Announcement PDF ASX: WCE ANNOUNCEMENT 5 November 2026 WEST COAST SILVER LIMITED ASX | WCE ACN: 155 472 834 REGISTERED OFFICE Level 2, 10 Ord Street West Perth, WA 6005 PO Box 1227, West Perth WA 6872, Australia info@westcoastsilver.com.au +61 8 9322 3383 westcoastsilver.com.au ASX:WCE ANNOUNCEMENT 5 November 2026 Falcon Completes Stage 1 Earn-In at Errabiddy and Elects to Advance to Stage 2 • Falcon Metals Limited (ASX: FAL) has notified the Company that it has completed the Stage 1 earn-in at the Errabiddy Gold Project1 , having incurred A$914,371 of expenditure against the A$750,000 threshold. • Following Stage 1 completion, the participating interests in Exploration Licence E09/2457 (excluding graphite rights) are Falcon 51% and Errawarra Pty Ltd 49% (a wholly owned subsidiary of West Coast Silver), effective 13 October 2026, with Falcon as Joint Venture Manager. • Falcon has elected to proceed to Stage 2, with the right to earn a further 19% interest (taking its total to 70%) by satisfying A$1.25 million of Stage 2 expenditure by 13 October 2029. The A$164,371 Stage 1 expenditure surplus is credited towards Stage 2. • West Coast Silver retains 100% of the graphite rights at E09/2457, together with 100% ownership of its separate Parrot Bore (E09/2602) and Parrot Bore East (E09/2652) tenements. • The farm-in enables continued Falcon-funded exploration while preserving WCE’s exposure to gold and base metals and allowing WCE to prioritise capital towards its Elizabeth Hill Silver Project. • Falcon Metals Limited (ASX: FAL) has reported a second significant gold intercept at Olsen Well, with drill hole OWRC0007 returning 16m @ 2.2g/t gold from 8m, including 4m @ 6.9g/t gold from 20m2 , approximately 240m east of discovery hole OWRC0001 (12m @ 2.8g/t gold from surface, including 4m @ 4.7g/t gold). Results are based on 4m composite samples, with true widths not yet determined3 . • Following completion of Stage 2, WCE may elect to convert its participating interest into a 2% net smelter return (NSR) royalty. The interest would also convert to a 2% NSR if subsequently diluted to 10% or less. Falcon may elect to acquire 50% of the royalty for A$2 million following its grant. 1 Refer Errawarra Resources Ltd (ASX: ERW), now West Coast Silver Limited, ASX announcement“Errawarra Enters into Gold Focused Joint Venture with Falcon Metals”dated 27 November 2024 2 Refer Falcon Metals Limited (ASX: FAL), ASX announcement “16m @ 2.2g/t gold hit in hole 240 metres along strike at Olsen Well” dated 2 November 2026. 3 Refer FAL ASX announcement “First Hole at Errabiddy Hits 12m @ 2.8g/t Gold from Surface” dated 19 October 2026 Highlights ASX: WCE ANNOUNCEMENT WEST COAST SILVER LIMITED ASX | WCE Page 2 West Coast Silver Limited (ASX: WCE) (‘West Coast Silver’,‘WCE’or the‘Company’) advises that its farm-in partner, Falcon Metals Limited (ASX: FAL) (‘Falcon’), through Falcon Metals (WA) Pty Ltd, has achieved the Stage 1 earn-in expenditure requirement under the Earn-in, Joint Venture and Mineral Rights Agreement dated 25 November 2024 (‘Agreement’) concerning Exploration Licence E09/2457 at the Errabiddy Gold Project in Western Australia. The joint venture interest is held by West Coast Silver through its wholly owned subsidiary, Errawarra Pty Ltd (Errawarra). Commenting on the milestone, West Coast Silver CEO Sergei Smolonogov said: “Falcon’s Stage 1 earn-in completion demonstrates the value of our partner-funded exploration strategy at Errabiddy. More than A$900,000 of earn-in expenditure has been incurred, while West Coast Silver retains meaningful gold and base-metals exposure and 100% of the graphite rights. Recent drilling at Olsen Well has now returned two significant gold intercepts approximately 240 metres apart, supporting further evaluation of the emerging gold system. Falcon’s election to proceed to Stage 2 provides a pathway for continued exploration while we maintain our focus on advancing Elizabeth Hill.” STAGE 1 EARN-IN COMPLETED On 13 October 2026, Falcon submitted its Stage 1 completion notice, reporting total qualifying expenditure of A$914,371 against the required A$750,000. Errawarra has reviewed the notice and confirmed to Falcon that it does not dispute the Stage 1 expenditure. Under the Agreement, completion of Stage 1 results in a 51% participating interest for Falcon and a 49% participating interest for Errawarra in E09/2457 for all minerals other than graphite. Falcon is the Manager of the Joint Venture. The parties are progressing the deed of covenant and transfer documentation for registration