Historic Drilling

·     Historic drill programs have been conducted by multiple companies and methods the historically reported results are being reviewed prior to any broader reporting of results. In general, lab assay results across differing programs show comparable tenors of grade and distribution.

Cobra Resources

RC Drilling (2026)

·     RC drill cuttings were collected from the drill rig cyclone in 1 m intervals in industry standard green bags, with a 2 m representative split from the cyclone collected into a calico bag. The green and calico bags were arranged in rows on site for sampling and assaying.

·     2 m samples were split using a cone splitter mounted on the drill rig.

·     2026 January-February samples were submitted to BV Laboratories, Perth for geochemical analysis.

Diamond Drilling (2026)

·     HQ sized diamond core was cut and half core sampled.

·     Sampling was generally kept to 1m intervals but adjusted to honour geological boundaries.

·     2-4kg half core samples were submitted to ALS Laboratories for geochemical analysis.

Slimline RC and Aircore Drilling (Current Program)

·     RC drill cuttings are being collected from the drill rig cyclone in 1 m intervals in industry standard green bags, with a 2 m representative split from the cyclone collected into a calico bag. The green and calico bags were arranged in rows on site for sampling and assaying.

·     2 m samples are being split using a cone splitter mounted on the drill rig.

·     Samples are being submitted to ALS Laboratories, Perth for geochemical analysis.

·     The current drill program was intended to be slimline RC drilling. Where difficulties with drilling occurred due to ground conditions, the drilling technique was switched to aircore blade drilling to progress drilling.  The drill type was switched back to slimline RC once ground conditions allowed.

Historic Drilling

·     Historic drill methods were predominantly aircore and RC drilling with some diamond drilling reported.

Cobra Resources

RC Drilling

·     Schramm T685 RC rig operated by Bullion Drilling Pty Ltd. The RC drilling was conducted using a 5 ¾-inch hammer. A booster air compressor was used throughout the program.

Diamond Drilling

·     UDR 1000 drill rig operated by MJ Drilling Pty Ltd. The diamond drilling was conducted using HQ sized core from surface (except one hole which re-entered a previously drilled RC hole to continue as a diamond tail).

·     HQ core samples were collected from the diamond drill rig from nominal 3 m drill runs and placed into industry standard core trays. 

·     Where broken ground was intersected, run lengths were reduced as appropriate.

Slimline RC Drilling (Current Program)

·     Slimline RC drilling utilized a 89mm hammer bit, ensuring a 12-15kg sample was collected per meter.

·     AC drilling utilized a 85mm blade bit and a 89mm hammer bit, ensuring a 12-15kg sample was collected per meter.

Historic Drilling

·     Recoveries have not been assessed.

·     Drill methods and geological conditions are not expected to promote significant reduced recovery or sample biasing

Cobra Resources

RC Drilling

·     Bulk RC samples were visually assessed and considered to be representative with good recoveries. Recoveries were recorded onsite into Cobras MX Deposit database.

·     Water was intersected in several drillholes. Where outside return was lost and sample recovery reduced. Recovery estimates recorded into the companies database. Shroud tolerance was managed to optimise recovery.

·     No relationship was identified between sample recovery and grade.

Diamond Drilling

·     Core blocks were utilised by the drill contractor to indicate where core loss occurred.

·     Core recovery was measured as part of the RQD logging process and recorded onsite into Cobra's MX Deposit database.

·     No relationship was identified between sample recovery and grade.

Slimline RC & Aircore Drilling (current program)

·     Bulk RC samples are being visually assessed and considered to be representative with good recoveries. Recoveries are being recorded onsite into Cobras MX Deposit database.

Historic

·     Historic logging has been completed with a number of different geological logging codes. These are being translated into a standardized logging format prior to entry into the Cobra Drillhole Database.

Cobra Resources

·     All holes are qualitatively and quantitatively logged for their entire length by suitably qualified Cobra geologists and recorded onsite into Cobra's MX Deposit database.

·     Qualitative logging included geology, alteration, mineralisation, weathering etc.

