Announcement PDF Page 1 Beasley Creek Project – Independent Geological Review Confirms Orogenic Gold Potential HIGHLIGHTS ➢ Independent review confirms strong prospectivity for shear-hosted orogenic gold across the project, positioned along the Mithgoondy Shear Zone and related structures ➢ Flamingo identified as the standout drill-ready target, defined by coincident soil anomalism, magnetic features, favourable lithologies and structural trends ➢ Historical drilling1 returned 4m @ 11.4 g/t Au (20–24m) in RRC15, with the mineralised zone remaining open to the north under updated structural interpretation ➢ Follow-up drilling is warranted, with prior work never properly testing the interpreted extensions along strike or at depth ➢ Regional setting is consistent with Paulsens-style gold systems, influenced by the northern Capricorn Orogen and mantle-tapping structures including the Soda Fault ➢ Pending tenements show gold-anomalous stream sediments, providing immediate secondary targets once granted Catalina Resources Limited (ASX: CTN) (“Catalina” or “the Company”) is pleased to announce it has completed an independent technical review of the Beasley Creek Gold Project, undertaken by APEX Geoscience. The assessment consolidates all historical drilling, surface geochemistry, geophysical datasets and regional structural information into a unified exploration model across both the granted and pending tenements. The outcomes provide a coherent basis for an initial, tightly focused exploration program, with clearly defined structural corridors, geochemical trends and drill-ready targets positioned to support the next phase of work. Catalina Executive Director, Ross Cotton, commented: “This review sharpens our understanding of the structural architecture at Beasley Creek and confirms the presence of a coherent shear-hosted gold system. Importantly, it elevates Flamingo to a genuine high-priority target — a rare opportunity where soil anomalism, geophysics and historical high-grade drilling all align, yet the system remains effectively untested. We now have a clear pathway to value: tighten the geochemical coverage, step north of the 11.4 g/t intercept, and prepare for targeted drilling once access and approvals are in place. With additional anomalies emerging on the pending ground, Beasley Creek is shaping as a project capable of delivering meaningful discovery outcomes for shareholders, and we will advance it aggressively.” ASX Announcement 8 December 2025 Page 2 Regional Context Catalina’s 100% owned Beasley Creek Project lies within a broader district (Figure 1) that hosts several established gold deposits, including the former Paulsens Gold Operation, previously operated by Blackcat Syndicate (ASX :BC8).Paulsens produced 907,344oz at 7.3 g/t Au, averaging approximately 75koz per annum between 2005 and 2017. The operation was subsequently acquired by Black Cat Syndicate for remnant mining of the existing resource, with first gold poured in December 2024. Beasley Creek occupies a geologically prospective and underexplored portion of this district, where historical work has been limited in scope and depth, with minimal modern geophysics or systematic geochemical testing undertaken to date. Figure 1. Regional location diagram of the Beasley Gold Project (E47/3490) Structurally Controlled Orogenic Gold Setting The Beasley Creek Project (fugure 2) lies within the northern Capricorn Orogen, a region characterised by multiple tectonothermal events and deep crustal structures that have repeatedly channelled hydrothermal fluids. Within this framework, the project is influenced by the major Soda and Nanjilgardy Fault systems, which are interpreted to extend to the Moho and are recognised conduits for gold-bearing fluids, with documented associations to deposits such Blackcat Syndicate’s (ASX:BC8) Paulsens gold operation. At the project scale, the Mithgoondy Shear Zone forms a north-dipping mylonitic corridor marking the boundary between Archean granite–greenstone terrain and Fortescue Group stratigraphy, focusing deformation, alteration and fluid movement along its length. Importantly, the Mithgoondy Shear Zone passes Page 3 directly through the Beasley Creek tenement, where it represents the principal structural feature controlling the distribution of lithologies and the localisation of hydrothermal pathways. Together, the deep regional faults and the well-developed local shear system establish a structural architecture capable of supporting orogenic gold deposition, providing a strong and coherent geological basis for exploration targeting within the project area. Figure 2. Beasley Creek Regional Geology Flamingo Target Confirmed as a First-Order Drill Priority The Flamingo Target has been identified as the Company’s highest-ranked exploration priority due to the convergence of independent datasets.Surface geochemistry defines