Argyle completes four drill holes at Clay Howells

Executive Summary

• Argyle Resources completed four diamond drill holes at the Clay Howells rare‑earth element project and is currently drilling the fifth hole (CH‑25‑05).
• A significant 5.9 m interval of magnetite‑layered carbonatite was intersected in hole CH‑25‑04, with portable XRF confirming high‑grade REE mineralization (Ce, La, Nd, Pr).
• Drilling progress averaged 102.6 m per day over the week of Sept 21‑29, with a total of 1,231 m drilled; the program remains on schedule to finish the current hole and move to the next target.

Key Details

• Hole CH‑25‑04: Intercepted magnetite‑layered carbonatite from 165.25 m to 171.15 m (5.9 m interval). Portable XRF detected cerium, lanthanum, neodymium and praseodymium.
• Hole CH‑25‑05 (2025‑AR‑001): Currently at 267 m of a planned 300 m depth; encountered pink and grey syenite but no carbonatite yet. Remains high‑priority target due to proximity to CH‑25‑04.
• Drilling Activity (Sept 21‑29): 1,231 m drilled total; average rate 102.6 m/day.
• Schedule: Completion of hole CH‑25‑05 expected shortly; next planned hole is 2025‑AR‑006‑b.
• CEO Comment: Jeff Stevens highlighted the discovery as a “key development” that validates the geological model and will guide future targeting.
• Qualified Person: George Yordanov, P.Geo., reviewed and approved technical information per NI 43‑101.

Notable Quotes

“Our drilling program at Clay Howells is progressing well, with early results providing valuable insight into the property's geology. The discovery of magnetite‑layered carbonatite in CH‑25‑04 is a key development that supports our geological model and will help refine future targeting across the project.” – Jeffrey Stevens, CEO

Materiality Assessment: Material – Positive (the drill intercept provides substantive, positive insight into the project's REE potential and may influence investor perception).