Rogozna

Overview

The Rogozna Gold and Base Metals Project, located in the Raška District of southern Serbia, lies within the globally significant Tethyan Metallogenic Belt, which hosts multiple, giant, porphyry-related deposits. Covering approximately 184km², Rogozna comprises four Exploration Licences and contains a JORC Inferred Mineral Resource of 7.4Moz AuEq, with the potential to become one of the largest undeveloped gold deposits in the world.

Serbia – A Favourable & Proven Mining Jurisdiction

The Rogozna Project lies in the heart of Serbia’s Trepca Mineral District, one of Europe’s largest base metal mining centres. Serbia is Europe’s second largest copper producer and is a well-regulated, established mining jurisdiction with a modern mining code.

In July 2024, Serbia signed a Memorandum of Understanding with the European Union creating a strategic partnership on sustainable raw materials, battery value chains and electric vehicles.

A number of major global mining companies have significant projects in Serbia, including BHP, Rio Tinto, Vale, Zijin Mining, Kinross Gold and Dundee Precious Metals.

Serbia has a highly skilled workforce and excellent infrastructure, as well as a highly favourable fiscal regime including a 15% corporate tax rate.

Project Highlights

Large-scale Resource
7.4Moz AuEq resources for just two of four drill-defined deposits.
Exploration Potential
Advanced exploration targets and significant intercepts outside current Resources offer substantial growth potential.
Active Program
50,000m of drilling planned in 2025, with multiple discovery opportunities and Resource upgrades through to end 2025.
Experienced Team
The project benefits from the involvement of industry experts, including Paul L’Herpiniere as Managing Director and Dr Jon Hronsky OAM as Non-Executive Director.

Location and Access

The Rogozna Project is located near Novi Pazar in southern Serbia, approximately 400km south of Belgrade. Access to the project area is facilitated by regional highways and well-maintained roads and tracks within the project area.

Geology and Mineralisation

Rogozna hosts a large-scale magmatic hydrothermal system, featuring skarn-based Au-Cu (+/- Zn, Ag, and Pb) mineralisation. The key prospects within the project are Shanac, Gradina, Medenovac and Copper Canyon. The geological framework supports various styles of mineralisation, including epithermal and porphyry-hosted copper-gold deposits.

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Key Prospects

Shanac

Current Resource: JORC 2012 Inferred Resource of 5.3Moz AuEq, open in all directions.
Drilling Highlights: 293.9m @ 2.5g/t AuEq from 162.3m, including 89.7m @ 4.0g/t Au from 244.5m (ZRSD241491).
Prospect Strengths: Core of the deposit (~150 – 450m depth) averages ~14,000 AuEq ounces per vertical metre.
Resource update targeted for Q1 2025.

Gradina

Drilling Highlights: 50m @ 4.6g/t Au from 592m, including 32m @ 6.8g/t Au from 595m (EOKSC1361b)
Prospect Strengths: Multiple high-grade gold lodes with ~1km of drill-defined strike, open in all directions including up-dip towards surface.
Initial Resource estimate targeted for Q4 2025.

Medenovac

Drilling Highlights: 352m @ 2.1g/t AuEq from 240m, including 97.7m @ 5.1g/t AuEq from 321m (ZRSD21136)
Prospect Strengths: 600m of drill-defined Zn-Cu-Au mineralisation, open along strike and at depth.
1.28Moz AuEq maiden resource.

Copper Canyon

Drilling Highlights: 165.8m @ 1.7g/t AuEq from 18m, including 28m @ 4.25g/t AuEq from 110m (PDMC0611)
Prospect Strengths: Outcropping copper-gold mineralisation with high-grade distal gold-only mineralisation at depth, mineralisation open along strike and at depth.
Current Resource: JORC 2012 Inferred Resource of 0.8Moz AuEq.

JORC Mineral Resources

Prospect	Tonnes (Mt)	AuEq (g/t)	Au (g/t)	Cu (%)	Ag (g/t)	Pb (%)	Zn (%)	AuEq (Moz)	Au (Moz)	Cu (kt)	Ag (Moz)	Pb (kt)	Zn (kt)
Medenovac Prospect (February 2025)^A	21	1.9	0.77	0.27	6.3	0.11	1.54	1.28	0.52	57	4.3	23	320
Shanc Prospect (March 2025)^A	150	1.1	0.64	0.12	5.8	0.24	0.34	5.30	3.09	180	28.0	360	510
Copper Canyon Prospect (October 2021)^B	28	0.9	0.40	0.30	–	–	–	0.81	0.36	84	–	–	–
Total^C	199	1.2	0.62	0.16	5.0	0.19	0.41	7.40	3.97	320	32.2	380	830

Table Notes:

