Bulk Sample from Cusp and new prospect identified

New Frontier Minerals Limited / Index: LSE & LSE / Epic: NFM / Sector: Industrial Metals and Mining

13 August 2025

New Frontier Minerals Limited

("NFM" or the "Company")

Bulk Sample from Cusp and new prospect identified

ahead of inaugural drill program

New Frontier Minerals Limited (LSE/ASX: NFM) is pleased to announce the geology team has identified additional high-priority targets for drill-testing at its Harts Range Project, located 140km north-east of Alice Springs in the Northern Territory, Australia.

While waiting for regulatory approval required for inaugural drilling campaign to commence, the Company has collected a 25kg bulk sample from the Cusp Prospect with the sample submitted to Intertek for comprehensive analysis. Additionally, assay results from the July 2025 field program have confirmed a new drill target at the Headingley Prospect, located approximately 620 metres west of the mineralised Bobs Prospect.

Highlights

· Ahead of the upcoming drilling campaign, the geology team has collected a 25kg bulk sample from the Cusp Prospect for comprehensive geochemical analysis

· The bulk sample was taken from the HRS004 sample site which previously returned grades¹ of up to 9.97% TREO (including 1.13% Dy2O3, 0.18% Tb4O7), 25.46% Nb2O5 and 4.77% Ta2O5

· Assay results from the newly identified Headingley Prospect confirm Rare Earth and Titanium mineralisation within the 2.3 kilometre mineralised corridor along strike from the Cusp, Bobs, Paddington, Westminster, and Old Trafford prospects, with results including:

o  HRS067: 0.73% TREO (inc 0.031% Dy2O3, 0.006% Tb4O7)

o  HRS068 and HRS071: 1.8% TiO2 and 2.3% TiO2 respectively

· Australia's Rare Earth sector gains momentum with a proposal for a floor price and national offtake agreements positioning the Hart Range Project to benefit from critical minerals initiatives4

· NFM has commenced regulatory approvals for its maiden Reverse Circulation (RC) drilling campaign at Harts Range, planned for Q3 FY25

Chairman Gerrard Hall commented: "The collection of this bulk sample marks an important milestone in executing our strategy and commitment to a systematic exploration approach to ensure confidence in the project's potential. This approach not only enhances our understanding of the mineral system but also positions NFM to make a significant discovery. Additionally, assay results from the Headingley Prospect confirm rare earth mineralisation and titanium oxide grades of up to 1.8% and 2.3% within a 2.3 km corridor extending from nearby prospects. The high-grade multi commodities reinforces the mineral potential of the area and underscores the opportunity to unlock value for shareholders as we ramp up exploration activities."

BULK SAMPLE COLLECTED FROM CUSP PROSPECT

The 25 kg bulk sample was collected from the Cusp Prospect within the Harts Range Project (Figures 1a and 1b). The sample was taken from the outcrop which comprised of clustered fragments of mineralised pegmatite containing samarskite which were readily identifiable by weight and colour, enabling efficient bulk sample collection.

Previous surface sampling (HRS004) at the Cusp Prospect has returned high-grade heavy rare earth mineralisation, with assays from earlier campaigns reporting grades1 up to 9.97% TREO (including 1.13% Dy2O3, 0.18% Tb4O7), 25.46% Nb2O5 and 4.77% Ta2O5 (Figure 2 & 3).

Figures 1a and 1b: Bulk sample collected from Cust Prospect (Location: 507859E, 7447754N) (Source: NFM Team)

Visual Estimates ASX Disclosures - Figure 1a and 1b

Figures 1 a) and b) show a 25 kg bulk sample collected from surface to ~0.3 metres deep containing mineralised pegmatite rock and soil, which included small fragments to golf ball and large baseball sized clusters of samarskite material at the Cusp Prospect.

Results from the geochemical analysis will be available in approximately one months' time. More details of these bulk samples are given in Appendix A, which also lists an estimate range of samarskite (1-2%) concentration that will be updated by laboratory assay.

Cautionary Statement

Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

DISCOVERY OF NEW DRILL TARGET AT HEADINGLEY PROSPECT

Assay results from the July 2025 field campaign have identified additional heavy rare earth and titanium mineralisation, extending the mineralised corridor along strike from the Cusp, Bobs, Paddington, Westminster and Old Trafford Prospects (Figure 4).

Analysis of the geochemical results from the newly identified Headingley Prospect have confirmed the occurrence of rare earth and titanium mineralisation within a 2.3 kilometre mineralised corridor extending along strike from the Cusp, Bobs, Paddington, Westminster, and Old Trafford prospects. Notable results include HRS067, which returned 0.73% TREO, incorporating 0.031% Dy₂O₃ and 0.006% Tb₄O₇, and HRS068 and HRS071, which recorded titanium grades of 1.8% TiO₂ and 2.3% TiO₂ respectively.

Table 1: Headingley Prospect sample results (Source: Intertek Assay Results3 refer to Appendix C).

