Bmc Minerals Ltd · ASX:BMC
Bmc Minerals — Investor Presentation (May 2026)
37 slides from Bmc Minerals's investor presentation, May 4, 2026
Slide 1: ASX Announcement: Corporate Presentation
ASX Announcement 4 May 2026 Corporate Presentation BMC Minerals Ltd. (ASX:BMC) (BMC or the Company) is pleased to release a copy of its latest corporate presentation. This announcement is authorised for release to the market by Michael McClelland, CEO and Managing Director. For personal use only Fur
Slide 2: BMC Minerals Corporate Presentation May 2026
For personal use only BMC Minerals Corporate Presentation May 2026 Ag Au Cu Zn Pb
Slide 3: Important Information
IMPORTANT INFORMATION Purpose of presentation: This presentation has been prepared by BMC Minerals Ltd. (“BMC” or the “Company”) for information purposes only. This presentation has been provided to you solely on the basis that you (“Recipient”) agree in favour of BMC, their respective related bodie
Slide 4: Important Information: Forward-looking statements
IMPORTANT INFORMATION Forward-looking statements: This presentation contains “forward-looking statements” and “forward-looking information”, including statements and forecasts which include (without limitation) expectations regarding the financial position of BMC, production targets, industry growth
Slide 5: Metal Equivalent Calculations
METAL EQUIVALENT CALCULATIONS Metal grade equivalents (Ore Reserves): Metal equivalent grade is the sum of the value of the grade of each metal, divided by the price of the metal being used for metal equivalent reporting. Metal grades used for calculations are the diluted mined reserve grades: Ag 13
Slide 6: Canada's Premier Polymetallic Project
CANADA’S PREMIER POLYMETALLIC PROJECT Kudz Ze Kayah Project - Expected to be Canada’s Largest Silver and Zinc Producer For personal use only High grade, high margin Advanced stage Kudz Ze Kayah (KZK) is host ~US$150m of capital spent to date to a high Probable Ore Reserve with camp and nearby establ
Slide 7: Where KZK Stands Among Yukon Projects
WHERE KZK STANDS AMONG YUKON PROJECTS For personal use only ▪ Strategically located in central Yukon, a Tier-1 mining jurisdiction with a history of base metal production and supportive regulatory environment ▪ Strong access to existing infrastructure, with road connections to Watson Lake and onward
Slide 8: Kudz Ze Kayah Project History
KUDZ ZE KAYAH PROJECT HISTORY Yukon Environmental and Positive Decision Document Socio-Economic Assessment Received for development of Cominco Resources Maiden BMC Ore Board (YESAB) recommend to the ABM Mine by the BMC acquires the KZK Project For personal use only (now Teck Resources) Reserve Estim
Slide 9: Key Value Drivers at KZK
KEY VALUE DRIVERS AT KZK Strategic initiatives and priority workstreams for the next 12–18 months For personal use only Engineering Permitting Construction Exploration financing 20,000m of diamond drilling Technical Report refresh in Decision Document for ABM Construction financing and geophysics ai
Slide 10: KZK Project Site Overview
KZK PROJECT SITE OVERVIEW For personal use only 9
Slide 11: Exploration Update
EXPLORATION UPDATE Initial Drilling Intersects High-Grade Massive Sulfides at Krakatoa Zone ▪ 2026 drilling program of 20,000m drilling program underway For personal use only targeting multiple high-priority targets within 5 km of the proposed ABM Mine aimed at extending mine life ▪ Thick, high-grad
Slide 12: Capital Structure
CAPITAL STRUCTURE Well funded to deliver on our plan for exploration, permitting, feasibility optimizations and engineering design Escrow arrangements2 For personal use only BMC Minerals Limited Key metric Ticker BMC Holder CDIs %4 Escrow Period Shares on issue1 ~275m ASX & BMC (UK) 170,260,640 62.0
Slide 13: Board Composition
