Middle Island Extends Bobija Gold-Silver System with Broad Polymetallic Intercepts

Bobija Drilling Reveals Extensive Polymetallic System

Middle Island Resources (ASX:MDI) has significantly expanded the footprint of its Bobija gold-silver-base metal project in Serbia following Phase 2 drilling results. The 17-hole reverse circulation program has linked previously separate mineralised zones into a continuous, shallow, sub-horizontal system covering approximately 80,000 square metres. The mineralisation remains open in multiple directions, with several high-grade intersections recorded at the edges of current drilling.

Highlights include broad intercepts such as 62 metres at 0.72g/t gold and 27.4g/t silver from 16 metres depth (hole BMLRC012), and 41 metres grading 1.03g/t gold and 52.9g/t silver from 1 metre (BMLRC022). These results confirm the presence of a polymetallic system carrying gold, silver, copper, lead, and zinc, enhancing the project's economic potential beyond historic lead-zinc-barite exploration that largely overlooked precious metals.

The company plans Phase 3 drilling to test extensions at the northern and southern limits of the current target area and to assess continuity between the Central, West, and North zones, aiming to further delineate this emerging shallow deposit.

Tisovik Soil Sampling Uncovers Large Polymetallic Targets

Complementing the drilling success at Bobija, an expanded soil sampling program at the nearby Tisovik area has identified multiple silver-lead-zinc-antimony anomalies across a six-kilometre strike. The program extended the Kozila soil anomaly by 300 metres to the north, now covering approximately 2 square kilometres.

Rock chip sampling has returned high-grade assays including up to 12.0g/t silver and 2.85% antimony, with visible stibnite crystals confirming robust antimony mineralisation. This supports Middle Island’s model for a large carbonate replacement deposit (CRD) system, a style increasingly sought after given antimony’s rising strategic importance as a critical mineral.

Priboj Project Advances with Infill Sampling Ahead of Drilling

At the Priboj Project, Middle Island completed infill soil sampling targeting copper and gold prospects, including Jelaca, Oglavak, Zabrnjica, and Beli Potok. The program aims to refine drill targets ahead of planned maiden RC drilling. Assay results are pending.

Corporate Updates and Financial Position

Middle Island held approximately $3.15 million in cash and listed investments as of 30 June 2026, providing a solid platform for ongoing exploration. The company reported exploration expenditure of $332,000 for the quarter and no mining production activities.

Executive Chairman Daniel Raihani has taken on day-to-day operational oversight following the resignation of CEO Peter Spiers, who is serving a three-month notice period. The Serbian leadership team has been bolstered with the appointment of Stefan Mojićević as Country Manager, alongside recent additions including Non-Executive Director Sanela Karic and a Strategic Advisor.

Exploration Portfolio and Regional Context

Middle Island’s Serbian portfolio spans 13 licences covering approximately 590 square kilometres within the Western Tethyan Mineral Province, a world-class geological region hosting major copper, gold, and silver deposits such as Zijin Mining’s Cukaru Peki and Rio Tinto’s Jadar projects. The Bobija and Priboj projects lie about 100 kilometres southwest of Belgrade, with Bobija’s historic workings and recent drilling highlighting significant polymetallic potential.

While no field work was conducted on Australian licences during the quarter, the company has initiated divestment processes for its Northern Territory copper-gold projects, with several parties reviewing data.