·     Quantitative logging included magnetic susceptibility, structural and RQD measurement recording (for diamond core).

·     Mineral Resources have not been estimated; however, the quality of the logging is expected to be suitable for low-confidence resource estimation purposes.

·     The detail of geological logging is considered sufficient for exploration and resource definition drilling.

·     Logging included visual estimates for copper oxides and sulphides as well as pyrite content

·     All intersections were logged.

Historic

·     Historic sampling has not been assessed.

Cobra Resources

RC Drilling

·     A Metzke cone split 2m composite sample was collected in a calico bag. A portable XRF unit was used as an initial evaluation of Cu mineralisation.  However, entire holes were sampled.

·     Weights of samples submitted for assay were a nominal 2-3kg Sample size and considered appropriate for the material sampled.

Diamond Drilling

·     HQ diamond core was cut, and half core sampled.  This is considered appropriate for the material sampled.

Slimline RC & Aircore Drilling

·     A cone split 2m composite sample are collected in a calico bag. A portable XRF unit is being used as an initial evaluation of Cu mineralisation.  However, entire holes are being sampled.

·     Weights of samples submitted for assay are a nominal 2-3kg Sample size and considered appropriate for the material sampled.

All Sampling

·     Commercially certified reference material of known copper grades and of suitable matrix were included in the laboratory assay sequence at a rate of 1 per 50 samples.

·     First-split duplicate samples were collected at a rate of 1 per 50 samples.

·     A coarse blank sample was inserted 1 in every 50 samples.

·     The Competent Person considers that the sample size is appropriate to the grain size of the material being sampled.

·     Laboratory processing involved oven drying, crushing and pulverising to obtain a representative sub-sample of the material supplied

Historic

·     Lab certificates for a large number of drill samples have been retained from historic drilling. These certificates will be used for the import of data into Cobra's drillhole database.

Cobra Resources

RC Drilling

·     All samples were managed for the potential presence of asbestiform mineral fibers namely serpentine and chrysotile.

·     59 element assays were completed by Bureau Veritas (BV) Laboratories, (analytical method MA101 and MA102) for all drill samples, using a four-acid digest from a 25g sub-sample, and ICP-MS & ICP-AES.

·     Au assays were completed by BV Laboratories (analytical method FA001), 40g fire assay and AAS was undertaken on all samples.

·     Standards and blanks were inserted by Cobra (the company), with no issues observed with sample precision (standards) or bias (blanks).

·     Lab internal blanks and standards were within accepted norms.

Diamond Drilling

·     All samples were managed for the potential presence of asbestiform mineral fibers namely serpentine and chrysotile.

·     60 element assays were completed by ALS Laboratories, (analytical method ME-MS61r) for all drill core samples, using a four-acid digest from a 0.25g sub-sample, and ICP-MS & ICP-AES.

·     Au assays were completed by ALS Laboratories (analytical method Au-AA26), 50g fire assay and AAS was undertaken on all core samples.

·     Standards and blanks were inserted by Cobra (the company), with no issues observed with sample precision (standards) or bias (blanks).

·     Lab internal blanks and standards were within accepted norms.

Slimline RC & Aircore Drilling

·     All samples are being managed for the potential presence of asbestiform mineral fibers namely serpentine and chrysotile.

·     48 element assays are being undertaken by ALS Laboratories, (analytical method ME-MS61) for all samples, using a four-acid digest from a 0.25g sub-sample, and ICP-MS & ICP-AES.

·     Au assays will be completed by ALS Laboratories (analytical method Au-AA26), 50g fire assay and AAS was undertaken on all samples.

·     Standards and blanks are being inserted by Cobra (the company), with no issues observed with sample precision (standards) or bias (blanks).

·     Lab internal blanks and standards are undertaken and results assessed but Cobra Resources.

Historic

·     Reported significant intercepts have been reported to the Australian Stock Exchange in the past.

·     Primary assay data and drill logs for reported holes have been reviewed by Cobra staff.

·     Further migration of historic data into the Cobra drillhole database is underway with validation during this process to be undertaken.

