Announcement PDF ASX: HRZ ASX ANNOUNCEMENT 31 JULY 2025 QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 30 JUNE 2025 HIGHLIGHTS • Steady state safe gold production and revenue from Boorara and Phillips Find via the existing ore sale and toll milling agreements o Boorara Operations mined ~298k dry tonnes at 0.952 g/t mined for 6,446 oz sold during the June Quarter at an average gold price of $5,104/oz, generating ~$33 million in revenue o Ore processed from Phillips Find consisted of 18,676 dry tonnes at 1.97 g/t for 1,132 oz sold at an average price of $5,139/oz, generating ~$5.8 million to the Phillips Find JV • Commencement of the Burbanks Resource Definition drilling programme south of Coolgardie • GR Engineering awarded Black Swan plant engineering study to refurbish and repurpose the processing facility into a gold plant • Life of mine plan studies targeting long term Black Swan Project (BSP) mine feed commenced by external mining consultants • Appointment of experienced mining executive to the Horizon Minerals Board 1 • Successful $30m two tranche placement with a general meeting held on 10 July 2025 with all resolutions passed including Tranche 2 for ~$18.2 million of the placement. SEPTEMBER QUARTER ACTIVITIES 1 • Continued safe gold production and revenue from Boorara and Phillips Find via the existing ore sale and toll milling agreements. • Continuation of process engineering and life of mine studies for the Black Swan Project mine feed. • Ongoing drilling of the Burbanks Resource Definition drill programme. As announced to the ASX on 1 May 2025 Level 2, 16 Ord Street West Perth WA 6005 PO Box 1064 West Perth WA 6872 T: +61 8 9386 9534 E: info@horizonminerals.com.au horizonminerals.com.au ACN 007 761 186 ABN 88 007 761 186 HRZ QUARTERLY JUNE 2025 OVERVIEW Horizon Minerals Limited (ASX: HRZ) (Horizon or the Company) is pleased to provide the June 2025 Quarterly Activities Report. Horizon is a gold production and exploration company within the Kalgoorlie and Coolgardie regions of Western Australia (Figure 1). Horizon Minerals key objective is near term gold production and exploration upside within our large tenement package of 1,309 km2. In addition to 1.8Moz of gold resources, the Company holds a number of multi-commodity assets including the 20.2Moz Ag Nimbus silver-zinc project. Figure 1: Horizon’s project locations, regional geology and surrounding infrastructure Activities during the quarter focussed on delivering steady state production from the Company’s Boorara gold operation, located east of Kalgoorlie, and through the Phillips Find gold project to the north-northwest of Coolgardie. First gold pour was achieved during the March quarter, from both Boorara and Phillips Find through separate milling agreements with Paddington Mill and FMR Investments’ Greenfields Mill respectively, with production ramping up in the June quarter. Work commenced on the Burbanks drilling programme, as well as generating a long-term exploration target pipeline and increasing exploration personnel. There was minimal emphasis on in-ground exploration drilling during the quarter as resources and expenditure remained focussed on establishing steady state production and saleable ore stockpiles at Boorara and Phillips Find and generating cashflow for the Company. Page 2 of 26 HRZ QUARTERLY JUNE 2025 MINE DEVELOPMENT AND OPERATIONS The Company is successfully executing its strategy of bringing its extensive gold assets into production and generate strong cashflows in current times of record high gold prices with its Boorara and Phillips Find Gold Projects both achieving steady state production during the June quarter following first delivery of Phillips Find ore to the Greenfields Mill for processing and first gold pour during the March quarter. 2 Boorara Gold Project The Boorara Gold Project is located 15 km east of Kalgoorlie-Boulder (Figure 1) adjacent to the Super Pit, and 1 km southwest of the Nimbus Silver-Zinc Project site where established offices are connected to mains power and existing water supplies. The deposit is hosted in a quartz dolerite comprising a sheeted quartz vein array system with bounding shear zones and late-stage cross faults. Mineralisation occurs as northwest dipping sheeted and stockwork quartz-carbonate vein arrays within the quartz dolerite host rocks, and steeply dipping zones along sheared geological contacts trending to the north-northwest. The Mineral Resource Estimate (JORC 2012) for Boorara is shown in Table 1 below: Table 1: Boorara Mineral Resource Estimate 3 Boorara at 0.5 g/t lower cut-off grade Tonnes (Mt) Grade (g/t Au) Measured Resource category 1.12 1.22 Gold Metal (Oz) 44,000 Indicated 6.85 1.28 281,000 Inferred 2.56 1.26 103,000 Total 10.53 1.27 428,000 The Ore Reserve for Boorara is shown in Table 2 below. Table 2: Boorara Ore Reserve 4 Location Boorara Open Pit Reserve Category Tonnes (kt) Grade (g/t Au) Gold Metal (kOz) Proved 636.8 1.25 25.7 Probable 602.3 1.23 23.8 Total 1,239.1 1.24 49.5 The Company is not aware of any new information or data that materially affects the information presented and that the material assumptions and technical parameters underpinning the Boorara Ore Reserve Study continue to apply and have not materially changed. 2 As announced to the ASX on 31 March 2025. 3 As announced to the ASX on 1 August 2024, also see confirmations and tables on page 22-25. 4 As announced to the ASX on 1 August 2024, also see confirmations and tables on page 22-25. Page 3 of 26 HRZ QUARTERLY JUNE 2025 Table 3: Quarterly production data * Boorara Gold Project UoM Jul-Sep Oct-Dec Jan-Mar Apr-Jun Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 FY25 YTD MINING & HAULAGE Mined Ore Mined tonnes - 112,212 195,727 298,042 605,981 Mined Grade [est.] gr/t - 0.838 0.954 0.952 0.932 Gold Mined oz - 3,024 6,005 9,125 18,154 tonnes - 27,936 72,354 221,299 321,589 Hauled Grade [est.] gr/t - 0.798 0.880 0.936 0.911 Gold Hauled oz - 717 2,047 6,659 9,423 Hauled Ore Hauled PROCESSING & REVENUE Milled Ore Milled tonnes - 6,242 71,744 227,661 305,647 Milled Grade gr/t - 0.798 0.842 0.907 0.889 Contained Gold oz - 160 1,941 6,636 8,737 Gold Produced oz - - 1,163 6,446 7,609 Average Price A$/oz - - 4,256 5,104 4,975 Revenue $AM - - 4.9 33 37.9 Sales * The above table of production data was unaudited as at the time of this report. During the quarter mining and ore haulage from Boorara continued to progress at steady state with ~298k dry tonnes at 0.952 g/t mined for 6446 oz of gold ore sold in the June Quarter at an average gold price of $5,104/oz, generating ~$33 million in revenue (Figure 2). Boorara has continued to deliver ore as per the corporate plan during the June quarter. In addition to the ore treated at and hauled to the Paddington Mill during the quarter, by the end of the quarter the Company had generated ~200 kt of high-grade ore stocks on the Boorara and/or Paddington ROM pads, plus ~90 kt of lower-grade ore stockpiled at Boorara. Page 4 of 26 HRZ QUARTERLY JUNE 2025 Figure 2: Loading ore at Boorara to transport to the Paddington Mill Phillips Find Project The project is centred 45km north-northwest of Coolgardie (Figure 1) covering over 10km strike of prospective greenstone stratigraphy, and includes the Phillips Find Mining Centre (PFMC) where approximately 33,000oz of gold was produced between 1998 and 2015 from three open‐ pit operations; Bacchus Gift, Newhaven and Newminster. Under the Joint Venture (JV) Agreement between Horizon Minerals and BML Ventures Pty Limited (BML), all management, technical, operational and maintenance roles will be undertaken by BML with oversight by the Company. This is a low financial risk JV structure with BML to fund all