Tertiary Minerals Plc · LSE:TYM
Tertiary Minerals — Investor Presentation (December 2025)
43 slides from Tertiary Minerals's investor presentation, December 2025
Slide 1: Company Presentation
www.tertiaryminerals.com info@tertiaryminerals.com AIM: TYM Drilling at Target A1, Mushima North Project, Zambia Company Presentation December 2025
Slide 2: Disclaimer
OVERVIEW PROJECTS SUMMARY APPENDICES DISCLAIMER The content of information contained in these slides and the accompanying verbal presentation (together, the “Presentation”) has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”). Relia
Slide 3: Key Investment Highlights
OVERVIEW PROJECTS SUMMARY APPENDICES KEY INVESTMENT HIGHLIGHTS Strong Technical Team Portfolio Diversification 100+ years technical & corporate experience Key projects in stable jurisdictions: Zambia, US, within the junior exploration sector. Sweden. Exposure to multiple metals. Right Exploration Ad
Slide 4: Board of Directors
OVERVIEW PROJECTS SUMMARY APPENDICES BOARD OF DIRECTORS PATRICK CHEETHAM DR RICHARD BELCHER DONALD McALISTER DR MIKE ARMITAGE Executive Chairman Managing Director Non-Executive Director Non-Executive Director • Geologist and founder of the • Geologist with over 22 years’ post-PhD • Accountant and fo
Slide 5: Corporate Strategy
OVERVIEW PROJECTS SUMMARY APPENDICES CORPORATE STRATEGY PROJECT FOCUS 2025 to 2026 Main Priority Zambia (Cu, Ag, Zn, Co) Advancing our Flagship Project (Mushima North) - currently working towards a JORC-compliant Exploration Target → maiden MRE in late 2026. Joint Ventures advancing projects (Konkol
Slide 6: Project Overview - Zambia
OVERVIEW OVERVIEW PROJECTS PROJECTS SUMMARY SUMMARY APPENDICES APPENDICES PROJECT OVERVIEW - Zambia Cu, Ag, Zn, Co • 5 projects held directly or through local JV partnership. • Key locations in Zambia: Copperbelt, Domes Region, IOCG Region. • Targeting: Cu, Co, Au, Ag (Sedimentary copper & IOCG). •
Slide 7: Project Overview - USA
OVERVIEW PROJECTS SUMMARY APPENDICES PROJECT OVERVIEW - USA NEVADA (Cu, Au, Ag) • 4 projects held directly. • Targeting: Cu, Au, Ag (epithermal, skarn & porphyry). 2 projects within Walker Lane belt. • Drill ready or early drilling stage. • Prolific mining jurisdiction: World-class gold district wit
Slide 8: Project Overview - Sweden
OVERVIEW PROJECTS SUMMARY APPENDICES PROJECT OVERVIEW - Sweden SWEDEN (F) • 1 project: Storuman Fluorspar Project. • Advanced stage: MRE & Scoping Study completed. • Mining Permit currently in appeal. • Positive EU legislation: Potential for improved local mining support. www.tertiaryminerals.com in
Slide 9: Mushima North Project
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH PROJECT ZAMBIAN IOCG REGION COMMODITY: Copper, Zinc, Silver OWNERSHIP: 90% LICENCE : 27068-HQ-LEL, ~350km2 STAGE: Limited (shallow) drilling completed (~2,871m in total) Currently working towards a JORC Exploration Target. GEOLOGY: Metasediments (sa
Slide 10: Konkola West Project
OVERVIEW PROJECTS SUMMARY APPENDICES KONKOLA WEST PROJECT ZAMBIAN COPPERBELT COMMODITY: Copper OWNERSHIP: 96% LICENCE SIZE: 27067-HQ-LEL, 35.7km2 STAGE: Drilling (on-going) GEOLOGY: Potentially part of the Konkola mineralised complex & southern part of the Kirla Bombwe anticline. KEY FEATURES: • JV
