Announcement PDF 1 of 3 3 MARCH 2026 LOWER PROSPECTIVITY TENEMENTS RELINQUISHED ▪ Off‑lease greenfield exploration underway in the Southeast, with a significant geophysical program completed in late 2025 to identify future drill targets. ▪ Off-lease greenfield drilling program is planned for Q2 2026 at the Kanappa prospect following the granting of regulatory approval ▪ More than 2,000 square kilometres (km2 ) of lower‑prospectivity tenements relinquished, sharpening focus on high‑priority targets across the remaining tenure. Hillgrove Resources Limited (Hillgrove, the Company) (ASX: HGO) advises that it has completed a prospectivity review of its South-Eastern Delamerian tenement package and has relinquished over 2,000 km2 of lower- prospectivity ground. This strategic rationalisation enables Hillgrove to concentrate exploration expenditure on the highest priority targets within its remaining tenements. Commenting on the latest exploration activities, Hillgrove CEO and Managing Director, Bob Fulker said: “The 2026 exploration program has a dual focus: extending the Kanmantoo Resources and testing highly prospective near greenfield targets. Both of these are important steps in our organic growth strategy to potentially utilise the spare mill capacity at the Kanmantoo Copper Mine.” During H2 2025, Hillgrove’s geological team completed a comprehensive prospectivity review of the South-Eastern tenement package. Following this assessment, the Company relinquished over 2,000 km2 of lower-prospectivity ground. In parallel to the relinquishment process, off-lease greenfield exploration in the Southeast commenced, with a significant geophysical program completed in late 2025. These targeting geophysical surveys including passive seismic, gravity, magnetics, and Induced Polarisation (IP). Results are currently pending and will be used to design drill targets, to allow the regulatory approvals to be sought for a drill campaign. These early programs are designed to test priority structural and geochemical targets and to refine the broader regional geological model. Works have commenced to seek regulatory approval for a drilling campaign at the Kanappa prospect, with drilling planned to commence in Q2 2026 once approval has been granted. The streamlined tenement position marks a shift from broad‑scale regional data collection to a more targeted exploration strategy, enabling Hillgrove to focus expenditure on the highest‑priority prospects within the remaining tenements. It also provides capacity to evaluate new exploration release areas across South Australia. 2 of 3 Figure 1: South Eastern Tenement Holdings, Relinquished areas highlighted in Magenta Authorised for release by the Board of Hillgrove Resources Limited. Engage with this announcement at the Hillgrove Resources Investor Hub. For more information contact: Mr Bob Fulker Mr Luke Anderson Chief Executive Officer & Managing Director Chief Financial Officer & Joint Company Secretary Tel: +61 (0)8 7070 1698 Tel: +61 (0)8 7070 1698 3 of 3 Forward Looking Statement This Report 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.