Mila Resources Regulatory News (MILA)

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

2 September 2025

Mila Resources Plc

("Mila" or the Company")

Preparations Advance for Phase 2 Drilling at Yarrol Gold Project

Key Highlights

· Completion of ground magnetic geophysical survey and interpretation leading to new targets for gold mineralisation beyond areas tested in Phase 1 and the forthcoming Phase 2 programme; will form part of our future step-out drilling.

· Review of drilling and exploration data completed by RSC Mining and Mineral Exploration (RSC) has further strengthened and optimised exploration planning, and procedures to use as Mila build towards a maiden Mineral Resource Estimate ("MRE") at Yarrol.

· Phase 2 drilling land access agreements in place; drilling scheduled to commence shortly

· Phase 2 fully funded from capital raise in May 2025

Mila Resources Plc (LSE:MILA), the post-discovery gold exploration accelerator, is pleased to provide an update for the upcoming Phase 2 drilling campaign at the Company's flagship Yarrol Gold Project, Queensland.

Following the recent capital raise in May 2025, the Company has been busy preparing for the next phase of work at Yarrol comprising the following:

i) ground magnetic geophysical campaign - this has extended detailed coverage beyond the areas surveyed during Phase 1 and those targeted in the upcoming Phase 2 programme. These data are intended to inform Mila's understanding of the mineralised system and lay the groundwork for future step-out drilling. Historical scout holes within the southern extension area have already intersected gold mineralisation, extending the system ~2km further to the south; however, systematic exploration is required to "fill in the gaps" to package all the targets for the next stage of project development, and unlock the broader strike potential;

Fig.1. Map of Yarrol Project showing the extensions of the ground magnetic survey to the south, and gold intercepts from drilling completed in Stage 1 campaign in 2025.

ii) Review of historical dataset - The Company appointed RSC Mining and Mineral Exploration ("RSC"), a leading mining and mineral exploration consultancy, to complete a comprehensive review of historical datasets, interpreted geophysical data, and the results from Mila's successful Phase 1 programme. RSC's work has provided a robust geological framework to guide Mila's systematic, staged exploration strategy, ensuring that Phase 2 drilling maximises resource definition potential and informs subsequent campaigns;

iii) Secured land agreements with stakeholders;

iv) The Company is now finalising drill pad construction and drilling contracts to mobilise rigs to site; and

v) The Company plans to update the market on results of the recently completed ground geophysics testing the southern extension of Yarrol, the commencement of first-phase exploration activities at the Monal and Mt Steadman properties and progress made in unlocking value across the broader Queensland portfolio.

Mark Stephenson, Executive Chairman, commented:

"We have been particularly active in recent months following our successful capital raise in May that will fund the continued drilling and de-risking of Yarrol into 2026. The team at Mila is highly encouraged by the results of the recent geophysical campaign, which has not only generated new targets but also highlighted the potential to expand scale well beyond the areas drilled to date. We are now building a much more detailed picture of the geological model which will help guide and focus the next drilling programme.

"In parallel, we have been working closely with RSC to ensure our exploration strategy is both optimised and aligned with building a strong framework for a maiden Mineral Resource Estimate, which we believe will confirm Yarrol's position as an exciting new gold development opportunity to the market.

"The next phase is a pivotal step forward as we build on the outstanding success of our initial programme. We are grateful for the continued support of our shareholders and are confident that the capital deployed will build value as we advance and establish Yarrol as a robust gold project."

**ENDS**

For more information visit www.milaresources.com or contact: