Pivotal Metals Limited · ASX:PVT
Pivotal Metals — Investor Presentation (April 2025)
27 slides from Pivotal Metals's investor presentation, Apr 3, 2025
Slide 1: Investor Presentation April 2025
For personal use only PIVOTAL METALS LTD BUILDING A COPPER Investor Presentation BUSINESS IN THE WORLDS BEST MINING ASX:PVT JURISDICTION April 2025
Slide 2: Disclaimers
Disclaimers For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe
Slide 3: Investment Highlights
Investment Highlights For personal use only Quality Cu-Ni-PGM Copper Focus Horden Lake Universally Bullish Outlook for Copper Advanced Cu-Ni-PGM: +200kt Cu1 / +400kt CuEq Demand case is very robust. Big questions on supply. Majority in-pit. Substantial exploration upside. Lack of credible advanced p
Slide 4: Project Highlights
Project Highlights Quality base with exciting exploration leverage For personal use only Horden Lake 100% PVT Large metal endowment. Over 200kt Cu1 / 400kt CuEq James Bay Robust grade 28mt1 @ 0.73% Cu (1.5% CuEq) incl. in-pit 17mt @ 1.38% CuEq Low risk exploration upside. Drilling has expanded miner
Slide 5: Quebec – Premier Mining Jurisdiction
Quebec – Premier Mining Jurisdiction With tangible investment incentives For personal use only ‘Flow-through scheme’ tax incentives Quebec has the highest tax credit in Canada for critical metals exploration Up to 2x leverage on money raised, without structural overhang Access to low-cost renewable
Slide 6: Copper
Copper Strong supply / demand fundamentals set For personal use only Copper demand growth remains strong Project discovery at all-time lows Shifts to electrification builds on huge industrial demand case Geological return on exploration spend is at all-time lows from developing world Unknown supply
Slide 7: Horden Lake
For personal use only Horden Lake • Advanced Cu-Ni-PGM Project • Already 28Mt1 @ 0.73% Cu / 1.5% CuEq • Substantial Exploration Upside The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material
Slide 8: Horden Lake
Horden Lake Asset of scale with upside being unlocked For personal use only 2022 MRE1: 27.8 mt @ 1.49 % CuEq ✓ Cu 0.73%, Ni 0.22%, 0.19 g/t Pd, 0.08 g/t Au ✓ 200kt Cu contained, ~400kt CuEq Immediate Exploration Focus Area ✓ 55% indicated category (Drilling + EM) ✓ 17.4mt @ 1.38% CuEq in open pit sh
Slide 9: Step-outs and DHEM delivered in 2024
Step-outs and DHEM delivered in 2024 Substantial exploration upside defined For personal use only Step-out drilling shows continuity and in places thickening of the deposit Clear extensions of economic grade and strong resource upside potential Refer ASX announcement, 2 October 2024 9
Slide 10: FLTEM Shows Major Scale Potential
FLTEM Shows Major Scale Potential Undrilled targets, up to 1200m down-plunge extent For personal use only A 39m @ 0.97% CuEq (145m) Inc incl.19.7m @ 1.41% CuEq 32m @ 1.2% CuEq (264m) incl. 14.2m @ 1.78% CuEq Limit of 2022 MRE (320m down-plunge) Limit of 2024 DHEM plates (540m down-plunge) 2024 FLTEM
Slide 11: 2025 Drilling
2025 Drilling Priority near-term open pit extension potential For personal use only HN-24-108 H33235 HOR-13-02 Step-out Drilling Complete - ASSAYS PENDING 3.2m @ 1.06% CuEq 47.5m @ 0.59% CuEq 23.7m @ 1.24% CuEq from 180m from 145.2m (Cu+Ni only) from 33.4m ✓ 1,557m drilled in Q1 2025 ✓ Focus on shal
Slide 12: Regional Potential
Regional Potential To make additional discoveries For personal use only Magnetics demonstrate scale opportunity ✓ Clear extensions along strike ✓ Repeating of structure to the west ✓ No, or limited / misplaced, drilling of the key areas for regional growth Pivotal drilled first hole ever into Wester
Slide 13: Byproduct Upside
Byproduct Upside Valuable byproducts understated in 2022 MRE For personal use only Infill delivering missing data for metal upside ✓ Grade understated in current resource ✓ Cu and Ni only in historical drilling 37.5m @ 1.31% CuEq from 50m By-products: 0.3 g/t 3PGE, 180ppm Co, 7.2g/t Ag ✓ Proven Au,
Slide 14: Metallurgical Testwork
