Announcement PDF ASX: SKY ASX ANNOUNCEMENT 30 October 2023 Resource Expansion Drilling Successfully Expands the Tallebung Tin Project Quarterly activities report to 30 September 2023 Tallebung Project  The Resource Expansion Drilling Program was completed during the quarter comprising 25 RC drillholes for a total of 4,759m along with 4 diamond drillholes for a total of 947.8m for metallurgical and geotechnical studies to inform future mining.  Assay results were received for 15 of the 25 holes and added multiple new intercepts to the tin mineralisation to expand the tin resources at Tallebung, results include: TBRC059: 19m @ 0.27% Tin from 17m, including; 5m @ 0.83% Tin from 19m. TBRC056: 10m @ 0.31% Tin from 68m, including; 1m @ 0.94% Tin from 69m TBRC057: 6m @ 0.49% Tin & 40g/t Silver from 34m, including; 1m @ 2.30% Tin & 83.8g/t Silver from 35m.  Assays for the remaining 10 holes are pending, to be received in the next quarter.  On receipt of the remaining assays, these holes will be added to a new MRE, with a target to substantially increase the maiden MRE of 10.2Mt @ 0.18% Tin at a 0.10% Tin cutoff* in the next quarter - building towards a ‘critical mass’ for Mine Scoping Studies. Narriah Project  Rock chip samples collected from a >1km strike of historic tin and tungsten mines identified strong tin and tungsten with associated lithium mineralisation, returning grades up to: 3.59% Tin and 1.66% Tungsten with 0.19% Lithium.  A total of six diamond drillholes were completed to drill test the previously untested historic Tin and Tungsten mines at Narriah for a total of 483.05m in the quarter.  Drilling assays are eagerly anticipated in the next quarter. * For further details on the maiden MRE for Tallebung please see SKY ASX Announcement 22 March 2023. SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 December 2023 Quarter – Proposed work Program Tallebung Project    Continue building towards Mine Scoping Studies to assess the economic potential at Tallebung. Complete an updated MRE to include the latest drilling results at Tallebung once all assay results are received. Further diamond and RC drilling (as required) to grow the maiden MRE and increase confidence in the tin resources over the coming quarter to release Mine Scoping Studies. Narriah Project    Sample and assay diamond drillholes testing the historic Tin and Tungsten mines at depth. Assess the potential for Lithium mineralisation at the Narriah Project in the historically mapped pegmatites and granitic rocks hosting the Tin and Tungsten mineralisation. Airborne geophysical magnetic survey to increase drill targeting to discover further tin and tungsten along with potential Lithium mineralisation within the Narriah Project. Doradilla Project  Continue the REE mineral characterisation and metallurgical testwork to find potential extraction pathways for the high-value tin, REE and polymetallic mineralisation at Doradilla. The Board of Sky Metals Limited (‘SKY’ or ‘The Company’) is pleased to provide a Quarterly Activities Report outlining SKY’s exploration program during the September 2023 quarter. TALLEBUNG PROJECT (EL 6699, SKY 100%) TALLEBUNG PROJECT – RESOURCE EXTENSION AND INFILL RC DRILLING The first phase of RC drilling was completed in the quarter for 25 holes for a total of 4,759m designed to grow SKY’s maiden MRE of 10.2Mt @ 0.18% Tin for 18.4kt at a 0.10% Tin cut-off grade and convert the estimated Exploration Target of 16 – 21Mt at a grade ranging between 0.16 - 0.20 % tin at 0.1% Tin cut-off, into additional resources (SKY ASX Announcement 22 March 2023). The first phase of this drilling targeted the southern and central areas of the historic Tallebung Tin Mining Field where the majority of the historic hardrock workings are located (Figure 1). Holes TBRC047-TBRC055, TBRC068 & TBRC071 were drilled into the central area of the historic Tallebung Tin Mining Field. This area has strong potential to add significant resources to increase the maiden MRE. The area previously had only very sparse drilling while having the most intensive historic hardrock mining activity, evidenced by the multiple open pits and shafts which are densely distributed over the area, showing the potential for additional resources with drilling. Assay results from TBRC047-TBRC055 drilled in the central mining area were received during the quarter and results included: TBRC047: 29m @ 0.09% Tin from 56m, including; 10m @ 0.15% Tin from 75m, including; 2m @ 0.55% Tin, 0.05% Tungsten & 50g/t Silver from 75m. TBRC048: 16m @ 0.15% Tin & 0.04% Tungsten from 2m; 41m @ 0.10% Tin from 76m, including; 4m @ 0.32% Tin & 58.1g/t Silver from 4m. 2 Figure 1: Tallebung Tin Project – Plan showing drilling with the extent of the current Exploration Target along with locations of recently completed holes and planned holes in the resource expansion and infill drilling program, overlaid on the geological map (new assays are in yellow). 