project costs. Net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML. This allows Horizon to focus 100% on delivering its Boorara gold project. During the June 2025 quarter, continued steady state production has been achieved from the Newhaven and Newminster open pits (Figure 3 and Figure 4) with completion of the first processing campaign of ore from the Phillips Find JV with BML under the 200,000t Toll Milling Agreement with FMR Investments Pty Ltd (FMR) to treat Horizon ore from February to July 2025 at the Greenfields Mill. The ore processed from Phillips Find consisted of 18,676 dry tonnes at 1.97 g/t for 1,132 oz at an average price of $5,139/oz, generating ~$5.8 million to the Phillips Find JV. Page 5 of 26 HRZ QUARTERLY JUNE 2025 Figure 3: Mining the Newhaven pit at Phillips Find Figure 4: Mining the Newminster pit at Phillips Find Page 6 of 26 HRZ QUARTERLY JUNE 2025 Black Swan Project Update During the quarter, Horizon appointed GR Engineering Services (GRES) to undertake a PreFeasibility Study (PFS) for the conversion of the Black Swan processing plant from nickel to gold. The study is progressing well and remains on track for completion in the December 2025 quarter. GRES commenced the PFS with trade-off studies to confirm the optimum configuration of the comminution circuit for gold processing. The work assessed the SAG mill operation (SS-SAG), as proposed in the previous Poseidon Nickel DFS, and confirmed the existing circuit is appropriately sized to process the softer Horizon gold ores at a minimum sustainable rate of 1.5 million tonnes per annum. The PFS is broadly focused on two core areas: a (brownfields) upgrade of the existing comminution circuit and the design of a new (greenfields) gravity and CIL circuit to support gold processing. The existing flotation circuit from the original nickel processing plant will be retained in care and maintenance, preserving flexibility for future nickel or flotation-based gold operations. To date, the PFS has delivered process design criteria, preliminary flowsheets, equipment lists, and layout concepts, all of which are currently under review. In parallel, Horizon has engaged a range of specialist consultants and engineering firms to progress early-stage engineering, scoping studies, and technical investigations across key infrastructure areas including power supply, water supply, site roads, haulage corridors, tailings storage, accommodation, and communications. These groups are actively reviewing and validating infrastructure assumptions, conducting gap analyses, and ensuring alignment with the proposed processing plant design. This work is a key part of Horizon’s strategy to de-risk development and ensure that infrastructure planning is technically robust and fully integrated into the broader project. Figure 5: Black Swan processing plant Page 7 of 26 HRZ QUARTERLY JUNE 2025 EXPLORATION AND EVALUATION A programme of extensional and infill drilling commenced during the quarter at the company’s Burbanks Project south of Coolgardie (Figure 1). 5 Drilling will be conducted over two phases of RC (pre-collars) and diamond drill (tails) programs for a total of 30,000 planned drill metres in key areas to enhance resource continuity and confidence to enable future conversion to an Ore Reserve as well as targeted extensional drilling of known high grade lodes. Guided by the phase 1 results, the second phase of drilling will target down-dip and strike extensions of known high-grade lodes, aiming to further expand and grow the resource base. The exploration strategy also includes targeting the projected extensions of the recently identified Burbanks North as well as parallel structures to the east. Planning and approvals for the second phase of Burbanks drilling also commenced during the quarter as well as further refinement of the exploration target pipeline and development of the Resource portfolio. Early in the quarter Horizon completed and released a consolidated statement of group Mineral Resources as of 31 March 2025. 