Major Regulatory Milestone Secured at Idenburg Gold Project

This PIPPIB approval reclassifies the designated area to Production Forestry, a critical regulatory step that unlocks the pathway to environmental permitting, operational licensing and future mine development.

HIGHLIGHTS

· 9,000 ha of PIPPIB forestry reclassification approved, de-risking the project and providing regulatory certainty.

· Idenburg Project covers 95,280 ha under a 6th Generation CoW (Contract of Work), strategically located in the same province as world-class gold and copper deposits such as Grasberg mine (+70 Moz Au), Porgera Gold Mine (+20 Moz Au), Frieda River (20 Moz Au) and Ok Tedi Mine (20 Moz Au).

· JORC Inferred Resource: 540,000 oz Au at 4.1 g/t and 468,000 oz Ag at 3.6 g/t.

· Direct access to infrastructure via the Trans-Papuan Highway, enhancing logistical efficiency for development.

· Drilling program underway: 32 holes (3,670 m) targeting expansion of high-grade zones.

STRATEGIC IMPORTANCE OF THE RECLASSIFICATION

The PIPPIB reclassification encompasses the core development corridorof the Idenburg Project, enabling the Company to:

· Advance seamlessly into AMDAL environmental permitting and subsequent mining approvals (IUP OP);

· Lock in long-term tenure security over the key resource and infrastructure zones;

· Fast-track the transition from exploration to development while maintaining compliance with Indonesian forestry and mining law.

This is a pivotal milestone that materially de-risks the permitting process and validates the strategic potential of Idenburg as one of Indonesia’s premier emerging gold projects.