Announcement PDF ASX: SKY ASX ANNOUNCEMENT 29 October 2024 QUARTERLY ACTIVITIES REPORT TO 30 SEPTEMBER 2024 DRILLING HIGHLIGHTS EXCEPTIONAL RESOURCE UPSIDE AT THE TALLEBUNG TIN PROJECT OUTSTANDING ORE SORTING RESULTS CONFIRM LOW-COST PROCESSING POTENTIAL TALLEBUNG PROJECT  Exceptional results received from the latest TOMRA ore sorting testwork for the Tallebung Tin Project, including:  TBD012 (42-92m) – 0.10% tin sample upgraded to 4.42% tin (44x upgrade) & 342g/t silver with 83% recovery of tin achieved from 1.9% of the total mass, representing a 98.1% reduction in the sorted mass.  Broad, higher-grade intersections from in-fill drilling under the historical southern pit: TBRC114: 29m @ 0.50% tin & 33.8g/t silver from 173m, including: 7m @ 1.23% tin & 106g/t silver from 181m. TBRC115: 11m @ 0.43% tin & 49.7g/t silver from 85m, including: 6m @ 0.71% tin & 56.6g/t silver from 85m.  Shallow, higher-grade tin intersections from southern extension drilling: TBRC105: 7m @ 0.58% tin from 62m, including: 2m @ 1.82% tin from 62m. TBRC110: 6m @ 0.59% tin & 28.8g/t silver from 50m, including: 3m @ 1.02% tin & 22.3g/t silver from 53m, within: 27m @ 0.24% tin & 16.9g/t silver from 47m.  Results show strong continuity of mineralisation surrounding the high-grade extension discovered in the recent 150m step-out hole to the south, which returned 11m @ 1.02% tin, 77.9g/t silver & 0.13% tungsten from 64m (TBRC078). DECEMBER 2024 QUARTER – PROPOSED WORK PROGRAM TALLEBUNG PROJECT  Further testing of zones of higher-grade tin mineralisation and increase confidence in geological modelling with a planned diamond drilling program.  Integration of recent drilling data to further enhance geological models, aiming to increase confidence, grade and size of the existing MRE.  Trenching to inform the locations of bulk samples for metallurgical testwork to improve and optimise exceptional ore sorting and processing results.  Continue building towards a mining study to consolidate the economic potential at Tallebung. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 The Board of Sky Metals Limited (‘SKY’ or ‘The Company’) is pleased to present its September 2024 Quarterly Activities Report outlining SKY’s exploration and development program for the three months to 30 September 2024. TALLEBUNG PROJECT (EL 6699, SKY 100%) SOUTHERN EXTENSION DRILLING During the quarter, a program of 13 Reverse Circulation (RC) drill-holes (TBRC103-TBRC115, Figure 1) successfully confirmed the continuity of recently discovered high-grade tin mineralisation, well beyond the southern margin of the current MRE. The program was completed to expand this southern extension where the southernmost drillhole, TBRC078, intersected significant high-grade tin mineralisation, including: TBRC078: 11m @ 1.02% Sn, 77.9g/t Ag & 0.13% W from 64m Holes TBRC103-110 were drilled to in-fill these results and continue to expand the deposit to the south. Best results were from holes TBRC105 and TBRC110, which were drilled approximately 50m along strike to the south-east and down-dip from TBRC078, respectively. Highlights from these drill-holes include: TBRC103: 14m @ 0.22% Sn & 27.1g/t Ag from 59m; including: 1m @ 1.74% Sn & 296g/t Ag from 60m. TBRC104: 6m @ 0.21% Sn, 0.03% W & 5.39g/t Ag from 59m; including: 1m @ 1.74% Sn & 296g/t Ag from 60m. TBRC105: 7m @ 0.58% Sn from 62m, including: 2m @ 1.82% Sn from 62m. TBRC106: 3m @ 0.18% Sn & 8.81g/t Ag from 15m. TBRC108: 23m @ 0.21% Sn. 0.07% W & 10.2g/t Ag from 82m; including: 1m @ 0.96% Sn, 1.09% W & 92.3g/t Ag from 82m; and 1m @ 1.17% Sn from 90m. TBRC109: 2m @ 0.44% Sn, 190.5/t Ag, 0.07% W & 0.05% Cu from 68m. TBRC110: 6m @ 0.59% Sn & 28.8g/t Ag from 50m, including: 3m @ 1.02% Sn & 22.3g/t Ag from 53m, within: 27m @ 0.24% Sn & 16.9g/t Ag from 47m. Future work will focus on building the Company’s geological understanding of this newly discovered area and continuing to expand this zone of high-grade tin mineralisation, delineated beyond the southern margin of the current MRE. Holes TBRC113-TBRC115 were drilled in the area directly under the historic southern open pit, being a remnant pit excavated during the alluvial mining operations at Tallebung over 50 years ago. These holes were designed to infill areas of higher-grade tin mineralisation intersected in pervious drilling in this area. