Carnavale Resources Limited CAV

Carnavale Resources Ltd managing director Humphrey Hale talked with Proactive about detailed metallurgical testwork from the Kookynie Gold Project in Western Australia, where gold recoveries reached as high as 99%. The Definitive Feasibility Study-level program returned gold recoveries of 98% from oxide and transitional material and 99% from fresh rock at a 106-micron grind size. Gravity gold recovery was also strong, ranging from 71% in oxide material to more than 81% in fresh rock. Hale said the results confirmed earlier metallurgical work while providing substantially more detail across the

Carnavale Resources Ltd managing director Humphrey Hale talked with Proactive about progress toward developing the company’s high-grade Kookynie Gold Project during the June 2026 quarter. Hale said Carnavale had completed most of the technical work required for the bankable feasibility study (BFS), with the remaining work focused on mine scheduling, financial modelling, compiling the study reports and preparing the final publication. The project’s updated mineral resource stands at 855,000 tonnes grading 4.4 grams per tonne gold for approximately 120,000 ounces. Hale highlighted the increased