Final Results

29 June 2026

Ormonde Mining plc

("Ormonde" or the "Company")

Final Audited Results for the Year Ended 31 December 2025

Ormonde Mining plc (AQSE: ORM), the natural resources company with investment exposure to outstanding gold and battery metal exploration assets in Newfoundland, Spain and Scotland, announces final audited results for the year ended 31 December 2025.

Operational highlights:

· Continued positive developments at 36.3%-owned TRU Precious Metals ("TRU"):

o  Completed first systematic diamond drilling programme at the Golden Rose project fully funded by Eldorado Gold Corporation (TSX: ELD, NYSE: EGO), intersecting gold-bearing mineralisation in every hole across a 1,988 metre ("m"), four-hole programme

o  Discovery of a mineralised sandstone unit situated within an extensive and previously unrecognised mineralised trend extending for at least 3,000 m along strike and some 600 m wide

o  Supported by outcrop and float mapping and sampling, which returned assay results including 91.3g/t gold ("Au"), 36.1 g/t Au and 3.3g/t Au in outcrop

o  Four assayed samples contained visible gold

o  Confirmed vertical continuity of the Northcott Zone over 240 m at depth

o  Exercised option to consolidate a 51% interest in the Staghorn Property, comprising approximately 11% of the total Golden Rose project area

o  Post-period end, 2026 field programme prepared including trenching and subsequent drilling. The programme commenced this month, with results expected later this year

· Significant progress on 100%-owned Zamora Licences in Spain:

o  Secured three-year renewal of Antofagasta and Cueva Negra exploration licences in the Zamora province of western Spain

o  Increased ownership from 48.7% to 100% through acquisition of the outstanding interest

o  Independent geological reports confirmed the potential of the Zamora licences to host significant gold mineralisation, against the backdrop of record gold prices

o  Post period end, commenced planning to restart work programmes

· Continued progress at 18.9%-owned Peak Nickel Limited ("PNL"):

o  Results from the 2024 drilling programme confirmed continuity of mineralisation in the high-grade South Zone, with increasing grade and thickness

o  In August 2025, PNL entered into an option agreement with Winshear Gold Corp. (TSXV: WINS), pursuant to which Winshear can earn a 100% interest in the project over five years

o  Post-period end, PNL completed a diamond drill programme, fully funded by Winshear, focused on the North and South Zones at the Rodburn Target

Financial highlights: 

· Group loss of €1.36 million (FY 2024: loss of €1.45 million)

· Group net assets as at 31 December 2025 of €7.73 million (31 December 2024: €9.03 million), including cash and cash equivalents of €1.09 million (31 December 2024: €1.29 million)

· The Group received the final €500,000 deferred consideration payment from the 2022 sale of La Zarza assets in Spain with €250,00 received in October 2025 and the final €250,000 received in January 2026 thus completing the €2.3 million sale proceeds in full

Brian Timmons, Chair of Ormonde, commented:

"Taken together, Ormonde's portfolio is very well placed. Against a backdrop of record gold prices, we have a financed 2026 field programme including trenching and drilling now underway at Golden Rose, further backed by the considerable technical and financial strength of Eldorado Gold.

In parallel, the renewed Zamora gold licences in Spain continue to offer attractive exploration potential, with independent geological work reinforcing our confidence as we prepare to restart work programmes.

The Board continues to see a long-term opportunity in Peak Nickel, underpinned by high-grade mineralisation, shallow depth, a tier-one jurisdiction and established infrastructure.

The Board's overriding focus remains the creation of long-term shareholder value, and we are as confident as we have ever been in the potential of our assets to deliver this."

Financial Statements and Notes to the Accounts

The full report and accounts will be available later today on the Company's website at: www.ormondemining.com.

Enquiries:

Ormonde Mining plc

Brian Timmons, Chairman / Brendan McMorrow, CEO

Tel: +via Vigo Consulting

Vigo Consulting (Investor Relations)

Ben Simons / Fiona Hetherington

Tel: 44 (0)20 7390 0230

AlbR Capital Limited (Aquis Corporate Adviser)

Tel: +44 (0)20 7469 0930

About Ormonde Mining

Ormonde is a natural resources company delivering exposure to outstanding gold and battery metal exploration projects. Ormonde's portfolio comprises:

· A 36.3% equity interest in TRU Precious Metals (TSXV: TRU), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada, funded by Eldorado Gold Corporation (NYSE: EGO, TSE: ELD - US$5 billion market cap) which has optioned the project

· A 100% interest in two gold exploration licences in the Zamora province in western Spain, for which the Company is advancing value enhancing options

· An 18.9% equity interest in Peak Nickel Limited, which is exploring for battery metals at the Rodburn Project in Aberdeenshire with indications of a significant deposit, fully funded by Winshear Gold Corp. (TSXV: WINS) which has optioned the project

Ormonde's shares are quoted on the Aquis Stock Exchange Growth Market under the symbol AQSE: ORM.

For more information, visit the Company's website at www.ormondemining.com.  

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Chairman's Review

Introduction

I am pleased to report on another year of solid progress for Ormonde and its investee companies. Most significantly, TRU Precious Metals Corp. ("TRU"), our 36.3%-owned investee company, completed its first systematic diamond drilling programme at the Golden Rose project ("Golden Rose") fully funded by Eldorado Gold Corporation in Newfoundland with results that exceeded expectations. The Zamora licences in Spain were renewed and consolidated to 100% ownership at the start of the year, and exploration at Peak Nickel Limited ("PNL") is now fully funded by Winshear, which commenced a diamond drill programme at Portsoy post-period end.

TRU Precious Metals (Ormonde: 36.3%)

Golden Rose Project, Newfoundland (Gold, Copper)

TRU is advancing Golden Rose, its flagship gold and copper exploration asset situated in the highly prospective Central Newfoundland Gold Belt. The project comprises a substantial 297.5[1] km² land package straddling 45 km of strike length along the Cape Ray-Valentine Lake Shear Zone, a geological corridor with a proven record of hosting significant gold deposits.

Golden Rose occupies a strategically enviable position, sitting directly between two major neighbouring projects. The Equinox Gold Valentine Project is located to the northeast, hosts five million ounces of gold resources in measured, indicated and inferred category, and reached commercial production in November 2025. Once operating at capacity, the Valentine Gold Mine will be the largest gold mine in Atlantic Canada. AuMEGA Metals' Cape Ray Project is located to the southwest, and contains 0.6 million ounces of indicated and inferred gold resources, further reaffirming the district's standing as one of Canada's most compelling gold exploration addresses.

In July 2024, Eldorado Gold Corporation ("Eldorado") (TSX: ELD, NYSE: EGO), signed an earn-in agreement with TRU, granting Eldorado an exclusive option to earn an 80% interest in Golden Rose, through a multi-year C$7 million work programme and C$8.25 million in cash payments to TRU.

With a market capitalisation that now exceeds US$7 billion, Eldorado continues to actively engage and support the team at TRU and has been financing at above minimum necessary rates. Exploration at Golden Rose continues to yield encouraging results, with activity seeking to enhance the entire prospect - focusing beyond the known mineralisation to uncover the project's overall Au and Cu potential.

Against this backdrop, TRU is focused on unlocking the full discovery potential of Golden Rose, which remains an early-stage prospect with significant exploration upside across its sizeable land package.

The year under review saw TRU complete its first systematic diamond drilling programme at Golden Rose fully funded by Eldorado, a milestone that represents the culmination of extensive geological analysis and target generation work. The 1,988 metre, four-hole programme, which commenced in May 2025 and was completed during the summer field season, was focused on the Mark's Pond to Rich House exploration fairway, an area of the property selected for its interpreted prospectivity.

In September 2025, highly encouraging results were announced confirming that gold-bearing mineralisation was intersected in every hole. Of particular significance was the discovery of a previously unknown broad mineralised sandstone unit over an interpreted minimum strike length of 500 m in two of the holes. Assay results from this unit included 1.0 grams per tonne ("g/t") gold ("Au") over 13.3 m, including 1.3 g/t over 5.3 m, within a much wider interval of 0.3 g/t over 65.3 m, and 1.0 g/t over 5.1 m within a wider interval of 0.5 g/t over 18.2 m. A second previously unknown mineralised zone, which may represent an along-strike extension of the same unit approximately 1.6 km to the southwest, yielded an intercept of 1.0 g/t gold over 4.0 m. The drilling also confirmed the vertical continuity of the Northcott zone over 240 m at depth. These results signified a strengthening in the understanding of Golden Rose's gold potential.

With the completion of the 2025 drilling programme, TRU exercised its option to acquire a 51% interest in the Staghorn Property having satisfied all field work and payments required under the option agreement with Quadro Resources Ltd. The Staghorn licences comprise approximately 11% of the total Golden Rose project area, with the consolidation of the land package strengthening TRU's overall position.

The 2026 work programme, which includes trenching and subsequent drilling, has been prepared and commenced in June 2026, with results expected later this year.

Zamora Licences, Spain (Ormonde: 100%)

Antofagasta and Cueva Negra Projects, Spain (Gold)

In February 2025, Ormonde announced the significant milestone of the three-year renewal of its two gold exploration licences in the Zamora province of western Spain, namely Antofagasta and Cueva Negra (the "Zamora licences"). Concurrently, the Company increased its ownership of the Zamora licences to 100%, having acquired the outstanding 51.3% interest (consideration of €50,000 satisfied by the issuance of 5,000,000 new ordinary shares in the Company). Full ownership, combined with licence renewals, provides Ormonde with the platform it needs to plan a systematic work programme on these assets for the first time in many years.

