# AKA: Investor Presentation - Microcap Investment Conference Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03155101 Publisher: asx Original announcement: 2026-10-20T23:06:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-21T00:13:19.216Z Atlas analysis updated: 2026-10-21T00:13:19.216Z - Company: Aureka Limited - Ticker: AKA - Exchange: ASX - Region: Victoria, Australia - Primary commodity: Gold - Secondary commodities: Silver, Lead - Document categories: Resource update, Drill results, Agreement transaction, Metallurgy - Extracted: 2026-10-21 00:13:19 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Aureka Limited presented an investor update highlighting its transition to a high-grade gold producer in Victoria, Australia. The company reported an increase in its Inferred JORC Resources to 455koz gold across its Irvine and Comstock projects and detailed the acquisition of the Wedderburn Mill and Fiddlers Creek Mine, which commenced production in July 2025. The presentation also included recent high-grade drill results from Comstock and Fiddlers Creek, alongside plans for near-term growth and exploration. Reasoning: Aureka Limited's investor presentation highlights a strong growth trajectory, marked by a substantial increase in gold resources, the strategic acquisition of producing assets, and promising high-grade drill results. While the resources are currently Inferred, the overall picture is positive with clear plans for production and further exploration. - Positive factor: Significant increase in total JORC Inferred Resources to 455koz gold, representing 50% growth since ASX debut. - Positive factor: Strategic acquisition of an operating mill \(Wedderburn\) and mine \(Fiddlers Creek\) transitions the company to a gold producer. - Positive factor: Recent high-grade drill intercepts from Comstock and Fiddlers Creek demonstrate ongoing exploration success and potential for resource expansion. - Positive factor: The company is debt-free with a clear growth strategy and near-term catalysts. - Negative factor: All reported Mineral Resources are in the Inferred category, indicating a lower level of geological confidence. - Negative factor: Some drill results presented are legacy/historical, and the Fiddlers Creek production data is unaudited. - Negative factor: Exploration Targets are conceptual and do not constitute Mineral Resources. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 29 ## Classification and evidence **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: All reported Mineral Resources are explicitly stated as 'all Inferred' and '100% inferred'. Evidence · text > Mineral Resources – Aureka Mineral Resources \(all Inferred\) **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: Mineral Resources and Exploration Targets are stated to be prepared and reported in accordance with the 2012 edition of the JORC Code. Evidence · text > The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The Competent Person Statement on page 2 confirms that the information relating to Mineral Resources and Exploration Targets is extracted from prior ASX announcements and that the form and context of the Competent Persons’ findings have not been materially modified. Mr Jozef Story is named as the Competent Person for Fiddlers Creek exploration results. Evidence · text > The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Original Announcements. ... The information in this presentation that relates to the geology and mineralisation of the Fiddlers Creek Mine and its surrounding tenure is based on, and fairly represents, information compiled or reviewed by Mr Jozef Story, Exploration Manager of Aureka and a Member of the Australian Institute of Geoscientists \(MAIG\) \(\#10079\). Mr Story has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’, and consents to the inclusion in this presentation of the matters based on his information in the form and context in which they appear. **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The company states an 'Increase in Inferred JORC Resources to 455koz 50% higher than ASX debut' from 304koz. Evidence · text > Increase in Inferred JORC Resources to 455koz 50% higher than ASX debut **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades are explicitly stated for each resource category in the Mineral Resources table. Evidence · table > ≥0.5 Context: Resolution Open Pit **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept FKH08 includes 0.06m @ 786.1 g/t Au, which is an exceptionally high grade. Evidence · table > 0.06m @ 786.1 g/t Au from 20.13m Context: FKH08 **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The drill results for Fiddlers Creek are explicitly labeled as 'legacy drill intercepts \(previously not reported to ASX\)' and 'Legacy results not previously reported in an ASX context'. Evidence · text > High-grade legacy drill results Refer ASX release 30 September 2026: Drilling Commences at Fiddlers Creek. Legacy results not previously reported in an ASX context. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The Competent Person Statement refers to JORC Code compliance and Mr Jozef Story's review of exploration results, implying QA/QC procedures are in place. Evidence · text > The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 29. Some facts used in scoring do not have a stored record. ## Drill Results (18) ### FKH08 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-4) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FKH08 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 40.48 - Grade Unit: g/t - Intercept: 1.19 m - From: 19 m - To: 20.19 m - Intercept Depth: 19 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FKH08:19-20.19 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy high-grade gold intercept from Fiddlers Creek, including a bonanza sub-interval, indicates strong mineralization potential, though it is not a new result. - Positive factor: Very high-grade gold intercept \(40.48 g/t Au\) for an underground target. - Positive factor: Includes an exceptional bonanza grade sub-interval \(786.1 g/t Au\). - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is narrow \(1.19m\). Evidence · table > 40.48 g/t Au Context: FKH08 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FKH08 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-5) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FKH08 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 786.1 - Grade Unit: g/t - Intercept: 0.06 m - From: 20.13 m - To: 20.19 m - Intercept Depth: 20.13 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FKH08:20.13-20.19 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy bonanza-grade gold intercept from Fiddlers Creek highlights very high-grade mineralization, despite its narrow width and historical nature. - Positive factor: Exceptional bonanza grade gold intercept \(786.1 g/t Au\). - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is extremely narrow \(0.06m\). Evidence · table > 786.1 g/t Au Context: FKH08 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FDDH008 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-6) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FDDH008 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 31.09 - Grade Unit: g/t - Intercept: 1.57 m - From: 135.14 m - To: 136.71 m - Intercept Depth: 135.14 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FDDH008:135.14-136.71 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy high-grade gold intercept from Fiddlers Creek, including a very high-grade sub-interval, indicates strong mineralization potential at depth, though it is not a new result. - Positive factor: High-grade gold intercept \(31.09 g/t Au\) for an underground target. - Positive factor: Includes a very high-grade sub-interval \(134 g/t Au\). - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is narrow \(1.57m\). Evidence · table > 31.09 g/t Au Context: FDDH008 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FDDH008 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-7) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FDDH008 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 134 - Grade Unit: g/t - Intercept: 0.26 m - From: 136.45 m - To: 136.71 m - Intercept Depth: 136.45 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FDDH008:136.45-136.71 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy very high-grade gold intercept from Fiddlers Creek highlights strong mineralization, despite its narrow width and historical nature. - Positive factor: Very high-grade gold intercept \(134 g/t Au\). - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is very narrow \(0.26m\). Evidence · table > 134 g/t Au Context: FDDH008 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FDDH012 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-8) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FDDH012 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 21.21 - Grade Unit: g/t - Intercept: 1.87 m - From: 97.23 m - To: 99.1 m - Intercept Depth: 97.23 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FDDH012:97.23-99.1 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy high-grade gold intercept from Fiddlers Creek, including a very high-grade sub-interval, indicates strong mineralization potential, though it is not a new result. - Positive factor: High-grade gold intercept \(21.21 g/t Au\) for an underground target. - Positive factor: Includes a very high-grade sub-interval \(156 g/t Au\). - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is narrow \(1.87m\). Evidence · table > 21.21 g/t Au Context: FDDH012 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FDDH012 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-9) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FDDH012 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 156 - Grade Unit: g/t - Intercept: 0.19 m - From: 98.91 m - To: 99.1 m - Intercept Depth: 98.91 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FDDH012:98.91-99.1 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy very high-grade gold intercept from Fiddlers Creek highlights strong mineralization, despite its narrow width and historical nature. - Positive factor: Very high-grade gold intercept \(156 g/t Au\). - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is very narrow \(0.19m\). Evidence · table > 156 g/t Au Context: FDDH012 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FKH031 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-10) Fiddlers Creek · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: FKH031 - Project: Fiddlers Creek - Commodity: silver - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 1600 - Grade Unit: g/t - Intercept: 0.35 m - From: 23.35 m - To: 23.7 m - Intercept Depth: 23.35 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FKH031:23.35-23.7 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy exceptional high-grade silver intercept from Fiddlers Creek matches prior best results, indicating significant silver mineralization, though it is not a new result. - Positive factor: Exceptional high-grade silver intercept \(1600 g/t Ag\). - Positive factor: Matches the best prior silver intercept for Fiddlers Creek. - Negative factor: Result is legacy data, not new. - Negative factor: Intercept length is very narrow \(0.35m\). Evidence · table > 1,600 g/t Ag Context: FKH031 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### FKH031 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-11) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: FKH031 - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 1.2 - Grade Unit: g/t - Intercept: 0.35 m - From: 23.35 m - To: 23.7 m - Intercept Depth: 23.35 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: FKH031:23.35-23.7 - Mining Method: underground #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This legacy gold intercept from Fiddlers Creek is low-grade for an underground target and narrow, offering limited positive impact, and is not a new result. - Negative factor: Result is legacy data, not new. - Negative factor: Gold grade \(1.2 g/t Au\) is below the project average and not particularly high-grade for an underground target. - Negative factor: Intercept length is very narrow \(0.35m\). Evidence · table > 1.2 g/t Au Context: FKH031 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NED032 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-12) Comstock Gold & · gold #### Identity - Hole ID: NED032 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 8.9 - Grade Unit: g/t - Intercept: 4.4 m - From: 102.8 m - To: 107.2 m - Intercept Depth: 102.8 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED032:102.8-107.2 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new high-grade gold intercept from Comstock, with a good width and including a very high-grade sub-interval, represents a strong exploration result. - Positive factor: Strong gold grade \(8.9 g/t Au\) for an open-pit target. - Positive factor: Good intercept length \(4.4m\). - Positive factor: Includes a very high-grade sub-interval \(65.3 g/t Au\). - Positive factor: New drill result, contributing to current exploration success. Evidence · text > 4.4m @ 8.9g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED032 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-13) Comstock Gold & · silver #### Identity - Hole ID: NED032 - Project: Comstock Gold & - Commodity: silver - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 57.8 - Grade Unit: g/t - Intercept: 4.4 m - From: 102.8 m - To: 107.2 m - Intercept Depth: 102.8 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED032:102.8-107.2 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new silver intercept from Comstock is of moderate grade, contributing to the overall mineralization picture but not representing a standout result for silver. - Positive factor: New drill result, contributing to current exploration success. - Negative factor: Silver grade \(57.8 g/t Ag\) is moderate and significantly below the project's best prior intercept \(650 g/t Ag\). Evidence · text > 57.8g/t Ag #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED032 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-14) Comstock Gold & · gold #### Identity - Hole ID: NED032 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 65.3 - Grade Unit: g/t - Intercept: 0.3 m - From: 106.2 m - To: 106.5 m - Intercept Depth: 106.2 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED032:106.2-106.5 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new very high-grade gold intercept from Comstock, though narrow, indicates strong localized mineralization and is a positive exploration result. - Positive factor: Very high-grade gold intercept \(65.3 g/t Au\). - Positive factor: New drill result, contributing to current exploration success. - Negative factor: Intercept length is very narrow \(0.3m\). Evidence · text > 0.3m @ 65.3g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED034 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-15) Comstock Gold & · gold #### Identity - Hole ID: NED034 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 5.65 - Grade Unit: g/t - Intercept: 0.8 m - From: 19.25 m - To: 20.05 m - Intercept Depth: 19.25 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED034:19.25-20.05 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new shallow gold intercept from Comstock is of moderate grade and narrow width, providing a positive but not exceptional exploration result. - Positive factor: New drill result, contributing to current exploration success. - Positive factor: Shallow intercept, potentially amenable to open-pit mining. - Negative factor: Intercept length is narrow \(0.8m\). - Negative factor: Gold grade \(5.65 g/t Au\) is moderate for an open-pit target. Evidence · text > 0.8m @ 5.65g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED034 