Announcement PDF Large Scale Gold Exploration at Riverina East 25-26 June 2025 ASX:VKA Disclaimer & Competent Persons Statements Disclaimer This presentation and any accompanying verbal presentation (together the Presentation) are confidential and have been prepared by Viking Mines Limited (Viking or the Company) and approved by the Board of the Company. The information contained in the Presentation (Information) is summary only and should be read in conjunction with any other documents provided to you by the Company. The Information is current as at 20 June 2025 and the Company does not undertake to provide any additional or update information, whether as a result of new information, future events or results or otherwise. By receiving the Presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer. The Company has prepared the Presentation based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Viking, or related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, agents or advisers (Agents) guarantee or make any representations or warranties, express or implied, as to or take responsibility for, the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Viking does not represent or warrant that this Presentation is complete or that it contains all material information about Viking or which a prospective investor or purchaser may require in evaluating a possible investment in Viking or acquisition of shares. To the maximum extent permitted by law, Viking and its Agents expressly disclaim any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of information contained in this Presentation, or otherwise arising in connection with it. Any forward-looking statements in this Presentation, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of Viking and which are subject to change without notice and could cause the actual results, performance or achievements of Viking to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and recipients of this Presentation are cautioned not to place undue reliance on such forward-looking statements. The information contained in this Presentation is for information purposes only, does not constitute investment or financial product advice (nor taxation, accounting or legal advice) and is not intended to be used as the basis for making an investment decision. In providing this Presentation, Viking has not considered the objectives, financial position or needs of any particular recipients. Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. This Presentation is not a prospectus, product disclosure statement or other offer document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Commission or any other foreign regulator) and is not, and does not constitute, an invitation or offer of securities for subscription, purchase or sale in any jurisdiction. In particular, this Presentation does not constitute an invitation or offer of securities for subscription, purchase or sale in the United States or any other jurisdiction in which such an offer would be illegal. The securities referred to in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly in the United States. The information in this Presentation is strictly confidential. It may not be disclosed, reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Viking. Competent Person’s Statements Information in this release that relates to Exploration Results is based on information compiled by Mr. Julian Woodcock, who is a Member and of the Australian Institute of Mining and Metallurgy (MAusIMM CP) – 305446). Mr. Woodcock is a fulltime employee of Viking Mines Ltd. Mr. Woodcock