a linear, kilometre-scale multi-element (Au–Cu–As) anomaly that tracks the Mithgoondy Shear Zone, while RTP magnetics display a discrete structural discontinuity coincident with sheared mafic and felsic host rocks (figures 3 ,4 and 5). The combined structural architecture, geochemical footprint and favourable lithological setting are consistent with signatures typical of shear-hosted orogenic gold systems within the Capricorn Orogen. Importantly, despite several generations of surface sampling, the target area has not been drill-tested, and the integration of geophysical, geochemical and structural evidence now provides a clear and coherent basis for advancing Flamingo as a priority early-stage drill target. Page 4 Figure 3. Rocklea map sheet overlain on TMI magnetic image showing the Flamingo target coinciding with the termination of a mapped structural trend and a NW-SW trending dolerite. Figure 4. Anomalous Au, Cu, and As soil sample and magnetics coinciding with the structural trend north of the Mithgoondy Shear. Page 5 Figure 5. 100k Geology and soil sampling associated with Flamingo Target area High-Grade Historical Intersection at RRC15 Provides Immediate Drill Opportunity GSWA’s analysis of gold from historical alluvial workings confirms a hydrothermal origin with minimal transport, indicating a proximal vein-related source rather than detrital or conglomerate-hosted mineralisation. This conclusion aligns with the structural model applied at Beasley Creek and supports the interpretation that mineralisation is associated with the principal shear systems in the area. Within this context, the historical intersection of 4m at 11.4 g/t Au1 in RRC15 occurs at the contact between the basal Fortescue conglomerate and underlying sheared greenstones, a position consistent with a structurally controlled hydrothermal system (Figure 6.) The historic structural interpretation indicates that the mineralised zone dips to the north, leaving the original vertical hole sub optimally oriented and the down-dip extension untested. Given the shallow position of the historical intercept and its location on a favourable structural plane, a targeted confirmation hole offers a technically justified, low-cost opportunity to determine continuity and validate a result that has remained untested for more than two decades. Page 6 Figure 6. Interpreted Geology Beasley Central prospect Persistent Pathfinder Anomalism Reinforces Regional Potential Multiple generations of soil and stream-sediment sampling define a consistent multi-element geochemical signature (Au, Cu, As,) aligned with the Mithgoondy structural corridor. These anomalies are present across different datasets, sampling vintages and analytical methods, demonstrating a persistent geochemical response that is spatially coherent with the project’s principal structural trends. The anomalism extends onto the pending tenements (E47/5364 & E47/5366), indicating potential continuity of the mineralised system beyond the currently granted tenure. The presence of these pathfinder elements— supports the interpretation of hydrothermal fluid movement associated with orogenic gold systems and provides reliable geochemical vectors for both immediate drill targeting within the core project area and early-stage reconnaissance across the broader holdings. Page 7 Figure 7. Generational Soil and Stream soil and stream-sediment sampling 2026 Exploration Incentive Scheme (EIS) Co-Funding Application Catalina intends to apply for co-funding under the Western Australian Government’s Exploration Incentive Scheme (EIS) to support the initial drilling program at Beasley Creek. The independent technical review has identified several high-priority structural and geochemical targets that have never been drill-tested with modern methods, including the down-dip continuation of the historical high-grade intercept at RRC15 and the untested Flamingo structural corridor. These targets represent technically robust, early-stage opportunities where EIS support is well aligned with the program’s objective of encouraging drilling in underexplored geological settings. Securing co-funding would enable Catalina to accelerate first-pass andconfirmatory drilling activities while applying capital more efficiently across the broader portfolio. Next Steps ➢ Complete soil infill and extension sampling across the Flamingo Target and other identified locations along strike to refine drill collar locations and finalise target footprints. ➢ Undertake early-stage reconnaissance across the pending tenements as soon as they are granted, with results used to refine RC drill planning. ➢ Prepare and submit a formal EIS co-funding application during the 2026 funding cycle to support the initial drilling program at Beasley Creek. ➢ Finalise heritage engagement, access planning and operational logistics required in advance of exploration