Announcement PDF FY25 tell Year Financial \ ae 12 Ma rch 2025, SS > 7 RIGHT _J RESOURCES Right Resources Pty Ltd FY25 Half Year Financial Report i FY25 Half Year Financial Report 12 March 2025 Right Resources Pty Ltd FY25 Half Year Financial Report i Contents Corporate Directory ....................................................................................................................... ii Letter from the Chairperson...........................................................................................................1 Key Highlights .................................................................................................................................2 Directors and Management ..........................................................................................................3 Operations Review .........................................................................................................................5 Directors’ Report ...........................................................................................................................20 Consolidated Statement of Profit or Loss and Other Comprehensive Income........................ 22 Consolidated Statement of Financial Position............................................................................23 Notes to the Consolidated Financial Statements.......................................................................26 Directors’ Declaration ..................................................................................................................33 Figures Figure 1 2024 Exploration defines continuous gold mineralisation over a 52km strike length sub parallel with the Henry Fault....................................................................... 4 Figure 2 EL9449 (Maragle) Outlook .............................................................................................7 Figure 3 View looking west to collapsed underground adit and main shaft, Pilot Project..... 8 Figure 4 Dr Jim Yaxley inspecting adit at Pilot Project............................................................... 8 Figure 5 Stockwork in granite at Pilot Project ............................................................................. 8 Figure 6 EL9449 Birdseye...............................................................................................................9 Figure 9 Managing Director Graham Howard observing alluvial mining site (Winnie prospect) ......................................................................................................................10 Figure 7 Sulphide veining in porphyry (Pan prospect)............................................................. 10 Figure 8 Porphyry ........................................................................................................................10 Figure 10 Storm Break Prospect outlook ................................................................................... 11 Figure 11 Storm Project Geophysical Interpretation................................................................ 12 Figure 12 EL9089 (Bullseye) Outlook .......................................................................................... 13 Figure 13 Birdseye view of logging over Bullseye Project area............................................... 14 Figure 14 Chalcopyrite (ore zone) in quartz comb textures (‘Bullseye Project porphyry’)... 14 Figure 15 Petrographic analysis of Company sample showing copper mineralisation........ 14 Figure 16 EL9028 (Laurel Hil) Landscape outlook ..................................................................... 15 Figure 17 Mineralised veins at Halloumi Prospect. ................................................................... 16 Figure 18 Laurel Hill Prospect in logging area. ......................................................................... 16 Figure 19 Typical stockwork veining at Halloumi, showing general N-S strike extent with vein with up to 0.9m..................................................................................................... 16 Figure 20 Aerial view in New South Wales ................................................................................ 17 Figure 21 Locality of New England Tenements ........................................................................ 