has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. The information in this announcement that relates to the Mineral Resource estimate and Pit Optimisation is derived from information compiled by Mr. Dean O’Keefe, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM, #112948), and Competent Person for this style of mineralisation. Mr. O’Keefe is a consultant to Viking Mines Limited, and is employed by MEC Mining, an independent mining and exploration consultancy. Mr. O’Keefe has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. The information contained in this report, relating to metallurgical results, is based on, and fairly and accurately represent the information and supporting documentation prepared by Mr. Damian Connelly. Mr. Connelly is a full-time employee of METS Engineering who are a Contractor to Viking Mines Ltd, and a Fellow of The Australasian Institute of Mining and Metallurgy. Mr. Connelly has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements. The information in this announcement that relates to the Underground Mining Study is derived from information compiled by Mr Ben Wilson, a Member of the Australasian Institute of Mining and Metallurgy (AusIMM, #222682), and Competent Person for the application of mine design parameters to the Global MRE. Mr Wilson has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Mr Wilson consents to the inclusion in the report of the matters based on the results in the form and context in which they appear. ASX:VKA vikingmines.com 2 Company Overview Corporate Snapshot ASX Code Share Price VKA $0.006 Board and Management Shares on Issue 1.328B (20 June 2025) Market Cap $8.0M (Undiluted) Top 20 (excl Dir) 50.75% Cash $3.4M (as at 31 Mar 25) Enterprise Value $4.6M Other Shareholders 37% Directors 12.25% Julian Woodcock Dr Julian Stephens Bevan Tarratt Chairman Managing Director & CEO Non-Executive Director Non-Executive Director Riverina East Gold Project • Historic First Hit Gold Mine with high-grade global Inferred MRE of 83.8kt at 7.0g/t Au for 19.0kozi Share Price Chart • Underground Mining Study completed $0.016 40.0 $0.014 35.0 $0.012 30.0 $0.010 25.0 $0.008 20.0 $0.006 15.0 $0.004 10.0 $0.002 5.0 $- - • Significant regional exploration potential along 25km strike of prolific Zuleika Shear Volume (m) Price (A$/share) Charles Thomas Canegrass Battery Minerals Project • Vanadium Magnetite deposit with nearby infrastructure • Global Inferred MRE of 146Mt at 0.70% V2O5, 31.8% Fe & 6.6% TiO2 (>0.5% V2O5 cut-off)ii • Pit Optimisation Study completed Narndee Project • Early-stage Gold and Base Metals exploration in the Murchison Region, WA ASX:VKA vikingmines.com i. ASX Announcement 20 January 2025 - VIKING DEFINES HIGH-GRADE GOLD MINERAL RESOURCE AT FIRST HIT MINE ii. ASX Announcement 20 November 2023 – VIKING RESOURCE UPDATE DELIVERS OVER 100% GROWTH AT CANEGRASS 3 RIVERINA EAST GOLD PROJECT 1 Diamond drill core shown is from hole VDD008 at the Riverina East Project Viking Mines Limited ASX Release 24 June 2021 VIKING RECEIVES FIRST DIAMOND RESULTS & SIGHTS VISIBLE GOLD 4 Riverina East Project Hunting Elephants in Elephant Country Large land package in well-established gold province Location • Centred around 100% owned historic First Hit Gold Mine with a high-grade global MRE of 19koz at 7.0g/t Aui • Located 4km East of Ora Banda Mining’s (ASX:OBM) Riverina Gold Mine & 40km from the Davyhurst Mill Scale • 480km2 land position • 25km of prospective strike of the Zuleika Shear • No bedrock drilling and lack of prior exploration activity ASX:VKA vikingmines.com i. ASX Announcement 20 January 2025 – Viking Defines High-Grade Gold Resource at First Hit Mine 5 Riverina East Project First Hit Mine Historically Produced ~30koz Au at ~7.7g/t Aui, with 19koz at 7.0g/t Auii remaining • Closed in 2002 when the gold price was <US$325/oz (now 10x) • Granted Mining Lease & significant infrastructure in place, with decline down to ~220m below surface (~$15M value) • Substantial high-grade unmined interceptsiii including; • 4.9m @ 64.8 g/t Au from 62.1m (FHU045) • 3m @ 77.6 g/t Au from 224.0m (BFH030) • 4m @ 26.1 g/t Au from 58.0m (BFH005) • Mineralisation remains open down plunge • Underground Mining Studyiv delivered Inferred Resource of 53.1kt at 7.2g/t Au for 12.4koz constrained within a mine design (>1.3g/t Au stoping cut-off grade) Cautionary Statement: The Underground Mining Study referred to in this report is based on low-level technical and economic assessments and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Underground Mining Study will be realised. For avoidance of doubt, the stated MRE determined by the UMS is the in situ Mineral Resource and this announcement does not contain any forecast financial information and does not include a Production Target. ASX:VKA vikingmines.com i. Barra Resources Limited (2002), First Hit Mining Report December 2002 (Final Report) M30/99; Report No. BRLP 00107. Submitted to DMIRS ii. VKA ASX Announcement 20 January 2025 - VIKING DEFINES HIGH_GRADE GOLD RESOURCE AT FIRST HIT MINE iii. VKA ASX Announcement 26 November 2020 – Acquisition of high-grade gold projects in Western Australia iv. VKA ASX Announcement 10 June 2025 – VIKING DELIVERS 12KOZ IN FIRST HIT UNDERGROUND MINING STUDY 6 0.0 Narrow Vein High-grade Visible Gold 0.0 0.5 mm 0.0 0.0 0.5 mm 0 0.5 mm 0.5 mm 1.0 HISTORIC DRILLHOLEi FDH001 – DRILLED IN 2001 1.0 1.0 0.0 1.0 NQ Diameter Core 5 10 cm ASX: VKA | vikingmines.com 0.0 0.0 0.5 mm 1.0 0.5 mm 0.5 mm 1.0 1.0 The weighted intercept value in the First Hit database for hole FDH001 is 0.5m at 103.5g/t Au from 59.7m to 60.2m. i. Viking Mines Limited ASX Release 15 February 2021 VIKING MINES INVESTOR PRESENTATION ON FIRST HIT PROJECT 7 OBM Riverina Underground Mine Case Study Exploration analogue for Viking’s Zuleika Shear regional targets 1.6m at 25.2g/t Au Ore Drive ASX:VKA vikingmines.com UG Main Lode - Long Section i. Riverina long section and photos from Ora Banda Mining’s (ASX: OBM) Corporate Presentation - Euroz Hartleys Conference, released to ASX on 7 March 2025 8 Riverina East Project High Priority Targets First Hit 30koz mined, 19koz Inferred MRE Target 25km strike of Zuleika shear untested by bedrock drilling OPPORTUNITY • Greenfields ground – no bedrock drill testing for >23km before Viking commenced activity in November 2024 • Same stratigraphic position as the >1.2Moz Au Central Davyhurst Camp (ASX:OBM) 40km south • Immediately adjacent to the >1.3Moz Riverina-Mulline Camp (ASX:OBM) Riverina (ASX:OBM) Long Section to scale Central Duplex Target Southern Duplex Target EXPLORATION STRATEGY • • • Targeting narrow vein high grade deposits typical of this setting Heel to toe drill traverses provide full coverage of the geology 1-5 gram metre intercepts define mineralised pathways for follow up ACTIVITY Systematic phased exploration underway with ~13,400m RC Drilling completed from ~20,000m budgeted programmei • • • • Early-stage success with discovery of new gold structuresii Geochemistry proving effective Southern Structural Target Shear • RiverinaMulline Camp >1.3Moz More than half the strike length yet to see first pass regional drilling Phase 3 drilling commencing early July following up high-grade