New 2.1Moz gold resource at Mt York lays strong foundation for rapid development

Highlights

-          Updated Mineral Resource Estimate (MRE) for Mt York Gold Project, WA, increases to 61.7Mt @ 1.05 g/t Au for 2.08Moz Au

-          27,000m of drilling completed in 2025 delivers a 50% resource increase (700,000oz) at a $13.40/oz discovery cost

-          Increase in Indicated resources to 66% of total MRE (42.1Mt @ 1.02 g/t Au for 1.38Moz)

-          Conversion of Inferred resources (19.7Mt @ 1.11 g/t Au for 703,000oz) to Indicated anticipated during 2026, as well as additional ounces below current pit shell

-          Gold grade has increased 5% due to higher drilling density and recognition of continuous zones of higher-grade mineralisation

-          Resource predominantly optimises in a single pit shell over 4,200m in strike, up to 350m deep

-          Pit optimisation work indicates that the resource remains open at depth (constrained only by drilling) along the entire 4,200m trend pathing the way for resource growth

-          50,000m drill programme underway in 2026, targeting resource extension, infill and exploration

-          Cash balance of $35.0M to fund 2026 drilling activities and feasibility work towards Final Investment Decision (FID).

Kairos Managing Director Dr Peter Turner said:

“Mt York has now become one of the largest undeveloped gold projects in Australia. We have delivered on our promise to grow the gold resource again and become a premier, multi-million-ounce gold development Company.

“I am very confident that resources will continue to grow significantly throughout 2026 as we embark on the largest drill programme in the Company’s history over this well-endowed asset.  We plan to have four rigs turning at Mt York for most of the year as we target additional ounces at this project.

“Our PFS for Mt York will progress through 2026, along with priority resource-growth drilling.”

April 13th 2026, Kairos Minerals Ltd (ASX: KAI) (“KAI” or the “Company”) is pleased to announce a new mineral resource estimate (MRE) at its Mt York Gold Project in WA’s Pilbara (Table 1).

The new MRE incorporates an additional 128 holes drilled for 26,971m at Mt York in 2025 and its extension towards the northwest, all of which have been previously reported to the ASX. The resource estimation and supporting technical report was completed by Encompass Mining Consultants and all mining engineering and pit optimisation work by Cube Consulting Pty Ltd in Perth.

Table 1. 2026 Resource Estimation of the Mt York Gold Project

1.                 Mineral Resources reported above a cut-off grade of 0.4 g/t Au inside an optimised A$5,500 pit shell
2.                 Rounding of figures may cause apparent discrepancies in totals

2026 Mineral Resource Estimate

The Mt York gold project is a continuous zone of gold mineralisation hosted within a banded iron formation (BIF), with mineralisation now confirmed over 4.2km of strike length.

The 2025 drilling underpinning the MRE update focussed on extending mineralisation at depth at Breccia Hill and Main Hill, testing along-strike to the northwest onto the Main Hill Extension beyond the limits of the existing resource, and to infill and increase the confidence level of thick zones of mineralisation at Main Hill.  All of these aims were achieved in 2025, with mineralisation extended in all directions with the deposit remaining open at depth and along strike.

The update MRE of 61.7 Mt at 1.05g/t Au for 2.08Moz represents a 43% increase in tonnes and a 5% increase in grade for an overall 50% increase in contained gold from 1.38Moz to 2.08Moz compared to the 2023 Resource (Table 2).  This includes a 100% increase in ounces within the Indicated category driven predominantly by infill drilling of wide zones of Inferred mineralisation at Main Hill.

The updated Mt York MRE is reported within an optimised pit shell based on a A$5500/oz gold price and is reported above a 0.40 g/t Au cut-off grade. The gold price used in the optimisation work represents a 22% discount to the six-month volume-weighted average price (VWAP) of gold and a 23% discount to the closing price on April 10, 2026 (source: Perth Mint, www.perthmint.com).

The cut-off grade of 0.4 g/t Au selected for the project reflects an appropriate lower cut-off grade for a resource that has ‘reasonable prospects for eventual economic extraction’ (RPEEE) from an open pit mining operation.

Table 2. Changes between 2023 & 2026 MRE’s for the Mt York Gold Project

1.                 2026 Mineral Resources reported above a cut-off grade of 0.4 g/t Au inside an optimised A$5,500 pit shell
2.                 2023 Mineral Resource reported above a cut-off grade of 0.5 g/t Au above -150mRL
3.                 Rounding of figures may cause apparent discrepancies in totals

Application of Cut-off Grades

The variability of cut-off grades applied to the 2026 MRE constrained within pit shell 15 (A$5,500/oz gold price, 0.4g/t lower cut-off grade) is shown in Table 3. Using a 0.4 g/t Au cut-off grade, the MRE contains 61.7Mt @ 1.05 g/t Au for 2,082,000oz.

Using a cut-off grade of 0.7g/t Au, the MRE contains 41.7Mt @ 1.30 g/t Au for 1,739,000oz.

Table 3. Cut-off grades applied to the 2026 in-pit MRE.

