Slide 1: Corazon Mining: A New Gold Growth Story in Western Australia
ASX:CZN For personal use only Corazon Mining A New Gold Growth Story in Western Australia Investor Presentation May 2026
Slide 2: Disclaimer
Disclaimer FORWARD LOOKING STATEMENT COMPETENT PERSONS STATEMENT - NO NEW INFORMATION This presentation has been prepared by Corazon Mining Limited (“Corazon” or “Company”). It contains The information in this presentation that relates to Exploration Results was previously reported by the For person
Slide 3: Corazon Investment Highlights
Corazon Investment Highlights A new gold growth story in Western Australia Step-Change Acquisition Resource Growth & Production Focus For personal use only CZN to acquire 100% of Westgold Resources’ (ASX:WGX) interest Active resource expansion and reserve definition at Chalice to in the Chalice Gold
Slide 4: Expanded WA Gold Portfolio
Expanded WA Gold Portfolio Development optionality, regional synergies and exploration upside Chalice Two Pools For personal use only Gold Project1 (100% WGX) Gold Project (100% CZN) • 537km2 project area located 200km NE of • Located 75km SW of Kambalda and 70km N of Meekatharra Norseman • JORC 201
Slide 5: Chalice Gold Project
Chalice Gold Project Proven high-grade system, unfinished story 1 Historical High-Grade Production1 For personal use only ▪ Located ~22km west of the Higginsville plant ▪ Open-pit produced 517koz @ 5.6 g/t Au + underground production of 39koz @ 5.5 g/t Au from 1995-1999 ▪ Further 89koz @ 4.35 g/t Au
Slide 6: Corporate Snapshot
Corporate Snapshot Attractive capital structure, well-funded, & backed by a mining-focused execution team Current Capital Structure Board & Management For personal use only $10.3M ~73.6M ~$3.2M Experienced team with proven exploration, development and operational success MARKET SHARES CASH CAP ON IS
Slide 7: WA Gold Strategy
WA Gold Strategy Clear corporate growth strategy to become an established WA gold producer Focused on executing critical operational & corporate milestones to drive shareholder value For personal use only August 2025 Q4 2025 Q1 2026 Q2 2026 6 Aug: Simon Coyle appointed as 10 Sept: Extension of Two P
Slide 8: Acquisition Terms
Acquisition Terms Chalice Gold Project acquisition and $16.5M equity raising Structure • Acquisition of 100% of Westgold Resources’ (ASX:WGX) interests in the Chalice Gold Project For personal use only • Upfront Cash: $8.0M ($250k deposit on execution of the Asset Sale Agreement and $7.75M on Transa
Slide 9: Strategic Alignment
Strategic Alignment Accelerate Chalice development & collaborate on value accretive gold opportunities For personal use only Unlocking Value in Chalice Leverage Existing Infrastructure Immediately transforms CZN to an emerging gold developer while Seven mills within 130km, including WGX 1.6Mtpa Higg
Slide 10: Indicative Deal Metrics
Indicative Deal Metrics Development optionality and exploration upside Deal Structure1 Pro-Forma Indicative Capital Structure Consideration Value ($M) CZN Shares (M) No. of Shares Outstanding m 73.6 For personal use only Upfront Cash (includes $250k deposit) 8.0 - Shares Issued to Westgold Resources
Slide 11: Chalice Gold Project
Chalice Gold Project Significant resource growth potential and development optionality Project Summary1 Project Location For personal use only ▪ 100% owned by WGX Ownership ▪ Lithium rights held by Kali Metals Ltd (ASX: KM1) Location ▪ 75km SW of Kambalda & 70 km N of Norseman, WA Tenure ▪ Mining Le
Slide 12: Proven High-Grade Production
Proven High-Grade Production Demonstrated history of high-grade production until 2014, prior to the rising gold price Historic high-grade production totalling 645koz @ 5.42 g/t Au in a significantly lower gold price environment, with the opportunity to capitalise on current record gold prices1,2 For
Slide 13: Strategically Positioned