Independent geological reports confirm the potential of the Zamora licences to host significant gold mineralisation, at a time when gold prices are reaching and sustaining record levels. Gold has more than doubled in price over the past decade, reaffirming the Company's plans to undertake exploration at Antofagasta and Cueva Negra.

Ormonde and the Board have significant experience in both exploration and mining in Spain, and the Company is seeking to leverage this experience to further strengthen its portfolio of gold investments in Spain.

Separately, the Company received the final €500,000 deferred consideration payment from the 2022 sale of its La Zarza assets in Spain with €250,000 received in October 2025 and the remaining €250,000 received in January 2026, thus completing the €2.3 million sale proceeds in full. The receipt of this final instalment brings the La Zarza transaction to a close and provides a small but welcome addition to the Group's cash resources.

Peak Nickel Limited (Ormonde: 18.9%)

Portsoy Project, Scotland (Nickel)

PNL is a private UK company advancing the Rodburn Project in Aberdeenshire, an early-stage nickel exploration asset.

During the period, PNL released results from a selection of holes drilled as part of its 2024 drilling programme, which confirmed the continuity of mineralisation in the high-grade South Zone, as well as increasing its grade and thickness. These results build on the updated Mineral Resource Estimate published in 2024, which established an Inferred Mineral Resource of 4.3 million tonnes at 0.72% nickel equivalent, remaining open in all directions.

In August 2025, Peak Nickel announced it had entered into an option agreement with Winshear Gold Corp (TSXV: WINS) ("Winshear"), pursuant to which Winshear can earn a 100% interest in the Portsoy Project subject to the satisfaction of certain conditions including exploration commitments over five years. In return, Peak Nickel is to receive shares in Winshear over five years, and, upon completion of the earn-in, Peak Nickel would retain a 1% Net Smelter Returns Royalty capped at £10 million. Post-period end, Winshear announced it had completed a diamond drill programme at Portsoy, focused on the North and South Zones.

Whilst the nickel market remained challenging in 2025 with ongoing oversupply from certain jurisdictions continuing to weigh on the market, we are starting to see the green shoots of recovery, with continued demand for the supply of responsibly sourced battery-grade nickel to support the global energy transition. Peak Nickel's project in a tier-one jurisdiction with established infrastructure and low environmental impact relative to laterite alternatives is well-positioned to benefit as the market rebalances. With exploration at Peak Nickel fully funded by Winshear, Ormonde stands to gain from both the progress at the project as well as the upside in the nickel price, which we believe will continue to correct as demand increases and the requirement for sustainable mining practices becomes more pressing.

Financial Review

The Group reports a total comprehensive loss for the year ended 31 December 2025 of €1.36 million (2024: loss of €1.45 million). The Group's net assets as at 31 December 2025 stood at €7.73 million (31 December 2024: €9.03 million), including cash and cash equivalents of €1.09 million (31 December 2024: €1.29 million).

Further details on the Group's financial position and results is set out in the Financial Statements and accompanying notes.

Outlook

Against a backdrop of record and sustained high gold prices, Ormonde's portfolio is firmly aligned with very compelling investment themes in natural resources today. The combination of Eldorado Gold's US$7 billion-plus market capitalisation lending its technical and financial weight to Golden Rose, record breaking gold prices supporting the case for exploration of the Zamora licences, and the longer-term structural demand for battery metals driving the rationale for Portsoy, gives the Board increasing confidence that Ormonde's strategy of delivering shareholders exposure to quality assets without significant capital expenditure at the Company level can deliver meaningful value in the years ahead.

Progress at Golden Rose continues unabated, with both trenching and a new drilling campaign included in the 2026 field season programme now underway.

The Board is also focused on developing a credible and value-creating exploration programme for the Zamora licences and exploring opportunities to further expand the portfolio in Spain.

Whilst the nickel price environment requires patience, the Board remains firmly of the view that Peak Nickel's combination of high grade, shallow depth, tier-one jurisdiction, and existing infrastructure creates a long-term opportunity.

Taken together, Ormonde's portfolio is very well placed. We have a fully financed 2026 field programme including trenching and drilling at what we believe could be the next significant gold discovery in Newfoundland. We have 100%-owned gold exploration licences in Spain when gold prices are very strong, and we have an emerging battery metals resource in one of Europe's most prospective nickel districts where exploration is ongoing at no cost to our investee company. The Board's overriding focus remains the creation of shareholder value, and we are as confident as we have ever been that our assets have the potential to deliver that.

Brian Timmons

Chairman

29 June 2026

Consolidated Statement of Comprehensive Income

for the year ended 31 December 2025

All activities are derived from continuing activities. The losses and total comprehensive losses for the year (and preceding year) are allocated between the equity holders of the Company and non-controlled interests. The Group has not recognised gains or losses other than those dealt within the Statement of Comprehensive Income.

Consolidated Statement of Financial Position

as at 31 December 2025

Company Statement of Financial Position

as at 31 December 2025

Consolidated Statement of Cashflows

for the year ended 31 December 2025