Marmota Limited · ASX:MEU
Marmota — Shareholder Meeting (November 2024)
58 slides from Marmota's shareholder meeting presentation, November 2024
Slide 1: AGM 2024 Chairman's Presentation
Aurora Tank Gawler Craton AGM 2024 Chairman’s Presentation ASX: MEU
Slide 2: Corporate Snapshot
Corporate Snapshot ASX: MEU Capital Structure Share Price (Last 12 months) Shares on issue 1,086 m Options 0 Unlisted options 15 m Market Cap (at 4 cents per share) ~ $ 43 m Cash (as at 30 Sept 2024) $ 2.7 m Zero Debt Board & Management Top Shareholders Executive Chairman Dr Colin Rose Top 20 ~ 40%
Slide 3: Experienced Board
Experienced Board Executive Chairman Non-executive Director: Executive Director: Aaron Brown Neville Bergin Dr Colin Rose Production Exploration Colin has been Non-Executive Neville is a mining engineer with Aaron is an exploration geologist Chairman of Marmota since over four decades of gold with o
Slide 4: Fundamentals: Gold Price
Fundamentals 2022 2023 2024 AGM AGM AGM GOLD price ~ AUD $ 2,500 ~ AUD $ 3,050 ~ AUD $ 4,050 (AUD$ per ounce) 12 month Gold AUD 4
Slide 5: 10,000 km2 of exposure
136-00" Se00E aa GAWLER CRATON ERP Fe COOB! EDY Lt GOLD : CN ae t Sia Hill 10,000 km? of exposure Four Mile a ‘Beverley South Australia New South Wales Olympic Oatige $N JUNCTION DAM = v URANIUM bea * k Gould's Dani Honeymoon ot & 2ORT AUGUSTA South Australia Victoria
Slide 6: Outstanding Projects
3 Outstanding Projects © MARMOTA
Slide 7: Key Takeaway
Key Takeaway Jan 2025: wrapping up exploration at Aurora Tank, commencing JORC, resource work, pit design, scoping study As Aurora Tank wraps up, 2025 exploration focus shifts to grow our uranium resource The cherry on top
Slide 8: Timeline to June 2025
to June 2025 GOLD URANIUM MUCKANIPPIE | | I | COMPLETED | | | I COMPLETED I | | Q4 COMMENCES DISCOVERY | y | COMMENCES COMMENCES y @ COMMENCES ¥ Qi I COMPLETED COMMENCES l 4 RESULTS JUNE COMPLETED * UPDATE
Slide 9: Aurora Tank Gold Discovery
Aurora Tank Gawler Craton Aurora Tank Gold Discovery AGM UPDATE
Slide 10: ~100 g/t Au over 1m
Aurora Tank ~ 100 g/t Au over 1m in 5 different zones 10
Slide 11: November 2024 assay results
Plan View November 2024 assay results see ASX:MEU 26 Nov 2024 RC program designed to try close off open sections … instead found thick rich high-grade extensions at south Currently, our biggest problem at Aurora Tank is …. we keep on finding more gold. (not a bad problem to have) 11
Slide 12: Aurora Tank November assays top the Mining Hub
Aurora Tank November assays TOP the Mining Hub Drilling Intercept gold table
Slide 13: Aurora Tank Plan view
Plan View Tank Aurora Plan view Best downhole gold results 2024 RC drilling highlights in purple boxes 13
Slide 14: Schematic Section through Southern Zone
Schematic Section though Southern Zone showing new high-grade extensions 14
Slide 15: Schematic Long-section through NW flank
Schematic Long-section through NW flank 15
Slide 16: Aurora Tank Summary Highlights
Aurora Tank Summary Highlights 16
Slide 17: Primary Mineralisation
Primary Mineralisation Tests of gold grains (105 g/t) collected at 38m Close to Amenable to downhole on the NW flank surface low-cost open- are predominantly PRIMARY pit methods mineralisation. Primary gold grains sampled from Hole 104 (with fine-grained sulphosalts Suggests host mineralised lodes c
Slide 18: Low-cost Low-capex Heap Leach Pathway
Low-cost Low-capex Heap Leach Pathway “ Marmota has been investigating the optimal pathway to production at Aurora Tank. Excellent column leach test gold recoveries (now being optimised) suggest that Aurora Tank is amenable to low-cost low-capex heap leach techniques. A heap leach means that Marmota
Slide 19: Water source at Aurora Tank
Marmota has water source at Aurora Tank 19
Slide 20: Camp: Installed + Upgraded
CAMP: INSTALLED + UPGRADED • multiple sleeping quarters • separate kitchen • separate management office • septic tank / waste management system • 10,000L self-bunded fuel tank • 90,000L capacity: water storage tanks • potable water treatment system 20
Slide 21: First Pit Wall Parameters
First Pit Wall Parameters 21
Slide 22: Transitioning from Discovery to Production