activity. ➢ Commence drilling activities—including the RRC15confirmation hole and first-pass drilling along the Flamingo structural corridor. Page 8 Catalina will provide further updates as each stage of the work program is advanced and finalised. This announcement has been approved for release by the Executive Directors of the Company. Contacts Investors/ Shareholders Ross Cotton Executive Director T: +61 (0)8 6165 8858 References (ASX) This Report contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“2012 JORC Code”). Further details (including 2012 JORC Code reporting tables where applicable) of exploration results referred to in this announcement can be found in the following announcements lodged on the ASX: 1 CDT ASX Announcement 21 February 2018: Beasley Creek Prospectivity Enhanced The Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original reports. Competent Person Statement The information in this announcement that relates to exploration activities within the Beasley River Project is based on information compiled by Dr Nishka Piechocka, PhD, Vice President of the Australian Institute of Geoscientists (AIG) and a full-time employee of Apex Geoscience. Dr Piechocka 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 (JORC Code). Dr Piechocka consents to the inclusion in the report of the matters based on her information in the form and context in which it appears. Where the Company refers to the Mineral Resources in this report (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed. Forward-Looking Statements This announcement contains forward-looking statements that are subject to a range of risks and uncertainties. These statements relate to the Company’s expectations, intentions, or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same. These forward-looking statements reflect the Company’s views and assumptions with Page 9 respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the acquisition and divestment of projects (including risks associated with completing due diligence and, if favourable results are obtained, proceeding with the acquisition of the Beasley Creek Project), joint venture and other contractual risks, metal prices, exploration, development and operating risks, competition, production risks, sovereign risks, regulatory risks including environmental regulation and liability and potential title disputes, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company, or any of its affiliates or persons acting on its behalf. Subject to any continuing obligations under applicable law the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. ABOUT CATALINA RESOURCES LIMITED Catalina Resources Limited is an Australian diversified mineral exploration and mine development company whose vision is to create shareholder value through the successful exploration of prospective gold, base metal, lithium and iron ore projects and the development of these projects into production. Page 10 Beasley River Project APPENDIX 1: JORC CODE, 2012 EDITION - TABLE 1 JORC Code, 2012 Edition – Table 1 report template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) 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 mineralization 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 mineralization types (eg submarine nodules) may warrant disclosure of detailed information. • Exploration activities on the Beasley project have been completed by CRA, Vageta Pty Ltd, and Castle Minerals between 1993 and 2022. CRA completed initial stream sediment sampling in 1993 (primarily targeting Nickel), Vageta Pty Ltd completed RC drilling in 1998/1999 targeting gold, and between 2017 and 2022 Castle Minerals Ltd completed several stream sediment and soil sampling programs targeting gold. • CRA stream sediment samples were collected from active stream channels. Samples were sieved in field and 150-250 grams of minus 80 mesh material was retained for analysis. • Vegata Pty Ltd conducted Reverse Circulation (RC) drilling. Sampling was carried out using protocols established by Vageta Pty Ltd at the time. RC samples were described as being collected as single metre intervals. No other details are available. The gold mineralisation expected in the conglomerate unit is coarse grained with a high nugget component causing sampling to be problematic. No description of the methods used to undertake the sampling have been described. It is assumed standard industry techniques were applied. Four metre composite samples were routinely collected down the hole and submitted for assay. • Castle Minerals Ltd collected stream sediment samples from streams draining areas downstream from prospective conglomerate beds. Stream sediment samples were collected from the base of the stream bed by digging. Sample material was Page 11 Criteria JORC Code explanation Commentary sieved to - 2mm to remove coarser material. Approximately 