Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

16 April 2026

Mila Resources Plc

("Mila" or the "Company")

Drilling Results Confirm Yarrol as a Continuous and Scalable Gold System

Mila Resources Plc (LSE: MILA), the post-discovery gold exploration accelerator, is pleased to report initial assay results from its Q1 2026 Reverse Circulation ("RC") drilling campaign at the Yarrol Gold Project, Queensland, Australia ("Yarrol") together with the first rock chip assay results from the Basilica and Jazza target areas within its Monal West licence.

OVERVIEW

Yarrol Gold Project - RC Drilling

·      Initial results from the Q1 2026 RC campaign confirm gold mineralisation at the southernmost positions drilled to date at Yarrol North, extending the confirmed strike length of just this one target to over 500m

·      These holes were designed to test the furthest southern extent of the system and west of holes included in the historic resource; mineralisation remains present and open in all direction at Yarrol

·      Further results from infill and step-out holes completed as part of the Q1 2026 programme are pending and will be reported in due course

·      The programme is designed to build the dataset required for an initial JORC mineral resource estimate ("MRE")

Monal West - Basilica and Jazza Rock Chips

·      First rock chip results from the Jazza target return anomalous Au, Cu and Ag, with best result of 1.8% Cu, 0.72 g/t Au and 51.4 g/t Ag (SBSLC016)

·      Elevated molybdenum (Mo), zinc (Zn) and tungsten (W) across multiple samples is consistent with the geochemical signature of a porphyry and associated epithermal system

·      Results are interpreted as potential surface expressions of a mineralised system extending to depth, consistent with a substantial inherited IP anomaly beneath the licence

·      Mila will advance these targets to drill-ready status using cost-effective ground geophysical surveys

Mark Stephenson, Executive Chairman, commented:

"These first set of drill holes were designed to test the southern and western edge of Yarrol, and the message is clear: the system is still there, mineralised and remains open. Broad zones of gold mineralisation, with higher-grade intercepts emerging at the southern margin, right at the limits of current drilling, are exactly what you want to see when building towards a maiden MRE. We have not yet defined the boundaries of this system, and these results reinforce our confidence that there the system will produce a meaningful resource to be defined.

"At Monal West, the rock chip results from the Jazza target have come back as we hoped. Gold, copper and silver, alongside anomalous molybdenum, tungsten and zinc, form a geochemical signature consistent with a porphyry-style system at depth. The geophysics pointed to something substantial beneath the surface, and now the geochemistry is backing that up. We will run targeted ground IP surveys across these priority corridors to refine our targets and move them efficiently towards drill-ready status.

"We are advancing two high-quality exploration programmes in parallel, each delivering results that reinforce the scale and potential of the ground we hold. This epitomises our entire exploration strategy - move with discipline, drill smart, and systematically build value."

Further Information

Yarrol Gold Project: Initial Results from RC Campaign

Mila is pleased to announce initial results from the first two holes of a 12-hole RC programme at Yarrol.

The Q1 2026 RC programme was designed to systematically extend the mineralised footprint at Yarrol in support of an initial JORC MRE, with infill and step-out holes testing the boundaries of the system in all directions. To date, mineralisation has not been closed off in any direction and the confirmed strike length at Yarrol North now exceeds 500m.

This initial batch of results covers a southern step-out hole designed to test the outer limits of the system and an infill hole to test mineralisation continuity in the west of the historic resource area. Even at these furthest positions, broad zones of gold mineralisation with higher-grade internal intercepts have been returned, and the system remains open to the south. Further results from the remainder of the Q1 2025 programme are pending and will be reported in due course.

Best intercepts from the initial two holes include:

MYARC0221

·      9 m @ 0.7 g/t Au from 31 m

o  Including 1 m @ 1.45 g/t Au from 31 and 1 m @ 1.35 g/t Au from 37 m

MYARC0219

·      5 m @ 1.0 g/t Au from 42 m

o  Including 2 m @ 1.44 g/t Au from 43 m

Multi-element geochemical assays are being used to refine the Company's structural interpretation of the Yarrol system and to inform next-phase drill targeting.

Monal West: Basilica and Jazza Target Rock Chip Results

At Monal West, initial rock chip sampling around the Jazza target has returned anomalous gold, copper and silver values accompanied by a multi-element (molybdenum (Mo), zinc (Zn) and tungsten (W)) geochemical signature consistent with porphyry and epithermal mineralising systems. The Company considers these results to be early-stage vectoring information into what may represent a broader mineralised system at depth, in a region where the inherited IP geophysics has defined a substantial subsurface anomaly. Mila intends to advance these targets to drill-ready status through targeted low-cost ground geophysical survey methods.

Mila's reprocessing of historical geophysical datasets identified a priority porphyry-style exploration corridor within its Monal West licence, anchored by the Basilica IP anomaly. The Jazza target, located to the southwest of Basilica, was selected for initial surface sampling based on structural interpretation and geochemical vectoring from legacy datasets.

Rock chip samples from surface outcrops of quartz veins in a creek bed proximal to Jazza returned anomalous multi-element values:

Figure 2. Location of the Basilica-Jazza prospect in the Monal licence. Rock chips were collected from the Jazza target to the SW of the Basilica geophysical anomaly.

Competent Person Statement

The information in this announcement relating to Exploration Results is based on information compiled by Alastair Goodship, who is COO of Mila Resources, and a member of The Institute of Materials, Minerals and Mining and a Fellow of the Geological Society. Dr Goodship has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves".

**ENDS**

For more information visit www.milaresources.com or contact:  

ABOUT MILA RESOURCES

Mila Resources Plc (LSE: MILA) is a post-discovery gold exploration company focused on advancing a portfolio of gold and copper interests in Queensland, Australia.  The most advanced is the Yarrol Gold Project which is moving towards an initial Mineral Resource Estimate, alongside the systematic advancement of exploration targets across its broader Queensland licence portfolio, including the Monal West porphyry corridor.

Appendix - Drill Results