18 Right Resources Pty Ltd FY25 Half Year Financial Report ii Corporate Directory Directors Chris Brown Non-Executive Chair Graham Howard Managing Director Lauren Robinson Executive Director Company Secretary Lejo Ouwendyk E: lejo@kennerlys.com.au Registered and Principal Office 37 Ord Street West Perth 6005 ABN 81 649 632 744 Email: info@righresources.com.au Website: www.rightresources.com.au Share Registry Automic Group 191 St Georges Terrace Perth WA 6000 Auditor Armada Accountants & Advisors 18 Sangiorgio Court Osbourne Park WA 6017 Right Resources Pty Ltd FY25 Half Year Financial Report 1 Letter from the Chairperson On behalf of the Right Resources Board, I am pleased to present the HY25 Audited Financial Report. An Extraordinary Year of Discovery At the close of 2024, the Company has now defined five major project areas of gold mineralisation in Tumbarumba; the Pilot Project, the East Maragle Project, the Bullseye Project, the Laurel Hill Project, and the recently discovered gold porphyry system, Storm Project. The Company has had an exciting year of discovery, and I would like to take this opportunity to thank the dedication of our team to achieve such a tremendous amount of success. The Storm Project is another exceptional discovery, and the third porphyry gold system in our tenure, with a 10km x 6km footprint and located north of the Bullseye Project. This is the third potential porphyry system that runs along the west of the Company’s defined 52km long Henry Fault. Expanding our Assets Company tenure holding increased by a further 276km² with the successful grant of new tenement Gilmore (EL9712) along the eastern and northern boundary of the Tumbarumba tenement package. The new tenement captures new gold and copper targets situated along the major Gilmore Suture. This brings the Company’s total holding to 1,480km². Poised for Strategic Opportunities The Company successfully raised $1.2M over the December quarter as part of its September 2024 Entitlement Offer and Placement, closing the raise oversubscribed at $3.3M in February 2025. The Company is currently in the planning phase for strategic exploration programs in 2025 to further develop our projects. This positions the Company for an exciting year ahead, with the increasing potential of introducing a Tier One cornerstone to develop the Tumbarumba gold-copper province. Should this be achieved, it would lay the foundation for a potential public listing of the Company. On behalf of the Board, we’d like to extend our gratitude to our shareholders, local stakeholders and community for their support over such a successful year. Yours sincerely, Chris Brown Chairperson Right Resources Pty Ltd FY25 Half Year Financial Report 2 Key Highlights Strong focus on Government incentives Board and management have proven ability to access Research & Development Tax Incentives (R&DTI), including early access through finance agreements. Early engagement of industry experts and research institutions to enable access to Government grants. Definition of major new gold province Over 50km of gold and copper mineralisation identified in multiple porphyry and epithermal style deposits which occur parallel to the north trending Henry Fault. This places the Company in a unique position to controlling a major new gold province in NSW. Discovery of three major gold and copper porphyry systems Three gold and copper porphyry systems uncovered namely Storm, Bullseye and East Maragle Projects. Plus, multiple low and high-sulphidation gold epithermal systems including very high Au grade gold deposit, Pilot Project. Successful Capital Raising A$3.3M raised in oversubscribed September 2024 Entitlement Offer and Placement, enabling significant in field mapping and geochemistry programs during 2024, and fuelling exploration activities in 2025 with commencement of aerial geophysics surveys of Pilot and Storm Projects. Poised for Strategic Opportunities Strong corporate commitment to establishing strategic partnerships with cornerstone investors, with a growth narrative that would appeal to Tier One companies. Right Resources Pty Ltd FY25 Half Year Financial Report 3 Directors and Management Chris Brown Non-Executive Chairperson 35+ years as a corporate advisory director of Chartered accounting firm William Buck (est 1895) as well as holding directorships of public and private companies in Australia, USA, UK, China, Hong Kong and Singapore. Chris has provided strategic advice to a diverse range of clients in various industry sectors including mining & energy, infrastructure, life sciences, digital & new generation technologies, capital markets and philanthropy Graham Howard Managing Director Experienced corporate executive with over 35 years of resource industry experience with delivery of over 45Moz of gold (JORC), with a proven track record in creating, developing and funding companies as either unlisted or listed corporate entities. Graham has held significant roles in major gold and copper projects leading technical and approval teams that have successfully delivered or defined mining projects with life of mine >20 years and revenue >AUD 20 billion, including Telfer (Au/Cu), Boddington Au/Cu (Newcrest), Silangan Au/Cu Project (Philex/Silangan), and Goschen critical mineral (rare earth, zircon and titanium) Project (VHM). Graham is currently a Non-Executive Director of unlisted exploration company VP Minerals Ltd. Lauren Robinson Executive Director 16+ years experience in project management across the