Catalina Resources Ltd (CTN.AX) Advances Flamingo Cu Au Exploration Model

Beasley Creek - Flamingo Interpreted as Copper/ Gold VMS System with Orogenic Gold Overprint

Perth, Feb 25, 2026 AEST (ABN Newswire) - Catalina Resources Limited (ASX:CTN) provided an update to its previous Beasley Creek announcements following completion of further geological review and integrated reinterpretation of structural, geochemical and geophysical datasets.

HIGHLIGHTS

- Flamingo reinterpreted as a compelling Cu-Au VMS-style target, materially upgrading Beasley Creek from a single-model gold project to a multi-commodity volcanic- hydrothermal opportunity

- Builds on Catalina's confirmed VMS system at Breakaway Dam, positioning the Company with growing copper leverage

- Large 600m x 400m magnetic feature with coherent Au-Cu-Zn-Ni-As anomalism, defining a structurally controlled corridor consistent with VMS-style mineral systems - Gold upside remains intact, with evidence supporting later orogenic remobilisation capable of enhancing and upgrading earlier mineralisation

- First modern drill test pending, with RC program designed to validate the VMS-orogenic hybrid model; EIS co-funding application in development to accelerate drilling and maximise capital efficiency

Ongoing technical work has materially strengthened the exploration thesis at the Flamingo target. The Company now interprets Flamingo as demonstrating the characteristics of a dismembered Archean copper-dominant Volcanogenic Massive Sulphide (VMS) system with associated gold, subsequently overprinted by orogenesis and remobilisation of gold.

This refined geological model materially expands the project's commodity exposure beyond gold alone and increases the potential scale of the opportunity, positioning Flamingo as a prospective Cu-Au volcanic hydrothermal system rather than a single-model gold target.

Catalina Executive Director, Ross Cotton, commented:

"The refinement of the Flamingo model is a material step forward for Beasley Creek and reinforces the purposeful direction Catalina has taken with its portfolio. We already have a confirmed VMS system at Breakaway Dam, and recognising VMS-style characteristics at Flamingo strengthens our conviction that the Company is building meaningful exposure to copper through technically grounded opportunities.

VMS systems are attractive for their potential scale, metal zonation and repeatability within defined volcanic corridors. The coherent magnetic architecture, multi-element geochemical support and structural setting at Flamingo provide a compelling basis to advance drilling with confidence.

Importantly, this is not a single-commodity story. While the VMS interpretation introduces clear copper potential, the orogenic overprint and regional setting mean the gold upside remains intact. If validated through drilling, Flamingo has the potential to materially enhance both the copper and gold opportunity within Catalina's portfolio."

REGIONAL CONTEXT AND BACKGROUND

Catalina's 100% owned Beasley Creek Project lies within a broader district (Figure 1 and 2*) that hosts several established gold deposits, including the former Paulsens Gold Operation. Paulsens produced 907,344 oz at 7.3 g/t Au, averaging approximately 75koz per annum between 2005 and 2017. The operation was subsequently acquired by Black Cat Syndicate (ASX:BC8) for remnant mining of the existing resource, with first gold poured in December 2024.

Beasley Creek occupies a geologically prospective and underexplored portion of this district, where historical work has been limited in scope and depth, with minimal modern geophysics or systematic geochemical testing undertaken to date.

Exploration to date focused almost exclusively on conglomerate gold, with drilling confined to the basal conglomerate and immediately adjacent shear quartz zones just south of the conglomerate. Flamingo (~700 m south of the conglomerate) was not previously considered a bedrock source. New datasets including aerial photo mapping, soil geochemistry, rock chips, and airborne geophysics define a hydrothermal system unrelated to the conglomerate.

Soil anomalies (200 x 40 m spacing), within the Flamingo target, show elevated Au, Cu, Zn, Ni and As values. These multielement patterns align with known VMS halos. Iron rich units < 40 m north of Flamingo are interpreted to represent an early sea-bed smoker system rather than sedimentary ironstone. Visible nuggets are best explained by downslope transport from a Cu-Au bedrock source at Flamingo.

KEY ELEMENTS OF THE REFINED GEOLOGICAL INTERPRETATION

Primary VMS System

The Flamingo target area (figure 3*) is interpreted to represent the structurally modified remnants of an Archean VMS system.