of Falcon’s 51% interest. The Company retains its 100% graphite mineral rights, which are excluded from the earn- in and the Joint Venture. FALCON ELECTS TO PROCEED TO STAGE 2 Falcon has notified Errawarra of its election to proceed to Stage 2 of the earn-in. Under Stage 2, Falcon may earn a further 19% interest in E09/2457 (excluding graphite), increasing its interest to 70%, by satisfying a further A$1,250,000 Stage 2 expenditure requirement on or before 13 October 2029 (subject to extension under the Agreement). Expenditure of A$164,371 above the Stage 1 threshold will be credited towards this Stage 2 requirement. Under the Agreement, Falcon may instead elect to satisfy the unspent balance of the Stage 2 expenditure requirement by making a cash payment to Errawarra, on which Falcon will earn the Stage 2 interest. If Stage 2 is completed, Errawarra will retain a 30% participating interest in the non-graphite mineral rights. Falcon may elect to end Stage 2 at any time before completing it. If Stage 2 is not completed, the participating interests will remain Falcon 51% and Errawarra 49%, and each party must fund its share of subsequent Joint Venture expenditure or be diluted in accordance with the Agreement. The Stage 2 earn-in is an option, and the additional expenditure is not guaranteed. PARROT BORE AND PARROT BORE EAST Broader portfolio optionality: WCE retains 100% ownership of Parrot Bore (E09/2602) and Parrot Bore East (E09/2652), outside the Falcon earn-in area. These tenements form part of the broader Errabiddy exploration portfolio and have previously identified gold and copper soil anomalism, including a 600m × 600m copper–gold anomaly at Parrot Bore4 , approximately 15km north of Olsen Well. In light of 4 Refer Errawarra Resources Limited (ASX: ERW), now West Coast Silver Limited (ASX: WCE), ASX announcement “Quarterly Activities Report” dated 29 April 2025, page 12, under“Parrot Bore Follow-up”. ASX: WCE ANNOUNCEMENT WEST COAST SILVER LIMITED ASX | WCE Page 3 Falcon's recent gold drilling results at Olsen Well, including two significant bedrock gold intercepts approximately 240m apart5, WCE intends to review historical exploration data and assess opportunities for targeted gold–copper exploration across its 100%-owned tenements. STRATEGIC BENEFITS TO WEST COAST SILVER • Partner-funded exploration: Falcon’s earn-in expenditure advances evaluation of Errabiddy without WCE directly funding the expenditure required for the earn-in stages. If Falcon ends Stage 2 early, WCE must fund its 49% share of Joint Venture expenditure or be diluted. • Retained discovery exposure: WCE preserves a 49% participating interest in the non-graphite minerals at E09/2457 during Stage 2, and potentially 30% following completion. • Separate graphite upside: WCE continues to own 100% of the graphite rights within E09/2457 subject to the terms of the Joint Venture and Mineral Rights Agreement. • Broader portfolio optionality: WCE retains full ownership of Parrot Bore and Parrot Bore East, outside the Falcon earn-in area, and plans to separately evaluate exploration opportunities across these licences. • Capital allocation flexibility: The structure enables WCE to retain exposure to Errabiddy while directing management and capital resources towards Elizabeth Hill silver development and its other priorities. CURRENT EXPLORATION AND NEXT STEPS Falcon continues to advance its maiden reverse circulation (RC) drilling program at Olsen Well, with 50 holes completed for 6,499m. Assay results have been received for 14 holes, including the recently reported OWRC0007 intersection of 16m @ 2.2g/t gold from 8m, including 4m @ 6.9g/t gold from 20m, approximately 240m east of the initial discovery hole OWRC00016 . The two significant intercepts provide further evidence of bedrock gold mineralisation associated with the broader 5.8km-long gold-in-soil anomaly. Other recently reported holes returned predominantly weakly anomalous gold values. Mineralisation geometry and continuity remain to be established, with results based on 4m composite samples and true widths currently unknown. Following these results, Falcon has expanded its drilling program to 7,500m, with completion expected in mid-November 2026. Assays remain pending for 36 completed holes. Further drilling will focus on determining the orientation, geometry and continuity of the mineralised zones, including testing between the two significant intercepts. During Stage 2, Falcon has the sole right to determine exploration programmes and budgets for non- graphite minerals and must keep Errawarra reasonably informed of its activities. WCE will continue assessing exploration opportunities across its 100%-owned adjoining Errabiddy tenements. Within 15 business days after completion of Stage 2, Errawarra may elect to convert its participating interest into a 2% net smelter return (NSR) royalty, subject to the terms of the Agreement. Errawarra's participating interest would also convert to a 2% NSR royalty if subsequently diluted to 10% or less. Falcon has the right, but not the obligation, to purchase 50% of the NSR royalty for A$2 million following its grant. This royalty conversion has not been elected or triggered by Stage 1 completion. 