mining and construction industries, with 7 years in senior leadership roles. Lauren has held senior management roles in private small-cap gold and critical mineral exploration companies, with proven ability in corporate governance, exploration program and tenement management, delivery of resource estimation, feasibility studies and approvals, successful non-dilutive funding through R&DTI, and investor relations management. Lauren is also the Executive Officer for VP Minerals Limited focusing on gold and critical minerals exploration in Northwest Victoria. Jerom Bourne Chief Financial Officer 25+ years of resources industry experience specialising in strategy, planning, financial management and commercial negotiations. Jerom is an effective communicator and a respected leader of financial, compliance and commercial functions. He has significant experience in the development of resources projects from exploration though to operations and has broad experience across a number of commodities including gold, critical minerals and iron ore projects, including Ora Banda Mining, Iluka Resources, VHM Ltd, Mt Gibson Mining, Karara Mining, Rio Tinto and BHP. Right Resources Pty Ltd FY25 Half Year Financial Report 4 Tumbarumba Project Overview Figure 1 2024 Exploration defines continuous gold mineralisation over a 52km strike length sub parallel with the Henry Fault. Right Resources Pty Ltd FY25 Half Year Financial Report 5 Operations Review Review of Exploration Activities “2024 will go down as a watershed year for the Company with the discovery of three giant porphyry gold + copper systems and seven epithermal fields.” – Graham Howard, Managing Director The Company has achieved an astounding rate of discovery of gold and copper mineralisation systems at Tumbarumba during 2024. Since June 2024, the Company has increased the number of gold prospects to 37, with five major project areas of gold mineralisation now defined: the Pilot Project, the East Maragle Project, the Bullseye Project, the Laurel Hill Project, and the recently discovered Storm Project, all confirmed by geophysical survey analysis, geological mapping and geochemistry sampling and assaying. The Company can now report that it has established a strong prospective gold belt with a strike length of 52km that runs parallel to the recent Company defined Henry Fault (Figure 1), yet we have only just scratched the surface with respect to further exploration discoveries. The Company has engaged specialist geophysicists and geologists who have identified multiple new potential targets which will be an ongoing focus through 2025. Historically, gold mineralisation in the Tumbarumba region focused on alluvial deposits, deep leads, and quartz reefs. The total recorded gold production from the Tumbarumba goldfield between 1859 to 1954 is estimated to be 119,279oz, largely from alluvial deposits where the primary source was never identified. Interpretation during 2024 of Company flown light detection and ranging (LiDAR) surveys identified evidence of over 27 million tonnes of material was mined by surface alluvial operations. This is significantly more material than recorded in the NSW state records, validating the Tumbarumba region’s potential to be a major new gold district. No modern systematic exploration has been completed over the Company’s tenure, with limited and sparse exploration drilling. During 2024 the Company also successfully increased its tenure holding at Tumbarumba by achieving ministerial approval for new tenement EL9712, referred to as Gilmore, which has strong potential to host both gold and copper mineralisation along the eastern boundary of the current tenement package (Figure 1). In 2024, a Right to Negotiate (RTN) was successfully completed for EL9028 (Laurel Hill) and EL9089 (Quartzville). Right Resources Pty Ltd FY25 Half Year Financial Report 6 Review of Corporate Activities In February 2025, Right Resources successfully completed its oversubscribed September 2024 Entitlement Offer and Placement, raising a total of $3,309,240.25. The Company issued 4,412,319 shares with a total of 10,492,319 ordinary shares on issue at the completion of the fund raising. In Q1 2025, Board and Management have focused on preparing to transition the Company from a proprietary limited company to an unlisted public company. This will, amongst other things, require the Company to adopt a new Constitution. This Constitution will be ASX compliant thereby allowing the Company to proceed an initial public offering (IPO) should the Company pursue this as part of its strategic initiative. The Company has control over a suite of unique porphyry projects within a desirable location and with potentially low sovereign risk underground operation concepts. This offers an exceptional opportunity for Tier 1 domestic or international gold and copper partners. As such, the Board and Management are preparing for negotiations