Strickland Metals Gold Discovery Delivers 1.2Moz at Gradina Deposit

Strickland Metals Limited (ASX: STK) has achieved a remarkable milestone with their Strickland Metals gold discovery at the Gradina Deposit within the Rogozna Gold and Base Metals Project in Serbia. The maiden Mineral Resource Estimate (MRE) reveals an impressive 1.2 million ounces of gold at 3.0g/t, representing exceptional value creation at a discovery cost of just US$10 per ounce.

According to the announcement released today, this milestone achievement has increased the total Rogozna Project resource base to an impressive 8.6 million ounces gold equivalent (AuEq). Furthermore, this solidifies its status as a globally significant Tier-1 project. With a robust $41.8 million cash position as of September 2025, Strickland is well-positioned to advance its ambitious exploration programme.

Strong Resource Foundation Across Multiple Deposits

The Gradina deposit joins three other established deposits within the Rogozna Project, creating a substantial resource portfolio. In addition, this demonstrates the project's exceptional mineral endowment across multiple zones.

The Gradina deposit stands out with its high-grade gold mineralisation averaging 3.0g/t, significantly above the project average. Moreover, the deposit demonstrates excellent underground mining potential, with 3,100 gold ounces per vertical metre in its core zone between 760m and 580m elevation.

Understanding Skarn-Hosted Gold Deposits: The Geology Behind the Discovery

Skarn deposits represent some of the world's most significant metal endowments, formed through the interaction of hot magmatic fluids with limestone host rocks. At Gradina, this geological process has created multiple high-grade gold lodes hosted within steeply dipping skarn formations.

Why Skarn Deposits Matter to Investors:

• High-grade potential: Contact metamorphism creates concentrated metal zones
• Large-scale systems: Often contain multiple deposit centres across broad areas
• Processing advantages: Typically amenable to conventional flotation methods
• Global significance: Home to some of the world's largest metal deposits

The Rogozna Project represents a 29-27 million-year-old magmatic hydrothermal system where multiple intrusive events created extensive skarn alteration. Consequently, this geological setting provides excellent potential for additional discoveries along the same mineralised trend.

Exceptional Underground Mining Potential

The Gradina deposit's geometry and grade distribution make it highly attractive for underground extraction. However, the deposit characteristics offer several key mining advantages that enhance its economic potential.

Deposit Characteristics

The Strickland Metals gold discovery at Gradina exhibits impressive dimensions with an 800m strike length and mineralisation open in all directions. Furthermore, the deposit extends over a 720m vertical extent from surface to current drilling depth. Multiple high-grade lodes ranging from 3-30m true width contribute to the overall resource, with an 11m average horizontal width across the deposit.

Access and Infrastructure

The strategic location offers potential horizontal access from ridge flank located 700m east of the main mineralised zone. Notably, 90% of resources lie within 500m of the proposed portal elevation. The suitable terrain allows for conventional underground development using industry-standard methods.

The deposit utilises Long Hole Open Stoping (LHOS) mining methods in the resource evaluation. For instance, this reflects industry-standard underground extraction techniques for this style of mineralisation.

Significant Growth Potential Across Multiple Vectors

Gradina's resource estimate represents just the beginning of the deposit's potential. In addition, mineralisation remains completely open in multiple directions, providing exceptional expansion opportunities.

Immediate Growth Opportunities

The Gap Zone represents a central area between northern and southern deposit sections that remains largely unexplored. However, the Northern Extension extends beyond the high-grade intersection of 19.6m @ 7.0g/t Au.

The Southern Extension continues below the exceptional 702.5m @ 0.9g/t Au intersection including 80.0m @ 2.3g/t Au. Furthermore, depth potential remains significant as all current drilling remains open at depth across the 800m strike length.

Current Activity

Five diamond rigs are currently operating with two focused specifically on Gradina gap zone drilling. The full 8-rig programme is scheduled to resume in Q2 2026 following the seasonal break. Additionally, a Shanac deposit resource update is scheduled for Q1 2026.

The company's systematic approach to resource expansion provides multiple catalysts for continued growth throughout 2026.

"Delivering a maiden Resource of 1.2Moz Au for the Gradina Deposit, with an average grade of 3.0g/t Au, is an outstanding result which reinforces the quality and scale of the Rogozna Project. Recent drilling at Gradina has delivered some exceptional intercepts of high-grade, gold-dominant mineralisation across the length of the deposit, underpinning a substantial maiden MRE at a discovery cost of just $US10/oz." – Paul L'Herpiniere, Managing Director

Investment Thesis: Why Investors Should Follow Strickland Metals

Strickland Metals has demonstrated exceptional exploration success with their Strickland Metals gold discovery, delivering 1.2 million ounces of gold at just US$10 per ounce. Consequently, this represents outstanding value creation by global standards. The company's disciplined approach has built an 8.6 million ounce AuEq resource base across multiple deposits within a single project.

Investment Highlights

• Tier-1 scale project in mining-friendly Serbia
• Strong financial position with $41.8 million cash
• Multiple growth vectors across four established deposits
• Experienced management team with proven track record
• Strategic location within established mining region

The Rogozna Project's combination of scale, grade, and growth potential positions it among the most significant undeveloped gold projects globally. However, with upcoming resource updates and continued drilling success, Strickland offers investors exposure to a world-class discovery.

The jurisdiction provides established mining infrastructure, which further enhances the project's development potential. The next Rogozna resource update is scheduled for Q1 2026, focusing on the cornerstone 5.3Moz AuEq Shanac Deposit.

This update, combined with ongoing drilling across the broader project area, provides near-term catalysts. Furthermore, it supports continued resource growth and value creation for shareholders.

What Makes This Discovery Exceptional?

The Strickland Metals gold discovery stands out due to its exceptional discovery cost of just US$10 per ounce. For instance, industry averages typically range between US$50-100 per ounce for similar discoveries. The high-grade nature of the mineralisation, averaging 3.0g/t gold, significantly exceeds typical skarn deposit grades.

Strickland Metals has successfully built one of the most significant undeveloped gold projects globally, with 8.6 million ounces AuEq and exceptional growth potential. The company's strong financial position and systematic exploration approach make it a compelling opportunity for investors seeking exposure to Tier-1 gold discoveries.

Ready to Explore This Tier-1 Gold Discovery?

Strickland Metals has delivered exceptional value creation with their 1.2 million ounce gold discovery at just US$10 per ounce, building an impressive 8.6 million ounce AuEq resource base across the Rogozna Project. With a strong $41.8 million cash position, multiple growth vectors, and upcoming resource updates scheduled for Q1 2026, the company presents a compelling investment opportunity in one of the world's most significant undeveloped gold projects. Discover how Strickland's systematic exploration approach and Tier-1 project scale could benefit your investment portfolio by visiting stricklandmetals.com.au.