Cobra Resources

·     Significant intercepts were validated and reviewed by at least two Cobra Resource's Geologists.

·     No twinned holes have been drilled by Cobra Resources.  However, drilling has occurred proximal to historic drilling and confirmed historically reported copper mineralisation.

·     Primary data and drill logs were captured in the field and recorded by Cobra staff, into a digital database (MxDeposit).

·     Assay results have not been adjusted other than the conversion of the '<' symbol to a '-' for importing into geological database.

Historic

·     Historic Drillholes were recorded with a number of different datums.

·     Validation of the datums used for each program have been conducted and are continuing.

·     The key historic drilling used for planning of the 2026 drill programs have high confidence in the datum used and have been assessed in the field.

Cobra Resources

·     Drill hole locations were determined by handheld GPS with a nominal accuracy of +/- 5 metres.

·     All coordinates and maps presented are in the MGA Zone 54 GDA94 coordinate system.

·     Topographic control is provided by Aerometrex Reigel VQ-780ii Airborne Laser Scanner producing LiDAR digital elevation data at 0.1m accuracy with collar heights extracted from a DTM produced from the LiDAR data.

·     Downhole surveys for RC and diamond drillholes were undertaken by a multi-shot camera and/or gyro.

·     No downhole surveys were undertaken for slimline RC or aircore holes.

·     Magnetic declination for the project area is 8.2 degrees east.

Historic

·     Historic drilling was variably spaced. The drill spacing was sufficient to define mineralisation trends at the Blue Rose Skarn but not to the extent of defining a resource.

Cobra Resources

RC Drilling

·     RC holes were drilled angled south along heritage cleared 'drill access tracks' or adjacent to pastoral tracks.  Holes were designed to assess continuation of historically intersected copper mineralisation laterally and at depth.

·     Two metre composite samples were collected for geochemical analysis.

Diamond Drilling

·     Angled diamond holes were drilled in various orientations, positioned to assess extensions to known mineralisation, in addition to assessing untested prospective zones of the geological model. 

·     Results are indicative and require further drilling to fully assess the significance of the intercept/s.

Slimline RC & Aircore Drilling (current program)

·     Holes are generally drilled angled south along heritage cleared 'drill access tracks' or adjacent to pastoral tracks.  There were a couple holes at Blue Rose drilling to the north and the drilling at Anabama Hill and Netley Hill are in various orientations as first pass drill testing.

·     Holes were designed to assess continuation of historically intersected copper mineralisation laterally, and also designed to assess for repeat prospective calc-silicate/skarn lithologies to the south-west and to the north of Blue Rose.

·     Two metre composite samples are being collected for geochemical analysis.

·     The mineralised skarn unit is orientated approximately east-west, with possible repeated units.

·     Drillholes have generally been vertical or south dipping, perpendicular to the strike of the skarn host unit.

·     Deeper historic drilling has been south dipping.

·     Mineralisation is interpreted to be steeply dipping with limited success to date in identifying a slight north or south dip.

·     Deeper planned drilling is designed to improve the definition of mineralisation control.

·     Further diamond drilling is expected to validate geological interpretations.

Cobra Resources

2026 Drilling

·     No issues with sample security were reported or are expected to have occurred.

·     RC sample bags were tied upon collection and stored in polyweave bags until delivery direct to the assay laboratory by a contracted third-party transport company.

·     Diamond core was stored in industry standard core trays, stacked on pallets and strapped for transport.  A third party contract transport company collected the samples and delivered them to Challenger Geological Services Pty Ltd, where they were cut and sampled.  Sampled material was placed into calico bags, double bagged in green plastic bags in the cause of hazardous fibrous material, and stacked on pallets and wrapped for transport.  These were then transported by a contracted transport company directly to ALS laboratory for geochemical assessment.

·     Slimline RC & Aircore sample bags are being tied upon collection and stored in polyweave bags until delivery direct to the assay laboratory by a contracted third-party transport company or transported by Cobra Resources staff.

·     No audits or reviews of sampling techniques or data have been undertaken.