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 Figure 1: Plan showing the current boundary of the Tallebung MRE with new intercepts shown in orange. Past SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 highlight intercepts are shown in black. Inset shows southern open pit area with new results. TBRC113: 10m @ 0.27% Sn, 0.03% W & 7.53g/t Ag from 62m, including: 1m @ 1.76% Sn, 0.03% W & 5.54g/t Ag from 62m. 24m @ 0.14% Sn, 21.3g/t Ag & 0.98% Zn from 171, including: 14m @ 0.21% Sn, 0.04% W & 34.4g/t Ag from 174m, including: 1m @ 0.84% Sn, 200g/t Ag, 0.18% Cu & 3.16% Zn from 186m TBRC114: 5m @ 0.27% Sn, 0.12% W, 178g/t Ag & 0.14% Cu from 56m, including: 2m @ 0.38% Sn, 0.20% W, 416g/t Ag & 0.30% Cu from 56m. 29m @ 0.50% Sn, 0.06% W, 33.8g/t Ag & 0.53% Zn from 173m, including: 1m @ 2.42% Sn from 173, and: 7m @ 1.23% Sn, 106g/t Ag, 0.06% Cu & 0.35% Zn from 181m. TBRC115: 11m @ 0.43% Sn & 49.7g/t Ag from 85m, including: 6m @ 0.71% Sn & 56.6g/t Ag from 85m. These results confirm excellent continuity of higher-grade tin mineralisation in the vicinity of the southern open pit area and highlight strong potential for additional high-grade tin Resources to be defined in this area and included in the next MRE update for Tallebung. (NB: Sn = tin, W = tungsten, Ag = silver, Cu = copper, Zn = Zinc). RESOURCE IN-FILL DIAMOND DRILLING A program of five diamond drill-holes (TBD009-TBD013, Figure 2) was completed to in-fill the current MRE at Tallebung of 15.6Mt @ 0.15% Sn for 23.3kt of contained Sn (SKY ASX Announcement 23 January 2024) and to increase the geological and structural understanding of the deposit. Assay results have so far been received for four (TBD009-TBD012) of the five holes, which are reported in this announcement. Structural data gained from the diamond drill-holes will be used to inform the Company’s geological understanding of the orientation of any faults intersected (most importantly, any post-mineralisation faults discovered) and the geometries of the tin vein packages as well as host sediment deformation. These datasets will be incorporated in an updated MRE and geological modelling to ultimately underpin future mining studies. The first hole in this program, TBD009, was drilled to provide increased coverage under the historic southern open pit. This hole was designed to investigate possible faulting and veining in this area. TBD009 intersected strong tin mineralisation with a deeper intercept of high-grade silver and zinc, with assay results including: TBD009: 3.9m @ 0.56% Sn, 8.36g/t Ag & 0.28% Zn from 81m. 5.8m @ 0.21% Sn, 11.5g/t Ag & 0.07% W from 100.4m. 1.9m @ 0.14% Sn, 402.5g/t Ag, 0.19% Cu & 2.83% Zn from 242m, including; 0.45m @ 0.37% Sn, 1640g/t Ag, 0.74% Cu & 11.55% Zn from 243.45m. TBD010 was drilled next to in-fill mineralisation in the southern area of the deposit and provide geological information in an area of previously sparse drilling. This hole will provide a crucial link in the geological model between the southern resource extension area and the central mining area. TBD010 also intersected strong tin mineralisation with results including: TBD010: 2.95m @ 0.46% Sn, 7.84g/t Ag, 0.02% W & 0.52% Zn from 106.8m; SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 2.4m @ 0.12% Sn from 185.5m, including: 0.35m @ 0.58% Sn from 185.5m. Figure 2: Tallebung Tin Project – Plan showing the current boundary of the MRE outlined in the dashed red line with new intercepts shown in Orange from the latest diamond drilling. Highlight intercepts from previous drilling are also shown and latest RC holes are shown in red. Drilling was then completed in the southern open pit, where previous drilling had encountered broad zones of strong tin mineralisation. TBD011 was drilled to in-fill this area and to enable structural measurements to be made of the tin veins, host stratigraphy and any faults intersected to improve the geological modelling of this zone. TBD011 intersected strong tin and silver mineralisation, with results including: TBD011: 41.85m @ 0.15% Sn & 0.02% W from 48.3m, including: 15.93m @ 0.32% Sn, 42.6g/t Ag & 0.02% W from 58.12m, including: 7.98m @ 0.58% Sn, 81.9g/t Ag & 0.02% W from 58.12m, including: 0.4m @ 2.19% Sn, 1920g/t Ag & 0.05% W from 58.12m; and 0.45m @ 7.22% Sn, 22.3g/t Ag & 0.11% W from 62.6m. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 TBD012 was drilled adjacent to the previous southernmost drill-hole at Tallebung, TBRC042. The purpose of this hole was to investigate faulting and potential mineralised extensions at this end of the deposit. TBD012 intersected a post-mineralisation fault which has truncated the mineralisation encountered in TBRC042 resulting in a narrower mineralised intercept than expected. However, this hole has provided extremely important insights into the structural architecture at Tallebung. The information gained from this hole will be invaluable in future geological modelling. Strong tin mineralisation was intersected, with results including: TBD012: 16.3m @ 0.24% Sn, 30.4g/t Ag & 0.12% W from 68m, including: 1.7m @ 0.75% Sn, 165g/t Ag & 0.56% W from 68.3m; and 0.3m @ 3.45% Sn from 84m. Finally, TBD013 was drilled in the base of the central open pit. This hole was designed to test beneath high-grade rock chip results from outcropping tin veins at the base of the central open pit which assayed over 2.10% Sn on average. The hole was designed to intercept these veins shallowly and then to provide coverage of the stratigraphy in this area. Assays successfully confirmed further tin mineralisation well outside of the current MRE and effectively doubled the width of the known mineralisation footprint on the northern margin of the Tallebung deposit. Results include: TBD013: 9.4m @ 0.21% Sn & 0.04% W from 9.5m, including: 0.5m @ 1.72% Sn, 0.28% W & 9.55g/t Ag from 9.5m. ORE SORTING TESTWORK Results from the latest ore sorting testwork reported during the September Quarter showed a substantial increase in tin grade with reasonable recovery of tin in less than 2% of the original mass. This result shows the potential for greater tin grade increases and mass reduction from TOMRA ore sorting, with the payoff between upgrade and tin recovery to be optimised in further testwork (Table 1). Table 1: Tallebung Tin Project – Results for the TOMRA ore sorting testwork. Silver (Ag) shows a strong upgrade and reasonable recovery with the tin (Sn) in the sorted products, however tungsten (W) appears to be largely upgraded in the ‘Fines’ fraction. NB: The ‘High Recovery’ product includes the ‘High Upgrade’ sorted sample. In addition to delivering a much higher tin grade, the benefits of ore sorting and mass reduction include: SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035    Reduced Capex as only a fraction of the sorted mass requires processing, a significantly smaller and lower cost processing plant can be considered to support any future mining operation; Reduced Opex through less mass to process, less selective bulk-mining techniques and lower processing costs; Excellent environmental outcomes including: - A small fraction of the water will be required to produce saleable tin concentrates; - A small fraction of the power will be required to produce saleable tin concentrates tin; and - Reduced mine footprint including smaller waste emplacements such as tailings dams. A sample from drill-hole TBD012 (Figure 3), between 42-92m of PQ half core for a total of 289.2kg, was sent to TOMRA Ore Sorting Solutions test facility in Castle Hill, Sydney, NSW in July this year. The sample was crushed to -40mm and sized with -8mm fraction retained separately as a fines sample. The 8-32mm sample was then sorted via XRT ore sorting to obtain a high tin recovery sorting setting. The product (tin-bearing) fraction was then sorted again for a high tin upgrade sort, intending to recover as much tin as possible from as little mass as possible. This testwork has demonstrated that a large fraction of the tin can be recovered in a very high-grade product which is only <2% of the original mass before sorting. This is an outstanding result that demonstrates Tallebung ore is exceptionally well disposed to the use of ore sorting technology. These results will be incorporated with previous testwork to design a program of optimisation testwork to improve on this initial result. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 Figure 3: Tallebung Tin Project – Plan showing the previous TOMRA ore sporting results from throughout the deposit with the latest aggressive sorting results in Orange and highlight drill intercepts. The current boundary of the Exploration Target outlined in the dashed red line. Results from this program also indicate that a reasonable amount of silver is recovered and upgraded along with the tin in the ore sorted products. Tungsten shows strong upgrading in the ‘Fines’ fraction. Further work will continue to assess the recovery of these by-products for additional revenue from the Tallebung Tin Project. NEXT STEPS With all results from the latest drilling programs at Tallebung received this quarter, SKY’s geologists will use the drilling data, along with the additional tin mineralisation discovered and surface and mine mapping, to further develop the improving geological models to increase the confidence and size of the current MRE at Tallebung. The current Tallebung MRE of 15.6Mt @ 0.15% Sn for 23.3kt of contained Sn (SKY ASX Announcement 23 January 2024) was only estimated over a fraction of the tin mineralisation footprint which has now been delineated. This footprint has been significantly expanded in these latest drilling programs, successfully increasing the deposit footprint and resulting in the discovery of more tin mineralisation. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 Once updates to the geological modelling and MRE have been completed, the Company will be able to determine next steps towards releasing scoping studies to evaluate the potential economics of a mining operation at Tallebung and what additional work may be required to achieve this. Also, a key contributing factor in future economics will be the latest success in ore sorting trials which demonstrated a 44x increase in Sn grade for an 83% recovery of tin to a 4.42% Sn grade in ore sorted product. A series of trenches are proposed to identify 3-4 areas across the deposit for extraction of bulk samples for use in metallurgical testwork and to confirm mining reconciliation against drilling results. These samples will also allow bulk metallurgy studies and the production of a large sample of tin concentrate from the Tallebung deposit. The data collected from all these works will be vital in informing future mining studies at Tallebung. NARRIAH PROJECT (EL 9524, SKY 100%) MAIDEN DIAMOND DRILLING PROGRAM During the March Quarter, compilation of historic data showed strong potential for near surface tin-tungsten mineralisation at the Conapaira Mining Reserve. This was further evidenced by the extensive historic workings in the area. A site visit for ground-truthing historic data, geological mapping and rock chip sampling was completed in the March Quarter and discovered extensive workings throughout the mining reserve and widespread evidence for these workings occurring in close proximity to the Erigolia Granite Margin (Figures 4). Evidence for the close proximately to the granite margin included exposed and preserved roof pendants. Given the prospective position of these historic workings, rock chip samples were taken of areas of outcrop and mine workings. These rock chip samples successfully identified high-grade tin, tungsten and silver mineralisation over a strike length of more than 3km (Figure 4), with results including: – – – 1.80% tin, 13.9g/t silver & 0.05% copper (jn240223-05); 1.50% tin, 0.26% tungsten & 14.7g/t silver (jn240223-04); 1.20% tin & 1.77% tungsten (jn240223-10). GEOPHYSICAL MAGNETICS SURVEY In the September Quarter, a large aeromagnetics survey was flown over the +16km long prospective horizon within the Narriah Project. The results from this survey will be combined with the rock chip results from the Conapaira Mining Reserve to aid in targeting large-scale and high-grade tin and tungsten mineralisation. Furthermore, the potential hard rock tin mineralisation in the majority of the Narriah Project remains untested by previous explorers. The results of the geophysical survey will be combined with the thorough compilation of the historic data and the rock chip results to target follow up drilling, aiming to discover a large-scale and high-grade tin-tungsten deposit. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 Figure 4: Narriah Project – LHS – Plan view with an aerial photo of the Conapaira Mining Reserve showing the location of historic mine working and shafts and results of SKY’s rock chip sampling. RHS – Regional magnetics showing the mineralising 16km long Erigolia Granite within SKY’s EL9524 and the location of the Restdown and Conapaira Mining Reserves near the margin of the mineralising Erigolia Granite. DORADILLA PROJECT (EL 6258, SKY 100%) POLYMETALLIC MINERALISATION – METALLURGICAL TESTWORK PROGRAM A recent review of historic petrology and metallurgical testwork at the Doradilla Tin Deposit identified that the tin is hosted in fine cassiterite in the vicinity of the Doradilla Tin Target on the south-west end of the ‘DMK’ Line. Additionally, this mineralisation has not been tested for concentration via modern flotation methods. This represents an encouraging development at Doradilla. Work is underway to confirm the historic findings and, if confirmed, to test modern flotation methods to concentrate the tin. This work will aim to evaluate if it is possible to produce a saleable tin concentrate using these methods on the Doradilla mineralisation and, subsequently, if there are viable pathways to mine economically at Doradilla. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 SKY is continuing to work with engaged metallurgical consultants, UNSW, ALS Burnie and ANSTO, along with other experts, to continue to develop the broad range of methods available to extract the REE, tin and polymetallic mineralisation on the DMK Line to unlock the high-value, widespread mineralisation discovered at Doradilla. This work will include ongoing data compilations, targeted geophysical surveys as required and continuing geological studies by SKY in partnership with UNSW. CULLARIN PROJECT: GOLD-LEAD-ZINC-COPPER (EL 7954, SKY 80%; DVP JV) HUME TARGET – DIAMOND DRILLING AND DHEM Diamond drilling completed at the Hume Target in 2021 highlighted the potential of the high-grade, gold-lead-zinccopper mineralisation at depth at Hume. HUD031 intercepted intervals of massive sulphides and strong base metal mineralisation, deeper than any previous drilling at Hume. Results included: HUD031: 32m @ 5.09% Pb+Zn, 0.15% Cu, 6g/t Ag from 420m including; 6m @ 8.93% Pb+Zn, 0.51% Cu, 18g/t Ag, 0.13g/t Au from 446m SKY was encouraged by these thicker intervals of mineralisation at the Hume Target. In the March 2023 Quarter, SKY re-entered HUD030 and extended the hole to intercept the Hume Structure 100m below HUD031. Previously, HUD030 had been drilled to 303.6m in 2021 to test for extensions to the strong base metal mineralisation intercepted in HUD005 (6m @ 1.28% Cu & 12.44% Pb+Zn). HUD030 was extended and drilled on to 702.4m. Geological logging and modelling of HUD030 indicated that the hole had drilled through an interpreted moderately west-dipping fault named the Eastern Fault. Although the hole intersected multiple zones of intense sericite-silicapyrite alteration, results were subdued. The assay results and advances in the geological understanding of the Hume Target from this drilling will be studied by SKY geologists to identify any further targets for expanding the gold-rich, polymetallic mineralisation at the Cullarin Project. SKY is evaluating a number of new approaches to delineate and target further mineralisation at Cullarin in the coming quarters. These will aim to highlight prospective areas for discovering more of the high-grade mineralisation already encountered across the project. IRON DUKE PROJECT: COPPER-GOLD (EL6064 & 9191, SKY 100%) 100% SKY (EL6064 & 9191) SKY exercised the option to purchase EL6064 – Iron Duke Project and SKY now holds 