Catalina Resources Ltd (CTN.AX) Drilling Defines Continuous Gold Corridor at Palisade

Perth, May 5, 2026 AEST (ABN Newswire) - Catalina Resources Limited (ASX:CTN) is pleased to announce that it has received all assay results from its recently completed ~8,452m drilling program across its Central Yilgarn Projects at Evanston and Yerilgee.

Highlights

- All assay results received across Evanston and Yerilgee, confirming consistent gold mineralisation across multiple prospects

- Strong strike rate with 33 of 69 holes returning >0.3 g/t Au, including 70 samples >0.5 g/t Au, demonstrating consistent mineralisation across the corridor

- Results from Snowflake extend mineralisation along strike and confirm shallow gold intersections, including:

- 2m @ 1.70 g/t Au from 12m (26YGRC014)
- 1m @ 1.67 g/t Au from 13m (26YGRC015)
- 4m @ 0.69 g/t Au from 39m to end of hole (26YGRC016)

- Shallow, continuous gold mineralisation defined across multiple prospects, highlighted by 48m @ 2.61 g/t Au from 15m(1),(2).

- Palisade Gold Project established, consolidating Chicken Little, Snowflake, T8 and Megatron into a 12-14 km mineralised corridor

- Clear potential to expand with substantial untested strike remaining at Megatron including historical result of 9m @ 2.6 g/t Au from 23m (incl. 3m @ 7.1 g/t Au)(1)

Drilling across Evanston and Yerilgee confirmed consistent gold mineralisation across multiple prospects, with 33 of 69 holes returning >0.3 g/t Au from program, including 113 mineralised samples, of which 70 returned grades >0.5 g/t Au (refer Appendix 1* for full sample details).

Combined with historical data, these results define a 12-14 km structurally controlled greenstone belt hosting deposits at the northern and southern extents, while the central corridor remains underexplored. On this basis, the Company has established the Palisade Gold Project, consolidating Chicken Little, Snowflake, Megatron and T8 into a single exploration framework (figure 1*).

On the basis of this consolidated dataset, Catalina has defined Exploration Targets (reported in accordance with the JORC Code) and established the Palisade Gold Project, integrating multiple mineralised centres into a single corridor-scale exploration framework. The aggregate Exploration Targets, defined across Evanston and Yerilgee, range from approximately 60,000 to 330,000 ounces of gold at grades ranging from 0.76 g/t Au to 3.08 g/t Au.

The potential quantity and grade of the Exploration Targets are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource.

Executive Director Ross Cotton commented:

"These results mark an important step forward for Catalina, with the completion of drilling across Evanston and Yerilgee providing a consolidated view of mineralisation across the Central Yilgarn Project.

Importantly, with results now received from Viper, Leghorn, Chicken Little, Snowflake and T8, we can assess the project at scale rather than as a series of individual prospects.

This dataset supports Exploration Targets of approximately 60,000 to 330,000 ounces of gold at grades of 0.76 g/t Au to 3.08 g/t Au, representing the combined conceptual range across Evanston and Yerilgee.

We have also established the Palisade Gold Project, bringing together the Yerilgee prospects into a single, coherent corridor and providing a clear framework to advance exploration.

These Exploration Targets provide a meaningful foundation at this stage, with clear scope for growth as we continue to test multiple untested targets along the corridor."

DRILLING CAMPAIGN OVERVIEW

Catalina's Phase 1 drilling program comprised ~8,452 metres of RC drilling across 69 holes at the Evanston and Yerilgee Projects, designed to test priority targets and evaluate the broader gold potential of the Central Yilgarn tenure (figure 2*).

The program is now complete, with most assay results received and the dataset sufficiently advanced to support project-scale geological interpretation. Drilling returned consistent gold mineralisation across multiple prospects, with 33 of 69 holes intersecting >0.3 g/t Au, comprising 113 mineralised samples, of which 70 samples returned grades >0.5 g/t Au.

Overall, the program has:

- Confirmed the presence and extension of gold mineralisation across multiple target areas

- Demonstrated a strong strike rate across early-stage drilling with mineralisation intersected in approximately 48% of holes

- Provided a consistent dataset to support systematic evaluation of mineralisation

- Established a solid foundation for project-scale interpretation and follow-up targeting

- Supported the definition of aggregate Exploration Targets (~60,000 to 330,000 ounces of gold) across the Palisade Gold Project and Evanston, representing the combined conceptual range across all prospects

SIGNIFICANT RESULTS OVERVIEW

Drilling across the Yerilgee and Evanston Projects has returned consistent gold mineralisation across multiple prospects.

At Yerilgee, drilling has defined zones of shallow, high-grade mineralisation, highlighted by results from Chicken Little, where broad mineralised intervals and internal high-grade zones have been intersected, including a previous 48m @ 2.61 g/t Au(2) intercept from 15m that remains open at depth.

At T8, located approximately 14 km southeast of Chicken Little, drilling has expanded the mineralised footprint, with supergene mineralisation identified within saprolite, and primary mineralisation within the banded iron formation (BIF) and amphibolite indicating a structurally controlled system(3).

