Ballard Mining Limited · ASX:BM1
Ballard Mining — Investor Presentation (October 2026)
28 slides from Ballard Mining's investor presentation, Oct 8, 2026
Slide 1: High-Grade Gold. Growing. Permitted. Drill & Build.
ASX: BM1 rsonal use only HIGH-GRADE GOLD. GROWING. PERMITTED. DRILL & BUILD. Capital Raising Presentation October 2026
Slide 2: Disclaimer
DISCLAIMER The following notices and disclaimers apply to this presentation ("Presentation") and you are therefore advised to read this NOT FINANCIAL PRODUCT ADVICE carefully before reading or making any other use of this Presentation or any information contained in this Presentation. This Presentat
Slide 3: Disclaimer
DISCLAIMER NO LIABILITY The information contained in this Presentation has been prepared in good faith by Ballard. However, no guarantee, MINERAL RESOURCE ESTIMATE (MRE) representation or warranty expressed or implied is or will be made by any person (such as Ballard, the Joint Lead Information in t
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Drill and Build rsonal use only PRIME LOCATION GROWTH STANDALONE FULLY PROVEN TEAM MULTIPLE Heart of the WA DRILLING SCALE PERMITTED Experienced gold VALUE DRIVERS Eastern Goldfields with Beyond existing high- Targeting a 10 year mine All Mineral Resources mine developers and O
Slide 5: Sources & Uses
SOURCES & USES • 1.84 Moz at 2.8g/t MRE1 announced 23 September 2026 Source of Funds $ • ~100koz added per month since Feb 26 MRE 2 Cash On Hand3 $44.1M • ~60,000m of growth drilling completed since Sep MRE cut- rsonal use only Capital Raising proceeds (before costs4)5 $50.0M off date of 30 June 202
Slide 6: Drill & Build
DRILL & BUILD Parallel Growth and Development workstreams (including use of placement funds in green) FY27 Drill and Build Sep Q Dec Q Mar Q Jun Q rsonal use only Growth GROWTH DRILLING (Baldock + Regional Targets) Growth drilling beyond existing 1.84 Moz MRE1 INFILL DRILLING (converting Inferred Re
Slide 7: Capital Raising Overview
rsonal use only Capital Raising Overview 7 ballardmining.com.au
Slide 8: Capital Raising Overview
CAPITAL RAISING OVERVIEW Placement and SPP 7km • Ballard is seeking to raise approximately $45.0 million (before costs) in an institutional placement via the issue of approximately 68.2 million fully paid ordinary shares (“New Shares”) at an issue price of $0.66 per New Share (“Offer Price”) in the
Slide 9: Indicative Capital Raising Timetable
INDICATIVE CAPITAL RAISING TIMETABLE Event Date (AEDT) Placement rsonal use only Trading halt on ASX Thursday, 8 October 2026 Launch of Placement Thursday, 8 October 2026 Trading halt lifted and announcement of completion of bookbuild for the Placement Monday, 12 October 2026 Settlement of New Share
Slide 10: Corporate Summary
CORPORATE SUMMARY De-risked balance sheet and share register. 24% institutional shareholders CORPORATE STRUCTURE BOARD & KEY MANAGEMENT PERSONNEL rsonal use only 454 Million 29 Million Shares on issue Performance Rights & Options SIMON LILL PAUL BRENNAN TIM MANNERS Non-Executive Chair Managing Direc
Slide 11: Plan A – Targeting Standalone Scale
PLAN A – TARGETING STANDALONE SCALE FY2026 Resource drilling exceeds expectations in scale and grade at Mt Ida rsonal use only 1. Refer to the Company’s ASX announcement titled “Mt Ida Gold Resource increases 56% to 1.84 Moz” dated 23 September 2026, the disclaimer on slide 3 and Appendix A for furt
Slide 12: Delivering High-Grade Resource Growth
DELIVERING HIGH-GRADE RESOURCE GROWTH Mineral Resource Estimate1 (MRE) increases to +1.84Moz Mt Ida Global Mineral Resource increases by 658 koz (56%) to: rsonal use only 20.4 Mt @ 2.8 g/t for 1.84 Moz gold Cornerstone high-grade Baldock deposit resource increases 35% to: 12.2 Mt @ 3.5 g/t for 1.36
Slide 13: Baldock Deposit Growth Potential
BALDOCK DEPOSIT GROWTH POTENTIAL Baldock Open Pit contains 516 koz @ 3.5 g/t gold with 85% in the JORC Indicated category1 Baldock Underground contains 847 koz @ 3.4 g/t gold with further extension potential tested in FY271 rsonal use only High-grade hits 300m along strike of the OPEN MRE and open b
Slide 14: Baldock Deposit Growth Potential
