Preferred Drilling Contractor Selected

URU Metals Limited (“URU” or the “Company”) is pleased to announce that its subsidiary, Lesego Platinum Uitloop (Pty) Ltd (“LPU”), the project company for the Zeb Nickel Project (“Project”) in Limpopo, South Africa, has completed the tender process for the Zone 2 resource drilling programme and has selected Zaaiman Exploration Drilling (“Zaaiman”) as its preferred drilling contractor. Contract terms are now being finalised.

The tender was issued on 8 September 2026 and closed on 18 September 2026. Bids were evaluated on demonstrated drilling capability, health and safety record and compliance history, total cost, rig availability and earliest achievable drill-ready date, credibility of the submitted schedule, and Broad-Based Black Economic Empowerment credentials.

Highlights

Zaaiman Exploration Drilling selected as preferred drilling contractor for the Zone 2 resource drilling programme, with contract terms being finalised.

Zaaiman has previously carried out diamond drilling at the Zeb Nickel Project and is familiar with the ground conditions, access arrangements and site operating requirements.

Zaaiman has recorded no fatal accident since the company’s inception in 1992 and has maintained that record on the Zeb Nickel Project.

The drilling programme is designed to support a maiden Mineral Resource estimate for the Zone 2 Ni-Cu-PGE mineralisation.

Mobilisation will follow finalisation of contract terms. The Company will update the market on the commencement of drilling.

Prior Experience on the Project

The Company expects Zaaiman’s previous experience, and consequently its knowledge of the ground conditions and access arrangements, at the Project to shorten the establishment period normally associated with mobilising a new contractor, and it provides a known basis for productivity and core quality on a programme where the quality of the core recovered will determine whether the data is suitable for Mineral Resource estimation.

Safety Record

Safety performance and compliance history were material criteria in the evaluation. Zaaiman has recorded no fatal accident since the company’s inception in 1992, both across its operations generally and in its previous work on the Zeb Nickel Project.

The Project is held under an executed Mining Right, and the site is a mine for the purposes of the Mine Health and Safety Act, 1996. Before mobilisation Zaaiman will enter into a written contractor health and safety agreement with LPU, make the statutory appointments required for its work, and ensure that all personnel hold valid medical certificates of fitness.

Next Steps

Contract terms are being finalised with Zaaiman, following which the contractor will mobilise to site. The Company will update the market on the commencement of drilling.

John Zorbas, Chief Executive Officer of URU Metals, commented:

“Zaaiman knows Zeb from its previous drilling on the Project. Their understanding of the ground conditions, site access and how we work gives us confidence as we prepare to start this programme. Our focus is on recovering high-quality core to support a Mineral Resource estimate.

Safety was also a key factor in our decision. Zaaiman reports no fatal accidents since the company was established in 1992, and we expect that commitment to safety to continue at Zeb. We will confirm the drilling start date once the contract terms are agreed.”