High Grade Rock Chip Assays Confirm Major Gold Potential

Administrative Office 3 Richardson Street, West Perth WA 6005 | Contact Number +61 8 6319 1900
Postal Address PO Box 1976, West Perth WA 6872 | admin@uvre.com.au | www.uvre.com.au

4 November 2025

High-grade rock chip assays confirm
major potential of NZ gold projects

New rock chip results of up to 11g/t Au at Scotia confirm the significant potential of the
Waitekauri Gold Project, located adjacent to OceanaGold’s major Waihi Gold mine; Rock
chip assay up to 12g/t Au returned from the brownfields Oturehua Gold Project in Otago

UVA’s maiden drilling program progressing well at the flagship Waitekauri Gold Project,
with the first hole at Scotia South drilling ahead at +200m towards its total depth, with
the second hole to commence later this week at the Scotia gold prospect

Highlights
• Strong rock chip assays returned from recent field sampling at the brownfields
Scotia and Oturehua gold projects in New Zealand, including:
o 11g/t Au from the near the Scotia gold prospect at Waitekauri, located in
the Haruaki Goldfield on NZ’s North Island; and
o 12.1g/t Au from the Oturehua Gold Project located in the Otago Goldfields
on NZ’s South Island
• Waitekauri is Uvre’s flagship gold project, with the priority gold targets located
only 8km west of OceanaGold Corporation’s Waihi gold mine (+12Moz Au) and in
the centre of a strongly mineralised corridor hosting four +1Moz gold deposits
• Drilling continues at +200m on the first hole at the Scotia South gold prospect
at Waitekauri (PDH 9), which is targeting an interpreted structure with multiple
occurrences of epithermal quartz at surface
• Drilling at the historic Scotia gold prospect (PDH 8), a planned 250m diamond
hole, is expected to commence later this week to drill test the depth extensions
of the known mineralised zones beneath the historic gold workings
• Oturehua is a brownfields gold project in the Otago Goldfields on the South Island
• Uvre is well-funded to fast-track priority exploration programs with ~$5.4m cash
• Priority to accelerate exploration programs at its flagship Waitekauri Gold project,
and its Oturehua and Invincible brownfields gold projects in the Otago Goldfields
Uvre Limited (ASX:UVA, NZX:UVA) is pleased to report new exploration results from its
100 per cent-owned New Zealand gold projects at Waitekauri and Oturehua, and a
drilling update from its maiden drilling program at its flagship Waitekauri Gold Project.

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These new results include highly promising assays from rock chips taken at Uvre’s
brownfields Waitekauri epithermal gold project in the prolific Haruaki Goldfields on NZ’s
North Island, with an 11g/t Au assay result returned from rock chips taken near the
Scotia prospect historic gold workings.
Rock chips from the Oturehua brownfields orogenic gold project in the Otago Goldfields
have also returned strong assays of up to 12.1g/t Au, confirming its prospectivity.
The Company’s flagship brownfields Waitekauri Gold Project is located in the middle of
the northeast/southwest structural trend that hosts numerous multi-million-ounce
deposits including OceanaGold’s WKP (2.2m oz @ 14g/t Au) and Golden Cross deposits.
Uvre Executive Chairman Brett Mitchell said: “These are strong rock chip assay results
which highlight the significant exploration potential of these brownfields gold projects.
“These projects sit among well-established mineralised systems, with drilling continuing
at the Scotia South epithermal gold prospect before moving to Scotia later this week.
“The results confirm the presence of high-grade mineralisation at both projects and
confirms the strategy in place for the priority drilling program that is now underway.”

Figure 1: Location of Uvre’s NZ Gold Projects

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Waitekauri Drilling Program Update – Hole 1, Scotia South Drilling Ahead at +200m
Uvre commenced its maiden exploration drilling program at its flagship Waitekauri Gold
Project on 11 October 2025, with the first hole targeting a previously untested structure
with abundant epithermal quartz on surface at Scotia South (PDH 8). The diamond
drilling at Scotia South has progressed well, averaging approximately 12m per shift/day
(in line with pre-drill expectations) and drilling ahead at 205m as of 3 November 2025.
The diamond rig is expected to complete PDH 8 in the coming days. The rig will then
move to drill PDH 9 at the historic Scotia gold prospect to drill test the depth extensions
of the known mineralised zones beneath the historic gold workings, with a planned total
depth of 250m for the Scotia PDH 9 hole.