intercepts ASX:VKA vikingmines.com i. Viking Mines (ASX:VKA) ASX Announcement 18 November 2024 – Viking Expands First Hit Gold Project Drilling Programme ii. Viking Mines (ASX:VKA) ASX Announcement 25 February 2025 – Viking hits gold in 2nd Regional Drill Traverse, 1.7km south 9 Riverina East Project Bifrost Target TRAVERSE 4 0.8km Discovery Success With the Drill Bit TRAVERSE 1 VKRC0068 17m at 1.1g/t Au incl. 1m at 1.6g/t Au 2m at 3.1g/t Au 3m at 1.3g/t Au RESULTS • Confirms gold pathways in this genuine unexplored greenstone • High-grade narrow vein discovered in VKRC0180: • • • • 2m at 23.6g/t Aui (visible gold) • Analogous to the high-grade Riverina & First Hit mines Wide spaced drilling 1.7km apart: • 17m at 1.1g/t Au with peak values up to 3.18g/t Auii • 5m @ 1.0g/t Au and 3m @ 1.3g/t Auiii VKRC0117 1m at 2.3g/t Au 1.7km ASX:VKA i. Viking Mines (ASX:VKA) ASX Announcement 2 May 2025 – VKA Intersects High Grade Visible Gold in Riverina East vikingmines.com ii. Viking Mines (ASX:VKA) ASX Announcement 18 February 2025 – Viking Confirms Gold Discovery at Northern Duplex Greenfields Target iii. Viking Mines (ASX:VKA) ASX Announcement 25 February 2025 – Viking hits gold in 2nd regional drill traverse, 1.7km south VKRC0180 2m at 23.6g/t Au 1m at 3.2g/t Au 1m at 1.5g/t Au TRAVERSE 2 VKRC0178 1m at 3.3g/t Au 1.1km Favourable dolerite host rock intersected Follow up drilling commencing early July to test for extensions to high-grade intercept of 2m at 23g/t Aui (VKRC0180) VKRC0083 27m at 0.4g/t Au incl. 1m at 2.9g/t Au 1m at 1.1g/t Au 1m at 1.5g/t Au VKRC0103 23m at 0.4g/t Au incl. 5m at 1.0g/t Au 3m at 1.3g/t Au TRAVERSE 3 10 Bifrost - Traverse 2 Interpreted N-S striking structure trending through mag low target and high grade result in VKRC0180 VKRC0117 1m at 2.3g/t Au from 98m VKRC0180 1m at 1.5g/t from 108m 1m at 3.2g/ Au from 112m 2m at 23.6g/t Au from124m VKRC0103 23m at 0.4g/t Au from 97m incl. 5m at 1.0g/t from 102m 3m at 1.3g/t from 115m VKRC0188 8m at 167ppb from 36m VKRC0178 1m at 3.3g/t Au from 51m VKRC0192 24m at 169ppb from 28m • Drilling identified North/South Structures • High-grade gold encountered supports exploration target model • Dolerite hosted mineralisation, visible gold and extent of broad gold anomaly highlight significant potential of discovery Bifrost Prospect – Traverse 2i VKRC0195 4m at 0.5g/t Au from 36m Interpreted N-S striking structure trending through mag low target VKRC0125 4m at 0.6g/t Au from 44m ASX:VKA vikingmines.com VKRC0121 1m at 1.7g/t Au from 91m i. VKA ASX Announcement 2 May 2025 – VIKING INTERSECTS HIGH GRADE GOLD WITH VISIBLE GOLD IN RIVERINA EAST DRILLING 11 Riverina East Project Bifrost Target Traverse 2i High grade veins in good host rocks with grade increasing with depth ASX:VKA vikingmines.com i. Viking Mines (ASX:VKA) ASX Announcement 2 May 2025 – VKA Intersects High Grade Visible Gold in Riverina East 12 Riverina East Project Central Duplex Target 3.2km Bifrost Target Central Duplex Target returning strong gold anomalies RESULTSi • 260m wide, strongly anomalous zone indicative of substantial mineralised fluid flow • • Peak grades up to 1.5g/t Au (VKRC0155) Structures identified, further follow up work required ASX:VKA vikingmines.com i. Viking Mines (ASX:VKA) ASX Announcement 2 May 2025 – VKA Intersects High Grade Visible Gold in Riverina East 13 Riverina East Project It’s all about the scale KEY TAKEAWAYS • Greenfields exploration next to multimillion ounce high-grade camps • The scale is huge but being systematically worked • Geochemistry delivering large gold anomalies and pathfinder elements (As, Bi, Te, Sb, W) • Wide