Manuka Resources Ltd · ASX:MKR
Manuka Resources — Investor Presentation (October 2025)
24 slides from Manuka Resources's investor presentation, Oct 8, 2025
Slide 1: An undervalued Australian precious metals play
7 October 2025 For personal use only An undervalued Australian precious metals play On track to commence gold and silver production early 2026 An ASX/NZX-listed Producer, Developer and Explorer with Precious Metals assets in the Cobar Basin and Iron Ore and Critical Minerals assets in New Zealand 1
Slide 2: Disclaimer
Disclaimer This disclaimer applies to this presentation and the information contained in it (the Presentation). By reading complete or that it contains all information about the Company that a prospective investor or purchaser may this disclaimer you agree to be bound by it. The Presentation has bee
Slide 3: Silver/Gold Price Expectations
Silver/Gold Price Gold Futures Forward Curve (USD/oz) Expectations 4900.00 “Now with recession probabilities and ongoing trade and tariff risks. We 4700.00 For personal use only remain deeply convinced of a continued structural bull case for 4500.00 A$ 6858 gold and raise our price targets according
Slide 4: About Manuka
About Manuka Phased Strategy to deliver Self-sustaining ✓ ASX listed mine operator, Value Creation Long Term developer and explorer Strategic Value For personal use only ✓ Near-term production from Gold Taranaki VTM Project4 and Silver assets located in the Near Term Cashflow ▪ Large company-making
Slide 5: Corporate Summary
Corporate Summary Share Price History Capital Structure 20 0.10 18 0.09 Share Price (A$/share) Shares Outstanding 1,065M 16 0.08 Volume (M Shares) For personal use only 14 0.07 Options/Notes Outstanding 208M 12 0.06 10 0.05 Share Price A$0.066 8 0.04 Market Capitalisation A$70M 6 0.03 4 0.02 Cash +
Slide 6: Board and Key Management Personnel
Board and Key Management Personnel Track record of value creation combined with deep and relevant operational experience Dennis was Head of Trading at HSBC Australia prior to joining Tennant Limited in 1997, one of Australia’s largest physical commodities trading For personal use only Dennis Karp co
Slide 7: Welcome to Cobar
Welcome to Cobar Wonawinta Silver Mine Mt Boppy Gold Mine Cobar Basin, New South Wales For personal use only September 2025 7
Slide 8: Manuka holds Assets of Strategic Value in a Tier-1 precious metals district
Manuka holds Assets of Strategic Value in a Tier -1 precious metals and base metals district 2025 US$1.03B acquisition of CSA Metals Acquisition Corp Endeavour Mine Current Market Cap = US$11.32B For personal use only 2023 acquisition of Endeavour Mine CSA Mine from CBH Resources Tritton Mines Cobar
Slide 9: Wonawinta Silver Mine
Wonawinta Silver Mine (100% Manuka) • Existing 1Mtpa CIL Processing Plant and associated Infrastructure built by CCR in 2012 for approximately A$60M. For personal use only • Two existing and three planned Open Pits. • Currently on active Care & Maintenance. • Historic Production of 3.2Moz including
Slide 10: Wonawinta Silver Mine Resource
Wonawinta Silver Mine (100% Manuka) Wonawinta - in-ground Resource For personal use only Ag Ag Pb Pb Resource Mt (g/t) (Moz) (%) (kt) Measured 1.1 47.3 1.7 0.69 7.5 Indicated 12.3 45.5 18.0 0.83 102.8 Inferred 24.9 39.0 31.3 0.39 96.9 Total 38.3 41.3 50.9 0.54 207.2 Wonawinta - ROM Stockpiles Resour
Slide 11: Mt Boppy Gold Mine
Mt Boppy Gold Mine (100% Manuka) • Historically one of NSW’s richest gold For personal use only mines, having produced ~500,000 oz Gold at ~15 g/t Au. • Granted Mining Lease. • Existing 48-bed mining camp and ancillary infrastructure located on site. • Total 2.6Mt Resource at 1.32g/t o 0.3Mt at 4.12
Slide 12: Mt Boppy Gold Mine Resource
Mt Boppy Gold Mine TSF3 Boppy South (100% Manuka) Existing Pit Outline Mt Boppy - in-ground Resource For personal use only Au Au 120 mRL – Depth of Open Resource kt current pit shell design (g/t) (koz) In-Ground Resource Outline Measured 167 4.01 22 Indicated 165 4.24 22 Open Proposed drilling Total