15kg of sieved material was collected at each trap site for processing. The stream sediment sample technique collects material from a large area drained by the creek. The technique is used widely in the exploration industry as a first pass tool to access areas for anomalous metal concentrations that can be tracked up stream to their source. The stream sediment sample collection method is industry standard. The samples were processed using a portable wet sluice to produce a concentrate. This concentrate was panned off to reveal recovered gold. The company employed field personnel with experience operating similar equipment in order to ensure accurate results were obtained. A subsample of the bulk stream sediment sample was collected for laboratory analysis. Castle Minerals Ltd soil samples are homogenised by the collection process. Soil sampling results are a first pass exploration technique that can assist in vectoring toward mineralisation. Soil sampling is regarded as a standard first pass exploration techniques. For soil sampling, at the selected sample site, a small hole is dug to a depth of approximately 20 cm. The soil material at the base of the hole was sieved, and approximately 2kg of –2mm soil material was collected into a numbered calico bag. Drilling techniques • Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diametre, 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 drill technique was used by Vegata Pty Ltd 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. • The gold mineralisation in the conglomerate rocks is believed to be coarse grained with a high nugget effect. The size of the sample and method of processing the samples is critical in establishing accurate grades for the intersections. The small sample size collected by RC drilling is not sufficient to accurately estimate the grade of the mineralisation. 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. • All drill holes were geologically logged. The descriptions appear to be complete and provide a geological framework to constrain the mineralisation. • Geological logging recorded a description of Page 12 Criteria JORC Code explanation Commentary • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. the major lithologies recovered from the drill chips. Quantitative estimates of the percentage of quartz veining were made. • All drill holes 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. • CRA stream sediment sample preparation included riffling out enough material required for assay and store remainder. Dry and fine pulverise to minus 200 mesh in Cr free bowl with quartz wash between samples. • Vegata composite 4m samples were prepared from the 1m samples collected during the drilling. No details were provided on how the composite samples were collected. For sampling gold mineralisation with an expected high component of coarse gold the sample size is not considered representative. The sample size is not considered sufficient to adequately represent the mineralisation. Castle subsample from the bulk stream sediment sample was collected by PVC tube sampling through the sieved and homogenized bulk sample. The entire bulk sample (stream sediment) was processed through the field concentrator and panned off. The concentration and panning was undertaken by field personnel familiar with the equipment or similar equipment. Between each sample the concentrator and pan dish was thoroughly cleaned The entire subsample was bottle roll leached in a solution of cyanide to dissolve any gold in the sample. The liquor was analysed for gold by atomic absorption technique (AAS). No specific quality control measures were adopted for the subsampling of the bulk stream sediment samples. The process was undertaken by experienced personnel in the field. No field duplicates were collected during stream sediment sampling. Due to the coarse nature of the gold, sample size is important to obtain a representative sample of the material to be tested. No work has been undertaken on the appropriate sample size however 15kg samples are being collected by other companies undertaking similar exploration in the area. Page 13 Criteria JORC Code explanation Commentary Castle soil samples were sieved to collect the -2 mm fraction. All samples were dry. The entire sample was pulverized to a nominal - 80 micron at the laboratory. Once the sample was pulverized a 25 gm subsample was taken by a scoop for digestion. There was no subsampling. Field repeat soil samples were collected every 50th sample. The sample size is considered appropriate for the material being sampled. 