Black Bear Minerals Limited · ASX:BKB
Black Bear Minerals — RRS Gold Coast Conference (September 2026)
14 slides from Black Bear Minerals's conference presentation, September 2026
Slide 1: Black Bear Minerals Investor Walkthrough
Black Bear Minerals Investor Walkthrough ASX CODE: BKB OTCQX CODE: BKBMF September 2026
Slide 2: Important Information
Important Information DISCLAIMER & CAUTIONARY STATEMENTS This Presentation has been prepared by Black Bear Minerals Limited (Company) based on information from its own and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgem
Slide 3: Black Bear Minerals Corporate Summary and Highlights
Black Bear Minerals Corporate Summary and Highlights SHAFTER — TEXAS INDEPENDENCE — NEVADA Shafter Silver Independence Gold Presidio County, USA Lander County, USA 17.6 Moz Ag 2.2 Moz AuEq foreign resource @ 289 g/t Ag¹ MRE² — 1.0 Moz skarn @ 6.29 g/t + 1.2 Moz epithermal CAPITAL STRUCTURE ASX: BKB
Slide 4: Our Team
Our Team Board of Directors & Advisors Matthew Hayes Dennis Lindgren Judy Baker Dean Ercegovic Andrew Dornan Executive Chair CEO Non-Executive Director Non-Executive Director Corporate Consultant Co-Founder ASX:JBY & SS1. Former Global Director of CEO and President of Argo NED ASX: SS1 & BSR. Co-Fou
Slide 5: Shafter Project, Texas – High grade silver on U.S. soil
Shafter Project, Texas – High grade silver on U.S. soil • Private land in Presidio County, Texas, supported by nearby Marfa and Presidio • Mexican-style silver on U.S. soil, world-class grades in a premier mining jurisdiction • Highly competitive fiscal regime 0% private-land royalty and 20% corpora
Slide 6: Resource underpinned by infrastructure & restart pathway
Resource underpinned by infrastructure & restart pathway Operationally near production ~A$150M existing infrastructure Open mineralisation • All major permits in place • Partial Refinery (dilapidation study) • Mineralisation open at depth • Continuous high-grade orebodies • Assay laboratory and ware
Slide 7: Drilling supporting resource conversion, growth and upside
Drilling supporting resource conversion, growth and upside 1.89Mt @ 289g/t for 17.6Moz Ag SYSTEM High-grade carbonate-hosted manto STRIKE ~4km, up to 450m wide COMMODITY Pure silver, mineralisation outside MRE, polymetallic untested • Significant historic drill intercepts incl. 24.8m @ 638g/t Ag, in
Slide 8: Independence Project - Nevada's Premier Gold Address
Independence Project - Nevada's Premier Gold Address Nevada: premier gold jurisdiction Directly adjacent to NGM's Phoenix complex • Top-3 mining jurisdiction for 10 years (Fraser Institute) • ~75% of US gold output; deep capability and workforce • Heap leach analogues: Phoenix 0.32g/t, Marigold 0.17
Slide 9: 2.2Moz AuEq 2026 MRE with further growth potential
2.2Moz AuEq 2026 MRE with further growth potential 1.0Moz 1.2Moz 2.2Moz AuEq = HIGH-GRADE SKARN + EPITHERMAL @ 0.42g/t COMBINED MRE AuEq @ 6.29g/t Au • Two distinct, stacked mineralization styles; epithermal blanket directly above high-grade skarn • Near-surface mineralisation is amenable to convent
Slide 10: Strong scoping study on fraction of resource
Strong scoping study on fraction of resource Metric Base case Range / note Post-tax NPV₅ A$511 m A$430–590 m Post-tax IRR 64% 55–74% Payback 1.4 yrs From first production Initial capital A$119 m +A$8 m working capital Base case US$4,285/oz Au · US$65/oz Ag · A$1.00 = US$0.70 Open-pit contract mining
Slide 11: Advancing two strategic U.S. assets toward development
BKB - Advancing two strategic U.S. assets toward development SHAFTER INDEPENDENCE CATALYSTS UNDERWAY NOW CATALYSTS UNDERWAY NOW Exploration underway, with maiden underground campaign Extensional drilling North (Rebel) and South epithermal JORC resource upgrade in progress Skarn growth drilling north
Slide 12: Contact Information Investor Relations
CONTACT INFORMATION INVESTOR RELATIONS Dennis Lindgren Nicholas Read CEO Read Corporate Black Bear Minerals Phone: (08) 9388 1474 www.blackbearminerals.com.au Email: nicholas@readcorporate.com.au
Slide 13: Appendix A – Independence Mineral Resource
Appendix A – Independence Mineral Resource Table 1: May 2026 Skarn Inferred Resource Estimate Summary Skarn Mineral Resource Estimate Cut-off (g/t) Tonnes Au Grade (g/t) Au Ounces 3.2 4,958,400 6.29 1,002,500 Table 2: May 2026 Epithermal Indicated and Inferred Resource Estimate Summary Epithermal Mi
Slide 14: Appendix B – Shafter Mineral Resource
Appendix B – Shafter Mineral Resource Table 1: Shafter NI 43-101 Resource Estimate (2015) Classification Cut-Off (Ag g/t) Tonnes (Mt) Grade (Ag g/t) Ag Ounces (Moz) Measured 137 0.09 299 0.89 Indicated 137 1.01 314 10.17 Inferred 137 0.79 256 6.51 Total 137 1.89 289 17.57 • The existing Foreign MRE
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