Caspin Resources Ltd. · ASX:CPN
Caspin Resources — Shareholder Meeting (November 2025)
23 slides from Caspin Resources's shareholder meeting presentation, Nov 25, 2025
Slide 1: Annual General Meeting
For personal use only ANNUAL GENERAL MEETING CASPIN RESOURCES (ASX: CPN) GREG MILES, Managing Director 25 November 2025 A grey globe with black background Icon A white and black logo AI-generated content may be incorrect. Description automatically generated AI-generated content may be incorrect. www
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: Highlights of the year
Highlights of the year Building momentum through 2025 and a strong foundation for success in 2026 For personal use only Maiden Kelpie Option to earn $4.6M capital Resource up to 80% of the raising with Estimate of Weethalle Gold strong 3.94Mt @ Project, NSW institutional Exercising the Excellent 0.5
Slide 4: Corporate Overview
CORPORATE OVERVIEW Successful exploration, corporate and capital markets team CPN – ASX Share Performance (6 months) LEADERSHIP TEAM $0.18 4,000,000 Volume Close $ 3,600,000 For personal use only $0.16 $0.14 3,200,000 2,800,000 $0.12 2,400,000 $0.10 2,000,000 $0.08 1,600,000 $0.06 1,200,000 $0.04 80
Slide 5: Tin Demand
Tin Demand Metals most likely to be impacted by new technology • Rio Tinto commissioned Massachusetts Institute of Technology (MIT) to survey new technologies and compile a list of For personal use only metals required to meet the evolving demand with new technology. • Demand evidenced by rapidly gr
Slide 6: Tin Supply
Tin Supply Very delicately balanced market • Recent supply disruptions: For personal use only Civil war in DRC affecting the Bisie Mine Closure and delayed re-start of Man Maw in Myanmar Indonesia clamp down on illegal mining • Limited significant new project developments 6
Slide 7: 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 • 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 un
Slide 8: 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 9: 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 10: 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 11: 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 12: 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 13: Kelpie – A Significant Australian Tin Project
Kelpie – A Significant Australian Tin Project 1 7 For personal use only 1. Peer group represents all ASX listed companies with Kelpie is an 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. SKY ASX Announcement 23 Janu
Slide 14: Weethalle Gold Project Option
For personal use only WEETHALLE GOLD PROJECT OPTION Low-cost exposure to large scale IRGS target 14
Slide 15: 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, large-scale For personal use only Intrusive Related Gold target New, 2,000m long geophysical and geochemical target, <200m below surface
Slide 16: Weethalle: Regional Structural Setting Similar to Hemi
Weethalle: Regional Structural Setting Similar to Hemi An exceptional discovery-stage gold project with large scale potential For personal use only Hemi (rotated) Weethalle • Weethalle Granite a unique circular feature within the Cobar-Wagga Tectonic Zone – similar geometry and size to 12Moz Hemi De
Slide 17: 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 18: Induced Polarisation Anomaly
Induced Polarisation Anomaly Euratha Mine Section • Modest IP anomaly associated with the Euratha Mine • But – better anomaly at depth! For personal use only • And – stronger, larger anomaly to the southeast! 15x background • 2km combined strike of IP anomalism – Never drill tested! • Note – granite
Slide 19: Coincident IRGS Geochemical Signature
Coincident IRGS Geochemical Signature Strong correlation between geochemistry and IP anomalies • Pathfinder anomalies (As, W, Pb) For personal use only for gold and silver. Very high correlation • Bulk of anomalism to the southeast of Euratha workings, coincident with IP anomalies • Approximately 2k
Slide 20: Site Visit
Site Visit Directors & Exploration team onsite at Weethalle Project, October 2025 For personal use only z 20
Slide 21: Exploration Underway
Exploration Underway Multiple independent datasets pointing to a large mineral system For personal use only Option Period Work Program: • Land access agreements in place • Environmental permitting received • First phase drilling targeting IP and geochem anomalies • Second phase step-outs from initia
Slide 22: 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 A rare investment opportunity on the ASX and western world, with very strong long-term fundamentals For personal use only
Slide 23: 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 A grey globe with black background Icon A white and black logo FOLLOW US: AI-generated content may be incorrect. Description automatica
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