Metallurgical Testwork Shows attractive NSR potential from conventional flowsheet For personal use only Conventional Floatation Flowsheet Copper is the dominant economic driver ✓ 87-94% Cu total recovery shown in open and closed tests ✓ Low cost and complexity ✓ High grade concentrate, with substant
Slide 15: Development Considerations
Development Considerations Conventional project with realistic development hurdles For personal use only 17mt1 @ 1.39% CuEq is pit constrained Paved highway within 10km ✓ Low-cost open pit front-end starter, and growing ✓ Simplifies exploration ✓ Significant underground upside potential ✓ Reduces de
Slide 16: Case Study: Foran Mining
Case Study: Foran Mining Traded at ‘option value’ at market nadir. Outsized returns without a “new discovery”. For personal use only 58x Peak-to-Trough C$/share C$0.08/sh Equity Return C$4.61/sh US$/lb Cu $5.00 C$10.5m C$1.8B 5.00 $4.00 4.40 $3.00 3.80 $2.00 3.20 $1.00 2.60 Foran (TSX:FOM) Cu Price
Slide 17: BAGB
For personal use only BAGB • Belleterre-Angliers Greenstone Belt • Exploration stage • Advanced prospects with bonanza grades evident LORRAINE • Targeting anomalies of scale 17
Slide 18: BAGB: Ultra high-grade mineralisation defined
BAGB Ultra high-grade mineralisation defined For personal use only • 157km2 greenstone belt package with prospective suite of gabbroic intrusives in southern Quebec • Multiple deposits with bonanza grade Cu-Ni-PGE and Au intersections • Historical mining of one deposit • BUT, previous operators kept
Slide 19: BAGB: Midrim and Alotta
BAGB Midrim and Alotta – smoke from a very a big fire? For personal use only Alotta 9.2m @ 2.6% Ni, 2.8% Cu, 3.6 g/t 3E from 85.2m in ZA-18-08 Midrim 4.3m @ 6.5% Ni, 5.2% Cu, 7.2g/t 3E from 57.2m in MR-00-05 9.4m @ 3.5% Ni, 4.3% Cu, 4.6 g/t 3E from 56.6m in MR-17-01 • Mafic contact deposit model • E
Slide 20: Consistent News-Flow
Consistent News-Flow To continue through 2025 For personal use only Building Resources • Step-out results building tonnes. Assays pending. 0-6 • Infill building grade and increasing confidence months • Resource update Expanding Footprint • Drilling EM targets showing growth potential ` 3-9 • BAGB ta
Slide 21: Investment Highlights
Investment Highlights For personal use only Copper Value is Exploration Premier Near term leverage underpinned engine jurisdiction re-rate catalysts Clear deficits Large Cu and Ni Clear path to Quebec is skills and HL drilling, resource forecast, driven by endowment in improve and grow infrastructur
Slide 22: Appendix
For personal use only Appendix
Slide 23: Corporate Overview
Corporate Overview Committed board, management and shareholders Vol (m) For personal use only Ivan Fairhall, Managing Director $0.03 10 ▪ Chartered engineer, finance and capital markets professional with 20 years of mining experience. 9 ▪ Previously CEO of a TSX listed Mawson Gold, which spun out So
Slide 24: Geological Setting – Horden Lake Deposit
Geological Setting – Horden Lake Deposit Strong structural control for mineralisation For personal use only ✓ Mineralisation style supports good potential for resource extension ✓ Magmatic sulphide deposit associated with mafic and ultramafic rocks ✓ Mineralisation occurs along the contact of the ga
Slide 25: 2022 JORC Compliant Minerals Resource Estimate
Appendix 2022 JORC Compliant Minerals Resource Estimate For personal use only Grade Contained Metal Category Tonnes CuEq (%) Cu (%) Ni (%) Au (g/t) Pd (g/t) CuEq (kt) Cu (kt) Ni (kt) Au (koz) Pd (koz) Indicated 15.2 1.50 0.77 0.20 0.13 0.19 228.6 117.6 30.5 59.4 91.3 Inferred 12.5 1.47 0.67 0.25 0.0
Slide 26: Supporting information: Foran Mining
Appendix Supporting information For personal use only Foran Mining 2019 Resource - Filed 10 July 2019 2021 Resource - Filed 25 October 2021 Resource Mt Cu (%) Zn (%) Pb (%) Au (g/t) Ag (g/t) Resource Mt Cu (%) Zn (%) Pb (%) Au (g/t) Ag (g/t) M&I 22.3 1.2 3 0.2 0.44 17 M&I 39 1.2 2.2 0.15 0.4 14 Infe
Slide 27: Pivotal Metals Limited
For personal use only Pivotal Metals Limited ABN 49 623 130 987 Level 8, 1 Eagle Street Brisbane QLD 4000 GPO Box 2517 WA 6831 T: +61 8 9481 0389 E: info@pivotalmetals.com W: www.pivotalmetals.com 27