5 Refer Falcon Metals Limited (ASX: FAL), ASX announcement “16m @ 2.2g/t gold hit in hole 240 metres along strike at Olsen Well” dated 2 November 2026. 6 Refer Falcon Metals Limited (ASX: FAL), ASX announcement “16m @ 2.2g/t gold hit in hole 240 metres along strike at Olsen Well” dated 2 November 2026. ASX: WCE ANNOUNCEMENT WEST COAST SILVER LIMITED ASX | WCE Page 4 Figure 1. Errabiddy Project Tenements. Source: Buxton Resources Limited (ASX: BUX), ASX announcement dated 17 February 2025, “Graphite Bull Resource Expands 345%”. SOURCE AND TECHNICAL DISCLOSURE West Coast Silver refers to Falcon Metals Limited's ASX announcement dated 2 November 2026, titled “16m @ 2.2g/t gold hit in hole 240 metres along strike at Olsen Well”. For full details of the exploration results, geological interpretation, drill-hole information and associated JORC Table 1 disclosures, refer to Falcon Metals Limited's announcement. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results reported by Falcon and that the form and context in which those results are presented have not been materially modified. A copy of Falcon's 2 November 2026 ASX announcement is attached in full as Appendix A. This ASX announcement has been authorised for release by the Board of Directors of West Coast Silver Limited. For further information, please contact: Sergei Smolonogov CEO and Executive Director West Coast Silver Limited E: info@westcoastsilver.com.au ASX: WCE ANNOUNCEMENT WEST COAST SILVER LIMITED ASX | WCE Page 5 Competent Person Statement Falcon Metals – Olsen Well Exploration Results The information in this announcement relating to Falcon Metals Limited's Exploration Results at Olsen Well is based on information compiled and reviewed by Mr Doug Winzar, a Member of the Australian Institute of Geoscientists and a full-time employee of Falcon Metals Limited. Mr Winzar has sufficient experience 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 Winzar consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear. West Coast Silver – Parrot Bore Exploration Results The information in this announcement relating to historicalgold and copper exploration results at Parrot Bore, including Exploration Licences E09/2602 and E09/2652, is based on information compiled and reviewed by Mr Thomas Reddicliffe, BSc (Hons), MSc, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and a Non-Executive Director of West Coast Silver Limited. Mr Reddicliffe has sufficient experience 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 Reddicliffe consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear. Previously Reported Exploration Results The Company refers to Falcon Metals Limited's ASX announcements dated 19 October 2026, “First Hole at Errabiddy Hits 12m @ 2.8g/t Gold from Surface”, and 2 November 2026, “16m @ 2.2g/t gold hit in hole 240 metres along strike at Olsen Well”, together with West Coast Silver Limited's ASX announcement dated 21 October 2026, “WCE–Falcon Metals JV Reports 12m @ 2.8g/t Gold at Errabiddy”. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results previously reported and that the form and context in which those results are presented have not been materially modified. The Company also refers to Errawarra Resources Limited's (ASX: ERW) ASX announcement dated 29 April 2025, “Quarterly Activities Report”, page 12, in relation to the previously reported historical gold and copper soil geochemical results at Parrot Bore. Forward-Looking Statements Statements in this announcement that are not statements of historical fact, including statements relating to Stage 2 earn-in expenditure, future exploration activities, Joint Venture arrangements and potential project evaluation, are forward-looking statements. Although management believes the expectations reflected in such forward-looking statements are reasonable, they are based on assumptions, estimates and opinions at