A. For Medenovac (February 2025) and Shanac (March 2025) AuEq grade is based on metal prices of gold (US$2,250/oz), copper (US$10,000/t), silver (US$25/oz), lead (US$2,200) and zinc (US$3,000/t) and overall metallurgical recoveries of 80% for these metals. These estimates are based on Strickland’s interpretation of potential long term commodity prices and their interpretation of initial metallurgical test work and use the following formula: AuEq (g/t) = Au (g/t) + 1.38 x Cu(%) + 0.011 x Ag (g/t) +0.304 x Pb(%) + 0.413 x Zn(%). It is the Company’s opinion that all the elements included in the metal equivalents calculations have a reasonable potential to be recovered and sold. A 1.0 g/t AuEq cut-off has been used for the Medenovac Resource Estimate. A 0.60 g/t AuEq cut-off has been used for the Shanac estimate.

B. For Copper Canyon (October 2021) AuEq grade based on metal prices of gold (US$1,750/oz), copper (US$10,000/t), and metallurgical recoveries of 80% for both metals. These estimates are based on Strickland’s assumed potential commodity prices and recovery results from initial and ongoing metallurgical test work and use the following formula for Copper Canyon: AuEq (g/t) = Au (g/t) + 1.55 x Cu (%). It is the Company’s opinion that all the elements included in the metal equivalents calculations have a reasonable potential to be recovered and sold. A 0.4g/t AuEq cut-off has been used for the Copper Canyon Resource Estimate.

C. Rounding errors are apparent in the summation of total resources.

Please refer to the Company’s ASX announcements dated:

27 March 2025 titled: “Shanac Resource Increases to 5.30Moz AuEq, Taking Rogozna to 7.40Moz AuEq” for full details regarding the Shanac Mineral resource Estimate;
19 February 2025 titled: “Rogozna Resource Increases by 23% to 6.69Moz AuEq” for full details regarding the Medenovac Mineral Resource Estimate; and
17 April 2024 titled: “Acquisition of the 5.4Moz Au Eq Rogozna Gold Project” for full details regarding the Copper Canyon Mineral Resource Estimate.

Shanac

Tonnes (Mt)

130

AuEq (g/t)

1.1

Au (g/t)

0.63

Cu (%)

0.1

Ag (g/t)

5.1

Pb (%)

0.2

Zn (%)

0.28

AuEq (Moz)

4.63

Au (Moz)

2.63

Cu (kt)

130

Ag (Moz)

21.3

Pb (kt)

260

Zn (kt)

364

Copper Canyon

Tonnes (Mt)

AuEq (g/t)

0.9

Au (g/t)

0.4

Cu (%)

0.3

AuEq (Moz)

0.81

Au (Moz)

0.36

Cu (kt)

Exploration History and Strategy

Historical exploration at Rogozna spans from the Roman era to modern times. Significant drilling activities were conducted between 1957 and 2022, including over 100,000 metres of diamond drilling, project -wide geophysics and geochemistry. These programs have defined an extensive pipeline of more than 20 exploration targets. Strickland’s exploration strategy includes:

Resource growth: Increasing and upgrading the existing Inferred Resources at Shanac (4.6Moz AuEq) and Copper Canyon (0.8Moz AuEq)
Resource definition: Delivering maiden Mineral Resources for the Medenovac and Gradina deposits and following up known mineralisation at Copper Canyon South and Cesme.
New drill-ready targets: Testing a suite of high-priority targets including the new Jezerska Reka discovery, Kotlovi, Veleiki and Red Creek.
Early-stage prospects: Following up new targets including Obradov Potok, Leca, Wolf Pond and Kaluder.

Strickland plans to undertake 35,000m of Resource definition and 15,000m of discovery drilling at the Rogozna Project in 2025

Disclaimer

Gold Equivalent Calculations (Rogozna Project)

Gold Equivalent calculations are based on the following metal prices;

For Shanac, Medenovac and Kotlovi (April 2023) (US$1,750/oz), copper (US$10,000/t), silver (US$25/oz), lead (US$2,200/t), zinc (US$3,000/t), and metallurgical recoveries of 80% for all metals.

For Copper Canyon (October 2023) AuEq grade based on metal prices of gold (US$1,750/oz), copper (US$10,000/t), and metallurgical recoveries of 80% for both metals.

For Shanac, Medenovac and Kotlovi the formula used for the AuEq is Au (g/t) + 1.78 x Cu(%) + 0.014 x Ag (g/t) +0.391 x Pb(%) + 0.533 x Zn(%).

For Copper Canyon the formula used for AuEq is Au (g/t) + 1.55 x Cu (%).

The Company considers that all metals have reasonable prospects of being recovered and sold.

Competent Persons Statement

The information in this presentation that relates to Exploration Results and Mineral Resources has been extracted from various STK ASX announcements and are available to view on the STK website at www.stricklandmetals.com.au or through the ASX website at www.asx.com.au (using ticker code “STK”).

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.