Announcement PDF 29 September 2026 Expanded Mineral Resource Estimate to Underpin Sorby Hills Project Delivery Plan Boab Metals Limited (ASX: BML) (“Boab” or the “Company”) is pleased to announce an updated Mineral Resource Estimate for the Company’s 100%-owned Sorby Hills Silver-Lead Project (“Sorby Hills” or the “Project”) located in the Kimberley region of Western Australia. HIGHLIGHTS • Sorby Hills Mineral Resource Estimate (MRE) of 50.6Mt1 at 3.0% Pb, 34 g/t Ag and 0.4% Zn representing a 7% increase in resource tonnage compared with the previous MRE2 . • The update is focused on the Bimota (formerly B), Omega and Norton deposits, which underpin the baseload feed for the Sorby Hills mine plan. • Infill drilling undertaken since the previous MRE has increased Measured and Indicated Resources across these deposits by 10%, providing greater confidence in the planned production schedule. • A Net Smelter Return (NSR) approach to domaining has enabled the inclusion of additional mineralisation, contributing to a 1.6Moz increase in contained silver. • The Aprilia (formerly A), Alpha (Pb), Alpha (Zn) and Beta deposits have not been re- estimated, with their previously reported Mineral Resources remaining unchanged. • Recent assay results from the 47-hole Phase IX drilling program, including 12.6m at 121g/t Ag and 7.65% Pb from 23m at Omega, have yet to be incorporated into the Sorby Hills MRE and represent future upside. • The updated MRE represents a further step in de-risking the Sorby Hills Project ahead of mining, strengthening confidence in the resource base underpinning the initial years of planned production schedule. Boab Managing Director and CEO, Simon Noon, commented: “The updated Mineral Resource Estimate represents another important milestone for Sorby Hills, delivering growth in resource tonnage and contained silver while further strengthening confidence in the Mineral Resources underpinning our mine plan. Importantly, the increase in Measured and Indicated Resources across key deposits provides greater confidence in the early years of planned production as we advance Sorby Hills towards development. These results demonstrate the value of our targeted drilling programs and refined resource modelling, reinforcing the quality and scale of the Sorby Hills Resource.” 1 Pb, NSR Domains only 2 ASX Release 17 December 2021 Updated Mineral Resource Estimate Table 1: Sorby Hills Mineral Resource Estimate (Pb & NSR Domains, 1% Pb Cut-Off) Deposit Classification Tonnes (Mt) Pb % Ag g/t Zn % Pb kt Ag koz Zn kt Bimota (Formerly B) Measured 1.4 3.8 19 0.3 53 867 4 Indicated 1.6 3.1 19 0.3 49 974 5 Inferred 0.2 2.3 12 0.3 5 79 1 Bimota Sub-total 3.2 3.4 19 0.3 106 1,920 10 Omega Measured 8.6 3.3 37 0.4 284 10,092 34 Indicated 6.7 3.3 31 0.4 221 6,764 27 Inferred 3.1 2.6 26 0.4 80 2,556 12 Omega Sub-total 18.4 3.2 33 0.4 585 19,412 73 Norton Measured 3.1 3.7 67 0.3 114 6,603 9 Indicated 2.7 2.8 32 0.5 75 2,740 13 Inferred 17.1 2.3 27 0.5 393 14,725 85 Norton Sub-total 22.8 2.5 33 0.5 582 24,069 108 Aprilia (Formerly A) Measured - - - - - - - Indicated - - - - - - - Inferred 0.6 5.3 23 1.0 31 427 6 Aprilia Sub-total 0.6 5.3 23 1.0 31 427 6 Alpha Measured 0.0 0.0 0 0.0 Indicated 0.7 2.6 41 0.5 18 923 4 Inferred 0.7 3.6 86 1.2 27 2,052 9 Alpha Sub-total 1.4 3.1 64 0.9 45 2,975 13 Beta Measured - - - - - - - Indicated 1.0 4.1 42 0.2 42 1,382 2 Inferred 3.2 3.4 43 0.4 109 4,474 14 Beta Sub-total 4.2 3.6 43 0.4 151 5,856 17 Total Measured 13.1 3.4 42 0.4 450 17,562 48 Indicated 12.7 3.2 31 0.4 405 12,783 51 Inferred 24.9 2.6 30 0.5 645 24,315 128 TOTAL Total 50.6 3.0 34 0.4 1,500 54,660 226 Table 2: Sorby Hills Mineral Resource Estimate (Zn Domains only, 1% Zn Cut-Off) Deposit Classification Tonnes (Mt) Pb % Ag g/t Zn % Pb kt Ag koz Zn kt Alpha Measured - - - - - - - Indicated 2.1 0.3 22 2.8 6 1,485 59 Inferred 2.1 0.4 21 2.3 8 1,418 48 Alpha Total 4.2 0.5 22 2.5 15 2,971 107 Note: Only Bimota, Omega and Norton pits have been updated as part of the MRE. Furthermore, deposits have had the 1% reduction factor applied to reported tonnage removed for this estimate. All other deposits