3 Figure 2: Tallebung Tin Project – Cross-section through the northern-most traverse in the recent drilling of TBRC008-TBRC019/25 and shows tin mineralisation is strongest where the host rock sequence predominately psammite-rich, with fewer pelite interbeds. TBRC049: 22m @ 0.11% Tin from 3m, including; 1m @ 1.25% Tin from 21m; TBRC050: 19m @ 0.21% Tin, 0.03% Tungsten & 21g/t Silver from 158m, including; 2m @ 2.09% Tin, 0.05% Tungsten & 178g/t Silver from 162m. TBRC051: 26m @ 0.10% Tin from 148m, including; 2m @ 0.35% Tin from 75m, including; TBRC052: 6m @ 0.21% Tin, 52.6g/t Silver & 1.85% Zinc from 132m. TBRC053: 1m @ 1.08% Tungsten, 0.17% Tin, 38.6g/t Silver from 77m (Tungsten Lode), and; 8m @ 0.15% Tin & 61.4g/t Silver from 83m. TBRC054: 10m @ 0.11% Tin from 15m, including; 2m @ 0.33% Tin from 75m. TBRC055: 16m @ 0.11% Tungsten & 35.6g/t Silver from 149m (Tungsten Lode), and; 1m @ 0.34% Tin, 423g/t Silver & 0.28% Copper from 157m. 4 The remainder of the holes, TBRC056-67 & TBRC069-70 were drilled in the Southern area of the Tallebung Tin Mining Field. Recent results this year such as TBD003 (60.55m @ 0.36% Tin from 23m) (SKY ASX Announcement 19 April 2023) have highlighted the presence of a high-grade zone in the southern area. Drilling targeted expanding this high-grade area and increasing the confidence of the resources in this high-grade zone. Assay results for TBRC056-TBRC061 were also received this quarter and link the high-grade intercept in TBRC042 (11m @ 0.81% Tin from 27m) further south to the high-grade zone in TBD003 over a 400-300m strike. These results also show that the Tallebung tin deposit remains open along strike to the south. Results included: TBRC056: 10m @ 0.31% Tin & 0.05% Tungsten from 68m, including; 1m @ 0.94% Tin from 69m, including; TBRC057: 6m @ 0.49% Tin & 40g/t Silver from 34m, including; 1m @ 2.30% Tin & 83.8g/t Silver from 35m, and; 6m @ 0.39% Tin, 0.42% Tungsten & 83.8g/t Silver from 88m, including; 2m @ 0.83% Tin, 1.14% Tungsten & 31.4g/t Silver from 88m. 22m @ 0.19% Tin from 174m, including; 1m @ 3.75% Tin & 2.10% Zinc from 191m. TBRC058: 37m @ 0.17% Tin & 0.05% Tungsten from 124m, including; 3m @ 0.49% Tin from 158m. TBRC059: 19m @ 0.27% Tin from 17m, including; 5m @ 0.83% Tin from 19m. TBRC060: 20m @ 0.10% Tin from 147m, including; 1m @ 0.51% Tin from 150m. TBRC061: 8m @ 0.12% Tin from 49m, and; 1m @ 0.38% Tin & 0.12% Tungsten from 52m. 5m @ 0.20% Tin from 72m This first phase of drilling has successfully confirmed and extended the high-grade areas and SKY will now plan the further drilling required to establish this area as indicated resources as necessary in the second phase of RC drilling, along with discovering extension to the tin mineralisation to increase the maiden inferred MRE. On receipt of all of these results, SKY will plan a second phase of drilling to convert a ‘critical mass’ into inferred and indicated resources. This critical mass will then allow for mine scoping studies to commence on the Tallebung Tin Project to evaluate the key project economics. All pending results are anticipated to be received in the December quarter and a new MRE for the Tallebung Tin Project will be estimated on receipt of these remaining results. TALLEBUNG PROJECT – DIAMOND DRILLING Diamond drilling has been completed concurrently with the RC program and was completed across the entire strike of the maiden MRE. Four holes (TBD005-TBD008) have been completed for a total of 947.8m. All holes completed (TBD005-TBD008) have intercepted the characteristic coarse cassiterite-hosted tin mineralisation at Tallebung (Figure 3). The confirmation of the uniform and uniquely coarse cassiterite tin at Tallebung is very important as it continues to show that the excellent metallurgical advantages of the Tallebung 5 mineralisation are present throughout the deposit. This indicates that the tin can be concentrated into a saleable concentrate readily and cheaply using simple ore sorting and gravity processing. TBD005 was drilled to target tin lodes at depth and intercepted strong veining with visible coarse cassiterite from 206-242m DH (Figure 2). TBD006 was then drilled on the southern extent of the maiden MRE near hole TBRC042 (11m @ 0.81& Tin from 27m). TBD006 has intercepted very coarse cassiterite, as found in all other holes drilled to date at Tallebung, demonstrating the consistent nature of the tin mineralisation at Tallebung as