Announcement PDF SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 ASX: SKY ASX ANNOUNCEMENT 19 January 2026 Watch a video summary of this announcement & engage with SKY here EXCEPTIONAL HIGH -GRADE TIN AND SILVER INTERCEPTS IN FIRST BATCH OF NEW DRILL ASSAYS AT TALLEBUNG OUTSTANDING START TO 2026 WITH STANDOUT SILVER AND TIN HITS POINTING TO SIGNIFICANT PROJECT UPSIDE • Shallow, high-grade tin and silver intersected in the first batch of results from ongoing multi- rig drilling campaign at the Tallebung Tin Project, NSW with results including: TBRC274: 3m @ 604g/t silver & 0.68% tin from 24m; 5m @ 123g/t silver & 0.11% tin from 50m; and 5m @ 90.2g/t silver & 0.14% tin from 66m TBRC276: 8m @ 59.4g/t silver, 0.26% tin & 0.06% tungsten from 49m; and 3m @ 206g/t silver, 0.63% tin & 0.03% tungsten from 86m TBRC263: 21m @ 0.75% tin & 0.02% tungsten from 27m; including: - 6m @ 2.40% tin & 0.03% tungsten from 40m TBRC278: 3m @ 1.09% tin & 69.0g/t silver from 53m TBRC268: 5m @ 103g/t silver & 0.30% tin from 76m TBRC267: 12m @ 0.24% tin & 21.5/t silver from 58m, including: - 2m @ 1.01% tin, 82.8g/t silver & 0.06% tungsten from 66m; - 2m @ 1.03% tin, 61.5g/t silver & 0.22% tungsten from 118m TBRC266: 8m @ 0.29% tin & 22.0g/t silver from 41m, including: - 1m @ 1.32% tin & 119g/t silver from 49m TBRC283: 26m @ 0.19% tin & 16.8g/t silver from 63m, including: - 2m @ 1.71% tin & 81.6g/t silver from 72m TBRC259: 16m @ 0.21% tin & 33.5g/t silver from 26m TBRC260: 7m @ 0.35% tin & 41.2g/t silver from 17m, including: - 2m @ 0.90% tin & 69.0g/t silver from 21m. • Drilling continues to demonstrate that the deposit remains open in all directions, with further assay results expected in the coming weeks. • Ongoing RC drilling continues to expand high‑grade tin‑silver‑tungsten zones and complete in-fill drilling to support an updated MRE and improve confidence in shallow mineralisation. • Diamond drilling underway for structural and geotechnical data essential for mine design, with a third rig planned to commence in February. • Updated MRE and mining studies on track for release first half of this year, incorporating data from more than 400 drill holes (up from 115 holes used in the current MRE). 2 SKY Managing Director & CEO Oliver Davies commented: “With tin and silver prices reaching record highs, this is an outstanding time to be reporting such impressive early results from our ongoing multi‑rig drilling program at Tallebung. Tin has surged above US$53,000/t on the LME – more than four times the copper price – highlighting the exceptional value of high‑grade tin discoveries such as this. “The high-grade intercepts from the southern and central parts of the deposit reinforce Tallebung’s status as a premier near‑term development opportunity, particularly against the backdrop of rising tin, silver and tungsten prices. We look forward to receiving further assay results in the coming weeks as drilling continues with multiple rigs, and to advancing the Project rapidly toward potential tin‑silver‑tungsten production.” Figure 1: Plan showing the location of the latest drill-holes with assays pending and planned drill-holes in the latest program. Selected previously reported highlight drill intercepts, with results from the successful preceding program shown in orange and blue holes showing assays received. The boundary of the existing Tallebung MRE is also shown over surface geology. 3 Sky Metals Limited (ASX: SKY) is pleased to report exceptionally high‑grade tin and silver assay results from the first batch of drilling completed as part of the ongoing multi‑rig drilling program at the Company’s 100%-owned Tallebung Tin Project in central western New South Wales. TALLEBUNG TIN PROJECT (EL 6699, SKY 100%) TALLEBUNG RC DRILLING CONTINUES TO INTERSECT SHALLOW, HIGH-GRADE TIN-SILVER ZONES The ongoing multi‑rig drilling program at the Tallebung Tin Project continues to deliver strong results, with the first batch of assays returning multiple shallow, high‑grade tin, silver and tungsten intercepts across several emerging zones of the expanding