Positive thread

Just thought I’d post something positive for interested holders, and those sitting on the sidelines, whilst we wait for the current selling to abate. Surely substantial holding notifications are due ..?

Tbh, I didn’t think the results released yesterday were that bad for a first round RC program.I’m not sure what the market was expecting but the sp has been punished at this very early stage of exploration. I’ve seen it all before, yet without the vitriol.I guess you either believe or you don’t.Time will eventually tell, as it always does.

So here are a few positive take aways:

From the ann on 23/10/2024

• KalGold awarded $130,000 in co-funding under the Western Australian Government’s Exploration Incentive Scheme (EIS).

• Funds allocated for four diamond drill holes at Kirgella Gift and Providence, totalling 1,070 m.

• Drilling to target key structural data and test a high-grade gold exploration target at depth between the two deposits.

• Funding is available from December 2024 for a 12-month period.

Round 31- Next EIS funding will likely see further funding for the Lighthorse discovery which was announced before the timeline for applications closed.

https://www.wa.gov.au/system/files/2025-01/timeline-r31-ch83.pdf

Next round of EIS applications open on 4th August 2025

ASX Short sale data as of 15^th of April, 2025:

https://asxonline.com/content/dam/asxonline/public/reports/2025/apr/shortsell_gross_20250414.txt

Minimal short sales of ~ 216,000 for the last two days ann’d … good luck to that trader.

Wessex – See ann 9 October 2024

Gold intercepts correspond with quartz veining, ironstaining and alteration – all indicators of

primary gold mineralisation.

• Following highly encouraging aircore drilling, KalGold is planning its first RC drill program at

Wessex to test beneath near-surface gold mineralisation

o If successful, additional infill and extensional RC drilling will aim to further define the size

and extent of the gold mineralised system

• KalGold believes Wessex is part of the greater Anglo Saxon high-grade gold mineralised system,

with Hawthorn Resources’ (ASX:HAW) open pit mine less than 1 km to the northeast.

For MD and CEO Matt Painter’s thoughts on the results of the drill program, see a video on the KalGold

Investor Hub at https://investorhub.kalgoldmining.com.au/link/YeNqly

Pinjin N & S AC drilling commencing after the Easterlong weekend

New substantial holder Eduard Eshuys (ex DEG) who previously worked for Gutnik Resources.Gutnik were sniffing around this area almost 40 years ago.Maybe he suspects something?

Anyway, stay safe in these turbulent times.Protect capital and do whatever it is that was in your plan before you bought KAL shares.

All the best,

perdy