spaced drilling is delivering success • Targeting high-grade narrow veins (<2m) and finding them, VKRC0180 2m at 23.6g/t Aui • Broad zones of strong gold anomalism confirm mineralising fluid pathways • Ora Banda Mining (~$1.8B market cap) neighbour with mill 40km to South ASX:VKA vikingmines.com i. Viking Mines (ASX:VKA) ASX Announcement 2 May 2025 – VKA Intersects High Grade Visible Gold in Riverina East 14 Viking Mines Advancing Projects to Add Value Key Workstreams RIVERINA EAST GOLD PROJECT Ongoing aggressive exploration programme testing high-priority targets along 25km strike length of greenfields tenure Investment Case • Western Australian portfolio of Gold and Critical Mineral Vanadium projects near existing operations and infrastructure • Large 480km2, highly prospective and untested land package on the prolific Zuleika Shear – host to multi-million ounce endowment Highly prospective tenure along 25km strike length of prolific Zuleika Shear • Aggressive exploration programme delivering results with high Fully funded Phase 3 follow up drilling to commence in early July • Exploration strategy confirms gold in a greenfields area with no Pursuing monetisation opportunities for the First Hit Mine MRE • Historic Gold Mine on granted mining lease with high-grade CANEGRASS BATTERY MINERALS PROJECT • Canegrass Vanadium Project with high-grade pit constrained MRE V2O5 purification and electrolyte production testwork grade narrow veins discovered - assays up to 43.6g/t Aui bedrock RC drilling for >23km 12.4koz Au Inferred Resource of 61Mt @ 0.81% V2O5 & 35.9% Fe iii • Fully funded work programmes with $3.4M (end Mar Q FY25) Mining lease application ASX:VKA vikingmines.com i. VKA ASX Announcement 2 May 2025 – VKA Intersects High Grade Visible Gold in Riverina East ii. VKA ASX Announcement 10 June 2025 - VIKING DELIVERS 12KOZ IN FIRST HIT UNDERGROUND MINING STUDY iii. ASX Announcement 18 March 2024 – VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V2O5 15 Supplementary Information: Canegrass Battery Minerals Project An advanced Vanadium Project providing substantial opportunity in the growing long duration energy storage sector Vanadium Critical, Industrial and Battery Mineral Established Critical Mineral with Massive Growth Potential Market Supply i Significant advantages over Li-Ion batteries Total global supply ~120Kt vanadium pa 61% China Russia 17% South Africa Brazil 8% USA Forecasted Demand i Supply deficit predicted to grow from 2024 onwards 5% 3% 6% Other 2.6x 2023 levels Source: Energy & Capital No Degradation ASX:VKA vikingmines.com i) US based vanadium specialist: TTP Squared, Inc Low $/kWh over battery life Nonflammable Fully Recyclable Simple Capacity Expansion 17 Canegrass Battery Minerals Project • Significant Vanadium Resource, 100% owned following recent Share Sale Agreement with Red Hawk Mining (ASK:RHK)ii • Located in Murchison Region with extensive infrastructure within 20km (including Windimurra Mine on care and maintenance) • Global Inferred Mineral Resource Estimate (MRE) of 146Mt at 0.70% V2O5, 31.8% Fe & 6.6% TiO2 (>0.5% V O cut-off) 2 iii 5 • Pit Constrained MRE 61Mt @ 0.81% V2O5 & 35.9% Fe (>0.7% V O cut-off) 2 5 iv • Substantial value of the Project not reflected in VKA Market Cap (EV of $7.77M) ASX:VKA vikingmines.com i) ii) iii) iv) Refer to Appendix 1 for Mineral Resource Estimate sources Viking Mines (ASX:VKA) ASX Announcement 5 September 2024 – VIKING MOVES TO 100% OWNERSHIP OF CANEGRASS PROJECT Viking Mines (ASX:VKA) ASX Announcement 20 November 2023 - VIKING DELIVERS >100% GROWTH AT CANEGRASS WITH 2.2 B LBS