Patronus Reports 13m @ 3.71g/t Au at Mertondale and 10.76m @ 2.95% U3O8 at Thunderball

Exploration Momentum Builds in Western Australia

Patronus Resources has delivered a compelling update for the December 2025 quarter, reinforcing its position as a rising force in Australian gold and uranium exploration. The company’s Cardinia Gold Project in Western Australia continues to impress, with diamond and reverse circulation drilling at the Guppy prospect revealing significant gold mineralisation. Notably, intercepts such as 13 metres at 2.12 grams per tonne gold from 105 metres depth underscore the prospect’s potential. The Guppy zone remains open along more than one kilometre of strike, setting the stage for an aggressive follow-up drilling campaign in early 2026.

Meanwhile, the Mertondale Gold Project has confirmed extensions of high-grade gold mineralisation beyond existing resources. At the Merlin target, drilling returned standout results including 13 metres at 3.71 grams per tonne gold, extending mineralisation 1.5 kilometres north of known deposits. Similarly, the Gargamel prospect has been extended 500 metres south of Merton’s Reward, revealing shallow gold zones that could add to the project’s resource base. These findings not only validate the geological model but also highlight the potential for further resource growth along the 10-kilometre Mertondale Shear Zone.

Northern Territory – New Frontiers in Gold and Uranium

Patronus’s Northern Territory tenure, spanning over 1,500 square kilometres in the Pine Creek Orogen, has yielded promising early-stage results. Surface sampling programs have delineated multiple large-scale gold anomalies across several target areas including Northern Leases, Burnside North, and Golden Dyke. These anomalies, some extending over several kilometres, have been identified in structurally favourable settings and will be the focus of detailed infill sampling and mapping in 2026 to generate drill-ready targets.

On the uranium front, the Thunderball Project has delivered exceptional high-grade results from a recent diamond drilling program. A highlight intercept of 10.76 metres grading 2.95% uranium oxide, including a 3-metre section at an extraordinary 9.7%, confirms the deposit’s robust mineralisation and supports a new geological model categorising Thunderball as a Proterozoic unconformity replacement deposit. This style is known globally for hosting some of the largest and highest-grade uranium deposits, positioning Thunderball as a potentially strategic asset. Patronus is actively exploring partnership and strategic options to unlock value from this uranium discovery.

Financial Strength and Strategic Outlook

Backing these exploration successes is a strong financial foundation. Patronus ended the quarter with $74.6 million in cash and liquid investments, including term deposits and strategic shareholdings. This robust balance sheet provides the company with the flexibility to accelerate its exploration programs and pursue value-accretive opportunities across its portfolio.

Chief Executive Officer John Ingram emphasised the company’s positive trajectory, noting the momentum gained from recent drilling and sampling results. With follow-up drilling planned at key prospects and systematic target ranking underway, Patronus is poised to expand its resource base and enhance shareholder value in the coming year.