Key supporting observations include:

- A 600m x 400m magnetic high exhibiting internal repetition indicate fault segmented lithology (figure 4*)

- Multi-element soil anomalies (Au-Cu-Zn-Ni-As) consistent with VMS halo signatures (figures 5 - 9*)

- Iron rich units, interpreted from arial photomapping and rock chip sampling, along with Cu anomalies, suggest an early sea-bed smoker complex.

- North-dipping bedding bounded by NW-SE faults within the Mithgoondy Shear Zone

The original Archean VMS geometry appears to have been strongly modified by Proterozoic deformation, with tilting, folding and shearing dismembering the system into structurally rotated blocks.

Orogenic Gold Overprint

A 2018 GSWA SEM-EDS and LA-ICP-MS study of gold nuggets (Figures 10 and 11*) from the broader Beasley River area concluded that the gold is hydrothermal in origin, proximal to source, characterised by elevated silver content, and only minimally modified by burial processes. These characteristics indicate limited transport distances and support derivation from a nearby bedrock source.

This interpretation is consistent with the regional geological setting as the Beasley Creek Project lies within the northern Capricorn Orogen, a terrane characterised by repeated orogenesis and reactivation of mantle tapping structures creating fluid pathways. Major crustal-scale structures within this framework provide a credible mechanism for remobilisation and local upgrading of earlier VMS-related mineralisation, supporting a hybrid Cu-Au system model at Flamingo.

Significance of the Updated Model

The refined geological interpretation expands the conceptual exploration framework across the Beasley Creek Project and surrounding tenements held by the Company in the district.

The focus shifts from conglomerate-hosted gold toward evaluation of a structurally controlled volcanic- hydrothermal corridor interpreted to exhibit characteristics consistent with a Cu-Au VMS-style system, with potential later gold remobilisation.

The reinterpretation:

- Introduces copper as a potential additional commodity within the system, broadening the exploration focus beyond gold

- Supports evaluation of a hybrid mineralisation model involving primary volcanic-hosted mineralisation and possible subsequent orogenic remobilisation

- Establishes a structural and geochemical framework that may be applicable to other prospectiveareas within Catalina's broader Beasley Creek landholding

Importantly, the Flamingo volcanic-hydrothermal corridor has not been directly tested by drilling. The 48 RC holes completed in 1994 were confined to the basal conglomerate and adjacent shear zones and did not test the interpreted target area. No modern drilling has been undertaken in this corridor.

Further drilling is required to test the conceptual model and determine whether mineralisation consistent with this interpretation is present.

Implications for Forward Exploration

The Company's has designed an RC drilling program to test:

- Predicted VMS footwall positions

- Gossanous horizons at unconformity contacts

- Alteration zones indicated by geochemistry and magnetics

- Structural offsets within north-dipping blocks

Drilling will allow the Company to distinguish between:

- Primary VMS mineralisation

- Orogenic remobilisation

- Or a hybrid system involving both processes

If validated, the Flamingo target may represent a previously unrecognised Cu-Au volcanic-hydrothermal corridor within the Rocklea Dome.

2026 Exploration Incentive Scheme (EIS) Co-Funding Application

As previously announced Catalina will be applying for co-funding under the current round of the Western Australian Government's Exploration Incentive Scheme (EIS) to support the initial drilling program at Beasley Creek.

Securing co-funding would enable Catalina to accelerate first-pass and confirmatory drilling activities while applying capital more efficiently across the broader portfolio.

Next Steps

- Complete soil infill and extension sampling across the Flamingo Target and other identified locations that represent a similar signature to refine drill collar locations and finalise target footprints.

- Conduct geological field mapping within the Flamingo target area and other priority areas.

- Finalise heritage engagement, access planning and operational logistics required in advance of exploration activity.

- Commence drilling activities-including the RRC15 confirmation hole and first-pass drilling along the Flamingo structural corridor.

*To view tables and figures, please visit:
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About Catalina Resources Ltd

Catalina Resources Ltd (ASX:CTN) is a mineral exploration company focused on discovering and advancing gold and multi-commodity projects in tier-one jurisdictions. Backed by a technically experienced team with deep industry knowledge, Catalina is committed to creating value through focused exploration across highly prospective and underexplored regions in Western Australia.

The company's core assets are located in the Central Yilgarn and Laverton regions, two of the most historically productive and geologically endowed gold provinces in the country. Both projects have demonstrated the potential to host significant mineralisation, with early-stage drilling already delivering promising results.

  

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