Announcement PDF South Australia’s Second Largest Copper Producer Presentation to Analysts 29 April 2025 Bob Fulker Managing Director 1 Important Notice and Disclaimer Disclaimer To the maximum extent permitted by law, neither Hillgrove nor its related corporations, directors, officers, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. Hillgrove is under no obligation to release any updates or revisions to this presentation to reflect any change in expectation or assumptions and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for fraud or negligence). Nothing contained in this Document constitutes investment, legal, tax or other advice. The information in this Document does not take into account the investment objectives, financial situation or particular needs of any recipient. Before making an investment decision, each recipient of this Document should make its own assessment and take independent professional advice in relation to this Document and any action taken on the basis of this Document. All currency referred to is Australian dollars ($) unless otherwise indicated (e.g. US$). Forward Looking Statement This release contains or may contain certain forward-looking statements and comments about future events, that are based on Hillgrove's beliefs, assumptions and expectations and on information currently available to management as at the date of this presentation. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "plan", "believes", "estimate", "anticipate", "outlook", and "guidance", or similar expressions, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production and production potential, financial forecasts, product quality estimates of future Mineral Resources and Ore Reserves. Such statements are only expectations or beliefs and are subject to inherent risks and uncertainties which could cause actual values, results or performance achievements to differ materially from those expressed or implied in this announcement. Where Hillgrove expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and on a reasonable basis. No representation or warranty, express or implied, is made by Hillgrove that the matters stated in this presentation will in fact be achieved or prove to be correct. Except as required by law, Hillgrove undertakes no obligation to provide any additional or updated information or update any forward-looking statements whether on a result of new information, future events, results or otherwise. Readers are cautioned against placing undue reliance on forward-looking statements. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of Hillgrove, the directors, and management of Hillgrove. These factors include, but are not limited to difficulties in forecasting expected production quantities, the potential that any of Hillgrove's projects may experience technical, geological, metallurgical and mechanical problems, changes in market prices and other risks not anticipated by Hillgrove, changes in exchange rate assumptions, changes in product pricing assumptions, major changes in mine plans and/or resources, changes in equipment life or capability, emergence of previously underestimated technical challenges, increased costs, and demand for production inputs. Competent Person’s Statement As an Australian company with securities listed on the Australian Securities Exchange (ASX), Hillgrove is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of ore reserves and mineral resources in Australia comply with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). The information in this report that relates to the 2024 Kanmantoo Mineral Resource Estimate and the 2024 Ore Reserve is extracted from ASX release titled ‘Maiden Kanmantoo Underground Ore Reserve and 96% Increase in Copper Mineral Resource Endowment’ dated 18 October 2024 and is available to view at www.hillgroveresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate and Ore Reserve in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this report that relates to the 2022 Mineral Resource Estimate for Nugent and Kavanagh was extracted from the ASX release titled Updated Nugent Underground Mineral Resource Estimate on the 26 July 2022 and is available to view at www.hillgroveresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements. The information in this report that relates to previously reported exploration drilling results were extracted from the ASX releases titled ‘Quarterly Report and Appendix 5B for 31 December 2024’ released on 21 January 2025, ‘New High-grade Copper-gold Intersections Extend Mineralisation At Nugent’ released on 24 March 2025, “Extensional Drilling Identifies New Mineralisation’ released on 22 April 2025 and ‘Kanappa Cu-Au Drilling Results’ previously released on the 30 January 2019 these are available to view at www.hillgroveresources.com.au. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this release that relates to the Exploration Targets is based upon information compiled by Caitlin Rowett, who is a Member of The Australasian Institute of Mining and Metallurgy. Caitlin Rowett is a full-time employee and holds equity in Hillgrove Resources Limited and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code)’. Caitlin Rowett has consented to the inclusion in the release of the matters based on their information in the form and context in which it appears. ASX:HGO | Investor Presentation | April 2025 2 Corporate snapshot An Australian copper producer Market Statistics Major Shareholders Share price1 Shares on issue Market capitalisation Debt Cash2 Enterprise value $0.037 2,537M $94M Nil $15M $79M Income tax losses3 Franking credits $285M $18M ▪ ▪ ▪ ▪ ▪ ▪ Freepoint Metals & Concentrates 20.0% Ariadne Australia 10.3% Board & Management Derek Carter Bob Fulker Murray Boyte Roger Higgins Joe Sutanto Chair CEO & MD Non-Exec. Director Non-Exec. Director CFO & Co. Sec. Hillgrove owns the Kanmantoo Copper Gold Mine Robust Resource of 19.3Mt at 0.77% Cu and 0.14g/t Au4 Historical production (2010 – 2020): 135kt copper and 55koz gold Generating cash: ramp up commenced in Jan-24, Commercial Production declared in Jul-24, $21 million of Operating Cash Flow generated in 2024 Opportunity to fast-track Nugent development to grow copper production and reduce unit costs in 2026 Appointment of highly regarded executive, Bob Fulker (ex-Evolution Mining and OZ Minerals) Note: Currency is in Australian dollars unless otherwise stated 1. Closing share price on 24 April 2025 2. Cash balance as at 31 March 2025 3. Carried forward as of 31 December 2024 (estimated, prepared but unsubmitted tax return) 4. Refer to ASX release on 18 October 2024 entitled “Maiden Kanmantoo underground Ore Reserve and 96% increase in copper Mineral Resource endowment” ASX:HGO | Investor Presentation | April 2025 Key Recently relinquished tenements 3 ASX copper landscape Scarcity of Copper pureplay Australian producers ▪ There is a large liquidity gap in the Australian Market, investment opportunity ▪ Small-cap copper producers are well positioned to capitalise on investor interest in copper ▪ Significant potential for industry consolidation allowing smaller producers to enhance market relevance ASX Copper Producers and Explorers 4,509 Market Cap (A$M) 1,231 508 445 212 Production (kt) 2 204 174 91 89 79 63 61 45 41 31 29 24 18 NWC KSN CNB KGL PEX CYM TNC AW1 HMX QML SFR MAC AMI FFM 29M A1M AIS HGO 104 41 3.2 - 16 19 25 12 ASX:HGO | Investor Presentation | April 2025 Australian assets Offshore assets Non producers Source: ASX market data and company filings as at 29 April 2025 Note: 1. Annualised for FY25 2. Copper production as reported by company 4 Delivering our Strategy Delivering the Business 2024 • Achieved Commercial Production • Improved Mineral Resource • Maiden UG Ore Reserve • Stabilised costs 2025 • Announced cost and production guidance • Achieve 1.4 million tonne rate • Expanding the mining footprint • 12% improvement in monthly development rates ASX:HGO | Investor Presentation | April 2025 Priority 2 Priority 1 To be a mid-tier Australian, multi asset, copper producer unlocking value for a sustainable future Growing the Business Kanmantoo Organic Growth • Acceleration of Nugent decline • 25% increase in mined tonnages • 40km Resource definition drilling • 20km Resource extension Drilling • Target near mine known mineralisation Hillgrove Inorganic Growth • Greenfield exploration in SA • Status quo is not aligned with superior Shareholder return in the mid term 5 Kanmantoo operations Supplying critical minerals for a sustainable future ▪ Long legacy of environmental stewardship and positive stakeholder engagement ▪ Supporting the local community with a residential workforce ▪ 54% within 25kms ▪ 95% within 125km ▪ Underground bulk mining (stoping) ▪ Well capitalised infrastructure ▪ Plant capacity: 3.6Mtpa ▪ Tailings Storage Facility permitted for 6.0Mt ▪ Power and water supply secured ▪ Concentrate trucked 75km to Port Adelaide ▪ Life of mine offtake with Freepoint Commodities ▪ Maiden Copper Ore Reserve ▪ ▪ Copper Mineral Resource ▪ Rehabilitated Tailings Storage Facility at Kanmantoo 2.8Mt at 0.91% for 26kt Copper1 19.3Mt at 0.77% for 150kt Copper1 ▪ Near mine exploration Targets of 25 to 40 million tonnes at 0.7 – 1.4%2 1. Refer to ASX announcement 18 October 2024 titled ‘Maiden Kanmantoo underground Ore Reserve and 96% increase in copper Mineral Resource endowment’ Refer to ASX announcement 13 February 2025 ASX:HGO | Investor Presentation | April 2025 2. 6 Kanmantoo March 2025 results Record Operational delivery & improved financial results Improved Financial Delivery ▪ 92% increase in Mine Operating Cash Flow to $12.7 million ▪ Strengthened balance sheet to execute our growth plans • ▪ $7.6m from SPP and Tranche 2 Placement in June quarter C1 of US$2.68/lb 0.64 Improved Operational Delivery ▪ ▪ ASX:HGO | Investor Presentation | April 2025 12% increase in copper production for the quarter, 2,952 tonnes • 12% increase in development metres • 9% increase in ore mined • 94.2% copper recovery Driven by continuous improvement • Through systems and processes • Delivering consistency and replicability • Setting up for a 1.8Mtpa operation and beyond 7 On lease growth opportunities Multiple opportunities to increase our Resource and Reserve Kanmantoo Region Exploration Target Deposit Tonnage Range Grade Range Grade Range (Mt) (Cu%) (Au g/t) Targets Below 2024 Mineral Resource Kavanagh 4.5-7.0 0.7-1.4 0.05-0.2 Nugent 2.8-3.4 0.7-1.3 0.3-0.5 Emily Star 3.3-5.0 0.7-1.1 0.05-0.2 North Kavanagh 1.9-2.8 0.7-1.1 0.1-0.3 Targets with No Adjacent Resource Estimate ▪ ▪ ▪ The Exploration Target is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource under the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code” (JORC 2012). The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve. Over the Kanmantoo Copper Mine Region the areas that fall outside of the current mine plan and existing mine voids (pit and underground) have been reviewed and eleven potential highergrade copper-gold target zones have been identified as the focus for future exploration efforts. The identification and location of the target zones is predominantly based upon reviewing depth, width and strike extensions of known copper gold zones that have been mined within the open pit or been intersected by drilling undertaken by Hillgrove. In 2025 19,000 metres of drilling has been planned to expand existing mineral resources and potentially adding new mineralisation. The first drilling campaign for Valentines has been completed with results reported 22 April 2025 in ‘Extensional Drilling Identifies New Mineralisation’. Underground diamond drilling targeting Kavanagh, Nugent, Emily Star and Critchley is planned for 2025 ASX:HGO | Investor Presentation | April 2025 Matthew 3.1-4.7 0.7-1.1 0.1-0.3 Valentines 1.9-2.8 0.7-1.2 0.05-0.2 Paringa 1.2-1.9 0.7-1.0 0.05-0.2 Critchley 1.2-1.9 0.7-1.1 0.05-0.2 Coopers 1.0-2.0 0.7-1.2 0.1-0.3 Targets within 500m of Mine Lease (on EL 6526) South Kanmantoo (EL 6526) 2.0-4.0 0.7-1.2 0.1-0.3 Stella (EL 6526) 2.0-4.0 0.7-1.2 0.1-0.3 Total 25.0-40.0 0.7-1.4 0.05-0.5 Table 1 included as appendix 8 Paringa Mine Circa 1870’s Remnant building, flue and stack are visible today ASX:HGO | Investor Presentation | April 2025 9 On lease growth opportunities Nugent extension * Refer ASX announcement of 21 January 2025 * Refer ASX announcement of 24 March 2025 ▪ Extension of Nugent mineralisation was the first to be tested • Unexpected as we were only testing the extremities of the mineralisation • Additional to existing mine plans ▪ Visible gold sighted ASX:HGO | Investor Presentation | April 2025 10 Group Summary Improved liquidity position ASX:HGO | Investor Presentation | April 2025 ▪ 6% decrease in C1 costs ▪ 6% decrease in AIC Costs ▪ Improved liquidity ▪ Improved