Final assay results have now been received, completing the dataset for Snowflake and Chicken Little. This has enabled an updated interpretation of the controls on mineralisation at Chicken Little and extended the known mineralisation by approximately 50m to the north and south at Snowflake.

The new results also indicate that mineralisation at Snowflake remains open along strike. At Evanston, drilling at the Viper Prospects(4) and Leghorn(5) has confirmed gold mineralisation from near surface through to depth, demonstrating continuity along strike and at depth.
While mineralisation at Evanston is less well defined than at Yerilgee, results confirm a persistent gold system that warrants further evaluation to understand the controls on mineralisation. Significant intersections from all prospects are summarised in Appendix 1*.

SNOWFLAKE

Historical exploration identified Snowflake as being ~800m x 200m gold and bismuth in soil anomaly associated with secondary N-S trending structure. Historic drilling high grade gold mineralisation at surface ([email protected]/t Au from surface including [email protected]/t Au(1)) and previous shallow AC drilling did not fully test the mineralisation at depth.

As part of the 2026 campaign 11 holes for a total of 462 metres were drilled across Snowflake (figure 3*). Full details of the collar locations and associated results are contained within Annexure 1.

As part of the 2026 campaign drilling on two sections at Snowflake intersected narrow zones (approximately 1- 4 metres) of low to moderate gold mineralisation, which are interpreted to show continuity between drill holes.

Drill Line One (26YGRC013-26YGRC016)

Drilling on two sections at Snowflake (Sections A and B) intersected narrow zones of low to moderate gold mineralisation, which are interpreted to show continuity between drill holes. The stratigraphy is interpreted to dip moderately to the west, and at this early-stage mineralisation is interpreted to broadly follow the dip of the porphyry units however, this interpretation remains conceptual.

An alternative structural interpretation is that mineralisation may be controlled by a shallow-dipping thrust structure rather than shear zones parallel to stratigraphy (figure 4*). Under this interpretation, the thrust is considered to potentially surface to the west prior to reaching YGRC013.

On section B (YGRC010 to YGRC012), mineralisation was intersected in similarly narrow zones at approximately 18 metres depth, with low to moderate gold grades (approximately 0.5-0.8 g/t Au). An exception occurs in YGRC010, which returned a broader intersection of 4 metres at 0.7 g/t Au from approximately 38 metres depth. The geometry and distribution of mineralised intervals suggest the possibility of more than one mineralised system (figure 5*).

CHICKEN LITTLE

Drilling at the Chicken Little prospect identified structurally controlled gold mineralisation along a shear-related system, with mineralisation occurring in both shear zones and BIF. Narrow and lower-grade mineralised intervals intersected in parts of the drilling are interpreted to lie within structurally compressed portions of the shear, where the mineralised zone splits into multiple narrow shears.

Improved mineralisation appears to be associated with zones of structural dilation, particularly where the shear interacts with BIF units adjacent to a porphyry contact (figure 6*). Geological interpretation, supported by magnetic data, suggests the presence of a structural jog north of the main drill line, which may have created a favourable dilation zone for gold deposition.

A priority target area has been identified approximately 50 metres north and south of existing drilling, where a potential dilation zone within the mineralised shear is interpreted to extend for up to 100 metres along strike (figure 7*). As zones of structural dilation commonly represent sites of enhanced fluid flow and mineral deposition, this area is considered prospective for follow-up drilling to test for improved mineralisation.

South of the interpreted dilation zone, drilling has intersected the main mineralised shear; however, mineralisation to date is interpreted to be hosted within structurally compressed, anastomosed portions of the system.

The shear is interpreted to plunge south and deepen, with the southernmost drilling intersecting BIF units that may lie west of the most prospective position. This geometry suggests that more favourable dilation-related positions for mineralisation may occur further east and at depth in the southern area, which remains under-tested and prospective for future drilling.

CONCEPTUAL EXPLORATION TARGETS

Catalina has completed a high-level technical review of drilling, geological interpretation and supporting datasets across the Yerilgee and Evanston Projects, including the Chicken Little, Snowflake, T8, Leghorn and Viper South prospects. This work has defined conceptual Exploration Targets intended to illustrate the potential scale of mineralisation and to guide ongoing exploration and drilling priorities.

The Exploration Targets are presented as ranges reflecting uncertainty associated with drill density, geological continuity and grade distribution.

Exploration Target Basis

- The lower-end (minimum case) of each Exploration Target at Evanston (Leghorn and Viper) are constrained to areas supported by existing drilling and assumes mineralised continuity only where demonstrated by drill intersections. Representative true widths and grades are derived from length-weighted averages of significant intercepts, with conservative assumptions applied to strike length, down-dip extent and number of mineralised lenses. No allowance has been made for strike or depth extensions beyond current drilling.

- Preliminary interpretive modelling and grade shell development was undertaken across Chicken Little, Snowflake and T8 (Yerilgee) as part of early-stage evaluation. This work was not progressed to a Mineral Resource Estimate due to limitations in drill density and confidence in geological continuity. Outputs from this work were used solely to inform conservative lower-end assumptions applied in defining the Exploration Targets and should not be interpreted as Mineral Resources.

