High-Tech Metals Advances Mt Fisher with High-Grade Wagtail Drilling and $10.7M Boost

Wagtail Drilling Validates High-Grade Gold Continuity

High-Tech Metals has delivered compelling drilling results at its Wagtail gold deposit within the Mt Fisher Project, confirming the presence of a robust, high-grade gold system. The recent 65-hole, 3,323-metre reverse circulation (RC) infill and grade-control program returned standout intersections including 5 metres at 44.41 g/t Au (with a 1-metre bonanza grade of 220.8 g/t Au) and 12 metres at 8.81 g/t Au. These consistent bonanza-grade results reinforce confidence in geological continuity and underpin ongoing resource updates and development studies. The deposit’s location on a granted mining lease and funding of mining activities by SSH Mining reduce capital risk, while a non-binding Memorandum of Understanding (MoU) with Wiluna Mining advances toll-treatment options, offering a capital-efficient processing pathway.

Drilling also extended mineralisation beyond the current resource model, indicating potential for resource growth. This progress builds on earlier high-grade intersections reported in January and February 2026, confirming Wagtail as a near-term production opportunity within the broader Mt Fisher portfolio. The company’s strategic partnership with SSH Mining continues to fund pre-development work, including metallurgical testwork, mine design, and permitting, accelerating the project toward production readiness.

Mt Fisher Drilling Targets Significant Resource Expansion

Parallel to Wagtail’s advancement, High-Tech Metals has commenced a ~5,000-metre RC drilling campaign at the Mt Fisher deposit aimed at expanding and upgrading its existing 35,000-ounce JORC resource. An independent geological review revealed a substantial gap between known mineralised intercepts and the current resource footprint, with the mineralised basalt–sediment contact extending over 7 kilometres; far beyond the 600-metre strike length currently defined. The drilling program targets high-grade shoot extensions and under-drilled zones to the north and south of the historic Mt Fisher pit, which produced approximately 30,000 ounces at 4.43 g/t Au in the late 1980s.

This campaign represents a critical step in unlocking the broader potential of the Mt Fisher greenstone belt. The program’s objectives include extending mineralisation along strike and at depth, testing down-plunge continuity, and infilling drilling gaps to improve resource confidence. Early results are anticipated in the June quarter, with the potential to materially increase the project’s resource base and support a multi-deposit production profile. This drilling initiative follows recent technical reviews highlighting significant upside beyond the current resource model, positioning Mt Fisher for meaningful growth within High-Tech’s portfolio. The company’s focus on resource expansion at Mt Fisher complements its near-term production push at Wagtail, reflecting a balanced approach to development and exploration. This drilling campaign was detailed in the recent 5,000m RC drilling underway and High-Tech Metals Set to Expand High-Grade Gold announcements.

Balance Sheet Strengthened by $10.7 Million Option Exercise

High-Tech Metals significantly bolstered its financial position during the quarter, receiving approximately $10.7 million from the exercise of over 42.9 million listed options. This capital injection provides the company with enhanced flexibility to accelerate development at Wagtail and Mt Fisher, fund resource growth drilling, and support broader exploration across the Mt Fisher–Mt Eureka project area. Additionally, a placement of 3 million shares raised $750,000, further strengthening working capital. This improved funding position underpins High-Tech’s strategy to transition from exploration to production while maintaining a disciplined approach to pipeline growth and resource expansion.

Mt Eureka JV and Broader Exploration Pipeline

Beyond Mt Fisher, High-Tech Metals continues to develop its Mt Eureka Gold Joint Venture, where it holds a 75% interest. The northern portion of the greenstone belt hosts multiple advanced prospects, including Mt Eureka, Southern-Galway, and Taipan. Work during the quarter focused on target generation, technical reviews, and prioritising drill-ready targets to support longer-term resource growth. This exploration pipeline complements the company’s near-term production ambitions and offers potential for future resource additions within a highly prospective but under-explored gold belt east of the prolific Yandal region.

Development Studies and Processing Agreements Reduce Execution Risk

High-Tech Metals’ approach to advancing Wagtail toward production is underpinned by a suite of development studies conducted in collaboration with SSH Mining, which is funding mining and pre-development activities under an existing agreement. These studies include mine design, metallurgical testwork, permitting, and scoping-level financial assessments. The company’s MoU with Wiluna Mining to explore toll-treatment options offers a capital-light processing solution, materially reducing the upfront investment typically required for project development. This strategic framework aims to fast-track Wagtail’s path to production while preserving upside exposure across the broader Mt Fisher–Mt Eureka project portfolio.

The company expects to release an updated Mineral Resource estimate for Wagtail in the June quarter, alongside ongoing metallurgical and mine design results. Early outcomes from the Mt Fisher drilling program will also provide critical insights into resource growth potential. These milestones will be closely watched as High-Tech Metals seeks to convert exploration success into tangible production and cash flow.