Barton Gold Holdings Limited · ASX:BGD
Barton Gold — RIU Sydney Resources Roundup 2025
20 slides from Barton Gold's conference presentation, May 7, 2025
Slide 1: South Australia's 1.7 Moz Au Developer
ASX:BGD FRA:BGD3 OTCQB:BGDFF South Australia’s 1.7 Moz Au Developer 7 May 2025 | RIU Sydney Resources Roundup Perseverance Mine, Tarcoola Project
Slide 2: Important Notices
Important Notices Disclaimer This document has been approved by the Board of Barton Gold Holdings Limited (ACN 633 442 618) (together with its affiliates, “Barton” or the “Company”) and has been prepared for the exclusive use of the party to whom Barton delivers this document (the “Recipient”). The
Slide 3: 1.7 Moz SA Developer
1.7 Moz SA Developer Strategic ‘first mover’ with permitted infrastructure in a proven gold district Leading the re-emergence of South Australian gold • ~5,000km2 tenements (1.25m acres), & region’s only gold mill • Low-cost Resources growth and new high-grade silver discovery (1) • Targeting distri
Slide 4: Capital Structure
Capital Structure Strong funding position with register consolidating around aligned management and reliable progress ($AUD) Share Distribution (5) Shares on issue (1) 218.9 million Board & Management 20% 22% Market Cap ($0.465 / share) (2) $102 million Institutional & Corporate Cash (3) $7 million
Slide 5: Experienced Leadership
Experienced Leadership Strong SA and gold pedigree Board of Directors Senior Management Ken Williams | Non-Executive Chair Nicola Frazer | Chief Financial Officer • ~30 years in mining, aviation & financial services • ~25 years in South Australian mining & oil / gas • Former CFO Normandy Mining (New
Slide 6: Dual Platforms
Barton has the infrastructure leverage to quickly and Dual Platforms cheaply step from 'explorer' to 'producer’, then self-fund Marmota (MEU) Darwin Rail 286koz Au Central Gawler Mill Peak Iron Stage 1: Leverage Central Gawler Mill 650ktpa capacity Marmota (MEU) Peculiar Knob Aurora Tank (Au) Fe 6
Slide 7: Following the Leader
Following the Leader Large-scale capital and operating efficiencies are the path to lower costs and higher profits $10.00 ASX:CMM (Mkt Cap ~A$4bn) - Karlawinda Project (1,2) 1 Aug 2024 • Bulk open pit and 4.5Mtpa mill → 120koz annual production 2.25Moz Au (0.7g/t)(4) $7.50 • One of Australia’s lowes
Slide 8: Tunkillia Scale Platform
Tunkillia Scale Platform Rapidly expanded → 1.6Moz gold & 3.1Moz silver • Historical data and new tech → efficient growth • 5 new gold zones + 5 MRE upgrades since Oct 2020 (1) Bulk-efficient open-pit production model (2) • Q3 2024: Initial Scoping Study → scale efficiencies • Q2 2025: Optimised Sco
Slide 9: Tunkillia Optimised Scoping Study
Tunkillia Optimised Scoping Study Exceptional returns, sub-1 year payback Key May 2025 OSS outcomes: (1) ~5 Mtpa 121kozpa 259kozpa A$2,222 A$2,829 x 8 years payable Au payable Ag AISC / oz Au FCF / oz Au A$4.8bn A$2.7bn A$1.4bn 73% IRR 0.8 years Revenues FCF (Ops) NPV7.5% (unlevered) payback Materia
Slide 10: Tunkillia MRE Geometry
Tunkillia MRE Geometry Attractive characteristics with higher- grade central & shallow supergene zones ➢ ~80% of MRE tonnes & gold ounces within 200m of surface (1) ➢ ~300m long higher-grade core = valuable ‘Starter Pit’ (1) ➢ +200koz Au in shallow (~35m deep) oxide / transitional layer (1) (1) N 40
Slide 11: Tunkillia Staged Mine Design
Tunkillia Staged Mine Design High-value ‘Starter Pit’ drives strong project financial profile High-value ‘Starter Pits’: (1) (1) • ‘Stage 1’ produces 206koz Au & 491koz Ag at operating cash cost of only ~A$1,116/oz Au • ‘Stage 1’ yields A$825m FCF in ~13 months at an operating cash margin of ~A$4,00
Slide 12: Tarcoola High-Grade History feed
Tarcoola High-Grade History feed Potential high-grade ‘Stage 1’ and future ‘Stage 2’ blend Darwin Rail ML6455: the home of SA gold N • 1893 gold rush (~1893 – 1950) produced 77koz Au @ 37.5 g/t Au (1) • Produced open pit ore @ ~3.8 g/t Au EL7022 → Central Gawler Mill during 2018 (1) EL6860 Perseve
Slide 13: Tarcoola Perseverance Mine Extensions
Tarcoola Perseverance Mine Extensions = high-value ounces for existing fully permitted mill (1) Fully permitted mine • All approval in place - ‘walk up restart’ asset • Operated 2017-2018 High-value ounces (1) • Pit floor: ~20koz Au • Stockpile: ~10koz Au Extension potential (1) • Grey areas modelle
Slide 14: Tarcoola Emerging Platform
Tarcoola Emerging Platform New model for historical high- grade goldfield → 1st discovery 2023: new model for ~15km high- grade Tarcoola Goldfield (1) Parallel high-grade gold and silver discoveries @ Tolmer: (1) • gold / silver system(s), quartz veining in broader alteration • gold up to 83.6 g/t [
Slide 15: Tolmer Silver Discovery
Tolmer Silver Discovery Shallow, Ag-dominant mineralisation with globally significant drilling intersections Source: Refer to ASX announcement dated 16 April 2025 15
Slide 16: Key Targets
Key Targets Accelerating ‘Stage 1’ operations and large-scale ‘Stage 2’ growth Stage 1│Central Gawler Mill CY 2025 CY 2026 Restart options analyses Engineering & Resource drilling Commissioning & production Stage 2│Tunkillia Project Optimised Scoping Study ML studies (environmental) Feasibility tend
Slide 17: Summary Platform + performance = Value
Summary Platform + performance = Value Strategic platform includes fully-permitted infrastructure Advancing consistently with near-term ‘Stage 1’ operations Well capitalized with fully aligned, experienced leadership Multiple catalysts and frequent news Accessible in AUD, USD and EUR on Australian,
Slide 18: Contact
Contact Barton Gold Level 4, 12 Gilles Street Adelaide SA 5000 contact@bartongold.com.au www.bartongold.com.au Alexander Scanlon Managing Director & CEO a.scanlon@bartongold.com.au +61 425 226 649 Jade Cook Company Secretary cosec@bartongold.com.au +61 8 9322 1587 18
Slide 19: JORC (2012) Mineral Resources
JORC (2012) Mineral Resources (1) (1) Tables show complete JORC Mineral Resources Estimate (MRE) for each Project on a 100% basis. Figures are subject to rounding, tonnages are dry- metric tonnes, and all Mineral Resources classified as ‘Inferred’ are approximate. Gold cut-off grades applied are: •
Slide 20: Competent Persons Statements
Competent Persons Statements The information relating to Exploration Results and Mineral Resources in this presentation is extracted from the Company’s Prospectus dated 14 May 2021 (Prospectus) and Barton ASX announcements as cross-referenced in the body of this presentation. A copy of the Prospectu
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