100% of the Project. The Iron Duke Project covers the Iron Duke Shear Zone, which extends over a strike length of at least 4km and remains open to the south. Several historic copper mines occur along the Iron Duke Shear Zone including the Iron Duke, Christmas Gift, Monarch, Mount Pleasant and Silver Linings mines, along with several unnamed copper workings and shafts. In the June 2021 Quarter, SKY completed a maiden drilling program at the Iron Duke Mine, in conjunction with a VTEM survey and DHEM, to identify extensions to the high-grade copper-gold mineralisation along the Iron Duke Shear Zone (SKY:ASX Announcement 2nd June 2021). An RC and diamond drilling program is planned to test for further extensions to the Iron Duke mine and test the previously undrilled historic mines at the Christmas Gift Workings (comprising of the Christmas Gift, Monarch, Mount Pleasant and Silver Linings mines). This program was delayed due to extremely wet ground conditions preventing access to the area. Currently, this program is planned for the following quarters after a detailed review of the geophysics, mining records, historic data and previous drilling to develop robust targets for further drill testing and expansion of the known Iron Duke mineralisation. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 CALEDONIAN PROJECT: GOLD 100% SKY (EL8920 & EL9020) SKY has now completed a soil sampling program, a phase of AC drilling, two phases of RC drilling and two diamond drill holes at the Caledonian Target. A review of both SKY’s and historic results indicates that the Caledonian gold mineralisation likely represents a shallow, sub-horizontal blanket of oxide and supergene gold mineralisation developed over an oxidised skarn. SKY completed a shallow aircore (AC) drilling program over the area consisting of 38 vertical AC holes for a total of 697m on 50-100m spacing over the 600m x 400m area of mineralisation defined by the previous drilling, soil sampling and costeaning. Due to significant ground waters intersected by the AC drilling, which prevented all but four of the 38 holes drilled from reaching refusal, SKY does not consider the target concept of a shallow, subhorizontal blanket of oxide and supergene gold mineralisation to have been effectively tested. These results will be evaluated, along with the previous drilling, to direct SKY to further shallow high-grade oxide gold mineralisation in the target area. SKY has been informed of the proposed development of a solar farm on the northern area of EL8920. This area covers the Jerrawa Strike, which is a trend of metallic occurrences that SKY interprets to be an exhalative horizon with strong potential to host gold-silver and base metal mineralisation. SKY is continuing to work with the solar farm developers to ensure that the solar farm will not be developed over significant mineralisation. The work to date has delineated a gold soil anomaly which SKY plans to follow up in the following quarters, pending ongoing negotiations with the Solar Farm developers. GALWADGERE PROJECT: COPPER-GOLD 100% SKY (EL6320) SKY and Burrendong Minerals Ltd (BML) have entered into to a purchase agreement for the divestment of SKY’s non-core Galwadgere Project. Galwadgere, EL6320, will be purchased outright with $600,000 worth of BML shares on the successful IPO of BML within a year from the commencement of the agreement. Burrendong Minerals has a portfolio of projects centred on the area around the Galwadgere Project, including the Commonwealth Deposit. BML aims to list on the ASX with an IPO planned in the coming months with a portfolio of nearby projects which complement and include the Galwadgere Project in NSW. The divestment of the non-core Galwadgere Project allows SKY to remain focused on developing the Company’s core assets. KANGIARA PROJECT: GOLD 80% SKY (EL8400 & EL8573; DVP JV) The Kangiara Project (EL8400, EL8573) is located 30km north-west of Yass in the Southern Tablelands of New South Wales (Figure 5). The project contains volcanic/volcaniclastic rocks of the Silurian Douro Group, considered prospective for gold and base metal (copper-zinc) mineralisation. The high-grade Kangiara Mine operated during the early 1900s, with documented production of ~40,000 tonnes at 16% Pb, 3% Cu, 5% Zn, 280g/t Ag and 2g/t Au from narrow north-south trending sulphide veins (ASX: PDM 18 June 2009). Previous work by Paradigm Metals led to the calculation of an Indicated and Inferred Mineral Resource at Kangiara. Desktop studies have identified potential for copper-gold mineralisation at the Crosby Prospect. Field investigations are planned for the upcoming quarters to investigate this prospect. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 CORPORATE APPOINTMENT OF MANAGING DIRECTOR During the Quarter, the Company’s CEO, Mr Oliver Davies, was promoted to Managing Director. This appointment reflects Mr Davies’ significant contribution to SKY to date and the Board’s desire for his ongoing contribution as a director through the company’s next phase of development, building long-term value for shareholders. FINANCIAL During the quarter $1,243k was spent on the exploration activities outlined in this report. No mining production and development activities were undertaken for the quarter. During the quarter $48k was paid as Non-Executive Director fees. Table 2: Tenement Summary. Holder Equity Licence ID Grant Date Expiry Date Units Area Comment Tarago Exploration Pty Ltd (DVP sub) 80% EL7954 19-6-2012 19-6-2028 51 144 km2 Cullarin Project, SKY: DVP JV Ochre Resources Pty Ltd (DVP sub) 80% EL8400 20-10-2015 20-10-2024 52 147 km2 Kangiara Project, SKY: DVP JV Renewal submitted Ochre Resources Pty Ltd (DVP sub) 80% EL8573 23-5-2017 23-5-2029 17 48 km2 Kangiara Project, SKY: DVP JV Aurum Metals Pty Ltd (SKY sub) 100% EL8920 5-12-2019 5-12-2025 65 183 km2 Caledonian Project Aurum Metals Pty Ltd (SKY sub) 100% EL9120 30-3-2021 30-3-2027 50 141 km2 Caledonian Project Galwadgere Project Cuprum Aurum Pty Ltd (SKY sub) 100% EL6320 12-10-2004 12-10-2026 14 41 km2 -Purchase to preIPO Burrendong Minerals Ltd Balmain Minerals Pty Ltd (SKY sub) 100% EL6064 21-3-2003 20-3-2028 5 15 km2 Iron Duke Project Balmain Minerals Pty Ltd (SKY sub) 100% EL9191 8-6-2021 8-6-2027 60 174 km2 Iron Duke Project Stannum Pty Ltd (SKY sub) 100% EL6258 21-6-2004 21-6-2026 38 113 km2 Doradilla Project Stannum Pty Ltd (SKY sub) 100% EL6699 10-1-2007 10-1-2027 14 41 km2 Tallebung Project Stannum Pty Ltd (SKY sub) 100% EL9524 8-2-2023 08-02-2029 92 262 km2 Narriah Project Stannum Pty Ltd (SKY sub) 100% ELA6786 Applied for on 5-7-2024 - 101 287 km2 Narriah Project – Application SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 This report has been approved for release by the Board of Directors. ABOUT SKY (ASX: SKY) SKY is an ASX listed public company focused on the exploration and development of high value mineral resources in Australia. SKY’s project portfolio offers exposure to the tin, gold, and copper markets in the world class mining jurisdiction of NSW. TIN PROJECTS TALLEBUNG PROJECT (EL6699, 100% SKY) The Tallebung Project is located ~70km north-west of Condobolin in central NSW. The project encompasses the historic Tallebung Tin Mining Field at the northern extent of the Wagga Tin Belt within the central Lachlan Orogen where SKY has a updated MRE of 15.6Mt @ 0.15% Tin1. SKY plans to advance the Tallebung by increasing the resource to the 23-32Mt1 Exploration Target and progress development for future mining (1SKY ASX Announcement 23 January 2024). DORADILLA PROJECT (EL6258, 100% SKY) The Doradilla Project is located ~ 30km south of Bourke in north-western NSW and is a large and strategic REE and tin project with excellent potential for associated polymetallic mineralisation (tungsten, copper, bismuth, indium, nickel, cobalt). NARRIAH PROJECT (EL9524, 100% SKY) The Narriah Project is located ~70km west of West Wyalong in western NSW and represents a large tin project with multiple historic workings prospective for tin, tungsten and lithium mineralisation with limited drill testing completed to date. COPPER GOLD PROJECTS IRON DUKE (EL6064, EL9191 100% SKY) The Iron Duke project is located ~10km southeast of Tottenham in central NSW and covers at least 4 signifi