deposit. In particular, drill-hole TBRC268 has confirmed strong potential along the southern extent of the Tallebung deposit, where the mineralisation remains open along strike. This hole highlights the presence of persistent high‑grade silver‑tin mineralisation in this area, extending beyond the limits of the current Mineral Resource outline, with intercepts including: TBRC268: 5m @ 103g/t Ag & 0.30% Sn from 76m This result reinforces the opportunity for further shallow high‑grade discoveries to the south, with further drilling being planned to step-out along strike and test for additional extensions of this emerging high‑grade extension. These results continue to validate SKY’s strategy of accelerating drilling across newly identified high‑grade zones to support a significant upgrade to the Tallebung Mineral Resource Estimate (MRE) in the first half of 2026. The current drilling program is designed to systematically expand high‑grade mineralisation beyond the margins of the existing MRE while simultaneously strengthening geological confidence through targeted in-fill drilling. With assays now received for more than 20 drill holes, a further 40 holes already completed and awaiting results, and additional drilling planned in the coming months, SKY is rapidly building the extensive exploration and technical datasets required to support mine design, geotechnical modelling and feasibility‑level studies. ONGOING DRILLING AND NEXT STEPS More than 400 drill holes are expected to be incorporated into an updated MRE (compared to just 115 holes in the existing MRE. The expanded and higher‑confidence MRE to be released over the coming months will form the foundation for updated open‑pit designs, mine scheduling and ongoing metallurgical and environmental studies. The combination of high-grade intercepts, shallow geometry, large-scale RC coverage, and new structural data positions Tallebung as a standout near‑term tin development project capable of delivering significant scale and exceptionally strong metallurgical performance – as already demonstrated through SKY's bulk ore sorting and gravity testwork programs. UPDATED MRE AND MINING STUDIES ON TRACK The updated MRE remains on schedule for release in the first half of this year and is expected to incorporate data from more than 400 drill holes, a substantial increase from the 115 holes used in the existing MRE. This expanded dataset is anticipated to deliver a significant upgrade in both resource size and confidence levels, supporting the ongoing mining study workstreams. 4 This announcement is authorised for release by the Board of Sky Metals Limited. Investors: Oliver Davies – Managing Director & CEO +61 (0) 430 359 547 Media: Nicholas Read – Read Corporate +61 (0) 419 929 046 JOIN SKY METALS’ INTERACTIVE INVESTOR HUB Visit skymetals.com.au to interact with Sky Metals’ announcements and updates To watch a video summary of this announcement & engage with SKY click here Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr. Oliver Davies, who is a Member of the Australasian Institute of Geoscientists. Mr. Oliver Davies is an employee and director of Sky Metals Ltd 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 ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr. Davies consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Previously Reported Information The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX About the Tallebung Tin Project (100% SKY) Tallebung stands as an open-pit, technology enabled, near-term tin development project. Tallebung is uniquely placed to provide secure tin supply, to feed irreplaceable and rapidly expanding tin demand, essential in semi- conductors, electronics and solar PV technologies. The Tallebung Tin Project is located at the site of large-scale historical tin mining in central Western NSW where tin was first discovered in the 1890s. SKY is progressively defining a large-scale hardrock tin resource with recent higher-grade tin zones discovered on the margins of the known deposit and exceptional metallurgical performance demonstrated across the entire known deposit. The shallow, open-pit tin veins combined with the ideal nature of the tin, hosted as large, discrete grains of simple tin-oxide (cassiterite minerals), all ideally lends itself to low-cost tin production advantages, including exceptional X-ray based ore sorting performance, demonstrated to upgrade the tin up to 44x, prior to low-cost gravity separation to produce a saleable tin concentrate. 