the date of this announcement and are subject to risks, ASX: WCE ANNOUNCEMENT WEST COAST SILVER LIMITED ASX | WCE Page 6 uncertainties and other factors that could cause actual outcomes to differ materially from those anticipated. Accordingly, investors are cautioned not to place undue reliance on such statements. Cautionary Statement This document contains reference to certain targets and plans of West Coast Silver which may or may not be achieved. The performance of West Coast Silver may be influenced by a number of factors, uncertainties and contingencies, many of which are outside the control of the Company and its directors, staff and consultants. Falcon Metals Limited T: +61 3 8648 6684 ASX: FAL E: info@falconmetals.com.au Level 6, 350 Collins St, Melbourne VIC 3000 www.falconmetals.com.au PO Box 106, Flinders Lane VIC 8009 ABN 87 651 893 097 1 ASX / Media Announcement 2 November 2026 16m @ 2.2g/t gold hit in hole 240 metres along strike at Olsen Well • Assays received for a further nine RC drill holes completed at Olsen Well at the Errabiddy Gold Project, including a second significant bedrock gold intercept 240 metres east of discovery hole OWRC0001: OWRC0007 16 metres @ 2.2g/t gold from 8 metres; including • 4 metres @ 6.9g/t gold from 20 metres • Results provide further evidence that the 5.8-kilometre surface gold anomaly reflects underlying bedrock mineralisation • Drilling is currently focused on defining the orientation, geometry and continuity of the confirmed mineralised zones with the program expanded to 7,500 metres • Assays are pending for a further 36 completed holes Falcon Metals Limited (ASX: FAL) (“Falcon” or “the Company”) advises it has received assay results for an additional nine reverse circulation (RC) drill holes at Olsen Well, a large greenfield craton-margin gold prospect within the Errabiddy Gold Project in Western Australia. The Errabiddy Shear zone was targeted by Falcon as it was underexplored and had a similar geological setting to the Tropicana Deposit on the eastern margin of the Yilgarn Craton. The Olsen Well prospect is approximately 35 kilometres southeast of the Benz Mining (ASX: BNZ) Glenburgh Gold Project (see Figure 1). The current program is the first ever drilling undertaken at Olsen Well. Drilling is focused on the central 2.5-kilometre-long zone of >25 ppb gold-in-soil anomalism within the broader 5.8-kilometre- long >10 ppb anomaly. The central area of the anomaly includes soil values of greater than 1g/t gold. The previously announced result from the first drill hole in the program, OWRC0001, intersected 12 metres @ 2.8g/t gold from surface, including 4 metres @ 4.7g/t gold from surface1 . Samples were collected as 4 metre composites, with 1 metre splits from this interval to be submitted for assay. Importantly, new assay results from OWRC0007, drilled 240 metres east of OWRC0001, intersected 16 metres @ 2.2g/t gold from 8 metres downhole depth, including 4 metres @ 6.9g/t gold from 20 metres downhole depth, also as 4 metres composite samples. This second significant bedrock intercept provides further evidence that the extensive surface geochemical anomaly reflects underlying bedrock gold mineralisation. OWRC0006, drilled 60m to the north of OWRC0007 on the same line, returned low-level anomalous gold values, which could indicate a steeply dipping orientation to the south. Drilling to test the potential southerly dip continuity of this zone is underway. The other seven holes where assays were received were drilled in a different area, within the central part of the eastern anomaly, and returned only weakly anomalous gold values. Assays are pending for the remaining 36 holes that were completed across the broader target area. Drilling is continuing around the confirmed mineralised zones to define their orientation, geometry and continuity. Following the results received to date, the program has been expanded to 7,500 metres and is expected to be completed in mid-November 2026. Falcon Metals Limited ASX : FAL 2 Falcon Metals’ Managing Director Tim Markwell said: “Drilling at Olsen Well is increasing our confidence that the extensive surface anomaly is associated with a meaningful bedrock gold system. Our understanding of the geometry and controls on mineralisation is in its early days, but the results received to date support expanding the current program to 7,500 metres. Our focus is on building the geological understanding and determining where the system has the potential to develop into stronger and more continuous zones of mineralisation.” Figure 