Inflection Resources – Drilling Ongoing at Trangie Project in New South Wales, Australia
News Release
CSE: AUCU | OTCQB: AUCUF
Inflection Resources – Drilling Ongoing at Trangie
Project in New South Wales, Australia
Vancouver, British Columbia, May 13, 2026: Inflection Resources Ltd. (CSE: AUCU / OTCQB:
AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to provide an update on the ongoing
drilling in New South Wales, Australia under the Exploration Agreement with AngloGold Ashanti
Australia Limited (“AngloGold Ashanti”) announced on June 14, 2023 and March 25, 2025.
Summary Highlights
• Air Core drilling is ongoing on the Trangie project as part of the Exploration Agreement
with AngloGold Ashanti as announced on January 19, 2026;
• Thirty-seven drill holes totalling 7,130 m have been completed on the Trangie project as
part of the current program to follow -up on porphyry gold -copper mineralisation
intercepted in earlier drilling;
• Assays have not yet been received from the laboratory, although internal studies using
portable pXRF analytical methods are highlighting existing areas of known mineralisation
and several previously unknown areas of interest; and,
• The Company has received notice from AngloGold Ashanti that it will withdraw Duck
Creek and Crooked Creek as Designated Projects under the Earn -in Agreement .
Inflection retains 100% ownership in both projects. Going forward, AngloGold Ashanti
will focus exploration on two Designated Projects: Trangie and Nyngan.
Alistair Waddell, Inflection’s President and CEO, states: “We are very pleased with the progress of
the ongoing Air Core drilling program at Trangie which represents an important next step in
advancing this highly prospective area. Air Core drilling is proving to be a highly effective and cost-
efficient method for systematically testing the broader target area, improving our geological
understanding and identifying new zones that may warrant deeper drilling. The program is
progressing well and, while assays remain pending, the preliminary field observations and pXRF
work are encouraging. We look forward to integrating these results with the broader Trangie dataset
as we continue to refine targets within this compelling gold-copper porphyry district.”
Trangie Project - Phase II Drilling Update:
Approximately 83 Air Core drill holes (Figure 1) are in the process of being drilled on the Trangie
project, broadly focused on area s in the vicinity of hole TRNDH023 which returned 54.37 metres
grading 0.37 g/t gold and the zone around hole TRNDH032 where high -grade gold and elevated
copper values were intersected, returning 3 metres grading 7.72 g/t gold.
Following the identification of multiple areas of interest in the broader Trangie project using mud
rotary drilling with diamond core tails, the decision was made to complete grid drilling over an area
of approximately 15 km² on approximately 250 metre centres with Air Core drilling, with the objective
of infilling areas where the Company has limited or no data.
INFLECTION RESOURCES LTD.
CSE: AUCU | OTCQB: AUCUF 2
This first-pass Air Core drilling dataset is proving to be highly effective for mapping discrete zones
of alteration and mineralisation across the district with several areas of previously unknown
mineralisation being identified by hand-held pXRF analysis. Although the Company uses the pXRF
only as a tool to quickly vector the planning of drill holes, the preliminary results are considered highly
encouraging while assay results are pending from the laboratory.
Air Core drilling is a fast and cost-effective technique for collecting lithological and geochemical data
from the prospective Ordovician basement sequence, and is providing valuable vectors for deeper
drilling. Air Core drilling uses compressed air instead of drilling fluids to remove rock cuttings from
the drill hole (Figure 2). The drill bit fractures the rock into small chips and chunks, which are then
blown back up through the hollow drill rods to surface by high-pressure air. This creates a continuous
stream of bedrock material that geologists collect and analy se, allowing the Company to map
lithology, mineralisation and alteration. These results help determine where more detailed and
expensive, deeper drilling is warranted.
Inflection will draw on its in-depth technical expertise from other gold-copper systems in New South
Wales and elsewhere to analyse and interpret the data collected from this program.