Slide 13: Processing Plant
Processing Plant • Conventional CIL Circuit • Status: Active Care & Maintenance For personal use only • Last operated by Manuka in Jan. 2024 processing Gold Ore from Mt Boppy Addition of a Deslime and Dewatering Circuit to improve Figure: Existing 1800kW Ball Mill mill throughput and enhance leach p
Slide 14: Project Summary
Project Summary • Manuka intends to restart the Wonawinta Processing Plant Highlights that is currently on active care and maintenance. • 10 Year Mine Life • The Plant will undergo a 6-month refurbishment and For personal use only • 10.9Mt Production Target1,2 upgrade, adding a front-end deslime and
Slide 15: Project Implementation
Project Implementation Capital Cost Breakdown Indicative Timeline to Production For personal use only Pre During Life of 2025 2026 Item Revenue Operations Mine Capex Workstream May Aug Nov Sep Dec Feb Mar Jun Jan Apr Oct Jul Plant Upgrades 10.5 0.0 10.5 Plant Refurb 1.8 0.7 2.5 Final Investment Deci
Slide 16: Production Target
Production Target Production Year Unit Total 0 1 2 3 4 5 6 7 8 9 10 WWTA Waste Mined Mt 42.7 - 4.6 6.6 5.4 2.8 6.0 6.6 6.8 3.0 1.0 - WWTA In-Situ Ore Mt 10.2 - 1.1 1.1 1.1 1.1 1.1 1.0 1.0 1.5 1.1 - For personal use only Silver Grade g/t Ag 56.5 - 55 63 62 58 53 60 47 54 57 - WWTA Stockpiles Mt 0.2 -
Slide 17: Financial Forecast
Financial Forecast Production Year Unit Total 0 1 2 3 4 5 6 7 8 9 10 Payable Silver Moz 13.2 - 1.3 1.3 1.6 1.5 1.4 1.4 1.2 1.5 1.5 0.7 Payable Gold koz 35.2 - 3.3 2.6 0.4 12.2 16.8 - - - - - For personal use only Silver Price A$/oz 72.5 72.5 72.5 72.5 72.5 72.5 72.5 72.5 72.5 72.5 72.5 Gold Price A$
Slide 18: Value Enhancements
Value Enhancements • Continued Gold Credit from Wonawinta Silver Ore (Figure 1) For personal use only currently not included in the open pit production targets but historically has generated a 23% gold payable. • Brownfields Exploration Results at Mt Boppy – targeting high grade gold beneath and alo
Slide 19: Taranaki VTM Project, South Taranaki Bight New Zealand
Taranaki VTM Project, South Taranaki Bight New Zealand For personal use only 3D rendering of the proposed Integrate Mining Vessel to be used to mine (via seabed crawlers) and concentrate VTM Iron Sands for sale and redeposit residual sand on the sea floor September 2025 19
Slide 20: About the Taranaki VTM Project
About the Taranaki VTM Project ✓ 100% Owned by Manuka’s subsidiary For personal use only Trans Tasman Resources (“TTR”) ✓ Granted Mining Permit MMP55581 and exploration permit MEP54068. ✓ 3.2Bt Resource1 of Vanadiferous Titanomagnetite (“VTM”) sands located in the shallow waters of the South Taranak
Slide 21: Pre-Feasibility Study Highlights
Pre-Feasibility Study Highlights ASX Release 26 March 2025 For personal use only 3.2Bt Mineral Resource NPV10 Large World Class Iron Sands Deposit, South Taranaki Bight NZ. Initial 20-year Mine Life US$1.26B with material mine life extension opportunities 4.9Mtpa 56-57%Fe IRR 39% + Vanadium and Tita
Slide 22: Resource and Production Target
Resource1 and Production Target2 Initial Mine Plan of 20 Years is based on mining 1Bt of Iron Sands granted Mining Lease MMP55581 to produce 4.9Mt pa of VTM Concentrate2. For personal use only Resource Bt Fe2O3 TiO2 V2O5 Indicated 1.4 10.37% 1.05% 0.05% Total Resources within MMP55581 comprises 75%
Slide 23: National Significance Fast Track Approvals Process
National Significance Fast Track Approvals Process 15 Apr 25 - Application Lodged ✓ New Zealand’s stated objective is to 15 May 25 - Application Deemed Completed For personal use only double mineral export earnings from NZ$1.5B to NZ$3B per annum over 29 May 25 - No Competing Application Decision Ma
Slide 24: Corporate Office
For personal use only Corporate Office: Suite 405 Grafton Bond Building 201 Kent Street Sydney, NSW 2000 Australia Phone: 02 7253 2020 Email: admin@manukaresources.com.au 24
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