Exploration drilling is being undertaken at Bramaderos to test the Limon gold-copper deep porphyry target and further understand the potential extent of the porphyry mineralisation within the Bramaderos Project. Following completion of the Placement in July 2026, we are planning a series of holes at El Palmar to test the deep gold-copper porphyry targets. Rigs are currently being mobilised, and we expect to start seeing assay results towards the end of 2026. This is an important and exciting drill program for the company, as it begins testing the very large, high-conviction exploration deep targets at El Palmar, a project on the same Toachi fault system that hosts the giant Casbabel and Llurimagua copper projects. With funding secured to conduct the drilling programs at Bramaderos and El Palmar during the 2027 financial year, the Board continues to review options to advance our exploration opportunities, increase the mineral resources, and fund the ultimate development of these two globally significant projects. Recent transactions in Ecuador, including Jiangxi Copper’s acquisition of SolGold, which owns the Cascabel projects just to the north of El Palmar, show strong interest in quality projects with genuine scale and continued exploration upside. Company Highlights 33% upgrade to Bramaderos Mineral Resource estimate to 3.60 Moz gold equivalent Porotillo and Copete discoveries adjacent to the current Brama-Alba-Melonal resource at Bramaderos Release of Bramaderos Scoping Study Secured funding to test deep gold-copper porphyry targets at both Bramaderos and El Palmar We will, of course, continue to assess this strategy and we remain open to opportunities. With a cash balance of $10.9 million at the end of the year (including the $9.3M received from the Placement announced on 29 June), the Company is in a healthy position to fund continued drilling to expand our current mineral resources and test the large exploration targets at El Palmar and Bramaders. On behalf of the Board, I would like to thank our shareholders for their support during the past year. I also extend a special thank you to those who exercised their options ahead of the expiry date. This helped fortify our financial position while we advance our projects. Yours sincerely Malcolm Norris Non-executive Chair Sunstone Metals Limited 3 Sunstone Metals Limited Annual Report 2026
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