5 website (www.asx.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. 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 market announcements. Disclaimer This report contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Sky Metals Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Sky Metals Ltd. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists. Table 1: Drillhole coordinates (MGA94 Zone 55). Hole ID Easting (MGA) Northing (MGA) RL (m) DIP Azimuth (MGA) Total Depth (m) Comment TBRC259 460855.478 6376346.04 291.823 -60.17 255.56 108 Complete TBRC260 460794.265 6376456.58 292.361 -59.76 252.82 102 Complete TBRC261 460699.206 6376475 292.553 -60.19 264.9 102 Complete TBRC262 460682.988 6376447.43 294.539 -59.3 252.36 120 Complete TBRC263 460683.66 6376515.77 289.343 -59.35 254.95 102 Complete TBRC264 460642.52 6376530.94 289.343 -59.45 242.27 102 Complete TBRC265 460730.483 6376410.98 295.95 -59.64 250.86 114 Abandoned TBRC266 460760.327 6376403.56 296.05 -59.51 248.38 126 Complete TBRC267 460823.523 6376385.01 294.293 -59.47 250.3 126 Complete TBRC268 461160.18 6375785.4 289.042 -59.9 253.66 120 Complete TBRC269 461212.478 6375807.29 287.987 -59.57 258.61 120 Complete TBRC270 461180.77 6375844.01 289.224 -59.21 251.97 120 Complete TBRC271 461203.801 6375881.45 289.961 -59.92 254.44 120 Complete TBRC272 461178.731 6375874.81 289.385 -59.67 255.7 126 Complete TBRC273 461084.485 6375851.27 289.385 -59.81 256.49 120 Complete TBRC274 461136.215 6375863.68 292.093 -59.67 251.27 126 Complete TBRC275 461153.66 6375906.89 291.314 -59.53 244.27 120 Complete TBRC276 461088.087 6375887.58 297.393 -59.75 257.62 114 Abandoned TBRC277 461026.775 6375891.21 301.942 -59.8 251.05 120 Complete TBRC278 461082.552 6375911.88 298.494 -59.66 250.4 120 Complete TBRC279 461146.728 6375948.02 291.938 -59.56 250.31 120 Complete TBRC280 461208.202 6375961.37 296 -59.56 249.43 120 Complete TBRC281 461084.268 6375950.61 299.327 -59.77 251.97 120 Complete TBRC282 460696.21 6376736.31 275.433 -59.7 241.76 138 Complete TBRC283 460767.201 6376802.32 275.956 -59.59 251.41 108 Abandoned TBRC284 460970.539 6375946.02 298.769 -59.8 252.77 115 Complete TBRC285 461018.455 6375961.84 298.577 -59.54 253.01 120 Complete TBRC286 461084.523 6376008.18 297.01 -59.56 252.5 120 Complete 6 Table 2: Tallebung Tin Project – Significant Intercepts. Hole ID From To Interval Sn W Ag Cu Zn Comment (m) (m) (m) % % g/t % % TBRC259 26 42 16 0.21 - 33.5 - - including 30 32 2 0.46 0.02 - - - and 32 34 2 0.13 - 173 - - 51 55 4 0.11 - - - - TBRC260 6 7 1 0.23 - - - - 17 24 7 0.35 0.02 41.2 - - including 21 23 2 0.9 0.03 69 - - 47 51 4 0.4 0.07 - - - including 48 49 1 0.93 0.12 17.4 - - 101 102 1 0.29 0.35 - - 0.62 Open to EOH TBRC261 0 16 16 0.17 - 22.9 - - including 11 13 2 0.4 0.02 66.3 - - 36 38 2 0.15 0.1 - - - 54 58 4 0.13 0.02 - - - 76 98 22 0.15 0.05 11.3 0.05 0.29 including 76 81 5 0.34 0.12 - - - and 90 94 4 0.19 0.07 40.5 0.1 1.05 TBRC262 11 12 1 0.31 - - - - 19 33 14 0.15 0.02 - - - including 27 29 2 0.63 0.02 - 0.07 - 42 44 2 0.2 - - - - 60 61 1 0.25 0.02 - - - 69 70 1 0.1 - - - - TBRC263 16 21 5 0.26 0.05 - - - including 17 18 1 0.86 0.13 - - - 27 48 21 0.75 0.02 - - - including 40 46 6 2.4 0.03 - - - including 43 45 2 6.02 0.07 10.4 - - 55 57 2 0.41 - - - - 68 95 27 0.14 0.03 - - - including 70 72 2 0.44 0.04 14 0.09 - and 75 76 1 0.17 0.42 - - - and 92 93 1 0.59 0.02 16.7 - - TBRC264 13 25 12 0.24 0.02 - - - including 15 16 1 1.53 - - - - 31 32 1 0.18 0.1 - - - 41 42 1 0.11 - - - - 45 50 5 0.14 - - - - 56 57 1 0.12 - - - - 66 68 2 0.09 - - - - TBRC265 1 2 1 0.12 - - - - 8 10 2 0.23 - 44.5 - - 15 21 6 0.1 - - - - 