Operating Mine Cashflow ▪ Strengthened balance sheet to execute our growth plans ▪ 7,850 tonnes of hedging at average of $14,375 per tonne 11 Focus for next quarter Deliver and grow the business ▪ Maintain focus on our two key priorities • ▪ ▪ ▪ To be a mid-tier, multi-asset Australian copper producer unlocking value for a sustainable future Delivering the business • June quarter copper production greater than March quarter • Deliver both production tonnes and cost within 2025 guidance Organic growth opportunities pursued • Fast track of the Nugent development via the Nugent Acceleration Project • Continued diamond drilling targeting Kavanagh and Nugent depth extensions Maintain strong balance sheet • Prudent cost control and commodity price risk management ASX:HGO | Investor Presentation | April 2025 12 ASX:HGO | Investor Presentation | April 2025 13 Kanmantoo Mineral Resource Mine Area Kavanagh (including Spitfire) North Kavanagh Nugent Emily Star Tonnage (kt) Cu (%) Au (g/t) Ag (g/t) Bi (ppm) Cu Metal (kt) Au Metal (koz) Measured 3,200 0.94 0.04 2.9 190 30 4 Indicated 3,400 0.77 0.10 2.4 97 26 11 Inferred 6,300 0.70 0.11 2.4 110 44 22 Sub-Total 13,000 0.78 0.09 2.5 130 100 37 Measured - - - - - - - Indicated 230 0.78 0.17 3.0 140 2 1 Inferred 110 0.77 0.21 3.3 130 1 1 Sub-Total 340 0.78 0.18 3.1 140 3 2 Measured - - - - - - - Indicated 2,300 0.74 0.36 1.7 66 17 26 Inferred 1,100 0.71 0.35 1.6 40 8 13 Sub-Total 3,400 0.73 0.36 1.6 57 25 39 Measured - - - - - - - Indicated - - - - - - - Inferred 2,600 0.77 0.08 1.6 110 20 7 Sub-Total 2,600 0.77 0.08 1.6 110 20 7 19,300 0.77 0.14 2.2 110 150 82 JORC Classification TOTAL ASX:HGO | Investor Presentation | April 2025 Notes: 1. Due to effects of rounding, total numbers may not sum. 2. Tonnage and metal are rounded to the nearest 1,000 tonnes, grades are rounded to 2 significant figures. 3. Mineral Resource is Reported at a 0.4% Cu Cut Off Grade for all Mine Areas. 4. Mineral Resource is depleted for mining as at 30 June 2024. 5. Mine depletion refers to current Kavanagh UG operation, and historical Giant Pit, Nugent and Emily Star open pits The information is extracted from the report entitled ‘Maiden Kanmantoo Underground Ore Reserve and 96% Increase in Copper Mineral Resource Endowment’ released on 18 October 2024 and is available to view on the Hillgrove Website https://www.hillgroveresources.com.au/announcements. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. 14 Kanmantoo Ore Reserve Mine Area Kavanagh Nugent Total Ore Reserve (Kavanagh + Nugent) JORC Classification Tonnes (kt) Cu (%) Au (ppm) Ag (ppm) Bi(ppm) Cu Metal (kt) Au Metal (koz) Proved 1,100 1.01 0.04 2.82 220 12 1 Probable 1,000 0.88 0.15 2.70 140 9 5 Proved + Probable Kavanagh Total 2,100 0.95 0.09 2.76 180 21 6 Proved - - - - - - - Probable 670 0.76 0.33 1.44 79 5 7 Proved + Probable Nugent Total 670 0.76 0.33 1.44 79 5 7 Proved 1,200 1.01 0.04 2.82 220 12 1 Probable 1,700 0.83 0.22 2.21 110 14 12 Proved + Probable 2,800 0.91 0.15 2.45 160 26 14 Notes: 1. Dry metric tonnes. 2. 0.6% Copper (Cu) design cut-off grade. 3. No Probable Ore Reserve was derived from Measured Mineral Resource. 4. Minimum stope mining width 5.0m apparent. 5. Grades are rounded to two decimal places. Tonnages are rounded to two significant figures. 6. Any minor apparent discrepancies for sums in the table are related to rounding. 7. The period for economic extraction is from Sept 2024 until April 2027. 8. Ore Reserve converted from Mineral Resource is based on the October 2024 Mineral Resource report by Caitlin Rowett (Hillgrove Resources Limited) and Sonia Konopa (ERM) titled “Kavanagh, Nugent & North Kavanagh Underground Mineral Resource Estimate", as at 30th September 2024. 9. Competent Person: Tom Bailey MAusIMM (#206304). 10. Mining has commenced and observed ground conditions have been very good. Further geotechnical investigation is required to increase confidence in the stable mining spans. The information is extracted from the report entitled ‘Maiden Kanmantoo Underground Ore Reserve and 96% Increase in Copper Mineral Resource Endowment’ released on 18 October 2024 and is available to view on the Hillgrove Website https://www.hillgroveresources.com.au/announcements. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. . ASX:HGO | Investor Presentation | April 2025 15 JORC Table 1 Section 1 Criteria Sampling techniques Sampling Techniques and Data Commentary • Reverse circulation (RC) and diamond drill hole (DD) samples collected by Hillgrove Resources personnel have been used for the geological interpretation and estimation. • Drill hole sampling was conducted as per the Hillgrove Resources procedures and QAQC protocols. RC Drilling: • 2004 to 2007 drilling: • A rig mounted 75/25 splitter was used to collect a bulk sample and smaller split sample (3-4kg) directly off the drill rig at 1m intervals. The split sample was then split down manually if required using a cone or riffle splitter to generate a sample of ~3kg. • 1m intervals were assayed with samples being prepared by Genalysis Laboratories in Adelaide. Each sample was pulverised to ~95% passing -75µm and the remaining pulp shipped to Genalysis Perth for analysis. • 2011 – 2012 drilling: • 1m bulk samples were collected during drilling with smaller split samples (3-4kg) for assay being collected primarily using a cone or riffle splitter directly off the rig. • Specific target intervals and/or samples exhibiting visible mineralisation were assayed at 1m intervals. All other sample intervals were composited (using spear sampling) to 4m intervals for assaying. On return of assay results, the 4m composite results were examined and any 4m composites returning an economic copper grade (>0.2%) were re-assayed using the original 1m samples (collected from original bulk sample using spear sampling to produce a representative 1.5kg to 3kg sample). • Samples were prepared by ALS Adelaide with each sample being riffle split to a maximum size of 3kg then pulverised split to 85% passing 75µm or better and then shipped to ALS Perth for assay. Diamond core 2004 – 2010 drilling: • Core samples were sawn in half using a diamond core saw. A small percentage of core samples were sawn in quarters. Sampling was undertaken at 1m intervals or to geological boundaries as determined by the supervising geologist. Half or quarter core samples were sent for assay and the remaining core kept in core trays for future reference. • Samples were prepared by Genalysis Laboratories in Adelaide using a jaw crusher to ~2mm. Each sample was then pulverised to ~95% passing -75 µm and the remaining pulp shipped to Genalysis Perth for assaying. Diamond core 2017 - 2023 drilling: • Core samples were sawn in half using a diamond core saw. A small percentage of core samples were sawn in quarters. Sampling was undertaken at 1m intervals or to geological boundaries as determined by the supervising geologist. Half or quarter core samples were sent for assay and the remaining core kept in core trays for future reference. • Samples were prepared by ALS Laboratories in Adelaide using a jaw crusher to ~2mm. Each sample was then pulverised to ~95% passing -75 µm and the remaining pulp shipped to ALS Perth for 4-acid digest ICP-MS assaying. Diamond core Underground Diamond Drilling: • The UG Diamond Drill Hole (DDH) sampling was conducted as per the Hillgrove Resources procedures and QAQC protocols. • Sample intervals from 1.25m to 0.25m as determined by geology through visibly mineralised zones. • Where samples are despatched to ALS the sample intervals are split from the drill core, with the drill core sawn in half with a diamond core saw and half-core sample crushed to 75% < 2mm by ALS’s Boyd Crusher • Where samples are assayed by the on-site XRF, the whole interval of drill core is crushed to 75% < 2m by Hillgrove’s Orbis OM100 Crusher ASX:HGO | Investor Presentation | April 2025 16 JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Drillhole Type Drilling Techniques Drill sample recovery Drill Date Diamond All RC 2004 & 2007 2011 & 2012 Drillhole Type Diamond Drill Date 2017 - 2024 Diamond (UG) 2021+ Bit Size HQ from surface to fresh, then NQ to end of hole 5.75” 4.5” % Oriented Orientation Method 97% Spear NA NA NA NA Bit Size HQ pre-collar from surface to 200m depth NQ from pre-collar to EOH Up to 12 wedges per parent hole NQ Drilled from UG % Oriented 97% Orientation Method ACE Tool RC Drilling: • Sample recovery or the occurrence of wet samples is not recorded in the drill hole database although communications