remain as reported in the previous MRE, including the application of the 1% tonnage reduction factor. Basis of the Update This 2026 MRE update was undertaken by ERM International Group (ERM) and builds on the 2021 MRE for the Bimota, Omega and Norton deposits. The MRE update occurred in three stages: Stage 1 An updated interpretation and resource estimate for the Norton Deposit was undertaken incorporating diamond and RC drilling (additional 305 assays) completed at Norton since the 2021 MRE. The updated Stage 1 Norton estimate compared with the 2021 MRE is show in Tables 3 & 4. Table 3: Norton Deposit Stage 1 Mineral Resource Estimate (Pb Domains only, 1 % Pb Cut-Off) Classification Tonnes (Mt) Pb % Zn % Ag g/t Measured 3.0 3.7 0.3 67 Indicated 2.6 2.9 0.5 32 Inferred 16.8 2.4 0.5 27 Total 22.4 2.6 0.5 33 Table 4: Norton Deposit Mineral Resource Estimate, October 2021. (Pb Domains only, 1 % Pb Cut-Off) Classification Tonnes (Mt) Pb % Zn % Ag g/t Measured 2.8 4.1 0.3 75 Indicated 2.1 3.2 0.5 38 Inferred 16.2 2.5 0.5 27 Total 21.1 2.8 0.4 34 Stage 2 An NSR-based approach was adopted to identify additional mineralisation domains across the Bimota, Omega and Norton deposits. Lead and silver assay results were converted to silver equivalent (AgEq) grades using the parameters outlined in Table 5. These grades, together with a 40 g/t AgEq cut-off, were used to guide the geological interpretation and delineation of additional mineralisation domains. Table 5: Parameters used to calculate AgEq to guide additional interpretation of mineralisation domains Parameter Lead Silver Recovery 91% 82% Payability 95% 95% Royalty 5% 2.5% Price US$2,000/t US$60/oz Ag refining - 1.1% Exchange rate A$1.00 = US$0.72 A$1.00 = US$0.72 The newly interpreted NSR domains predominantly comprise low-grade lead mineralisation (less than 1% Pb) associated with higher-grade silver mineralisation (greater than 10 g/t Ag). This mineralisation was not included in previous MRE iterations due to the application of a lead-focused approach to domaining. Lead-silver mineralisation at Sorby Hills typically exhibits well-defined geological boundaries, with mineralised samples containing elevated Ag and/or Pb grades contrasting with adjacent barren material. Consequently, the adoption of metal equivalents to guide domain interpretation has resulted in mineralisation models with geometries and volumes broadly consistent with the previous MRE. Additional mineralisation volumes were modelled by digitising polygons around Pb and Ag mineralisation identified along drill holes. These new domains either form extensions surrounding the existing Pb domains or occur as independent NSR domains in the hanging wall or footwall. Their geometry is controlled by the local dip and dip direction of the interpreted geological structures. The following points summarise the estimation of Mineral Resources within the new mineralisation domains: • A total of 23 new NSR domains were modelled: five at Bimota, twelve at Omega and six at Norton. • Samples within the new domains were composited to 1m intervals. Ag, Pb and Zn grades were estimated by ordinary kriging, with grade capping applied where appropriate to limit the influence of very high-grade silver assays. • The block models for the NSR domains were integrated into the existing MRE block models. The original block grades, bulk density values and resource classifications within the existing Pb domains were retained and validated following integration. • Bulk density was calculated using the same algorithms supporting the previous MREs. • The grade estimate into the NSR domains was included into the MRE based on a >1% Pb cut-off as per the Pb domains (Table 6) • The additional NSR-domain blocks were classified as Indicated or Inferred using the same classification approach applied to the earlier MREs. Blocks in the NSR domains are not classified as Measured. Table 6: Sorby Hills MRE (NSR Domain only, 1% Pb Cut-Off) Deposit Classification Tonnes (Mt) Pb % Ag g/t Zn % Pb kt Ag koz Zn kt Bimota Measured - 0 0 0 Indicated 0.3 1.4 12 0.5 4 116 2 Inferred 0.2 2.3 12 0.3 5 77 1 Bimota Sub-Total 0.5 1.8 12 0.4 9 193 2 Omega Measured 0 0 0 0 Indicated 0.8 1.6 14 0.4 13 360 3 Inferred 0.2 1.5 21 0.5 3 135 1 Omega Sub-Total 1 1.6 16 0.5 16 495 4 Norton Measured 0 0 0 0 Indicated 0.1 1.4 26 0.1 1 84 0 Inferred 0.1 1.5 29 0.1 2 93 0 Norton Sub-Total 0.2 1.5 27 0.1 3 177 0 Measured 0 0 0 0 Total Indicated 1.2 1.6 15 0.4 19 579 5 Inferred 0.5 1.8 19 0.3 9 305 2 TOTAL Total 1.7 1.6 16 0.4 27 874 7 ERM validated the updated block model by comparing composited sample grades with interpolated block grades, reviewing cross-sections of the block model against drill holes, and reviewing swath plots. ERM concluded that the validation results support the classification and reporting of the updated Mineral Resource. Figures 1 and 2 present cross sections through Omega and Norton, showing the Pb and NSR domains Stage 3 A 1% tonnage reduction factor was previously applied at the reporting stage to account for interpreted porosity. For the current MRE update, the additional information available for Bimota, Omega and Norton, together with the updated modelling and review by the Competent Person, was considered sufficient to support removal of this factor. The Competent Person considers that the uncertainty associated with porosity, and its potential impact on reported tonnages, falls within the acceptable estimation tolerance of the updated Mineral Resources. Accordingly, the 1% tonnage reduction factor has been removed for the Bimota, Omega and Norton deposits. The factor was previously applied at the reporting stage and was not incorporated directly into the block models. The Aprilia, Alpha and Beta Mineral Resources were not re-estimated as part of this update and continue to incorporate the previously applied 1% tonnage reduction factor. Figure 1: Cross section through Omega, showing relative locations of Pb domains (red) and NSR domains (green), with drill hole traces. Figure 2: Cross section through Norton, showing relative locations of Pb domains (red) and NSR domains (green), with drill hole traces. Optimal pit shell (2024) shown as black trace. Relationship to Previously Reported Mineral Resources The current 2026 update relates to the Bimota, Omega and Norton deposits only. The Mineral Resources for Aprilia, Alpha and Beta were not updated and remain as previously reported. Accordingly, the global Sorby Hills Mineral Resource combines the current 2026 Bimota, Omega and Norton estimates with the existing Aprilia, Alpha and Beta estimates. The updated and unchanged estimates have different treatment of the historical 1% tonnage reduction factor, as described above, and should be read on that basis. Table 7: Summary of the previously reported Sorby Hills MRE (2021, Pb Domains only 1% Cut-Off, 1% tonnage reduction applied across all deposits). Deposit Classification Tonnes (Mt) Pb % Ag g/t Zn % Pb kt Ag koz Zn kt Bimota Sub-total 2.7 3.6 20 0.3 97 1,720 8 Omega Sub-total 17.2 3.3 34 0.4 566 18,948 71 Norton Sub-total 21.1 2.8 34 0.4 590 24,090 96 Aprilia Subtotal 0.6 5.3 23 1.0 31 427 6 Alpha Subtotal 1.4 3.1 64 0.9 45 2,975 13 Beta Subtotal 4.2 3.6 43 0.4 151 5,856 14 GRAND TOTAL Total 47.3 3.1 35 0.4 1,465 53,042 207 Total Measured 12.6 3.5 43 0.4 444 17,521 45 Indicated 11.0 3.4 34 0.4 377 12,114 46 Inferred 23.6 2.7 31 0.5 645 23,406 117 Tonnes and Grade are rounded. Discrepancy in calculated Contained Metal is due to rounding. Additional Information Geological Interpretation The Sorby Hills mineralisation is classified as Mississippi Valley-Type (MVT), implying replacement of carbonate and mixed carbonate siliciclasitc rocks by Pb-Ag-Zn-Fe sulphides. Recent geological assessment has refined this to a sediment-replacement system, with mineralisation focused within an interval below the base of the Knox Sediments and the Sorby Dolomite (Transition Facies). The Late Devonian/Early Carboniferous host rock succession was transgressively deposited over the flanks of a Precambrian basement-high (Pincombe Inlier) that extended into the Burt Range Sub-basin which is part of the southern Bonaparte Basin. The mineralisation is largely stratabound and hosted mainly in the Transition Facies, an interval of about 20 to 25 m consisting of 1 to 2 m thick cyclic bedded, beds of massive dolomite, silty dolomite and clay matrix breccias in the immediate footwall of the Knox Sediments and the uppermost interval of the Sorby Dolomite. A massive micritic fossiliferous dolomite interval is located in the footwall. Strata generally dip shallowly, but variably to the east, southeast and northeast. The mineralisation consists of seven discrete carbonate hosted Pb-Ag-Zn deposits: Aprilia, Bimota, Omega, Norton, Beta and Alpha (Pb and Zn) deposits. The deposits form a curvi-linear north-trending belt extending over 7 km, sub-parallel to the eastern margin of the Precambrian Pincombe Inlier with sub-economic mineralisation linking all deposits. During its 7 drilling campaigns, Boab demonstrated that late stage, sub- parallel structurally controlled zones of intense hydrothermal breccia-type of mineralization are located at Omega striking in a north-northwest direction. The controlling structures form a set of en-echelon right stepping extensional faults associated with late-stage mineralisation in the matrix of breccias. The primary style of mineralisation is typically argentiferous galena with high silver in galena with moderate to low pyrite (FeS2) content and generally low amounts of sphalerite (ZnS). Galena (PbS) occurs as massive to semi-massive crystalline lenses often found in the more argillaceous (silty) units, and as coarse to fine disseminations or as open-space fill in fractures, breccias and vughs. Sphalerite typically predates galena and occurs as colloform open-space fill. The upper portions of the deposits are often oxidised and composed of a variable mix of cerussite (PbCO3) and galena. Cerussite has also been observed deeper in the deposits where faults, fractures and or cavities have acted as conduits for meteoric waters. The extent to which secondary lead minerals exist throughout the deposit has been captured during core logging and has been verified systematically by calculating a sulphur deficiency factor based on multi-element analysis for each sample that includes an analysis for sulphur, lead, zinc and iron. While this method does not difference quantitatively between lead oxide minerals, crystallographic studies show that the dominant secondary lead mineral (>90%) is cerussite. The deposits average 7 to 10 m in thickness, are generally less than 1km long and 100 to 500 m wide. Mineralisation is often thicker and/or higher grade in areas of thick breccia development and areas of increased depth to the top of the footwall Sorby Dolomite. The geological models and Mineral Resource estimates for the Bimota, Omega, Alpha and Beta deposits were updated as part of this current scope of work, which were subject to recent drilling followed by a re- interpretation of the stratigraphy, following a detailed review of historic drill hole information concerning structure, lithology, facies, and mineralisation style. Lithostratigraphic domains were modelled representing the base of the Knox Sediments (hanging wall unit) and the footwall Sorby Dolomite, and these assisted with the interpretation of the mineralisation domains. Weathering profiles for the base of complete oxidation and top of fresh rock were interpreted and modelled. Drill hole traces were loaded into Datamine software to assist with the interpretation of mineralisation domains, which were based upon a lower Pb limit of 1.0%. Some internal dilution was accommodated, generally where two or less adjacent samples of grade Pb<1.0% were encountered in a zone of mineralisation with Pb>1.0%. Mineralisation domains were interpreted for the Zn mineralisation in the Alpha deposit based upon a lower Zn limit of 1% Zn. The Omega deposit represents a corridor of mineralisation with strike extent of 1,800 m and a maximum plan width of 350 m. Sectional interpretations of the mineralisation were combined into wireframe solids. Domains were extrapolated to the typical drill spacing beyond the last fence of drill holes supporting the interpretations. The mineralisation at all deposits were mostly captured within single wireframe solids, with volumetrically minor footwall and fault hosted mineralisation domains modelled for Omega, and several hanging wall domains modelled for Norton. A single Zn domain was also modelled for the Alpha deposit. Drilling Techniques Across the project area, drilling is a mixture of reverse circulation (RC) and diamond drill (DD) core with sampling predominantly at 1m intervals. Hole spacing is generally 25m (north) by 25m (east) in the Bimota, Omega and Norton deposits, and up to 50m by 50m in the other deposits. The Mineral Resource estimate is supported by RC and DD (HQ) drilling samples, with holes drilled over a time span between the 1970s and 2023. RC drilling was sometimes used to pre-collar holes completed with DD tails. Many of the historical holes (pre-dating 2007) are known to have quality assurance issues and these holes were excluded from the Mineral Resource estimate. A total of 676 drill holes intersect the mineralisation domains, with 342 holes drilled by Boab since 2018. A total of 244 holes are historical but were retained based upon acceptable quality control results. Sampling and Sub-sampling Techniques For the 2018 to 2023 DD drilling campaigns, core was cut in half at the core shed in Kununurra using a diamond saw. Mineralised HQ DD core was sampled at different intervals to reflect lithological boundaries, but within length limits of between 0.5m and 1.5m. Half core samples were collected and placed in pre-numbered calico bags. Samples were placed into heavy duty plastic bags and sealed for transport to the laboratory. During the 2018 to 2023 drilling programs, RC sampling was conducted at 1m intervals for the entire length of the hole. All the samples from RC pre-collars and RC holes were scanned with a portable XRF (Olympus InnovX Delta) for an indication of lead concentration. Intervals were selected for assaying from XRF readings above 0.3% Pb. An additional metre sample was taken above and below this interval. Two x 2kg samples were collected from each RC metre using a rig mounted cone-splitter. The booster compressor was used on the rig to maintain consistently dry samples. After splitting of the sample, one sample was sent to the laboratory for analysis, and the other stored in the Kununurra facility. For drilling conducted prior to 2018, DD core was typically sampled at regular 1m intervals. Some core was sampled at different intervals to reflect lithological boundaries. Various core diameters were used including BQ, NQ and HQ. RC sampling was conducted typically at 1m intervals for the entire length of the hole. Core was cut in half at site using a diamond saw. Half core samples were collected and placed in pre-numbered calico bags. Samples were collected by the project geologist and geo-technician and placed into poly-weave bags for transport to the laboratory. From 2007 through 2010, RC samples were collected at 1m intervals using a trailer-mounted cone splitter attached to the drilling rig. A 2 to 3kg of split material for each metre was collected in a calico bag to be submitted for assay. Historical (pre-2007) diamond holes were sampled at 1m intervals or to geological contacts. RC samples were collected at 2m intervals. Sample Analysis Method For samples collected during the 2018 to 2023 drilling programs, samples were assayed to accepted industry standards at the Intertek-Genalysis nationally certified laboratory in Darwin or by ALS Laboratories in Perth. Multi-acid digestion of pulverised sample was followed by ICP-OES or an equivalent assay technique. For drilling campaigns completed prior to 2018 (including holes from historical programs), drill samples were assayed to accepted industry standards at nationally certified laboratories such as ALS, SGS and Genalysis. Multi-acid digestion of pulverised sample was followed by ICP-AES or an equivalent assay technique. Appropriate quality assurance and quality control measures were implemented for all stages of drilling since 2007, which support the Mineral Resource estimate. Certified Reference Materials, blanks and field duplicates were used to monitor