September 2026 Quarterly Report

PRESS RELEASE | 22 October 2026 | EURONEXT GROWTH: ALAON | ASX: AON

SEPTEMBER 2026 QUARTERLY REPORT

Apollo Minerals Limited (Euronext Growth: ALAON, ASX: AON) (“Apollo Minerals” or “Company”) presents its quarterly report for the period ending 30 September 2026.

During the quarter, the Company continued to progress activities at its Couflens Tungsten-Gold Project (“Couflens”) in France, that includes the historical Salau mine (“Salau”), which was one of the world's highest grade tungsten mines when it operated from 1971 to 1986. In addition to tungsten, Couflens contains significant gold values up to 24.5g/t Au in rock chips at surface.

Couflens is considered strategically important to the security and resilience of France's supply chains. The Company continues to work with the French State and local stakeholders to advance the project in line with best-in-class environmental practices.

Highlights:

• Salau is a historical high-grade tungsten mine recorded to have produced approximately 930,000 tonnes at 1.5% WO₃ for around 13,950 tonnes of WO₃ in concentrate prior to closure, with production grades of up to 2.5% WO₃ in the mine's latter years.
• Couflens combines opportunities for the potential reactivation of the Salau mine coupled with significant untapped regional exploration potential, evidenced by widespread high grade tungsten mineralisation at surface, with grades up to 8.25% WO₃.
• Deposit remains open at depth, with previous drilling below the base of the existing underground development that confirmed the continuation of the mineralised system.
• Potential exists for shear hosted gold mineralisation to be associated with large regional fault structures extending along a 5km corridor to the west of Salau, with the presence of gold confirmed down to depths of 600m, highlighting significant scale opportunity.
• Detailed airborne geophysical survey completed over key areas of Couflens, through a partnership and collaboration with the French Geological Survey (“BRGM”) and its subsidiary BRGM Explore, as part of the nation-wide mineral resources inventory project (Inventaire des Ressources Minérales - the “IRM Project”) on behalf of the French State.
• Historical data reviews defined the new Véronique-Upper Zone, which exhibits intercepts of up to 4.3m @ 1.3% WO₃ and multiple intervals of unsampled historical core displaying logged mineralisation, extending along strike of the high-grade Véronique Zone (up to 20m @ 1.4% WO₃).
• The Véronique and Véronique-Upper Zone target area will be the immediate focus for Phase 1 drilling with demonstrated trends for over 400m along strike and 600m along dip. Véronique was mined historically at 2.5% WO₃ in Salau's final year of operation.
• The Company progressed permitting, studies, engagement with the government and local stakeholders, and discussions with potential contracting partners to advance mine access, in preparation for future underground exploration and drilling activities.
• The Company is in a strong financial position with quarter end cash and cash equivalents of $6.4 million and listed investments of $0.4 million.

For further information contact:

Neil Inwood

Managing Director

Tel: +61 8 9322 6322

Email: info@apollominerals.com.au

Aldebaran Global Advisors

Listing Sponsor Euronext Growth

Email: hello@aldebaran-advisors.com