Figure 2: Location Scotia South (PDH 8) and Scotia (PDH 9) planned drillholes

Waitekauri Gold Project Overview
The Waitekauri Gold Project covers 58km
2
in the Hauraki goldfield. The Waitekauri
tenement eastern boundary is located only 1km west of OceanaGold Corporation’s
(OceanaGold) Waihi gold mine
1
. The Waitekauri project area displays the hallmarks of a
major goldfield in a region with a compelling mineral resource endowment, is located in
the middle of the northeast/southwest structural trend that hosts numerous multi-
million ounce Au-Ag deposits including OceanaGold’s WKP and Golden Cross deposits,
and includes New Talisman’s Karangahake gold mine.


1
https://oceanagold.com/operation/waihi/, https://oceanagold.com/operation/resources-and-
reserves/

Page 4 of 11
The Waitekauri Gold Project is within an 18km long mineralised corridor hosting multiple
targets and historical workings and holds three high priority prospects for gold
exploration based on their historical gold production profile: Jubilee, Scotia and
Sovereign.
Uvre will be targeting bonanza style Au-Ag low sulphidation veins with the objective to
identify a multi-million-ounce resource. The recent discovery by OceanaGold in 2017 of
the WKP deposit along the northeastern trend of 2Moz @ 14.3g/t Au and 3.1Moz Ag
2

supports the view that the area is highly prospective for gold.

Material new rock chip results – Scotia, Waitekauri and Golden Progress, Oturehua
Recent sampling at the Scotia prospect at the Waitekauri Gold Project confirmed the
presence of further high-grade gold mineralisation at surface in an area previously
untested by Uvre.

Scotia Central sample no. 387078 (11g/t Au) was collected from an approximately 50cm
float fragment of banded epithermal quartz. Sample no. 387105 (0.94g/t Au) was taken
from an oxidized volcanic breccia outcrop, while sample no. 387108 (9.72g/t Au) was
collected from a NE- SW trending boulder trail that may represent a new mineralised
structure in the northern part of the Scotia prospect.


Figure 3: Map showing location of rock chip samples at Waitekauri collected to date

At the brownfields Oturehua gold project located in the Otago Goldfields, new rock chip
samples have returned outstanding results of up to 12.1g/t Au around the historic Golden
Progress Gold Mine (see table below). Sampling supports the hypothesis that sulphide-
rich ore, although high grade, was metallurgically too complex for historical processing
methods. Historical miners reportedly focused only on high-grade supergene-enriched
portions of the veins where gold could be easily recovered using simple gravity methods.

2
https://oceanagold.com/operation/resources-and-reserves/

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Furthermore, lower-grade samples no. 387087 and 387089 consist of brecciated and
pyritized schist rather than mineralised quartz vein material. These results may indicate
the presence of a lower-grade mineralised halo within the altered host rock surrounding
the veins.


Figure 4: Rock chip samples collected at Oturehua’s Golden Progress Mine to date
Sample
ID
Gold
g/t
Silver
g/t
Arsenic
g/t
387085 12.1 0.6 4810
387086 7.64 0.3 1040
387087 1.18 0.1 2640
387088 2.51 0.1 3160
387089 2.53 <0.1 6950
Table 1: Summary of significant rock chip results from Oturehua reported in this release
Hauraki Goldfield – Gold Rich Mineralised Province
Hauraki is a world-class goldfield located in the Waikato region of New Zealand which
hosts significant high-grade silver and gold deposits. It has been home to more than 50
epithermal mines since the 1860s, producing +15Moz of gold and 60Moz of silver.
The region shares many key characteristics with Kalgoorlie, being home to extensive
mineralised systems and many exploration and mining projects since 1862. The region
also offers access to well-established infrastructure and a skilled workforce. Mining is
the driving force of the local economy and is at the centre of the social fabric.

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Oturehua Gold Project – Historic Golden Progress Mine
The Oturehua Gold Project is a 32.4km
2
exploration permit located on privately owned
farmland. Gold in quartz-arsenopyrite-pyrite veins was initially discovered at the
Oturehua Gold Project in 1868 and mined until 1936. At the Golden Progress Mine
historical production is estimated at 15-20koz @ 48.8g/t Au and is located 20km South-
East from Santana Minerals (ASX-SMI) 2.2Moz @ 2.3g/t Au Bendigo-Ophir deposit and
50km North-West from Oceana Gold’s Macraes, a >10Moz gold producer.
Near surface, the supergene enriched part of the system with free gold was the subject
of the historical mining. Primary mineralisation was mined to a limited extent with no
processing possible in the 1930s with water pumping and manning issues combining to
cease mining of open down dip zones. Void model and open mineralised zones are being
modelled at present for drill targeting.
Oturehua Gold Project’s historic Golden Progress Mine will be the immediate focus of
the Company’s gold exploration programs for its NZ South Island projects.
Uvre has now completed initial exploration programs at the Oturehua Gold Project and
rock chip samples collected at the dumps of historical mine confirmed the high-grade
nature of the system, returning 12.1g/t Au
3
as set out above.
The next phase exploration activities are now planned to commence at Oturehua’s
Golden Progress historic gold mine in late November/early December 2025, ahead of a
maiden drilling program in H1 2026.

