Monthly Newsletter

Emailed today

	July 2025 Newsletter

Dear Investor, As part of our ongoing efforts to connect with shareholders, I wanted to follow up on last month’s newsletter with a brief recap of recent activity and developments across the portfolio, as well as touch on our ongoing efforts to identify value-accretive opportunities for capital deployment. If you haven’t already joined our InvestorHub, we encourage you to dosoby clicking here.It is the best way to directly engage with us and stay updated on our latest news and developments.

High-Grade Epithermal Feeder Structure Confirmed at Vuzel We were pleased to report theidentification of a high-grade epithermal feeder structure at Vuzel,which was confirmed by recent drilling and assay results. So far, we believe that we have now identified at least one high-grade feeder structure, and that there are potentially others over the 3-4km of project strike. Every hole drilled and reported to date has also contained gold mineralisation, which has supported our interpretation that Vuzel may potentially host a large, widely disseminated and shallow gold system. We believe the cumulative results received to date continue to validate our exploration model for Vuzel. Phase 2 drilling remains ongoing, and we are continuing to focus on identifying further high-grade epithermal feeder structures and expanding the foot print of mineralisation.

1		Arrow and Mt Sholl: 100% Ownership Retained Over the past month, our partners at theArrowandMt Shollprojects elected to not progress to the next stage of their respective earn-in agreements, resulting in Raiden retaining 100% ownership of both projects. While this was not the outcome we had initially hoped for, each agreement has nonetheless materially advanced both assets through third-party investment and technical work at no cost to Raiden. At the Arrow Gold Project, approximately 0k of exploration work was completed and solely funded by Mallina and included over 3,000m of AC drilling. The project is located ~32km from the world-class 10Moz+ Hemi deposit and lies along the same structural trend, with geology considered prospective for orogenic gold. Meanwhile, at the Mt Sholl Project, over m worth of exploration and early-stage studies were carried out by First Quantum and included geophysics, mapping and drilling. Raiden also received a total of A5k in cash under the MoU from First Quantum at nil cost to Raiden. Mt Sholl hosts a large, outcropping JORC resource with the potential for open-pit development. We are currently integrating the data acquired from both projects and assessing new pathways to unlock value from both Arrow and Mt Sholl. Specifically, at Mt Sholl,as previously announced, we are evaluating regional development options for the project. As with all assets that are within our portfolio, we seek to advance Arrow and Mt Sholl in a manner that can deliver clear benefits to shareholders.

Corporate Strategy: Acquisitions and Capital Deployment As outlined in ourApril Strategy Update,we are continuing to actively review new acquisition opportunities, which remains a core focus of our strategy to create shareholder value. As previously announced, we are committed to ensuring that any acquisition or capital deployed has strong potential to be value-accretive. At the same time, we are continuously evaluating and optimising our costs and expenditures, with the objective to preserve the maximum amount for capital for strategic level acquisitions and partnerships.

	Stay Connected For more detailed updates and direct Q&A with the team, please join us on InvestorHub:https://investors.raidenresources.com.au/auth/signup Thank you again for your continued support and I look forward to providing further updates. Warm regards, Dusko Ljubojevic Managing Director Raiden Resources