New Frontier Minerals Advances its Australian Copper Project with its Partner Austral Resources

Preliminary Metallurgical Test Work Shows Strong Copper Recoveries of 83-99% with Samples Exceeding 95% Recovery

PERTH, Australia, May 18, 2026 /PRNewswire/ -- New Frontier Minerals Limited (ASX: NFM | LSE: NFM | OTCQB: NFMXF) announced that following a joint field visit to its NWQ Copper Project in Australia, with its strategic partner, Austral Resources, the two companies are expected to continue evaluation of potential near-term development pathways.

The NWQ Copper Project includes the Big One Deposit, which hosts a JORC 2012 Inferred Mineral Resource Estimate of 2.1 Mt at 1.1% Cu for 21,886 tons of contained copper metal as well as the historical Mt. Storm prospect.

"The current copper market continues to be exceptionally strong due to a variety of factors, and we believe there is significant value in our partnership with Austral Resources as we advance the NWQ Copper Project," said Gerrard Hall, chairman of New Frontier Minerals. He noted that in particular, the Big One Deposit benefits from established regional infrastructure and significant land position within one of Australia's premier and proven copper districts.

The recent joint visit to the site was conducted with the geological team from Austral Resources, with the objectives of assessing both the Big One Deposit and the Big One North anomaly in the context of broader exploration potential. In addition, the team from Austral also conducted a reconnaissance assessment of the historical Mt Storm prospect within the broader Copper Project tenure. Historically small-scale mining at Mt Storm was reported to have produced approximately 1,100 tons of ore at copper grade of 6% Cu. More detailed information can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03090763-6A1325775&v=undefined.

New Frontier Minerals and Austral Resources have executed an MOU that sets the foundation for a strategic alliance combining NFM's exploration expertise across the NWQ Copper Project with Austral's advanced copper processing facilities at Mt Kelly. The arrangement calls for a toll treatment pathway under which, subject to definitive agreements and ongoing exploration success, future ore supplied from New Frontier's tenements could be processed at Mt Kelly to provide Austral with additional sources of high-grade copper ore feedstock and New Frontier with a defined route to monetize their exploration success without the capital outlay of stand-along processing infrastructure.

New Frontier Minerals is an Australian-based explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as economic mining operations. Through the application of disciplined and structured exploration. In addition to it's the NWQ Copper asset activities, the company is also advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project, also in the Northern Territory of Australia, as well as an option on a rare earths project in Quebec, Canada.

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SOURCE New Frontier Minerals