7 Hole ID From To Interval Sn W Ag Cu Zn Comment (m) (m) (m) % % g/t % % 33 34 1 0.23 - - - - 40 41 1 0.12 0.04 - - - 45 48 3 0.07 0.13 - - - 59 60 1 0.23 0.04 - - - 66 75 9 0.15 0.02 12.8 - - including 66 68 2 0.38 0.07 45.1 - - TBRC266 76 77 1 0.27 0.24 11.5 - - 87 95 8 0.29 0.02 22 0.05 0.37 including 92 93 1 1.32 0.03 119 0.21 1.85 TBRC267 7 9 2 0.16 - - - - 18 30 12 - - 36.6 - - Silver-rich vein package 58 70 12 0.24 0.03 21.5 - - including 66 68 2 1.01 0.06 82.8 - - 118 120 2 1.03 0.22 61.5 0.06 1.86 TBRC268 76 81 5 0.3 - 106 - - including 79 80 1 1.06 - 32.5 - - TBRC270 32 39 7 0.21 - - - - including 38 39 1 1.04 - 8.24 - - TBRC272 33 34 1 0.57 - - - - TBRC274 24 27 3 0.68 - 604 - - 38 40 2 0.4 0.03 - - - 50 55 5 0.11 - 123 - - including 50 51 1 0.11 0.02 414 - - 66 71 5 0.14 - 90.2 - - TBRC275 36 39 3 0.07 0.12 16.3 - - TBRC276 49 57 8 0.26 0.06 59.4 - - including 50 51 1 1.05 0.06 81.1 - - 86 89 3 0.63 0.03 206 - - including 87 88 1 0.84 0.04 452 - - TBRC277 31 35 4 0.16 - - - - TBRC278 46 47 1 0.17 0.02 - - - 53 56 3 1.09 0.02 69 - - 79 82 3 0.39 0.02 17.9 - - TBRC279 30 36 6 0.08 0.02 38.5 - - including 34 35 1 0.09 0.02 145 - - TBRC280 90 92 2 0.16 - - - - TBRC281 31 32 1 0.1 0.09 - - - 40 45 5 0.12 - 40.5 - - including 43 44 1 0.26 0.02 160 - - 51 55 4 0.15 0.03 20.4 - - including 53 54 1 0.42 0.07 - - - 61 63 2 0.23 - 29.4 - - TBRC282 29 30 1 0.3 0.03 13.3 - - 57 58 1 - - 135 - - 8 Hole ID From To Interval Sn W Ag Cu Zn Comment (m) (m) (m) % % g/t % % 65 77 12 0.21 0.02 - - - including 65 67 2 0.74 0.03 10.8 - - 98 99 1 0.15 - - - - TBRC283 63 89 26 0.19 0.05 16.8 - - including 72 74 2 1.71 0.05 81.6 - 0.46 TBRC285 18 20 2 0.15 0.02 - - - 49 50 1 0.11 - - - - TBRC286 21 22 1 0.16 - 11.6 - - 31 32 1 0.1 - - - - 43 45 2 - - 138 - - 81 82 1 0.32 - 115 - - 9 JORC CODE, 2012 - TABLE 1 Section 1 Sampling Techniques and Data – TALLEBUNG PROJECT (Criteria in this section apply to all succeeding sections) Criteria Explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. RC Drilling – the total sample (~20-30kg) is delivered via cyclone into a large plastic bag which is retained for future use if required. 1m intervals are split using a cone splitter on the rig into a separate calico at the time of drilling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. For RC drilling, assay standards or blanks are inserted at least every 50 samples. All sample lab received weights show consistency with recovery and interval length. • 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 (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information. Each sample was dried, crushed and pulverised as per standard industry practice. RC Drilling – the total sample (~20-30kg) is delivered via cyclone into a large plastic bag which is retained for future use if required. 1m intervals are split using a cone splitter on the rig into a separate calico at the time of drilling. Where mineralisation has not been logged, 4m Composites have been made by using a spear to Combine equal amounts of samples from each 1m calico. The primary metal of interest, tin (Sn) and also tungsten (W) were determined by lithium borate fusion XRF (method ALS – ME-MS85) – considered appropriate for these elements. Multielement assaying was completed for 48 elements by 0.25g four-acid digest with ICPMS determination (method ALS – ME- MS61) or for infill holes, assay of Ag, As, Cu, Pb, Zn with ICP determination (method ALS – ME-ICP61) Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc) Reverse circulation (RC) drilling using 110mm rods, 144mm face sampling hammer. Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material RC drilling - high capacity RC rig was used to enable dry samples collected. Drill cyclone is cleaned between rod changes and after each hole to minimise cross-hole contamination. Sample weights are recorded for each sample. Recoveries were generally excellent and consistent, however, if samples were wet the recoveries were less consistent. There is no known relationship between sample recovery and grade. Where samples recoveries are less than 95% there is no relationship observed between grade and sample recovery. Relationships between sample recovery and grade are not considered significant where recoveries exceeded 95% in fresh rock. 10 Criteria Explanation Commentary Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography • The total length and percentage of the relevant intersections logged Systematic geological and geotechnical logging was undertaken when the holes were originally drilled. Data collected includes: • Nature and extent of lithologies. • Relationship between lithologies. • Amount and mode of occurrence of ore minerals. • Location, extent, and nature of structures such as bedding, cleavage, veins, faults etc. Structural data (alpha & beta) are recorded for orientated core. Geotechnical data such as recovery, RQD, fracture frequency, qualitative IRS, microfractures, veinlets and number of defect sets. For some geotechnical holes the orientation, nature of defects and defect fill are recorded. Both qualitative and quantitative data is collected. RC chips, half core (HQ) & ¾ core (PQ) samples are retained in trays for future reference. A representative sample of each one metre RC interval is retained in chip trays for future reference. All chips were geologically logged. Sub-sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry • For all sample types, the nature, quality and appropriateness of the sample preparation technique • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled RC drilling - the total sample (~20-30kg) is delivered via cyclone into a large plastic bag which is retained for future use if required. 1m intervals are split using a cone splitter on the rig into a separate calico at the time of drilling. Where 4m Composites have been made, a spear is used to split equal amounts of each metre into the 4m Composite. Samples were dried crushed and pulverised to 90% passing 75 microns. This is considered to appropriately homogenise the sample to allow subsampling for the various assay techniques. SKY: Certified Reference Material (CRM) and blanks were inserted at least every 50 samples to assess the accuracy and reproducibility of the drill core results. The results of the standards were to be within ±10% variance from known certified result. If greater than 10% variance the standard and up to 10 samples each side were re-assayed. SGS conducted internal check samples every 20 for multielement assay. RC drilling - duplicate samples are collected of re-split intervals. Duplicates generally show excellent repeatability. Sample sizes are industry standard and considered appropriate Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established Standard assay procedures performed by a reputable assay lab, (ALS), were undertaken. Forty-eight elements Ag, As, Cu, Fe, Pb, S, Zn are digested by four-acid digest then analysed by ICPMS (method ME- MS61) or for infill holes, assay of Ag, As, Cu, Pb, Zn with ICP determination (method ALS – ME-ICP61) Sn and W assays were generated by lithium borate fusion XRF (method ME-MS85) – considered appropriate for these elements. No geophysical tools were used in the determination of assay results. Certified reference material or blanks were inserted at least every 50 samples. Standards are purchased 11 Criteria Explanation Commentary from Certified Reference Material manufacture Companies: Standards were purchased in foil lined packets of between 60g and 100g. Different reference materials were used to cover high grade, medium grade, low grade, and trace ranges of elements, with a primary focus on Sn, Ag and W. Verification of sampling and assaying • The verification of significant intersections by either independent or alternative Company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data Drill data is Compiled and collated and reviewed by senior staff. External consultants do not routinely verify exploration data until resource estimation procedures are deemed necessary. The intersection calculations were viewed by >1 geological personnel. Twinned holes have been