Update on GPS Drilling Programs

• Drilling Progress: Completed 2,065 metres of Air Core drilling at Goodrich and Mt Rose sites (218 shallow holes). Identified geological indicators supporting a potential porphyry copper-gold system.
• Upcoming Activity: Diamond drilling program of up to 2,000 metres scheduled to commence at Goodrich in the second week of May 2026. Phase One Everton drill program (5 holes) concluded with molybdenum mineralization intersected in all holes.
• Assay Status: Air Core results expected late May 2026; Everton assay results expected during Q2 2026.
• Management Update: Peeyush Varshney appointed CEO (April 2026), succeeding Aidan Bishop who remains on the Board.
• Strategic Focus: Continued focus on "pencil porphyry" targets in Australia's Lachlan Fold Belt, utilizing legacy data re-evaluation to identify drill-ready targets.

• Execution vs. Expectations: The news confirms execution of the Q1/Q2 2026 exploration plan announced in January and March. It validates that capital raised in February ($4.18M) is being deployed as promised.
• Assay Dependency: While geological indicators are encouraging, no assay grades (metal content) have been released yet for the Air Core program or Everton Phase One. Valuation remains dependent on future grade results.
• Market Reaction Context: The stock has corrected from January highs ($0.28) to current levels ($0.14), likely pricing in the risk of assay delays or lower-than-expected grades. This news provides stability but does not constitute a re-rating event without assay data.
• Management Continuity: The CEO transition appears stable with Varshney (formerly Director) stepping up, maintaining continuity on the strategy previously outlined by Aidan Bishop.
• Data Integrity Note: A significant discrepancy exists in the provided transcript context; it details Gap Inc. (Retail) results rather than Great Plains Metals. This invalidates any cross-referencing of management promises from that specific document against GPS operations and represents a data risk for investors relying on automated summaries.

• Company: Great Plains Metals Corp. (GPS), TSX Venture Exchange listed.
• Flagship Projects:
  • Yeoval Goodrich (NSW): Historic copper-gold mine targeting a large-tonnage porphyry system. 70% interest via earn-in agreement with Godolphin Tenements.
  • Everton Project (Victoria): Historic molybdenum producer (~20,000t @ 1.4% Mo). Currently testing pencil-porphyry targets beneath historic workings.
  • Mt Rose Discovery: New discovery ~2km south of Goodrich, identified as a second pencil porphyry cupola.
• Jurisdiction: Australia (Tier-1 mining jurisdiction), specifically the Lachlan Fold Belt.
• Strategy: Focus on drill-ready exploration assets with low-cost entry points and potential for near-surface mineralization.