Potential Further Resource Increases

Optimisation work on the 2026 resource model has shown, yet again, that the pit shell selected using a $5,500/oz gold price bottoms out on the deepest level of drilling across the deposit. This means that there is strong potential to drive the pits deeper once drilling is completed below the optimal pit shell. The drilling throughout 2025 demonstrated clearly that the mineralisation in many of the deeper holes show strong, consistent and wide mineralisation at depth like drill hole 25MYDD031 in the area coined ‘Monster’ below Main Hill that returned 53m @ 1.45 g/t Au from 212m (including 10m @ 2.95 g/t Au from 239m[1]). The pit optimisation exercise emphasises that the resource has not been tested below these depths despite wide and higher-grade mineralisation persisting, therefore raising the probability that there will be increased resource growth in 2026 in these areas.

In addition, large areas under Main Hill and Main Hill Extension have not been tested below 100m depth and the pit optimisation bottoms out at the base of Inferred and Indicated material along much of the deposit there as well.

The deepest drilling at the base of the deposit remain mineralised and additional drilling is planned to significantly extend mineralisation down-dip during 2026.

Further resource estimation exercises are expected to be completed throughout 2026.

All mineralisation target areas below the current pit shell are shown in Figure 3.

Figure 1: Isometric view of the Mt York resource block model coloured by g/t Au. The model is showing Indicated + Inferred at a cut-off grade of 0.4 g/t Au.

Figure 2: Isometric view of the Mt York resource block model coloured by Resource Category. The model is showing Indicated + Inferred at a cut-off grade of 0.4 g/t Au. Note that the deposit contains multiple parallel lodes of mineralisation which are obscuring Indicated block at Main Hill.

Figure 3: Long-section view of the Mt York Resource model looking northeast displaying Indicated + Inferred with Au > 0.4g/t resource blocks. The modelled mineralisation is limited only by drilling in most areas, particularly below the optimal pit shell.

Next Steps

-            Systematic RC and diamond drilling throughout 2026, targeting resource growth

-            Testing of satellite targets to Mt York (Carlindi, Gilt Dragon, Lucky 13, Zakanaka & Hazelby)

-            Progress the PFS, targeting completion by Q1 CY2027

-            Submit applications for regulatory approvals to allow construction and mining to proceed

-            Bolster development and mining teams

-            Continue exploration over 535km2 of PLS & Trek licences and applications

You can find the entire English press release here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03077881-3A691164&v=undefined

About Kairos Minerals

Kairos Minerals (ASX:KAI) owns 100% of the flagship 2.1 Moz Mt York Gold Project in the Pilbara of Western Australia that was partially mined by Lynas Gold NL between 1994 and 1998. Kairos has recognised that the resource, hosted in an Archaean Banded Iron Formation or BIF, has significant potential to grow further from its current 2.1 Moz base with significant exploration potential existing within the Mt York ‘Main Trend’ and its extension towards the northwest where Kairos owns the mineral rights for gold.

Current resources are estimated within a pit shell using a A$5,500/oz gold price and a 0.4 g/t Au lower cutoff grade (table below).

Scoping study results released in November 2024 point to a robust, open-cut mining operation through a conventional CIL process route. In 2026, Kairos will complete a 50,000m of extensional and infill drilling programme where resources are expected to grow further for incorporation into the Prefeasibility Study or PFS. During the resource expansion work, Kairos will collect important additional information to fine-tune metallurgical processing, geotechnical engineering and mine scheduling.

Kairos is pursuing a maiden gold resource in 2026 at its 100% owned Roe Hills Project, located 120km east of Kalgoorlie in WA’s Eastern Goldfields. The Terra and Caliburn Prospects that have many geological similarities to some of the deposits at the giant St Ives gold camp, have 1,500m of solid gold intercepts in historic drilling that the Company recognises as a valuable asset in an area surrounded by gold mills and mines.

This announcement has been authorised for release by the Board.

Peter Turner

Managing Director

Simon Lill

Non-Executive Chairman

For investor information, please contact

Nathan Ryan – NWR Communications

0420 582 887

Competent Person Statement:

The information in this report that relates to Exploration Results is based on and fairly represents information compiled and reviewed by Mr Mark Falconer, who is a full-time employee of Kairos Minerals Ltd and who is also a Member of the Australian Institute of Geoscientists (AIG). Mr Falconer has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ (the JORC Code 2012). Mr Falconer has provided his prior written consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The information in this report that relates to Mineral Resources is based on information compiled and reviewed by Christopher Speedy a fulltime employee of Encompass Mining Consultants who is also a Member of the Australian Institute of Geoscientists (AIG). Mr Speedy has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ (the JORC Code 2012). The Resource Estimation has been prepared independently in accordance with the JORC Code. Mr Speedy has no vested interest in Kairos Minerals or its related parties, or to any mineral properties included in this report. Fees for the report are being levied at market rates and are in no way contingent upon the results. Mr Speedy has consented to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The Mineral Resources were first reported in this announcement dated 13 April 2026 (Announcement). The Company confirms that it is not aware of any new information or data that materially affects the information included in the Announcement and, in the case of estimates of mineral resources, that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

[1] See KAI press announcement dated 6 August 2025 entitled ‘Drilling discovers new ‘Monster’ gold zone near Main Hill at Mt York, WA.’