals of core loss. SAMPLING AND SUB-SAMPLING TECHNIQUES Diamond core holes were selectively sampled based on presence of quartz veining and sulphides for all drill campaigns. NQ core from Fosters and Rockport programs was cut in half with a drop saw. Half core samples were submitted for assay, with half core retained in archive for both operators. For Albright HQ core, the samples were cut into quarter core using a drop saw, with a quarter submitted and three quarters retained in archive. Rockport programs included some quarter core sampling where two quarters from the same interval were submitted as separate samples for field duplicates from 2008 onwards. For Albright Metals’ sampling, two of the four analysis batches had coarse crush duplicate splits taken for every 15th sample, with analysis run on two splits of the same quarter core sample to check for repeatability of results and laboratory splitting techniques. SAMPLING ANALYSIS METHODS Samples from Fosters drilling in the 1990s were analysed for gold by fire assay with Atomic Absorption Spectrometry (AAS) finish or Gravimetric finish. Screen metallic analysis were also run on some samples, on samples already analysed with fire assay with Gravimetric finish. The screen metallics analysis was run as a program to test effective gold determination with the fire assay methods due to high nugget effect in the deposit. Results from the screen metallics verified the fire assay with Gravimetric finish was largely producing repeatable results. Fosters drill samples were analysed for gold and silver. Rockport analysed for gold with fire assay with AAS or Gravimetric finish and by Instrumental Neutron Activation Analysis (INAA) for some holes completed in 2008. Rockport commissioned multi-element analysis for a suite of elements including gold, silver, copper, lead and zinc, deleterious elements and gold pathfinders, plus others, with an aqua regia digest and ICP-AES finish or total digest (4 acid) and ICP finish, or by INAA. A comprehensive multi-element dataset was analysed for Rockport drill campaigns. Albright Metals analysed for gold with fire assay with AAS finish with over-detection limit resolution on high grade samples by fire assay with Gravimetric finish. A 48-element suite was also analysed using total digest (4 acid) and ICP-AES finish. Analysis was completed on samples that were dried, crushed to 80 percent passing 2mm, sub-split and pulverised to 95 percent passing 105µm at the commercial laboratory. Both the laboratory and Albright Metals have submitted Certified Reference Materials (CRMs) and blanks with the batches. Rockport completed systematic QAQC sample insertion from 2008 onwards. Fosters did not undertake QAQC sample insertion but did conduct check assays on the significant gold values by various methods of analysis. CUT-OFF GRADES For wireframe creation for the Vail Road Gold Deposit for this Mineral Resource, wireframes were created in Seequent Leapfrog Geo™ using the Vein System function within a Fault System model, at 0.5 g/t Au grade and above. Some minor inclusions of grade below 0.5 g/t were accepted where lithology logging indicated the entire interval was within the quartz veining hosting the mineralisation, and where the internal waste ASX: ABR | albrightmetals.com 11 was required to support continuity of the geological model domaining. High grade internal sub-domains were modelled in Vein 1 (Main Zone), Vein 9 (Middle Zone) and Vein 3 (Parallel Zone) due to internal continuous zones of very high-grade gold (greater than 7 g/t Au, up to multiple ounces per tonne Au). For reporting of this Mineral Resource in accordance with the JORC 2012 code, the cut-off grade is 2 g/t Au. ROCK DENSITY The dataset of ten existing pycnometry specific gravity (SG) measurements on drill pulps (commissioned by Rockport) is now supported with 327 Archimedes method SG determinations on Albright 2025 core drill holes. The complete dataset has been analysed for the density of the deposit lithologies. For this Mineral Resource the following values are applied: - 2.84 for basalt waste rock; - 2.70 for quartz-carbonate-chlorite vein waste rock; - 2.73 for quartz veins with gold grade between 0.3 and 1.0 g/t Au; - 2.74 for quartz veins with gold grade between 1.0 and 10.0 g/t Au; and - 2.77 for quartz veins with gold grade greater than 10.0 g/t Au. A scale of increasing specific gravity for the veining based on increasing gold values is appropriate as there is a positive correlation between gold grade and heavy sulphide component of the quartz veining. ESTIMATION METHODOLOGY The estimation has been completed using Surpac GEOVIA™ software. Statistical analysis for block size, discretisation points within blocks and composite statistics was completed in Surpac GEOVIA™. Samples were composited to 1 m length following statistical review of raw sample interval lengths. Samples with gold values greater than or equal to 0.5 g/t Au at the Vail Road Gold Deposit have a mean length of 0.88 m and a median length of 0.95 m. Outlier analysis for top-cut determination and down hole nugget effect was evaluated with top-cuts applied to Vein 1 outside the high-grade subdomain (8 g/t Au) and Vein 2 (2 g/t Au for the broader search ranges in pass 3 and pass 4 in the estimation). Estimation parameters were based on the individual vein variogram models, data geometry and kriging estimation statistics. Variogram models were run on the 1 m composites in Isatis Neo™. The estimation for gold was run with ordinary kriging, resolved into 5 m (E) x 2 m (N) x 5 m (RL) parent cells that had been sub-celled at the vein boundaries for accurate domain volume representation. Gold and copper were estimated in four passes, with the consecutive