Catalina Resources Ltd (CTN.AX) Breakaway Dam and Evanston Project Updates

Perth, Feb 3, 2026 AEST (ABN Newswire) - Catalina Resources Limited (ASX:CTN) reports it has developed the next stage of exploration at its Breakaway Dam Project, following confirmation that the system represents a copper-rich Volcanogenic Massive Sulphide (VMS) system, located approximately 17 km east of Menzies in Western Australia (figure 1*).

HIGHLIGHTS

- Planning for follow-up drilling program finalised, including approximately 3,000 metres of RC drilling, to test high-priority EM conductors, expand the Central Zone and assess additional targets at Breakaway Dam

- 2025 drilling and geophysical programs have confirmed Breakaway Dam as a copper-rich Volcanogenic Massive Sulphide (VMS) system

- Previous drilling and DHEM1 have defined ~700 metres of sulphide-bearing strike, with mineralised horizons averaging ~10 metres estimated true width including:

o 9.2 m @ 0.48% Cu (estimated true width 8.7 m), including higher-grade intervals of 0.95 m @ 1.18% Cu and 1.7 m @ 1.05% Cu (BDCDD2501)

o 1.47 m @ 1.97% Cu and 0.24% Zn (estimated true width 1.4 m) (BDCDD2502)

o 4.2 m @ 0.32% Cu and 0.29% Zn (estimated true width 4.1 m) (BDCDD2504)

- Multiple strong DHEM conductors identified, including one plate that remained untested, supporting further follow-up drilling

- Land position expanded at Breakaway Dam, with additional tenements acquired and further applications progressed over prospective ground aligned with the confirmed VMS system

- Central Yilgarn Drilling Phase 1 assay results from Leghorn confirms the mafic host sequence, mineralisation orientation with results including:

o 1m @ 2.93 g/t Au from 159m (end of hole) (25EVRC009)
o 2m @ 1.01 g/t Au from 161m in (25EVRC007)

The forward exploration program has been advanced as a priority following the outcomes, conclusions and recommendations of the recently completed 2025 drilling and geophysical campaign, which confirmed Breakaway Dam as a well-developed VMS system with demonstrated scale and multiple untested targets.

Executive Director, Ross Cotton, commented:

"The discovery of a VMS system at our newly acquired Breakaway Dam Project is critically important to our exploration strategy, as it indicates the potential presence of high-value, high-grade, multicommodity ore deposits.

We have a clear pathway to guide further works at this highly prospective asset. This is bolstered by Board expertise and past success in leading the discovery, development and operation of a prolific copper-gold operation in Western Australia, putting Catalina in good stead to capitalise on this emerging opportunity."

SUMMARY OF RECENT DRILLING RESULTS

Recent drilling1 confirms a classic VMS architecture at Breakaway Dam, characterised by:

- Sulphide mineralisation intersected over approximately 700 metres of strike, with mineralised horizons averaging ~10 metres estimated true width

- Copper-dominant sulphide mineralisation, with individual intervals returning grades of up to ~2% Cu, noting that peak grades and widths do not coincide

- Clear metal zoning, with copper- and zinc-rich sulphides developed above basaltic host rocks and associated footwall stringer zones

- Multiple strong DHEM conductors, including one that remains only partially tested

- A structural and metamorphic overprint that has compressed the original massive sulphide horizons

Drilling intersected copper- and zinc-bearing sulphide mineralisation across multiple holes, with intervals ranging from narrow high-grade lenses to broader zones of moderate-grade mineralisation.

Significant intersections included:

- 9.2 m @ 0.48% Cu (estimated true width 8.7 m), including higher-grade intervals of 0.95 m @ 1.18% Cu and 1.7 m @ 1.05% Cu (BDCDD2501)

- 1.47 m @ 1.97% Cu and 0.24% Zn (estimated true width 1.4 m) (BDCDD2502)

- 4.2 m @ 0.32% Cu and 0.29% Zn (estimated true width 4.1 m) (BDCDD2504)

Two of the most VMS-anomalous drill holes occur approximately 500 metres and a further 700 metres northwest along strike, within an area that remains extremely lightly drilled based on available historical datasets.

This sparse distribution highlights potential for additional sulphide development outside the currently defined central zone and has been incorporated into forward targeting considerations.

Collectively, these intersections, when integrated with DHEM responses, support the interpretation of a zoned VMS system with both disseminated and more massive sulphide components, and provide a clear technical basis for prioritising follow-up drilling on untested conductors and along strike.

Next Phase Exploration Program

Catalina has now finalised a structured follow-up exploration program aimed at testing the most prospective components of the system while continuing to expand the known footprint.

Catalina is actively engaging drilling contractors, with the intention to commence drilling immediately upon securing rigs. The program will proceed under existing PoW approvals, and heritage clearances have already been completed.