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-16) Comstock Gold & · gold #### Identity - Hole ID: NED034 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 57 - Grade Unit: g/t - Intercept: 0.7 m - From: 45.5 m - To: 46.2 m - Intercept Depth: 45.5 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED034:45.5-46.2 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new very high-grade gold intercept from Comstock, though narrow, indicates strong localized mineralization and is a positive exploration result. - Positive factor: Very high-grade gold intercept \(57 g/t Au\). - Positive factor: New drill result, contributing to current exploration success. - Negative factor: Intercept length is very narrow \(0.7m\). Evidence · text > 0.7m @ 57g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED035 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-17) Comstock Gold & · gold #### Identity - Hole ID: NED035 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 5.78 - Grade Unit: g/t - Intercept: 2.65 m - From: 20.5 m - To: 23.15 m - Intercept Depth: 20.5 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED035:20.5-23.15 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new shallow gold intercept from Comstock, with a moderate grade and including a high-grade sub-interval, represents a positive exploration result. - Positive factor: New drill result, contributing to current exploration success. - Positive factor: Includes a high-grade sub-interval \(34.2 g/t Au\). - Positive factor: Shallow intercept, potentially amenable to open-pit mining. - Negative factor: Gold grade \(5.78 g/t Au\) is moderate for an open-pit target. Evidence · text > 2.65m @ 5.78g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED035 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-18) Comstock Gold & · gold #### Identity - Hole ID: NED035 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 34.2 - Grade Unit: g/t - Intercept: 0.35 m - From: 21.5 m - To: 21.85 m - Intercept Depth: 21.5 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED035:21.5-21.85 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new high-grade gold intercept from Comstock, though narrow, indicates strong localized mineralization and is a positive exploration result. - Positive factor: High-grade gold intercept \(34.2 g/t Au\). - Positive factor: New drill result, contributing to current exploration success. - Negative factor: Intercept length is very narrow \(0.35m\). Evidence · text > 0.35m @ 34.2g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED033 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-19) Comstock Gold & · gold #### Identity - Hole ID: NED033 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 21.3 - Grade Unit: g/t - Intercept: 0.3 m - From: 35.6 m - To: 35.9 m - Intercept Depth: 35.6 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED033:35.6-35.9 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new high-grade gold intercept from Comstock, though very narrow, indicates strong localized mineralization and is a positive exploration result. - Positive factor: High-grade gold intercept \(21.3 g/t Au\). - Positive factor: New drill result, contributing to current exploration success. - Negative factor: Intercept length is very narrow \(0.3m\). Evidence · text > 0.3m @ 21.3g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED033 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-20) Comstock Gold & · gold #### Identity - Hole ID: NED033 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 5.63 - Grade Unit: g/t - Intercept: 1.9 m - From: 56.5 m - To: 58.4 m - Intercept Depth: 56.5 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED033:56.5-58.4 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new gold intercept from Comstock, with a moderate grade and including a high-grade sub-interval, represents a positive exploration result. - Positive factor: New drill result, contributing to current exploration success. - Positive factor: Includes a high-grade sub-interval \(11.1 g/t Au\). - Negative factor: Gold grade \(5.63 g/t Au\) is moderate for an open-pit target. Evidence · text > 1.9m @ 5.63g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NED033 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-drill-facts-21) Comstock Gold & · gold #### Identity - Hole ID: NED033 - Project: Comstock Gold & - Commodity: gold - Region: australia\_vic - Reported Region: australia\_vic - Ticker: AKA #### Geometry - Grade: 11.1 - Grade Unit: g/t - Intercept: 0.9 m - From: 56.5 m - To: 57.4 m - Intercept Depth: 56.5 m #### Classification - Deposit Type: orogenic - Sample Type: drill - Group ID: NED033:56.5-57.4 - Mining Method: open\_pit #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This new high-grade gold intercept from Comstock indicates strong localized mineralization and is a positive exploration result. - Positive factor: High-grade gold intercept \(11.1 g/t Au\). - Positive factor: New drill result, contributing to current exploration success. Evidence · text > 0.9m @11.1g/t Au #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (9) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-0) Irvine · gold #### Identity - Project: Irvine - Commodity: gold - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Competent