Announcement PDF A S X : V K A | O T C I D : V K A L F America Needs Tungsten. Three high-grade historic mines. Fast-to-market strategy. Drilling imminent. Gold Coast Investment Showcase | 11 June 2026 Linka Project, Nevada, USA Linka Already Produced It. ASX:VKA | OTCID:VKALF 2 I M P O R T A N T I N F O R M A T I O N Disclaimer & Competent Person's 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 11 June 2026 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. 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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 presentation that relates to Exploration Results is based on information compiled by Mr Julian Woodcock, who is a Member of the Australian Institute of Mining and Metallurgy (MAusIMM CP) – 305446). Mr Woodcock is a full-time 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’. Mr Woodcock consents to the disclosure of the information in this report in the form and context in which it appears. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the originalannouncements. The information contained in this presentation, relating to metallurgical results, is based on, and fairly and accurately represent the information and supporting documentation prepared by Mr Peter Adamini, BSc (Mineral Science and Chemistry), who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Adamini is a full-time employee of SGS Australia owned Independent Metallurgical Operations Pty Ltd, a wholly owned subsidiary of SGS Australia Holdings Pty Ltd. Mr Adamini is an independent consultant engaged by Viking Mines Limited for metallurgical representation. Mr Adamini consents to the disclosure of the information in this report in the form and context in which it appears. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the originalannouncements. ASX:VKA | OTCID:VKALF 3 T H E T H R E E - Q U E S T I O N A N C H O R Why Tungsten? Why Now? Why Viking? W H Y T U N G S T E N 0% of US tungsten supply produced domestically ⌟ Critical mineral for munitions, aerospace and cutting tools. ⌟ REEShore Act bans Chinese tungsten from US military supply chains from December 2026. ⌟ China controls ~85% of global supply, a single-point-of-failure for Western defence. W H Y N O W ~10x rise in APT price since start of 2025 ⌟ APT trading at US$3,100/mtu, at or near all-time highs.i ⌟ Structural deficit: stockpiles depleted, Chinese export controls tightening, conflict-driven demand. ⌟ Window for new Western supply is open and policy-supported, for the first time in a generation. W H Y V I K I N G Restart Focused on a recommencing production from a brownfields past producing asset ⌟ High-grade past producing assets (0.5% WO3)ii. ⌟ Flagship Linka project operating tungsten mine until 1956, closed on price, not on geology. ⌟ Rapid advancement of multiple workstreams. ⌟ Metallurgical testwork demonstrated successiii. ⌟ Fully funded Maiden drilling campaign weeks awayiv. i. CIF Rotterdam 88.5% AmmoniumParatungstate Source: Shanghai Metals - https://www.metal.com/tungsten 5 June 2026 iii. ASX Announcement 10 June 2026 - LINKATUNGSTENRECOVERY IMPROVEDTO 76.0% ii. ASX Announcement 16 December2025 – VKA TO ACQUIREPRODUCTIONPROVENUSA TUNGSTENPROJECTS iv. ASX Announcement 26 May 2026 - VIKINGLOCKSIN DRILLER FOR LINKATUNGSTENMAIDENCAMPAIGN ASX:VKA | OTCID:VKALF 4 B E N C H M A R K I N G The Grade Story Linka's historical mill grade sits amongst the top tier of global projects. Linka grade derived from historical production reports from 1955-56. See VikingASX release 16 December 2025. T H E M A T H Value of tungsten ores 1% WO₃ in rock = 10 kg WO₃ per tonne = 1 mtu × Metallurgical recovery (e.g. at 75%) = 7.5 kg WO₃ per tonne = 0.75 mtu × Concentrate revenue per mtu = Inherent value US$/t 0.90% 0.70% 0.50% 0.50% 0.49% 0.44% 0.40% 0.30% 0.20% 0.20% 0.14% 0.12% Dolphin (G6M) Mactung (FWZ) Springer (MOON) IMA Mine (TUNG) Linka — historical Sangdong (AII) Tennessee Mtn (AT4) Mt Carbine (EQR) Pilot Mtn (GMET) Barruecopardo (EQR) Watershed (TGN) Hemerdon (TUN) 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1 Global Tungsten Projects (% WO₃) As at March 2026, not an exhaustive list. Refer to Appendix1 for GlobalTungsten GradeAssumptionsand Sources K E Y V A L U E D R I V E R S ⌟ Ore grade ⌟ Metallurgical recovery ⌟ Tungsten concentrate pricing ASX:VKA | OTCID:VKALF 5 P O L I C Y & S T R A T E G I C T A I L W I N D S REEShore Created The Buyer. Is Linka The Domestic Supplier… The mandate that didn't exist when this mine closed in 1956 is now in place, and it's locked in by federal law. REEShore Act Bans Chinese-origin tungsten in US military supply chains from December 2026, creates an immediate, policy-locked domestic premium. Department of War (DoW) momentum In 2026, the US government initiated ‘Project Vault’, actively seeking to grow critical mineral stockpiles, including Tungsten. Funding options available e.g. Guardian Metals (tungsten, Jul-25) DPA Title III US$6.2M, non-dilutive grant, to fund Pilot Mountain PFS. Source: U.S. DoD/DPA Title III award to GoldenMetal Resources(USA) LLC, a wholly-owned subsidiary of Guardian Metal Resources plc, announced22-23 July 2025. Tariffs & Section 232 Tungsten products covered by Section 232 review and tariff structures, favouring domestic supply. Pricing differential growing. Chinese Export Restrictions In February 2025, China placed restrictions on APT, Tungsten Carbide & Tungsten Oxide. This started the current global supply chain shortages on tungsten products. Source: Fastmarkets, TungstenAPT 88.5% WO3 min cif Rotterdamand Baltimore duty-free,$/mtu WO3 https://www.fastmarkets.com/metals-and-mining/minor-metals/tungsten-prices/ ASX:VKA | OTCID:VKALF 6 T H E V I K I N G D I F F E R E N T I A T O R Others Are Exploring. We're Advancing a Past Producer. Linka operated until 1956. VKA is not exploring for a deposit, we're blowing the dust off one that’s already produced. D I S C O V E R , T H E N B U I L D A N E W M I N E Years from production ⌟ Greenfields exploration in new frontiers requires long lead times ⌟ High upfront costs with lower likelihood of success ⌟ High technical risks to determine geology, resource, metallurgy etc. ⌟ Lower-grade bulk tonnage projects require larger CAPEX resulting in financing risk ⌟ Permitting from scratch results in a multi-year process ⌟ Catalysts measured in years L I N K A B R O W N F I E L D S A D V A N T A G E A head start ⌟ History provides the blueprint and a headstart ⌟ Pits, 150ft shaft, historic mill site, ROM pad and tailings already on the ground providing ⌟ 1970’s historical drilling and mining records discovered