Cavalier Resources Limited · ASX:CVR
Cavalier Resources — Australian Gold Conference 2026
20 slides from Cavalier Resources's conference presentation, Oct 14, 2026
Slide 1: Charging Towards Production
rsonal use only CRAWFORD GOLD PROJECT | LEONORA, WA | ASX: CVR Charging Towards Production Stage 1 Crawford Gold Starter Pit Update Australian Gold Conference, Sydney | October 2026 DISCOVER. DE-RISK. DELIVER.
Slide 2: Disclaimer
Disclaimer The purpose of this presentation is to provide general information about Cavalier Resources Limited (ACN Certain statements in the presentation are or may be perceived as “forward-looking statements” and rsonal use only 635 842 143) (the ‘Company’). Unless otherwise stated herein, the inf
Slide 3: All Primary Approvals in Place
ASX ANNOUNCEMENT | 8 OCTOBER 2026 rsonal use only All Primary Approvals in Place Crawford Stage 1 moves from permitting to delivery. “ The principal regulatory hurdles are behind us. Project funding is now the key remaining gate to mining. Daniel Tuffin Executive Technical Director & Interim CEO THE
Slide 4: Crawford: Built to Deliver Stage 1 Gold
Crawford: Built to Deliver Stage 1 Gold Near-Term Production rsonal use only Shallow, low-cost mining. Free-dig oxide starter pit feeds a simple on-site heap leach. Early cash flow from early gold returns.* 20KM EAST OF LEONORA, WA Strong Economics A Tier 1 jurisdiction, 2026 PFS update: Stage 1 NPV
Slide 5: Corporate Snapshot
Corporate Snapshot rsonal use only GOLD PRICE LEVERAGE Share Price Market Capitalisation Enterprise Value +A$10.3M Added to Stage 1 NPV8 for every A$500/oz A$0.245* A$20.9m A$17.2m rise in the gold price (2026 PFS sensitivity). 85.2m 6.2m A$3.7m** Shares on Issue Options Cash (30 June 2026) Tight ca
Slide 6: Board & Management: A Team Built for Production
Board & Management: A Team Built for Production BOARD Ranko Matic Daniel Tuffin Anthony Keers William (Bill) rsonal use only Oliver Executive Chairman Executive Technical Non-Executive Non-Executive Director & Interim Director Director CEO Chartered Accountant Mining Engineer Mining Engineer Geologi
Slide 7: DISCOVER.
01 rsonal use only DISCOVER. A growing gold system at Crawford 117,800oz Mineral Resource ~5,000m drilling extends mineralisation Miranda: 100m+ continuous strike DISCOVER. DE-RISK. DELIVER.
Slide 8: Crawford: Tier 1 Location, Oxide Gold at Surface
Crawford: Tier 1 Location, Oxide Gold at Surface MINERAL RESOURCE STAGE 1 ORE RESERVE rsonal use only 117,800oz 29,300oz 3.75Mt @ 1.0g/t Au 1.00Mt @ 0.91g/t Au 0.5g/t cut-off 0.3g/t cut-off 20km east of Leonora in WA's Eastern Goldfields, a Tier 1 mining jurisdiction Primarily oxide-hosted supergene
Slide 9: Substantial Upside Beyond Stage 1
Substantial Upside Beyond Stage 1 ~25% of Crawford's total Resource sits inside the Stage rsonal use only 1 starter pit; there are potential cutbacks either side to the northwest and southeast 2025-26 RESOURCE DEVELOPMENT DRILLING: BEST RESULTS 7m @ 5.07g/t 5m @ 6.26g/t 7m @ 5.90g/t 15m @ 2.69g/t No
Slide 10: DE-RISK.
02 rsonal use only DE-RISK. Robust returns, low risk NPV8 A$77.2M, 385% IRR 9.3-month payback Simple, shallow, free-dig mine plan DISCOVER. DE-RISK. DELIVER.
Slide 11: Stage 1: Cash Flow Foundation
Stage 1: Cash Flow Foundation The 2026 PFS update lifts Stage 1 NPV8 by ~50%, even after higher capital and operating costs. PFS scheduled the first gold pour (doré) to take place within 3 months of commencement of production. rsonal use only NPV8 IRR Payback Pre-Capex Cash Flow A$77.2M 385% 9.3 mon
Slide 12: Leverage to the Gold Price
Leverage to the Gold Price EVERY A$500/OZ ADDS Stage 1 NPV8 (A$M) by gold price (A$/oz) rsonal use only ~A$10.3M 97.9 108.2 118.3 128.8 to Stage 1 NPV8 across the tested range 87.5 77.2 66.9 56.6 A$56.6M to A$128.8M Stage 1 NPV8 from A$5,500/oz to A$9,000/oz Payback under 10 months 5,500 6,000 6,500
Slide 13: High Confidence, Low Risk Mine Plan
High Confidence, Low Risk Mine Plan Starter Pit Physicals Units Stage 1 rsonal use only Life of Mine Months 18 Ore Tonnes Mined Tonnes 1,004,255 Strip Ratio t:t 2.8x Average Processing Grade g/t 0.91 Average Metallurgical Recovery % 80% Total Gold Recovered oz 23,467 Single open pit, free dig Standa
Slide 14: DELIVER.
03 rsonal use only DELIVER. Momentum towards first gold Native Title & Mining Agreement signed Project financing imminent Pre-production site works underway DISCOVER. DE-RISK. DELIVER.
Slide 15: FY2026: Momentum at Crawford
FY2026: Momentum at Crawford rsonal use only Native Title Agreement COM P LET E Heritage Surveys COM P LET E Updated PFS COM P LET E Native Title and Mining Agreement signed with WTAC for Stage 1 operational area and access road corridor surveyed Stage 1 NPV8 up ~50% to A$77.2M; 385% IRR and 9.3- th
Slide 16: The Road to First Gold
The Road to First Gold From developer to miner rsonal use only DISCOVER. DE-RISK. Stage 1 is designed not just for profit, but to also self-fund growth: first onsite gold pour (doré) scheduled within 3 months of production, then firming up of potential Stages 2, 3, and the northern Miranda corridor.
Slide 17: Why Cavalier & Why Now?
Why Cavalier & Why Now? rsonal use only DISCOVER. DE-RISK. DELIVER. FY2026 MILESTONES PFS update: Native Title Heritage surveys ~5,000m drilling Team strengthened Primary Mining Financing & MSA ~50% NPV uplift Agreement signed completed extends Resource COO appointed Approvals advancing Oct 2026 PRO
Slide 18: Thank you
rsonal use only Thank you FOR MORE INFORMATION CONTACT Daniel Tuffin Executive Technical Director & Interim CEO daniel@cavalierresources.com.au cavalierresources.com.au | ASX: CVR DISCOVER. DE-RISK. DELIVER.
Slide 19: Appendix: Crawford Ore Reserve
Appendix Crawford Ore Reserve rsonal use only The Ore Reserve relates specifically to the conversion of Indicated Resources to Probable Ore Reserves only contained within the Crawford Stage 1 pit design and includes consideration of the modifying factors. Some errors may occur due to rounding. Miner
Slide 20: Appendix: Competent Persons Statement
Appendix Competent Persons Statement rsonal use only The information relating to geology and exploration results is based on information compiled, reviewed and assessed by Mr. Paddy Reidy, who is a Member of the Australasian Institute of The Company confirms that it is not aware of any new informati