Announcement PDF ASX ANNOUNCEMENT ASX: DAL | OTCQB: DALMF 19 May 2026 Dalaroo Secures Major Blue Lagoon Project Expansion in Greenland Dalaroo Metals Ltd (ASX: DAL; OTCQB: DALMF) (“Dalaroo” or “the Company”) is pleased to announce that the Greenland Government has formally approved exploration licences M-516 and M-517 at the Company’s Blue Lagoon Project in southern Greenland, delivering a major expansion of Dalaroo’s strategic footprint across what is rapidly emerging as a district-scale critical minerals province. The approved licences significantly expand Dalaroo’s exposure to highly prospective rare earth element (REE), zirconium (Zr), niobium (Nb) and hafnium (Hf) mineralisation and strengthen the Company’s control over interpreted source rocks, sediment transport pathways and downstream depositional environments associated with the broader Blue Lagoon mineral system. The approvals represent a significant strategic milestone for Dalaroo and further reinforce the Company’s position within the globally recognised Gardar Alkaline Province, one of the world’s most prospective regions for critical minerals associated with alkaline intrusive systems. The Blue Lagoon Project is rapidly evolving beyond an early-stage exploration project into what Dalaroo believes may represent a large-scale integrated coastal critical minerals system extending across onshore, lagoon and offshore environments. The growing scale potential significantly enhances the strategic importance of the project as global demand for secure critical mineral supply chains continues to accelerate. Highlights: • Greenland Government formally approves exploration licences M-516 and M-517 at the Blue Lagoon Project • Approval materially expands Dalaroo’s strategic landholding across a highly prospective rare earth and critical minerals corridor in southern Greenland • Expanded licences strengthen Dalaroo’s control over interpreted source rocks, sediment transport pathways and downstream depositional environments • Geological model continues to support a large-scale sediment-hosted critical minerals system prospective for REE, zirconium, niobium and hafnium • Offshore exploration programs targeting heavy mineral accumulation and hydraulic concentration are now advancing • Upcoming field program to include auger drilling, geological mapping, mineralogical studies, Van Veen grab sampling and bathymetric surveys • Blue Lagoon is rapidly emerging as a district-scale critical minerals opportunity within the globally recognised Gardar Alkaline Province For more information about the Blue Lagoon Project please follow the link: Click here 2 Figure 1. Map of Dalaroo's Blue Lagoon Project with approved exploration licences shown in yellow and exploration licence application M- 523 shown in red. Gardaq A/S licences shown in green (Critical JV company between Amaroq and GCAM3). Strategic Importance of the Licence Expansion The approval of M-516 and M-517 significantly enhances Dalaroo’s ability to systematically explore the broader Blue Lagoon mineral system across both onshore and offshore environments. Recent exploration results and geological interpretation1,2 continue to support the presence of an integrated sediment-hosted critical minerals system associated with alkaline intrusive source rocks within the Gardar Alkaline Province. The expanded licences capture key interpreted sediment transport corridors and downstream depositional environments considered highly prospective for heavy mineral concentration. These approvals also strengthen Dalaroo’s strategic position within southern Greenland, a region attracting increasing global interest as an emerging source of critical minerals essential to future supply chains and advanced technologies. Geological Model Continues to Strengthen Dalaroo’s exploration model at Blue Lagoon is based on the interpretation that weathering of alkaline intrusive source rocks releases REE, zirconium, niobium and hafnium-bearing minerals which are subsequently transported through drainage systems into lagoon and nearshore depositional environments. 3 As transport energy decreases, denser heavy minerals are interpreted to settle and accumulate within favourable sediment traps, creating potential for natural upgrading through hydraulic sorting processes. Previous exploration programs have identified strong zirconium-hafnium associations and elevated rare earth enrichment within fine sediment fractions, supporting the interpretation of zircon-dominant heavy mineral accumulation sourced from upstream alkaline intrusive rocks. The expanded licences allow Dalaroo to further test continuity of this mineral system across a significantly larger area. Previous Exploration Results Previous exploration programs at Blue Lagoon delivered encouraging geochemical results across approximately 2.7 kilometres of strike, with all 113 surface samples returning anomalous critical mineral values1. Results included: • Zirconium oxide (ZrO₂) values up to 4.42% • Hafnium values up to 99ppm • Total Rare Earth Oxides (TREO) values up to 0.81% • Strong enrichment within finer sediment fractions • Consistent zirconium-hafnium correlation supporting zircon-hosted mineralisation These results continue to support Dalaroo’s interpretation that sediment transport and depositional processes are actively concentrating heavy minerals within the Blue Lagoon system. The Company confirms that the exploration results referred to in this announcement were previously reported in accordance with ASX Listing Rule 5.7 and are referenced for contextual purposes only. Upcoming Exploration Program Dalaroo is preparing its next phase of systematic exploration designed to test the scale and continuity of the broader Blue Lagoon mineral system. The upcoming program represents the first integrated onshore and offshore exploration campaign undertaken by the Company at Blue Lagoon and is designed to rapidly advance the broader district-scale mineral system. Importantly, offshore depositional environments remain largely unexplored within the region and may represent highly favourable locations for