REG - Mila Resources Plc - Yarrol Drilling Progress and Exploration Pipeline

Mila ResourcesAnnouncement

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RNS Number : 1875X  Mila Resources PLC  19 March 2026

Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

 

19 March 2026

Mila Resources Plc

('Mila' or the 'Company')

 

Yarrol Drilling Progress and Exploration Pipeline

 

Mila Resources Plc, the post-discovery gold exploration accelerator, is
pleased to provide an operational update on its ongoing exploration activities
across its Queensland gold portfolio, including the Yarrol Gold Project
("Yarrol") and regional exploration targets at Monal and Mt Steadman.

 

Highlights

·      Yarrol reverse circulation ("RC") drilling campaign underway,
with approximately half of the planned ~1,600m programme completed despite
challenging weather conditions

o  Initial RC samples submitted to the laboratory, with the programme
designed to test the limits of mineralisation along strike and infill gaps in
the historic resource area

·      Diamond drilling at Yarrol successfully extends the mineralised
system to ~300m depth, confirming structural controls on gold mineralisation

o  Additional core samples submitted for analysis as geological understanding
of the system improves

·      Exploration advancing at Monal, targeting Cannindah-style
copper-gold porphyry systems

o  Early-stage mapping and sampling completed across Monal, identifying
high-priority geophysical targets

·    Exploration advancing at Mt Steadman, where mineralisation style fits
with a broader Yarrol-style multi-target gold portfolio

 

Yarrol Gold Project - Drilling Update

The Company has completed sampling in early 2026, for a diamond drilling
campaign at Yarrol, designed to improve geological understanding of the
structures hosting gold mineralisation and to extend knowledge of the system
at depth.

 

Drilling successfully traced the gold-bearing system to a depth of 300m
confirming the vertical continuity to the structurally controlled mineralised
system. It greatly enhanced the quality of data on the deposit and will be
critical in assessing future work.  The team believes that near-surface
drilling offers the fastest and most cost-effective pathway to reaching
critical mass, while deeper drilling remains an area of significant potential
that will be revisited in due course.

 

Following a review of the initial core sampling results, the technical team
elected to submit additional samples as the geological understanding of the
system continues to improve. These additional assays are expected shortly and
will be released in due course.

The Company's focus remains on demonstrating the scale and continuity of the
Yarrol mineralised system, with drilling designed to expand known
mineralisation.

 

In parallel, Mila has commenced an RC drilling campaign at Yarrol targeting
both expansion of the known mineralised footprint and infill of gaps in
historical drilling to prove continuity. The programme comprises approximately
1,600 metres of drilling and is designed to rapidly test the limits of
mineralisation and prioritise areas for future resource expansion drilling.

 

Despite challenging weather conditions, approximately half of the campaign has
been completed, with the first batch of samples already submitted for
laboratory analysis.

 

Importantly, the temporary suspension of drilling due to weather conditions
has not required drilling equipment to remain on standby mitigating any costly
downtime and budget overruns.

 

We would like to highlight that all results will be released to the market in
context, in batches, rather than individual drillholes, following
interpretation work within the broader geological framework. This may include,
and not limited to re-sampling of sections, or re-submission.

 

The Yarrol Project currently hosts a non-JORC compliant gold resource, and
drilling to date has consistently intersected mineralisation as the Company
continues to step out along strike and test new targets within the system.

 

Monal Project - Copper-Gold Exploration

The Company is also progressing exploration across the Monal Project, where
geological work has identified targets associated with Cannindah-style
copper-gold porphyry systems.

 

The nearby Mt Cannindah deposit is a large-scale high-level porphyry system
hosting copper, gold and molybdenum mineralisation. The project, held by
Cannindah Resources, currently hosts a resource of 14.5Mt at 1.09% Cu Eq
associated with breccia-hosted mineralisation.

 

Porphyry systems of this type commonly occur as clusters of vertically
oriented mineralised pipe-like structures, offering the potential for multiple
mineralised centres within a broader district-scale system.

 

Historical shallow drilling at Monal has already returned encouraging results.
At the Boggy Creek prospect, previous drilling intersected:

 

·      7m at 2.04 g/t Au, and

·      17m at 0.75 g/t Au

 

The Mila technical team considers these results vectoring tools, towards a
larger orebody and further regional targets, represent clear follow-up
opportunities. Initial grab sampling and first-pass geological mapping
completed earlier this year, have helped the team vector toward high-priority
targets. The Company is now designing follow-up exploration programmes,
including induced polarisation (IP) and magnetic geophysical surveys to
further refine drill targets.

 

Mt Steadman - Regional Gold Target

Exploration work is also continuing at Mt Steadman, where early geological
work suggests the system may be analogous to the nearby Yarrol mineralisation,
though located on an adjacent fault network.

 

Given the proximity of the two projects, Mila is increasingly evaluating the
area as part of a broader mineralised corridor that could help quickly build
critical mass potential.

 

The region has seen historical gold production from shallow pits and shafts,
with limited historic drilling demonstrating extensions of mineralisation at
depth. However, the area has not benefited from modern systematic sampling
programmes, leaving significant potential to define the true contained metal
potential of the system.

 

The Company will update investors in due course as exploration programmes are
defined to advance drill targeting across the project.

 

Mark Stephenson, CEO of Mila Resources, commented:

"Our work programmes across Queensland continue to advance well and
demonstrate the scale of the opportunity within Mila's portfolio.

 

"At Yarrol, drilling is focused on expanding the footprint of an already
established mineralised system. The diamond drilling programme confirmed that
the system continues to depth, while the ongoing RC programme is designed to
rapidly test the limits of mineralisation along strike and prioritise areas
for future resource expansion.

 

"Beyond Yarrol, the broader exploration pipeline continues to develop. At
Monal we see strong potential for Cannindah-style copper-gold mineralisation,
with early field work already identifying compelling targets that will be
refined through geophysics before drilling."

 

**ENDS**

 

For more information visit www.milaresources.com or contact:

 

 Mark Stephenson                      info@milaresources.com 

 Mila Resources Plc 

  
 Jonathan Evans                       +44 (0) 20 7100 5100 

 Tavira Financial Limited 

  
 Nick Emerson                         +44 (0) 20 3143 0600 

 SI Capital  

  
 Damon Heath                          +44 (0) 20 3971 7000

 Shard Capital Partners LLP
 Susie Geliher / Charlotte Page       +44 (0) 20 7236 1177 

 St Brides Partners Limited 

 

 

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