Figure 5: Uvre’s Roaring Meg, Oturehua and Invincible Gold Projects, within the Otago
Goldfields/Otago Schist

3
See ASX announcement dated 27 June 2025.

Page 7 of 11
This announcement has been authorised by the Board of Uvre Limited.

For enquiries contact:
Brett Mitchell Paul Armstrong
Executive Chairman Read Corporate
+61 8 6319 1900 +61 8 9388 1474
brett@uvre.com.au

About Uvre Ltd – NZ Gold Focused Explorer
Uvre is implementing an aggressive brownfields exploration strategy at its portfolio of
New Zealand gold assets. These assets host known high-grade mineralisation from
historical production and exploration activities, are located in the historical Hauraki and
Otago Goldfields and sit close to major deposits. The Company is led by Directors and
Management with an outstanding track record of exploration success and value creation
and is dual-listed on the ASX and NZX.

Competent Person’s Statement
The information in this Report that relates to Exploration Results is based on
information compiled by Mr Jason Beckton, who is a Member of the Australian Institute
of Geoscientists. Mr Beckton, who is Director of Otagold, has sufficient experience
which is relevant to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking 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’. Mr Beckton consents to the inclusion in this Report of
the matters based on the information in the form and context in which it appears.
The Company confirms that it is not aware of any new information or data that
materially affects the Exploration Results information included in this report from
previous Company announcements announced to the ASX on 19 May 2025, 27 June 2025
and 1 September 2025.

Page 8 of 11
JORC Code, 2012 Edition – Table 1 Waitekauri and Oturehua, New Zealand
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling
techniques
Nature and quality of sampling (eg cut
channels, random chips, or specific specialised
industry standard measurement tools
appropriate to the minerals investigation, such
as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not
be taken as limiting the broad meaning of
sampling.
Include reference to measures taken to ensure
sample representivity and the appropriate
calibration of any measurement tools or
systems used.
Aspects of the determination of mineralisation
that are Material to the Public Report.
In cases where ‘industry standard’ work has
been done this would be relatively simple (eg
‘reverse circulation drilling was used to obtain
1 m samples from which 3 kg was pulverised
to produce a 30 g charge for fire assay’). In
other cases more explanation may be
required, such as where there is coarse gold
that has inherent sampling problems. Unusual
commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of
detailed information.
• Rock chip outcrop and float samples collected by
hand using a geological hammer or geological pick
into industry standard, individually numbered
sample bags.
• Industry standard channel samples of outcropping
quartz veins were collected orthogonal to the
direction of strike to ensure that each sample was
representative of the target horizon at each
location point and that no sampling bias was
introduced to the process.
• Grab samples were taken from mineralised float.


Drilling
techniques
Drill type (eg core, reverse circulation, open-
hole hammer, rotary air blast, auger, Bangka,
sonic, etc) and details (eg core diameter, triple
or standard tube, depth of diamond tails,
face-sampling bit or other type, whether core
is oriented and if so, by what method, etc).

• N/A - No drilling reported.
Drill sample
recovery
Method of recording and assessing core and
chip sample recoveries and results assessed.
Measures taken to maximise sample recovery
and ensure representative nature of the
samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias
may have occurred due to preferential
loss/gain of fine/coarse material.
• N/A - No drilling reported.
Logging
Whether core and chip samples have been
geologically and geotechnically logged to a
level of detail to support appropriate Mineral
Resource estimation, mining studies and
metallurgical studies.
Whether logging is qualitative or quantitative
in nature. Core (or costean, channel, etc)
photography.
The total length and percentage of the
relevant intersections logged.
• N/A - No drilling reported.
Sub-sampling
techniques and
sample
preparation
If core, whether cut or sawn and whether
quarter, half or all core taken.
If non-core, whether riffled, tube sampled,
rotary split, etc and whether sampled wet or
dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
Quality control procedures adopted for all
sub-sampling stages to maximise
representivity of samples.
Measures taken to ensure that the sampling is
representative of the in situ material
collected, including for instance results for
field duplicate/second-half sampling.
Whether sample sizes are appropriate to the
grain size of the material being sampled.
• N/A - No drilling reported.