OF VANADIUM PENTOXIDE. Viking Mines (ASX:VKA) ASX Announcement 18 March 2024: VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V2O5 18 Flow Sheet Optimisation Underwayi,ii,iii Value Adding Testwork to Unlock the Project Value • • Flowsheet pathway established for Vanadium Production High quality magnetic concentrate produced; • • • • Mining Crush/grind Magnetic Separation Tail Concentrate Iron (Fe) Residue Roasting Sulphide Flotation Purification Sulphide Concentrate 53% mass pull from ore to concentrate 1.43% V2O5, 59% Fe & 11.7% TiO2 from Low Intensity Magnetic Separation (LIMS) Roasting liberates Vanadium ahead of purification; • V2O5 recoveries up to 93.2% from magnetic concentrate roasting • 86.7% V2O5 total recovery from ore feed to Vanadium Solution V2O5 Flake Vanadium Pentoxide (V2O5) Flake produced • • Final purification step testwork ongoing Targeting high purity V2O5 and electrolyte products which attract premium pricing ASX:VKA vikingmines.com i. ii. iii. Magnetic Concentration Using LIMS Magnetic Concentrate Roasted Concentrate Viking Mines (ASX:VKA) ASX Announcement 20 May 2024: VIKING PRODUCES VANADIUM PENTOXIDE FLAKE FROM CANEGRASS Viking Mines (ASX:VKA) ASX Announcement 6 March 2024: VKA ACHIEVES 1.43% V2O5 & 59% FE IN HIGH QUALITY CONCENTRATE Viking Mines (ASX:VKA) ASX Announcement 11 March 2024: VIKING ACHIEVES ROASTING SUCCESS AND 93.2% V2O5 RECOVERY Vanadium in Solution Vanadium Pentoxide (V2O5) Flake 19 Appendix 1 – Vanadium Company Snapshot VIKING MINES (ASX:VKA) COMPANY Canegrass PROJECT Inferred: 146Mt @ 0.70% V2O5 TOTAL: 146Mt @ 0.70% V2O5 (Source: VKA 20 November 2023) POS MRE: 61Mt @ 0.81% V2O5 & 35.9% Fe (Source: VKA 18 March 2024) ORE RESERVES PROJECT STATUS VENUS METALS (ASX: VMC) SUREFIRE RESOURCES (ASX:SRN) NEOMETALS (ASX:NMT) ATLANTIC PTY LTD (PRIVATE) Youanmi Victory Bore and Unaly Hill Barrambie Windimurra 395.4Mt @ 0.77% V2O5 135Mt @ 0.34% V2O5 465Mt @ 0.30% V2O5 280Mt @ 0.44% V2O5 209.7Mt @ 0.50% V2O5 Measured: 30.6Mt @ 1.13% V2O5 Indicated: 136.6Mt @ 0.85% V2O5 Inferred: 228.2 @ 0.66% V2O5 TOTAL: 395.4 @ 0.77 V2O5 Measured: 31.55Mt @ 0.33% V2O5 Indicated: 54.37Mt @ 0.33% V2O5 Inferred: 48.82Mt @ 0.36% V2O5 TOTAL: 134.73Mt @ 0.34% V2O5 Measured: 25.3Mt @ 0.35% V2O5 Indicated: 113.2Mt @ 0.32% V2O5 Inferred: 326.1Mt @ 0.28% V2O5 TOTAL: 465Mt @ 0.30% V2O5 Indicated: 187Mt @ 0.46% V2O5 Inferred: 93Mt @ 0.40% V2O5 TOTAL: 280.1Mt @ 0.44% V2O5 Measured: 34.6Mt @ 0.49% V2O5 Indicated: 123.5Mt @ 0.50% V2O5 Inferred: 51.6Mt @ 0.50% V2O5 TOTAL: 209.7Mt @ 0.50% V2O5 (Source: AVL 7 May 2024) (Source: VMC 18 March 2019) (Source: SRN 5 December 2023) (Source: NMT May 16, 2023) n/a Probable: 93Mt @ 0.35% V2O5 TOTAL: 93Mt @ 0.35% V2O5 Murchison Technology Metals Project Australian Vanadium Project (Formerly ASX:TMT) 146Mt @ 0.70% V2O5 MINERAL RESOURCES AUSTRALIAN VANADIUM (ASX:AVL) n/a Pit Optimisation Study (Advancing to Scoping Study) ASX:VKA vikingmines.com Proved: 1.12Mt @ 0.95% V2O5 Probable: 43.36Mt @ 0.89% V2O5 TOTAL: 44.48Mt @ 0.89% Proved: 10.5Mt @ 1.11% V2O5 Probable: 20.4Mt @ 1.07% V2O5 TOTAL: 30.9Mt @ 1.09% V2O5 (Source: https://www.tmtlimited.com.au/m urchison-technology-metalsproject/mineral-resources-orereserves/) (Source: https://www.australianvanadium.c om.au/our-assets/the-australianvanadium-project/) DFS Complete BFS Complete Exploration Probable: 27.6Mt @ 0.57% V2O5 TOTAL: 27.6Mt @ 0.57% V2O5 (Source: https://atlanticptyltd.com.au/proje cts/windimurra/geology-reservesresources ) Probable: 87.5Mt @ 0.49% V2O5 TOTAL: 87.5Mt @ 0.49% V2O5 (Source: https://www.surefireresources.co m.au/project/vanadiumresources/) (Source: https://wcsecure.weblink.com.au/ pdf/NMT/02666246.pdf) (Source: https://atlanticptyltd.com.au/proje cts/windimurra/geology-reservesresources) PFS Complete PFS Complete DFS Complete 20 Appendix 2 – Canegrass Mineral Resource Estimate Global MRE i Cut-Off V2O5% Model Deposit From November 2023 Model Fold Nose Kinks South Kinks Combined To JORC (2012) Classification Volume Density Tonnes Tonnage (Mt) V2O5 % Fe % Fe2O3 % TiO2 % Cu % Ni % Co % Al2O3 % SiO2 % P % P2O5 % LOI % V2O5 T V2O5 BLbs Mt Fe Mt TiO2 Cu T Ni T Co T 0.00 0.50 Inferred 5,888,852 3.3 19,650,571 19.7 0.44 21.8 31.2 4.1 0.056 0.046 0.012 15.8 31.9 0.005 0.01 1.4 86,017 0.19 4.3 0.8 11,063 9,122 2,296 0.50 0.80 Inferred 16,751,576 3.6 60,641,026 60.6 0.65 30.3 43.3 6.2 0.057 0.059 0.015 13.1 23.2 0.004 0.01 1.8 396,405 0.87 18.4 3.8 34,427 35,965 8,989 3.9 14,468,533 14.5 0.87 37.5 53.6 8.0 0.070 0.071 0.018 9.9 16.5 0.004 0.01 1.3 125,508 0.28 5.4 1.2 10,102 10,343 2,675 75,109,560 75.1 0.69 31.7 45.3 6.5 0.059 0.062 0.016 12.5 21.9 0.004 0.01 1.7 521,913 1.15 23.8 4.9 44,530 46,308 11,664 0.80 Inferred 3,710,784 >0.5 Inferred 20,462,360 0.00 0.50 Inferred 2,115,784 3.7 7,800,150 7.8 0.42 21.2 30.3 4.4 0.044 0.041 0.011 18.0 31.4 0.007 0.02 3.7 32,893 0.07 1.7 0.3 3,417 3,214 835 0.50 0.80 Inferred 5,121,216 3.8 19,611,721 19.6 0.65 30.1 43.1 6.1 0.071 0.066 0.016 11.8 22.4 0.003 0.01 2.5 128,032 0.28 5.9 1.2 13,877 12,983 3,090 0.80 Inferred 2,460,284 3.9 9,573,436 9.6 0.88 36.8 52.7 8.0 0.076 0.071 0.019 8.6 16.3 0.003 0.01 1.7 84,614 0.19 3.5 0.8 7,285 6,814 1,783 >0.5 Inferred 7,581,500 29,185,158 29.2 0.73 32.3 46.2 6.7 0.073 0.068 0.017 10.7 20.4 0.003 0.01 2.3 212,647 0.47 9.4 2.0 21,162 19,797 4,873 0.00 0.50 Inferred 937,416 3.6 3,336,852 3.3 0.47 22.9 32.8 5.0 0.051 0.037 0.012 16.7 30.1 0.010 0.02 0.7 15,734 0.03 0.8 0.2 1,688 1,251 403 0.50 0.80 Inferred 10,182,016 3.7 38,032,009 38.0 0.66 31.2 44.7 6.4 0.074 0.057 0.016 11.3 22.8 0.009 0.02 1.3 251,368 0.55 11.9 2.4 28,057 21,671 6,148 0.80 Inferred 883,732 3.9 3,452,161 3.5 0.84 38.2 54.6 8.1 0.080 0.069 0.020 7.6 16.8 0.004 0.01 1.0 28,830 0.06 1.3 0.3 2,755 2,396 674 >0.5 Inferred 11,065,748 41,484,170 41.5 0.68 31.8 45.5 6.6 0.074 0.058 0.016 11.0 22.3 0.008 0.02 1.3 280,198 0.62 13.2 2.7 30,812 24,067 6,822 0.00 0.50 Inferred 8,942,052 3.4 30,787,573 30.8 0.44 21.8 31.1 4.3 0.053 0.044 0.011 16.4 31.6 0.006 0.01 1.9 134,643 0.30 6.7 1.3 16,168 13,586 3,534 0.50 0.80 Inferred 32,054,808 3.7 118,284,756 118.3 0.66 30.6 43.7 6.3 0.065 0.060 0.015 12.3 22.9 0.006 0.01 1.8 775,805 1.71 36.1 7.4 76,361 70,619 18,227 3.9 27,494,131 27.5 0.87 37.3 53.4 8.0 0.073 0.071 0.019 9.1 16.5 0.003 0.01 1.4 238,953 0.53 10.3 2.2 20,142 19,553 5,132 145,778,887 145.8 0.70 31.8 45.5 6.6 0.066 0.062 0.016 11.7 21.7 0.005 0.01 1.7 1,014,758 2.237 46.4 9.6 96,503 90,172 23,359 0.80 Inferred 7,054,800 >0.5 Inferred 39,109,608 Pit Optimisation Study ii Deposit Cut-off % V2O5 JORC (2012) Classification Tonnage (Mt) V2O5 % Fe % Cu % Ni % Co % TiO2 % Fold Nose 0.7 Inferred 39.0 0.81 36.0 0.068 0.070 0.018 7.6 Kinks 0.7 Inferred 15.9 0.77 35.5 0.080 0.080 0.018 7.4 Kinks South 0.7 Inferred 6.3 0.85 36.7 0.074 0.074 0.018 7.8 Total 0.7 Inferred 61.2 0.81 35.9 0.071 0.069 0.018 7.6 ASX:VKA vikingmines.com i) ii) Viking Mines (ASX:VKA) ASX Announcement 20 November 2023 - VIKING DELIVERS >100% GROWTH AT CANEGRASS WITH 2.2 B LBS OF VANADIUM PENTOXIDE Viking Mines (ASX:VKA) ASX Announcement 18 March 2024: VKA DELIVERS SUCCESSFUL PIT OPTIMISATION 61MT AT 0.81% V2O5 21 For more information please contact: Julian Woodcock Managing Director & CEO P +61 8 6245 0870