Strategically Positioned Established regional infrastructure, seven operating mills located within 130km ▪ Potential access to multiple toll treatment pathways For personal use only ▪ High-grade resources at Chalice are favourable for trucking, toll treatment and ore marketability Overview of Region
Slide 14: Immediate Re-Optimisation Upside
Immediate Re-Optimisation Upside Resource Estimated at US$1,700/oz vs. Today's Gold Price is ~US$4,650/oz Current Mineral Resource was estimated at a considerably lower For personal use only gold price assumption (US$1,700/oz) Block Model by Classification Gold price has increased ~2.7x - immediate
Slide 15: High-Grade Exploration Upside
High-Grade Exploration Upside Enhance resources and grade via drilling plunging shoots below the existing open pit No drilling completed at Chalice since For personal use only 2014 — four immediate resource growth target areas defined Target Area1 Description Atlas-Olympus Test depth extensions to E
Slide 16: High-Grade Gold System
High-Grade Gold System Multiple high-grade gold intersections requiring follow up Standout, Unmined Drill Intercepts1 For personal use only Kronos Atlas Grampians Olympus Near-Mine • 35m @ 2.5 g/t Au from • 27m @ 2.2g/t Au from • 6m @ 2.6g/t Au from • 22m @ 3.0 g/t Au from • 8m @ 8.0 g/t Au from 149
Slide 17: Kronos
Kronos Multiple high grade gold intersections requiring follow up Comprises nine sub-parallel lodes situated up-dip from Atlas. The shallowest defined resource zone with grade increasing with depth. For personal use only corazon.com.au Source: Corazon Mining Ltd (ASX:CZN) ASX Announcement “Chalice A
Slide 18: Atlas
Atlas High-grade continuity confirmed below pit floor Multiple high-grade intercepts demonstrate down-plunge mineralisation extending well below the existing Chalice open pit For personal use only corazon.com.au Source: Corazon Mining Ltd (ASX:CZN) ASX Announcement “Chalice Acquisition Establishes C
Slide 19: Olympus & Grampians
Olympus & Grampians High-grade targets at depth Olympus drill-ready and untested below 524m; Grampians confirms high-grade intercepts below pit floor For personal use only corazon.com.au Source: Corazon Mining Ltd (ASX:CZN) ASX Announcement “Chalice Acquisition Establishes Corazon as an Emerging Gol
Slide 20: Near-mine / Regional Upside
Near-mine / Regional Upside Potential for parallel/footwall lodes and regional anomalies For personal use only Untested ground with clear discovery potential — modern targeting methods never applied • 700m of untested northern strike extension proximal to regional granite contact – prospective mafic
Slide 21: Staged Execution Strategy
Staged Execution Strategy Strategic roadmap to achieve near-term production For personal use only • Finalised acquisition of Chalice Gold Project and Placement (end June 2026) • Drill existing established targets, targeting resource growth 2026 Acquisition & • Investigate potential Open Pit cutback
Slide 22: Two Pools Gold Project
Two Pools Gold Project Building a consolidated land holding – 192km2 to 537km2 in 8 months Expanding project area, multiple drill-ready For personal use only targets, significant exploration upside1 • Area historically under explored, Mapped as Granite by GSWA, identified as greenstone, under a Gran
Slide 23: Two Pools Gold Project
Two Pools Gold Project Modern, systematic campaign to expand the footprint of high-grade lodes Targeting known, high-grade For personal use only mineralisation • New structural interpretation of greenstone below previously mapped as granite • Large 4km gold anomaly identified -including a broad 1.8k
Slide 24: Two Pools Gold Project: High-grade, walk-up drill targets
Two Pools Gold Project High-grade, walk-up drill targets Target Area 1 Identified for Maiden Drilling For personal use only • Historical drilling (1990s/2018) confirmed high-grade gold mineralisation within mafic units, proving continuity beneath shallow granite • No consistency in depth and directi
Slide 25: Two Pools Gold Project: Maiden Structural Diamond Drill Program
