Quarterly Activities and Cashflow Report (September 2026)

Reynolds Range Gold-Antimony Project

• Stage 2 of the 2026 RC drilling program completed during the quarter, with 19 holes for 3,002m drilled at the Sabre and Falchion Prospects between 29 July and 25 August 2026, bringing the 2026 program to 34 holes for 4,610m

• Best drill intercept at the project to date returned from Sabre: 36m @ 5.60 g/t Au and 1.2% Sb from 81m in SBRC26-001, including 8m @ 13.41 g/t Au and 1.9% Sb from 104m (ASX: ITM 6 August 2026)
• Falchion confirmed as a second zone of high-grade gold-antimony mineralisation ~1.6km west of Sabre, including 9m @ 2.51 g/t Au (FLRC26-001), 6m @ 3.31 g/t Au (FLRC26-002) and a new antimony zone of 8m @ 0.95% Sb (FLRC26-009) (ASX: ITM 12 August 2026)
• Soil sampling returned peak values of 12.1 g/t Au (Sabre) and 9.1% Sb (Falchion) and validated pXRF as a rapid first-pass targeting tool (ASX: ITM 8 July 2026)
Subsequent to quarter end
• Sabre Shoot 1 extended from ~100m to ~270m below surface, open at depth: 25m @ 4.88 g/t Au and 0.85% Sb from 242m (SBRC26-017) (ASX: ITM 6 October 2026)
• Second gold shoot (Shoot 2) identified ~120m south of Shoot 1: 29m @ 2.36 g/t Au from 81m (SBRC26-008) (ASX: ITM 6 and 13 October 2026)
• Falchion eastern antimony zone extended, including 6m @ 1.64% Sb (FLRC26-010), and the deepest gold intercepts at Falchion to date, including 6m @ 2.14 g/t Au and 1.04% Sb (FLRC26-014) and 3m @ 2.29 g/t Au from 129m (FLRC26-013) (ASX: ITM 15 October 2026)
• Due to early onset of the wet season in the Northern Territory and lack of availability of suitable drill rigs, diamond drilling is now scheduled to commence at Sabre early in the new year to test Shoot 1 at depth

Corporate
• Cash at bank of $3.0 million at 30 September 2026