passes using optimum search distances of 10 m, 20 m and 40 m. A final pass used a large search distance in order to populate all remaining blocks. CLASSIFICATION CRITERIA The Mineral Resource is classified as Indicated category where drill spacing is less than or equal to 25 metres between mineralisation intercepts along a geologically continuous domain. Indicated category is restricted to the shallow and eastern portion of the Main ASX: ABR | albrightmetals.com 12 Zone, the western extent of the Middle Zone and a shallow portion (to 100m depth) in the western end of the Parallel Zone. These areas have the closest drill spacing, and vein interpretation implies good geological continuity. Inferred category is applied to portions of the deposit that have drill spacing between 25 and 60 m between mineralisation intercepts where geological continuity is implied due to linear vein continuity and consistent grade profile within the mineralised portions of the veins. Reasonable Prospects of Eventual Economic Extraction (RPEEE) is considered via: - Tenure – the Vail Road Gold Deposit is within mineral claim 7616 that is in good standing, owned by Globex, with Albright Metals’ holding an option to acquire claim. It is reasonable to expect the option will be fulfilled, with Albright Metals acquiring ownership of the claim and mining can be permitted in the stable jurisdiction of New Brunswick, Canada. - Approvals – New Brunswick has a clearly defined process for gaining approvals to mine. There is no known impediment to approvals being applied for and assessed resulting in permitted mining. - Environment – baseline studies, including site characterisation and assessments, have been undertaken, with no environmental issues that would impede mining approvals found to date. - Mining – underground stope optimisation on the RPA estimation was completed as part of Albright Metals’ due diligence for the option agreement. Results from the optimisation outlined numerous scenarios where mining was cash-positive on financial modelling of an underground development with minimum stope width of 1.5 m. Scoping Study level optimisation work is scheduled to commence on this updated Mineral Resource based on the same underground development strategy. - Metallurgy – test work for gravity separation and cyanide leach processing is scheduled to commence in early 2027. Assessment of multi-element analysis of drill core indicates that the gold is not likely to be refractory, with free gold visible in core in the better mineralised portions of the deposit. It is likely gold is amenable to extraction using conventional processing techniques. - Processing – the high-grade nature of the deposit is amenable to transport of mined material to existing processing plants in Canada. Transport costs and sale of mined material or toll treatment options are included in financial modelling for the previous and upcoming optimisation and financial modelling studies. This 2026 Mineral Resource is reported at a 2 g/t Au cut-off. The cut-off grade applied to this 2026 update reflects the higher gold price in 2026 (relative to the 2011 Foreign Estimate by RPA) and considers overall grade of the veins with higher grade portions of the deposit able to support lower grade portions for an economic extraction grade using narrow vein underground mining methods. The estimation is assigned to Unclassified Mineral Resource (and not reported herein) where drill spacing and geological interpretation limitations result in low confidence in the continuity and tenor of the gold grade, and/or the gold grade is less than 2 g/t Au. ASX: ABR | albrightmetals.com 13 MINING AND METALLURGICAL METHODS AND PARAMETERS There has been no previous production at the Vail Road Gold Deposit, so no reconciliation data is available. The deposit geometry is most amenable to underground narrow high-grade gold mining, with specialist mining services in Canada able to stope to minimum widths of 1.5 m. Further mine studies are planned for the deposit in work scheduled for the remainder of the 2026 calendar year. Previous studies by RPA included review of open pit mining scenarios that did not optimize at the gold price in 2011. Minerals associated with gold mineralisation at the Vail Road Gold Deposit include pyrite, chalcopyrite and rare galena and sphalerite. There is also carbonate, chlorite and sericite alteration of the host basalt units. The deposit is largely devoid of arsenopyrite and pyrrhotite and there are no indications that the gold is refractory. Visible gold is common in the highest-grade portions of the deposit. It is expected that gold will be amenable to extraction using conventional gravity and cyanide leach processing. A test work program is planned for 2027 to determine processability and gold recovery using these processing techniques. NEXT STEPS Building on the work from this Mineral Resource update, Albright Metals plans to undertake the following technical workflow to progress the project towards gold production: - Complete Scoping Study work on a development pathway and financial model for the Vail Road Gold Deposit. - Plan and undertake additional drilling at the Vail Road Gold Deposit, focusing on infill of mineralisation that is part of the Scoping Study mine life as required, and targeting additional high-grade mineralised zones. - Undertake metallurgical test work programs for processability of mineralisation. - Scope and plan additional drilling at other gold prospects within the Golden Pike Project, with aim to add to the gold Mineral Resource inventory. In parallel with the development pathway for the Vail Road Gold Deposit, Albright Metals continues to see value and opportunity in ongoing exploration for gold and