Vancouver, British Columbia, March 25, 2025 – Inflection Resources Ltd. (CSE: AUCU / OTCQB: AUCUF / FSE: 5VJ) (the "Company" or "Inflection") is pleased to announce that AngloGold Ashanti Australia Limited (“AngloGold Ashanti”) (NYSE: AU / JSE: ANG) has completed Phase I of the Exploration Earn-in Agreement (the “Earn-In Agreement”) announced on June 14, 2023 by investing AUD$10,000,000 in the Company’s portfolio of copper-gold projects in New South Wales, Australia.  AngloGold Ashanti has designated a total of four copper-gold projects to proceed to Phase II of the Earn-In Agreement.

Summary Highlights:

• AngloGold Ashanti has completed Phase I of the Exploration Earn-in Agreement and has elected to designate four projects to advance to Phase II.  The four Designated Projects are Duck Creek, Trangie, Crooked Creek and Nyngan (Figure 1).   Duck Creek was previously announced as a Phase II project on May 2, 2024  

• Under Phase II, AngloGold Ashanti may earn a 51% interest in each of the four Designated Projects by funding exploration expenditures of AUD$7,000,000 on each Designated Project over three years;  

• Under Phase III, AngloGold Ashanti may earn a 65% interest in each Designated Project by sole funding exploration expenditures of an additional AUD$20,000,000 on each Designated Project over two years;  

• Under Phase IV, AngloGold Ashanti may earn an additional 10% interest in each Designated Project by:  

  • Completing a Pre-Feasibility Study solely funded by AngloGold Ashanti within an additional three-year period; and,  

  • Granting to Inflection, subject to existing underlying royalties, a 2% or 1% net smelter return (“NSR”) royalty;  

• All other projects previously included under Phase I of the Earn-in Agreement remain 100% owned by Inflection, with AngloGold Ashanti relinquishing all previous rights;  

• Following the completion of Phase I, AngloGold Ashanti has exercised its right to acquire a 9.9% equity position in the Company.  Inflection will issue 11,133,399 common shares in the capital of the Company to AngloGold Ashanti at a deemed price of C$0.808 per share; and,  

• Phase II step-out drilling is now underway on the Trangie project.  Drilling is following-up on gold-copper mineralisation announced by the Company on February 4, 2025