REG — Cobra Resources PLC — Drilling Results

For best results when printing this announcement, please click on link below: RNS Number: 0635W Cobra Resources PLC 24 September 2026 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. 63% Cu incl.

01% Cu Follow-up RC drilling commences, targeting strike extensions at Blue Rose and testing Netley Hill and Anabama prospects Cobra (LSE: COBR) ( ), a South Australian mineral exploration and development company advancing the Wudinna Rare Earth Project and the Manna Hill Copper Project, is pleased to report results from two of four completed Diamond Drilling (“DD”) holes from Blue Rose, a copper-gold-molybdenum discovery within the Manna Hill Copper Project. Mineralisation has now been defined to depths beyond 300m and the style of mineralisation and associated geological features support a greater porphyry system.

In addition, the next phase of exploration has commenced with slimline RC drilling across multiple targets. Highlights: * Porphyry source confirmed: DD drilling below the shallow skarn discovery at Blue Rose returned solid copper—gold intersections, molybdenum mineralisation and hydrothermal breccias. All three are typical of the upper parts of a porphyry system. 09 g/t Au from 186m, incl.

05 g/t Au from 232m, incl. 5m, incl. 48% Mo, within strongly altered wall rock contacting a hydrothermal breccia — Mo is a primary pathfinder for porphyry vectoring. * Open at depth: mineralised intervals extend beyond 300m downhole in both holes and remain open.

* Next steps: assays are pending from MHDD001 and MHDD003. Up to 6,000m of follow-up RC drilling (52 holes) is now underway across four prospects (Figure 4). Rupert Verco, Managing Director commented: “There is extensive copper mineralisation defined within these two drill holes. 30 percent copper.

08% molybdenum — this element both supports economics and provides an important vector for the system’s hydrothermal source. Results add to the scale potential of Blue Rose, extending the depth of mineralisation beyond 300m. The commencement of RC drilling is the next step in defining the scale, targeting both shallow skarn and recognised porphyry systems. Drilling is expected to continue over the next six weeks with results to follow.

Now is a pivotal time to invest in new copper discoveries, with copper trading near record levels while tightening supply and rising electrification demand reinforce the strategic value of new resources. The macro story is obvious: increasing demand, tightening supply and increasing costs of discovery. 34% Cu from 34m * Geochemical, structural and geological observations from DD drilling support skarn mineralisation being associated with a deeper hydrothermal porphyry source. * Mineralisation has been defined to depths beyond 300m, where the style of mineralisation and associated geological features support a greater porphyry system.

3m * The high molybdenum grades and its direct association to a large hydrothermal breccia is evidence of a much larger mineral system - molybdenum is a primary pathfinder for porphyry vectoring as it is generally more proximal to the potassic alteration zone which becomes more enriched in metals and can host higher grade copper. * Assays from select intervals from the two remaining holes are pending. Petrology and petrophysical test work are also pending for all four holes.

Manna Hill is located in the Nackara Arc, South Australia, a fertile copper-gold province where multiple underexplored prospects offer potential for large-scale copper-gold discoveries, including shallow skarn mineralisation and deeper porphyry potential. 09 24 incl. 50 34 incl. 02 16 incl.

01 15 incl. 05 91 Incl. 09 182 incl. 00 808 incl.

01 4760 Figure 1: Plan of completed drilling, both reported and pending results Figure 2: Section A: 429,375mE highlighting significant intersections within drillholes MHDD0004, and high-grade molybdenum mineralisation proximal to hydrothermal breccia Figure 3: Section B: 428,950mE highlighting significant intersections within drillholes MHDD0002 Figure 4: Manna Hill planned drilling Competent Person’s Statement Information in this announcement has been assessed by Mr Rupert Verco, a Fellow of the Australasian Institute of Mining and Metallurgy.

Mr Verco is an employee of Cobra and has more than 18 years’ industry experience which is relevant to the style of mineralisation, deposit type, and activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves of JORC. This includes 13 years of Mining, Resource Estimation and Exploration. Mr Verco consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

About Cobra Cobra Resources is advancing two South Australian critical minerals opportunities: the Wudinna ionic rare earth project and the Manna Hill copper project. At Wudinna, Cobra is advancing a rare earth discovery that is amenable to low-cost, low-disturbance controlled-aquifer in situ recovery (ISR), with the potential to progress towards small-scale production and bottom-quartile recovery costs, becoming the Western World’s first rare earths ISR operation.

Cobra is also advancing the Manna Hill copper project in the Nackara Arc, where multiple underexplored prospects offer potential for large-scale copper-gold discoveries, including shallow skarn mineralisation and deeper porphyry potential. Cobra also holds a significant shareholding in Barton Gold (ASX: BDG), following the 2025 sale of its non-core gold assets for A$15 million in cash and shares. Regional map showing Cobra’s tenements in South Australia Follow us on social media: LinkedIn: X: Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say.

3 360 -65 Appendix 2: JORC Code, 2012 Edition — Table 3 Criteria JORC Code explanation Commentary Sampling techniques * Nature and quality of sampling (eg cut channels, random chips, or specific Historic Drilling specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF *Historic drill programs have been conducted by multiple companies and methods instruments, etc). These examples should not be taken as limiting the broad the historically reported results are being reviewed prior to any broader meaning of sampling. reporting of results.