6 The updated group Mineral Resource Statement includes the addition of 422 kt Nickel into the resource portfolio from the Poseidon assets of Black Swan, Lake Johnston and Windarra nickel resources and associated infrastructure following the merger with Poseidon Nickel Limited finalised in the first quarter of 2025. Life of mine plan studies have been undertaken by an external mining consultant targeting long term Black Swan Project (BSP) mine feed. External consultants targeting infrastructure and technical requirements of the studies have also been engaged to support the Life of mine plan. To support project delivery, Horizon has appointed a full-time environmental approvals specialist responsible for overseeing approvals across the Company’s broader project portfolio. While the role covers all Horizon operations, it will be critical in managing the approvals pathway and timelines specific to the Black Swan Project. This includes reviewing existing permits, identifying regulatory gaps, and securing additional approvals required for construction and operation. Horizon places a high value on the environmental approvals process and recognises its essential role in maintaining compliance, reducing project risk, and enabling timely development in line with regulatory expectations. ACQUISITIONS AND DIVESTMENTS Horizon and Poseidon Nickel Limited (ASX: POS) (Poseidon) have completed the merger between the two companies by way of Schemes of Arrangement under the Corporations Act 2001 (Cth), whereby Horizon acquired 100% of the fully paid ordinary shares in Poseidon (Share Scheme) and 100% of the unlisted Poseidon options (Options Scheme, and together with the Share Scheme, the Schemes). The transaction has consolidated Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie-Lake Johnston districts. The combination provides a pathway for sustainable, long-term gold production and cashflow as an independent mid-cap producer. 5 6 As announced to the ASX on 26 June 2025. As announced to the ASX on 19 May 2025, Page 8 of 26 HRZ QUARTERLY JUNE 2025 Subsequent to the end of the June quarter, Metal Hawk Limited (ASX: MHK) notified the Company that they would not exercise their option under the Yarmany Project Option and Sale Deed (as announced to the ASX on 5 July 2023), with this project now 100% retained by Horizon. ENVIRONMENTAL, SOCIAL AND GOVERNANCE The Company recognises the importance of Environment, Social and Governance (ESG) factors and is committed to continuous improvement in this regard. During the quarter, a review continued of all internal policies, procedures, and governance principles to identify improvements and opportunities to ensure we meet or exceed our corporate license to operate. The Company previously worked with BDO Global to conduct an analysis of the business to identify opportunities to improve the Company’s ESG performance. Materiality surveys were completed for both internal and external stakeholders and completed a workshop to map the opportunities and generate an initial sustainability report. The aim of the process is to develop systems and processes to ensure we meet or exceed our social license to operate and adopt the sustainability report covering current and future activities. CORPORATE / FINANCE On 1 May 2025, the Company appointed Mr Rob (Robert) Waugh MSc, BSc, FAusIMM, MAIG to join its Board as a Non-Executive Director. Rob has more than 35 years’ experience in the resources sector with the majority in gold and base metals. Rob has held senior exploration management roles at WMC Resources Limited (WMC) and BHP Billiton Limited (BHP), prior to his role as Managing Director of Musgrave Minerals Limited which