Minyari’s High-Grade Intersections Signal Development Challenges Ahead

Exceptional Assay Results Highlight Minyari's Potential

Antipa Minerals Ltd (ASX, AZY) has released a compelling update on its 100%-owned Minyari Gold-Copper Project in Western Australia's Paterson Province. The latest drilling campaign has yielded outstanding assay results, including a standout intersection of 12 metres grading 16.7 grams per tonne (g/t) gold and 0.13% copper from just 143 metres below surface. This includes an extraordinary 1 metre interval at 176.5 g/t gold and 1.0% copper, underscoring the high-grade nature of the deposit.

These results not only reinforce the continuity of substantial gold-copper mineralisation at the flagship Minyari deposit but also at the nearby WACA deposit, where significant intersections such as 69 metres at 0.8 g/t gold and 0.11% copper were recorded. Such findings provide a robust foundation for the upcoming Mineral Resource update and the advancing Pre-feasibility Study (PFS).

Expanding Footprint with New Discoveries

Beyond the established deposits, broad-spaced air core drilling north of Minyari has confirmed promising gold-copper anomalies extending over six kilometres at the Reaper-Poblano-Serrano (RPS) and AL01 targets. Notable intersections include 82 metres at 0.2 g/t gold from 8 metres at RPS and 8 metres at 0.4 g/t gold from 28 metres at AL01. These anomalies remain open along strike and at depth, indicating significant discovery potential within Antipa’s extensive 4,100 square kilometre tenure.

Phase 1 drilling, comprising 307 holes for nearly 36,000 metres, is substantially complete with assay results received for the majority of holes. Phase 2 drilling, focused on discovery and follow-up at RPS and AL01, is underway with plans for 25,000 to 35,000 metres of drilling, aiming to further expand the resource base and test new targets.

Advancing Towards Development

The PFS drilling program is well advanced, with over 17,500 metres completed out of a planned 20,000 metres. Results to date have been encouraging, with multiple high-grade intersections supporting the project's development potential. Complementary technical workstreams, including metallurgical testwork, geotechnical and hydrogeological studies, and sterilisation drilling for infrastructure siting, are progressing on schedule.

Antipa’s Managing Director, Roger Mason, emphasized the strategic importance of these results, stating that the program is delivering on its objectives to both advance development and add new discoveries. The company anticipates completing an updated Mineral Resource Estimate in October 2025, which will incorporate these latest drilling results and inform the next stages of project evaluation.

Strategic Position in a World-Class Province

Situated in the Paterson Province, a globally recognised mineral district hosting major operations such as Greatland Resources’ Telfer Mine and Rio Tinto-Sumitomo’s Winu deposit, the Minyari Project benefits from excellent regional infrastructure and exploration pedigree. Antipa’s portfolio includes multiple deposits and prospects, with a current total Mineral Resource of approximately 2.5 million ounces of gold and significant copper, silver, and cobalt credits.

The ongoing exploration success and methodical advancement of the PFS underscore Antipa’s commitment to unlocking the full value of this richly endowed region. With Phase 2 drilling underway and further assay results pending, the company is well-positioned to continue building scale and refining its development pathway.