BOARD COMPOSITION A highly credentialled board with deep experience in mine development, operations and capital markets For personal use only STEVEN MICHAEL MICHAEL MCCLELLAND ALEX CHRISTOPHER NATALIA STRELTSOVA IVAN MULLANY SCOTT DONALDSON DAVID ELLIS Non-Executive Chair CEO & Managing Director Non
Slide 14: High-Grade Polymetallic Mineral Resource
HIGH-GRADE POLYMETALLIC MINERAL RESOURCE Majority of ABM Mineral Resource converted to Ore Reserves underpinning the mine plan Probable Ore Reserve size (Moz AgEq)1,2,3 For personal use only ICE DEPOSIT5 107Moz 70Moz 50Moz 50Moz 25Moz Commodity Silver Gold Copper Zinc Lead KUDZ ZE KAYAH PROJECT Cont
Slide 15: KZK Project Highlights
KZK PROJECT HIGHLIGHTS High-grade polymetallic project with compelling economics For personal use only Annual Reserve Ag Metal production1 grade3 Silver equivalent metrics1,2 Initial project life Probable Ore Reserve3 Ag 7.8Moz 138g/t PHYSICALS ~9 years 15.7Mt Au 57koz 1.3g/t Annual production: Cu 1
Slide 16: Commodity Price Assumptions
COMMODITY PRICE ASSUMPTIONS Kudz Ze Kayah US$835m NPV7% (pre-tax) based on long term metal price assumptions well below current spot 2023 ± 10% price For personal use only Economic Consensus Difference between 2023 Economic Update Spot Difference between 2023 Economic Update movement Commodity Updat
Slide 17: Mining Overview
MINING OVERVIEW Simple, open pit mining and high-grade massive sulfide Probable Ore Reserve ▪ Majority of mining via open pit – 14.0Mt of ore (89% of Probable Ore Reserves) For personal use only ABM ZONE mined via open pit and 1.7Mt of ore (11% of Probable Ore Reserves) extracted via underground min
Slide 18: Processing Overview
PROCESSING OVERVIEW KZK has a proven flowsheet with flexible concentrate logistics Processing and logistics summary Concentrate production For personal use only LOM recoveries and Ag g/t Au g/t Cu % Zn % Pb % concentrate grades 2.0Mtpa; producing ~200ktpa1 of zinc concentrate, ~60ktpa1 copper conce
Slide 19: Offtake Agreements
OFFTAKE AGREEMENTS Long-term offtake agreements in place with globally recognized partners For personal use only Flexible concentrate offtake Pricing mechanism driven by Ensures future demand and Leveraged to any upside terms during early spot prices de-risks initial operations in commodity pricing
Slide 20: Pre-Production Capital Cost Breakdown
PRE-PRODUCTION CAPITAL COST BREAKDOWN Low capital cost intensity results in a ~2-year payback period at 2023 Economic Update pricing For personal use only Capital cost Contingency Open pit mining Area (US$m)1 US$55m US$51m Open pit mining 51 Processing 190 Owner’s and Infrastructure2 111 indirect co
Slide 21: Operating Cost Breakdown
OPERATING COST BREAKDOWN KZK is a low-cost operation expected to generate impressive margins Operating cost summary1 Breakdown of All In Sustaining Cost (AISC US$/oz AgEq) For personal use only AgEq basis $0.65 $11.83 Area (US$/oz AgEq) $0.47 $0.91 Sustaining Mining 2.86 capital PMPA $2.15 $9.80 Pro
Slide 22: Path to Mine Investment Decision
PATH TO MINE INVESTMENT DECISION For personal use only Judicial review Permitting process Final Investment Technical Report Financing process completed on track Decision ▪ Economic update ▪ Regulatory permitting ▪ Key outstanding licences ▪ BMC will explore a published October 2023 applications subm
Slide 23: KZK Project – Finlayson Lake District
KZK PROJECT – FINLAYSON LAKE DISTRICT The Kudz Ze Kayah Project mineral tenure is considered under-explored Finlayson district ICE DEPOSIT1 For personal use only ▪ 4 separate polymetallic volcanic-hosted massive sulfide (VHMS) events within the district FINLAYSON LAKE DISTRICT ▪ All known deposits e
Slide 24: A High-Margin Polymetallic Project
A HIGH-MARGIN POLYMETALLIC PROJECT For personal use only Significant Exploration Upside High Grade Underexplored 372 sqkm tenure in the KZK is host to a high Probable Ore Reserve Finlayson district, a region renowned for grade of 597g/t AgEq (silver equivalent)1 its high-grade volcanic hosted massiv
Slide 25: Appendix
