Announcement PDF contact@vikingmines.com 1 ASX ANNOUNCEMENT 29 January 2026 15-17 Old Aberdeen Place West Perth, WA, 6005 P +61 8 6245 0870 F +61 8 9322 5230 ASX:VKA vikingmines.com VIKING TO COMMENCE HIGH-RESOLUTION GEOPHYSICS AT LINKA PROJECT • Engagement of specialist geophysical contractors for a dual-method Gravity and Ground Magnetic survey program starting in mid-February. • Execution of a high-density 1km² gravity survey using a 20m x 40m station grid to map density contrasts between mineralised skarns and host lithologies. • Implementation of a 2.3km² ground magnetics survey on 20m line spacing to define primary structural controls and intrusive boundaries. • Application of geophysical techniques to enhance prospective horizons beneath the post-mineralization Bates Mountain tuff volcanic cover. • Direct integration of survey findings into the Company’s 3D geological model to test the 820m strike extension and prioritize upcoming drill targeting. Viking Mines Ltd (ASX: VKA) (“Viking” or “the Company”) is pleased to announce it has engaged specialist contractors Rock Bottom Geosciences LLC based in Reno, Nevada, to execute high-resolution ground geophysical surveys at the Linka Project (Nevada, USA). Scheduled to commence mid-February, this program is a foundational step in the Company’s strategy to delineate subsurface structures, map the bedrock geology and identify high-priority drill targets along the Project’s established mineralised trend. Viking Mines MD & CEO Julian Woodcock said: "This geophysics program aims to bridge between the high-grade surface samples identified in our metallurgical testwork samples which returned up to 1.3% Tungsten Oxide (WO3) and a future mineral resource. “By undertaking these surveys, we are aiming to model the subsurface geology with the objective of defining blind drill targets. We are specifically targeting the zone beneath the younger Bates Mountain volcanic cover which masks the contact between older monzonite intrusive and sedimentary rocks which host mineralisation at Linka. “Viking is rapidly establishing a rigorous, data-driven strategic roadmap. This work is designed to test beyond the known 820m strike length mineralised corridor where it is interpreted to continue untested and under cover. We are optimistic that the surveys will identify where to target the drill rig to maximise our opportunity to define a substantial tungsten mineralised system." GRAVITY AND MAGNETICS GEOPHYSICAL SURVEY Intrusive Contact Mapping By measuring variations in rock density and magnetic susceptibility, Viking aims to model the spatial location of the contact between the intrusive monzonite and the surrounding sedimentary sequence. This "contact horizon" is the primary geological control for high-grade tungsten mineralisation. Mapping this boundary in 3D allows the Company to trace the source of the system along strike, identifying potential high-grade zones that are not visible at the surface. ASX:VKA | vikingmines.com 2 Figure 1; Map of the Linka Project showing Vikings claims and the planned location of the ground gravity and magnetics surveys in relation to the known 820m mineralised trend and target strike extensions. ASX:VKA | vikingmines.com 3 Enhancing Subsurface Definition A technical challenge at Linka is the presence of the Bates Mountain volcanic tuff, a younger volcanic "blanket" that obscures the older, mineralised skarns along strike to the NE and SW of the known mineralised corridor. The gravity and magnetic surveys have the potential to penetrate this cover, allowing Viking to enhance its understanding of the underlying bedrock geology through though its physical magnetic and density properties. Mapping the subsurface geology below this cover will assist in identifying potential strike extensions that have been hidden from historical prospectors, effectively opening new exploration fronts. Gravity Signatures The high-resolution gravity survey will measure contrasts in the density of the subsurface geology. Tungsten-bearing skarn mineralisation is inherently denser (up to a specific gravity of 4) than the host rocks (specific gravity of ~2.8). This has the potential to provide a sufficient contrast which could identify "heavy" anomalies along the intrusive contact and provides a high- probability signature for concealed mineralised bodies. This allows Viking to move from broad conceptual targets to precise, data-driven drill targets. Technical Rationale for Upcoming Drilling and Permitting The results of these surveys will provide a key foundational dataset before the commencement of the Linka drilling program. By enhancing our understanding of the subsurface geology and structure now, drill pads can be positioned to test the lateral limits of the system with high precision, ensuring that exploration capital is focused on the most prospective zones from the first meter drilled. Furthermore, the data provides objective evidence of the project's scale and strike potential, which is a critical component of the Notice of Intent (‘NOI’) submission to Federal Agencies. Providing detailed subsurface models as part of the permitting process demonstrates a rigorous technical understanding of the site, which can help streamline regulatory reviews and secure approvals for the planned exploration activities. ONGOING WORK & NEXT STEPS In parallel to the scheduled geophysics program, the Company continues to digitise the recently acquired historical exploration database and advance other facets of the exploration program with the following steps underway: • Metallurgical Testwork: The testwork flowsheet of the high-grade Linka Pit sample (LKMET0004; 1.3% WO3) is progressing, with initial processing results expected in February 2026. • Drill Targeting: Integrated results from geophysics and 3D modelling will define precise targets for the upcoming validation and expansion drilling campaign being developed by the Company. • Federal Permitting (NOI): Findings will be integrated into the NOI for submission to Federal Agencies to secure approvals for ground-disturbing activities. • Portfolio Assessment: Technical evaluation of the five additional Nevada tungsten projects continues in parallel to prioritise future regional exploration. END ASX:VKA | vikingmines.com 4 This announcement has been authorised for release by the Board of the Company. Julian Woodcock Managing Director and CEO Viking Mines Limited For further information, please contact: Viking Mines Limited Michaela Stanton-Cook - Company Secretary +61 8 6245 0870 Forward-Looking Statements This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Viking Mines Limited’s planned exploration programme and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Viking Mines Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement.