Drilling Campaign Approved at Harts Range Project

New Frontier Minerals Limited (LSE/ASX:NFM), is pleased to announce that regulatory approvals for the maiden RC drill program to test near surface mineralisation at the Harts Range Heavy Rare Earths and Niobium Project, located 140km north-east of Alice Springs in the Northern Territory, Australia have been received from the NT Department of Mining and Energy.

• Drilling approval granted by the NT Department of Mining and Energy (DME) for New Frontier Minerals' maiden drilling campaign at the Harts Range heavy rare earth and niobium Project
• The campaign comprises up to 46 reverse circulation (RC) holes, targeting multiple high-priority anomalies defined through regional geophysics, detailed geological mapping and surface geochemistry completed by the NFM team over the past 12 months
• Planning and preparatory activities are advancing, with logistics and drill pad construction being scheduled ahead of the proposed mobilisation of the drilling crew
• The campaign is designed to test the depth extension of the heavy rare earth mineralisation, with particular attention to dysprosium and terbium - critical elements in high-performance permanent magnets used in electric vehicles, wind turbines, and advanced defence technologies
• Additionally, the Company expects to shortly receive metallurgical test-work results from the 25kg bulk sample that was being analysed for rare earth processing
• Following a comprehensive review, NFM has applied to list on the US OTCQB market to enhance visibility and gain access to US investors wanting exposure to Australian explorers focused on critical minerals, especially heavy rare earth elements

Chairman Gerrard Hall, commented:" We are delighted regulatory approval to commence the RC drilling campaign at the Harts Range Project has been secured. NFM's contractors and geology team are now working at an accelerated pace to ensure the campaign can get underway in a timely manner. Meanwhile, we expect to shortly receive metallurgical test-work results from the 25kg bulk sample that was being analysed for rare earth processing. The Board is optimistic that as insights start coming to hand from the metallurgical test work and drilling campaign, a clearer picture of the underlying heavy rare earth system will materialise.

Following a detailed strategic review, the Board has resolved to pursue a listing on the US OTCQB Market to strengthen NFM's international visibility and broaden its investor base, particularly among US investors seeking exposure to Australian critical minerals explorers."

DRILLING TO COMMENCE

The RC drilling campaign will comprise up to 46 drill-holes for circa 2,500m to test the numerous prospects that have been identified from the exploration activities undertaken at Harts Range over the past 12 months (Figure 1). The program has been designed to test depth extensions to the near-surface zones of high-grade heavy rare earth and niobium mineralisation, identified from field campaigns.

Preparation is moving into top gear, with logistics and drill-pad formation work at the forefront ahead of the drilling team mobilising to site to commence the campaign.

Figure 1: Prospects and planned RC drill-hole locations at Harts Range Project

METALLURGICAL TEST WORK

NFM anticipates receiving near-term results from metallurgical test work undertaken on a 25kg bulk sample from the Cusp Prospect. These processing studies aim to identify beneficiation and separation pathways that could expedite commercialisation and underpin potential offtake negotiations with international magnet industry partners.

OTCQB MARKET

After a comprehensive review, the Board believes there are significant benefits to be derived from listing NFM on the US OTCQB market. The primary goals are to increase NFM's international profile but more importantly gain traction with US investors, especially those wanting exposure to Australian explorers targeting critical minerals (especially dysprosium and terbium).

This announcement was approved for release by the Board of New Frontier Minerals Limited.

REFERENCES

NFM ASX Release "Harts Range continues to deliver Heavy Rare Earth Mineralisation at surface" - 24 July 2025

NFM ASX Release "Harts Range bulk sample returns 1.72% TREO including 4.51% Nb2O5 and exceptional HREO/TREO ratio of 94.8%" - 25 August 2025

​

Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland. New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".

ASX Listing Rule 5.23.2