Page 9 of 11
Quality of
assay data and
laboratory
tests
The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
For geophysical tools, spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the analysis
including instrument make and model, reading
times, calibrations factors applied and their
derivation, etc.
Nature of quality control procedures adopted
(eg standards, blanks, duplicates, external
laboratory checks) and whether acceptable
levels of accuracy (ie lack of bias) and
precision have been established.
• Assays were carried out by SGS Waihi, an
internationally certified laboratory. Au was assayed
by fire assay (FA505), other elements by ICP
(IMS90Q). Ag over 100ppm was assayed by AAS15Q.
• Laboratory QA/QC involves the use of internal lab
standards using certified reference material,
blanks, splits and replicates as part of the in-
house procedures. QC results (blanks, duplicates,
standards) were in line with commercial
procedures, reproducibility and accuracy.

Verification of
sampling and
assaying
The verification of significant intersections by
either independent or alternative company
personnel. This is historic data and will be
compared to modern sampling in 2024.
The use of twinned holes.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
Discuss any adjustment to assay data.

• No umpire analysis has been performed.
• N/A - No drilling reported.
• Field data is captured digitally and in field note
books by hand to ensure a back up of information.
Location of
data points
Accuracy and quality of surveys used to locate
drill holes (collar and down-hole surveys),
trenches, mine workings and other locations
used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
• Sampling locations were determined by iPhone 13
with accuracy +/- 5m in WGS UTM 60S grid
(EPSG:32760) for Waitekauri permit and WGS UTM
59S and 60S (EPSG:32759) for Oturehua permit.
Coordinates were transformed to NZGD 2000
(EPSG:2193) using QGIS open source GIS software
transformation.
• Sample location points are considered to be of
sufficient accuracy given the reconnaissance
nature of the exploration being undertaken.
Data spacing
and
distribution
Data spacing for reporting of Exploration
Results.
Whether the data spacing and distribution is
sufficient to establish the degree of geological
and grade continuity appropriate for the
Mineral Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Whether sample compositing has been
applied.
• N/A – no drilling or resource estimate reported.
• Rock chip samples were collected at random
spacing where outcrop was available or a
mineralised float was found.
• Rock chip sampling will not be used in resource
estimation.
Orientation of
data in relation
to geological
structure
Whether the orientation of sampling achieves
unbiased sampling of possible structures and
the extent to which this is known, considering
the deposit type.
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to have
introduced a sampling bias, this should be
assessed and reported if material.
• Sampling of identified vein material collected as
channel samples across strike over the full vein
width where exposed to ensure that no bias is
introduced and that each sample is as
representative as possible.

Sample
security
The measures taken to ensure sample
security.
• Samples were collected by Otagold personnel and
consulting geologist, bagged and immediately
delivered to the laboratory in person.
Audits or
reviews
The results of any audits or reviews of
sampling techniques and data.
• No audits or reviews of the data management
system have been carried out.
Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral
tenement and
land tenure
status
Type, reference name/number, location and
ownership including agreements or material
issues with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a license to operate in the area.
• Uvre Limited has aqcquired 100% interest in
Otagold Ltd, a company incorporated in New
Zealand.
The laws of New Zealand relating to exploration
and mining have various requirements. As the
exploration advances specific filings and
environmental or other studies may be required.
There are ongoing requirements under New
Zealand mining laws that will be required at
each stage of advancement. Those filings and
studies are maintained and updated as required
by Uvre’s environmental and permit advisors

Page 10 of 11
specifically engaged for such purposes.
• The Company is the manager of operations in
accordance with generally accepted mining
industry standards and practices.
Exploration
done by other
parties
Acknowledgment and appraisal of exploration by
other parties.
• The areas discussed have been mapped,
geochemically sampled (not reported) and
several geophysical surveys were carried out
over the area. The areas were drilled by previous
operators.
Geology
Deposit type, geological setting and style of
mineralisation.
• Epithermal gold-silver (base metal)
mineralisation in a volcanic rocks at Waitekauri
and orogenic vein type gold mineralisation at
Oturehua.
Drill hole
Information
A summary of all information material to the
understanding of the exploration results
including a tabulation of the following
information for all Material drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level – elevation above
sea level in metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on
the basis that the information is not Material
and this exclusion does not detract from the
understanding of the report, the Competent
Person should clearly explain why this is the
case.
• N/A – No drilling reported.