being hosted in coarse cassiterite. TBD007 targeted down dip and along strike extensions to the strong tin mineralisation intercepted in the vicinity of TBRC034 (43m @ 020% Tin from 5m) and TBD008 was then drilled to test extensions to tin mineralisation in the north of the central area of the Tallebung Tin Mining Field (Figure 1 and 2). These holes have been logged for detailed geotechnical studies to aid in future mine planning and mine open pit designs for any future mining excavation. These diamond drillholes are being drilled with wide diameter PQ drill core to over 150m downhole to provide material for bulk samples for further representative metallurgical testing. The metallurgical testwork will aim to improve on the current simple processing methods available for the Tallebung mineralisation due to the coarse nature of the cassiterite-hosted tin. This work will include providing further representative samples for TOMRA Ore Sorting testwork to confirm and possibly improve on the excellent results achieved to date showing a low-cost processing pathway for the Tallebung tin mineralisation. Figure 3: Tallebung Tin Project – LHS: drillcore from approx. 225m DH in TBD005 showing the coarse cassiterite tin mineralisation present at Tallebung. Centre: Drillcore from 29.3-32.4m DH in TBD006 with strong quartzcassiterite veining throughout. RHS: Veining from 30.8m DH showing the coarse nature of the cassiterite-hosted tin at Tallebung. Drill core is 83mm wide for scale. In relation to the disclosure of visible mineralisation, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information 6 regarding impurities or deleterious physical properties relevant to valuations. The Company will update the market when laboratory analytical results become available, expected from late-October 2023. TALLEBUNG PROJECT – FORWARD WORK PROGRAM When the remainder of the results from the first phase of resource expansion RC drilling and assays from the diamond drilling are all received, the results will be included in an updated MRE. This MRE will then be used to plan a follow-up second phase of RC drilling as required to increase the resources and Exploration Target of 1621Mt @ 0.16-0.20% Tin to a ‘critical mass’ for releasing mine scoping studies to evaluate the key project economics for potential future mining at Tallebung. Additionally, samples will be taken from the diamond drilling program to undergo further metallurgical testing, including variability testing by TOMRA Ore Sorting Solutions to prove that the mineralisation can be consistently ungraded across the entire strike and depth of the deposit and that the low-cost processing pathway for the Tallebung tin mineralisation are consistent throughout the deposit. NARRIAH PROJECT (EL 9524, SKY 100%) RESTDOWN MINES – DIAMOND DRILLING PROGRAM SKY completed the maiden diamond drilling program at the Narriah Project to drill test the numerous historic shafts and small open pits were observed at six areas of workings, namely the Greenland, North Pole, Arctic, Iceland, Restdown and Tex Prospects, collectively referred to as the Restdown Mining Area (Figure 4). In the previous quarter, forty (40) rock chip samples were collected from the limited outcrop and old mine dumps at the Restdown Mining Area. Samples returned results up to 3.59% Tin & 1.66% Tungsten (samples OD2023060126 & 15 respectively) (SKY ASX Announcement 5 July 2023). Drilling targeted extensions to these grades at depth under the historic workings. Anomalous Lithium, up to 0.19% Li2O, was also discovered to be associated with the granitic host rock of the Tin and Tungsten mineralisation previously mined at the Restdown Mining Area. In addition to the rock chips collect, level sampling of the historic mines recorded a highlight tin result of 8m @ 0.81% tin in underground mapping from 1977. Historical level sampling did not assay for lithium. Following these very encouraging rock chip results and identification of extensive historical workings, SKY has drill tested these targets this quarter with a total of six (6) shallow diamond drillholes for a total of 483.05m. Two shallow diamond drill holes were drilled to test under Arctic and Tex Prospects, a hole was drilled to test the alluvial tin and basement under the Restdown Prospect and a final hole was drilled under the Greenland Prospect for a total of six (6) drillholes. These holes will now be sampled and assays are eagerly anticipated for this maiden drilling program in the coming quarter. 