to attract cornerstone partners to support the Company’s next exploration phase. Right Resources Pty Ltd FY25 Half Year Financial Report 7 Pilot Project Tenement EL9449 System Porphyry and epithermal system, with high grade gold stockwork system Scale 1.9km x 1.1km Prospects Pilot, Knuckles, and Shadow The Pilot Project sits within the larger East Maragle Project porphyry complex and hosts the historical Pilot Reef mine. The Company’s LiDAR survey, along with review of historical documentation, has enabled the reconstruction of the historical underground mine’s profile, identifying four underground development levels. Company geochemistry sampling at the Pilot Project has identified strong indications of a Very High Grade (VHG) gold system extending noth and south associated with thin porphyry units and will be the target of future resource definition activities. The Company is very focused on rapidly advancing the Pilot Project, through completing a geophysics program using magnetotellurics (MT) helicopter program to identify both alteration and sulphide mineralisation. The Company has also advanced working on a 3D geological model of grade and tonnage to inform the extent of potential mineralisation at the Pilot Project. The outcomes of these activities will assist with defining priority targets for a maiden drilling program in 2025. Right Resources Pty Ltd FY25 Half Year Financial Report 8 Figure 3 View looking west to collapsed underground adit and main shaft, Pilot Project. From right to left, Mr Les Stringer (Operations Manager) Dr Jim Yaxley (Geologist) and Mrs Lauren Robinson (Executive Director) Figure 5 Stockwork in granite at Pilot Project Figure 4 Dr Jim Yaxley inspecting adit at Pilot Project Right Resources Pty Ltd FY25 Half Year Financial Report 9 East Maragle Project Tenement EL9449 System Porphyry and epithermal system Scale 8.4km x 3.9km Prospects Magnolia, Peony, Pan, Toucan, Sonic and Nemo The East Maragle Project is a porphyry complex that hosts a number of significant prospects associated with the Henry and Gilmore Faults. It was identified based on both evaluation of LiDAR and radiometrics geophysical data by the Company’s geologists, and by on ground mapping and sampling by the Company during 2024. Limited production records exist on Maragle's historical mining operations. Field observations in 2024 support extensive alluvial workings and shallow shaft locations linked to hard rock mining. Mapping and assaying confirms extensive porphyry related alteration and mineralisation across multiple prospects. East Maragle porphyry system is located close to where the Henry Fault splays from the contacted scale Gilmore suture, meaning the tenement is a highly prospective area to search for gold and copper. Right Resources Pty Ltd FY25 Half Year Financial Report 10 Figure 9 Managing Director Graham Howard observing alluvial mining site (Winnie prospect) Figure 8 Porphyry Figure 7 Sulphide veining in porphyry (Pan prospect) Right Resources Pty Ltd FY25 Half Year Financial Report 11 Storm Project Tenement EL9089 and EL9028 System Porphyry system mapped and sampled Scale 10.2km x 6.1km Prospects Squall, Rainstorm, Edam, Storm Break, Hail, Thunder, Lightning and Snowstorm The Storm Project porphyry system was discovered based on a combination of geophysics evaluation and radiometric geophysical data in November 2024 (Figure 11). The Storm Project displays a massive magnetic disruption zone with a visibly different terrain than neighbouring areas and prominent north, northeast trending alteration and stockwork corridors. In December 2024, the Company completed extensive on-ground surface mapping and reconnaissance activities including ionic leach geochemistry, where results were analysed by specialist geologists for signatures relating to porphyry, epithermal and intrusive related gold (IRG) systems. Geological mapping confirmed alteration assemblages at surface of potassic, phyllic, prophyllic and argillic alteration over a 10km x 6km area (Figure 10). This coincides with either gravity anomalies or strong Th/K alteration assemblage in the geophysical data sets. Rock chip samples associated with phyllic alteration which have been extensively mapped at the Storm Break prospect. The Storm Project demonstrates scale based on mapping of alteration. Initial geochemistry sampling supports the concept that the Storm Project is a larger lower gold grade bulk tonnage target. The Company is completing a gravity and MT geophysics program in Q1 2025 to identify both alteration and sulphide mineralisation, which will assist with defining priority targets for a maiden drilling program in 2025. .) RIGHT RESOURCES Laurel Hill Bullseye 6059000 Legend Rock Samples [__] Project Areas A Prospects MM Demagnetised Zone kes] Geophysical Gravity Anomaly Geophysical K Anomaly MO) TH and K Ratio —— Major Fault === RR Tenements 6048000 596000 598000 602000 606000 2 : ae