Corp Update - EG1 commences exploration at Leonora

Cadence Minerals Plc

("Cadence Minerals", "Cadence", or "the Company")

Corporate Update - EG1 commences exploration at Leonora Goldfields Project,WA

Cadence Minerals (AIM: KDNC) is pleased to note that ASX listed Evergreen Lithium ("EG1") (ASX: EG1) has announced that it is advancing exploration at its wholly-owned Leonora Goldfields Project (LGP) in Western Australia's prolific central goldfields. The Company's geology team recently conducted a multi-day site visit, completing detailed mapping across key prospects - Craig's Rest, Victor Bore, and Great Northern - to finalise targets for an upcoming drilling campaign with the aim to expand the project's 63,000oz gold resource.

The Leonora Goldfields Project (LGP), acquired by Evergreen in May 2025, is located near multimillion-ounce gold deposits including Red 5's >4Moz King of the Hills and Northern Star's Thunderbox operations. The project hosts a JORC 2012-compliant inferred resource of 63,000oz of gold across three key prospects: Craig's Rest (48,600oz), Victor Bore (11,700oz), and Great Northern (2,700oz).

Highlights:

· Evergreen's wholly-owned Leonora Goldfields Project in WA hosts a JORC 2012-compliant inferred gold resource of 63,000oz, with high-grade intercepts up to 5m at 57.9 g/t Au

· A recent site visit by Evergreen's geology team has confirmed high-grade potential, paving the way for a drilling campaign to expand and upgrade the resource

· Strategically located in WA's prolific central Goldfields, the project benefits from proximity to two large-scale gold processing plants within 40km, offering clear pathways to production

Link here to view the full EG1 ASX announcement

EG1 Chairman Simon Lill commented: "Our geology team has hit the ground running, with a successful site visit providing critical insights to formulate the inaugural drilling campaign. The Board believes there is considerable scope to create significant value for shareholders as we unlock the full potential of the Leonora Goldfields Project, leveraging its existing 63,000oz Au resource and historical high-grade drill results."

Cadence's Holding in EG1

As of the date of this announce Cadence holds approximately 5.1% of EG1's issued share capital.

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Cautionary and Forward-Looking Statements

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as "believe", "could", "should", "envisage", "estimate", "intend", "may", "plan", "will", or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the company's future growth results of operations performance, future capital, and other expenditures (including the amount, nature, and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes actions by governmental authorities, the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The company cannot assure investors that actual results will be consistent with such forward-looking statements.