Ardea Resources Completes Goongarrie South Infill Drilling Programme

• 230 RC holes completed for 16,234m with 249 significant intercepts recorded in 195 holes
• High-grade results include 34m at 1.75% Ni, 0.43% Co from 12m and 26m at 1.48% Ni, 0.21% Co from 22m
• Goongarrie South confirmed as highest-grade Ni-Co deposit within the Kalgoorlie Nickel Project
• Mineralised neutraliser identified, potentially reducing third-party neutraliser requirements
• Infill drilling completed in support of updated mineral resource estimates and definitive feasibility study

Ardea Resources (ASX:ARL) is a nickel development company operating the Kalgoorlie Nickel Project through joint venture arrangements with Sumitomo Metal Mining and Mitsubishi Corporation. The company holds Australia's largest nickel-cobalt resource at 854Mt containing 6.1Mt nickel and 386kt cobalt. Ardea maintains 82.5% interest in the Goongarrie Hub through Kalgoorlie Nickel Pty Ltd, with the Japanese consortium funding the $98.5M definitive feasibility study. The company also holds 100% interest in the Kalpini Hub containing 2.1Mt nickel.

Infill Drilling Results & Resource Confirmation

The infill drilling programme at Goongarrie South recorded 249 significant intercepts (>0.5% Ni over at least 2m) from 195 of 230 holes drilled. Notable intercepts include 34m at 1.75% Ni, 0.43% Co from 12m depth, 26m at 1.48% Ni, 0.21% Co from 22m, and 26m at 1.30% Ni, 0.18% Co from 14m. All holes were drilled vertically with samples assayed at 2m intervals.

The drilling was designed to upgrade laterite resources to Measured category for the first five-year open pits, supporting conversion to Proven Ore Reserve as part of the definitive feasibility study. Results confirm the deposit is dominated by premium goethite mineralisation, characterised as soft, free-digging material with low acid consumption properties. The mineralisation extends across a 7.5km strike length on granted mining leases.

Geological interpretation indicates the drilling intersected multiple thick zones of Ni-Co-Sc mineralisation, with many extending below previous pre-feasibility study pit shells. The continuity of mineralisation is controlled by variations in the ultramafic protolith and structural features, with higher grades typically associated with deeper fracturing and water movement within bedrock.

DFS Support & Mine Planning Advancement

The completed infill programme forms part of the ongoing definitive feasibility study managed by Kalgoorlie Nickel Pty Ltd. Geological interpretation and wireframing is underway for updated mineral resource estimates covering Big Four, Scotia Dam, Goongarrie South, and Highway deposits. The resource updates will incorporate detailed geometallurgy for bench-scale metallurgy programmes.

Following completion of mineral resource estimates, detailed resource optimisation and mine planning will define updated ore reserves. The Goongarrie South deposit is located immediately north and west of the proposed processing plant adjacent to the Goldfields Highway, approximately 70km northwest of Kalgoorlie-Boulder.

According to Managing Director Andrew Penkethman:

"These strong drilling results from Goongarrie South reinforce the Project's credentials as Australia's largest nickel-cobalt resource and support our DFS strategy of focusing on a high-grade development opportunity, adjacent to the proposed processing plant location."

The company notes the deposit's characteristics support optimised project payback and economics.

Mineralised Neutraliser Discovery

The drilling programme identified mineralised neutraliser at Goongarrie South, similar to material previously recognised at the Highway deposit. This neutraliser typically occurs at or below the base of mineralised profiles in saprock and may be sourced during open pit mining operations. Sourcing neutraliser on-site could reduce or eliminate third-party purchases and transportation requirements.

The company states this development may save on consumable costs and reduce CO2 emissions associated with transport. The successful identification of mineralised neutraliser may support deeper optimised pit designs, potentially capturing additional Ni-Co units. The company notes its location near the proposed processing plant could provide operating and capital cost benefits during early project stages.

Detailed geological interpretation and domain modelling continues to define the thickness and extent of mineralised neutraliser. The material is intended for use in the process plant to neutralise acid discharge, forming part of the metallurgical flowsheet development currently underway as part of the definitive feasibility study.

Next Steps

Ardea will provide updates on mineral resource estimates and metallurgy flowsheet development upon completion. The definitive feasibility study continues with Japanese consortium support, targeting enhanced ore reserve definition and optimised development plans. The company maintains its focus on establishing a multi-decade nickel operation exceeding 30,000tpa production capacity.

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