Deccan Gold Mines Ltd — Important, 10-06-2026: Company Update

June 10, 2026

To,

BSE Limited

Corporate Relationship Department

Phiroze Jeejeebhoy Tower,

Dalal Street, Mumbai - 400 001

Scrip Code: 512068

Sub: Press Release on Deccan Gold Signs Definitive Earn-In Agreement for Strategic

Spanish Tungsten Project Amid Global Critical Minerals Race.

Dear Sir/ Ma’am,

Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

please find enclosed the press release on Deccan Gold Signs Definitive Earn-In Agreement

for Strategic Spanish Tungsten Project Amid Global Critical Minerals Race.”

Kindly take the same on record.

Thanking you.

For Deccan Gold Mines Limited

Subramaniam Sundaram

Company Secretary & Compliance Officer

Membership No.: A12110

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PRESS RELEASE

Deccan Gold Signs Definitive Earn-In Agreement for Strategic Spanish

Tungsten Project Amid Global Critical Minerals Race

• Pathway to earn an initial 51% stake in the Logrosan Tungsten Project by March 2027

• Project offers exposure to tungsten, gold, rare earth elements, tin, and niobium-tantalum

potential.

• Amid growing focus on resource security, strengthens Deccan Gold's international critical

minerals portfolio essential for defence, aerospace, semiconductors, and advanced

manufacturing.

Bengaluru, June 10, 2026: Deccan Gold Mines Limited (BSE: 512068), India's first and only listed

gold and critical minerals resource company, today announced the signing of a definitive Earn-In,

Option and Shareholders Agreement for the Logrosan Tungsten Project in Spain, providing a

pathway for the Company to progressively earn an initial 51% stake in the project by March 2027.

The agreement marks a significant step in Deccan Gold's strategy to build a globally diversified

portfolio of gold and critical mineral assets aligned with the growing global focus on resource security,

supply-chain resilience, and strategic minerals.

Under the agreement, Deccan Gold will invest EUR 1.76 million to progressively acquire a 51%

stake in Logrosan Minera S.L. by March 2027. The Company will subsequently have the option to

increase its ownership to 75%, subject to agreed milestones and independent valuation, with the

potential to further increase its stake to as much as 95% over time through future funding

participation and dilution provisions, subject to applicable regulatory approvals.

The announcement builds on Deccan Gold's strategic entry into the Logrosan Project announced

in December 2025 and reflects the Company's growing conviction in the asset's long-term potential.

Located within a highly mineralised region of Spain, the Logrosan and Maria Projects together

represent a district-scale critical minerals opportunity with prospectivity for tungsten, gold, tin, rare

earth elements, niobium, and tantalum.

Commenting on the development, Dr. Hanuma Prasad Modali, Managing Director, Deccan Gold

Mines Limited, said: “The definitive earn-in agreement for Logrosan marks an important step in Deccan

Gold's strategy to build a globally diversified portfolio of gold and critical mineral assets. Beyond tungsten,

the project offers exposure to a broader mineralised district with potential across gold, rare earth elements,

tin, and other strategic minerals. As resource security and supply-chain resilience become strategic

priorities worldwide, access to critical minerals is emerging as a key driver of economic competitiveness

and industrial growth. Logrosan strengthens our international critical minerals portfolio and aligns closely

with our long-term vision of building a globally relevant mining platform.”

Exploration undertaken by Deccan Gold's partners has identified multiple targets through extensive

soil sampling, geophysical surveys, and drilling programmes. At Logrosan, a six-hole diamond drilling

campaign intersected multiple veins of potentially economic scheelite (tungsten) mineralisation,

including intersections of 3 metres at 0.42% WO₃, 9 metres at 0.32% WO₃, and 2.7 metres at 0.29%

WO₃.

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A drilling programme currently underway is aimed at extending and further defining the mineralised

zones. Early exploration results suggest that the Dehesa target could represent a significant tungsten

discovery, with additional upside from gold and rare earth element mineralisation.

Tungsten is classified globally as a critical mineral owing to its strategic importance in defence,

aerospace, semiconductors, electronics, advanced manufacturing, and industrial applications.

With China continuing to dominate global tungsten production and processing, governments and

industries worldwide are increasingly seeking diversified and secure sources of supply.

Spain is among Europe's most established mining jurisdictions, offering 100% foreign ownership,

competitive operating costs, a skilled mining workforce, and alignment with the European Union's

Critical Raw Materials Act, which aims to strengthen domestic and allied supply chains for strategic

minerals.

The Company expects to provide further updates on drilling results, exploration progress, and

geological modelling over the coming months as work continues to unlock the full potential of the

project.

About Deccan Gold Mines Ltd.

Deccan Gold Mines Ltd. (BSE: 512068) is India's first and only listed gold and critical minerals resource

company. Established in 2003, the Company has built a diversified portfolio of gold and critical mineral

assets across India and internationally, spanning Andhra Pradesh, Kyrgyzstan, Chhattisgarh, Spain,

Mozambique, Finland, and Tanzania. Deccan Gold is focused on developing responsible, technology-

led, and globally competitive mining assets while creating long-term value for shareholders and

contributing to resource security through sustainable mineral development.

For more information, visit: www.deccangoldmines.com

Media Contact

Kaizzen PR

Niti/Anjitha/Praksha/Murali | dgml@kaizzencomm.com

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