Caspin Resources Ltd. · ASX:CPN
Caspin Resources — Investor Presentation (February 2026)
19 slides from Caspin Resources's investor presentation, Feb 5, 2026
Slide 1: Company Update
For personal use only Company Update CASPIN RESOURCES (ASX: CPN) GREG MILES, Managing Director February 2026 www.caspin.com.au
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not
Slide 3: Corporate Overview
CORPORATE OVERVIEW Successful exploration, corporate and capital markets team CPN – ASX Share Performance (6 months) LEADERSHIP TEAM $0.180 5,000,000 Volume Close $ $0.160 4,500,000 For personal use only $0.140 4,000,000 3,500,000 $0.120 3,000,000 $0.100 2,500,000 $0.080 2,000,000 $0.060 1,500,000 $
Slide 4: Projects
PROJECTS Australian projects offering a diverse mix of BYGOO TIN PROJECT, New South Wales commodities and excellent opportunity to add value • 100% owned through exploration and discovery For personal use only • Growing a high-grade, open pit tin resource WEETHALLE GOLD PROJECT, New South Wales • Op
Slide 5: Bygoo – An Emerging Tin Project
BYGOO – An Emerging Tin Project In the heart of the Wagga Tin Granite Belt, NSW • 100% ownership of the Bygoo Tin Project covering 1,180km2 For personal use only • Surrounds the Ardlethan Tin Mine (excised), which was the largest tin mine on mainland Australia, producing >31kt Sn until 1986 Recent
Slide 6: Maiden Resource Estimate – Kelpie Deposit
Maiden Resource Estimate – Kelpie Deposit A significant step towards a viable mining project • Inferred Mineral Resource Estimate of: 3.94Mt @ 0.5% Sn for 19,300t of contained tin For personal use only • Very robust estimate based on >20,000m of drilling • Defined within an optimised pit shell to 19
Slide 7: Very Large Exploration Target
Very Large Exploration Target Major upside to be realised by more drilling • Exploration Target of: 12-20 million tonnes (Mt) grading 0.35-0.50% Sn For personal use only • Growth in Kelpie to be realised by: Infill drilling between resource lodes Extensions up to 250m along strike to the north a
Slide 8: Excellent Potential to Host a Large-scale Tin Province
Excellent Potential to Host a Large-scale Tin Province Majority of the project yet to be effectively explored • Kelpie Deposit and Exploration Target represent just 5% of the For personal use only prospective eastern contact of the Ardlethan Granite • 20km of prospective contact, very little modern
Slide 9: New Target Developing at Ardlethan East
New Target Developing at Ardlethan East Attractive Ardlethan Mine ‘look-a-like’ target For personal use only • Multiple coherent basement geochemical anomalies • Peak assay of 1.86% Sn from bottom of role RAB, with no follow-up drilling • Rock chips nearby >0.1% Sn • Coincident with magnetic feature
Slide 10: Kelpie Deposit - Metallurgy Results
Kelpie Deposit - Metallurgy Results Excellent Results with simple flowsheet = Competitive Advantage Test work Product Streams Mass Sn Grade Sn Distribution/ For personal use only (%) (%) Recovery (%) Feed 100 0.74 100 Gravity Concentrate 0.75 58.3 58.7 Flotation Concentrate 0.41 45.2 25.1 Gravity Co
Slide 11: Kelpie Amenable to Ore Sorting
Kelpie Amenable to Ore Sorting Positive results from first inspection testing at TOMRA • High-grade feed upgrade approximately 3x times with 71% mass rejection For personal use only • Low-grade feed upgrade approximately 6x times with 92% mass rejection • Only a small volume test, but provides confi
Slide 12: Kelpie – A Significant Australian Tin Project
Kelpie – A Significant Australian Tin Project 1 For personal use only Kelpie is an 1. Peer group represents all ASX listed companies with primary tin assets and First Tin PLC, listed on LSE. exceptional grade 2. MLX Ore Reserve Update 31 January 2025 for an open pit 3. 4. SKY ASX Announcement 23 Jan
Slide 13: Weethalle Gold Project Option
For personal use only WEETHALLE GOLD PROJECT OPTION Low-cost exposure to large scale IRGS target
Slide 14: An Emerging Tin Project and now Exposure to Gold
An Emerging Tin Project and now Exposure to Gold In the heart of the Wagga Tin Granite Belt, NSW • Option over 80% of the Weethalle Gold Project, a drill-ready, For personal use only large-scale Intrusive Related Gold target Second phase of drilling commencing early February Testing new gold in
Slide 15: Weethalle: Regional Structural Setting Similar to Hemi
Weethalle: Regional Structural Setting Similar to Hemi An exceptional discovery-stage gold project with large scale potential • Weethalle Granite a unique circular For personal use only Hemi (rotated) Weethalle feature within the Cobar-Wagga Tectonic Zone – similar geometry and size to 12Moz Hemi De
Slide 16: Historical gold and silver mining at Euratha
Historical gold and silver mining at Euratha Evidence of high-grade gold • Euratha Lode: 300m strike, 100m deep ~ 1m thick For personal use only • Very high grades - Average 1-3oz/t gold, up to 5oz/t gold, plus silver • Importantly, abundant sulphides and quartz = receptive for mapping by Induced Po
Slide 17: Phase 2 Drilling Program To Commence
Phase 2 Drilling Program To Commence Building on learnings from Phase 1, plus additional new soil geochemistry data • Infill soil geochemistry highlights new For personal use only target along strike from Euratha workings • Key structural intersection • High-grade gold rock chips at surface • Second
Slide 18: Caspin's Investment Proposition
Caspin’s Investment Proposition • The Kelpie Deposit is a significant value driver for the Company We’re aiming to deliver the highest-grade open pit tin project in Australia For personal use only A rare investment opportunity on the ASX and western world, with very strong long-term fundamentals
Slide 19: Caspin Resources Limited
For personal use only CASPIN RESOURCES LIMITED Ground Floor, 675 Murray Street West Perth, Western Australia 6005 T: +61 8 6373 2000 E: admin@caspin.com.au ASX: CPN FOLLOW US: Receive news direct to your inbox Subscribe on the Caspin website www.caspin.com.au QR 26/03/2 4
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