Figure 4: New prospect Headingley discovered from July 2025 Harts Range field program

The newly identified Headingley Prospect located approximately 620 metres west of the Bobs Prospect, is seen to be hosted within a mineralised amphibolite unit. Field observations identified a ferruginous, dark black-green amphibolite unit along a shear zone, in contact with an unmineralised pegmatite. This unit is likely a continuation of the Old Trafford structure, located approximately 70 metres further west.

Rock samples from the site are notably dense and returned readings of approximately 10 μSv/h, consistent with mineralisation observed at the Old Trafford Prospect. Preliminary field identification suggests finely disseminated samarskite within the altered amphibolite matrix. The amphibolite unit is oriented in an east-west direction, reinforcing the structural context to the mineralised setting.

AUSTRALIAN GOVERNMENT'S PROPOSED FLOOR PRICE ON RARE EARTHS

The Albanese government is exploring mechanisms to establish a floor price for rare earths and other critical minerals, responding to U.S. efforts to counter China's dominance in the sector4. Through a proposed Critical Minerals Strategic Reserve and national offtake agreements, the initiative seeks to ensure price stability, reduce market volatility, and attract private investment.

The focus is on minerals critical for strategic and defence applications, particularly heavy rare earths, where Australia holds a strong global supply position. New Frontier Minerals is well-positioned to benefit, with its Harts Range Project in the Northern Territory hosting significant heavy rare earth mineralisation.

PROPOSED ISSUE OF PERFORMANCE RIGHTS

Subject to shareholder approval at the 2025 AGM, the Board has resolved to issue 17,500,000 Performance Rights to Director and key executives of the Company, on the following terms:

· Exercise price: $nil

· Vesting conditions:

o  50% upon the 20-day VWAP of the Company's Shares being equal to or greater than $0.02.

o  50% upon one of the below milestones being met:

· Harts Range drill intersect of either:

· 5m intersect ≥ 0.75% TREO, or

· 5m intersect ≥ 1% Nb2O5, or

· 5m intersect ≥ 1% Ta2O5.

· Expiry date: 5 years from the date of issue.

NEXT STEPS

Over the coming weeks and months, New Frontier Minerals will:

· Continue field investigations to define priority drilling targets at the Cusp, Bobs, Paddington, Westminster, Old Trafford and Headingly Prospects.

· Advance regulatory approvals and evaluate quotes from drilling contractors to prepare for the maiden Reverse Circulation (RC) drilling campaign in Q3 FY25.

New Frontier remains committed to delivering value to shareholders through disciplined exploration and development of its key assets.

ENDS

This announcement was approved for release by the Board of New Frontier Minerals Limited.

REFERENCES

1. CCZ ASX Release - 6 November 2024 (High grade Nb and U assays validate Harts Range Project)

2. NFM ASX Release - 12 May 2025 (Sampling returns 10.61% TREO with 23.56% Nb2O5 and 15.67% Ta2O5at Harts Range)

3. Intertek Assay Results - 8 August 2025 (Job Code: 2375.0/2512207)

4. https://www.theaustralian.com.au/business/resources-minister-madeleine-king-flags-rare-earths-floor-price-and-national-offtake-agreements/news-story/55530151bb5276d250ea7aa11cb033d5?giftid=oIjE4YbVwc

For further information please contact

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 140km north-east from Alice Springs in the Northern Territory.

Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland and the Broken Hill Project in western New South Wales.

New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".

Competent Persons Statement

The scientific and technical information in this announcement, which relates to exploration results and the geology of the deposits described, is based on information compiled and approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the requirements of a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience relevant to Rare Earth Elements (REE), industrial mineral copper mineralisation types, as well as expertise in the quality and potential mining methods of the deposits under consideration. Additionally, he has 25 years of experience in the estimation, assessment, and evaluation of exploration results and mineral resource estimates, which are the activities for which he accepts responsibility. He also successfully completed an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM Resources and was engaged by New Frontier Minerals Limited to prepare the documentation for several prospects, specifically those within the Harts Range Prospects upon which the Report is based. Mr Biggs consents to the inclusion in this announcement of the matters based on his information and supporting documents in the form and context in which it appears.

Furthermore, the full nature of the relationship between himself and New Frontier Minerals Limited has been disclosed, including any potential conflicts of interest. Mark Biggs is a director of ROM Resources, a company that is a shareholder of New Frontier Minerals Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Minerals Limited.

The Report or excerpts referenced in this statement have been reviewed, ensuring that they are based on and accurately reflect, in both form and context, the supporting documentation relating to exploration results and any mineral resource estimates. The release of the Report and this statement has been consented to by the Directors of New Frontier Minerals Limited.

Forward Looking Statements

Certain information in this document refers to the intentions of New Frontier Minerals Ltd, but these are not intended to be forecasts, forward-looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause New Frontier Minerals Ltd's actual results, performance, or achievements to differ from those referred to in this announcement. Accordingly, New Frontier Minerals Ltd, its directors, officers, employees, and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this announcement will therefore carry an element of risk. The announcement may contain forward-looking statements that involve several risks and uncertainties. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

Accompanying appendices and JORC table is available by clicking or pasting the following link into your website browser: http://www.rns-pdf.londonstockexchange.com/rns/0710V_1-2025-8-12.pdf .