Storm Project * a 2 BT spas | Geophysical isis eases Interpretation A Dw: umo260 Figure 11 Storm Project Geophysical Interpretation Right Resources Pty Ltd FY25 Half Year Financial Report 12 Right Resources Pty Ltd FY25 Half Year Financial Report 12 Figure 11 Storm Project Geophysical Interpretation Right Resources Pty Ltd FY25 Half Year Financial Report 13 Bullseye Project Tenement EL9089 System Porphyry with high and low sulphidation epithermal systems over printing porphyry system Scale 8.5km x 7km Prospects Woody, Andy and Buzz The Bullseye Project was identified based on both evaluation of the Company’s LiDAR data, public sourced gravity and radiometrics geophysical data, and by on ground mapping and sampling by the Company during 2023 and 2024. Five sampling programs (B horizon soil, ionic leach and rock chip geochemistry sampling) were undertaken throughout 2024, confirming alteration assemblages at surface of phyllic, propylitic and argillic alteration. This coincides with either gravity anomalies, magnetic lows due to destruction of magnetite from hydrothermal activity, or Th/K alteration anomalies in the geophysical data sets. Rock chip samples were taken associated with quartz stockwork. Extensive alluvial workings cover the Central Bullseye area. LiDAR interpretation reveal extensive alluvial sluicing as well as underground shafts within this area. Forestry roads cut through multiple 0.5m to 2m wide epithermal reef systems. These reefs typically strike 090 trending east to west and extend over 800m to 1000m in length. Smaller scale mineralised structures trend 020 degrees to the north northeast intersecting the main structure, resulting in the development of high grade ore shoots. The ore shoots have been historically mined over tens of meters and up to 6m wide with reported grades of up to 60g/t Au. The Company has mapped a large number of shafts and workings and is in the process of compiling 3D geological model of grade and tonnes within the Bullseye Central area. This estimate will include the new Woody prospect, which has returned copperanomalies, , confirming that the Bullseye system is prospective for both gold and copper. Our consulting Geophysicist has identified a significant gravity anomaly which is likely to be an extension of the current Bullseye Project to the north of our current exploration efforts and as such this will become a focus of exploration during 2025. The Bullseye Project is shaping up to be another significant gold-copper porphyry system discovery that will remain a high priority target during 2025. Right Resources Pty Ltd FY25 Half Year Financial Report 14 Figure 13 Birdseye view of logging over Bullseye Project area. Figure 14 Chalcopyrite (ore zone) in quartz comb textures (‘Bullseye Project porphyry’). Figure 15 Petrographic analysis of Company sample showing copper mineralisation. Right Resources Pty Ltd FY25 Half Year Financial Report 15 Laurel Hill Project Tenement EL9028 System Intrusive related gold system associated with quasi circular shaped breccias and vein systems and geophysical anomalies Scale 5.1km x 4.5km Prospects Halloumi, Brie and Havarti During the year the Company carried out comprehensive exploration work over the Laurel Hill Project in EL9028, which has significantly enhanced the understanding of the collective project area and its mineralisation potential. The Company conducted reprocessing of existing geophysical data, geochemical and geological mapping resulting in the discovery of Brie, Havarti and Halloumi prospects. Geophysics and geochemistry data confirms circular pipe-like gold systems located at Brie and Havarti, and separately at the Halloumi prospect. Based on evaluation of nearby gold deposits it is likely that these pipelike mineralised zones potentially extend of 1,000m in depth, indicating potential for material gold systems in the area. Right Resources Pty Ltd FY25 Half Year Financial Report 16 Figure 17 Mineralised veins at Halloumi Prospect. Figure 18 Laurel Hill Prospect in logging area. Figure 19 Typical stockwork veining at Halloumi, showing general N-S strike extent with vein with up to 0.9m. Right Resources Pty Ltd FY25 Half Year Financial Report 17 New England Tenements Tenements EL9170 and EL9412 System Prospective for intrusive related gold, copper and silver systems Area 198km2 Prospects Drake, Awilde, Black Bart, Corsair, Teach, Margans, Yellow Beard and Anne Bonny Work has advanced on the Company’s New England tenements EL9412 (Boorook) and EL9170 (Boonoo Boonoo) in the North of New South Wales, approximately 480km southwest of Sydney. These tenements are located within the New England Fold Belt (NEFB) of New South Wales, a rich location with prospective Copper, Silver, Molybdenum, Antimony and Gold targets. In 2024, the Company further developed its understanding of New England Fold belt, leveraging a well understood geological framework integrating advanced