Mount Ridley Mines (ASX:MRD) further scandium re-assays extend Block 1 mineralisation in all directions

Mount Ridley Mines has reported further results from its Phase 1 scandium re-assay program covering 481 historical aircore pulp samples from the Grass Patch Complex in Western Australia.

The second tranche of results relates to drilling around the Block 1A and 1B Resource area and confirms scandium mineralisation beyond the current Mineral Resource Estimate boundary.

The results build on prior re-assay work announced on 11 June 2026 and relate to historical sample material re-analysed at ALS Perth using ICP-MS methods for scandium.

Highlights

• 481 historical aircore pulp samples re-assayed from the Grass Patch Complex
• Results relate to areas around Block 1A and 1B Resource
• Multiple intercepts reported above Block 1 average grade of 91.8 ppm Sc₂O₃
• Drillhole MRAC0977 returned 22m @ 134.09 ppm Sc₂O₃ from 33m
• Drillhole MRAC0962 returned 20m @ 119.02 ppm Sc₂O₃ from 18m
• Drillhole MRAC0965 returned 13m @ 117.34 ppm Sc₂O₃ from 13m
• Several intercepts reported as ending in mineralisation
• Mineralisation reported beyond current Resource boundaries in all directions

The Company reports that the re-assay program is based on historical aircore drilling completed within the Grass Patch Complex and focuses on re-analysing stored pulp samples.

A total of 481 samples were submitted to ALS Perth and analysed using ME-MS85 ICP-MS methods following standard preparation procedures including drying and pulverising.

Multiple drillholes returned intervals of scandium mineralisation above the current Block 1 average grade of 91.8 ppm Sc₂O₃.

These include MRAC0977 with 22m @ 134.09 ppm Sc₂O₃ from 33m, MRAC0962 with 20m @ 119.02 ppm Sc₂O₃ from 18m, MRAC0965 with 13m @ 117.34 ppm Sc₂O₃ from 13m, MRAC0971 with 18m @ 104.68 ppm Sc₂O₃ from 9m, MRAC0961 with 28m @ 97.65 ppm Sc₂O₃ from 12m and MRAC0981 with 41m @ 93.28 ppm Sc₂O₃ from 25m.

The Company reports that mineralisation occurs immediately outside the current Resource shell and that multiple intercepts occur in the north, south, east and west areas surrounding Block 1A and 1B, with several drillholes also reported to have ended in mineralisation.

Mount Ridley Managing director and chief executive Allister Caird stated:

“Following our 11 June announcement, which identified a new scandium zone and 13 kilometres of untested strike to the southwest of Block 1, this next tranche of Phase 1 re-assays has turned our focus back to the Block 1 Resource itself. Results confirm the mineralised system extends beyond the current Resource boundary on every side, with intercepts including 22 metres at 134.09 ppm Sc₂O₃ and 20 metres at 119.02 ppm Sc₂O₃, both well above the existing 91.8 ppm Sc₂O₃ Resource average.”

Mount Ridley advises that Phase 1 results from Block 1 will be incorporated into the resource model with the objective of supporting an update and potential upgrade to the current JORC 2012 Inferred Mineral Resource at the Grass Patch Complex.

It further states that Block 2 re-assay results have been received and are under internal review, and that Phase 2 of the scandium re-assay program is being scoped to cover additional historical pulp samples from an untested strike corridor.

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