7 Figure 4: Narriah Project – LHS - Geological map of the Restdown Mining Area showing collars for recent diamond drillholes and the limited outcrop with location of historic mining shafts. RHS – Regional magnetics showing the mineralising 16km long Erigolia Granite within SKY’s EL9524 and the location of the Restdown Mining Area enlarged on the LHS. 8 Table 1: Narriah Project: Drillhole Collar Details. Hole ID Easting (MGA) Northing (MGA) RL (m) DIP Azimuth (MGA) Total Depth (m) Comment RED001 RED002 RED003 RED004 RED005 RED006 450620 450630 451005 451012 450635 450542 6246236 6246252 6245345 6245291 6245852 6245519 123 123 123 123 123 123 -55 -60 -60 -60 -55 -60 79.72 79.72 199.72 358.72 74.72 219.72 84.2 80.7 80 84.15 74 80 Completed – Assays Pending Completed – Assays Pending Completed – Assays Pending Completed. Highly silicified – Assays Pending Completed – Assays Pending Completed – Assays Pending DORADILLA PROJECT (EL 6258, SKY 100%) RARE EARTH ELEMENT MINERALISATION – METALLUGICAL TESTWORK PROGRAM Samples from the aircore drilling program completed in the previous quarter along with key samples from previous drilling programs have been sent to UNSW for mineralisation characterisation work to inform potential metallurgical pathways to develop the Doradilla Project. UNSW has identified the clay hosted REE mineralisation to be hosted in an Apatite-group minerals which has been observed to be finely disseminated throughout the weathered clay profile and proximal to the weathered skarn along the entire 16km line DMK Line. SKY will continue this characterisation work and will use these results to assist ALS Burnie and ANSTO in developing a pathway for metallurgical concentration and/or extraction of the REE mineralisation discovered at Doradilla. A first pass trial of ammonium sulphate (AS) leaching at a solution pH of 4 and pH of 3 by ANSTO for samples from the DMK Line has not shown promise for economic extraction of REE via this method in the samples provided to date. However, this is one of many possible methods for economic REE extraction that may be investigated. It is likely that a number of other extraction pathways will be available given the strong grades and the high value of mineralisation present at the project. SKY will continue 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. 9 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 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 (Figure 5). Initial 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 intercept multiple zones of intense sericite-silica-pyrite 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 over the coming quarters to identify any further targets for expanding the gold-rich, polymetallic mineralisation at the Cullarin Project. Figure 5: Hume Target – Cross-section of HUD030 showing the trace in red of the extension of the hole to test the Hume Structure at depth and provide a platform for DHEM. 10 IRON DUKE project: COPPER-GOLD 100% SKY (EL6064 & 9191) This quarter SKY exercised the option to purchase EL6064 – Iron Duke Project and SKY now holds 100% of the Iron Duke Project. The Iron Duke Project covers the Iron Duke Shear Zone which is at least 4km in strike and 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 condition 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 Iron Duke mineralisation. 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 SKY’s and historic results indicates 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. Dure to significant ground waters intercepted by the AC drilling, preventing all but 4 of the 38 holes drilled from reaching refusal, SKY does not consider the target concept of a shallow, sub-horizontal 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 an option to purchase agreement for the divestment of SKY’s non-core Galwadgere Project. The agreement is in two stages, as below: 11 Stage 1: Following exploration expenditure of $250,000 within 18 months of executing the Purchase Agreement, BML will earn an option to purchase 100% interest in EL6320. Stage 2: After satisfying stage 1, BML may elect to purchase EL6320 outright with either $600,000 worth of BML share or cash at BML’s election. 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 this portfolio of projects proximal and complimentary to the Galwadgere Project in NSW. The divestment of the non-core Galwadgere Project allows SKY to remain focused on developing SKY’s core assets. KANGIARA project: GOLD 80% SKY (EL8400 & EL8573; DVP JV) The Kangiara Project (EL8400, EL8573) is located 30km northwest of Yass in the Southern Tablelands of New South Wales (Figure 10). 