Aurora Tank Transitioning from: Discovery Production Metallurgical, Infrastructure and Approvals Optimised metallurgical work Completing Dec Camp running, Environmental studies completed, ticking off the boxes for the remainder 22
Slide 23: Key Takeaways Aurora Tank
Key Takeaways Aurora Tank Gawler Craton Aurora Tank is very fortunate to have: ✓ Outstanding High-grade gold intersections ✓ Mineralisation Close to surface ✓ Excellent Gold recoveries (metallurgy) ✓ Soft ground ✓ Primary mineralisation (potential to continue deeper) Company focusing on potential fo
Slide 24: Golden Moon JV
Aurora Tank Gawler Craton Golden Moon JV Setting up a pipeline of Gold projects to follow Aurora Tank AGM UPDATE
Slide 25: Golden Moon JV deposits map
“re Lic isl — CAMPFIRE BORE ~ GOLF BORE 109,000 oz Gold 119,000 oz Gold 46,000 oz Gold °° MAINWOOD~, 12,000 oz Gold et | “AURORA TANK » 100% MEU < MARMOTA Xe Gold Deposits ; Roads Marmota (Half Moon): 90% Title and Minerals* ° 25 5 10 Golden Moon JV Coombedown: 10% Title and Minerals L_._ 4 +t Proje
Slide 26: Golden Moon deposits minimal drilling, growth potential
▪ Golden Moon deposits have minimal drilling compared to Aurora Tank ▪ Not nearly as advanced ▪ Have enormous potential for growth ▪ All reported resources are close to surface (within 100m from surface) ▪ Amenable to low-cost open pit mining. ▪ Current gold price (~A$4100) is more than double the g
Slide 27: First MEU drilling at Campfire Bore
Oct 2024 First MEU drilling at Campfire Bore 11,690m in Oct Assays in early Dec 27
Slide 28: Titanium
Titanium 28
Slide 29: Exceptional Titanium discovery Nov 2024
Exceptional Titanium discovery Nov 2024 See ASX:MEU 13 Nov 2024 ✓ Marmota drilled a magnetic target approximately 1.5km long by 750m wide on 100% owned Muckanippie tenement ✓ Every hole on the fence line yielded exceptional thick rich titanium dioxide (TiO2): ✓ Discovery is open in all directions ✓
Slide 30: Tenement map with rail
6,720,000 6,680,000 6,640,000 280,000 320,000 400,000 440,000 MARMOTA N JA Lina etd Talometres. Projection: GDA94 253 * Gold Deposits Marmota: 100% Title Marmota: 90% Title Golden Moon JV Tenements Marmota: 100% of Gold*| WGCUJV Tenements —— Railway Roads *Gold and associated minerals FF [7 iS — _ |
Slide 31: Titanium Discovery over TMI
Titanium Discovery on MEU EL 6166 (Muckanippie) over TMI (total magnetic intensity) 31
Slide 32: 32
32
Slide 33: Cross-section through Titanium Discovery Holes
Cross-section through Titanium Discovery Holes: Hole 78 (NE) to Hole 81 (SW) 33
Slide 34: Comparison to PTR (next door)
Comparison to PTR (next door) 34
Slide 35: MEU discovery Maximum Downhole TiO2 %
MEU discovery MARMOTA Maximum Downhole Ti02 % 40-2
Slide 36: Uranium
Uranium 36
Slide 37: Junction Dam
Junction Dam ▪ By the end of 2014: MEU spent over A$8 million developing Junction Dam uranium [ ASX:MEU 29 Sept 2014 ] ▪ Now: MEU announced decision to re-commence exploration at Junction Dam, to substantially grow the Company’s uranium resource. [ ASX:MEU 26 Oct 2023 ] 37
Slide 38: Junction Dam exploration history
<& MARMOTA JUNCTION DAM PROJECT MARMOTA LIMITED EXPLORATION REVIEW 2023 Engagement of a Uranium expert to complete a technical analysis of the stratigraphy and mineralisation of Marmota's Junction Dam Uranium Project UPDATED INFERRED RESOURCE AT SAFFRON DEPOSIT 2021 <@arwora MARMOTA LIMITED Acquires
Slide 39: Junction Dam: Background
Junction Dam: Background 1. MEU Junction Dam tenement book-ends BOTH sides of the palaeochannel that runs through the Boss Honeymoon (ASX:BOE) ISR uranium mine – one of just 4 permitted uranium mines in Australia (three of which are in South Australia). 2. Dramatic upturn in both uranium prices (now
Slide 40: Junction Dam bookends the Honeymoon palaeochannel
The Junction Dam uranium tenement (100% MEU) bookends both sides of the palaeochannel 40 of the Boss Energy Ltd (ASX:BOE market cap ~ $1.1 billion) Honeymoon uranium plant
Slide 41: Unsolicited approaches for Junction Dam
More than a DOZEN companies have made unsolicited approaches to Marmota to try and obtain rights to Junction Dam. 41
Slide 42: Junction Dam Re-start