Data
aggregation
methods
In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (eg cutting of high
grades) and cut-off grades are usually
Material and should be stated.
Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths
of low grade results, the procedure used for
such aggregation should be stated and some
typical examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of metal
equivalent values should be clearly stated.
• N/A – No drilling reported.

Relationship
between
mineralisation
widths and
intercept
lengths
These relationships are particularly important in
the reporting of Exploration Results.
If the geometry of the mineralisation with
respect to the drill hole angle is known, its
nature should be reported.
If it is not known and only the down hole lengths
are reported, there should be a clear statement
to this effect (eg ‘down hole length, true width
not known’).
• N/A – No drilling reported.
Diagrams
Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for
any significant discovery being reported These
should include, but not be limited to a plan view
of drill hole collar locations and appropriate
sectional views.
• The location and results received for surface
samples are displayed in the attached maps
and/or tables.

Balanced
reporting
Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and high
grades and/or widths should be practiced to
avoid misleading reporting of Exploration
Results.
• Results for all samples collected are displayed
on the attached maps and/or tables.
Other
substantive
exploration
data
Other exploration data, if meaningful and
material, should be reported including (but not
limited to): geological observations; geophysical
survey results; geochemical survey results; bulk
samples – size and method of treatment;
metallurgical test results; bulk density,
groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
• No metallurgical or bulk density tests were
conducted at the project by Otagold.

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Further work
The nature and scale of planned further work
(eg tests for lateral extensions or depth
extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of
possible extensions, including the main
geological interpretations and future drilling
areas, provided this information is not
commercially sensitive.
• Otagold may carry out drilling and additional
systematic sampling of selected structures.

Appendix Two – Rock Chip Samples Identification and Location Table
Table 1. Rock Chip Sample Identification and Location referenced in this announcement.
Sample ID Project Easting Northing Grid Au
(ppm)
Ag
(ppm)
Sample
Type
387075 Waitekauri 391160 5861918 UTM 60S 0.15 0.5 float
387076 Waitekauri 391157 5861925 UTM 60S 0.04 0.5 float
387077 Waitekauri 391155 5861926 UTM 60S 0.02 0.2 float
387078 Waitekauri 391069 5862012 UTM 60S 11 7.5 float
387079 Waitekauri 391032 5862056 UTM 60S <0.01 0.2 float
387080 Waitekauri 391089 5862042 UTM 60S 0.61 0.8 float
387081 Waitekauri 391022 5862035 UTM 60S 2.43 3.3 float
387082 Waitekauri 391014 5862035 UTM 60S 3.3 30.7 float
387083 Waitekauri 391007 5862018 UTM 60S 0.33 0.3 float
387084 Waitekauri 391069 5862012 UTM 60S 0.19 0.4 float
387085 Oturehua 416022 5016088 UTM 59S 12.1 0.6 mullock
387086 Oturehua 416022 5016088 UTM 59S 7.64 0.3 mullock
387087 Oturehua 416022 5016088 UTM 59S 1.18 0.1 mullock
387088 Oturehua 416022 5016088 UTM 59S 2.51 0.1 mullock
387089 Oturehua 416022 5016088 UTM 59S 2.53 <0.1 mullock
387093 Waitekauri 391140 5861708 UTM 60S 1.89 >100 float
387094 Oturehua 421408 5820879 UTM 59S 0.01 <0.1 float
387095 Waitekauri 390972 5861627 UTM 60S 0.04 0.1 float
387096 Waitekauri 390972 5861627 UTM 60S <0.01 <0.1 float
387097 Waitekauri 390972 5861627 UTM 60S 0.02 0.2 float
387098 Waitekauri 390972 5861627 UTM 60S <0.01 <0.1 float
387099 Waitekauri 391300 5861914 UTM 60S <0.01 <0.1 float
387100 Waitekauri 391277 5861915 UTM 60S 0.51 0.3 float
387101 Waitekauri 391127 5861946 UTM 60S 0.02 0.1 float
387102 Waitekauri 391288 5861894 UTM 60S 0.38 0.2 float
387103 Waitekauri 391299 5861931 UTM 60S <0.01 <0.1 float
387104 Waitekauri 391299 5861931 UTM 60S <0.01 <0.1 float
387105 Waitekauri 391397 5862309 UTM 60S 0.94 4 outcrop
387106 Waitekauri 391382 5862297 UTM 60S 0.03 0.4 float
387107 Waitekauri 391360 5862262 UTM 60S 0.25 0.5 float
387108 Waitekauri 391355 5862257 UTM 60S 9.72 10.6 float

END.