Phoenix Copper Ltd. (United Kingdom) · LSE:PXC
Phoenix Copper Ltd. (United Kingdom) — Phoenix Copper — Investor Presentation (October 2025)
24 slides from Phoenix Copper Ltd. (United Kingdom)'s investor presentation, October 2025
Slide 1: Phoenix Copper October 2025
AIM: PXC OTC: PXCLY PHOENIXCOPPER.COM October 2025 1
Slide 2: Disclaimer
Disclaimer This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into any contract or commitme
Slide 3: Investment Case
Investment Case Metals For Electrification Strong Foundation in Sustainability Stable Mining Jurisdiction Copper is a highly efficient conductor of Phoenix’s sustainability priorities guide every Idaho, a state located in the western United electricity, making it an essential component of step of ou
Slide 4: Corporate Overview
Corporate Overview (at 30 September 2025) PXC Share Structure Shares Issued & Total Voting Rights 241,464,024 Warrants Outstanding 21.31 million Options Outstanding Nil Market Cap £7.36M/$9.98M Shareholders >3% Hargreaves Lansdown (Nominees) 15.20% HSDL Nominees 4.99% NIU Invest SE 14.03% Vidacos No
Slide 5: Issue of Listed Secured Floating Rate Minimum 8.5% Copper Bonds Due 2029-2033
Issue Of Listed Secured Floating Rate Minimum 8.5% Copper Bonds Due 2029-2033 Issuer Security Phoenix Copper Limited Coupon Idaho law mortgage over Issuer’s Issue • Payable semi-annually patented mining claims. • Up to $300 million non-convertible • Higher of: floating rate bonds, due 2033. Listing
Slide 6: Board of Directors
Board of Directors Executive Directors Non-Executive Directors Marcus Edwards-Jones Ryan McDermott Richard Wilkins Catherine Evans Jason Riley Executive Chairman Chief Executive Officer Chief Financial Officer Advisors Paul de Gruchy Harry Kenyon-Slaney Andre Cohen Dennis Thomas 6
Slide 7: Management
Management Mining Operations Ryan McDermott Dave Jarvis Chief Executive Officer, General Manager, Konnex Konnex Administration Operational Office Mackay, Idaho Paul de Gruchy Brittany Lock Lenie Wilkie Vice President of Vice President of Public ESG Coordinator Investor Relations Relations 7
Slide 8: Polymetallic Portfolio
Polymetallic Portfolio Copper, gold, silver, lead Red Star • High grade silver and lead deposit – 1,100 g/t Navarre Creek silver and 21% lead intercept • 2023 inaugural drilling program identifies continuous zone of anomalous, low-grade gold • Maiden inferred sulphide resource of 173.4g/t mineraliza
Slide 9: Empire & Navarre Mining Claims
Empire & Navarre Mining Claims Patented Mining Claims • The claimant owns exclusive title to surface and mineral rights. • Claim ownership is conveyed as private property. • Phoenix directly owns 22 patented claims. Unpatented Mining Claims • Claimant has sole mineral rights. • Surface rights are ma
Slide 10: History of Empire
History of Empire 2017-2023 1901-1942 • Phoenix acquires 80% of Empire • Underground sulphide mining • Phoenix drills additional holes, increasing drill hole count to roughly 485 holes • Up to 8% copper head grade • Phoenix grows resource to include gold and silver • 4% tungsten found just before mi
Slide 11: Empire Mine – Open-Pit Cu, Au, Ag
Empire Mine – Open-Pit Cu, Au, Ag 2024 Mineral Reserve Statement for Empire Mine 2024 Mineral Reserve Statement for the Empire Open-Pit Oxide Deposit, Custer County, Idaho, USA* Fully diluted tonnes at a Net Smelter Return cut-off of $22.59/tonne Classification Tonnes Copper Gold Silver Copper Equiv
Slide 12: 2024 PFS - Economic Model
