Positive Gold Results at Crofton & £1.85m Placing

22 January 2026

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

Positive Gold Results at Crofton & £1.85m Placing

Cloudbreak Discovery Plc (LSE: CDL), a London Stock Exchange Main Market listed company, is pleased to announce that gold assay results up to 162 grams per tonne of gold (g/t Au), equivalent to 5.22 oz/t Au have been received from the maiden site visit to the Crofton Gold Project ("Crofton"). Crofton is located 120 kilometres east-southeast of the famous Australian gold mining centre of Marble Bar and 75km northeast of the mining centre town of Nullagine, in the Pilbara region of Western Australia (Figure 2). Multi-element results are still being processed at the assay laboratory and are anticipated to be received in the coming weeks.

Highlights

15 samples over 1g/t Au support previous work and include:

Previous samples from Crofton included:

The purpose of the recent 3-day helicopter-supported Crofton site visit was to review areas where previous gold results up to 253 g/t gold and 215 g/t silver had been recovered (As announced on 9 October 2025). This site trip by Cloudbreak's geologists has supported previous work, expanded gold mineralisation and confirmed previous outstanding assay results.

Tom Evans, Cloudbreak's Managing Director, commented: "It is fantastic to see these outstanding results from the maiden site trip to Crofton in Western Australia, with gold assays up to 162.35 g/t. Extra grades for the silver and multi-element assays are still in process and we anticipate that these can be reported in the coming weeks. Company geologists observed the presence of substantial quartz veins outcropping at surface over hundreds of metres of strike and tens of metres wide in the areas chipped sampled, adds to the prospectivity of this very exciting project. Crofton is an incredibly exciting gold project in Western Australia for us and will be a real focus for us in 2026 as we grow our portfolio of gold assets in the area in a period of record gold prices and resurgent silver prices. Following on from our RNS dated 21 January, where we paid final consideration for ownership of our Darlot West gold assets and Crofton, I'm also very pleased to announce that existing institutional shareholders have today participated in an important £1.85m placing designed to strengthen our balance sheet for an active gold exploration push this year. This cash amount is equivalent to Australian $3.7m, which gives the Company of lot of exploration dollars on the ground in Australia and sees us well funded for the future.

Sampling Results

Crofton hosts an approximately 20km2 area of laterally extensive quartz veining hosted within the Yilgalong granite. Quartz veins are commonly 10's of metres wide and can be seen to extend along strike for 100's to 1,000's of metres. A total of 54 samples were taken around locations of previously reported gold results and along strike.

Initial work was focused on sampling areas of historically reported gold mineralisation where grades of up to 253 g/t Au have been historically reported. Gold grades > 1 g/t and up to 162.35 g/t have now been confirmed over a 1km x 4km area (Figure 1). This, paired with historical >25 ppb Au soil anomalism, indicates that the Crofton project warrants immediate follow-up in the form of systematic surface geochemical sampling programs (Figure 1), and has the potential to host economic quantities of vein-hosted Au mineralisation.

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  Figure 1: Rock chip sampling results and proposed soil sampling areas.

About the Crofton Gold Project

Crofton hosts a large area of hydrothermal alteration within the Yilgalong Granitoid associated with a suite of prominent quartz veins. Historical exploration has been limited to surface sampling programs of stream sediment, soil and rock chip sampling.

The company will hold a 100% interest in the Crofton property, which consists of one exploration licence application E45/6690 covering 57km². The Crofton licence covers much of the Boodalyerrie Mining Centre, which has recorded production from 1901 to 1910 of 588.4 ounces gold from 122 tonnes of ore at a reconciled average grade of 150g/t gold.

Future Plans and Assay Results Update:

Samples were submitted to ALS Perth, with further multi-element results including silver expected in the coming weeks. Planning for regional soil sampling - including orientation surveys - is underway and works are planned to start after the Australian summer concludes in March/April 2026. This will be completed alongside separate geological mapping and rock chip sampling work programs. The results of these systematic programs will be used to generate target areas which will be ranked and prioritised for drill-testing.

Details of the £1,850,000 placing:

The Company has raised gross proceeds of £1,850,000 ("Placing Funds") via a placing of 330,357,145 new ordinary shares ("Placing Shares") at a placing price of 0.56 pence per share ("Placing Price"), from existing institutional investors. The Company will also be issuing 330,357,145 warrants on the publication of an FCA approved prospectus, exercisable at a 50% premium to the Placing Price of 0.56 and have a three-year term. The funds raised will be used for to accelerate the enhancement of the Company's asset portfolio and for general working capital. 

Application is being made for the Placing Shares to be admitted to trading on the Main Market of the London Stock Exchange, which is expected to be on or around 29 January 2026. These shares will rank pari passu with the existing ordinary shares of the Company.

Total Voting Rights Statement:

Following the issue of the Placing Shares, the Company's issued Ordinary Share capital shall consist of 1,851,047,904 Ordinary Shares. The figure of 1,851,047,904 will represent the total voting rights in the Company and should be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance & Transparency Rules.

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About Cloudbreak Discovery PLC

Competent Persons Statement

The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to Cloudbreak Discovery Plc and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.

Table 1: Gold Assay results utilising Photon Assay, an industry wide and standard assay technique for gold only

Figure 2: Location of the Crofton Gold project to towns in the district, gold processing plants and gold mines.