Figure 1: Trangie Project drill hole location map showing previously drilled Inflection mud-rotary/diamond holes
(white), including TRNDH023 and TRNDH032 and completed Air Core holes (Black) and pending Air Core
holes (yellow) on an aeromagnetic base map (RTP-1VD).
INFLECTION RESOURCES LTD.
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Figure 2: Trangie Air Core drilling being completed by contractor Wallis Drilling.
AngloGold Ashanti Earn-in Agreement Update:
AngloGold Ashanti has notified the Company that it intends to withdraw Duck Creek and Crooked
Creek as Designated Projects under the Earn-in Agreement. Going forward, AngloGold Ashanti will
focus on two Designated Projects: Trangie and Nyngan.
AngloGold Ashanti will retain no interest in the Duck Creek and Crooked Creek projects which are
100% owned by Inflection. The terms of the ongoing AngloGold Ashanti Earn-in Agreement for the
Trangie and Nyngan Designated Projects are as follows:
Phase II:
AngloGold Ashanti can earn an initial 51% interest in the Trangie and Nyngan Designated Projects
by sole funding expenditures of AUD$7,000,000 on each project within 36 months. If AngloGold
Ashanti does not elect to complete the Phase II earn-in expenditure for a given Designated Project,
Inflection will retain 100% ownership of the project with no interest earned by AngloGold Ashanti.
Phase III:
Upon completion of Phase II, AngloGold Ashanti may elect to earn an additional 14% interest in each
Designated Project (for a total 65% interest ) by sole funding additional expenditures of
AUD$20,000,000 on each Designated Project within 24 months. If AngloGold Ashanti initiates but
does not complete Phase III, its ownership interest in the Designated Project will revert to 49%, which
Inflection retains the right to purchase at a mutually agreed price or for fair value if a price cannot be
mutually agreed within a specified period.
INFLECTION RESOURCES LTD.
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Phase IV:
Upon completion of Phase III, AngloGold Ashanti retains the right to earn a further 10% interest in
each Designated Project (bringing its potential ownership interest to 75% ) by completing the
following:
• Delivering to Inflection a Pre -Feasibility Study in accordance with the CIM Definition Standards
on Mineral Resources and Ore Reserves , based on a minimum of 2,000,000 ounces of gold or
gold-copper equivalent Measured and Indicated resources within 36 months after AngloGold
Ashanti provides notice to move to Phase IV; and
• Granting to Inflection a 2% net smelter return (“NSR”) royalty on the applicable Designated
Project; provided, however, that if the Designated Project has any existing underlying royalties,
Inflection will be granted a 1% NSR royalty. AngloGold Ashanti will have the right to buy back
0.5% of any 2% NSR royalty and 0.25% of any 1% NSR royalty for all or a portion of the respective
Designated Project for fair value at any time.
About Inflection’s NSW Projects:
The Company is systematically exploring for large copper -gold and gold deposits in the northern
interpreted extension of the Macquarie Arc, part of the Lachlan Fold Belt in New South Wales. The
Macquarie Arc is Australia’s premier porphyry copper -gold pro vince hosting Newmont Mining’s
Cadia deposits, Evolution Mining’s Northparkes and Cowal deposits plus numerous exploration
prospects, including Boda, a discovery made by Alkane Resources.
Semi-Annual Reporting:
The Company has elected to rely on Coordinated Blanket Order 51 -933 and move to semi -annual
financial reporting (“SAR”). The decision to transition to SAR will enable the Company to focus on
core exploration activities while reducing certain overhead costs , including professional fees and
regulatory filing expenses.
Coordinated Blanket Order 51-933 allows eligible venture issuers listed on the Canadian Securities
Exchange to voluntarily move from a quarterly to a semi-annual financial reporting framework. The
Company’s fiscal year ends on September 30. Under the SAR pilot program, the Company will be
exempt from filing interim financial reports and related Management’s Discussion & Analysis for its
first and third quarters.
