Minrex Resources (ASX:MRR) reports high grade gold intercepts at Tlamino

Minrex Resources has reported maiden assay results from the first 10 diamond holes completed during its 2026 infill drilling program at the Barje deposit, part of the Tlamino Gold Silver Project in Serbia.

Highlights

• All 9 holes drilled within the resource envelope intersected gold and silver mineralisation as predicted by the geological model.

• BAR040 returned 11.4m at 1.09 g/t AuEq from surface and 10.6m at 4.04 g/t AuEq from 37.1m.

• BAR034 returned 4.7m at 6.86 g/t AuEq from 10m and 3.55m at 9.01 g/t AuEq from 63.7m.

• BAR033 returned 2.5m at 11.74 g/t AuEq from 29.4m.

• The 2026 drilling program has been expanded to approximately 9,000m across resource delineation and greenfield exploration.

• Assays from 14 holes are pending, with results expected in September.

The reported results cover the first 10 of 39 diamond holes from the company’s initial 3,200m infill program at Barje.

Holes BAR033 to BAR042 were positioned on a close spaced pattern within the existing Mineral Resource, with the objective of confirming grade continuity and improving classification confidence in the shallowest part of the deposit.

Every hole in the eastern zone, other than BAR039, returned significant gold and silver mineralisation.

BAR039 was designed to test the resource and fault boundary, while the intercepts in the remaining holes were encountered at or close to the depths and grades anticipated by the current geological model.

Additional results included 28.5m at 1.26 g/t AuEq from 26.5m in BAR036, including 12m at 1.9 g/t AuEq from 39.5m.

BAR041 returned 12.8m at 2.43 g/t AuEq from 32.4m and 5.5m at 2.15 g/t AuEq from 45.9m, including 2.2m at 3.21 g/t AuEq from 48m.

BAR042 returned 4.7m at 3.69 g/t AuEq from 73.5m and 11.3m at 1.69 g/t AuEq from 81.4m.

BAR037 recorded 14.2m at 1.32 g/t AuEq from 42.8m, followed by 9m at 0.88 g/t AuEq from 60m and 11m at 1.22 g/t AuEq from 81.9m.

The majority of the reported mineralisation lies within 60 vertical metres of the drill collars and, in several holes, begins within the first few metres of drilling, while in the eastern area, the mineralised body outcrops and remains comparatively narrow in cross section.

Previous drilling has been interpreted to show that the mineralised horizon thickens progressively as it dips away from surface towards the west south west.

Barje has a foreign Inferred Mineral Resource estimate of 7.1Mt at 2.9 g/t AuEq for 670,000oz, reported in accordance with NI 43 101.

The estimate includes 3.2Mt at 4.7 g/t AuEq for 470,000oz within the high grade breccia, 2.4Mt at 1.2 g/t AuEq for 96,000oz within the low grade schist and 1.5Mt at 2.1 g/t AuEq for 100,000oz within the partially oxidised material.

A Competent Person has not done sufficient work to classify the foreign estimate as a Mineral Resource in accordance with the JORC Code.

It is uncertain whether further evaluation and exploration will result in an estimate reportable under the JORC Code.

Minrex Chief Executive Officer Max Piirto said:

“Alongside this we have awarded the Environmental Baseline Study and started the permitting clock.”

The study is expected to take approximately 14 months, with initial work covering surface water, sediment and groundwater sampling, biodiversity surveys and air quality monitoring.

Sampling programs and analytical protocols have been designed to satisfy Serbian regulatory requirements and align with international standards.

At Karamanica, geological mapping, surface geochemistry and a structured review of historical results are underway.

The objective is to consolidate these datasets into a ranked, drill ready target set, positioning Karamanica to enter the drilling program in 2027 alongside continued activity at Barje, the Barje Liska corridor and the Timok East Copper Gold Project.

Of the approximately 9,000 m program, results from 8 infill diamond holes and 31 exploration diamond and reverse circulation holes remain outstanding and are scheduled to be released throughout the remainder of 2026.

AuEq grades are based on gold at US$3,300/oz, silver at US$45/oz and overall metallurgical recoveries of 84% for both metals, using the formula AuEq g/t = Au g/t + 0.0136 × Ag g/t.

Minrex stated that all elements included in the calculation have reasonable potential to be recovered and sold.

The exploration results and foreign Mineral Resource information were reported by Minrex Resources in its ASX announcement dated 26 August 2026.

The foreign estimate was reported in accordance with NI 43 101 by Electrum, formerly Medgold Resources Corp., and filed on SEDAR on 7 January 2021.