[Ferro-Alloys.com] BCA: Shallow, thick and high-grade Manganese continues across the Wandanya Discovery

• Assay results from manganese targeted drilling at Wandanya confirm consistent shallow, thick and high-grade mineralisation strikingly similar to W2 discovery located almost 2km to the south.

• Significant Phase 2 drill assay results include: o 6m @ 35.0% Mn from surface including 3m @ 42.1% Mn from 3m (WDRC095)

o 7m @ 29.7% Mn from surface including 3m @ 42.4% Mn from 4m (WDRC096)

o 8m @ 28.5% Mn from surface including 3m @ 43.2% Mn from 4m (WDRC097)

o 8m @ 28.4% Mn from 2m including 3m @ 38.5% Mn from 7m (WDRC037)

o 5m @ 28.7% Mn from 9m including 2m @ 43.5% Mn from 11m (WDRC041)

o 6m @ 28.4% Mn from surface including 2m @ 41.9% Mn from 4m (WDRC106)

o 6m @ 29.2% Mn from surface including 3m @ 43.1% Mn from 3m (WDRC107)

o 5m @ 29.3% Mn from surface including 2m @ 45.8% Mn from 3m (WDRC113)

• The latest results are located 350m south of previously fast-tracked reported intersections1: o 8m @ 31.1% Mn from 5m including 3m @ 41%Mn from 10m (WDRC063)

o 4m @ 29.8% Mn from 12m (WDRC069)

• The latest results demonstrate manganese mineralisation continues at least 2km north of the original W2 discovery with cross strike widths ranging between 250m and 450m, remaining open to the north and east.

• Further assays from the remaining 47 drillholes targeting high-grade iron and manganese are expected to be finalised by the end of August 2025.

• Phase 3 RC drilling to extend and further delineate the manganese and iron discoveries along a total strike of 3km and up to 800m cross width to commence mid-August 2025.

Australian manganese explorer and developer, Black Canyon Limited (Black Canyon or the Company) (ASX: BCA) is pleased to announce assay results from manganese targeted samples as part of the Phase 2 RC drilling1 program at Wandanya, WA. The results confirm the scale potential of the Wandanya Project (BCA 100%) with consistent thickness, grade and geology of the shallow stratabound manganese mineralisation continuing over at least a 2km strike.

Black Canyon’s Managing Director Brendan Cummins said:

“The latest batch of assay results from the manganese targeted drill holes continue to demonstrate the significant potential of the Wandanya discovery for the Company and its shareholders.

“The stratabound manganese mineralisation discovered is both shallow and exceptionally consistent in grade and thickness, which is unique to the region and timely in terms of delivering a potential future supply of high-grade manganese oxide from Australia.

“I think it’s fair to say that over the past 50 years only three significant manganese deposits have been discovered in Australia, being Groote Eylandt, Woodie Woodie and Bootu Creek, which have all been successfully brought into production.

“Whilst it’s early days for Wandanya, the results received from our initial drill programs provide much confidence that we have discovered a significant mineral system with many of the attributes such as grade, scale, thin overburden and the ability to produce a high-quality manganese concentrate required for a potential mine development.”

“We look forward to receiving more Phase 2 RC manganese results along with the high-grade iron results over the next few weeks. Phase 3 drilling, to continue defining the extents of the Wandanya manganese and iron discoveries, is planned to commence in mid-August.”

Manganese Assay Results

The Phase 2 RC drill program completed at Wandanya totalled 101 holes for 2,300m of drilling with drill line spacing ranging between 100m and up to 350m, and hole centres at 40m. Assay results and associated quality control/assurance (QAQC) data has been received and approved for holes WDRC037 to WDRC043, and WDRC072 to WDRC114, which are primarily manganese targeted drill holes (final results for the remaining 47 drillholes are expected by the end of August).

The reported holes are located within the southern area of the Northern Manganese Corridor and confirm mineralisation along strike between 350m to 400m with cross width manganese mineralisation between 150m and 250m and open to the east. The latest assay results are located approximately 1,750m from the original Wandanya – W2 discovery and 350m south of previously reported1 intersections that include:

• 8m @ 31.1% Mn from 5m including 3m @ 41%Mn from 10m (WDRC063)

• 4m @ 29.8% Mn from 12m (WDRC069)

In summary, the combined drill assay results demonstrate manganese mineralisation along 2km of strike with widths ranging between 150m and 450m. The average thickness of the reported drill intersects is approximately 5m with a consistent high-grade footwall of ~40% Mn and a lower grade hangingwall grade of ~20% Mn with an average drill intersect grade of approximately 29% Mn. The geology is shallowly dipping to the east, and the mineralisation remains open on multiple drill lines.

Cross-sections and drill plans are presented in Figures 1-4. Significant manganese assay results are presented in Table 1 and all assay results are presented in Appendix 2.

Table 1. Significant assay results from the June 2025 Phase 2 drill program.

Metallurgical testwork2,3 completed on W2 stratabound manganese mineralisation has shown composite samples averaging 30% Mn can be bene?ciated using density-based separation which achieved a 45% Mn product grade exceeding the premium 44% Mn benchmark grade (Table 2).

Table 2. Heavy Liquid Separation (HLS) testwork results from the W2 moderate and high-grade composites2&3.

Next Steps

Remaining assay results for both manganese and iron are expected by the end of August.

Phase 3 RC drilling is set to commence in mid-August with a planned program of 3,500m to extend the current drill coverage to the north and in?ll the current drill line to test the entire 3km of mapped manganese and iron mineralisation.

• [Editor:tianyawei]