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Company Overview

Gawler Hydrogen Project (PRM 100%)

Comprised of Eyre Project and Northern Hinge Project

The Gawler Hydrogen Project is Prominence Energy’s flagship natural hydrogen and helium exploration portfolio in South Australia, covering approximately 64,000 km² across the Gawler Craton. The project targets geological systems capable of generating, migrating and trapping naturally occurring hydrogen and helium. Exploration is guided by the presence of radiogenic granitic basement rocks, including the Hiltaba Granite, which may generate hydrogen through radiolysis and water–rock reactions over geological time. Iron-rich rocks provide an additional potential source, alongside crustal anomalies potentially indicative of mantle flux.

Regional crustal fractures and fault systems provide potential migration pathways for these gases, while overlying sedimentary sequences offer possible reservoir and sealing formations capable of trapping accumulations in the subsurface.

Prominence is advancing the project through a staged and capital-efficient exploration strategy designed to progressively de-risk the system. Initial programs focus on integrated soil-gas and groundwater geochemical surveys to test geological concepts, establish environmental baselines and map hydrogen and helium anomalies. Next, seismic surveys will define risked and ranked leads and prospects prior to drilling. The project comprises two key exploration areas — the Eyre Project and the Northern Hinge Project — each targeting distinct geological play types within the broader Gawler hydrogen system.

Eyre Project

The Eyre Project is located on the Eyre Peninsula in South Australia and incorporates exploration licence PEL 803 together with surrounding prospective ground. The area sits across portions of the Gawler Craton where radiogenic basement rocks, mineralised systems and regional structures create favourable conditions for natural hydrogen and helium generation and migration.

Exploration across the Eyre Peninsula targets multiple geological play types, including hydrogen generated from radiogenic granites and mineralised basement rocks and migration along deep crustal structures into overlying sedimentary reservoirs. Prominence is currently advancing integrated soil gas and groundwater geochemical surveys to identify near-surface hydrogen and helium anomalies and refine exploration targets ahead of future geophysical programs and drilling. The region also benefits from established infrastructure and proximity to export routes via the Spencer Gulf, which may provide future development advantages should commercial discoveries be made.

Northern Hinge Project

The Northern Hinge Project is located north of Lake Torrens, along the margin of the Torrens Hinge Zone, a major regional structural boundary between the Gawler Craton and the Adelaide Geosyncline. This structural corridor represents a significant crustal transition zone where deep-seated faults may provide pathways for hydrogen generated within basement rocks to migrate into shallower sedimentary sequences.

The project area is also located near parts of the northern Gawler region where helium-bearing springs associated with the Great Artesian Basin have been recorded, indicating active deep crustal gas generation within the broader system. Exploration within the Northern Hinge Project focuses on identifying structural migration corridors and potential reservoir–seal combinations capable of concentrating hydrogen and helium accumulations within favourable stratigraphic traps.

Big Apple Prospect (PRM 100%)

The Big Apple Prospect is a conventional gas exploration asset located in Block A87 in the Gulf of Mexico, where Prominence holds a 100% working interest. Seismic interpretation has identified a coherent structural trap with strong gas potential within a mature, well-understood petroleum system, providing a technically credible opportunity outside the company’s core natural hydrogen portfolio. The licence carries a five-year exploration term commencing July 2023 and no minimum work program commitments, allowing the project to be progressed or deferred based on technical merit and market conditions rather than contractual pressure.

Big Apple is managed under the same principles that guide Prominence’s broader portfolio: disciplined subsurface analysis, clear risk framing, and conservative capital deployment. Rather than pursuing speculative drilling, the company continues to refine its geological and geophysical understanding of the structure to ensure that any future investment is evidence-led and commercially rational. In this context, Big Apple provides optionality and portfolio balance with exposure to near-term conventional gas upside necessary for the energy transition.

Umine (PRM 20%)

Umine LLP is a strategic 20%-owned investment focused on the remediation and redevelopment of the historic Djideli uranium processing site in Kazakhstan. The project is designed to integrate environmental rehabilitation with the recovery and sale of residual uranium, creating a rare model in which site clean-up and commercial resource development proceed in parallel. Detailed engineering plans have been submitted to the Kazakh Ministry of Industry, supported by local authorities, with permitting expected to unlock the next phase of comprehensive resource sampling and construction of processing facilities. Recent surface sampling has already returned encouraging uranium concentrations, supporting the technical basis for redevelopment.

For Prominence, Umine provides measured exposure to the uranium supply chain that underpins responsible nuclear power generation and long-term low-carbon energy security. The investment complements the company’s natural hydrogen focus by aligning with the same strategic themes: enabling reliable, affordable clean energy while applying rigorous technical standards and transparent project development. As permitting progresses, Umine has the potential to evolve into a future revenue-generating asset, contributing both to portfolio diversification and to the broader objective of supporting credible, infrastructure-scale decarbonisation pathways.

Prominence Energy Ltd and Its Investments