the accuracy and precision of sampling and sample analyses, with results within acceptable tolerance limits. The use of selected historical drill holes in the Mineral Resource estimate were supported by the quality of geological logging, gamma log traces, and comparison of tenor of grade and geological logs to adjacent, and more recently drilled holes. Grade Estimation Methodology A block model with block sizes of 10m (X) x 10m (Y) x 5m (Z) was constructed. The block sizes are approximately half the most dense drill spacing, which generally supports a Measured or Indicated classification. Blocks and drill sample data were flagged according to the geological and mineralisation envelopes. Drillholes were sampled at 1m intervals and the drill samples were accordingly composited to 1m lengths for most deposits, with the exception of the Aprilia and Beta deposits, where samples were composited to 2m lengths. Composited sample data were statistically reviewed to determine appropriate top-cuts, with top-cuts applied for Pb, Zn and Ag where appropriate. Sample populations for Pb, Zn and Ag were split by mineralisation domains as supported by statistical analysis of assay data. The top cut and composited drill samples were used for variogram modelling. Moderate relative nugget effects were modelled for these in the primary zone. Major variogram directions were modelled in the plane of the vein towards the north-east. Grades for Pb, Zn, Ag, S and Fe were interpolated for all the grade variables by ordinary kriging. Blocks were estimated using a search ellipse of variable dimensions, ranging from 100m (major) x 30m (semi-major) x 5m (minor) dimensions for Beta, to 60m (major) x 30m (semi-major) x 5m (minor) for Omega North, with a minimum of 8 and maximum of 24 samples from a minimum of four drillholes. Search radii were increased, and the minimum number of samples reduced in subsequent sample searches if cells were not interpolated in the first two passes. Cell discretization of 5 x 5 x 1 (X, Y, Z) was employed. The Mineral Resource block model is an update to the Mineral Resource reported in March 2021, with updated geological interpretations for Bimota, Omega and Norton deposits. Density Estimation Methodology Density testwork was carried out on mineralised and un-mineralised DD core samples obtained between 2018 and 2023. Core segments were measured using either the water immersion (Archimedes) technique for both wax coated and non-coated material and using the calliper method. There was a very strong correlation between the two methods. A total of 978 measurements were taken using the water immersion technique and these results were used to derive a base density value, and applied to an algorithm based upon interpolated Pb, Zn and Fe grades. The following formula was derived and used to calculate the bulk density for each block in the block model, where Pb, Zn and Fe are the estimated block grades, and BD is the base density value assigned to a combination of each of the lithostratigraphic and weathering domains. Density = 100/((100-Pb%-Zn%-Fe%)/ BD) + Pb/11.35 + Zn/7.14 + Fe/7.87) Mineral Resource Classification The Mineral Resource is classified as a combination of Measured, Indicated and Inferred in accordance with guidelines contained in the JORC Code. The Mineral Resources were classified based upon drill hole spacing, quality of sampling and sample analyses, quantity of density measurements, the relative confidence in the geological interpretation, and the ‘slope of regression’ (SOR) outputs from the kriging grade interpolation. This upgrade to the Mineral Resource is supported by a high level of confidence in the geological interpretations in areas previously classified as either Indicated or Inferred, where recent diamond drilling has improved the confidence of the geological models, and the quality of the local block estimates. A drill spacing of equal to or less than 25m (north) by 25m (east) was used to initially define the Measured volumes and a drill spacing of equal to or less than 50m (north) by 50m (east) was used to initially define the Indicated volumes. The