Legacy Minerals Identifies 38 AI-Ranked Gold-Silver Targets at Mt Carrington

Legacy Minerals Deploys AI to Unlock 38 New Targets Across Its 115Moz AgEq Mt Carrington Project

Legacy Minerals Holdings Limited (ASX: LGM) has taken a significant step in expanding the discovery pipeline at its Mt Carrington gold-silver project in New South Wales, announcing that Legacy Minerals Mt Carrington AI targets for gold silver copper exploration has identified 38 priority gold-silver-copper targets across the district-scale epithermal system. The targets span both brownfields extensions to the existing 115 million ounce silver-equivalent (AgEq) Mineral Resource and entirely new regional exploration areas – materially broadening the Company's near-term drilling agenda.

What the AI Found and Why It Matters

Legacy Minerals engaged Vrify and applied its DORA (Data-Oriented Reconnaissance Assistant) AI platform to decades of accumulated geological, geochemical and geophysical data compiled across the Mt Carrington project area. Three separate models were run, focusing on gold, silver and copper mineralisation pathfinders.

The key outputs can be summarised as follows:

Brownfields Targets (Near Existing Resource)

• New extensional trends identified at Mt Carrington and White Rock, interpreted to be open along strike and at depth
• Specific new target names at the silver-rich White Rock area include Lambda, Nu, Gamma and Link
• These targets are designed to support resource extension drilling within a large, already-mineralised system

Regional Targets (Outside Current Mineral Resource)

• New target clusters including Omega, Zi, Mars and Callisto identified beyond the current Mineral Resource footprint
• These provide Legacy Minerals with additional pathways to test for entirely new mineralised centres
• Semi-coincident with, but distinct from, previously recognised target areas such as Battery, Emu and Mascotte

Validation of Known Prospects

• The AI study confirmed previously recognised prospective areas including Emu, Battery and Mascotte, providing independent validation of the Company's geological interpretation

CEO & Managing Director Christopher Byrne commented: "What the application of AI-assisted technology work has done is bring that exploration dataset together in a disciplined way to help us rank where the next phase of value may emerge, both around known deposits and in areas that have seen limited effective follow-up. These targeting outputs help us to prioritise work programs, refine drill planning and allocate exploration capital more effectively."

Understanding the Technology: What Is the DORA AI Platform?

For investors less familiar with AI-assisted exploration targeting, epithermal systems represent shallow-crustal gold and silver deposits formed by hydrothermal fluids. Traditional mineral exploration relies heavily on geologists manually interpreting drill results, geophysical surveys and geochemical sampling – a process that can leave patterns buried across large, complex datasets undetected.

The DORA platform, developed by Vrify, applies machine-learning pattern recognition to simultaneously evaluate thousands of geological scenarios and detect spatial relationships that human interpretation alone may miss.

At Mt Carrington, DORA integrated:

1. Historical drilling data accumulated over decades of exploration
2. Geochemistry and structural data from multiple operators
3. A recently completed high-resolution Mobile MT geophysical survey
4. Reprocessed IP (Induced Polarisation) geophysical data
5. Global reference datasets from other mineralised systems worldwide

The output is a ranked, scored list of prospective targets – not a confirmation of mineralisation, but a disciplined, data-driven prioritisation tool that guides where drilling capital is most efficiently deployed.

Why Does This Matter to Investors?

Smarter target generation means less capital wasted on low-probability drill holes, faster identification of resource extensions, and a higher probability of meaningful discovery per dollar spent. Importantly, Vrify's DORA platform has previously been applied by Southern Cross Gold (ASX: SXG) and Equinox Gold (TSX: EQX), where it contributed to new mineral discoveries.

Glossary of Key Terms

The Foundation: A Substantial Existing Resource Base

Before considering the upside unlocked by this AI study, it is worth grounding the investment case in what Legacy Minerals already controls at Mt Carrington. The existing Mineral Resource – which the AI targets sit entirely outside of – is substantial in scale.

Mt Carrington Mineral Resource Summary (as at 13 March 2025)

The project also carries the distinction of a scoping study that outlined the potential for a first-quartile All-in Sustaining Cost (AISC) operation at A$1,188/oz, underscoring the economic attractiveness of the underlying asset even before the exploration upside identified by the AI study is factored in.

Furthermore, the Mt Carrington project sits within 393km² of granted exploration tenements in northern New South Wales, centred on the Drake Volcanics – a large circular caldera complex spanning approximately 150km².

Near-Term Catalysts: A Packed Drilling Pipeline

One of the most compelling aspects of this announcement is not just the quantity of targets generated, but the immediacy of activity across the project. Legacy Minerals has outlined a clear sequence of near-term drilling and assay catalysts.

Upcoming Activity Schedule

The Emu Prospect is described as sitting within a structurally complex part of the Mt Carrington system and has been identified by the AI study as one of the higher-ranked greenfields opportunities. It carries coincident structural, geophysical and geochemical signatures – the combination that geologists regard as the most compelling basis for a high-priority drill target.

The Investment Thesis: AI-Enhanced Exploration in a District Already Proven to Host Gold and Silver

The significance of this announcement extends beyond simply generating a list of new targets. It represents a systematic, technology-driven re-evaluation of a richly endowed district – one that has seen decades of exploration but where much of the historical data had never been integrated into a single consistent framework.

Several factors combine to make this a particularly interesting development for investors to monitor:

1. Scale of the Opportunity

Mt Carrington already hosts a 115Moz AgEq Mineral Resource across multiple deposits. The AI study's 38 priority targets are, by definition, outside of this resource – representing genuine incremental upside rather than simply repackaging known inventory.

2. District-Scale Geological Architecture

The project area covers a large, well-mineralised caldera system spanning 150km² with interpreted deep-seated conductive feeder structures and a district-scale conductivity lineament. The AI study's identification of these structural trends as controls on mineralisation is consistent with the Company's existing geological interpretation – and suggests the district may have significantly more to offer than the current resource captures.

3. Technology With a Track Record

Vrify's DORA platform is not being applied speculatively. The same technology contributed to new mineral discoveries at Southern Cross Gold's Sunday Creek project (ASX: SXG, October 2024) and at Equinox Gold's Valentine Gold Mine in Canada (TSX: EQX, February 2026). Its application at Legacy Minerals Mt Carrington AI targets for gold silver copper exploration adds considerable credibility to the target generation process.

4. Capital Efficiency

By ranking 38 targets by prospectivity and prioritising the strongest geological signatures, the AI study allows Legacy Minerals to allocate its exploration budget with greater precision. This is, consequently, a meaningful differentiator in a market where junior exploration companies must demonstrate disciplined capital management.

5. Multiple Near-Term News Flow Events

With Mascotte assays pending, Emu Prospect drilling commencing, and follow-up drilling approvals advancing at Mascotte, investors have a clear line of sight to multiple upcoming announcements that could materially expand on the current resource base or confirm new discoveries.

Technical Context: Understanding Epithermal Gold-Silver Systems

Epithermal deposits form when metal-bearing hydrothermal fluids rise through fractures and faults in volcanic environments, depositing gold and silver in veins and stockworks near the surface. These systems are characterised by their potential for high-grade zones and their tendency to occur in clusters across large districts.

The Mt Carrington Project sits within the Drake Volcanics, a Permian bimodal volcano-sedimentary sequence that provides the ideal geological setting for epithermal mineralisation. The Company's interpretation of district-scale structural controls and hydrothermal fluid pathways is consistent with the AI study's identification of target clusters along favourable structural trends.

The integration of multiple geophysical datasets – including the recently completed Mobile MT survey and reprocessed IP data – provides subsurface imaging capabilities that complement traditional geological mapping and geochemical sampling. This multi-layered approach, furthermore, increases confidence in target prioritisation and drilling success rates.

Why Investors Should Keep a Close Eye on Legacy Minerals

Legacy Minerals occupies an interesting position in the Australian gold-silver exploration landscape. It holds a substantial, multi-deposit resource base at a project with a demonstrably large-scale geological footprint – and has now applied industry-leading AI targeting technology to systematically expand its exploration pipeline beyond what decades of conventional work had identified.

The combination of an established 115Moz AgEq resource, a scoping study-level economic assessment, 38 AI-ranked drill targets, and multiple near-term drill catalysts creates a multi-layered investment case that extends from near-term news flow to longer-term resource growth and discovery potential.

• The Emu Prospect drill campaign – the first direct test of an AI-generated target – represents an imminent catalyst
• Mascotte assays, when received, will provide the next data point on the extent of a mineralised system that has already attracted significant drilling attention
• The regional target pipeline at Omega, Zi, Mars and Callisto opens entirely new fronts for potential discovery across a project area described as underexplored relative to its geological scale

Key Takeaway: Legacy Minerals has used AI-assisted exploration technology to reframe the scale of opportunity at Mt Carrington – a project that already hosts a 115Moz AgEq Mineral Resource. With 38 new priority targets ranked and ready to test, drilling imminent at the Emu Prospect, and Mascotte assays pending, the Company enters a high-activity period with multiple shots at expanding its resource base and making new discoveries. Investors tracking junior gold-silver developers should, therefore, have Legacy Minerals Mt Carrington AI targets for gold silver copper exploration firmly on their radar across one of New South Wales' most prospective epithermal districts.

Ready to Dig Deeper Into Legacy Minerals' AI-Driven Discovery Pipeline?

With 38 AI-ranked priority targets, a 115Moz AgEq Mineral Resource already in hand, and drilling at the Emu Prospect imminent, Legacy Minerals (ASX: LGM) is entering one of the most active exploration periods in its history at Mt Carrington. For investors looking to understand the full scope of the opportunity — from near-term drill catalysts to the longer-term district-scale discovery potential — visit www.legacyminerals.com.au to explore the Company's projects, announcements and investment case in detail.