Quarterly Report and Appendix 5B for 30 September 2025

Hillgrove Resources Limited has achieved key milestones in the latest quarter ending September 2025.

• The Nugent Production Centre is operational, with significant underground development completed and a notable increase in copper production.

• Drilling at the Emily Star and Nugent sites has yielded positive results, with high-grade copper-gold mineralization intersected.

• A capital raising of $28 million was completed to support ongoing development and working capital needs. CEO Bob Fulker highlighted the company's progress, emphasizing the completion of the Nugent Acceleration Project ahead of schedule. The successful placement received strong support from institutional investors and will fund continued development at Nugent and Emily Star. Hillgrove was named a finalist for an award in the 'Environment' category, recognizing their commitment to positive environmental outcomes. Operations at the Kanmantoo Copper Mine continue to show improvements in production and cost metrics, with a focus on safety and compliance. Investors are encouraged to review the detailed performance metrics and financials provided in the report.