Announcement PDF ASX Announcement | 3 March 2026 Variscan Mines Limited (ASX:VAR) UPDATE ON EARN-IN TO IRISH ZINC ASSETS AND CLARIFICATION ANNOUNCEMENT Variscan Mines Limited (ASX:VAR) (“Variscan” or “the Company”) advises that, further to its announcement of 2 March 2026 entitled “Status Update – Earn-in to Irish Zinc Assets”, the Company intends on seeking to negotiate a revised date by which the conditions precedent to execution of the proposed Earn-In and Joint Venture Agreement (“Definitive Agreement”) must be satisfied with MDF Global Limited (“MDF”), Zinc GroupCo Pty Ltd (“ZincCo”) and BMEx Pty Ltd (“BMEx”). The Company will keep the market informed of progress on the above. Clarification to announcement of 2 March 2026 With respect to its ASX announcement of 2 March 2026, the Company wishes to clarify that MDF does not have any financial obligations to Variscan and MDF has not failed to satisfy any financial obligations to Variscan. With respect to its ASX announcement of 2 March 2026, the Company also wishes to clarify that ZincCo has not failed to satisfy any contractual financial obligation under the Binding Term Sheet between the Parties (details of which were first announced on 5 August 2025). As at 27 February 2026, certain conditions precedent, including the subscription by ZincCo for $250,000 worth of fully paid ordinary shares in Variscan (“Shares”) at an issue price of $0.005 per Share, are yet to be satisfied, therefore the Definitive Agreement has not been executed. The Company obtained shareholder approval for the issue of the Shares, and free-attaching options, to ZincCo at its annual general meeting on 28 November 2025. That shareholder approval has lapsed as the subscription funds were not received within the timeframe prescribed by the ASX Listing Rules in order for Variscan to issue the securities but does not amount to a default by ZincCo under the Term Sheet. ENDS To ask questions directly to the Variscan management team and access media content, visit our interactive investor website at: https://variscan.com.au/s/aa7e61 This ASX announcement has been approved by the Board and authorised for issue by Mr Stewart Dickson, Managing Director and CEO, Variscan Mines Limited For further information, please contact: Variscan Mines Limited (ASX:VAR) Stewart Dickson Managing Director & CEO E: stewart.dickson@variscan.com.au T: +44 (0) 7799 694195 2 Media & Investor Enquiries Jane Morgan Management Chloe Hayes / Jane Morgan E: chloe@janemorganmanagement.com.au / jm@janemorganmanagement.com.au P: + 61 (0) 458619317/ +61 (0) 405 555 618 About Variscan Mines Limited (ASX:VAR) For more information We encourage all investors to share questions on this announcement via our interactive investor hub Or scan the QR code. Subscribe to our news alert service: https://variscan.com.au/s/8d46e7 Follow us on LinkedIn Follow us on Twitter Visit our investor website: www.variscan.com.au