culminated in the $200 million acquisition by Ramelius Resources Limited in late 2023. On 30 May 2025, Tranche 1 of a two tranche placement was completed with funds raised of approximately A$11.8 million before costs. The remaining $18.2 million was to be approved by shareholders at a general meeting held on 10 July 2025. Subsequent to the June quarter, shareholders approved all resolutions in the 10 July 2025 general meeting which included Tranche 2 of the placement, and the ratification of previous share issues under Listing Rule 7.1 and 7.1A. Total cash at bank as at 30 June 2025 was A$15.7 million. In addition, the Company holds investments in ASX listed companies with a current value of approximately A$2.1 million (Table 5). As previously announced to the ASX on 19 October 2022 and 23 November 2022, the Company executed financial agreements with Nebari LLC for a US$5 million Convertible Loan Facility in two tranches of US$2 million and US$3 million respectively. Both tranches have been drawn down. For further information and terms of the Loan Agreement, we refer you to the ASX announcement dated 19 October 2022. During the June quarter, Nebari gave notice to convert USD1,307,112 from the convertible loan with Nebari Gold Fund 1, LP for 50,900,000 ordinary shares being issued on partial conversion of the convertible loan. In accordance with ASX Listing Rule 5.3.5, approximately $37,000 was paid to related parties or their associates during the quarter, comprising Non-Executive Director fees and superannuation. Page 9 of 26 HRZ QUARTERLY JUNE 2025 Table 4: Issued Share Capital HRZ Fully Paid Ordinary Shares Issued at 30 June 2025 2,466,042,792 HRZO Listed Options (exercise price 8.7c, expiry 21 Sep 2025) 26,723,171 HRAZO Unlisted Options (exercise price 5.19c, expiry 3 Sep 2026) 18,024,910 HRZAN 24,594,600 Code Class of securities Director & Employee Performance Rights Expired HRZOB Listed Options (exercise price 9.7c, expiry 30 Jun 2025) 51,871,015 Table 5: Listed Company Investments Company Number Value at 30 June 2025 Richmond Vanadium Technology 19,958,992 1 $1,596,719 Metal Hawk Limited 1,134,430 1 $470,788 Dundas Minerals Limited 3,234,327 1 $51,749 TOTAL 1. $2,119,256 Liquid asset This quarterly report has been authorised by the board of directors for release. Julian Tambyrajah CFO & Company Secretary 31 July 2025 For further information contact Horizon on: T: + 61 8 9386 9534 Page 10 of 26 HRZ QUARTERLY JUNE 2025 APPENDICES TENEMENT SCHEDULE Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter L26/261 100% - - M26/346 100% - - M26/499 100% - - M26/549 100% - - M26/621 100% - - P26/4256 100% - - P26/4579 100% - - P26/4580 100% - - MLA26/855 100% - - PLA26/4318 100% - - E26/220 100% - - P24/5143 - - 100% P24/5144 - - 100% P24/5145 100% - - P24/5146 100% - - P24/5147 - - 100% P24/5148 - - 100% P24/5149 - - 100% P24/5150 100% - - P24/5151 - - 100% P24/5152 - - 100% P24/5153 - - 100% P24/5154 - - 100% P24/5155 100% - - P24/5156 100% - - P24/5157 100% - - P24/5158 100% - - P24/5159 - - 100% P24/5160 100% - - P24/5348 100% - - P24/5415 100% - - P24/5637 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA BINDULI BLACK FLAG Page 11 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter P24/5638 100% - - P24/5639 100% - - P24/5640 100% - - E70/5980 100% - - E70/5981 100% - - E70/6551 100% - - ELA70/6552 100% - - ELA70/6553 100% - - E70/6554 100% - - ELA70/6555 100% - - E25/349 100% - - E25/543 100% - - E25/564 100% - - L25/48 100% - - L25/50 100% - - L25/51 100% - - M25/182 100% - - M25/327 100% - - M25/329 100% - - M25/330 100% - - M25/333 100% - - M25/357 100% - - P25/2449 100% - - P25/2633 100% - - P25/2670 100% - - P25/2733 100% - - P25/2748 100% - - P25/2755 100% - - P25/2761 100% - - 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA BLACK FLAG BRIDGETOWN-GREENBUSHES CANNON GOLD MINE