and digitised ⌟ Multiple Parallel Workstreams underway ⌟ On ground exploration advanced with drilling imminent ⌟ Metallurgical testwork well advanced ⌟ Concept processing study underway and flowsheet designed ⌟ Permitting strategy developed to deliver in the shortest timeframe ⌟ Project aligned with REEShore Act and federal funding opportunities ASX:VKA | OTCID:VKALF 7 2 0 2 6 H 1 Dec 2025 Deal signed Jan Historical data acquired & claims expanded Feb Data digitization & collection Mar Geophysical Surveys Jun Metallurgy & Stockpile Results May Permitting & fieldwork P1 Drilling Assays P2 drilling programme Permitting data collection Permitting P3 Drilling Resource Growth Feasibility Studies Govt Funding Production Resource definition pathway begins Apr Fieldwork & processing MAIDEN DRILLING (P1) Shallow high-grade targets at Linka & blind contact extensions Resource Evaluation Exploration target Phase 2 drilling at Conquest & Hillside Ongoing data collection to feed into permitting process P2 Drilling Assays Resource Estimation T H E P A C E O F E X E C U T I O N From Acquisition to Action — In Six Months. An aggressive workflow and compacted timeline. Every month is a value adding step. 2 0 2 6 H 2 2 0 2 7 O N W A R D MANAGEMENT DISCIPLINE ON DISPLAY The historical Linka dataset was acquired for less than the cost of a single drillhole. i. ASX Announcement 10 June 2026 - LINKATUNGSTENRECOVERY IMPROVEDTO 76.0% ASX:VKA | OTCID:VKALF 8 E V I D E N C E - B A S E D D E - R I S K I N G What's Already Been Proven. Before A Single Drillhole. Six months of work has already shifted Linka from thematic exposure to measurable performance. SURFACE GRADE 14.7% WO₃ Peak surface grab at Conquest (LKGB0005); multiple high-grade outcrops along the trend.i STRIKE EXPANDED 1.6km Mineralised horizon expanded from historic ~820m after digitising 1970s dataset.ii REGIONAL POTENTIAL ~7km Potential interpreted intrusive contact zone identified by ground magnetics geophysical survey.iii DRILL PERMITTING Jun Qtr Maiden drill programme at Linka permitted and scheduled to commence in June 2026 quarter with earthworks followed by drilling.iv iii. ASX Announcement 26 March 2026 – EXPANDEDLINKAGEOPHYSICSDEFINESINTRUSIVESYSTEM iv. ASX Announcement 18 May 2026 – LINKATUNGSTENPROJECT MAIDENDRILL CAMPAIGNFULLY PERMITTED v. ASX Announcement 10 June 2026 – LINKATUNGSTENRECOVERY IMPROVEDTO 76.0% i. ASX Announcement 4 February2026 – EXCEPTIONALTUNGSTENASSAYS UP TO 14.7% WO3 ii. ASX Announcement 17 February2026 - VKADATA INTEGRATIONEXPANDSLINKATUNGSTENTO 1.6KM STRIKE METALLURGY 76% Recovery Combined gravity + flotation concentrate at 56.9% WO3 grade. Proven physical separation,no chemical complexity.v ASX:VKA | OTCID:VKALF 9 ~820M MINERALISED TREND ~800M EXTENSION UNTESTED BELOW COVER Stockpileiv LKMET0001 0.8%WO3 Historic Mill Site & ROM Pad & Tailings Conquest Pit & Shaft; 50ft & 100ft levels Hillside Shaft Inclined ~80ft No levels mined Linka Pit & Shaft 150ft level Surface Sampleiii A065181 0.6% WO3 12.2m at 1.3% WO3 from 26.5m (CR-19)i 8.5m at 1.0% WO3 (Channel Sample A065145)ii L I N K A O P P O R T U N I T Y + U P S I D E i. ASX Announcement 24 February2026 – VIKINGSEES HIGH-GRADESAT LINKAINC.12.2M AT 1.3% WO3 ii. ASX Announcement 19 February2026 – VKAADVANCESLINKARESULTS VIA HISTORICALDATA