Almasane Alkobra Mining Company (AMAK), one of Saudi Arabia’s leading mining companies, has announced a significant milestone in the development of its Jabal Qaran Project in the Najran region, following the completion of an independent Mineral Resource Estimate (MRE) confirming 11.3 million tonnes of classified Mineral Resources containing copper, zinc, gold and silver.In addition to identifying approximately
2.7 million tonnes of additional unclassified mineralised material.

The independent estimate, prepared by Cube Consulting Pty Ltd in accordance with the JORC Code (2012), confirms and further defines the mineralisation initially announced by AMAK in November 2025 and represents an important step in advancing Jabal Qaran towards future development.

The 11.3 million tonnes of classified Mineral Resources comprise 7.1 million tonnes of Indicated Resources and 4.1 million tonnes of Inferred Resources, with approximately 63% of the total resource already classified in the higher-confidence Indicated category.

The resource contains an estimated 118,000 tonnes of zinc, approximately 34,000 tonnes of copper, 281,000 ounces of gold and 3.74 million ounces of silver.

The estimate includes 9.7 million tonnes of polymetallic mineralisation grading 1.38% copper equivalent (CuEq) and 1.5 million tonnes of gold mineralisation grading an average 1.10 grams per tonne of gold.

In addition, approximately 2.7 million tonnes of further mineralised material has been identified within the project area. While this material does not currently meet the geological confidence and drilling requirements for classification as a Mineral Resource under JORC, AMAK considers it to represent further upside potential that will be targeted through additional exploration and infill drilling.

Eng. Savas Sahin, Managing Director – Executive Board Member of AMAK, said:
“Jabal Qaran represents another important milestone in AMAK’s growth journey and demonstrates both the significant geological potential of the Najran region and the strength of our exploration strategy.

“The confirmation of 11.3 million tonnes of JORC-compliant Mineral Resources, with almost two-thirds already classified in the Indicated category, provides us with a strong foundation from which to advance the project. Importantly, we continue to see further potential beyond the currently classified resource and will focus our next phase of drilling on increasing geological confidence and testing extensions of the mineralisation at depth and across the wider mineralised belt.

“As we continue to expand our resource base, AMAK remains committed to applying disciplined exploration and technical expertise to unlock the Kingdom’s mineral potential, create long-term value for our shareholders and contribute to the development of Saudi Arabia’s mining sector in line with Vision 2030.”

Metallurgical testwork completed to date has confirmed that the Jabal Qaran mineralisation is amenable to conventional processing methods, with no fatal flaws identified at this stage.

AMAK will now prioritise further drilling aimed at upgrading Inferred Resources and potentially converting currently unclassified mineralised material into recognised Mineral Resources. The Company will also continue metallurgical testwork and development studies as it assesses the pathway towards future project development for production in the next few years.

The Jabal Qaran discovery forms part of AMAK’s broader strategy to expand its mineral resource base through systematic exploration across its portfolio in Saudi Arabia, while leveraging its established mining, processing and technical capabilities in the Najran region.

The Company continues to progress development-stage studies for Jabal Qaran with the objective of converting the existing Exploration License into a Mining License and will and production from Jabal Qaran announce further material developments in accordance with applicable regulations.