Deccan Gold Mines Limited has announced significant progress in its critical mineral exploration activities, with diamond drilling operations now underway at two key projects. The company disclosed these developments under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Diamond Drilling Operations Commence

The company has initiated diamond drilling activities across two strategic locations to advance its critical mineral exploration objectives.

Strategic Focus on Critical Minerals

The Bhalukona project drilling is specifically designed to test subsurface geology and mineralisation with focus below areas where the company has collected anomalous rock chip samples that coincide with promising geophysical signatures. This systematic approach aims to validate the mineral potential identified through preliminary exploration activities.

For the Logrosan Tungsten Project in Spain, drilling activities are targeting tungsten zones previously identified by explorers, including the company's partners. The primary goal is to establish sufficient data to declare a maiden mineral resource for the project, marking a significant milestone in the asset's development.

Management Perspective

Dr Hanuma Prasad Modali, Managing Director of Deccan Gold, emphasized the strategic importance of these drilling activities in supporting India's critical mineral objectives. He highlighted that the Government of India has rightly prioritized critical minerals as a strategic imperative for achieving Atmanirbhar Bharat and leading the global energy transition.

The management expressed commitment to developing resources responsibly, creating value for approximately 50,000 shareholders, contributing to local communities, and supporting India's journey towards self-reliance in critical mineral supply chains.

Company Background

Deccan Gold Mines Limited holds the distinction of being the first and only gold and critical mineral resource company listed on the Bombay Stock Exchange Limited. The company's vision focuses on becoming India's leading gold and critical minerals producer, transforming natural resources into shared prosperity through ethical and responsible mining practices.

Expected Timeline

The company has indicated that it looks forward to sharing the outcomes of both drilling programmes with shareholders over the coming weeks, suggesting results may be available in the near term to provide clarity on the mineral potential of both projects.

Deccan Gold Mines Limited has allotted 85,000 equity shares under its employee stock option plan, marking another milestone in the company's capital structure expansion. The allotment was executed pursuant to the Deccan Gold Mines Limited stock incentive plan, 2024, following regulatory approvals and compliance requirements.

Share Allotment Details

The Nomination & Remuneration Committee approved the allotment of 85,000 equity shares through a resolution passed by circulation on March 03, 2026. The shares carry a face value of Rs. 1/- each and were issued as fully paid-up equity shares to eligible grantees upon exercise of their stock options.

Impact on Share Capital

The allotment resulted in an increase in the company's paid-up equity share capital, reflecting the expansion of the shareholder base through the employee incentive program.

Stock Incentive Plan Overview

The Deccan Gold Mines Limited stock incentive plan, 2024 encompasses a comprehensive employee benefits structure designed to align employee interests with company performance. The plan was filed with BSE Limited on May 23, 2024, and operates in full compliance with SEBI regulations.

Key Plan Features:

• Total options available under the plan: 8,000,000 stock options
• Options granted to eligible employees: 50,50,000
• Options vested as on date: 50,50,000
• Options exercised: 85,000
• Options lapsed: 30,000
• Exercise period: Up to five years from vesting date

Regulatory Compliance

The allotment was conducted in strict adherence to multiple regulatory frameworks, ensuring transparency and proper disclosure to stakeholders.

Compliance Framework:

• SEBI LODR Regulations - Regulation 30
• SEBI Share Based Employee Benefits and Sweat Equity Regulations, 2021 - Regulation 10(c)
• SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

The newly allotted shares carry distinctive numbers from 197816716 to 197901715 and are identical in all respects to existing equity shares. These shares rank pari passu with the company's existing equity shares and are eligible for listing on BSE Limited under the ISIN INE945F01025. The company has fulfilled all disclosure requirements and uploaded the relevant information on its investor relations portal for stakeholder access.