1 Location and regional geology of the Errabiddy Gold Project1 DRILLING RESULTS The maiden EIS co-funded drilling program at Olsen Well is progressing, with 50 holes completed for 6,499 metres (see Figure 2). Results have been received for fourteen holes, including the nine additional holes reported in this announcement. OWRC0007 intersected 16 metres @ 2.2 g/t gold from 8 metres downhole, including 4 metres @ 6.9 g/t gold from 20 metres (see Figure 3). The mineralised interval commences in saprock and transitions into fresh biotite gneiss from 13 metres. The mineralisation is associated with increased silicification and millimetre-scale, planar-textured quartz veining, with finely disseminated pyrite occurring both within the quartz veins and along the foliation of the silicified biotite gneiss. The higher-grade interval in OWRC0007 occurs within fresh rock, confirming primary gold mineralisation. Falcon Metals Limited ASX : FAL 3 OWRC0007 is located approximately 240 metres east of previously reported OWRC0001, which intersected 12 metres @ 2.8 g/t gold from surface within joint-oxidised biotite-quartz-feldspar gneiss with minor quartz veining1 . OWRC0006, drilled 60 metres to the north of OWRC0007 on the same section, intersected only low- level anomalous gold values. At this stage, the dip of the mineralisation is unknown, so an additional northerly oriented hole will be drilled 60 metres south of OWRC0007 to test for a southerly dip to this mineralised zone. Figure 2 Plan map of drilling to date at Olsen Well with gold-in-soil contours on 2VD RTP magnetics OWRC0008, drilled towards the south beneath an isolated gold-in-soil anomaly intersected only low- level gold anomalism, leaving the source of the surface anomaly unresolved. An additional hole is planned from the south, drilling towards the north, to test beneath the anomalous zone from the opposite direction. Further to the northeast, OWRC0009 to OWRC0013, drilled on a 60-metre-spaced traverse across the broader 25ppb gold-in-soil anomaly, intersected weakly anomalous gold values. Approximately 400 metres east of the OWRC0009-OWRC0013 traverse, OWRC0014, drilled beneath a 100ppb gold-in-soil anomaly associated with an outcropping hill, intersected low-level gold values. Further drilling from the northern side of the hill will be considered once all results are available, a detailed interpretation has been completed, and dip directions are better understood. Falcon Metals Limited ASX : FAL 4 Figure 3 Cross section of OWRC0006 and OWRC0007 looking west NEXT STEPS Following the encouraging results received to date, the drilling program has been expanded to 7,500 metres. This allows Falcon to complete the planned first pass drilling at Olsen Well and undertake additional drilling around OWRC0001 and OWRC0007 to define the orientation, geometry and continuity of the mineralised zones. This includes a traverse of holes between the two zones of confirmed mineralisation. Falcon intends to submit one-metre split samples from significant mineralised intervals where initial assay results are based on four-metre composites. This will provide greater resolution of gold grades and mineralised widths. Following completion of drilling and receipt of all gold and multi-element assay results, the dataset will be integrated and interpreted to guide the next phase of drilling planned for 2027. Falcon Metals Limited ASX : FAL 5 About the Errabiddy Gold Project The Errabiddy Gold Project is centred on the Errabiddy Shear Zone, a major crustal-scale structure marking the boundary between the Yilgarn Craton and the Glenburgh Terrane of the Capricorn Orogen. Craton margins are recognised as highly prospective locations for major gold deposits, including Tropicana on the eastern margin of the Yilgarn Craton and the 2.6Moz Karlawinda Gold Project2 on the southern margin of the Pilbara Craton (see Figure 4). The Errabiddy Shear Zone contains known gold mineralisation, including the Big Sky Prospect discovered by Lodestar Minerals in 20153 less than 3km from Falcon's tenure. The nearby Glenburgh Gold Project (owned by Benz Mining ASX:BNZ) is located approximately 35km northwest of Olsen Well, and is also interpreted to be associated with a craton-margin setting. Falcon identified the Errabiddy Shear Zone as a highly prospective target for large-scale gold mineralisation, with historical stream sediment anomalism highlighting the Olsen Well area. Since securing an option over the project, Falcon has completed multiple phases of surface geochemical sampling that have expanded