DIGITISATION iii. ASX Announcement 17 February2026 - VKADATA INTEGRATIONEXPANDSLINKATUNGSTENTO 1.6KM STRIKE iv. ASX Announcement 14 January2026 – HIGHGRADEASSAYS UP TO 1.3% WO3 FROM LINKATUNGSTENPROJECT ASX:VKA | OTCID:VKALF 10 R E S O U R C E U P S I D E Drilling Targets; Testing the Potential 89% of interpreted prospective contact zone is under shallow cover and untested. T A R G E T 1 - L I N K A ⌟ Validate historical drilling ⌟ Test below historic drilling ⌟ Define near surface high grade T A R G E T 2 - E X T E N S I O N S ⌟ Undercover SW extensions from Linka ⌟ Evidenced by historic surface sample ⌟ Contact mapped by geophysics T A R G E T 3 - B L U E S K Y ⌟ 7km regional intrusive contact ⌟ Untested potential ⌟ The best could be yet to come i. ASX Announcement 26 March 2026 – EXPANDEDLINKAGEOPHYSICSDEFINESINTRUSIVESYSTEM ii. ASX Announcement 24 February2026 – VIKINGSEES HIGH-GRADESAT LINKAINC.12.2M AT 1.3% WO3 iii. ASX Announcement 19 February2026 – VKAADVANCESLINKARESULTS VIAHISTORICALDATA DIGITISATION ASX:VKA | OTCID:VKALF 11 P R O C E S S I N G B R E A K T H R O U G H Premium Grade Metallurgy, Real Recovery. Latest testwork delivers a 56.9% WO₃ concentrate at an industry leading 76.0% recovery, A step-change from the 56.4% WO₃ / 46.0% recovery reported in March C O M B I N E D C O N C E N T R A T E 56.9% WO3 at 76.0% recovery from combined gravity + cleaner flotation.i Step-change from 56.4% at 46.0% recovery previously reported.ii G R A V I T Y S T A G E 66.6% WO3 standalone gravity concentrate at 42.16% recovery. Replicated at 5× sample size (10kg vs 2kg), flowsheet de-risking.i L O W - C A P E X P A T H W A Y Simple Proven physical separationusing industry-established gravity and flotation techniques, no chemical complexity. Feeds the conceptual processing study with Mineral Technologies to refine CAPEX and plant design. N E X T T A R G E T >80% Recovery Flotation reagent optimisation targeting >80% recovery at >50% WO₃ grade. Updates to market as testwork completes. i. ASX Announcement 10 June 2026 - LINKATUNGSTENRECOVERY IMPROVEDTO 76.0% ii. ASX Announcement 31 March 2026 – VIKINGS’S LINKAPROJECT ACHIEVES63.6% WO3 CONCENTRATE ASX:VKA | OTCID:VKALF 12 P R O C E S S I N G — T H E K E Y T O U N L O C K I N G T H E V A L U E Linka Project: Processing Concept Study A modular gravity + flotation flowsheet built for low CAPEX, fast & simple onsite construction. Refer to VKA ASX Announcements 17 March 2026 & 27 April 2026 M O D U L A R P R O C E S S I N G ⌟ Mineral Technologies completing the Processing Concept Study for Linka ⌟ “FlexSeries” technology reduces lead times and simplifies onsite construction ⌟ Deliverables: PFD, mass & water balances, CAPEX & OPEX, 3D model, construction timeline S I M P L E F L O W S H E E T ⌟ Conceptual processing rate of 43tph adopted for evaluation ⌟ Crushing > grinding > gravity separation > flotation ⌟ Opportunity to add ‘upgrades’ with; ⌟ Ore sorting technology ⌟ WHIMS ⌟ Falcon concentrators i. ASX Announcement 17 March 2026 – VKA ENGAGESMINERAL TECHNOLOGIESFOR LINKATUNGSTEN ii. ASX Announcement 27 April2026 – CONCEPTUALPROCESS ESTABLISHEDFOR LINKATUNGSTENPROJECT ASX:VKA | OTCID:VKALF 13 L I N K A — T H E B R O W N F I E L D S I N V E N T O R Y Reinvigorating A Historic Mine. This isn’t greenfields exploration. It's