Two Pools Gold Project Maiden, Structural Diamond Drill Program Maiden DDH campaign For personal use only completed April 2026 • First systematic structural investigation of Two Pools at depth • Designed to improve geological understanding + future drill planning • Four-hole program included: – Two
Slide 26: Feather Cap Gold Project
Feather Cap Gold Project Strategic, low-cost entry into a proven gold production hub Confirmed high-grade gold mineralisation open in all directions For personal use only • 12-month option to acquire an 80% interest • 154km2 comprising three contiguous exploration licenses and one Mining Lease - Nat
Slide 27: Feather Cap Gold Project
Feather Cap Gold Project Historical high-grade mineralisation, walk-up drill targets Jigsaw/Durack East Feather Cap For personal use only High-grade historical Key intercepts include5: intercepts include5: • 2m @ 3.58 g/t Au from • 35m @ 1.47 g/t Au from 86m (FRC3) 32m inc. 5m @ 5.13 g/t Au from 32m
Slide 28: Newly Identified Murphy Creek & Trudgeon Well
Feather Cap Gold Project Newly Identified Murphy Creek & Trudgeon Well Trudgeon Well8 Murphy’s Creek8 For personal use only • Untested 3.5km lag anomaly multiple peaks exceeding • Outcropping vein material grading 1.13g/t Au + coherent 100ppb Au, with a high of 760ppb Au 1km x 1km soil anomaly (39pp
Slide 29: Portfolio Strategy & Development Timeline
Portfolio Strategy & Development Timeline Portfolio-wide exploration to deliver consistent newsflow across CY2026 and beyond Q2 CY26 Q3 CY26 Q4 CY26 H1 CY27 H2 CY27 For personal use only Capital Proposed 15,000m Targeted Scoping Chalice Gold Raise Drilling Program study/ PFS commencement Project Acq
Slide 30: Investment Highlights
Investment Highlights Grow and create shareholder value through the discovery, acquisition & development For personal use only Two strategic hubs in two proven multi-million ounce greenstone belts, 1 neighbouring multiple gold resources, mines & processing infrastructure Existing resources on grante
Slide 31: Thank you
Thank you. For personal use only For further information please contact: Simon Coyle Madeline Howson Managing Director Media & Investor Enquiries Corazon Mining Limited Discovir Investor Relations A Level 2, 41 Colin St, West Perth WA 6005 P +61 434 073 160 P +61 8 6166 6361 E madeline@discovir.com.
Slide 32: Chalice History
Chalice History Proven discovery & resource growth since the 1990’s but limited modern production Initial Discovery & Mining Avoca Acquisition Further Drilling & Mining For personal use only ▪ Resolute Limited completed extensive ▪ Avoca Mining acquired ▪ Alacer completed 625 RAB holes (17,952m) and
Slide 33: Other Projects
Other Projects Strategic critical metals portfolio Corazon’s portfolio of critical metals projects provide long-term For personal use only exposure to growing demand for essential minerals. Mt Gilmore Cu-Au Project (NSW, Australia) • An emerging porphyry play with potential for a significant copper-
Slide 34: References
References This presentation includes historical exploration results and project information. The Company is not aware of any new information or data that materially affects the information included in this For personal use only presentation, and the Company confirms that, to the best of its knowled
Slide 35: JORC 2012 Resource Statement
JORC 2012 Resource Statement Statement of Mineral Resources as at 11 April 2026 with 1.3 g/t Au cut-off grade For personal use only Classification Tonnes (kt) Grade (g/t Au) Contained (koz Au) Measured 406 3.19 42 Indicated 1,120 2.6 94 Inferred 655 2.64 55 Total Resources 2,181 2.74 191 Notes: 1. T
Slide 36: References | Regional Mine Data
References | Regional Mine Data Ticker Reference Details For personal use only PNR See Pantoro Gold Ltd (ASX:PNR) ASX announcement titled “Annual Mineral Resource and Ore Reserve Statement” dated 22 September 2025 PNR See Pantoro Gold Ltd (ASX:PNR) FY2025 Annual Report / Norseman Operations disclosu