Key elements of the next phase include:

- Targeted drilling of untested high-conductance EM plates proximal to BDCDD2503 (figure 2*), prioritising the strongest and least tested conductors

- ~2,000 metres of systematic RC drilling across the BDC Central Zone (figure 2) to assess grade continuity beyond current EM-defined targets

- Approximately ~1,000 metres of RC drilling and follow-up DHEM to evaluate potential mineralisation beneath shallow historical drilling within the broader project area

- First-pass drilling of an additional target where coincident geochemical anomalies and magnetic lows are interpreted as indicative of a potential feeder position

This next phase of drilling is designed to systematically test the highest-priority conductors and geological positions identified to date, while continuing to evaluate the scale and continuity of mineralisation across the Breakaway Dam system.

Results from this program will be used to refine the Company's geological model, prioritise follow-up targets and inform subsequent exploration activities. Catalina will provide further updates as drilling commences and results become available.

TENEMENT CONSOLIDATION AND LAND POSITION

In parallel with advancing exploration at Breakaway Dam, Catalina is progressing applications for additional Exploration Licences over unpegged ground adjacent to the existing tenure, with the objective of securing a coherent and contiguous land position across this prospective structural corridor.

These are considered complementary to E29/1037 and are interpreted to cover prospective stratigraphic and structural positions consistent with the geological architecture observed at Breakaway Dam.

This tenement consolidation strategy is intended to provide Catalina with the flexibility to systematically evaluate the broader mineral system, efficiently follow up exploration results, and support the continued advancement of the Breakaway Dam Project.

PHASE 1 RC DRILLING RESULTS - CENTRAL YILGARN PROJECT

LEGHORN PROSPECT, EVANSTON PROJECT

Catalina is also pleased to provide an update on results from the Phase 1 RC drilling program at the Leghorn Prospect, part of the Evanston Project within the Central Yilgarn Gold District of Western Australia.

These results form part of an ongoing Phase 1 drilling campaign totalling ~10,000m of RC and Aircore drilling across the Central Yilgarn Project, with drilling and assay results from multiple targets still pending.

The Phase 1 program was undertaken prior to the Christmas period and formed the initial focus of Catalina's broader Central Yilgarn drilling campaign. Drilling was designed to follow up and test the continuity of previously reported anomalous gold mineralisation intersected in historic drilling.

Executive Director, Ross Cotton, commented:

"The Leghorn results provide useful confirmation of the geological and structural model we set out to test, particularly in relation to host lithology and mineralisation orientation. While Leghorn represents only one component of the broader Central Yilgarn program, the information gained is being incorporated into ongoing targeting as Phase 1 drilling continues across Evanston and Yerilgee, with further results pending."

Drilling Summary - Leghorn Prospect

Results reported here relate specifically to drilling completed at the Leghorn Prospect, one of several targets included within the Phase 1 program.

The Phase 1 RC drilling program at the Leghorn Prospect comprised 8 RC drill holes for a total of 1,521 metres. Drilling targeted along-strike extensions of gold mineralisation intersected in earlier drilling, including broad zones of anomalous mineralisation reported in historic drill hole BARRC007 which provide previous results of:

- 48m @ 0.6g/t Au (incl. 21m @ 1.3g/t Au) and 3m @2.28g/t Au (BARRC007)
Geological Observations and Results

Drilling intersected a mafic stratigraphic sequence comprising basalt, amphibolite, and mafic schists, consistent with the geological interpretation previously reported for the Evanston Project.

Gold mineralisation is interpreted to be hosted within this mafic sequence and to dip approximately 40 degrees to the east, providing confidence in the orientation of the mineralised system and informing future drill design.

Drilling along strike has confirmed the interpreted mineralisation model, with intersections including:

- 1m @ 2.93 g/t Au from 159m (end of hole) in 25EVRC009
- 2m @ 1.01 g/t Au from 161m in 25EVRC007

These results confirm continuity of gold mineralisation along strike and at depth and support the interpretation of a coherent mineralised system at the Leghorn Prospect.

The interpreted mineralised zone is developed within a mafic stratigraphic sequence and exhibits continuity along strike, consistent with the geological model tested during the Phase 1 drilling program. Drill hole locations, significant gold intersections, and projected mineralised trends are shown to provide spatial context for reported results.

This interpretation provides a framework for refining follow-up drill targeting and assessing the broader potential of the Leghorn Prospect within the Evanston Project area.

Representative RC Rock Chip Images

Rock chip observations, supported by geological logging, indicate that gold mineralisation is predominantly hosted within amphibolite and biotite schist units. The images are not indicative of grade, tenor, or continuity of mineralisation, but assist in demonstrating the geological setting, alteration styles, and structural characteristics relevant to ongoing interpretation and follow-up targeting.

Ongoing Phase 1 Drilling and Assay Status

Phase 1 drilling of approximately ~10,000 metres of combined AC and RC drilling is continuing across the Evanston and Yerilgee Projects, with multiple target zones tested as part of the current campaign.

Assay results from all other Phase 1 target areas are currently pending, with samples submitted to the laboratory. These results will be reported progressively as they are received, validated, and interpreted.

Catalina considers the Leghorn results to represent one component of a broader, active exploration program, with further updates expected as the Phase 1 campaign continues.

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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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