Kuniko Ltd Commonwealth Project Results Confirm Massive Sulphide Continuity

Commonwealth Main Shaft Delivers Consistency and Scale

The first two diamond holes at Commonwealth Main Shaft have delivered exceptional continuity results, with both holes intersecting substantial zones of massive to semi-massive sulphide mineralisation. These impressive Kuniko Ltd Commonwealth Project results validate the company's strategic approach to systematically exploring this high-potential VMS system.

Furthermore, the intersections include:

• Hole CMKNI001: 3.7m of massive sulphide (85% sulphides) within a broader 47.3m interval of disseminated and stringer sulphide mineralisation
• Hole CMKNI002: 2.9m of massive sulphide (70% sulphides) within a broader 41.9m interval of disseminated and stringer sulphide mineralisation

These intersections are particularly significant as they represent successful down-plunge step-outs from existing massive sulphide zones, confirming the continuity of the Main Shaft massive sulphide lens. The mineralisation comprises thick accumulations of pyrite with interlayers of up to 20% sphalerite and 5% galena, with lesser chalcopyrite – a mineral assemblage characteristic of high-quality VMS deposits.

Managing Director Commentary

"We are very encouraged by the early results from the Phase 1 drilling programme at the Commonwealth Project. The first three diamond holes have intersected significant zones of semi-massive and massive base metal sulphide mineralisation, confirming the continuity and scale of the system." – Managing Director Maja McGuire

Silica Hill Reveals High-Grade Silver Potential

The third hole (CMKNI003) at neighbouring Silica Hill targeted down-dip and along-strike extensions to previously identified high-grade mineralisation, delivering approximately 60m of disseminated and stringer sulphide mineralisation. Most notably, the hole intersected visible "ruby-red" silver sulphosalts, interpreted to include proustite – a high-grade silver mineral.

The mineralisation comprises pyrite-arsenopyrite veins up to 40cm thick, hosted within strongly sulphidised rhyolite. In addition, the surrounding wall rock contains up to 10% disseminated pyrite and arsenopyrite. This represents a 15m step-out from historical hole CMIPT043, which returned 68m @ 0.5 g/t Au and 43 g/t Ag.

Understanding VMS-Epithermal Systems: A Geological Primer

Volcanogenic Massive Sulphide (VMS) deposits represent some of the world's most valuable polymetallic ore systems. These deposits form when metal-rich hydrothermal fluids precipitate sulphide minerals on or near the seafloor in ancient volcanic environments. When combined with epithermal characteristics (shallow, hot spring-style mineralisation), these hybrid systems can host exceptional precious metal grades.

Key characteristics of VMS-epithermal systems include:

• Multi-metal potential: These systems often contain gold, silver, copper, zinc, and lead in economic concentrations
• High-grade zones: Massive sulphide lenses provide bulk tonnage potential with concentrated metal values
• Geological continuity: Systematic mineral zoning reduces exploration risk and supports resource expansion
• Processing advantages: Similar mineral assemblages allow for conventional metallurgical treatment methods

Why This Matters to Investors:

VMS-epithermal hybrid systems often contain multiple valuable metals (gold, silver, copper, zinc, lead). Furthermore, high-grade massive sulphide zones provide bulk tonnage potential, whilst the Lachlan Fold Belt setting hosts world-class deposits like Cadia-Ridgeway and North Parkes. Consequently, geological continuity reduces exploration risk and supports resource expansion.

Accelerated Development Timeline and Strategic Positioning

The drilling programme is progressing ahead of schedule, with completion expected within two weeks. Moreover, assay results are anticipated in April, providing crucial validation of the Kuniko Ltd Commonwealth Project results observed in drilling. Importantly, Kuniko is accelerating its Phase II drilling campaign in parallel with Phase I, leveraging recent Mobile MT survey results to define high-priority regional targets.

Next Steps and Value Catalysts:

1. Complete remaining Phase I holes targeting:

   • Northern Lode structure at Silica Hill
   • Untested IP anomaly at Commonwealth South
   • Down-plunge extensions where previous drilling returned 8m @ 5 g/t Au

2. Phase II drilling programme focused on:

   • Resource validation and expansion at Commonwealth-Silica Hill
   • Testing newly defined Mobile MT targets across the district

3. Regional target development at Gladstone West and Geenobby prospects

Strong Financial Position Funds Aggressive Exploration

The company has secured $3.75 million in placement funding, providing sufficient capital to execute both the immediate Phase II drilling and advance the growing pipeline of district-scale targets. This positions Kuniko for sustained exploration activity across multiple fronts without near-term funding constraints.

Investment Thesis: Multi-Catalyst Growth Story

The Commonwealth Project drilling results reinforce several key investment themes, with the Kuniko Ltd Commonwealth Project results demonstrating significant value creation potential across multiple fronts.

Geological Validation: The successful step-out drilling confirms both continuity and expansion potential of the known massive sulphide system. Consequently, this reduces geological risk whilst demonstrating scale potential.

District-Scale Opportunity: With multiple untested targets across the broader project area and systematic exploration programmes advancing, Kuniko is positioned to make additional discoveries. Furthermore, these discoveries extend beyond the current resource areas.

Tier-1 Location Advantage: The project's location within the Lachlan Fold Belt provides excellent infrastructure access, established mining services, and proximity to world-class operations. However, this also supports future development economics.

Diversified Metal Exposure: The VMS-epithermal system's polymetallic nature (gold, silver, copper, zinc, lead) provides commodity diversification and multiple revenue streams in future development scenarios.

Why Investors Should Follow Kuniko

The Commonwealth Project represents a compelling exploration story with multiple near-term catalysts and significant expansion potential. The combination of confirmed massive sulphide continuity, visible high-grade silver mineralisation, and a fully-funded aggressive drilling programme positions the company for sustained news flow throughout 2026.

Key factors supporting continued monitoring:

• Immediate catalysts: April assay results from massive sulphide intersections
• Expansion drilling: Phase II programme targeting resource growth and new discoveries
• Financial strength: $3.75M funding supports sustained exploration without dilution pressure
• Proven system: Historical high-grade intersections validate the deposit quality and grade potential
• District potential: Multiple unexplored targets across a substantial land package

Key Takeaway

Kuniko's Commonwealth Project has demonstrated both geological continuity and expansion potential through successful step-out drilling, while visible high-grade silver mineralisation at Silica Hill adds another dimension to the investment thesis. With assay results pending and aggressive follow-up programmes funded, the company is positioned for multiple value inflection points throughout 2026.

The intersection of massive sulphides, confirmed system continuity, and a fully-funded exploration pipeline creates a compelling investment narrative. For instance, investors seeking exposure to Australia's premier gold and base metals province will find the Kuniko Ltd Commonwealth Project results particularly encouraging for future developments.

Are You Ready to Capitalise on Kuniko's VMS-Epithermal Discovery?

With massive sulphide intersections confirmed across multiple drill holes and visible high-grade silver mineralisation at Silica Hill, Kuniko Ltd is positioning itself as a compelling exploration story in Australia's premier Lachlan Fold Belt. The Commonwealth Project's combination of geological continuity, district-scale potential, and a fully-funded $3.75 million exploration programme creates multiple near-term value catalysts throughout 2026. Don't miss the opportunity to follow this emerging multi-metal discovery story – visit kuniko.eu to explore detailed project information, upcoming drilling programmes, and investment opportunities with Kuniko Ltd.