Peel Mining Limited · ASX:PEX
Peel Mining — Investor Presentation (November 2025)
27 slides from Peel Mining's investor presentation, Nov 5, 2025
Slide 1: Growth & Consolidation in the Cobar Basin
GROWTH & CONSOLIDATION IN THE COBAR BASIN INVESTOR PRESENTATION | NOVEMBER 2025 ASX: PEX
Slide 2: Important Notice Disclaimer
IMPORTANT NOTICE DISCLAMER These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Peel Mining Limited (Peel) as at the date of this presentation and statements are current only as at that date. Information in the Presentatio
Slide 3: Exceptional Projects in a Top-Tier Mining Region
EXCEPTIONAL PROJECTS IN A TOP-TIER MINING REGION Dominant Landholding in the Cobar Region of NSW One of Australia’s leading mineral production regions Substantial High-grade Global Resource Base 22.9Mt @ 2.20% CuEq (1.03% Cu, 0.37g/t Au, 35g/t Ag, 0.72% Pb, 1.45% Zn) Company Renewal Well Advanced St
Slide 4: Corporate Overview
CORPORATE OVERVIEW PE E L MI NI NG ( A SX: PE X) 2025 SHARE PRICE CHART 0.14 C O R P O R AT E S U M M A R Y 0.13 Share Price ($ per share) 0.12 Share Price (52-week range) c 10.0 (5.7 - 13.5) 0.11 Ordinary shares on issue (pro forma) m 833.0 0.1 Market Capitalisation A$m 83.0 0.09 0.08 Pro Forma Cas
Slide 5: Cobar: A Growing Regional Hub
COBAR: A GROWING REGIONAL HUB LE A D ING J URI SD I CTION WI T H OV E R 1 5 0 Y E A RS OF MI NI NG H I STORY. Tier-1 Mining Established Prolific Minerals Jurisdiction Processing Capacity Province Established infrastructure 5 operating plants, 2 on C&M ~33Mt of Resources discovered Long-life, high-gr
Slide 6: Established Pillars for Company Growth
ESTABLISHED PILLARS FOR COMPANY GROWTH H I G H -GR ADE MR E TOTALL ING 2 2 .9 MT @ 2 .2 0 % C UE Q 1 F O R ~ 5 0 0 KT C UE Q 1 ( 6 4 % I N D I CAT ED) AC ROSS 5 D E POSI TS South Cobar Copper Project Southern Nights Complex Exploration and Growth MRE of 11.3Mt @ 2.18% CuEq1 for 246kt contained MRE o
Slide 7: Cobar Regional Overview
COBAR REGIONAL OVERVIEW SI G N I FICAN T OPE RATION AL H UB WI T H E STA BL ISHE D I N FRAST RUCT URE COMPANY Market Cap ~$83m ~US$10.3bn ~$520m ~$400m ~$105m ~$244m ~$65m Project South Cobar CSA Tritton Peak Hera Mineral Hill Endeavor Wonawinta Status Studies Operational Operational Operational Car
Slide 8: South Cobar Copper Project
SOUTH COBAR COPPER PROJECT E STA BL ISHE D COPPER PROJ E CT S WI T H SI G N FICANT RE SOURC E BA SE ➢ Discovered by Peel in 2011 (Mallee Bull) and 2015 (Wirlong) ➢ Combined Mineral Resource: 11.3Mt @ 2.18% CuEq1 for 246kt CuEq (76% Indicated) ➢ Mallee Bull located 100km south of Cobar, ~60km from Wi
Slide 9: South Cobar Copper Project
SOUTH COBAR COPPER PROJECT H I G H -GRADE UN D E RG ROUN D “ COBAR -ST YL E” D E PO SIT S W I T H E X T E N SI ON POT E N TIAL ➢ Typical Cobar-style deposits containing Cu-Ag-Au-Zn-Pb Mallee Bull Wirlong mineralisation ➢ 469 RC/DD drillholes for ~170,000m drilling completed ➢ Both deposits remain op
Slide 10: South Cobar Copper Project
SOUTH COBAR COPPER PROJECT FI R ST PRI N CIPLE S RE V I E W OF MI N E D E V E LOPMEN T A N D PROC E SSI NG OPT I ONS UN D E RWAY ➢ Preliminary mine design and scheduling Mallee Bull Wirlong completed ➢ Significant metallurgical testwork, geotechnical engineering, and project design completed ➢ First
Slide 11: Southern Nights Complex
SOUTHERN NIGHTS COMPLEX H I G H -GRADE 1 0 MT POLY ME TALLIC RE SOURC E BA SE ➢ Southern Nights discovered by Peel in 2017; Wagga Tank in 1970 ➢ Situated on 2,650 acres of owned property, ~130km southwest of Cobar ➢ No joint ventures, deferred consideration or third-party royalties or streams ➢ Comb
Slide 12: Southern Nights Complex
SOUTHERN NIGHTS COMPLEX C L A SSIC V MS SY ST E M WI T H SI G N I FICANT E X PLORATION UPSI D E ➢ High-grade polymetallic VMS system with multiple lodes across 2km of strike and depth of ~700m ➢ Potential to produce zinc, lead and/or copper concentrates + gold and silver doré (via CIL) ➢ 301 RC/DD d
Slide 13: Southern Nights Complex
SOUTHERN NIGHTS COMPLEX E XC E PT ION AL G RA D ES UN D E RPI N D E V E LOPME NT POT E N TIAL ➢ Preliminary mine design and scheduling completed for both deposits; currently under Southern Nights Wagga Tank review ➢ Preliminary metallurgical testwork and project design completed ➢ First principles r