For personal use only APPENDIX
Slide 26: Permitting Process Overview
PERMITTING PROCESS OVERVIEW Kudz Ze Kayah Project permitting well advanced For personal use only Stage 1: Stage 2: Environmental and socio-economic assessment phase Regulatory phase Mining and exploration ▪ Carried out by YESAB ▪ Carried out by the Federal and Yukon government in the Yukon departmen
Slide 27: Mineral Resources and Ore Reserves
MINERAL RESOURCES AND ORE RESERVES Tonnes Ag Au Zn Cu Pb AgEq Ore Reserves Classification Mt g/t g/t % % % g/t For personal use only ABM Zone Probable 13.4 131 1.3 5.9 0.9 1.5 597 Krakatoa Zone Probable 0.6 246 1.9 6.3 0.4 3.1 752 Total Open Pit Probable 14.0 136 1.3 5.9 0.9 1.6 604 Krakatoa Undergr
Slide 28: Financial Metrics
FINANCIAL METRICS Pre-tax free cash flows of ~US$246m per annum Pre-tax free cash flow1 For personal use only US$283m US$272m US$283m US$254m US$258m US$230m US$234m ~2-years US$157m Payback period Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Operating costs (per oz AgEq)1,2 US$11.79 US$1
Slide 29: Production Profile
PRODUCTION PROFILE Average annual production of ~32Moz1,2,3 pa over 8 years of processing Ore processed 3.0 For personal use only 2.2Mt 2.1Mt 2.1Mt 2.2Mt 2.0Mt 1.9Mt 2.0 1.7Mt High-grade feed 1.6Mt Average feed grade 1.0 of 597 g/t AgEq2,3 - Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Ag
Slide 30: Exploration Prospects – ABM Corridor
EXPLORATION PROSPECTS – ABM CORRIDOR High-grade intersections within 1km of proposed ABM mine For personal use only RHYOLITE PEAK1 (~1km west of ABM) 3.8m from 7.5m 5.1% Zn 128g/t Ag 0.8g/t Au 0.4% Cu 1.3% Pb CHARLIE 4.5m from 20.1m 8.7% Zn 291g/t Ag 1.7g/t Au 0.3% Cu 2.5% Pb 2.4m from 18.3m 6.7% Zn
Slide 31: Exploration Prospects – KZK Project: GP4F
EXPLORATION PROSPECTS – KZK PROJECT GP4F – high-grade zinc, silver, gold intercepts For personal use only GP4F (~5km south-east of ABM) ▪ ~5 to10m in thickness 8.9m @ 0.2% Cu, 4.0% Pb, 7.8% Zn, ▪ ~500m down-dip and ~300m strike extent 1.8g/t Au, 117g/t Ag from 71.6m ▪ Remains open both along strike
Slide 32: Substantial ESG Credentials
SUBSTANTIAL ESG CREDENTIALS ENVIRONMENTAL GOVERNANCE SOCIAL For personal use only ▪ BMC has received multiple awards for ▪ A politically stable, well- ▪ Multiple Agreements with First Nations environmental and social performance established jurisdiction for both ▪ Socio-Economic Participation Agreem
Slide 33: Precious Metals Financing
PRECIOUS METALS FINANCING Precious Metals Financing – Wheaton Precious Metals Under the terms of the Precious Metals financing, the Company is committed to delivering to Wheaton specified percentages of the Company’s refined gold and refined silver production, if any, as summarized as follows: Time
Slide 34: Non-IFRS Terms
NON-IFRS TERMS BMC uses certain financial measures to assess how the ABM Mine Project is projected to perform and to plan and to assess the overall effectiveness and efficiency of the potential future mining and processing operation. These financial measures (collectively referred to as Non-IFRS Fin
Slide 35: Non-IFRS Terms
NON-IFRS TERMS NPV: Net Present Value, is the value of all future cash flows (positive and negative) over the entire life of an investment discounted to the present. NPV analysis is a form of intrinsic valuation and is used extensively across finance and accounting for determining the value of a bus
Slide 36: Mineral Resources, Ore Reserves and Production Targets
MINERAL RESOURCES, ORE RESERVES AND PRODUCTION TARGETS JORC Disclosure The information in this presentation which relates to Exploration Results, estimates of Mineral Resources, Ore Reserves, Production Targets and Forecast Financial Information derived from a Production Target ("Forecast Financial
Slide 37: Contact us
For personal use only Contact us For more information contact: Michael McClelland | CEO & Managing Director investors@bmcminerals.com ASX:BMC | bmcminerals.com