- The upper-end (maximum case) reflects conceptual upside associated with potential strike extensions supported by surface gold geochemistry, geophysical data and geological interpretation, as well as the possibility of higher-grade domains consistent with the upper range of drilling results. Further drilling is required to test strike continuity, depth extent and grade distribution.

The potential quantity and grade of the Exploration Targets are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in the estimation of a Mineral Resource.

Geological Summary and Key Results

At Yerilgee, drilling has defined zones of shallow gold mineralisation across multiple prospects.

At Chicken Little, mineralisation is structurally controlled within a shear-related system and preferentially developed where the shear interacts with banded iron formation (BIF), with broad mineralised intervals and internal higher-grade zones intersected, including 48m at 2.61 g/t Au from 15m, which remains open at depth (Figure 8*). Geological interpretation supported by magnetic data indicates potential dilation zones north and south of current drilling that represent priority targets for follow-up exploration.

At Snowflake, drilling and surface geochemical data indicate gold mineralisation with an ambiguous geometry, but mineralisation is most likely shear-hosted, with subordinate sub-parallel structures analogous to those observed at Chicken Little. Mineralisation is interpreted to be structurally controlled rather than lithologically bound, and current drilling density is insufficient to fully resolve geometry and continuity (figure 9*). This interpretation provides a consistent geological framework for defining conceptual Exploration Targets and guiding future drill testing along strike and down-dip.

At T8, drilling has expanded the mineralised footprint, intersecting supergene gold mineralisation within saprolite and primary gold mineralisation (figure 10*) hosted within BIF and amphibolite units, supporting a stratigraphically controlled mineralised system with potential continuity beyond the currently drilled area (figure 11*).

At Evanston, drilling at Leghorn and the Viper prospects has confirmed gold mineralisation from near surface to depth, demonstrating a persistent gold system across the project area. While mineralisation is less well defined than at Yerilgee, results support continued evaluation to refine geological controls and test strike and depth extensions.

At Leghorn, gold mineralisation is hosted within a mafic stratigraphic sequence comprising basalt, amphibolite and mafic schists, consistent with the Evanston Project geology. The mineralised system is structurally controlled, with conceptual upside supported by coherent surface gold soil anomalies and geophysical continuity, including an isolated intercept of 1m at 2.93 g/t Au at end-of-hole on the southern drill section, indicating mineralisation may remain open down-dip and along strike (refer to previous announcement).

At Viper South, mineralisation is structurally controlled within bedding-parallel shear zones preferentially developed in compressional segments and occurs within amphibolite and BIF units. Conceptual upside is supported by surface gold geochemistry, magnetic data and an isolated intercept of 1m at 2.45 g/t Au on a drill line approximately 700 m north of Viper South, indicating potential strike continuity, although further drilling is required to test this interpretation (refer to previous announcement).

PALISADE GOLD PROJECT

When considered collectively, results from Chicken Little, Snowflake, T8 and Megatron demonstrate that mineralisation occurs within discrete deposits along a continuous corridor extending approximately 12-14 km with significant portions of the corridor remaining untested and prospective for further exploration.

The consolidated dataset supports a development concept focused on multiple shallow mineralised centres, with potential for small to moderate open-pit operations across the Palisade corridor.

On this basis, Catalina has established the Palisade Gold Project, bringing these deposits together into a single, integrated exploration and development framework.

This integrated interpretation highlights:

- Multiple mineralised deposits aligned along a continuous structural trend

- Mineralisation remains open along strike and at depth across multiple prospects

- Significant portions of the corridor remain untested, presenting clear opportunities for further discovery

NEXT STEPS

Catalina is advancing geological modelling and data validation in preparation for Inferred Mineral Resource Estimates at three small to moderate gold deposits, defined over 100-600m of strike, while continuing to assess exploration upside across the wider Palisade corridor.

Key next steps include:

- Integration of recent drilling and historical datasets to develop a geological and structural model for each deposit

- Priority progression towards an Inferred Mineral Resource Estimate (MRE) at Chicken Little, Snowflake and T8

- Ongoing exploration will continue to test extensions to known mineralisation across Evanston and Yerilgee

- Targeted drilling at Megatron, aimed at validating historical results and assessing potential inclusion in future resource updates

- Ongoing geological evaluation of untested portions of the 12-14 km Palisade corridor to delineate additional deposits.

- Undergoing geological interpretation at Evanston following receipt of the final batch of approximately 270 outstanding assay results

*To view full release, including tables and figures, please visit:
https://abnnewswire.net/lnk/DOL186QY

About Catalina Resources Ltd

Catalina Resources Ltd (ASX:CTN) is a mineral exploration company focused on discovering and advancing gold and multi-commodity projects in tier-one jurisdictions. Backed by a technically experienced team with deep industry knowledge, Catalina is committed to creating value through focused exploration across highly prospective and underexplored regions in Western Australia.

The company's core assets are located in the Central Yilgarn and Laverton regions, two of the most historically productive and geologically endowed gold provinces in the country. Both projects have demonstrated the potential to host significant mineralisation, with early-stage drilling already delivering promising results.

  

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