Slide 14: Untapped Growth Potential
UNTAPPED GROWTH POTENTIAL G ROWT H POT E NT IAL V I A TA RG ET-RICH E X PLORATION L A N D SCAPE A N D ST RAT EG IC M& A Cobar Exploration Growth ➢ 2,276km2 of 100%-owned tenure hosting five ➢ Active corporate development targeting major deposits and many un/under-tested value-accretive acquisitions
Slide 15: Nombinnie
NOMBINNIE FORG OT TE N G OLD PROSPE CT PRI ME D FOR D RI L LING ➢ Drill program commenced in October 2025 ➢ Mineralisation commences near surface; untested at depth ➢ Historical drilling at Nombinnie in 1980s1 returned numerous strong shallow gold intercepts, including: • 8m @ 2.14g/t Au from 4m in
Slide 16: May Day
MAY DAY E ME RG I NG G OLD RE SOURC E UNT E ST E D AT D E PT H ➢ ~10km by road from Mallee Bull ➢ Situated on granted Mining Licence ➢ Total Resource: 1.61Mt @ 0.98g/t Au, 25g/t Ag, 0.92% Zn, 0.61% Pb (51koz Au, 1.3Moz Ag, 15kt Zn, 10kt Pb) ➢ ~97% Indicated Resource classification ➢ Concept pit opti
Slide 17: Beanbah
BEANBAH T I E R 1 TA RG ET WI T H IN SI G H T OF COBAR ➢ 35km NE of CSA mine ➢ Historical workings, topographic high with strong hydrothermal alteration ➢ 100nT “bullseye” magnetic anomaly with semi-coincident gravity anomaly ➢ Strong Mo-As-Cu geochem anomalism ➢ Historical drilling has failed to te
Slide 18: Broken Hill (Curnamona JV)
BROKEN HILL (CURNAMONA JV) H I G H -IMPACT POT E NTI AL 860km² in highly mineralised province Part of Curnamona JV (RHI earning 75% by spending $6.5m) Tier 1 potential for stratiform zinc-lead-silver deposits and IOCG copper-gold Historical drill results include: • 2.02m @ 17.3% Zn, 5.9% Pb, 92g/t A
Slide 19: Anabama (Curnamona JV)
ANABAMA (CURNAMONA JV) H I G H I MPACT POT E NTIAL 840km² in highly mineralised province. Part of Curnamona JV (RHI earning 75% by spending $6.5m). Hosts significant structurally controlled copper-gold mineralisation. Historical drill results include: • 9m at 0.52% Cu, 1.8g/t Au from 9m in ARAB09028
Slide 20: Key Investment Takeaways
KEY INVESTMENT TAKEAWAYS POI SE D TO UNLOCK SH A RE H OL DER VA LUE Dominant Landholding in the Cobar Region, NSW One of Australia’s leading mineral production regions Substantial High-grade Global Resource Base 22.9Mt @ 2.20% CuEq (1.03% Cu, 0.37g/t Au, 35g/t Ag, 0.72% Pb, 1.45% Zn) Company Renewal
Slide 21: Appendices
APPENDICES peel mining UMITED
Slide 22: Peel Mining Mineral Resources
PEEL MINING MINERAL RESOURCES A P R I L 2 0 2 5 M R E U P DAT E ~ 2 3 M T R E S O U R C E BA S E W I T H I N A 5 0 K M R A D I U S O F M A L L E E B U L L Peel Mining Total MRE as at April 2025 (various NSR cut-offs) MRE Deposit Category Tonnes (kt) Cu (%) Au (g/t) Ag (g/t) Zn (%) Pb (%) Cont Cu (kt
Slide 23: Mineral Resources by Area
MINERAL RESOURCES BY AREA T W O K E Y D E P O S I T A R E A S B OT H W I T H 1 0 M T + M I N E R A L R E S O U R C E S MRE South Cobar Copper Project MREs as at April 2025 ($A80/t NSR cut-off) Deposit Category Cont Ag Tonnes (kt) Cu (%) Au (g/t) Ag (g/t) Zn (%) Pb (%) Cont Cu (kt) Cont Au (koz) Cont
Slide 24: Mineral Resources by Area
MINERAL RESOURCES BY AREA OT H E R M I N E R A L R E S O U R C E S May Day MRE as at April 2025 ($A40/60/80/t NSR cut-offs) MRE Deposit Category Tonnes (kt) Cu (%) Au (g/t) Ag (g/t) Zn (%) Pb (%) Cont Cu (kt) Cont Au (koz) Cont Ag (moz) Cont Zn (kt) Cont Pb (kt) OP Ind 970 0.00 1.10 25.0 0.78 0.46 -
Slide 25: JORC Code Information
JORC CODE INFORMATION ME TA L E QUI VA LENT C A LCULAT IONS • Copper Equivalent (CuEq) and Zinc Equivalent (ZnEq) grades were calculated from the combined estimates for each deposit zone on the basis of the metal prices and overall metallurgical recoveries shown in Table A. Recoveries are supported
Slide 26: Competent Persons Statement
COMPETENT PERSONS STATEMENT The information in this report that relates to Exploration is based on information compiled by Rob Tyson who is a fulltime employee of the company. Mr Tyson is a member of the Australasian Institute of Mining and Metallurgy. Mr Tyson has sufficient experience of relevance
Slide 27: Nick Woolrych, Managing Director & CEO
NICK WOOLRYCH MANAGING DIRECTOR & CEO N I C K .W O O L R Y C H @ P E E L M I N I N G .CO M . A U +61 (0) 432 492 010 W W W. P E E L M I N I N G .CO M . A U ASX: PEX PEEL MINING LIMITED I ASX: PEX I WWW.PEELMINING.COM.AU 27