Grant Of Prospecting Licence Over Bakers Gold

Further to its announcement of 28 July 2026, the Company is pleased to announce that the Government of Western Australia has now granted Prospecting Licence 51/3378 ("the Licence" or "P51/3378") covering the high-grade gold target at the Bakers Gold Project.

Key Points:

• Secure Tenure: Licence granted for an initial 4-year term to 6 August 2030, renewable for a further 4 years.
• High-Grade Gold: Company's previous drilling intersected high-grade gold mineralisation. Hole 21SBRC002 intersected 2m grading 14.4 g/t gold from 64m downhole.
• Open Potential: High-grade mineralisation is open in all directions and occurs below an extensive gold-in-soil anomaly.

"We are delighted that the Government has moved so quickly to grant this licence following the signing of the recently announced Aboriginal Heritage Agreement and the withdrawal of Aboriginal objections. The Bakers Project is a valuable asset for the Company and our past expenditure on this project, just over £162,000, does not reflect in our balance sheet having been written off in 2022 following the end of our previous tenure over the area.

"After years of impasse, our exploration rights are now secure and the Company is free to resume exploration of this exciting project and to follow-up on our previous high-grade gold drilling results. Since we last drilled at Bakers, there have been a number of new gold discoveries in this part of the Murchison Greenstone Belt which add to the overall prospectivity of the Bakers Project."

Patrick Cheetham, Executive Chairman

The Licence application is located 25 kilometres south-east of Meekatharra in the Murchison Goldfield of Western Australia. It lies on the eastern limb of the Meekatharra Greenstone Belt which has yielded several million ounces of gold and contains a number of present and past producing gold mines (see Figure 1).

Historically, the eastern limb of the belt has received less attention than the more productive western limb, but recent developments have brought this part of the belt into sharper focus with the impending development of Great Boulder Resources' Side Well Project (1,021,000oz Au grading 2.0g/t Au) and the start of production from the Tumblegum Mine led by Star Minerals (custom milling of 616,000-tonne resource grading 2.28g/t).

Sunrise has previously carried out mapping, soil sampling and, in 2021, a first drill programme. The main target tested was the DRL4 Target, named after the hole number of a shallow historic rotary air blast drill hole (DLR4) which was completed by Australian Consolidated Minerals in 1987. Historic hole DLR4 averaged 0.55g/t gold over the 22m interval from 2m down hole depth to the end of hole at 24m and the final 2m sample assayed 1.17g/t gold.

Sunrise defined a 500m long gold-in-soil anomaly centred on hole DLR4 (see Figure 2) and three drill holes, 21SBRC002, 3 & 5, were drilled at 50m spacing in a fence configuration across the soil anomaly with the most north-easterly hole in the traverse, 21SBRC002, encountering high-grade gold mineralisation. A 2m interval from 64m down hole (approximately 50m below surface) graded 14.36g/t gold and included a 1m interval grading 26.51g/t gold. A 7-metre zone with low-grade gold values was intersected immediately below.

This high-grade gold drill intersection has not yet been followed up.

The Licence

Prospecting Licence 51/3378 was granted to the Company's Australian subsidiary, Sunrise Minerals Australia Pty Ltd on 7 August 2026. It covers an area of 150 hectares and the main targets generated during exploration of a wider, surrounding, area that originally comprised 10 prospecting licences.

The licence is granted for an initial terms of 4 years and can be extended for a further 4 years subject to the Company making its annual rental payments (AUD 664 per annum) and meeting its exploration expenditure commitments (AUD 6,040/year).

The Company first applied for the Licence on 24 November 2023, but the grant of the licence was held 'in application' following an objection by the Aboriginal Native Title holder and a referral to the National Native Title Tribunal. Following a long period of negotiations an agreement was signed on 27 July 2026 between the Company's 100% owned subsidiary, Sunrise Resources Australia Pty Ltd, and the Native Title holder, Yugunga-Nya PBC (YNPBC). The agreement required YNPBC to withdraw its objection, clearing the way for the Licence to be granted. The agreement also establishes the framework and processes for cooperation in the exploration of the Licence and the protection of Aboriginal Heritage.

Qualified Person Information

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Shares in the Company trade on AIM. EPIC: "SRES".

Figure 1: Location Map

Figure 2: DRL-4 Target, Drilling & Geochemistry