Further High-Grade Gold Intercepts at Yarrol

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

12 October 2026

Mila Resources Plc

(“Mila” or the “Company”)

Q3 Drilling at Yarrol Delivers Further High-Grade Gold Intercepts

Mineralised Envelope Extended Beyond Historic Depth Limits with Multiple Stacked Zones

Mila Resources Plc (LSE: MILA), the post-discovery gold and copper resource development company focused on Australia, is pleased to announce further assay results from its ongoing Q3 reverse circulation (“RC”) drill programme, which consist of nine holes at the Company’s 100% owned Yarrol Gold Project (“Yarrol” or the “Project”) in Queensland, Australia.

Assay results have now been received for four holes of the nine-hole Q3 RC programme. The results have returned multiple stacked high-grade gold intercepts and extended the known mineralised envelope at Yarrol North materially below the depth tested previously (being 70m). This programme continues to support the Company’s strategy of advancing the historic Yarrol resource through modern exploration techniques and expanding the system at depth and along strike.

Highlights

MYARC0224:

•          43m @ 1.06 g/t from 45m including:

o        23m @ 0.85 g/t Au from 45m, including 3m @ 3.13 g/t Au from 65m

o        17m @ 1.51 g/t Au from 71m, including 2m @ 5.92 g/t Au from 81m

•          2m @ 2.35 g/t Au from 166m, including 1m @ 3.96 g/t Au from 167m — extending mineralisation to approximately 170m vertical depth

MYARC0225:

•          2m @ 1.81 g/t Au from 29m

•          2m @ 1.94 g/t Au from 125m, including 1m @ 3.44 g/t Au from 125m

•          2 m @ 11.85 g/t Au from 156m, including 1m @ 23.40 g/t Au from 156m

MYARC0227:

•          5m @ 1.06 g/t Au from 19m, including 2m @ 2.26 g/t Au from 19m

•          7m @ 1.11 g/t Au from 57m, including 2m @ 1.98 g/t Au from 61m

MYARC0223:

•          3m @ 2.34 g/t Au from 14m, including 1m @ 3.83 g/t Au from 15m, within a shallow near-surface zone immediately beneath the historic workings.

Mineralised System:

•          MYARC0224 and MYARC0225 both intersected gold mineralisation materially below the extent of previous drilling, extending the mineralised envelope at Yarrol North to approximately 170m vertical depth and demonstrating the system remains open at depth.

•          Results support the team’s geological model interpretation of an east-dipping, structurally-controlled gold system that continues beneath the current drilled area and remains open to the north along the Yarrol Fault corridor.

•          Assay results from the remaining five holes of the Q3 programme are expected over the coming weeks.

Composites reported at a 0.3 g/t Au cut-off with a maximum of 2m internal dilution. All intersections are reported as downhole widths; true widths are not estimated and may be less than reported downhole widths.

Commenting, Executive Chairman Mark Stephenson said:

“These latest results from Yarrol are particularly encouraging and continue to strengthen our belief that we are dealing with a significantly larger gold system than was recognised historically.

“The most important aspect of this programme is the continuity of mineralisation at depth. We have now extended the known mineralised envelope at Yarrol North to approximately 170 metres vertical depth, well beyond the historic drilling, with multiple stacked zones of mineralisation and higher-grade intervals. The 11.85 g/t Au and 23.40 g/t Au intercepts in MYARC0225 are particularly encouraging and provide further evidence that higher-grade shoots continue at depth.

“Importantly, these results are not simply confirming what we already knew. They are expanding our understanding of the system and demonstrating that the historic resource area appears to represent only part of a much broader mineralised corridor.

“We still have five holes from this Q3 programme awaiting results, and these will help us further refine our geological model and determine the next areas to target. We are also continuing to apply modern exploration techniques and machine-learning-assisted targeting to the broader Yarrol system.

“Our immediate objective remains clear: to build sufficient geological confidence to deliver an initial Mineral Resource Estimate at Yarrol in Q4 2026. These results provide further encouragement that our geological model is holding up and we are de-risking the project.”

