Catalina Resources Ltd (CTN.AX) Secures District-Scale Silver Portfolio in WA

CATALINA SECURES DISTRICT-SCALE SILVER PORTFOLIO IN WESTERN AUSTRALIA

Perth, Mar 16, 2026 AEST (ABN Newswire) - Catalina Resources Limited (ASX:CTN) advised it has entered into a binding option agreement to acquire 100% of Spinifex Silver Pty Ltd, including its exploration licences located in the Eastern Goldfields and Pilbara regions of Western Australia (Figure 1*).

HIGHLIGHTS

- Binding agreement to acquire 100% of Spinifex Silver Pty Ltd, including District-scale silver portfolio covering ~265 km2 across the Fraser North and Nabberu projects

- Fraser North hosts multiple high-grade historical silver intercepts within a mineralised trend extending ~17.5 km, including historical intercepts up to 4m @ 816.5 g/t Ag from 8m

- Fraser North is located within the Albany-Fraser Orogen, host to major deposits including Nova-Bollinger

- Nabberu Project located in the Earaheedy Basin, prospective for SEDEX-style silver mineralisation within the Frere Formation

- Low-cost acquisition structure preserving capital while adding meaningful optionality to portfolio which includes Central-Yilgarn which recently returned 48m @ 2.61g/t Gold at the Chicken Little prospect

The proposed acquisition follows a period of strong operational and corporate progress for Catalina, with the Company advancing exploration across multiple projects while repositioning its portfolio to focus on scalable gold, copper and silver systems in Western Australia. Over the past four months Catalina has:

- Completed a Central Yilgarn drilling campaign, with the first batch of assays from the Chicken Little Prospect returning 48m @ 2.61 g/t Au from 15m, with additional assay results pending

- Executed an asset swap with Forrestania Resources, resulting in the acquisition of the Breakaway Dam Project, a confirmed VMS copper system where drilling is currently underway

- Reinterpreted the Beasley Creek Project as a Cu-Au VMS-style system, expanding the Company's copper exploration pipeline

- Secured the Aerosmith Project, adding a further prospective VMS copper target to the portfolio

- Acquired Auric North Pty Ltd, establishing a second district-scale gold exploration platform in Western Australia's Mid-West with multiple drill-ready targets and historical gold intercepts including 10m @ 1.43 g/t Au

- Strengthened the Company's balance sheet through a strategic placement with Newcam Minerals and the disposal of the NBR project

Executive Director, Ross Cotton, commented:

"Over the past four months Catalina has made significant progress advancing and reshaping its exploration portfolio. We have completed a major drilling campaign at Central Yilgarn, delivered a strong initial result from the Chicken Little Prospect of 48m @ 2.61 g/t Au from 15m, secured the Breakaway Dam VMS copper project where drilling is now underway, and expanded our exposure to copper through the Beasley Creek reinterpretation and the acquisition of the Aerosmith Project.

We have also added a second district-scale gold exploration platform through the acquisition of Auric North, while strengthening the Company's balance sheet through corporate initiatives including the Newcam placements and the disposal of the NBR project in Tasmania adding approximately $1.73M AUD to the Company's cash balance.

The acquisition of Spinifex Silver represents the next step in this strategy, adding district-scale silver exposure alongside our gold and copper projects. With drilling underway at Breakaway Dam, further assay results pending from the Central Yilgarn program and multiple exploration programs advancing across the portfolio, Catalina is entering a period of sustained exploration activity and news flow across several projects."

Transaction Summary

Under the binding agreement Catalina has agreed to acquire 100% of Spinifex Silver Pty Ltd. Key terms include:

- Consideration payable will comprise an immediate issue to the vendors or nominees of $250,000 fully paid ordinary shares in the Company on a 5-day VWAP.

- Standard conditions precedent including due diligence and regulatory approvals.

Catalina considers the overall structure to be cost-effective relative to the size, location and geological setting of the portfolio, while preserving capital.

Project Significance

The Spinifex Silver Project provides Catalina with exposure to a district-scale silver exploration opportunity within Western Australia. The portfolio comprises two project areas covering approximately 265 km2 and includes the Fraser North Project, where historical drilling has confirmed shallow high-grade silver mineralisation along a 17.5 km trend.

The Fraser North Project is located within the Albany-Fraser Orogen, a highly prospective geological province that hosts several significant mineral deposits, including the Nova-Bollinger Ni-Cu deposit.

Historical exploration has identified multiple high-grade silver intercepts, highlighting the potential for the project to host a larger mineralised system.

The Nabberu Project is located within the Earaheedy Basin and is prospective for SEDEX-style silver mineralisation hosted within the Frere Formation, the same stratigraphic package that hosts the Earaheedy Zn-Pb-Ag deposit. The project remains largely underexplored, with significant strike extent yet to be systematically tested.

Together, the projects provide Catalina with exposure to both high-grade silver mineralisation and large-scale basin-hosted silver systems within emerging exploration provinces of Western Australia.

Project Overview

Fraser North Project

The Fraser North Project is located approximately 300 km east of Kalgoorlie within the Albany-Fraser Orogen, a highly prospective geological province that hosts several significant mineral deposits including the Nova-Bollinger Ni-Cu deposit.

Historical exploration within the project area has been undertaken by several explorers including AngloGold Ashanti Ltd (ASX:ANG) and IGO Limited (ASX:IGO), comprising airborne geophysical surveys and aircore drilling programs.

Drilling reported in Western Australian Mineral Exploration (WAMEX) Reports A102032, A114806 and A116740 identified zones of elevated silver mineralisation within the Fraser North project area, including intersections such as:

- 4.0m @ 816.5 g/t Ag and 0.2% Co from 8m (VPA021)
- 1.0m @ 319 g/t Ag from 16m (17AFAC30049)
- 4.0m @ 48.2 g/t Ag and 0.2% Co from 14m(17AFAC30054)
- 4.0m @ 40.9 g/t Ag and 0.2% Co from 10m (17AFAC30068)
- 4.0m @ 51.1 g/t Ag and 0.2% Co from 36m (VPA103)
- 2.0m @ 32.1 g/t Ag and 0.2% Co from 9m (VPA075)

These historical results define a mineralised silver trend extending approximately 17.5 km, highlighting the potential for the project to host a significant silver-bearing mineralised system.

The presence of shallow high-grade silver mineralisation combined with the large strike extent provides multiple opportunities for follow-up drilling and target generation.

Nabberu Project

The Nabberu Project is located approximately 230 km northeast of Wiluna within the Earaheedy Basin, an emerging exploration province prospective for sediment-hosted base metal and silver mineralisation.

The project lies within the Frere Formation, the same stratigraphic unit that hosts the Earaheedy Zn-Pb-Ag deposit discovered by Rumble Resources. Mineralisation within this basin is interpreted to be consistent with SEDEX-style (Sedimentary Exhalative) systems, where metals are deposited from hydrothermal fluids into sedimentary basins. Historical drilling undertaken by Goldstone Resources Limited (ASX:GRL) intersected anomalous silver mineralisation at Nabberu, including:

- 5.6m @ 14.8 g/t Ag from 60.6 m including 1.2m @ 41.6 g/t Ag (ZK1401)
- 1.0m @ 9.4g/t Ag from 82.5m (ZK1401)

These results are reported in WAMEX Report A106375.

Structural deformation within the Stanley Fold Belt provides potential fluid pathways and traps for mineralising systems, with approximately 18 km of prospective strike remaining largely untested.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/BQI68988

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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