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. Further desktop studies and followup field investigations are planned for the following quarters. TIRRANA PROJECT: GOLD 100% SKY (EL9048) As part of a regional review of the Cullarin area for McPhillamys-style gold mineralisation, SKY identified an area of open ground to the south-east of the Cullarin project. A detailed desktop review of previous exploration covering Tirrana was completed in the December 2021 quarter. This review identified two key areas for follow up. NEW ENGLAND project: Tin 100% SKY (El9200) The New England Projects in the New England Orogen of NSW cover areas of significant historical tin production at Emmaville. These areas were selected as they were considered to have significant potential to host hardrock tin resources and limited modern-day exploration has been conducted. Additionally, recent reviews of the geochemistry of the intrusions in the licence area have identified significant potential for REE mineralisation to have developed in some suitable geological settings. During the quarter the Gilgai tenement was relinquished due to a lack of prospectivity identified by SKY geologists. A detailed desktop review of previous exploration will continue for the Emmaville Project for the following quarters with field work planned to follow-up any prospective targets which are identified. 12 Corporate SKY elected to exercise the option to purchase the Iron Duke Project. In September this quarter, SKY issued 6,841,294 shares and 781,862 options in SKY (exercisable at $0.064 within two years of the date of issue) to acquire 100% of the issued capital in Balmain Minerals Pty Limited which holds the Iron Duke Project (EL6064). During the quarter $1,295k was spent on the exploration activities outlined in this report. No mining production and development activities were undertaken for the quarter. During the quarter $34k was paid as Non-Executive Director fees. Table 4: Tenement Summary. Holder Equity Licence ID Grant Date Expiry Date Units Area Comment Tarago Exploration Pty Ltd 80% (DVP sub) EL7954 19-6-2012 19-6-2028 51 144 km2 Cullarin Project, SKY: DVP JV Ochre Resources Pty Ltd (DVP 80% sub) EL8400 20-10-2015 20-10-2024 52 147 km2 Kangiara Project, SKY: DVP JV Ochre Resources Pty Ltd (DVP 80% sub) EL8573 23-5-2017 23-5-2029 17 48 km2 Kangiara Project, SKY: DVP JV Aurum Metals Pty Ltd (SKY 100% sub) EL8920 5-12-2019 5-12-2025 65 183 km2 Caledonian Project Aurum Metals Pty Ltd (SKY 100% sub) EL9120 30-3-2021 30-3-2027 50 141 km2 Caledonian Project Aurum Metals Pty Ltd (SKY 100% sub) EL9048 15-2-2021 15-2-2026 52 147 km2 Tirrana Project Cuprum Aurum Pty Ltd (SKY 100% sub) EL6320 12-10-2004 12-10-2026 14 41 km2 Galwadgere Project -Option to purchase to pre-IPO Burrendong Minerals Ltd Balmain Minerals Pty Ltd (SKY 100% sub) EL6064 21-3-2003 20-3-2028 5 15 km2 Iron Duke Project Cuprum Aurum Pty Ltd (SKY 100% sub) 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% EL9200 21-06-2021 21-06-2027 74 221 km2 Emmaville Project Stannum Pty Ltd (SKY sub) 100% EL9524 08-02-2023 08-02-2029 92 262 km2 Narriah Project 13 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 now defined a maiden MRE of 10.2Mt @ 0.18% Tin*. SKY plans to advance the Tallebung by increasing the resource to the 16-21Mt* Exploration Target and progress development for future mining (*SKY ASX Announcement 22 March 2023). 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. NEW ENGLAND PROJECT (EL9200 & 9210, 100% SKY) Two exploration licences in the New England Orogen covering areas of significant historical tin production. 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 significant historic copper-gold mines. High grade copper-gold mineralisation intersected by previous explorers (e.g. 13m @ 1.56% Cu & 4.48g/t Au). GALWADGERE (EL6320, 100% SKY) The Galwadgere project is located ~15km southeast of Wellington in central NSW. An open MRE of 3.6Mt @ 0.78% Cu and 0.28g/t Au defined at Galwadgere with numerous targets with limited drilling testing adjacent to the MRE. GOLD PROJECTS CULLARIN / KANGIARA projects (EL7954; EL8400 & EL8573, DVP JV) The Cullarin Project contains equivalent host stratigraphy to the McPhillamys deposit with a similar geochemical, geophysical & alteration signature. ‘McPhillamys-style’ gold results from previous drilling at the Cullarin Project. SKY’s maiden drill program was successful, including HUD002 which returned 93m @ 4.2 g/t Au from 56m. CALEDONIAN / TIRRANA PROJECTS (EL8920, EL9048, EL9120 100% SKY) Highlight, ‘McPhillamys-style’ gold results from previous exploration include 36m @ 1.2 g/t Au from 0m to EOH in drillhole LM2 and 81m @ 0.87g/t Au in a costean on EL8920 at the Caledonian Project. Figure 6: SKY Tenement Location Map 14 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 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 Edi