Slide 11: Mukai Project
OVERVIEW PROJECTS SUMMARY APPENDICES MUKAI PROJECT ZAMBIAN COPPERBELT COMMODITY: Copper OWNERSHIP: 90% LICENCE SIZE: 27066-HQ-LEL, 27.7km2 STAGE: Initial drilling (on-going) GEOLOGY: Northwestern end of the Tirosa basin, targeting Lower Roan near surface. KEY FEATURES: • JV with FQM. • Right geology
Slide 12: Jacks Project
OVERVIEW PROJECTS SUMMARY APPENDICES JACKS PROJECT ZAMBIAN COPPER BELT COMMODITY: Copper OWNERSHIP: 90% LICENCE SIZE: 27069-HQ-LEL, 70.6km2 STAGE: Initial drilling GEOLOGY: Lower and Upper Roan within large synformal structure. Possible fault bounded along southern margin. KEY FEATURES: • Shallow, n
Slide 13: Mupala Project
OVERVIEW PROJECTS SUMMARY APPENDICES MUPALA PROJECT ZAMBIAN COPPERBELT COMMODITY: Copper OWNERSHIP: 100% LICENCE SIZE: 32139-HQ-LEL, 41km2 STAGE: Early-stage exploration GEOLOGY: Lower & Upper Roan on margin of large domal structure. Cross-cutting NW-SE faults. KEY FEATURES: • Right geology: Targeti
Slide 14: Brunton Pass Project
OVERVIEW PROJECTS SUMMARY APPENDICES BRUNTON PASS PROJECT COPPER, NEVADA COMMODITY: Copper OWNERSHIP: 100% LICENCE SIZE: 2.0km2 STAGE: Initial scout drilling completed GEOLOGY: Triassic-aged carbonate & clastic sediments overlying/intruded by granitoid & exposed within a ‘window’ through the overlyi
Slide 15: Storuman Project
OVERVIEW PROJECTS SUMMARY APPENDICES STORUMAN PROJECT FLUORSPAR, SWEDEN COMMODITY: Fluorspar OWNERSHIP: 100% LICENCE SIZE: 1.8km2 STAGE: Scoping Study. Mining Permit currently under review JORC MRE: 25.0 Mt @ 10.26% CaF2. 2.7 Mt @ 9.87% CaF2. • Good infrastructure: Good road network, rail line <25km
Slide 16: Next Steps
OVERVIEW PROJECTS SUMMARY APPENDICES NEXT STEPS MULTIPLE UPSIDE MILESTONES • Zambia • Mushima North: Continued news flow. Assay results from Phase 3 Continuation of mineralogical work JORC- compliant Exploration Target Further Drilling Working towards Maiden MRE. • Kobold: Formation of Joint Venture
Slide 17: Project Timeline
OVERVIEW PROJECTS SUMMARY APPENDICES PROJECT TIMELINE MULTIPLE UPSIDE MILESTONES PROJECT 2025 2026 Q3 Q4 Q1 Q2 Q3 Q4 Drilling Drilling Assay Drilling Drilling Assay Exploration Target MUSHIMA NORTH Results Results Drilling Results JV Establishment Drilling/Assay Results? Drilling/Assay Results? KONK
Slide 18: Key Takeaways
OVERVIEW PROJECTS SUMMARY APPENDICES KEY TAKEAWAYS WHY INVEST? STRONG PROJECT PORTFOLIO: Attractive portfolio of projects covering key commodities in the right jurisdictions. EXPERIENCED TECHNICAL TEAM: Significant technical & corporate experience within the junior exploration sector. Proven ability
Slide 19: Tertiary Minerals plc contact details
Tertiary Minerals plc Queens Avenue Macclesfield Cheshire SK10 2BB United Kingdom Tel: +44 (0)1625 838 679 info@tertiaryminerals.com www.tertiaryminerals.com Drilling on the Konkola West Project, Zambia Additional information in Appendices below
Slide 20: Corporate Snapshot
OVERVIEW PROJECTS SUMMARY APPENDICES CORPORATE SNAPSHOT LISTING AIM: TYM ISSUED SHARES 5,116,855,727 Tertiary Minerals WARRANTS/OPTIONS 108,792,308 plc AS OF 01 DECEMBER 2025: SHARE PRICE GB£ 0.0475 MARKET GB£ 2.45M CAPITALISATION 100% 100% 96% Tertiary Minerals US Tertiary Minerals Tertiary Gold Li
Slide 21: Why Zambia?
OVERVIEW PROJECTS SUMMARY APPENDICES WHY ZAMBIA? ZAMBIA IS A MINING POWERHOUSE WITH WORLD-CLASS COPPEREBELT • Major mining jurisdiction: >100 years of mining, forms the cornerstone to the Zambian economy. • Increase Production: From 0.7 Mt (2023) to >3 Mt by 2032. • Attracting Investment: Improvemen
Slide 22: The Copper Problem
OVERVIEW PROJECTS SUMMARY APPENDICES THE COPPER PROBLEM INSUFFICIENT SUPPLY TO MEET PROJECTED DEMAND, EVEN WITH PROJECTED NEW MINE DEVELOPMENTS Wood Mackenzie’s Accelerated Energy Transition 2 (AET-2) demand scenario is based on a combination of global policy drivers and technical innovation conside
Slide 23: Copper - The No.1 Clean Energy Transition Metal
OVERVIEW PROJECTS SUMMARY APPENDICES COPPER - THE NO.1 CLEAN ENERGY TRANSITION METAL www.tertiaryminerals.com info@tertiaryminerals.com AIM: TYM 23
Slide 24: Mushima North Summary
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH SUMMARY ACTIVITY DETAILS Geological Mapping Historic reconnaissance mapping. Regional survey interpretation (RCM, 1970s). Detailed mapping Mukundushi area (African Minerals Ltd, 1990s) Geochemistry Musondweji soil geochemical survey (Cu, Pb, Zn, Co,
Slide 25: Mushima North Historic Data
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH HISTORIC DATA Various exploration campaigns in the surrounding area included parts of Mushima North: • Focused around the small, high-grade Kalengwa copper-silver mine (4 million tons @ 5.2% Cu, 40 g/t Ag produced), located ~20 km to the west of the
Slide 26: Mushima North Target Overview
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH TARGET OVERVIEW TARGETS: • A1: Geology/Geochemistry: 3.1 by 1.6km Cu- (>80ppm, up to 280ppm), 1.7 by 0.5km Zn-, 1.3 by 0.3km Ag-in-soil anomaly. Near granite margin, extensive iron-enrich units (ferruginous conglomerates and ironstone). • A2: Geolog
Slide 27: Mushima North Target A1: Phase and Drilling
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH TARGET A1: PHASE 1 & 2 DRILLING • Calculated intersections (down hole, true width unknown) are weighted averages based on silver, using a cut-off grade of 10 g/t Ag with up to 3m internal dilution. • Silver values rounded to whole numbers. • “gramme
Slide 28: Mushima North Project Update
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH PROJECT UPDATE 28
Slide 29: Mushima North Target C1: Drilling
OVERVIEW PROJECTS SUMMARY APPENDICES MUSHIMA NORTH TARGET C1: DRILLING • RKN800 on margin of the gravity anomaly recently resampled: • 33m grading 0.24% copper from 122m-155m downhole. • Hole ended in mineralisation grading 0.19% copper from 154-155m (EOH). • 7 AC holes targeting the Cu-in-soil anom
Slide 30: Jacks Project Summary
OVERVIEW PROJECTS SUMMARY APPENDICES JACKS PROJECT SUMMARY WORK PROGRAMMES DETAILS Geological Mapping Historic Regional Mapping Geochemistry Regional soil geochemistry, 500 by 500m off-set grid, ME analysis (First Quantum Minerals, 2010s). Eastern part of the licence: 1,000m by 100m grid, Cu only (C
Slide 31: Jacks Project Historic Data
OVERVIEW PROJECTS SUMMARY APPENDICES JACKS PROJECT HISTORIC DATA • Historic soil data (FQM) available over the project. • Indicates elevated Cu & Cu/Sc ratio. • Re-interpretation improved the understanding of the local geology. • Historic drilling targeting the “fold nose” and northern limb. • Resul
Slide 32: Jacks Project Initial Drilling
OVERVIEW PROJECTS SUMMARY APPENDICES JACKS PROJECT INIITAL DRILLING • Aim of the initial drilling was to confirm historic drill results (drilling by Cyprus Amax- holes with prefix “KJ”). • Highlights include: • 13.5m @ 0.9% Cu from 77.5m (22JKDD01). • 6m @ 1.8% Cu from 105m (22JKDD03). Interval Hole
