The 22nd China Ferro-alloys International Conference, host ed by Ferro-Alloys.com, will be held on 20 May to 22 May, 2026 in Beijing city, China. We sincerely invite you jointly explore the development ferroalloys trend in 2026.  Why Attend?

[Ferro-Alloys.com] Major IP Survey Planned After Petrophysics Confirms Geophysical Response at Kuro – RC Drill Contract Awarded

Petrophysical testing of rock chips supports the use of Induced Polarisation surveys to identify extensions of high-grade manganese mineralisation beneath cover, ahead of planned RC drilling

 Highlights

• Petrophysical testing of seven manganese rock chip samples from the Kuro Prospect completed.

• Anomalously high chargeability values of 484 to 642 mV/V – well above the values for typical host rocks – confirm a very strong Induced Polarisation (IP) response.

• Initial Gradient Array IP (GAIP) survey planned to commence in April to screen the entire discovery area for extensions of the mineralised system ahead of drilling.

• Follow-up Dipole-Dipole IP (DDIP) lines to be completed over priority anomalies to provide additional depth information and better constrained targets for drill testing.

• Reverse Circulation (RC) drill contract awarded to Precision Exploration Drilling (PXD).

• Drilling targeted to commence late April-early May, subject to heritage clearance and weather.

Trek Metals Limited (ASX: TKM) (“Trek” or the “Company”) is pleased to report further recent progress with exploration activities at the Christmas Creek Project, including petrophysical results at the Kuro manganese discovery which have prompted the Company to initiate a major Induced Polarisation (IP) survey over the entire discovery area.

The upcoming planned geophysical survey will commence ahead of the Company’s maiden drill program, with the Reverse Circulation (RC) drilling contract now awarded to Precision Exploration Drilling (PXD).

Background – Kuro Manganese Discovery

The Kuro Prospect is located within Trek’s Christmas Creek Project in the Kimberley region of Western Australia, approximately 140km south-west of Halls Creek. Since its discovery in November 2025, systematic rock chip sampling has returned exceptionally high-grade manganese (Mn) assays of up to 60.1% Mn, with an average result of 50% Mn. The mineralised outcrop has been mapped over 750 metres of strike before disappearing beneath recent sand cover.

The system is interpreted to represent a hydrothermal manganese system analogous in style to the world-class Woodie Woodie manganese deposits of Western Australia. The key question now is to establish the extent of the mineralised system beneath cover, a question the Company intends to answer rapidly through geophysics and drilling.

The manganese mineralisation observed at surface has a very high density, with an average of 4.03g/cm3, which in significant volumes could present as a gravity high feature. Based on the high density of the manganese mineralisation, Trek undertook a detailed ground gravity survey which identified two strong gravity high anomalies.

Petrophysics – Electrical Properties of the Kuro Manganese Samples

Petrophysical testing was commissioned by Trek and completed by Terra Petrophysics on seven rock chip samples collected from the Kuro discovery area during the field program completed in late 2025. All seven samples were classified as manganese mineralisation and underwent measurement of key electrical, magnetic and physical properties relevant to geophysical exploration.

The data demonstrates a strong and remarkably consistent electrical signature across all the samples:

• Chargeability: anomalously high values of 484-642 mV/V across all seven samples

• Galvanic resistivity: very low values of 2-4 ohm-metres (Ωm) across all seven samples

• Inductive Conductivity: highly variably values, with three samples having no measurable conductivity and the other four returning elevated values of 19-36 S/m

• Dry Bulk Density: high to very high values of 3.31-4.47 g/cm3, consistent with high-grade manganese mineralization

Implications for Geophysical Surveying

The strong and consistent chargeability response across all seven Kuro samples, combined with low resistivity, confirms that the manganese mineralisation should be highly responsive to Induced Polarisation (IP) geophysical surveys. IP surveying detects the electrical chargeability contrast and is a well-established technique for mapping sulphide- and oxide-bearing mineralisation sub-surface.

Critically, the electrical and physical properties of the sampled manganese mineralisation at Kuro provide a clear geophysical contrast relative to the typical sedimentary host rocks of the Christmas Creek area. This underpins the Company’s confidence that IP and additional gravity surveying will be effective tools for detecting subsurface extensions to the mineralised system.

Final results from the helicopter-borne electromagnetic (EM) and magnetic surveying have been received, with data incorporated into the working models. No significant EM response was observed over the Kuro Prospect, however given the highly variable Inductive Conductivity values (including three samples with no response) in the petrophysical test work, these results are not unexpected.

Sample IDMGAEastMGANorthDry Bulk DensityAverage Galvanic ResistivityAverage ChargeabilityAverage Inductive Conductivity Physical PropertySample InformationElectrical Properties

Trek Metals CEO, Derek Marshall, said:

“The petrophysical results are extremely encouraging and demonstrate that the high-grade manganese mineralisation discovered at Kuro has a very strong electrical signature. The combination of very low resistivity and exceptional chargeability values confirms that the mineralisation is highly amenable to Induced Polarisation surveying, which provides us with a powerful tool to detect extensions to the mineral system beneath cover and rapidly generate high-quality drill targets.

“With the IP survey program now planned and the RC drill contract awarded, we are in an excellent position to rapidly advance Kuro towards its first drill test. Following our recent capital raise, which was strongly supported and welcomed a number of new institutional investors to the register, Trek is fully funded to execute this next phase of exploration. We are looking forward to providing investors with further updates as we move through this exciting phase of exploration.”

• [Editor:tianyawei]