Person\(s\) as per Original Announcements - Resource group id: resource:d227476dae3ebc1a30da - Deposit or zone: Resolution Open Pit #### Resource Data - Category: inferred - Tonnes: 1775000 - Grade: 2.16 - Grade Unit: g/t - Contained Metal: 123000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-06-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This Inferred resource for the Resolution Open Pit contributes to the company's overall gold inventory, reported under JORC standards, but its effective date is from a prior announcement. - Positive factor: Contributes to the overall increase in company's gold resources. - Positive factor: Reported under JORC Code 2012, indicating a high standard of reporting. - Negative factor: Resource is in the Inferred category, which has lower geological confidence. - Negative factor: Effective date is from a prior announcement, so the novelty for this document is moderate. Evidence · table > 1,775,000 Context: Resolution Open Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-1) Irvine · gold #### Identity - Project: Irvine - Commodity: gold - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Competent Person\(s\) as per Original Announcements - Resource group id: resource:f360edea47013cc19fbf - Deposit or zone: Adventure Open Pit #### Resource Data - Category: inferred - Tonnes: 680000 - Grade: 1.85 - Grade Unit: g/t - Contained Metal: 40300 - Contained Unit: oz - Cutoff Grade: 0.6 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2021-03-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This Inferred resource for the Adventure Open Pit is part of the company's total gold resources, but it is based on an older estimate from March 2021. - Positive factor: Contributes to the overall increase in company's gold resources. - Positive factor: Reported under JORC Code 2012, indicating a high standard of reporting. - Negative factor: Resource is in the Inferred category, which has lower geological confidence. - Negative factor: Effective date is from a prior announcement \(March 2021\), making it historical data in this context. Evidence · table > 680,000 Context: Adventure Open Pit #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.6 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-2) Irvine · gold #### Identity - Project: Irvine - Commodity: gold - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Competent Person\(s\) as per Original Announcements - Resource group id: resource:00c29398a0317b15b572 - Deposit or zone: Resolution Underground #### Resource Data - Category: inferred - Tonnes: 2335000 - Grade: 3.13 - Grade Unit: g/t - Contained Metal: 235000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2026-06-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This Inferred resource for the Resolution Underground project adds a substantial amount of higher-grade gold to the company's inventory, reported under JORC standards, but is based on a prior estimate. - Positive factor: Contributes significantly to the overall increase in company's gold resources. - Positive factor: Reported under JORC Code 2012, indicating a high standard of reporting. - Positive factor: Higher grade \(3.13 g/t Au\) for an underground target. - Negative factor: Resource is in the Inferred category, which has lower geological confidence. - Negative factor: Effective date is from a prior announcement, so the novelty for this document is moderate. Evidence · table > 2,335,000 Context: Resolution Underground #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-3) Comstock \(St Arnaud\) · gold #### Identity - Project: Comstock \(St Arnaud\) - Commodity: gold - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Competent Person\(s\) as per Original Announcements - Resource group id: resource:5727518fd305f32b16a6 - Deposit or zone: Comstock #### Resource Data - Category: inferred - Tonnes: 1450000 - Grade: 1.21 - Grade Unit: g/t - Contained Metal: 56500 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-06-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: This Inferred resource for the Comstock project adds to the company's gold inventory, reported under JORC standards, but is based on an older estimate from June 2025. - Positive factor: Contributes to the overall increase in company's gold resources. - Positive factor: Reported under JORC Code 2012, indicating a high standard of reporting. - Negative factor: Resource is in the Inferred category, which has lower geological confidence. - Negative factor: Effective date is from a prior announcement \(June 2025\), making it historical data in this context. Evidence · table > 1,450,000 Context: Comstock \(St Arnaud\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-22) Wedderburn Mill & Fiddlers Creek Mine #### Identity - Project: Wedderburn Mill & Fiddlers Creek Mine - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Resource scope - Resource group id: resource:5a09d39a2784296d092c #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The acquisition of the Wedderburn Mill and Fiddlers Creek Mine is a highly material and positive event, immediately transitioning Aureka into a gold producer with integrated processing capabilities and secured sales. - Positive factor: Transforms the company from explorer to producer. - Positive