In general lab assay results across differing programs *Include reference to measures taken to ensure sample representivity and the show comparable tenors of grade and distribution. appropriate calibration of any measurement tools or systems used. *Aspects of the determination of mineralisation that are Material to the Public Report. *In cases where ‘industry standard’ work has been done this would be 2026 RC Drilling relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire *RC drill cuttings were collected from the drill rig cyclone in 1 m intervals assay’).

In other cases more explanation may be required, such as where in industry standard green bags, with a 2 m representative split from the there is coarse gold that has inherent sampling problems. Unusual commodities cyclone collected into a calico bag. The green and calico bags were arranged or mineralisation types (eg submarine nodules) may warrant disclosure of in rows on site for sampling and assaying. detailed information.

*2msamples were split using a cone splitter mounted on the drill rig. *Samples were submitted to BV Laboratories, Perth for analysis. 2026 Diamond Drilling *HQ sized diamond core was cut and half core sampled. *Sampling was generally kept to 1m intervals but adjusted to honour geological boundaries.

*2-4kg half core samples were submitted to ALS Laboratories for geochemical analysis. Drilling techniques * Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, Historic Drilling auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is *Historic drill methods were predominantly aircore and RC drilling with some oriented and if so, by what method, etc). diamond drilling reported 2026 RC Drilling *Schramm T685 RC rig operated by Bullion Drilling Pty Ltd. The RC drilling was conducted using a 5 ¾-inch hammer.

A booster air compressor was used throughout the program. 1. Diamond Drilling *UDR 1000 drill rig operated by MJ Drilling Pty Ltd. The diamond drilling was conducted using HQ sized core from surface (except one hole which re-entered a previously drilled RC hole to continue as a diamond tail).

*HQ core samples were collected from the diamond drill rig from nominal 3 m drill runs and placed into industry standard core trays. *Where broken ground was intersected, run lengths were reduced as appropriate. Drill sample recovery * Method of recording and assessing core and chip sample recoveries and results * Historic recoveries have not been assessed. assessed.

*Drill methods and geological conditions are not expected to promote *Measures taken to maximise sample recovery and ensure representative nature of significant reduced recovery or sample biasing the samples. *Whether a relationship exists between sample recovery and grade and whether 2026 RC Drilling sample bias may have occurred due to preferential loss/gain of fine/coarse material. *Bulk RC samples were visually assessed and considered to be representative with good recoveries. Recoveries were recorded onsite into Cobras MX Deposit database.

*Water was intersected in several drillholes. Where outside return was lost and sample recovery reduced. Recovery estimates recorded into the companies database. Shroud tolerance was managed to optimise recovery.

1. Diamond Drilling *Core blocks were utilised by the drill contractor to indicate where core loss occurred. *Core recovery was measured as part of the RQD logging process and recorded onsite into Cobra's MX Deposit database. Logging * Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

*Historic logging has been completed with a number of different geological *Whether logging is qualitative or quantitative in nature. Core (or costean, logging codes. These are being translated into a standardized logging format channel, etc) photography. prior to entry into the Cobra Drillhole Database *The total length and percentage of the relevant intersections logged.

2026 Cobra Drilling *All holes were qualitatively and quantitatively logged for their entire length by suitably qualified Cobra geologists and recorded onsite into Cobra’s MX Deposit database. *Qualitative logging included geology, alteration, mineralisation, weathering etc. *Quantitative logging included magnetic susceptibility, structural and RQD measurement recording. *Mineral Resources have not been estimated; however, the quality of the logging is expected to be suitable for low-confidence resource estimation purposes.

*The detail of geological logging is considered sufficient for exploration and resource definition drilling. *Logging included visual estimates for copper oxides and sulphides as well as pyrite content *All intersections were logged. Sub-sampling techniques and sample preparation * If core, whether cut or sawn and whether quarter, half or all core taken. Historic *If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

*Historic sampling has not been assessed. *For all sample types, the nature, quality and appropriateness of the sample preparation technique. 2026 RC Drilling *Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. *AMetzke cone split 2m composite sample was collected in a calico bag.

A *Measures taken to ensure that the sampling is representative of the in situ portable XRF unit was used as an initial evaluation of Cu mineralisation. material collected, including for instance results for field However, entire holes were sampled. duplicate/second-half sampling. *Weights of samples submitted for assay were a nominal 2-3kg Sample size and *Whether sample sizes are appropriate to the grain size of the material being considered appropriate for the material sampled.

sampled. 2026 Diamond Drilling *HQ diamond core was cut, and half core sampled. This is considered appropriate for the material sampled. 2026 All Sampling *Commercially certified reference material of known copper grades and of suitable matrix were included in the laboratory assay sequence at a rate of 1 per 50 samples.

*First-split duplicate samples were collected at a rate of 1 per 50 samples. *Acoarse blank sample was inserted 1 in every 50 samples. *The Competent Person considers that the sample size is appropriate to the grain size of the material being sampled. Quality of assay data and laboratory tests * The nature, quality and appropriateness of the assaying and laboratory Historic procedures used and whether the technique is considered partial or total.

*For geophysical tools, spectrometers, handheld XRF instruments, etc, the *Lab certificates for a large number of drill samples have been retained from parameters used in determining the analysis including instrument make and historic drilling. These certificates will be used for the import of data into model, reading times, calibrations factors applied and their derivation, etc. Cobra’s drillhole database.