Quarterly Activities/Appendix 5B Cash Flow Report

Makilala Mining Company, Inc. (MMCI), our Philippine affiliate, is actively driving forward the FEED (Front-End Engineering Design) and updating the Feasibility Study for the MCB Project, accelerating its early development.

The FEED program is progressing on schedule for a targeted December completion.

Concurrently, the Feasibility Study is being enhanced by ongoing field work at the Project site, ensuring the integration of the latest site investigations into our development strategy.

Ausenco's Interim Study Report has highlighted significant technical improvements, including optimised site layout, underground mine design, process plant configuration, and materials handling systems.

These enhancements are expected to deliver more efficient operating costs and strengthen the Project's economic profile, further supported by anticipated positive impacts from updated commodity forecasts.

In parallel, our Geotechnical and Hydrogeological Drilling campaign is well advanced. This crucial work will produce comprehensive surface and subsurface data, refining our underground mine plan, process plant layout, and surface infrastructure design, all of which will directly inform the Feasibility Study updates.

Notably, one metallurgical test hole from the recent drilling program delivered impressive results, surpassing our resource model expectations and confirming consistent high-grade copper mineralisation. Significant assay results include 113.1m @ 1.32% Cu and 0.41g/t Au from 8.1m, with a high-grade section of 54.6m @ 1.84% Cu and 0.74m g/t Au from 60.4m.

These findings not only reconfirm the target zone's mineralization but will also guide our upcoming test work and resource assessment.

Additionally, key social development initiatives, such as stakeholder engagement and community-based skills training, have been implemented to support the host community.

Environmental management plans for the project are progressing well, including obtaining necessary permits and certifications. The company's cash position, estimated available funding, and compliance with accounting standards are detailed in the report.

Investors are encouraged to review the full report for a comprehensive understanding. For any inquiries or questions about the report, feel free to contact Celsius Resources Limited.