CHADWIN P16/3121 Page 12 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Prospect/Tenement Notes Percentage interest held at the end of the quarter Percentage interest Percentage acquired during interest disposed the quarter during the quarter WESTERN AUSTRALIA COOLGARDIE E16/589 100% - - E16/590 100% - - E16/591 100% - - E16/592 100% - - LA15/429 100% - - LA15/430 100% - - M26/41 100% - - M26/433 100% - - M26/534 100% - - L27/88 100% - - M27/485 100% - - P26/4535 - - 100% P27/2380 100% - - P27/2381 100% - - G27/1 100% - - L27/90 100% - - L27/91 100% - - L27/92 100% - - L27/93 100% - - M27/156 100% - - M15/1204 100% - - M15/652 100% - - P15/6380 100% - - GOLDEN RIDGE (NIMBUS) KALPINI KANOWNA BELLE (NIMBUS) PENNY’S FIND ROSE HILL Page 13 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter E26/209 100% - - P26/4316 100% - - P26/4317 100% - - P26/4319 100% - - P26/4320 100% - - P26/4321 100% - - P26/4322 100% - - P26/4323 100% - - P26/4324 100% - - P26/4325 100% - - P26/4326 100% - - P26/4327 100% - - P26/4328 100% - - P26/4329 100% - - P26/4330 100% - - P26/4331 100% - - P26/4332 100% - - P26/4333 100% - - P26/4334 100% - - P26/4335 100% - - P26/4336 100% - - P26/4337 100% - - P26/4338 100% - - P26/4339 100% - - P26/4340 100% - - P26/4341 100% - - P26/4342 100% - - P26/4343 100% - - P26/4344 100% - - P26/4345 100% - - P26/4350 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA LAKEWOOD Page 14 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter 100% - - 100% - - M24/919 100% - - M24/959 100% - - P24/4817 100% - - P24/5046 100% - - P24/5464 100% - - P24/5507 100% - - P24/5508 100% - - MLA24/1004 100% - - MLA24/1020 100% 100% - E15/1655 100% - - E16/494 100% - - E16/497 100% - - E16/503 100% - - E16/506 100% - - E16/507 100% - - E16/510 100% - - E16/519 100% - - E16/521 100% - - E16/525 100% - - E16/526 100% - - P16/3212 100% - - P16/3213 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA WHITE FLAG E26/168 M26/616 1 WINDANYA YARMANY YARMANY Page 15 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter E25/511 100% - - L25/32 100% - - L25/35 100% - - L25/36 100% - - L26/240 100% - - L26/252 100% - - L26/266 100% - - L26/270 100% - - L26/274 100% - - L26/275 100% - - M25/355 100% - - M26/29 100% - - M26/161 100% - - M26/277 100% - - M26/318 100% - - M26/490 100% - - M26/598 100% - - P25/2403 - - 100% P25/2404 - - 100% P25/2405 - - 100% P25/2450 100% - - P25/2469 100% - - P25/2470 100% - - P25/2471 100% - - P25/2472 100% - - P25/2473 100% - - P25/2474 100% - - P25/2475 100% - - P25/2526 100% - - P25/2551 100% - - P25/2552 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA NIMBUS/BOORARA Page 16 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter P25/2643 100% - - P25/2644 100% - - P25/2645 100% - - P25/2646 100% - - P25/2647 100% - - P25/2697 100% - - P25/2732 100% - - P26/4199 100% - - P26/4204 100% - - P26/4205 100% - - P26/4206 100% - - P26/4207 100% - - P26/4208 100% - - P26/4299 100% - - P26/4300 100% - - P26/4301 100% - - P26/4302 100% - - P26/4381 100% - - P26/4382 100% - - P26/4383 100% - - P26/4384 100% - - P26/4385 100% - - P26/4386 100% - - P26/4405 100% - - P26/4431 100% - - P26/4432 100% - - P26/4505 100% - - P26/4509 100% - - P26/4510 100% - - P26/4518 100% - - P26/4582 100% - - P27/2265 - - 100% P27/2266 - - 100% Prospect/Tenement Notes WESTERN AUSTRALIA NIMBUS/BOORARA Page 17 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter P27/2267 - - 100% P27/2269 - - 100% P27/2429 100% - - P27/2466 100% - - P27/2467 100% - - M15/161 100% - - M15/731 100% - - MLA15/1845 100% - - P15/5249 100% - - P15/5412 100% - - P15/6314 100% - - P15/6381 100% - - P15/6382 100% - - PLA15/6417 100% - - PLA15/6549 100% - - P15/6757 100% - - P15/6774 100% - - P15/6775 100% - - 100% - - M16/130 100% - - M16/133 100% - - M16/168 100% - - M16/171 100% - - M16/242 100% - - M16/258 100% - - M16/550 