the Olsen Well anomaly to 5.8km of strike at greater than 10ppb gold in soils and confirmed anomalous gold in bedrock. These results have increased confidence in the potential for a significant mineralised system and led to the current drilling program. Falcon can earn a 70% interest in Exploration Licence E09/2457 (excluding graphite rights) from ASX- listed West Coast Silver Limited (ASX: WCE). The adjoining E09/2984 is 100%-owned. This announcement has been approved for release by the Board of Falcon Metals. For more information, please contact: Tim Markwell Media and Investor Queries Managing Director Ben Creagh tmarkwell@falconmetals.com.au benc@nwrcommunications.com.au COMPETENT PERSON STATEMENT: The information contained within this announcement relates to exploration results based on and fairly represents information compiled and reviewed by Mr Doug Winzar who is a Member of the Australian Institute of Geoscientists. Mr Winzar is a full- time employee of Falcon Metals Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Winzar consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears. FORWARD LOOKING STATEMENT: This announcement may contain certain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters that may involve risks or uncertainties and may involve significant items of subjective judgement and assumptions of future events that may or may not eventuate (Forward Statements). Forward Statements can generally be identified by the use of forward-looking words such as "anticipate", "estimates", "will", "should", "could", "may", "expects", "plans", "forecast", "target" or similar expressions and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production and expected costs. Indications of, and guidance on future earnings, cash flows, costs, financial position and performance are also forward-looking statements. Forward looking statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change, without notice, as are statements about market and industry trends, which are based on interpretation of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Falcon Metals Limited ASX : FAL 6 References used in this document 1 ASX Announcement dated 19 October 2026 “First Hole at Errabiddy Hits 12m @ 2.8g/t Gold from Surface” 2 https://capmetals.com.au/investor-centre/presentations “Presentation Diggers & Dealers August 2024” 3 ASX announcement: LSR 20 October 2015 “Extremely high-grade gold up to 105g/t in RC drilling at Big sky”. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement relating to exploration results previously released. Figure 4 Location of the Errabiddy Gold Project Falcon Metals Limited ASX : FAL 7 APPENDIX 1: Reverse Circulation Drillhole Collar Location Hole ID Easting (m) Northing (m) RL (m) Zone Grid Azimuth UTM (°) Dip (°) Depth (m) OWRC0006 442616 7168010 390 50 GDA2020 176 -59 121 OWRC0007 442619 7167950 389 50 GDA2020 182 -60 124 OWRC0008 443021 7168331 391 50 GDA2020 182 -59 121 OWRC0009 443626 7169023 398 50 GDA2020 157 -60 124 OWRC0010 443601 7169076 400 50 GDA2020 154 -60 124 OWRC0011 443587 7169116 402 50 GDA2020 157 -59 121 OWRC0012 443637 7168981 397 50 GDA2020 181 -59 121 OWRC0013 443640 7168921 396 50 GDA2020 181 -59 121 OWRC0014 443763 7169252 403 50 GDA2020 335 -60 205 APPENDIX 2: Signifiant Intersections (>0.2g/t Au) Hole ID From (m) To (m) Interval (m) Au (g/t) Comments OWRC0007 8 24 16 2.2 Biotite-quartz-feldspar gneiss with minor quartz veining and pyrite. APPENDIX 3: Individual assays for significant intersections (>0.2g/t Au) Hole ID From (m) To (m) Interval (m) Au (g/t) OWRC0007 8 12 4 1.4 OWRC0007 12 16 4 0.2 OWRC0007 16 20 4 0.2 OWRC0007 20 24 4 6.9 Falcon Metals Limited ASX : FAL 8 APPENDIX 4: JORC Table 1 – Olsen Well Gold Target Section 1 Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (eg. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg. submarine nodules) may warrant disclosure of detailed information. • The RC samples were collected in 1m calico bags that were split on a riffle splitter. • 4m composite samples were collected using a scoop from the sample pile that was placed on a cleared area. • The 4m composite samples from the entire hole were submitted for 50g fire assay for gold and 4 acid digest for pathfinder elements. • 1m samples will be submitted from geological zones of interest for 50g fire assay. • All samples were pulverised to nominal 80% passing 75 microns to produce a 50g charge for fire assay. Drilling techniques • Drill type (eg. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg. core diameter, triple or stan