Haranga Confirms 800m Gold Trend in Senegal With Only 16% of 5km Corridor Tested

Haranga confirms 800m continuous gold trend at Ibel South

Haranga Resources has identified a potential >800m continuous mineralised trend at the Ibel South Gold Project in Senegal following Phase 2 Aircore (AC) drilling. The discovery forms part of a broader ~5km gold anomalous corridor defined by termite mound geochemistry, of which only approximately 850m of strike length has been tested to date by drilling. The Phase 2 programme was completed safely, on schedule and within budget between 6 November and 20 November 2025, delivering 3,197 metres across 65 holes.

The drilling has tested the system to depths of only 25m to 85m, with several holes ending in mineralisation, indicating the gold system remains open at depth and along strike. This creates a clear pathway to resource definition, with substantial untested extensions providing near-term exploration upside.

Phase 2 drilling returns multiple wide gold intercepts

Phase 2 drilling returned multiple wide, continuous gold intercepts reported on 4m composite samples at a 0.3 g/t Au cut-off. The results demonstrate a laterally extensive gold system at shallow depths, with hole 25-IBS-AC-063 ending in mineralisation, supporting depth continuity.

Wide, continuous intercepts from shallow depths demonstrate scale potential. Mineralisation ending at hole depth indicates opportunity for deeper high-grade zones, with several holes intersecting gold-bearing altered greywacke at end of hole, confirming the system extends into bedrock.

What is an orogenic gold system and why it matters

Orogenic gold deposits are structurally controlled gold systems formed during mountain-building events, typically hosted in deformed sedimentary or volcanic rocks. These systems can host large-scale, high-grade orebodies and are characterised by quartz veining, alteration assemblages, and structural complexity.

The Birimian-aged rocks of West Africa host some of the world’s largest gold deposits, including multi-million ounce mines in Senegal, Mali, and Burkina Faso. Mineralisation at Ibel South is hosted in altered greywacke with quartz veins, showing classic orogenic signatures including albite-epidote alteration, silicification and pyrite mineralisation. The Mako Supergroup rocks at Ibel South are geologically comparable to units hosting major deposits including Massawa and Douta.

The geological signatures at Ibel South are consistent with economically significant deposits in the proven West African Birimian Belt, providing confidence that systematic exploration is testing a system with district-scale potential.

Structural interpretation identifies potential high-grade targets

A review of Phase 1 and Phase 2 drilling data has identified flexures in the mineralised trend, suggesting possible cross-faulting. The Phase 1 high-grade zones exhibited increased fracturing and deeper oxidation compared to Phase 2 drill logs, consistent with greater structural activity. Large quartz vein systems up to 15-20m apparent thickness have been intersected in the supergene profile.

Key structural observations include:

1. Flexures in the mineralised trend suggest cross-faulting
2. Phase 1 high-grade zones show deeper oxidation and increased fracturing
3. Large quartz vein systems up to 15-20m thickness intersected
4. Structural model supports depth continuity of Phase 1 high-grade zones

Structural complexity in orogenic systems often correlates with higher gold grades. Identifying fault intersections provides high-priority drill targets for the next phase, with the interpretation guiding future drill targeting for potential higher-grade zones at depth.

Managing Director Peter Batten on the discovery

Peter Batten, Managing Director

“Phase 2 drilling has delivered an important outcome by confirming a laterally extensive, structurally controlled orogenic gold system with potential continuity of more than 800 metres of strike and which remains open at depth and along strike.”

He noted that several holes have ended in mineralisation, “reinforcing our view that the system remains open at depth and strengthening the case for deeper drilling to properly assess its scale and geometry.”

Phase 1 results provide context for high-grade potential

Phase 1 results, reported on 1m samples, delivered exceptional high-grade intercepts that drove the decision to expand drilling. The outstanding results demonstrate the potential for high-grade zones within the broader mineralised system, with Phase 2 confirming lateral continuity.

Key Phase 1 intercepts included:

• 25-IBS-AC-008: 20m @ 6.00 g/t Au from 12m, including 4m @ 14.16 g/t Au
• 25-IBS-AC-016: 12m @ 6.12 g/t Au from 42m, including 7m @ 10.05 g/t Au
• 25-IBS-AC-017: 7m @ 9.06 g/t Au from 7m
• 25-IBS-AC-033: 1m @ 28.93 g/t Au from 23m

Phase 2 confirms the lateral continuity of the broader system, while future drilling will vector into deeper extensions beneath the Phase 1 high-grade zones to assess scale and geometry of the primary gold system in fresh bedrock.

Next steps and Q1 CY2026 drilling programme

Haranga plans to commence further drilling in Q1 CY2026 following receipt of necessary approvals. The programme will target three key objectives, with large portions of the surface geochemical anomaly remaining untested by drilling.

Drilling objectives include:

1. First-pass drilling of Priority 1 and Priority 2 TMS anomalies, which remain untested
2. Testing potential cross-fault sites within the northwest TMS anomalism
3. Additional drilling of the Phase 1 high-grade zone, targeting mineralisation in fresh bedrock beneath supergene cover and down-dip/along-strike extensions

A ~5km anomalous corridor has been defined by termite mound geochemistry, with only ~850m tested to date. The upcoming drilling will target fresh bedrock below the supergene profile to properly evaluate the primary orogenic gold system.

The programme has clear catalysts: testing new anomalies for additional discoveries and deeper drilling beneath proven high-grade zones to assess scale and geometry of the primary gold system.

Investment thesis for Ibel South

Early-stage drilling has confirmed a significant orogenic gold system with >800m strike, open at depth and along strike, in a proven gold province. The company’s dual-asset strategy includes Ibel South in Senegal alongside the Lincoln Gold Project in California, with systematic exploration de-risking the project ahead of deeper drilling.

The investment case is supported by:

• Confirmed >800m mineralised trend with potential depth extensions
• Only ~850m of the ~5km anomalous corridor tested to date
• Classic orogenic gold signatures in proven Birimian Belt geology
• Clear drilling catalysts in Q1 CY2026 with approvals progressing
• Multiple untested Priority 1 and Priority 2 anomalies remain

Ibel South is emerging as a potential district-scale gold opportunity at an early stage, with substantial exploration upside and near-term drilling catalysts. The structural interpretation provides a clear targeting model for high-grade zones, while the laterally extensive system confirmed by Phase 2 drilling demonstrates scale potential.

Could Haranga’s 800m Gold Trend Deliver District-Scale Discovery?

Haranga Resources has confirmed a laterally extensive orogenic gold system at Ibel South with over 800 metres of strike length, yet only 850 metres of a ~5km anomalous corridor has been tested to date. Phase 2 drilling has delivered multiple wide, continuous gold intercepts at shallow depths, with several holes ending in mineralisation—indicating significant potential remains open at depth and along strike.

With Q1 CY2026 drilling set to target untested Priority 1 and Priority 2 anomalies, plus deeper extensions beneath proven high-grade zones, the next phase could define the scale and geometry of this primary gold system. For detailed drilling results, structural interpretations and upcoming catalysts, visit the Haranga Resources investor centre.