Resolution Minerals Produces High-Grade Tungsten Concentrates from Golden Gate Stockpiles

Jane Morgan Management

Key Facts:

Initial test work on historical stockpiles at Horse Heaven Project produced high-grade tungsten concentrates of 52.3% WO₃, achieving up to 75.5% recovery
Results demonstrated a 19-times upgrade from original stockpile grade of 1.85% WO₃ using simple gravity separation methods
Additional 50kg sample undergoing shaker table processing tests, with results expected soon
Company advancing antimony and gold concentration studies while discussing opportunities with tungsten smelters and refiners
Phase 2 drilling programme of up to 13,700 metres planned for May 2026 to define mineralisation and support maiden Mineral Resource Estimate

Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF) has successfully produced high-grade tungsten concentrates of 52.3% WO₃ from historical stockpiles at its Horse Heaven Antimony-Tungsten-Gold Project in Idaho, USA, marking a significant step toward potential near-term processing opportunities.

The results were achieved through preliminary gravity separation test work conducted on stockpiled ore sourced from the historical Golden Gate Tungsten mine. The program delivered a substantial 19-times upgrade from the original stockpile grade of 1.85% WO₃, demonstrating the amenability of the material to simple, low-cost processing methods.

Strong Metallurgical Results Highlight Near-Term Opportunity

Heavy liquid separation (HLS) test work returned:

Concentrate grades of up to 52.3% WO₃
Recovery of up to 75.5%
A 19x upgrade factor relative to the head grade

The results confirm that tungsten-bearing minerals, predominantly scheelite, can be effectively concentrated using conventional gravity techniques. This supports the potential for short-term monetisation of historical stockpiles using relatively simple processing flowsheets.

Further Test Work Underway

Resolution has commenced additional metallurgical test work on a larger 50kg sample, which will undergo shaker table processing to refine concentrate quality. Results are expected in the coming weeks.

In parallel, the Company is advancing test work to assess concentration pathways for antimony and gold, with studies being conducted at IMO laboratories in Perth.

Discussions are also underway with tungsten smelters and refiners to evaluate downstream processing and offtake pathways.

Dr. Adam Roper, Resolution’s In-house Senior Metallurgist, stated:

“The initial results are encouraging for the short-term processing of the historical tungsten stockpiles via simple gravity methods. This is a great start and I’m looking forward to discussing the final results in the coming weeks, while discussions are underway with smelters and refiners.”

Strategic Context

The tungsten processing initiative forms part of Resolution’s broader strategy at its Horse Heaven Project, which includes recently acquired processing infrastructure and a major drilling campaign.

The Company is set to commence a Phase 2 drilling program in May 2026, targeting up to 13,700 metres (45,000 feet) of diamond drilling at Golden Gate and Golden Gate South. The program aims to define the scale of gold and tungsten mineralisation and support a maiden Mineral Resource Estimate.

Historical production from the broader district underscores the project’s strategic importance, with the region previously supplying a significant proportion of U.S. tungsten and antimony during World War II.

Background on Stockpile Material

The stockpiles were sampled in late 2025, with a composite sample of 93.6kg returning:

1.85% WO₃ tungsten grade
0.11 g/t gold
Low levels of deleterious elements

Mineralogical studies confirm scheelite as the dominant tungsten mineral, with quartz comprising the majority of the host material.

About us:

Resolution Minerals Ltd (ASX RML) is a mineral exploration company currently developing the Horse Heaven Gold-Antimony-Tungsten Project in Idaho, USA with the aim of providing an end-to-end solution for domestic critical minerals supply to US defense industry.

For further information, please contact:

Aharon Zaetz

Executive Director Resolution Minerals Ltd

M: +61 424 743 098

[email protected]

Contact details:

Jane Morgan - Investor Relations