2024 PFS - Economic Model Project Evaluation Overview After Tax Before Tax Cumulative Net Cashflow (millions) $132.44 $152.98 NPV @ 5.0% (millions) $89.55 $105.44 NPV @ 7.5% (millions) $73.75 $87.86 NPV @ 10.0% (millions) $60.71 $73.29 Internal Rate of Return 40.2% 46.4% Payback Period 1.66 1.41 Pay
Slide 13: General Arrangement – Empire Open-Pit Mine
General Arrangement – Empire Open-Pit Mine 13
Slide 14: General Arrangement Detail – Mill
General Arrangement Detail Mill 14
Slide 15: Empire Open-Pit Process Flow Diagram
Empire Open-Pit Process Flow Diagram 15
Slide 16: Development Roadmap
Development Roadmap Empire Open-Pit Permitting • Mine situated mainly on patented land, simplifying and accelerating permitting • Extensive environmental baseline data already recorded • File Final Plan of Operations Q4 2025 • Aim for Record of Decision in 2026, targeting production in Q1 2027 Const
Slide 17: Empire Sulphide Vein System
Empire Sulphide Vein System Significant Upside Potential • 2018 drilling program intercepted 12.80% copper and 2021 drilling program intercepted 8.38% copper • Copper sulphides below the oxides along a 5.4 km strike within the claim block • Documented production of up to 8% copper from years 1901-19
Slide 18: Red Star & Horseshoe Complex
Red Star & Horseshoe Complex Custer County, Idaho • High grade silver and lead deposit • A seam of mineralization at least 320m long, open at both ends with intercepts including 1,100g/t silver and 21% lead • Maiden inferred sulphide resource of 173.4g/t silver, 3.85% lead, 0.33% copper, 0.92% zinc
Slide 19: Red Star Mineral Resource Statement
Red Star Mineral Resource Statement Mineral Resource Statement for the Red Star Resource Area, Custer County, Idaho, USA, Hard Rock Consulting, April 10, 2019 Tonnes Silver Gold Lead Zinc Copper Resource Silver Gold Lead Zinc Copper (x1000) Grade Grade Grade Grade Grade (Metric) g/t oz g/t oz % lb (
Slide 20: Navarre Creek Gold Exploration
Navarre Creek Gold Exploration Custer County, Idaho Located roughly 5 km west of Phoenix Copper's flagship project, the Empire Mine, on 16 sq km of unpatented mining claims in Custer County, Idaho. 2023 Drilling Program Highlights • 28 reverse-circulation drill holes into four target areas within 4,
Slide 21: Cobalt Holdings in Idaho
Cobalt Holdings in Idaho Lemhi County, Idaho Bighorn Project Redcastle Project • Claims along strike from Iron Creek Mine. • Earn-In agreement with neighboring cobalt exploration and development company. 21
Slide 22: Sustainability
Sustainability Environmental Baseline Studies Include: • Flora and Fauna • Hydrology • Soil and rock geochemistry • ARD • Noise • Socio-economic studies Phoenix has obtained an ‘A’ No critical issues identified to date. rating from Digbee ESG, the leading independent ESG verification company. Empire
Slide 23: Konnex Community Advisory Team
Konnex Community Advisory Team KCAT Advisory Board Established 2022 • Proactively supports an enduring model of partnership, transparency, and accountability between Phoenix and the communities surrounding the Empire Open-Pit operations. • Composed of three representatives of Konnex Resources/Phoeni
Slide 24: Directory
Directory Phoenix Copper Limited Ryan McDermott ryan.mcdermott@phoenixcopper.com Tel: +1 208 9547039 Paul de Gruchy paul.degruchy@phoenixcopper.com Tel: +44 7484 203 720 Richard Wilkins richard.wilkins@phoenixcopper.com Tel: +44 7590 216 657 SP Angel (Nominated Advisor) David Hignall/Jen Clarke/Devi
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