Slide 33: Mukai Project Summary
OVERVIEW PROJECTS SUMMARY APPENDICES MUKAI PROJECT SUMMARY WORK PROGRAMMES DETAILS Geological Mapping Regional Historic Map. Local interpreted map for Trident project area & Tirosa basin Geochemistry Regional soil sampling (FQM) around project area Regional sampling undertaken by Sunmine (limited in
Slide 34: Mukai Project Summary
OVERVIEW PROJECTS SUMMARY APPENDICES MUKAI PROJECT SUMMARY • Mukai Project is located centrally between: • FQM’s Trident Project (Sentinel Copper Mine & Enterprise Nickel Mine). • Arc Minerals/Anglo American JV, where Anglo American has the right to earn 70% for US$88.5M. • Contains same prospective
Slide 35: Konkola West Project Summary
OVERVIEW PROJECTS SUMMARY APPENDICES KONKOLA WEST PROJECT SUMMARY WORK PROGRAMMES DETAILS Geological Mapping Regional Geological Map; 1:250,000 interpretative maps (SRK Consulting). Interpretative academic research Geochemistry None Geophysics Historic regional airborne surveys Seismic lines over Lu
Slide 36: Konkola West Project Summary
OVERVIEW PROJECTS SUMMARY APPENDICES KONKOLA WEST PROJECT SUMMARY Konkola-Lubambe-Musoshi ore deposits Mingomba Deposit: “Expected to be one of the top Pre-mining endowment: >775million tons @ three high grade copper deposits in the world” 2-3% copper KoBold Metals Vedanta has committed US$1 billion
Slide 37: Mupala Project
OVERVIEW PROJECTS SUMMARY APPENDICES MUPALA PROJECT WORK PROGRAMMES DETAILS Geological Mapping Regional Historic Map Geochemistry Historic hand auger (RST) 684 samples, 300 by 300m off-set grid covering entire licence Geophysics Regional MAG data (FQM) Drilling None Note: Programmes in bold italics
Slide 38: Mupala Project Exploration So Far
OVERVIEW PROJECTS SUMMARY APPENDICES MUPALA PROJECT EXPLORATION SO FAR • Licence wide soils on a 300 by 300m grid. • Cu-in-soil anomaly 1.8km by 0.6km (up to 422 ppm Cu). Conforms to historic and auger sampling. • Structural control: Anomaly spatially associated with NW-SE cross-cutting fault from r
Slide 39: Why Nevada?
OVERVIEW PROJECTS SUMMARY APPENDICES WHY NEVADA? • Ranked highly in the world as a mining jurisdiction by the Frazer Institute. • Major gold and silver producer. • Significant copper and industrial mineral production. • Majority of land is Federally owned and open to claim staking. • Well defined an
Slide 40: Brunton Pass Project Summary
OVERVIEW PROJECTS SUMMARY APPENDICES BRUNTON PASS PROJECT SUMMARY WORK PROGRAMMES DETAILS Geological Mapping Regional maps and interpretation Geochemistry 47 rock chip samples (2020-2022) 485 soil samples (100m off-set grid, with 50m by 100m infill) Geophysics IP survey (4 profiles 100m spaced, for
Slide 41: Brunton Pass Project
OVERVIEW PROJECTS SUMMARY APPENDICES BRUNTON PASS PROJECT Cu, NEVADA • An Induced Polarisation (IP)/Resistivity survey was carried out in spring 2024. • Copper mineralisation spread over a 1km by • Distinctive IP anomaly identified on all 0.6km target area. sections (over 700m strike ) below and • S
Slide 42: Storuman Project
OVERVIEW PROJECTS SUMMARY APPENDICES STORUMAN PROJECT FLUORSPAR, SWEDEN • Fluorspar is a critical mineral in US, EU and Australia, an industrial source of fluorine chemicals: • increasing use in electric vehicle batteries in cathodes, cells and electrolytes. • used to process silicon in solar cells.
Slide 43: Storuman Project
OVERVIEW PROJECTS SUMMARY APPENDICES STORUMAN PROJECT FLUORSPAR, SWEDEN www.tertiaryminerals.com info@tertiaryminerals.com AIM: TYM 43
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