• Interim Period: The Company will not file an interim report for the first quarter (Q1) ending
December 31 or the third quarter (Q3) ending June 30;
• Ongoing Reporting: The Company will continue to file audited financial statements (due
within 120 days of September 30) and six-month interim financial reports (due within 60 days
of March 31).
The Company confirms it meets the pilot program’s eligibility criteria, which include being a venture
issuer with annual revenues of less than $10 million and maintaining a clean 12 -month continuous
disclosure record. The Company remains committed to timely disclosure and transparency via press
releases, material change reports and all other regulatory and securities exchange requirements, to
ensure that investors remain informed between reporting periods. SAR will not impact the
Company's obligations to provide timely and comprehensive disclosure of any material events.
INFLECTION RESOURCES LTD.
CSE: AUCU | OTCQB: AUCUF 5
Qualified Person and Sampling Quality Control:
The scientific and technical information contained in this news release has been reviewed and
approved by Mr. Carl Swensson (FAusIMM), a “Qualified Person” (“QP”) as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Swensson is not independent,
as he is a director of the Company’s subsidiary and a shareholder of the Company.
Drilling was conducted using a truck -mounted Air Core drill rig. Samples are logged at the
Company’s field office, photographed and marked before being cut to the Company’s specified
sample intervals. Half samples are placed in bags with internationally certified blanks and standards
inserted. Samples are dispatched to ALS Laboratories in Orange, an accredited analytical laboratory
meeting ISO/IEC 17025:2005 and ISO 9001:2015. ALS prepares samples by crushing and grinding
via methods CRU-31 and PUL-32a respectively. The pulps are then assayed for 64 elements via
method ME-MS61r using a 25 g sample after a four -acid near-total digest with an ICP -MS finish.
Gold, platinum and palladium will be assayed by fire assay using method PGM-ICP23 using a 30 g
sample charge and an ICP -MS finish. Laboratory standards and QA/QC are monitored by the
Company using Oreas Certified Reference Materials. Coarse rejects are subjected to short-wave
near-infrared spectral analysis which provides detailed confirmation of the h ydrothermal alteration
present and is imperative for vectoring towards a mineralised porphyry system.
About Inflection Resources Ltd.
Inflection is a gold-copper focused mineral exploration company listed on the Canadian Securities
Exchange under the symbol “AUCU”, on the OTCQB under the symbol “AUCUF” and on the
Frankfurt Stock Exchange under the symbol “5 VJ”, with projects in New South Wales and the
Northern Territory, Australia. For more information, please visit the Company website at
www.inflectionresources.com.
NewQuest Capital Group
Inflection is part of the NewQuest Capital Group , an entrepreneurial, discovery-driven investment
group that builds value through the incubation and financing of early -stage mineral exploration
projects globally. Further information about NewQuest can be found at www.nqcapitalgroup.com.
On behalf of the Board of Directors:
Alistair Waddell
President and CEO
For further information, please contact:
Brennan Zerb
VP Investor Relations
+1 (778) 867-5016
FORWARD-LOOKING STATEMENTS
This news release includes certain forward -looking statements and forward -looking information (collectively, "forward -
looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements
of historical fact, included herein including, without limitation, statements regarding future exploration expenditures by
AngloGold Ashanti, amount of drilling, commencement and cost of exploration programs in respect of the Company's
projects and mineral properties, AngloGold Ashanti’s anticipated funding of the Phase II Exploration Expenditures and
timing thereof, and the anticipated business plans and timing of future activities of the Company, are forward -looking
statements. Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as
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"pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates",
"believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain
actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Com pany to differ materially from any future results, performance or achievements expressed or
implied by the forward -looking statements. Such risks and other factors include, among others, statements as to the
anticipated business plans and timing of future activities of the Company, including the Company's exploration plans. the
proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its
business activities and plans, delays in obtaining governmen tal and regulatory approvals (including of the Canadian
Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the
Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as
well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated June 12, 2020 and
other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's
profile on the SEDAR+ website at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward -
looking statements. The Company undertakes no obligation to update any of the forward -looking statements, except as
otherwise required by law.