BALDOCK DEPOSIT GROWTH POTENTIAL Orogenic deposits plumb deep rsonal use only • Mt Ida considered analogous to Gold Fields’ +10Moz Agnew gold camp by renowned Structural Geologist Dr Sarah Jones o Same large granite intrusion • Agnew 1.4km deep1 mine ~150km north • Ora Banda Riverina mine +1km deep2
Slide 15: Satellite Opportunities Emerging
SATELLITE OPPORTUNITIES EMERGING West Knell and Golden Vale each grow by ~100koz 1.7km West Knell rsonal use only • MRE has grown by 258% to 147 koz1 • Comprises several deposits • Mineralised corridor ~490 metres wide • Mineralisation appears to extend a further 1.9km south to join the Neptune depo
Slide 16: Fully Permitted & Infrastructure Works Underway
Fully Permitted & Infrastructure Works underway Fundamental differentiator from other gold developers • All Mineral Resources on Granted Mining Leases rsonal use only • Approved Mining Proposal and Mine Closure Plan for open pit and underground mining at Baldock • Works Approval granted for 2.0 Mtpa
Slide 17: Appendix A: Mineral Resource Estimate
rsonal use only Appendix A Mineral Resource Estimate 17 ballardmining.com.au
Slide 18: Mineral Resource Estimate – September 2026
MINERAL RESOURCE ESTIMATE – SEPTEMBER 2026¹ Indicated Inferred Total Cut-off Deposit Tonnes (kt) Grade (g/t Au) Ounces (koz) Tonnes (kt) Grade (g/t Au) Ounces (koz) Tonnes (kt) Grade (g/t Au) Ounces (koz) Baldock 3,530 3.9 437 1,010 2.5 79 4,540 3.5 516 Kestrel 940 1.6 48 940 1.6 48 rsonal use only
Slide 19: Appendix B: Key Risks
rsonal use only Appendix B Key Risks 19 ballardmining.com.au
Slide 20: Key Risks
B KEY RISKS Some of the key risks associated with an investment in the Company are summarised below. These risks and other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of Shares in the future. Accordingly, an investment in the Co
Slide 21: Key Risks: Land Access Risk
B Land access risk KEY RISKS Mining tenements are a limited form of tenure which can co-exist with, and overlap, other land interests and rights, including private land, pastoral leases, Crown land interests, public reserves, State forests and conservation areas. Ballard's ability to conditions, ind
Slide 22: Key Risks: Climate Change Risk
B Climate change risk KEY RISKS There are a number of climate-related factors that may affect the operations and financial position of Ballard. Climate change or prolonged periods of adverse weather and climatic conditions (including rising sea levels, floods, hail, drought, water, The success of Ba
Slide 23: Key Risks: Resource and Reserve Estimates
B KEY RISKS Resource and Reserve estimates Ore Reserve and Mineral Resource estimates (as those terms are defined in the JORC Code) are expressions of judgment based on drilling results, past experience with mining properties, knowledge, experience, industry practice and many other Native title, cul
Slide 24: Key Risks: Economic and Litigation Risk
B KEY RISKS Economic risk and share market conditions Changes in the general economic climate in which Ballard operates may adversely affect the financial performance of Ballard. Similarly, share market conditions may affect the value of Ballard's quoted securities regardless of Ballard's operating
Slide 25: Appendix C: International Offer Restrictions
rsonal use only Appendix C International Offer Restrictions 25 ballardmining.com.au
Slide 26: International Offer Restrictions
C INTERNATIONAL OFFER RESTRICTIONS This Presentation does not constitute an offer of New Shares pursuant to the Placement in any jurisdiction in which it would be unlawful. In particular, this Presentation may not be distributed to any person, and the New Shares may not be offered or sold, in any co
Slide 27: International Offer Restrictions
C INTERNATIONAL OFFER RESTRICTIONS This Presentation has not been, and will not be, registered with or approved by any securities regulator in the European Union. Accordingly, this Presentation may not be made available, nor may the New Shares rsonal use only European Union be offered for sale, in t
Slide 28: International Offer Restrictions
C INTERNATIONAL OFFER RESTRICTIONS This Presentation and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this rsonal use only Presentation and any other document or
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