Junction Dam Re-start 1. MEU announced engagement of uranium expert Mark Couzens to: • conduct stratigraphic and mineralisation review, and • design first drill program for Junction Dam re-start 2.Making superb progress! Exceeding all expectations 3. Stage 1, 2, 3 and 4 Review: COMPLETED Drill progr
Slide 43: Area 1: Saffron
Area 1: Saffron ▪ Existing inferred uranium resource 5.4 million pounds @ 557 ppm U3O8 ASX:MEU 18 Nov 2011, 20 Feb 2012, 17 July 2013 ▪ Exploration stopped due to market downturn. ▪ Potential to significantly increase resource. ▪ Multiple high priority Targets ▪ Large untested area of interest ▪ 164
Slide 44: Saffron Priority Uranium Targets
494,800 485,500 <@ MaARMOTA SAFFRON PRIORITY URANIUM TARGETS. 4 New Targets Saffron area 6,489,600 489 600 Target 4 6,480,800 m— Target 3 Area of Interest 6,488,000 7 FY Priority Target eq, L ght22 of interest — Cross Section A-A’ [Eiratscocnannt Interpreted Palaeochannel @ 500-1000 > Palaeochannel
Slide 45: Schematic cross-section across Saffron Uranium Deposit
Schematic cross-section with a length of 600 metres across the Saffron Uranium Deposit
Slide 46: Marmota Junction Dam EL6530
480,000 490,000 ° 460,000 470,000 , <i Marmota Junction Dam EL6530 4 T 6,500,000 Inferred Resource 10.7 Mibs @ 790 ppm Jason’s South © MARMOTA Junction Dam Project N f A Honeymoon fay Exploration Target 0 1.25 25 5 Kilometres Projection: GDA94 254 * Marmota: Uranium Deposits * Boss Energy: Uranium D
Slide 47: Area 2: Bridget
Area 2: Bridget • Enormous potential to host a large uranium resource. • 2 distinct uranium systems, from 2 different geological ages ––– both coincident at Bridget. • HUGE 20m high stacked uranium roll-front similar to what is seen at the Four-Mile Uranium Deposits (Beverley Uranium Mine). • Beverl
Slide 48: Bridget project review findings
The Bridget project review has identified: • two separate Eyre Formation palaeochannels shown in the blue colour, as well as • two Namba Formation palaeochannels shown in the dark green colour . Priority targets have been identified from the stratigraphic interpretation completed. 114 Drillholes Pla
Slide 49: Junction Dam Re-start
Junction Dam Re-start “ More exciting than we could possibly have imagined. Completely changed our concept of the size and scope of uranium mineralisation at Junction Dam .” 49
Slide 50: Bridget Stratigraphic Model
Bridget Stratigraphic Model 50
Slide 51: Area 3: Yolanda
Area 3: Yolanda ▪ Target stretches over 8km long and more than 1km wide. ▪ Smallest number of historical holes: underexplored area ▪ Most of the previous drilling missed the key palaeochannels. 51
Slide 52: GRE
008 000 GRE sxeun08 RT cps RUD ‘on RUS ‘Onna S) slave aie Clee. Valetta ete ete et eee eee eee =s5 . ta a
Slide 53: Jasons
JASONS The Junction Dam uranium tenement (100% MEU) bookends both sides of the palaeochannel 53 of the Boss Energy Ltd (ASX:BOE market cap > $2 billion) Honeymoon uranium plant
Slide 54: Area 4: Jasons
Area 4: Jasons • Jasons is the highest-grade uranium resource that Boss has. • Just across the tenement boundary from us. • New model suggests Palaeochannel continues onto our side! • No drill holes in the area. Target palaeochannel essentially untested. • Potential for New High Grade deposit. 54
Slide 55: Untested Priority Uranium Targets
466,000 468,000 470,000 472,000 474,000 6,506,000 Peak Grade (pU308)* PFN pU308 ppm 6,500,000 @ >1000 @ 500-1000 @ 300-500 @ 150-300 * 0-150 @ Anomalous Uranium Hole 580-49 A A A Peak Grade (eU308)* GAMMA eU308 ppm >1000 500 - 1000 300 - 500 150 - 300 0-150 LJ 8 3 ; ( F Palaeochannel asons”.@ South
Slide 56: Key Takeaway
Key Takeaway ✓ Junction Dam is one of the most exciting uranium deposits in SA, in the premier uranium jurisdiction of Australia ✓ Dramatic change in perception of the potential of Junction Dam ✓ Sector is booming, and Marmota is perfectly located ✓ Both Aurora Tank gold and Junction Dam uranium pro
Slide 57: Prior ASX releases referenced
This AGM Presentation includes information based on prior Marmota ASX:MEU releases which may be referred to for more detail, including: 26 Nov 2024 13 Nov 2024 9 Oct 2024 30 Sept 2024 30 April 2024 9 April 2024 20 Nov2023 26 Oct 2023 20 Sept 2023 1 Sept 2023 1 Aug 2023 3 April 2023 21 Nov 2022 14 Oc
Slide 58: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though MEU has no reason to bel