natural hydraulic concentration and upgrading of heavy mineral assemblages. Dalaroo believes these environments have the potential to materially enhance the overall scale potential of the Blue Lagoon system. Planned onshore activities include: • Detailed geological and structural field mapping • Surface outcrop coring for petrological and mineralogical studies • Auger drilling across prospective sedimentary environments • Sediment characterisation and grain-size analysis • Mapping of interpreted sediment transport pathways 4 Planned offshore activities include: • Van Veen grab sampling of seabed sediments • Targeted nearshore geochemical sampling • Bathymetric profiling and sediment trap mapping • Evaluation of offshore depositional environments prospective for heavy mineral concentration The results of these programs are expected to materially improve Dalaroo’s understanding of the scale, continuity and mineralogical characteristics of the Blue Lagoon critical minerals system. Management Commentary Exploration Manager – Greenland and Western Australia, Trystan Hughes, commented: “The approvals now allow us to systematically evaluate the broader scale potential of the system, including highly prospective offshore environments which we believe could represent an important component of the overall mineralised footprint. A key feature that continues to stand out at Blue Lagoon is the strong geological linkage between the alkaline intrusive source rocks, sediment transport pathways and downstream depositional environments. The emerging scale of the system, combined with the growing offshore potential, provides a compelling exploration opportunity as we advance the next phase of field activities.” Dalaroo’s CEO John Morgan commented: “Securing approval for M-516 and M-517 is a major milestone for Dalaroo and materially expands our strategic position across what is rapidly emerging as a district-scale critical minerals province in Greenland. Our exploration results and geological interpretation continue to strengthen the broader source-to-sink model at Blue Lagoon and increasingly support the potential for significant heavy mineral accumulation across both onshore and offshore environments. The expanded project footprint now gives Dalaroo the ability to systematically test the full scale of the mineral system at a time when Greenland is becoming increasingly important in the global critical minerals landscape. With field programs commencing shortly, we believe Blue Lagoon is continuing to evolve into a highly significant exploration asset for the Company.” Reference: 1. Refer to ASX Announcement (DAL), “Sampling Reveals District Scale Critical Minerals – Greenland”, 16 January 2026. 2. Refer to ASX Announcement (DAL), “Dalaroo Appoints Exploration Manager and Provides Blue Lagoon Technical Update”, 20 April 2026. 3. Refer to Amaroq Corporate Presentation, January 2026. This announcement has been authorised for release to the ASX by the Company's Board of Directors. ENDS For more Information: Please visit our website for more information: Dalaroo Metals Website John Morgan Chief Executive Officer T: +61 410 774 319 E: info@dalaroometals.com.au 6 About Dalaroo Metals Dalaroo Metals Limited is an ASX-listed exploration company focused on the discovery and development of high-quality gold and critical minerals projects across Australia and international jurisdictions. The Company’s portfolio includes the Blue Lagoon Project in south-west Greenland, prospective for rare earth elements (REE), zirconium and niobium, a growing suite of gold exploration assets in Côte d’Ivoire located within the highly endowed Birimian Greenstone Belt of West Africa, and the Lyons River Project and Namban Project in Western Australia. Dalaroo’s strategy is to systematically advance its projects through modern exploration techniques, resource definition and strategic partnerships, with a strong focus on value creation for shareholders. The Company is committed to responsible exploration, strong corporate governance and building long-term stakeholder relationships in the regions in which it operates. Competent Persons Statement The information in this report that relates to exploration results is based on information compiled by John Morgan, a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and the CEO of Dalaroo Metals Ltd. Mr Morgan has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Morgan consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. Forward Looking Statements This announcement contains forward-looking statements which are based on current expectations, assumptions, estimates and projections. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These risks include, but are not limited to, exploration success, geological interpretation, commodity price fluctuations, regulatory approvals, permitting timelines, operational risks and market conditions. Any statements regarding potential mineralisation, exploration targets, grades, scale or development concepts are conceptual in nature and based on early-stage surface sampling only. These statements do not constitute, and should not be construed as, a Mineral Resource or Ore Reserve estimate as defined under the JORC Code. References to peer projects, market pricing, strategic significance or potential future development pathways are provided for contextual purposes only and should not be interpreted as a forecast of future performance or valuation. Commodity pricing information is indicative only, subject to market volatility and should not be relied upon as a projection of future prices. Investors are cautioned not to place undue reliance on forward-looking statements. Dalaroo Metals Limited undertakes no obligation to update or revise any forward-looking statements, except as required by law. The Company confirms that it is not aware of any new information or data that materially affects the information included in the referenced market announcements and that all material assumptions and technical parameters underpinning those announcements continue to apply and have not materially changed.