Killi Resources Ltd (ASX:KLI) has achieved a pivotal operational milestone, commencing its highly anticipated maiden reverse circulation (RC) and diamond drilling campaign at the flagship Mt Rawdon West Copper-Gold Project in central Queensland. Situated approximately 70 kilometres inland from Bundaberg, Mt Rawdon West lies along a prolific mineralised corridor just 20 kilometres from the multi-million-ounce Mt Rawdon gold mine. Comprehensive surface exploration, high-resolution geophysics, and extensive soil geochemical surveys have delineated massive, multi-kilometre coincident copper-gold-molybdenum anomalies across the Baloo and Kaa prospects.

Maiden Drilling Commences at Mt Rawdon West

The commencement of maiden drilling represents the definitive, highly anticipated technical test of Killi's large-scale intrusive-related porphyry copper-gold geological model. By drill testing beneath outcropping gossans and high-chargeability induced polarisation (IP) geophysical plates, Killi aims to confirm primary massive sulphide mineralisation at depth, establishing an authentic large-scale porphyry discovery in a tier-one Australian Mining jurisdiction.

Strategic Exposure to Critical Electrification Metals

The Mt Rawdon West project provides highly leveraged exposure to two premier commodities that sit at the centre of global industrial electrification and macroeconomic resilience. Copper represents an indispensable physical Commodity facing severe structural long-term Supply deficits driven by expanding global electrical grids, renewable power generation, electric vehicle motors, and AI data centre infrastructure. Authentic discoveries of large-scale copper-gold porphyry systems carry immense strategic value, commanding substantial corporate Acquisition premiums from major international mining conglomerates seeking long-life reserves.

Simultaneously, gold co-product credits provide vital economic resilience, cushioning project Economics against cyclical base metal price volatility. Beyond Queensland, Killi holds prospective landholdings across Australia, including the Ravenswood North gold project in the Charters Towers region and the West Tanami project in Western Australia, providing valuable multi-basin exploration optionality.

Exceptional Market Performance and Financial Standing

In the completed ASX Trading session on 2 October 2026, shares in Killi Resources Ltd closed at $0.280, easing by $0.015 or 5.09% across an intraday band of $0.280 to $0.300 on Volume of 222,877 shares. At this price level, Killi carries an Equity Market Capitalisation of $101.00 million, reflecting an outstanding 366.67% gain over the preceding 12-month period, establishing KLI as one of the ASX's premier copper-gold exploration performers.

Killi's financial foundation is reinforced by a strong cash treasury, bolstered by successful oversubscribed capital raisings supported by leading domestic and international resource institutions. This robust capital strength allows management to execute continuous, aggressive multi-rig diamond and RC drilling programmes across priority prospect zones without near-term financing constraints or corporate dilution.

Operational Roadmap and Drilling Catalysts

Killi's immediate operational roadmap focuses on delivering initial laboratory assay results from the ongoing maiden drilling campaign at Baloo and Kaa. Downhole electromagnetic (DHEM) surveys will be systematically conducted across newly completed drill holes to detect off-hole conductive sulphide lenses, providing real-time vectoring for follow-up drilling.

Subsequent operational phases will involve step-out diamond core drilling to evaluate the structural plunge and scale of the mineralised intrusive complex. Demonstrating wide, continuous zones of commercial-grade copper-gold sulphide mineralisation will represent a transformative corporate catalyst, positioning Killi for substantial market re-rating and major joint-venture farm-in interest.

Material Hazards and Exploration Uncertainties

Prospective investors must balance Killi's discovery upside against material exploration risks inherent in greenfield mineral exploration. Large-scale geophysical and geochemical anomalies carry geological risk, where drill testing may intersect non-mineralised lithologies such as graphitic shears or barren pyrite rather than economic copper-gold sulphides.

Furthermore, early-stage exploration enterprises require periodic capital raisings to sustain long-term drilling campaigns, carrying potential Shareholder dilution. Operational execution in central Queensland is also exposed to seasonal sub-tropical wet-season access disruptions, contractor drilling cost inflation, supply chain bottlenecks, and statutory cultural heritage clearances prior to ground disturbance.