a restart strategy for a mine that has previously been proven to work. P R E V I O U S L Y B U I L T Infrastructure P R E V I O U S L Y W O R K E D Production P R E V I O U S L Y E X P L O R E D Knowledge P E N D I N G Maiden Drilling: June Quarter 2026 Testing Linka, SW near mine extensions and first pass blue sky across the broader intrusive complex. ✓ Three historic mines: Linka, Conquest, Hillside ✓ 150ft (~46m) shaft, multiple pits and underground workings ✓ On-site ROM pad and historical tailings dam ✓ Highway <7km and grid power <4km ✓ 8.5km² of consolidated mining claims ✓ 65kt at 0.5% WO₃ milled to 1956 (360 tpd mill) ✓ Closed on price collapse — not on geology ✓ High-grade UG channels: 6.1m at 1.5% WO₃ ✓ Surface stockpiles for ongoing testwork ✓ Metallurgy validated: % 56.9₃ concentrate at 76.0% recovery ✓ 72 historical drillholes / 2,908m — digitised ✓ High-grade drillholes & surface samplesii 12.2m at 1.3% WO3 22.9m at 0.6% WO3 8.5m at 1.0% WO3 ✓ Outcropping mineralisation across 0.8km horizon ✓ Surface grades up to 14.7% WO₃i A D V A N C I N G Metallurgy, surface sampling, permitting, concept processing studies Advancing multiple technical fronts, focused on a rapid restart strategy. i. ASX Announcement 4 February2026 – EXCEPTIONALTUNGSTENASSAYS UP TO 14.7% WO3 ii. ASX Announcement 24 February2026 – VIKINGSEES HIGH-GRADESAT LINKAINC.12.2M AT 1.3% WO3 ASX:VKA | OTCID:VKALF 14 W H A T ' S N E X T Catalyst Ladder: Six Months Of News Flow. From validation → drilling → resource → development. Each rung is a value adding step. M A Y 2 0 2 6 Metallurgy validated Combined gravity + flotation circuit delivers 56.9% WO₃ at 76.0% recovery; further flotation optimisation underway targeting >80% recoveryi. Conceptual processing study with Mineral Technologies progressing with CAPEX & OPEX estimates expected soon. J U N Q 2 0 2 6 Drilling commences NOI approval; rigs mobilised; first holes targeting (a) shallow near mine at Linka and down dip extensions, (b) SW under- cover extension,(c) regional initial exploration across broader geophysics mapped intrusive. Q 3 2 0 2 6 First assays Initial drillhole assays released to market. Q 3 – Q 4 2 0 2 6 Follow-up programme Infill and step-out drilling along the 1.6km horizon; geophysics-drivenblind targets tested. 2 0 2 7 Resource & development Path to maiden JORC resource, concurrent permitting and offtake discussions,small-scale stockpile/tailings retreatment optionality. IN PARALLEL Geological field activity • Baseline & environmental studies • Processing testwork (TOMRA & Sepro) • DIBC membership i. ASX Announcement 10 June 2026 - LINKATUNGSTENRECOVERY IMPROVEDTO 76.0% ASX:VKA | OTCID:VKALF 15 Why invest now. A$24.3M market cap. A$19.6M enterprise value. A brownfields restart opportunity, weeks from drilling. ⌟ A past producing asset, not a discovery story ⌟ Tungsten price at all-time highs ⌟ REEShore Act creates the buyer from Dec 2026 ⌟ Fully funded maiden drilling weeks away, first assays Q3 ⌟ Exploration upside ⌟ Near-term producer strategy C O N T A C T Julian Woodcock Managing Director & CEO +61 8 6245 0870 contact@vikingmines.com | vikingmines.com A S X : V K A | O T C I D : V K A L F ASX:VKA | OTCID:VKALF 16 C O R P O R A T E Structured to Deliver VKA ASX A$0.01 Share Price Close 10/6/26 2.426B Shares