Key Quantitative Figures

  • Preliminary modelling suggests the deposit contains over 4 million tonnes (4Mt) of potentially economic ore
  • Average grade of approximately 0.24% Ni-equivalent (weighted sum of Ni, Cu, Pt, and Pd grades)
  • Sums to more than 10,000 tonnes of nickel-equivalent metal
  • Current estimate covers only 25% (300-350m) of the identified 1.3km mineralized corridor

Exploration Program Details

  • 15 diamond core drill holes completed totaling 2,773 meters of drilling
  • Exploration program conducted over 30 sq. km Bhalukona Nickel Block
  • Work included: drone magnetic and LiDAR survey, deep IP, 2D electrical resistivity tomography (ERT), 1:5,000 and 1:2,000 geological mapping, rock-chip and channel geochemistry, bulk sampling for beneficiation studies

Deposit Characteristics

  • Layered mafic-ultramafic intrusion hosting Ni-Cu-PGE sulphide mineralisation
  • Mineralization ranges from disseminated sulphides to heavy/massive sulphide lenses
  • 100+ meter wide corridor along approximately 1.3 km long zone to depths of over 200 meters
  • Sulphide minerals predominantly pyrrhotite (Ni), pentlandite (Ni), and chalcopyrite (Cu)

Drill Results Summary

Detailed mineralized zones intersected in drill holes BJD-01 to BJD-11:

| Hole | From (m) | To (m) | Length (m) | Ni (%) | Cu (%) | Pd (g/t) | Pt (g/t) | Ni_Eq (%) |

| BJD-01 | 42.0 | 57.6 | 15.65 | 0.143 | 0.126 | 0.26 | 0.04 | 0.30 |

| BJD-01 | 59.5 | 66.5 | 7.00 | 0.134 | 0.074 | 0.26 | 0.01 | 0.25 |

| BJD-01 | 80.5 | 86.5 | 6.00 | 0.093 | 0.022 | 0.15 | 0.02 | 0.15 |

| BJD-01 | 100.7 | 130.5 | 29.80 | 0.180 | 0.084 | 0.08 | 0.02 | 0.26 |

| BJD-02 | 32.0 | 47.0 | 15.00 | 0.147 | 0.103 | 0.33 | 0.06 | 0.31 |

| BJD-02 | 47.0 | 57.4 | 10.40 | 0.105 | 0.084 | 0.15 | 0.02 | 0.20 |

| BJD-02 | 97.8 | 136.5 | 38.70 | 0.091 | 0.039 | 0.18 | 0.02 | 0.17 |

| BJD-03 | 215.0 | 269.0 | 54.00 | 0.100 | 0.067 | 0.20 | 0.05 | 0.21 |

| BJD-04 | 29.0 | 35.0 | 6.00 | 0.163 | 0.200 | 0.23 | 0.04 | 0.36 |

| BJD-04 | 43.0 | 45.0 | 2.00 | 0.106 | 0.135 | 0.13 | 0.02 | 0.23 |

| BJD-05 | 12.0 | 32.0 | 20.00 | 0.107 | 0.110 | 0.24 | 0.04 | 0.25 |

| BJD-07 | 55.0 | 63.9 | 8.90 | 0.064 | 0.030 | 0.11 | 0.02 | 0.12 |

| BJD-07 | 68.0 | 76.0 | 8.00 | 0.097 | 0.122 | 0.10 | 0.03 | 0.21 |

| BJD-09 | 5.0 | 39.2 | 34.20 | 0.165 | 0.081 | 0.24 | 0.10 | 0.31 |

| BJD-09 | 44.0 | 50.0 | 6.00 | 0.134 | 0.034 | 0.28 | 0.09 | 0.25 |

| BJD-10 | 168.5 | 175.0 | 6.50 | 0.141 | 0.151 | 0.15 | 0.02 | 0.28 |

| BJD-11 | 39.0 | 43.0 | 4.00 | 0.119 | 0.099 | 0.42 | 0.23 | 0.36 |

| BJD-11 | 109.0 | 114.0 | 5.00 | 0.138 | 0.083 | 0.23 | 0.03 | 0.26 |

License and Location Details

  • Bhalukona-Jamnidih Composite Licence (CL-51) executed by Government of Chhattisgarh on 01 April 2025
  • Location: Basana Tehsil, Mahasamund District, Chhattisgarh State
  • Area: 30 sq. km
  • Accessibility: Readily accessed via local roads and forestry tracks
  • Forestry approvals acquired for non-destructive exploration activities including drilling

Important Qualifications

  • Figures are preliminary exploration-stage interpretations
  • Do not constitute a defined mineral resource or reserve
  • Modelling does not include potential repetitions of the sequence to the SE as suggested by drone magnetic and IP surveys
  • Financial impact not quantified in the disclosure

Management Commentary

Dr Hanuma Prasad Modali, Managing Director, commented: "India's critical-minerals ambitions will ultimately be determined not just by the resources we know we possess, but by our ability to discover, evaluate and responsibly develop them. Bhalukona is an encouraging milestone in our effort to unlock India's domestic critical-mineral potential."

Company Background

Deccan Gold Mines Ltd is the first and only gold and critical mineral resource company listed on BSE. Established in 2003, holds strategic portfolio of gold and critical mineral assets across India and internationally including projects in Andhra Pradesh, Kyrgyzstan, Chhattisgarh, Spain, Mozambique, Finland, and Tanzania.