structural models, stratigraphic insights and proven ore deposition mechanisms. The review and reinterpretation of geophysical data and historical drilling data indicates both tenements have potential for porphyry and intrusion related gold systems. ) RIGHT RESOURCES 410000 f . . ae FJ wt int a 8 Foye! @ARROLLS CF creek avi« ncallt oe 6819000 6809000 6799000 Be, ooodie9 Legend (~} State Forest [)) Tenements ? @ Towns/Localities TAA 2 410000 420000 — ~] * RIGHT —— km RESOURCES / 7 200,000 New England A Dete: 4/2023 “oll GDA1994 / MGAS6 Figure 21 Locality of New England Tenements Right Resources Pty Ltd FY25 Half Year Financial Report Right Resources Pty Ltd FY25 Half Year Financial Report 18 Figure 21 Locality of New England Tenements Right Resources Pty Ltd FY25 Half Year Financial Report 19 Company Tenements District ID Area (km2) Projects Prospects Tumbarumba EL9028 276 Laurel Hill Project Brie, Edam, Halloumi, Havarti Storm Project Squall - Blue EL9029 116 - Lock Key, Chuck Key, Million Dollar Hill EL9089 267 Storm Project Storm Break, Hail, Thunder, Lightning, Snowstorm, Rainstorm Bullseye Project Andy, Buzz, Woody - Lulu, Phantom EL9449 348 Pilot Project Pilot, Shadow, Knuckles East Maragle Project Magnolia, Peony, Pan, Toucan, Sonic, Nemo - Foxglove, Bluebell, Marigold, Primrose, Longclaw, Sally, Lotus, Winnie EL9712 276 - - ELA6875 609 - - New England EL9142 150 - Drake, Awilde, Black Bart, Corsair, Teach, Morgans, Yellow Beard, Anne Bonny EL9170 48 - - Table 1 Overview of Company Assets Right Resources Pty Ltd FY25 Half Year Financial Report 20 Directors’ Report FOR THE HALF YEAR ENDED 31 DECEMBER 2024 The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Consolidated Entity' or "Group") consisting of Right Resources Pty Ltd (referred to hereafter as the 'Company' or 'Parent Entity') and the entities it controlled at the end of, or during, the year ended 31 December 2024. Directors The names of the Directors in office at any time during, or since the end of, the year are:  Graham Roger Howard  Lauren Amanda Robinson  Christopher John Brown Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Principal Activities The principal activities of the Group during the half-year were mineral exploration of gold and copper. No significant change in the nature of these activities occurred during the half-year. Significant Changes in the State of Affairs No significant changes in the Group's state of affairs occurred during the financial year. Review of Operations In early 2024, the Company processed the 2023 LiDAR surveys across both Tumbarumba and New England Tenements. This work was reviewed along with historical state geophysical and remote sensing surveys to form a geophysical interpretation, focusing on the Tumbarumba tenements. The Company then commissioned a Conceptual Thinking report, that integrated this work with a review of high-resolution point cloud data to identify potential historical adits, shafts, alluvial workings and other points of interest for field investigation. The combined findings from this work formed a clear indication that the Tumbarumba tenement district hosts multiple potential porphyry systems, with potential for gigantic gold and copper mineralisation discoveries pending further exploration. Throughout 2024, the Company pursued this interpretation with geochemical surveys through field work covering an extensive area of the Tumbarumba district. This activity resulted in a positive outcome with the definition of another major key project, The Storm Project. This is the fourth project defined west, sub-parallel to the Henry Fault. The Company also advanced exploration on the potentially very high-grade gold prospect, Pilot in East Maragle Project. The Company has been working towards an Exploration Target for this Pilot prospect, with an anticipated announcement in H1 2025. The Company has also successfully increased its tenure holding at Tumbarumba by securing the new tenement EL9712, referred to as Gilmore, which has strong potential to host both gold and copper mineralisation along the eastern boundary of the current tenement package. Additionally, a Right to Negotiate (RTN) was successfully completed for EL9028 (Laurel Hill). RTNs were also lodged and are currently in progress for EL9029 (Burra Creek), EL9449 (Maragle) and new tenement EL9712 (Gilmore), to enable potential drilling. Events Subsequent to the End of the Reporting Period Subsequent to year end, the Company raised $2,107,817 at $0.75 per share. Date of Issue Number of Shares Price per Share Total Amount Paid 25 February 2025 2,810,422 $0.75 $2,107,817 Also subsequent to the end of the financial year, an employee sustained an injury whilst on site with the estimated liability amounting to $40,000. Directors’ Report continued Right Resources Pty Ltd FY25 Half Year Financial Report 21 No other matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future fina