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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. • CRA samples were submitted to Analabs in a single batch. Gold was analysed by fire assay using a 50 g charge with a detection limit of 0.001 pmb. Platinum and palladium were determined by ICP-MS following lead collection, with detection limits of 0.5 ppb. Other elements were analysed using partial acid digestion (HClO₄, HCl, HNO₃) and Atomic Absorption Spectroscopy (AAS) for major and trace metals, including: Mg (HF, HClO₄, HNO₃, HCl digestion; AAS; detection limit 100 ppm), Fe (HClO₄, HCl, HNO₃ digestion; AAS; detection limit 5 ppm), Ag (1 ppm), Co (3 ppm), Cr (7 ppm), Cu (2 ppm), Mn (3 ppm), Ni (5 ppm), Pb (3 ppm), Zn (2 ppm). Eight samples were duplicated in field and secreted into the analytical batch. • Vegata RC samples were submitted to ALS Laboratories Pty Ltd. Gold was analysed by the PM205 technique with a lower detection limit of 0.001 ppm. Cu, Pb, Zn, Ag, As, Fe, Bi, Cd, Co, Mg, Mn, Mo, Ni, P, Sb, Cr were analysed by the IC 205 technique. Only internal laboratory QA/QC was undertaken for RC drilling and stream sediment sampling programs. • The Castle stream sampling program utilised a two stage process. The presence or absence of visual gold was determine using the field concentrator and panning technique. Cyanide leachable gold was determined using the bottle roll technique. Both techniques are considered suitable for the style of mineralisation being explored. Both techniques are considered partial. No geophysical surveys undertaken. No external duplicates or blanks were submitted. Standard internal laboratory checks were in place. Castle 25g sub sample of the soils were digested in an aqua regia solution and analysed for a multielement suite by ICP OES Page 14 Criteria JORC Code explanation Commentary or MS. The aqua regia technique is not a complete digestion but for soil material is considered adequate. A 30g subsample of form the pulverized rock chip sample was fire assayed and analysed for Au, Pt, Pd. Another subsample was digested in a 4 acid solution and analysed for a multielement and REE . The 4 acid digestion is considered a total digestion. Field repeat sample was collected every 50th sample and given a separate sample number. These samples were collected in an identical manner to the original sample. 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. • There is no documentation of the verification of anomalous Au intercepts by CRA. • There is no documentation of the verification of anomalous intercepts by Vegeta Pty Ltd however during the 2018 Castle field campaign, the remnants of sample bags from several holes were located close to drill collars. The bags were in a highly degraded condition and depth intervals obscured. Metal detecting of the sample bags failed to identify any gold nuggets or flakes. • Castle stream sediment sampling was considered early stage exploration and the type of work completed to date, no independent verification or assaying has been undertaken. As part of the Castle soil program anomalous geochemical thresholds were determined by a senior geologist. Pre-numbered sample bags were used. Field operators were provided with an electronic file of the planned sample locations to load into a GPS. The actual sample location was recorded as a waypoint with the sample number of the sample collected. The operator provided a digital copy of the downloaded GPS file. No adjustments to assay data were undertaken. 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. • CRA stream sediment sample locations were determined with GPS instruments and marked on air photographs for back up in cases where poor satellite configuration caused wildly erroneous readings. • Vegata initially recorded coordinates for the drill holes in local grid coordinates. During the Castle field mapping campaign, the Page 15 Criteria JORC Code explanation Commentary coordinates of the drill holes were measured by hand held GPS with an accuracy of approximately 3m. The hole identifications were made by comparing drill plans in the report with the GPS drill pickup. Local grid and GDA 94 Zone 50 datum. The topography in the area of drilling has moderate relief, the accuracy of the elevation data from a GPS may only be accurate to +/-10m, and is not considered to be an absolute elevation reading. • Castle stream sediment sample locations were recorded from a hand-held GPS. Accuracy is approximately +/- 2m, and locations compared with recent colour aerial photography. GDA94 zone 50 projection. The combination of aerial photography and GPS readings are considered sufficiently accurate for the stage of exploration. During the Castle soils programs the operator used a GPS unit to navigate to each predetermined soil sample site. The actual sample site was recorded as a way point. GDA 94, zone 50. GPS measurements of soil sample positions are sufficiently accurate for first pass geochemical sampling. Data spacing and distribution • 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. • CRA collected 198 stream sediment samples at a density of about 2-3 samples per square kilometre.