block model was viewed in plan section, with blocks coloured by SOR (typically > 0.7) to assist this process. Polygons were digitised around the appropriate volumes and the Resource classification assigned to the block model. Inferred volumes are based upon a drill spacing of 50 to 100m (northing) by 50 to 100m (easting). Beta has been partially classified as Indicated for the first time. The Aprilia deposit is wholly classified as Inferred. The additional mineralisation domains in Bimota, Omega and Norton are classified as Indicated or Inferred. The Competent Person considers there is insufficient geological support to classify any of these domains as Measured. Modifying Factors A feasibility study was completed in 2023 and demonstrated strong pre-tax economics including the A$705M net cash flow, NPV of A$370M, IRR of 35% and an average annualised EBITDA of A$119M. The open pit production target was estimated to be 18.3 million tonnes at an average grade of 3.4% lead and 39g/t silver. No other modifying factors were considered during the preparation of the Mineral Resource estimate. Reasonable Prospects Hurdle The Competent Person believes there are reasonable prospects for eventual economic extraction of the Mineral Resource, as supported by the 2024 Sorby Hills FEED Study and the Final Investment Decision taken by Boab in respect of the Sorby Hills Project in December 2025. Sorby Hills Project Sorby Hills is a silver-lead-zinc project located in the East Kimberley region of Western Australia. This announcement reports the updated Mineral Resource estimate only. Any implications for Ore Reserves, mine planning, production targets or project economics require separate assessment and, where material, separate disclosure in accordance with the applicable JORC Code and ASX Listing Rules. The Board of Directors have authorised this announcement for release to the market. FOR FURTHER INFORMATION, PLEASE CONTACT: Simon Noon Managing Director & CEO Phone: +61 (0)8 6268 0449 Email: info@boabmetals.com ABOUT BOAB METALS LTD Boab Metals Limited (“Boab”, ASX: BML) is an Australian resources company specialising in the exploration, development, and production of base and precious metals. Based in Perth Western Australia, Boab is positioning to become a significant new producer of silver and lead, capitalising on strong silver and lead market fundamentals to deliver long-term shareholder value. Boab’s flagship Sorby Hills silver-lead project in the East Kimberley is Australia’s largest undeveloped, near- surface silver-lead deposit. This 100% owned project is fully funded and under construction, targeting first production in the second half of 2027. Boab is taking a capital efficient approach to developing Sorby Hills, leveraging existing regional infrastructure and repurposing major assets to reduce capital costs, construction timeline and the need for new infrastructure. Boab also holds a portfolio of exploration assets with the potential to support future resource growth and mine life extensions. Competent Person Statement The information in this announcement that relates to Mineral Resources is based on, and fairly reflects, information compiled by Mr David Williams, a Competent Person who is an employee of ERM Australia Consultants Pty Ltd and a Member of the Australian Institute of Geoscientists (RPGeo #4176). Mr Williams has sufficient experience 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 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Williams consents to the inclusion in this announcement of the matters based on his information in the form and context in which they appear. Appendix 1 - JORC Code (2012 Edition) Table 1 Section 1 Sampling Techniques and Data Criteria JORC Code Explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. 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 mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘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 mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. During the 2020 (Phase IV) to 2023 (Phase VII) diamond drilling programmes: • Diamond core sampling was conduct