used by past explorers to validate the results achieved and have confirmed these historic results. Drill Hole Data including: meta data, any gear left in the drill hole, lithological, mineral, survey, sampling, magnetic susceptibility was collected and stored as physical and electronic copies or entered directly into an excel spread sheet using drop down codes. When Complete the spreadsheet was Combined into a master excel spreadsheet as the drill hole database. Assay data was provided by ALS via .csv spreadsheets. The data was validated using the results received from the known certified reference material. Hard copies of the assay certificates were stored with drill hole data such as drillers plods, invoices, and hole planning documents. Assay data is not adjusted. Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used • Quality and adequacy of topographic control Historic drill hole collars were located using either a licenced surveyor or on a local imperial or metric grid. Conversion of the local grid co-ordinates has been undertaken by previous exploration Companies. SKY has used DGPS surveying of drillholes (± 0.1m) to accurately locate them. All coordinates are based on Map Grid Australia Zone 55E, Geodetic Datum of Australia 1994. Historic drill hole collars were located using either a licenced surveyor or on a local imperial or metric grid. SKY has used DGPS surveying of drillholes (± 0.1m) to accurately locate them, or handheld GPS (+/- 3m). Where handheld GPS has been used, SKY will DGPS them at a later date. Data spacing and distribution • Data spacing for reporting of Exploration Results • Data spacing for reporting of Exploration Results Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied • Whether sample Compositing has been applied At this stage, drilling of the MRE area of the project has been drilled to at least approximately 80m x 80m down to 40m x 40m for inferred and indicated resources respectively. Outside of the MRE are, data spacing is variable as the focus is on geological mapping and identifying new zones of mineralisation. The maiden MRE was estimated to inferred and indicated and increases in resource confidence will require tighter spaced drilling, such as some of the drilling completed in this program. Sample Compositing is not applied. Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced sampling bias, this should be assessed and reported if material Drilling was orientated to cross the mineralisation trend at moderate to high angles, perpendicular to mineralisation. The use of orientated core allows estimates of the true width and orientation of the mineralisation to be made accurately. No sample bias due to drilling orientation is known. The structural controls on mineralisation is considered well understood and consistent. 12 Criteria Explanation Commentary Sample security • The measures taken to ensure sample security Sample chain of custody has been managed by the employees of Sky Metals who Commissioned the drilling and transport samples from the drilling rig to assay laboratory. All samples are bagged in tied numbered calico bags, grouped into larger tied polyweave bags, or placed in a stillage box and transported to ALS in Orange by SKY personnel. All sample submissions are documented via ALS tracking system and all assays are reported via email. Sample pulps are returned to site and stored for an appropriate length of time (minimum 3 years). The Company has in place protocols to ensure data security. Audits or reviews • The results of any audits or reviews of sampling techniques and data The Company has external consultants to verify exploration data for the resource estimation process. Further details for the MREs can be found in SKY ASX Announcement 22 Match 2023 and SKY ASX Announcement 23 January 2024. Section 2 Reporting of Exploration Results – TALLEBUNG PROJECT (Criteria listed in the preceding section also apply to this section) Criteria Explanation Commentary Mineral tenement and land tenure status • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalt