Rumble Resources Extends High-Grade Gold Shoot 200m at Western Queen

Rumble Resources Drills Into High-Grade Gold, Setting the Stage for a Transformational Resource Upgrade

Rumble Resources Western Queen high-grade gold drilling results continue to impress, with the company delivering another standout intercept from its Western Queen Central diamond drilling programme. The latest results confirm the extension of a high-grade gold shoot deeper than previously defined, positioning the company for what management believes will be a materially larger mining inventory than outlined in its November 2025 Scoping Study.

The latest intercept of 9.45m @ 11.16 g/t gold from 331.55m depth in hole WQDD063 extends high-grade mineralisation to more than 200 metres below the historical Western Queen Central underground workings — a compelling technical result that adds momentum to an already impressive string of high-grade hits from the ongoing programme.

With a Feasibility Study and updated Mineral Resource Estimate both on track for mid-year delivery, Rumble appears to be entering a meaningful value-inflection period.

A Drill Programme That Keeps Delivering

The Western Queen Central diamond drilling programme commenced in October 2025 and concluded in mid-April 2026, completing a total of 17,225 metres of drilling. The results have consistently validated and extended the known high-grade shoot at the Central deposit.

Hole WQDD063 was drilled as a 40-metre down-plunge step-out from the previously reported WQDD052, successfully extending mineralisation further along the shoot's plunge direction. This result also suggests the potential for alternative lode orientations, which Rumble is currently investigating through ongoing litho-structural interpretation and modelling.

The four standout high-grade intercepts from this programme are summarised below:

All four intercepts exceed the 50 gram-metre threshold — a common industry benchmark used to identify economically significant gold mineralisation — underscoring the consistency and quality of the mineralised shoot at Western Queen Central.

Managing Director and CEO Peter Harold commented: "Great to see more high-grade intersections at Western Queen Central which should lead to a substantial upgrade of the resources at Central. Importantly, the more Indicated resources we can report the more potential there is to convert this into a Mining Inventory at Central. The Feasibility Study is well underway and on track to be delivered mid-year along with the updated Mineral Resource Estimate. We are expecting now to incorporate material from both Western Queen South and Central which should result in a much larger mining inventory than the production target outlined in the November 2025 Scoping Study."

Understanding Gram-Metres: Why It Matters to Investors

One of the most useful metrics for evaluating gold drill results — particularly for underground mining scenarios — is the concept of gram-metres (g/t Au × interval width in metres).

What Is It?

Gram-metres is calculated by multiplying the gold grade of an intercept by its width. For instance, an intercept of 9.45m at 11.16 g/t Au produces 105.5 gram-metres.

Why Does It Matter?

Underground gold mines are highly sensitive to both grade and width. A narrow, ultra-high-grade intercept may be as economically valuable as a broader, lower-grade one. By combining both dimensions into a single number, gram-metres allows investors and geologists to compare intercepts on a like-for-like basis, regardless of their geometry.

What Is the Industry Benchmark?

Many underground gold projects consider 50 gram-metres as a threshold for economic relevance at current gold prices. All four of Rumble's key intercepts at Western Queen Central exceed this threshold, with WQDD052's result of 178.2 gram-metres standing out as particularly exceptional.

Furthermore, the following key glossary terms are worth understanding when reviewing this announcement:

• Down-plunge extension: Drilling deeper along the axis of a mineralised shoot to test whether it continues in the direction it is trending, usually at depth.
• Indicated Resource: A mineral resource category with sufficient drilling density to support reasonable assumptions about grade and continuity — a higher-confidence classification than Inferred.
• Mining Inventory / Ore Reserve: The portion of a resource that can be economically extracted, often the key commercial metric used to underpin a Feasibility Study and financing decisions.
• Gram-metres: Grade (g/t) multiplied by intercept width (metres), used to compare economic significance across different drill intercepts.
• Litho-structural interpretation: Geological analysis combining rock type (lithology) and structural features (faults, folds) to understand the controls on mineralisation.

What Sets Western Queen Apart: The Dual-Commodity Advantage

Western Queen is not a single-commodity story. The project hosts both gold and tungsten mineralisation — a relatively rare combination that adds a distinct dimension to the investment case.

The gold resource of 3.72Mt at 3.1 g/t Au for 370,000oz was announced in July 2025. The tungsten resource — a maiden estimate of 4.31Mt at 0.31% WO3 for 13.2kt WO3 — was announced in August 2025 following the discovery of high-grade scheelite mineralisation in August 2024.

Importantly, tungsten mineralisation remains open in all directions and could potentially be mined concurrently with gold, a scenario the company is evaluating through a dedicated Scoping Study.

The project also boasts a strong historical production pedigree:

• Western Queen Central: 660,000t @ 8.9 g/t Au for 189,500 oz historically produced
• Western Queen South: 220,000t @ 3.6 g/t Au for 25,500 oz historically produced
• Combined historical production: 880,000t @ 7.6 g/t Au for 215,000 oz

This historical track record, combined with the company's current drilling success, reinforces the geological credibility of the system.

Strategically Located: Infrastructure in a Proven Gold Belt

Location is a critical, often underappreciated factor in the economics of a gold project. Western Queen is situated in the Yalgoo mineral field of Western Australia, 90km northwest of Mt Magnet and approximately 40km northwest of Ramelius Resources' Dalgaranga Gold Project.

A key logistical advantage is that the original haul road linking Western Queen to the Dalgaranga processing infrastructure remains open and serves as the main access route into the project today.

Furthermore, Western Queen sits within 200km of five gold processing plants — a strategic position that broadens the company's options for toll milling arrangements and reduces the capital intensity of any potential development pathway.

Near-Term Catalysts: A Packed Mid-Year Calendar

The next 60–90 days represent one of the most catalytically dense periods in Rumble's recent history. The upcoming schedule includes multiple newsworthy milestones across both commodities:

Gold

1. Final assay results from Western Queen South — expected May 2026
2. Metallurgical testwork results from six infill diamond holes — to be reported early May 2026, validating previously strong metallurgical recoveries from Western Queen South
3. Updated Gold Mineral Resource Estimate — scheduled mid-year 2026
4. Feasibility Study delivery — on track for mid-year 2026

Tungsten

1. Final tungsten assay results — expected May 2026
2. Updated Tungsten Mineral Resource Estimate — scheduled mid-year 2026
3. Tungsten Scoping Study — to evaluate concurrent mining of WO3 material alongside gold

The convergence of these milestones — particularly the Feasibility Study and updated MRE — means the second half of 2026 could be transformational for Rumble's project development narrative.

The Investment Thesis: Resource Growth, Development Momentum, and Dual-Commodity Upside

Several factors combine to make Rumble Resources a project to watch closely heading into mid-2026.

1. A high-grade system with demonstrated depth continuity

The four high-grade intercepts at Western Queen Central — all exceeding 50 gram-metres — confirm that the shoot is robust, high-grade, and extending. Extending mineralisation 200m below historical workings is a meaningful result that expands the volume available for resource classification.

2. Resource upgrade potential is tangible and near-term

Management has explicitly flagged expectations for a "substantial upgrade" to Central resources, while also incorporating Western Queen South material. The combined effect is anticipated to produce a mining inventory materially larger than the November 2025 Scoping Study's production target. Investors don't need to speculate on whether resources will grow — the drilling results make the case directly.

3. The Feasibility Study elevates project credibility

A Feasibility Study is the key document that underpins project financing and development decisions. Its delivery at mid-year — alongside the MRE update — represents a significant maturation of the project from exploration-stage to development-stage, a transition that typically attracts a different class of investor attention.

4. Dual-commodity exposure in a critical minerals context

Tungsten is classified as a critical mineral in Australia and across numerous Western economies due to its applications in defence, electronics, and industrial manufacturing. The presence of a maiden 13.2kt WO3 resource at Western Queen — with mineralisation open in all directions — provides optionality that extends well beyond the gold story.

5. 100% ownership and proven geology

Rumble holds 100% equity in the Western Queen project. There are no joint venture dilution risks, and the company is the sole decision-maker on the pace and direction of development. The project sits within a well-understood Archaean greenstone belt with a long history of gold production — geological risk here is materially de-risked compared to early-stage exploration.

Why Investors Should Keep Rumble Resources on Their Radar

Rumble Resources sits at an interesting intersection: high-grade drill results continue to validate and extend an already-defined resource, a Feasibility Study is imminent, and a dual-commodity value proposition adds layers of upside that a purely gold-focused project would not offer.

The company is not speculating on whether mineralisation exists — it is drilling into a known, high-grade system with historical production, meaningful existing resources, and a clear development pathway.

The mid-2026 period — with a Feasibility Study, updated MREs for both gold and tungsten, metallurgical results, and final assay data all converging — sets up an unusually concentrated sequence of catalysts for a company of Rumble's size and stage. Consequently, the Rumble Resources Western Queen high-grade gold drilling results achieved so far suggest this convergence of newsflow could mark a defining moment in the company's development story.

Key Takeaway: Rumble Resources (ASX: RTR) has built a compelling case at Western Queen through disciplined, high-quality drilling that continues to deliver exceptional grade. With a confirmed high-grade shoot now extending more than 200m below historical workings, a resource upgrade and Feasibility Study both on track for mid-year, and a dual-commodity gold-tungsten project in a proven Western Australian gold belt, Rumble is entering a defining development period. Investors watching the company's upcoming mid-2026 milestones may be doing so at an opportune moment in its project maturation journey.

Want to Know More About Rumble Resources' Western Queen Project?

With a Feasibility Study, updated Mineral Resource Estimates for both gold and tungsten, and final assay results all converging at mid-2026, Rumble Resources (ASX: RTR) is entering one of the most catalyst-rich periods in its history. To learn more about the company, the Western Queen project, and what these drilling results could mean for the investment case, visit the Rumble Resources website.