RINCON RESOURCES LIMITED — Capital/Financing Update 2024

19 February 2024

WEST ARUNTA FOOTPRINT CONTINUES TO EXPAND

HIGHLIGHTS:

New Tenement Application

• § New exploration licence application (ELA) continues to expand Rincon’s presence in the West Arunta region, now exceeding 260 km[2] .

• § The new ELA abuts existing tenements and includes the historic ‘Mantati’ copper-lead-zinc occurrence[1] (refer to Figure 1), associated with the highly prospective Central Australian Suture (“ CAS ”)[2] .

• § Mantati, which has never been drill tested, was originally identified by BHP Limited via a surface sampling program which returned anomalous gold and silver results up to 7.3g/t Ag[3] , which is consistent with some of the high-grade silver results returned at the Company’s Pokali IOCG/REE[4] Prospect.

New Tenement Grant

• § Exploration licence E80/5761 located adjacent to Norwest Minerals’ (ASX: NWM) Arunta West REE Project, was recently granted.

Rincon Resources Limited ( Rincon or the Company ) is pleased to provide an update regarding its West Arunta Project in Western Australia.

Commenting on the latest news, Rincon’s Managing Director Gary Harvey said:

“I have previously stated that we continue to review and look for opportunities to improve our West Arunta Project area whether it be via application or acquisition. On this occasion, we have again been able to secure land adjacent to our existing tenements and encompassing part of the Central Australian Suture (CAS). More importantly, the new application includes the Mantati mineral occurrence where public records note the presence of anomalous copper, gold and silver, just like what we see at Pokali.

“We’re now starting to consolidate an important package of ground along the CAS, which is highly prospective for various deposit types, including IOCG, carbonatite-style REE, orogenic gold and other base metals.

“This is a good start to 2024 as we head into our diamond and RC drilling programs, scheduled to commence end of February.”

1 Refer to WA DEMIRS MINEDEX site id S0234783. 2 Refer to ASX: RCR Announcement dated 2012/2023.

3 BHP Minerals Pty Ltd, Mt Webb JV Annual Report (WA DEMIRS WAMEX report id a57866). 4 Iron Oxide Copper-Gold (IOCG) / Rare Earth Element (REE).

ASX Announcement 19 February 2024

==> picture [520 x 358] intentionally omitted <==

Figure 1 – West Arunta Project map, showing the location of the New ELA and recently granted E80/5761.

----ENDS----

Authorised by the Board of Rincon Resources Limited

For more information visit www.rinconresources.com.au or contact:

Company:

Gary Harvey Managing Director Rincon Resources Limited +61 (08) 6243 4089

David Lenigas Executive Chairman U.K.: M: +44 (0) 7881 825378 Australia: M: +61(0) 405504512 Monaco: M: +33 (0) 678633030

Page 2

ASX Announcement 19 February 2024

About Rincon

Rincon has a 100% interest in three exploration assets in Western Australia that are highly prospective for copper, gold, REE’s and other critical metals in demand for the energy transition; these are the South Telfer Project, West Arunta Project and Laverton Project.

Each asset has previously been subject to historical exploration which identified prospective mineral systems that warrant further exploration. The Company’s aim is to create value for its shareholders by advancing its assets by applying technically sound methodical and systematic exploration work programs to test, discover, and delineate economic resources.

==> picture [181 x 268] intentionally omitted <==

----- Start of picture text ----- South TelferWest AruntaLaverton----- End of picture text -----

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Gary Harvey who is a Member of The Australian Institute Geoscientists and is Managing Director of the Company. Mr Harvey has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Harvey consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Future Performance

This announcement may contain certain forward-looking statements and opinions. Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of the Company and which are subject to change without notice and could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forwardlooking statements or other forecast. Nothing contained in this announcement, nor any information made available to you is, or and shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Rincon.

Cautionary Statement Regarding Values & Forward-Looking Information

The figures, valuations, forecasts, estimates, opinions and projections contained herein involve elements of subjective judgment and analysis and assumption. Rincon does not accept any liability in relation to any such matters, or to inform the Recipient of any matter arising or coming to the company’s notice after the date of this document which may affect any matter referred to herein.

Any opinions expressed in this material are subject to change without notice, including as a result of using different assumptions and criteria. This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “expect”, and “intend” and statements than an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Rincon undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. The Recipient should not place undue reliance upon forward-looking statements. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Rincon from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material.

Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Rincon, its affiliates, directors, employees and/or agents expressly disclaim any and all liability relating or resulting from the use of all or any part of this document or any of the information contained herein.

Page 3