on Issue A$24.3M Market Cap A$4.68M Cash (31 Mar 26) A$19.6M Enterprise Value Charles Thomas Chairman Julian Woodcock Managing Director & CEO Dr Julian Stephens Non-Executive Director ADDITONAL PROJECTS Western Australia RIVERINA EAST High Grade narrow vein gold with Inferred MRE of 83.8kt @ 7.0g/t Au for 19.0koz CANEGRASS BATTERY MINERALS Vanadium Magnetite (V, Fe, Ti, Cu, Ni, Co) With Inferred MRE of 146Mt @ 0.70% V2O5, 31.8% Fe & 6.6% TiO2 (>0.5% V2O5 cut-off) MAIN FOCUS Nevada USA NEVADA TUNGSTEN 6 Projects hosting high-grade Tungsten in Skarn Deposits with historical production of 123kt @ 0.54% WO3 Board and Management 0 50 100 150 200 250 0 0.005 0.01 0.015 0.02 0.025 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Millions ASX:VKA | OTCID:VKALF 17 Last updated: 25/3/2026 Measured Indicated Inferred Total (M&I&I) Project Development Stage Owner Market Cap (AUD M) Resource Date Tonnes (Mt) Grade (% W03) Contained W03 (kt) Tonnes (Mt) Grade (% W03) Contained W03 (kt) Tonnes (Mt) Grade (% W03) Contained W03 (kt) Tonnes (Mt) Grade (% W03) Contained W03 (kt) Source Dolphin Operating Group 6 Metals 619 2022 - - - 9.6 0.90 86 - - - 9.6 0.90% 86 Link Mactung Study Fireweed Metals 798 2023 - - - 41.5 0.73 303 12.2 0.59 72 53.7 0.70% 375 Link Springer Mine Pre-development Blue Moon Metals1 603 2012 - - - 0.355 0.537 1.9 1.933 0.493 9.5 2.3 0.50% 11.4 Link IMA Mine Exploration American Tungsten1 159 1963 - - - - - - 0.352 0.5 1.8 0.352 0.50% 1.8 Link Sangdong Operating Almonty Industries 5,913 2025 - - - 8 0.51 40.8 50.7 0.43 218 58.7 0.44% 259 Link Tenessee Mountain Exploration American Tungsten & Antimony1 141 1957 - - - - - - 0.708 0.40 2.8 0.708 0.40% 2.8 Link Mt Carbine Operating EQ Resources 1,614 2023 - - - 18.06 0.30 54.2 10.68 0.30 32.0 28.74 0.30% 86.2 Link Pilot Mountain Study Guardian Metal 793 2025 - - - 8.7 0.206 17.9 1.8 0.169 3 10.5 0.200% 20.9 Link Barruecopardo Operating EQ Resources 1,614 2023 10.05 0.191 19.2 10.46 0.174 18.2 3.86 0.259 10.0 24.4 0.195% 47.5 Link Watershed Study Tungsten Mining 370 2018 9.5 0.16 15 28.4 0.14 40 11.5 0.15 17 49.3 0.14% 70 Link Hemerdon Development Tungsten West 778 2025 43.51 0.16 69.6 120.3 0.13 156.4 160 0.10 160 323.8 0.12% 386 Link Mt Mulgine Study Tungsten Mining 370 2025 - - - 175 0.11 190 72 0.11 80 247 0.11% 270 Link Northern Dancer Care & Maintenance Largo 157 2009 30.8 0.114 35.1 192.6 0.1 191.8 201.2 0.089 178.3 424.6 0.095% 405 Link Sisson Pre-Construction Northcliff Resources 221 2012 108 0.072 77.8 279 0.065 181.4 187 0.05 93.5 574 0.062% 352.7 Link Cautionary Statement Resource and project informationderived from publicly available resource data (see correspondinglinks), market data sourced from Iress Market Systems as of 25 March 2026. In the resources disclosed in the table above: Footnoted items 1: • the data are not reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (referred to as the “JORC Code (2012)”); • a Competent Person has not done sufficient work to classify the historicalestimates or foreign estimates as Mineral Resources or Ore Reserves in accordance with the JORC Code (2012); and • it is uncertain that followingevaluation if the historicalestimates or foreign estimates will be able to be reported as MineralResources or Ore Reserves in accordance with the JORC Code (2012).