factor: Provides immediate production and cash flow. - Positive factor: Includes a fully permitted mill with spare capacity. - Positive factor: Secures an offtake agreement for 100% of Fiddlers Creek output. Evidence · text > Agreement to acquire Wedderburn Mill & Fiddlers Creek Mine #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-23) Fiddlers Creek Mine #### Identity - Project: Fiddlers Creek Mine - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Resource scope - Resource group id: resource:ad607badd5d3f825f83b #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The offtake agreement for 100% of Fiddlers Creek Mine output provides immediate revenue certainty and de-risks the initial production phase, representing a significant positive for the company. - Positive factor: Secures sales for 100% of Fiddlers Creek Mine output. - Positive factor: Provides prompt payment terms. - Positive factor: Reduces market risk for initial production. Evidence · text > Market-based offtake agreement for 100% of Fiddlers Creek Mine output for 12 months, extendable #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-24) #### Identity - Ticker: AKA #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The successful share placement at 12c per share raised substantial capital, with a significant portion already issued, providing crucial funding for the company's transition to a producer. - Positive factor: Successfully raised significant capital \($5.65m\) to fund transition to producer. - Positive factor: Tranche 1 shares already issued, providing immediate funding. Evidence · text > Share Placement: $5.65m @ 12c Tranche 1 – $4.4m / 36.5m shares already issued #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-25) #### Identity - Ticker: AKA #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The planned Tranche 2 placement will provide additional capital at a consistent share price, further strengthening the company's financial position, pending shareholder approval. - Positive factor: Additional capital to be raised \($1.3m\) at the same price as Tranche 1. - Positive factor: Contributes to overall funding for company's growth. - Negative factor: Issuance of shares is subject to shareholder approval. Evidence · text > Tranche 2 - $1.3m \(10.6m shares subject to approval\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-resource-facts-26) #### Identity - Ticker: AKA #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The successful and oversubscribed Share Purchase Plan at 12c per share demonstrates strong investor confidence and provides additional capital for the company. - Positive factor: Successfully raised $1.6m through a Share Purchase Plan, exceeding target. - Positive factor: Indicates strong retail investor support. Evidence · text > Share Purchase Plan: $1.6m @ 12c \(shares issued\) \(exceeded target\) #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## Metallurgical Results (2) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-metallurgical-facts-27) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Recovery - Recovery: 86 % - Head Grade: 7 - Head Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The FY26 production results from Fiddlers Creek show successful initial gold production with good head grades and recoveries, although the data is historical and unaudited. - Positive factor: Demonstrates initial production from the Fiddlers Creek Mine. - Positive factor: Achieved a good average head grade of 7 g/t gold. - Positive factor: Average recoveries of 86% are solid, with a high of 91%. - Negative factor: Production data is historical \(FY26\) and unaudited. - Negative factor: Lower recoveries during mill commissioning indicate initial challenges. Evidence · text > FY26 Production \(12 months\): Average head grade mined and milled 7 g/t Total gold recovered in 12 months: 416 oz, 13 kg \(inclusive of lower recoveries during mill commissioning\) Average recoveries \(commissioning\): 86% Highest 91% ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/aka-investor-presentation-microcap-investment-conference--0e65559e-7e85-4cda-8370-f0846c5d4c65#fact-metallurgical-facts-28) Fiddlers Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Fiddlers Creek - Commodity: gold - Region: australia\_vic - Reported Region: Victoria, Australia - Ticker: AKA #### Recovery - Recovery: 86 % - Head Grade: 7 - Head Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The FY26 production results from Fiddlers Creek show successful initial gold production with good head grades and recoveries, although the data is historical and unaudited. - Positive factor: Demonstrates initial production from the Fiddlers Creek Mine. - Positive factor: Achieved a good average head grade of 7 g/t gold. - Positive factor: Average recoveries of 86% are solid, with a high of 91%. - Negative factor: Production data is historical \(FY26\) and unaudited. - Negative factor: Lower recoveries during mill commissioning indicate initial challenges. Evidence · text > FY26 Production \(12 months\): Average head grade mined and milled 7 g/t Total gold recovered in 12 months: 416 oz, 13 kg \(inclusive of lower recoveries during mill commissioning\) Average recoveries \(commissioning\): 86% Highest 91% ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.