News & Updates

• Celsius Resources Limited Philippines subsidiary company, Makilala Mining Company, Inc., has engaged DrillCorp Mining Resources to undertake detailed Geotechnical and Hydrogeological Drilling for the updating of the Feasibility Study and the Front-End Engineering and Design (FEED).

Celsius Resources Limited (“Celsius” or “CLA”) (ASX, AIM: CLA) is pleased to announce that its Philippine subsidiary, Makilala Mining Company, Inc. (“MMCI” or the “Company”), following a competitive bidding process, has engaged DrillCorp Mining Resources and Construction Corp. (“DrillCorp”) to undertake Geotechnical and Hydrogeological Drilling for the company’s flagship Maalinao-Caigutan-Biyog Copper-Gold Project (“MCB” or the “Project”).

The geotechnical and hydrogeological drilling program, which will commence in early June, will cover approximately 2,300 meters at an estimated cost of PHP 33 million (~AUD 925k1). The program is designed to generate detailed subsurface models and data to further optimise the underground mine plan, process plant layout, and surface infrastructure design. These outcomes will directly inform the updating of the Feasibility Study and the Front-End Engineering and Design (FEED) phase.2

DrillCorp is a leading drilling contractor in Asia, renowned for delivering safe, professional, and reliable drilling and mining services. Established in 1993, it was the first professional multipurpose drilling contractor to operate in the region.

Drillcorp’s technical capabilities span diamond drilling, reverse circulation, geotechnical drilling, grade control drilling, water boring, and tunneling.

Celsius Director Peter Hume, said:

“In preparation for the FEED phase, we are undertaking geotechnical and hydrogeological drilling to gather critical data needed to develop construction-ready plans for both the surface infrastructure and underground mine.

DrillCorp has been a trusted drilling partner of MMCI throughout the exploration phases from 2006 to 2013 and again in 2022. We are pleased to continue this collaboration, as they have consistently demonstrated precision, reliability, and a strong commitment to safety and operational efficiency.”

Scope of Services

The required drilling services include the following:

1) Geotechnical Boreholes: Execution of diamond boreholes, including the modification of a pre-planned high-grade resource definition borehole (MCB-038) specifically designed to target data gaps in underground mine infrastructure major fault structures.

2) Hydrogeological Boreholes: Conformation of Hydrological Connectivity between the Pasil River Fault and the proposed underground mine, addressing uncertainties around the weathering profile below the Pasil River and confirming the presence of mapped faults.

3) Historical Borehole Re-Entry Drilling: Utilisation of existing boreholes for additional hydrogeological testing and televiewer imaging to minimise new drilling requirements while maximising data collection efficiency.

4) Standpipe Screen Installation: Deployment of multi-level standpipes inhydrogeological boreholes along the Pasil River, aimed at further detailed assessment of the hydrological characteristics of the area.

5) Support to Various Geotechnical and Hydrogeological Tests: Support the implementation of a detailed comprehensive suite of down-the-hole geotechnical and hydrogeological tests (Packer testing, Point load testing, Televiewer Borehole Imaging, Infiltration Testing, Permeability Testing) to assess rock mass conditions and orientations.

6) Surface Infrastructure Geotechnical: Undertake a targeted geotechnical drilling program across designated surface infrastructure sites—including the processing plant area, camp facilities, access roads and underground portal to characterise subsurface conditions.

Further to the announcement dated 17 March 2025 regarding the appointment of Mr. Neil Grimes as Non-Executive Director, Celsius notes the following update to the AIM Rule 17 disclosures regarding Neil’s previous Directorships: Mr Neil Grimes served as a director of 3tg Pty. Ltd. from June 2016 to December 2020.