Vital Metals Ltd · ASX:VML
Vital Metals — Investor Presentation (July 2025)
21 slides from Vital Metals's investor presentation, Jul 30, 2025
Slide 1: Nechalacho Rare Earths Project, Canada: Tardiff Scoping Study
For personal use only NECHALACHO RARE EARTHS PROJECT, CANADA Tardiff Scoping Study Investor Presentation | July 2025
Slide 2: Important Notices & Disclaimers
Important Notices & Disclaimers For personal use only Nature of document: This presentation has been prepared and issued by Vital Metals Limited (Vital, Vital Metals or the Company) to provide general information about the Company and its related bodies corporate (together, the Group). The informati
Slide 3: Cautionary Statement
Cautionary Statement . For personal use only The Scoping Study referred to in this ASX release has been undertaken for the purpose of initial evaluation of a potential development of the Tardiff Rare Earth deposit at Nechalacho, NWT, Canada. It is a preliminary technical and economic Study of the po
Slide 4: Corporate Snapshot
Corporate Snapshot For personal use only Richard Crookes – NON-EXECUTIVE CHAIR Mr. Crookes is managing partner of Lionhead Resources (LHR) and chairman of the Investment Committee. He has more than 35 years of experience as both a mine operator and investor. Mr. Crookes holds a BSc in Geology. VML
Slide 5: Investment Highlights
Investment Highlights ▸ Leveraging asset qualities, jurisdiction and capability to develop a North American rare earth supply chain For personal use only ▸ Canadian Federal and Provincial Governments have committed to advancing Critical Mineral supply chains and projects. That commitment should tran
Slide 6: Nechalacho Upper Zone Rare Earths Project, Canada
Nechalacho Upper Zone Rare Earths Project, Canada For personal use only ▸ Tardiff has a Total Mineral Resource of 192.7 million tonnes at 1.3% TREO, containing 2.5 million tonnes of TREO, as announced January 2025. ▸ Tardiff is one of the highest-grade rare-earth deposits in the world with one of th
Slide 7: Tardiff Mineral Resource Estimate
Tardiff Mineral Resource Estimate Total Rare Earth Oxide ≥0.7% and above 150RL For personal use only JORC Resource Tonnage Average Grade Contained Oxide Classification (%) (kt) Mt TREO Nd2O3 Pr6O11 Nb2O5 TREO NdPr Measured 7.6 1.48 0.28 0.08 0.24 112 27 Indicated 41.0 1.29 0.25 0.07 0.25 528 131 Mea
Slide 8: Tardiff Scoping Study: Delivering Robust Economics and Upside Potential
Tardiff Scoping Study: Delivering Robust Economics and Upside Potential For personal use only ▸ Hard Rock Starter Open Pit planning to extract only 15% of the total Tardiff Mineral Resource Estimate (MRE) with an initial 11-year Life-of-Mine ▸ Key Financial Outcomes (Base Case): Pre-tax NPV8%:US$776
Slide 9: Tardiff Scoping Study: Delivering Robust Economics and Upside Potential
Tardiff Scoping Study: Delivering Robust Economics and Upside Potential For personal use only ▸ Scoping Study delivers robust financial outcomes using a base case NPV (8% discount) of: – Pre-tax NPV8% of US$776M and 32% IRR – Post-tax NPV8% US$445M and 25.5% IRR ▸ Base case commodity price deck US$9
Slide 10: Production Parameters
Production Parameters ▸ Average production estimate of 56,000 tonnes of concentrate per year at 26.4% TREO and 3.3% Nb2O5 and a 45.1% global TREO For personal use only recovery over an initial 11-year life of mine (LOM). ▸ The selected mini-pit design targets a consistent steady state daily producti
Slide 11: Canadian Supply Chain Development
Canadian Supply Chain Development For personal use only Building a Canadian supply chain would be the preferred route for driving the project forward. There are currently several options for offtake/processing that remain open for Vital to define. Collaboration is the single best way to advance that
Slide 12: What recent investments in MP Materials could mean for North American Rare Earth Floor Prices
What recent investments in MP Materials could mean for North American Rare Earth Floor Prices… For personal use only ▸ Increasing geopolitical pressures to develop an ex-Chinese supply chain make rare earth element demand more inelastic (buyers care less about price and more about availability), and
Slide 13: Key Rare Earth Prices
Key Rare Earth Prices Base Case and current Shanghai Metals Market Element Prices For personal use only Table below demonstrates the Base Case rare earth prices used in the Scoping Study as well as current Shanghai Metals Market prices Rare Earth Base Case SMM1 Oxide (US$/kg) (US$/kg) Pr6O11 $90 $60
Slide 14: Peer comparison
Peer comparison Nd/Pr per contained TREO (total resource x average grade) For personal use only * Bubble size is relative to market capitalization Note: The peer group is constrained to ASX,TSX-V and LSE listed rare earth explorers with a JORC Mineral Resource or Nl 43-101 based qualifying foreign e
Slide 15: Key Catalysts and Next Steps
Key Catalysts and Next Steps Infrastructure For personal use only Collaboration with communities and companies to create a bespoke solution for barging and rail to/from Hay River Project bility: Optimisation low-cost path via partners and networks 1. Optimising the processing flow sheet with a focus
Slide 16: Contact Us
For personal use only Contact Us Vital Metals (ASX:VML) Lisa Riley Managing Director and CEO Mobile +1 (581)624-4833 Email: lriley@vitalmetals.com
Slide 17: Appendix
For personal use only Appendix
Slide 18: What are Rare Earths and Why Are They Important?
What are Rare Earths and Why Are They Important? What are Rare Earths (REE)? For personal use only ▸ A group of 17 metallic elements, including the 15 lanthanides, plus scandium and yttrium ▸ Found in minerals and rarely in concentrated, economically mineable deposits Why are Rare Earths Important?
Slide 19: Focus on Indigenous Engagement
Focus on Indigenous Engagement Canada: Indigenous engagement, infrastructure and collaboration are For personal use only key drivers to success ▸ We are focused on engaging with the Indigenous Communities who are the rights holders of the land on which our project and its potential infrastructure ar
Slide 20: Industry Comparisons (Page 1 of 2)
Industry Comparisons (Page 1 of 2) For personal use only Company Project Company Exchange M/Cap1 Location Ownershi Type Resources Grade Reference Code p (AU$m) (Total) Mt % TREO Vital Metals Nechalacho VML ASX 12.37 Canada 100% Hardrock 193 1.31% Tardiff MRE update - January 2025 Defense Metals Wich
Slide 21: Industry Comparisons (Page 2 of 2)
Industry Comparisons (Page 2 of 2) For personal use only Pr oject Study (S) Resource Grade Grade Resource Grade Grade Resource Grade Grade Resource Grade Contained Grade NdPr/TREO References Mt % TREO %NdPr Mt % TREO %NdPr Mt % TREO %NdPr Mt % TREO TREO (Mt) % NdPr % Pr e-study (PS) Measured Indicat