Caravel Minerals

Key progress as we approach DFS completion in September 2026: • Updated Ore Reserve • Mining DFS completed • Environmental Review Document substantially complete • Water demand reduced from 18GL/yr to 12GL/yr • Power significantly de-risked • Simplified process flowsheet • Non-binding MOU Adani covering life-of-mine offtake Managing Director Don Hyma: “Each of the key questions investors ask of a development project – water, power, permitting, metallurgy, mining confidence, and partners – has been advanced to a point of substantial definition. The DFS will bring this body of work together in a single, integrated study that will demonstrate a sound and executable project.” Caravel ranks among the limited number of large-scale copper concentrate projects globally that is both substantially de-risked and actively advancing toward FID. $CVV #Copper Check out the full announcement and join in with the conversation at: https://lnkd.in/gvPWfvBy

Caravel is pleased to note that Shaw and Partners Financial Services has initiated research coverage on the Caravel Copper Project today. We thank analyst Peter Kormendy and the research team at Shaw and Partners for their detailed analysis. Investors can contact a Shaw and Partners adviser for a copy of the full research note. #copper #ASX $CVV

Pleased to share that Caravel ($CVV) has released an updated Ore Reserve statement, enhancing confidence in the development case for this major Western Australian copper project. Total Ore Reserve increased to 597Mt (from 583.4Mt) at 0.24% Cu for 1.42Mt contained copper. Proved Ore Reserve tonnes up 48% to 156Mt (from 105.4Mt) at 0.25% Cu for 392kt contained copper. Probable Ore Reserve: 441Mt at 0.23% Cu for 1,026kt contained copper. This update reflects the conversion of additional Measured Resources and detailed mining studies supporting the ongoing Definitive Feasibility Study. Importantly, molybdenum, silver, gold, iron, and sulphur grades have now been reported within the Ore Reserve for the first time, and the project retains a substantial Inferred Resource for potential future growth. Located in WA’s Wheatbelt, the Caravel Copper Project continues to advance toward construction readiness. This positions Caravel well in a tightening copper market. Full details in today’s announcement and coverage here: https://lnkd.in/gc959bea

Managing Director Don Hyma recently presented at the 2026 Gold Coast Investment Showcase, providing the latest on our flagship Caravel Copper Project — Australia’s largest undeveloped copper deposit. Download or view the full presentation here: ➡️ https://lnkd.in/gk7f9iwr We continue to advance this generational copper asset to help meet growing global demand for the energy transition. $CVV #Copper #Mining

Caravel has secured additional $15M royalty funding from the Regal Resources Royalties Fund to advance the DFS for the Caravel Copper Project — one of Australia’s largest undeveloped copper assets. This brings Regal’s total exposure to the project to $30 million and extends the maturity of the original facility to March 2028, providing non-dilutive funding through to DFS completion (targeted for Q3 this year) and beyond. Read the full article here: https://lnkd.in/gcszkg2W $CVV #Copper

We're heading to the Gold Coast for the RIU Investment Showcase at the JW Marriott, 11–12 June. Come and meet the Caravel team at our booth — or catch Managing Director Don Hyma on stage Friday morning at 10:30am. Australia's largest undeveloped copper project. DFS on track for Q3 2026. We'd love to connect. $CVV #Copper #RIUShowcase

Excited to share this insightful piece from Stockhead: "Ten Bagger: Despite headwinds, copper is again proving its metal." As we head into a stronger copper market, the fundamentals for high-quality Australian copper developers like Caravel Minerals (ASX: CVV) are looking increasingly compelling. With our flagship Caravel Copper Project in WA advancing, we're well-positioned to capitalise on rising demand and tightening supply dynamics. Copper's role in the energy transition and global electrification continues to shine through — and we're focused on delivering long-term value for shareholders. 📌 Read the full article here: https://lnkd.in/gK3izeeP

We're pleased to share our Quarterly Activities Report for the period ended 31 March 2026, marking another productive quarter advancing the Caravel Copper Project toward its Definitive Feasibility Study. Key highlights: 🔑 Land Tenure Secured – Mining Lease M70/1425 granted over the Bindi resource, a significant milestone following the land purchase option executed in December 2025. 💰 Export Credit Agency Financing – Non-binding Letters of Interest received from Finnvera and KfW IPEX for up to USD 220 million in senior debt — a strong signal of international institutional confidence in the Project. ⚙️ DFS Advancing – Process plant, mine, tailings and infrastructure designs nearing completion, with the DFS scheduled for delivery in September 2026. 🌿 Environmental Progress – Environmental Review Document nearing finalisation, with public comment period scheduled for Q3 2026. Baseline monitoring now underway across the project area. 🌱 Community & Environment – In partnership with Wheatbelt NRM, Aboriginal ranger teams and local landowners, we completed a major native seed collection program across the project area — part of our long-term revegetation and offset strategy. The Caravel Copper Project remains well-positioned to supply the growing global demand for copper as the energy transition accelerates. 📄 Full report available at https://lnkd.in/gPiWVyiz #Copper #CriticalMinerals $CVV #WesternAustralia

Global copper supply shortage looms as demand grows from electrification, renewables, EVs and AI. Stockhead reports on ASX copper developers advancing projects to meet the gap featuring Caravel Minerals. Our Caravel Copper Project, 150 km northeast of Perth, holds ore reserves of 583 Mt at 0.24% Cu (1.42 Mt contained copper). We target a long-life open-pit operation with DFS completion scheduled for September 2026. Read the article: https://lnkd.in/giqJU9xS #Copper $CVV

Thank you to Kevin Bowman and the Australian Shareholders Association (ASA) for organising last Thursday’s presentation in Perth. It was a pleasure for Alasdair to present to ASA members and Caravel appreciates the opportunity to engage directly with your members. The full presentation is available on our website: https://lnkd.in/gp9REShX $CVV #Copper