Further Information

About the Yarrol Gold Project

The Yarrol Gold Project is located within the North New England Fold Belt in central Queensland, Australia and sits along the regionally-extensive Yarrol Fault corridor. Mineralisation at Yarrol North is interpreted as an oxidised, intrusion-related gold system hosted within a compositionally-zoned gabbro–diorite–tonalite intrusive suite, with gold concentrated in sodic-altered, magnetite-destructive portions of the intrusive as sheeted quartz-sulphide veins and higher-grade shoots. The historic resource area represents only a portion of a broader mineralised corridor containing multiple historical workings that remain underexplored using modern techniques.

Q3 Drilling Programme

The Q3 programme comprises nine RC holes designed to improve geological confidence within the historic Yarrol resource area and to systematically extend the known mineralised system at depth and along strike. The programme has been informed by the independent technical review completed by RSC and by the machine-learning target generation workflow being developed in collaboration with MinML.

Figure 1: Drilled holes at Yarrol; the red line indicates the section trace

The holes reported in this announcement were drilled on four sections across the Yarrol North prospect, with hole depths ranging from 101m to 198m. Hole collar details are set out in Table 2.

Advancing the Known Yarrol Resource

Historic exploration at Yarrol defined mineralisation to approximately 60 m below surface. These Q3 results reported today confirm that the Yarrol North mineralised system continues well below that depth, with MYARC0224 and MYARC0225 returning significant intercepts between 156m and 180m downhole, equivalent to approximately 170m vertical depth.

MYARC0224 is particularly significant, returning three stacked mineralised intervals within a single hole and demonstrating that the sheeted vein and higher-grade shoot architecture mapped at surface persists at depth. The combination of a broad 43m @ 1.06 g/t zone with internal higher-grade intervals is consistent with the controls on mineralisation observed elsewhere in the deposit and supports the Company’s view that the mineralised volume at Yarrol North is materially larger than that captured by the historic resource.

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Figure 2: Section for hole MYARC0224

MYARC0225 returned the deepest significant intercept recorded to date at Yarrol North. Although a narrow 2m interval, its position confirms the vertical persistence of the system and provides a clear target for the next phase of extensional drilling. MYARC0223 and MYARC0227 confirm the near-surface portion of the system, with both holes returning multiple mineralised zones within the historic resource envelope at grades and widths consistent with the modelled mineralisation.

Unlocking the Wider Yarrol Gold System

The Q3 programme deliberately extended drilling beyond the limits of the historic resource area to begin testing the broader Yarrol Fault corridor. The results reported today support management’s view that the historic resource area represents only a portion of a larger mineralised system.

The architecture emerging from the Q3 drilling, an east-dipping, structurally-controlled system with stacked higher-grade shoots developed within a broader sheeted-vein envelope, is consistent with the geological model being refined in collaboration with MinML. The depth extension demonstrated by MYARC0224 and MYARC0225, together with the continuity of mineralisation to the north, materially expands the volume of rock prospective for additional ounces.

Next Steps

Assay results for the remaining five holes of the Q3 programme are expected over the coming weeks and will be released in batches to allow the context of results to be clearly demonstrated. Mila is targeting an initial resource estimate at Yarrol in Q4 2026.

Table 1. Significant drill intersections, Q3 RC drilling at Yarrol North (0.3 g/t Au cut-off; max 2 m internal dilution).

Table 2. Q3 drill hole collar details (GDA94 / MGA Zone 56).

Sampling and Analytical Methods

RC drill samples were collected at 1m intervals using a cyclone splitter at the rig and submitted to ALS Minerals Laboratory in Brisbane for gold determination by fire assay with AAS finish (method Au-AA26). Industry-standard QAQC protocols were applied, including the systematic insertion of certified reference materials, field blanks and field duplicates. QAQC performance for the batches reported in this announcement has been reviewed and is within acceptable tolerance.

Competent Person Statement

The information in this announcement relating to Exploration Results is based on information compiled by Dr 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 resource developer focussed on advancing a portfolio of gold and copper interests in 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.