with Exploration Personnel and field observations indicate that sample recovery or wet samples were rarely a problem. Diamond Core: • Diamond core recovery is recorded by Hillgrove Field Technicians during metre marking and orientation of all holes. Results demonstrate good recoveries with an average recovery rate of 99%. Core loss generally occurs in the upper sections of holes throughout the oxidised and transitional material. Core loss at depth is generally associated with a low Rock Quality Designation (RQD) value, suggesting the interval represents a shear or fault zone. ASX:HGO | Investor Presentation | April 2025 17 JORC Table 1 Section 1 Criteria Logging Sampling Techniques and Data Commentary • All drill core was logged for lithology, alteration, weathering and mineralisation by Hillgrove geologists in accordance with Hillgrove’s Core Logging Procedure. Colour and any additional qualitative comments are also recorded. • All diamond core trays were photographed before sampling and these photographs are stored on the Hillgrove server. • Both drill core and RC chip trays are stored on site in a core yard facility. • All geological logging is recorded into Geobank (a database product from Micromine) templates and visually validated before being imported into the Hillgrove drill hole database. Additional validation is conducted automatically on import. • In addition, a geotechnical log of all drill core is recorded utilising standard geotechnical logging indexes. RQD is 98-100%. UG drill core is not oriented. Where required, orientation of structure relative to the dominant S2 foliation is recorded. Sub-sampling • Selected Holes also have magnetic susceptibility readings at 1m intervals. RC holes techniques and sample • preparation Sub-sampling as described in the “Sampling Techniques” section above. Diamond holes • Sub-sampling as described in the “Sampling Techniques” section above. • Field Duplicates were collected via manual splitting of the bulk sample with a riffle or cone splitter if available or by spear sampling. All field duplicates for drilling from 2011 onwards were collected using spear sampling. Analysis of the field duplicate results indicates that this method of duplicate sample collection is satisfactory. • Hillgrove have detailed sampling and QAQC procedures in place to ensure sample collection is carried out to maximise representivity of the samples, minimise contamination and to maintain sample numbering integrity. ASX:HGO | Investor Presentation | April 2025 18 JORC Table 1 Section 1 Sampling Techniques and Data Criteria Commentary Quality of assay data • Pre 2011, all samples were submitted to Genalysis for analysis. Gold was determined by fire assay by flame AAS (FA50) and copper analysed via a mixed acid digest (method AT) with determination by Optical Emission Spectrometry (OES). If the copper result was greater than 1%, the analysis was repeated using a slightly modified mixed acid digestion technique (method AX). • Post 2011 samples were submitted to ALS Perth for assaying by four acid digest with Atomic Absorption Spectroscopy (AAS) and gold was analysed via fire assay and Atomic Absorption Spectroscopy (AAS). Approximately 20% of the total samples used for this estimation were assayed using a double acid aqua regia digest with an ICPOES finish (a method which does not guarantee complete dissolution of sample). A re-assay program was undertaken in 2011 which detected no bias between the results of the double acid aqua regia digest and the mixed acid digestion results. and laboratory tests • • The QAQC of sample preparation and analysis processes were via the following samples: Certified reference materials (CRMS) inserted into the sample sequence at a frequency of one in 20. Field duplicates inserted at a rate of one in every 20 samples. Blanks inserted at a rate of one in every 20 samples. Laboratory QAQC samples were inserted with a minimum of two standards and one blank for every batch of 40 samples. • Hillgrove‘s Quality policy is that at a minimum of 5% of all samples are CRM’s, 5% of samples submitted are blanks and 5% of samples submitted are field duplicates thus ensuring that as a minimum, 15% of all samples submitted for analysis are QAQC samples. • Results from all