Kanowna East Gold Project - Accelerate Resources Limited

The Kanowna East Gold Project is a highly prospective gold exploration asset located 25 kilometres northeast of Kalgoorlie, within one of Australia’s most productive gold districts (Figure 1). The project is strategically positioned just 9 kilometres from the +6 million ounce Kanowna Belle Gold Mine, and within close proximity to the KCGM Super Pit, providing direct access to established infrastructure, skilled workforce and multiple toll treatment processing facilities.

Figure 1: Accelerate Resources Kalgoorlie Area Gold Projects Location Map

Strategic Location & Development Advantage

The project lies within a well-established mining corridor with more than 10 operating gold processing plants within a 75-kilometre radius, supporting potential low-capital development pathways should an economic discovery be made. This strategic location enables Accelerate to focus on discovery-driven exploration with the potential for rapid advancement through toll-treatment scenarios, consistent with the Company’s broader Kalgoorlie-focused gold strategy

Geology & Mineralisation

Kanowna East is located within the Eastern Goldfields Superterrane of the Yilgarn Craton, a globally significant Archaean gold province. The project area is largely covered by transported aeolian sands and clays, with minimal outcrop, concealing a prospective bedrock sequence of ultramafic, mafic and felsic volcanic rocks and intrusive units.

The project is transected by the Mt Monger Fault, a major crustal-scale structure recognised as an important control on gold mineralisation throughout the Kalgoorlie region. Recent geological reinterpretation, supported by gravity and geophysical datasets, has identified a network of north-east trending shear zones linking the Reidy and Mt Monger Faults, creating structurally favourable settings for gold deposition beneath cover.

Paleochannel & Basement Gold Potential

Previous exploration at Kanowna East has identified significant paleochannel-hosted gold mineralisation at the Western Tiger and Little Lake prospects, with several high-grade intercepts returned from shallow drilling, including:

4m @ 17.7 g/t Au from 75m in KERC012
8m @ 4.5 g/t Au from 75m in KEAC373
3m @ 7.1 g/t Au from 55m in KEAC180
6m @ 3.4 g/t Au from 24m in KEAC186
5m @ 4.8 g/t Au from 65m in KEAC265

In addition to the palaeosurface mineralisation, limited deeper drilling has also intersected basement-hosted gold, including 5m @ 0.52 g/t Au from 100m in KERC010, supporting the interpretation that the paleochannel gold is sourced from an underlying primary bedrock mineralised system.

These results highlight the potential for a significant undercover gold system, analogous to major discoveries such as the +3 million ounce Garden Well Deposit, where gold-bearing paleochannels masked a high-grade basement source prior to discovery.

Modern Exploration & Target Generation

Accelerate has undertaken a comprehensive reinterpretation of historical drilling, geochemistry and geophysics, complemented by newly processed gravity data. This work has generated a pipeline of high-impact gold targets, including:

Extensions to the 600-metre-long Western Tiger paleochannel
Potential bedrock source zones beneath high-grade paleochannel gold
Regional scale structural targets at Little Lake, Perkolilli, Dingo Dam and Dingo Dam South

Gravity data has been particularly effective in refining targets, with gold intercepts at Little Lake showing a strong spatial relationship with the intersection of NE-trending shears and NW-trending fault structures, reinforcing confidence in Accelerate’s evolving geological model (Figure 2).

Figure 2: Kanowna East Gravity Image – Total Horizontal Derivative Bouger (linear colour stretch) with structural interpretation overlay.

Drilling & Exploration Strategy

Accelerate has successfully completed its maiden RC drill program at the Kanowna East Gold Project, delivering encouraging results that validate the Company’s exploration model and highlight the scale potential of the system under cover. The initial 10-hole, RC program (Figure 3) targeted priority undercover positions at the Little Lake and Western Tiger prospects, intersecting gold mineralisation within brecciated intrusive rocks and palaeochannel horizons, as well as a laterally extensive sulphide-rich zone interpreted to represent a favourable redox trap for gold deposition.

Figure 3: Kanowna East drill hole location and summary geology map

At Little Lake, drilling intersected gold associated with a brecciated intermediate intrusive unit in drill hole 25KERC003, including 11m @ 1.05 g/t Au from 72m, with higher-grade internal intervals (Figure 4). This result confirms the presence of a structurally controlled gold system beneath transported cover. Visible gold was also identified within palaeogravel horizons in 25KERC003, reinforcing the interpretation that palaeochannel gold is sourced from an underlying basement mineralised system.

Figure 4: Little Lake interpreted mineralised intrusion displaying gold intercepts from drill hole 25KERC003

At Western Tiger, drilling intersected a strongly anomalous sulphide horizon in drill holes 25KERC008 and 25KERC009, with elevated arsenic and sulphide development interpreted to extend for more than 3 kilometres of strike (Figure 5), defining a large and compelling follow-up target for gold mineralisation.

Figure 5: Western Tiger section showing silica sulphide zone along dacite and felsic porphyry contact.

Building on this early success, future drilling programs will focus on systematically advancing both the palaeochannel and basement gold potential across the project. Follow-up RC drilling is planned to expand and define the brecciated intrusive unit at Little Lake, test the continuity and orientation of mineralisation, and further assess structural controls on gold deposition. At Western Tiger, drilling will target structural intersections along the sulphide horizon to evaluate its capacity to host significant gold mineralisation.

Aircore drilling will play a key role in evaluating regional targets across the broader Kanowna East Project. Planned aircore programs will expand and infill known palaeochannel gold mineralisation, while also testing multiple regional geochemical and structural targets at Perkolilli, Dingo Dam and Dingo Dam South. This staged, cost-effective approach is designed to rapidly assess scale potential across a large, underexplored landholding while prioritising high-impact targets for follow-up drilling.

Accelerate’s disciplined exploration strategy is focused on leveraging early drilling success, refining geological models and advancing Kanowna East toward a potential significant undercover gold discovery in one of Australia’s premier gold districts.

Investment Rationale

The Kanowna East Gold Project offers a compelling combination of:

Prime location near Kalgoorlie and major gold mines
Access to multiple toll treatment facilities
High-grade historical drilling results
Strong geological analogues to major undercover gold deposits
Modern exploration just commencing across a large, underexplored footprint

Accelerate believes Kanowna East has the potential to deliver a significant new gold discovery within one of Australia’s most prolific and well-serviced mining districts.