100% - - MLA16/556 100% - - MLA16/597 100% - - P16/2985 100% - - P16/2986 100% - - P16/2987 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA NIMBUS/BOORARA BURBANKS PHOENIX 2 2 M15/119 PHILLIPS FIND 2 Page 18 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter P16/2988 100% - - P16/2998 100% - - P16/2999 100% - - P16/3037 100% - - P16/3038 100% - - P16/3039 100% - - P16/3040 100% - - P16/3041 100% - - P16/3042 100% - - P16/3043 100% - - Prospect/Tenement Notes WESTERN AUSTRALIA PHILLIPS FIND 2 P16/3084 3 85% - - P16/3085 3 85% - - P16/3086 3 85% - - P16/3087 3 85% - - P16/3088 100% - - P16/3358 100% - - PLA16/3525 100% - - 100% - - G27/2 100% - - L24/219 100% - - L24/222 100% - - L27/57 100% - - L27/58 100% - - L27/59 100% - - L27/74 100% - - L27/75 100% - - L27/77 100% - - L27/78 100% - - L27/95 100% - - L27/96 100% - - M27/200 100% - - M27/214 100% - - M27/216 100% - - M27/39 100% - - BLACK SWAN 4 Page 19 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Prospect/Tenement Notes Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter WESTERN AUSTRALIA LAKE JOHNSTON 4 E63/2244 5 80% - - E63/2256 5 80% - - G63/5 100% - - G63/8 100% - - L63/51 100% - - L63/52 100% - - L63/55 100% - - L63/57 100% - - M63/163 100% - - M63/282 100% - - M63/283 100% - - M63/284 100% - - M63/292 100% - - M63/293 100% - - M63/294 100% - - M63/522 100% - - M63/523 100% - - M63/524 100% - - 100% - - G38/21 100% - - L38/118 100% - - L38/119 100% - - L38/220 100% - - L38/121 100% - - L38/122 100% - - L38/199 100% - - L38/218 100% - - L38/225 100% - - L39/184 100% - - L39/221 100% - - L39/224 100% - - M261SA 100% - - M38/1244 100% - - M38/1245 100% - - M39/1075 100% - - WINDARRA 4 Page 20 of 26 HRZ QUARTERLY JUNE 2025 TENEMENT SCHEDULE continued Prospect/Tenement Notes Percentage interest held at the end of the quarter Percentage interest acquired during the quarter Percentage interest disposed during the quarter JOINT VENTURES WESTERN AUSTRALIA YARMANY – GOLD TIGER RESOURCES (AUS) LIMITED E16/492 6 25% - - E16/499 6 25% - - MT THIRSTY – CONICO LTD (FORMERLY AUSTRALIAN COBALT LTD) E63/1267 7 50% - - E63/1790 7 50% - - GLA63/9 7 50% - - L63/80 7 50% - - L63/81 7 50% - - L63/91 7 50% - - MLA63/669 7 50% - - P63/2045 7 50% - - R63/4 7 50% - - 80% - - LAKE JOHNSTON – ESSENTIAL METALS E63/1784 8 Notes (1) Royalty of A$1 per tonne of ore mined and treated from M26/616 is payable to Pamela Jean Buchhorn. (2) On 18 June 2024, Horizon implemented the merger with Greenstone Resources Limited. The transaction brought Greenstone’s complementary assets over to Horizon as listed in the above tenement schedule. (3) Hayes Mining Pty Ltd own 15% interest in P16/3084 to P16/3087. (4) On 19 February 2025, Horizon implemented the merger with Poseidon Nickel Limited. The transaction brought Poseidon’s complementary assets over to Horizon as listed in the above tenement schedule. (5) In December 2023, Poseidon entered into a farm-in agreement with Mantis Resources to earn-in up to 100% ownership interest in the two tenements which are close proximity to the Lake Johnston Project. (6) An earn-in JV whereby Gold Tiger Resources (Australia) Limited can earn 90% over 4 stages (4 years) by spending A$300,000 and paying Horizon A$120,000 non-refundable cash amounts. Gold Tiger Resources (AUS) Limited has earned a 75% interest, leaving Horizon with a 25% interest. (7) The Mt Thirsty Cobalt-Nickel-Manganese Project is a large laterite hosted resource, held in a 50:50 joint venture by Horizon (formerly Greenstone Resources) and Conico Ltd (ASX:CNJ). Conico Ltd is the Joint Venture manager. The Project is located 16km from the historic mining town of Norseman, Western Australia. 150km to the north lies Kalgoorlie, the epicentre of the West Australian mining industry and 195km to the south is the port of Esperance. Access to the site is primaril