Boa Resources Limited · ASX:BOA
Boa Resources — Merger or Acquisition (November 2025)
22 slides from Boa Resources's merger presentation, Nov 27, 2025
Slide 1: Transformational acquisition of WA copper assets
Transformational acquisition of WA copper assets November 2025
Slide 2: BOA expands critical minerals portfolio with entry into Murchison Copper Belt, WA
BOA expands critical minerals portfolio with entry into Murchison Copper Belt, WA – BOA acquires 49% interest in 13 exploration tenements at the Neds Creek Project, with exclusive option to acquire remaining 51% – Strategically located near Sandfire’s De Grussa and Monty copper-gold mines and Thadun
Slide 3: Neds Creek exploration: Drill-ready targets identified
Neds Creek exploration: Drill-ready targets identified Multiple prospects Targeting sediment hosted structurally controlled epigenetic copper mineralisation, drill ready targets Extensive pipeline Prospects at various exploration stages Ricci Lee prospectF7 Green Dragon ML – Advanced exploration tar
Slide 4: Thaduna Formation: Ricci Lee Prospect
Thaduna Formation: Ricci Lee Prospect Cu – Historic small-scale copper oxide mine – Analogue to the Thaduna Copper Deposit (5.5Mt at 2.2% Cu for 119kt Cu and 829koz AgF1), sub-parallel and 2km to the southwest, hosted in the same stratigraphy – Copper mineralisation with 500m strike and 200m depth d
Slide 5: Ricci Lee Prospect vs Thaduna Deposit
Legend Ricci Lee Cu Ricci Lee Prospect vs >3% Cu long section Thaduna Deposit 1.25% – 3% Cu <1.25% Cu with copper intercepts – Comparison of Ricci Lee drilling results and Thaduna ResourceF2 in cross section and at equal scale – Ricci Lee 2kms SW of Thaduna – Thaduna mineralisation and scale used as
Slide 6: Thaduna Formation: Ricci Lee Prospect
Thaduna Formation: Ricci Lee Prospect Cu – Mineralisation identified West East from RAB drill testing of N historic workings 2007 – Significant high-grade Thaduna mineralisation defined by Deposit 8 RC holes 2010 – 2013F3 – No follow up drilling undertaken – Up dip and down dip potential to be teste
Slide 7: Thaduna Formation: Other prospects
Thaduna Formation: Other prospects Cu – Multiple targets identified for drilling – Analogous to Thaduna and Green Dragon – sediment hosted, fault controlled epigenetic copper mineralisation Green Dragon NE Rooneys N – Along strike from Thaduna and Green Dragon Green Dragon Rooneys Green Dragon E dep
Slide 8: Johnson-Cairn Formation: Enigma Prospect
Johnson-Cairn Formation: Enigma Prospect Cu – Part of the Neds Creek Project, drilled and copper discovered by Sipa N Resources 2012-2014F7 – Initial drilling defined a large-scale copper mineralisation footprint characterised as a shallow, laterally extensive copper oxide blanket Enigma over an are
Slide 9: BOA: Building a copper resource and growth for 2026
BOA: Building a copper resource and growth for 2026 – BOA expanding its critical minerals focus to include high potential copper projects in WA – 13 Exploration tenements1 covering 1,140km2 – Nine high-priority targets identified, including the advanced Ricci Lee prospect – Ricci Lee designated as t
Slide 10: Transaction summary
Transaction summary BOA acquires BOA to issue 14% BOA has the BOA will immediately BOA will raise 49% interest in scrip as consideration experience in commence planning $3.75M via a 13 exploration and carry Stanifer Board and for resource definition placement tenements through through next $500K man
Slide 11: Drilling to drive resource definition and newsflow
Drilling to drive resource definition and newsflow Commence target mapping Complete target mapping and prospect ranking Resource and prospect ranking definition Drill planning Commence resource and exploration drilling at Ricci Lee Q4 2025 Q1 2026 Q2 2026 Q3 2026 Complete Execute heritage Regular ne
Slide 12: Leadership team with discovery and development experience
Leadership team with discovery and development experience Board and team with extensive experience in capital markets, resource exploration and discovery and growing shareholder value. Cath Norman Graeme Purcell Mark Tomlinson David Reid Chair, Managing Director Director Director Exploration Manager
Slide 13: Key transaction metrics
Key transaction metrics Capital structure Shares Options Cash2 6% Shares on issue before transaction 123,352,847 27,033,723 $565,000 Consideration shares 17,269,399 - - 42% Placement1 150,000,000 5,000,000 $3,750,000 Post-transaction share ownership Total3 290,622,246 32,033,723 $4,315,000 52% CVA P
Slide 14: Planned BOA projects expenditure
Planned BOA projects expenditure Item Cost Drilling $1,500,000 Heritage surveys $80,000 Exploration studies/geophysics $200,000 Tenement costs $150,000 Geological support $260,000 Total $2,190,000 Focus on resource definition drilling ASX: BOA 14
Slide 15: Use of funds
Use of funds Item Cost Projects expenditure $2,190,000 Corporate administration $805,000 Estimated cost of transaction1 $255,000 Working capital / upside drilling $1,065,000 Total $4,315,000 73% of budget spent in ground 1. Estimated costs of the transaction including legal costs, registry and settl
Slide 16: Timetable
Timetable Event Date ASX announcement of the Proposed Transactions 27 November 2025 Sandfire Send Notice of Meeting 1 December 2025 BOA Funds Shareholder meeting 12 January 2026 Other Completion of Proposed Transaction 14 January 2026 Building Australia’s next significant copper resource ASX: BOA 16
Slide 17: Disclaimer
Disclaimer Forward Looking Statements JORC Compliance Statement This presentation is not an offer for financial products in any jurisdiction or a financial Footnotes: product recommendation. The information in this presentation is an overview and does F1 As reported to the ASX by Sandfire Resources
Slide 18: Contact us
Contact us Cath Norman Nathan Ryan Chair, Managing Director Investor Relations info@boaresources.com cnorman@boaresources.com nathan.ryan@nwrcommunications.com.au boaresources.com © BOA Resources Limited ACN 149 582 687
Slide 19: Supporting slides
Supporting slides 19
Slide 20: Stanifer Pty Ltd tenement holdings
Stanifer Pty Ltd tenement holdings Area Name Tenement Status1 Registered Holder Neds Creek E52/4287 PENDING2 STANIFER PTY LTD Springfield E52/4331 PENDING STANIFER PTY LTD Neds Creek E52/4333 PENDING2 STANIFER PTY LTD Neds Creek E52/4334 PENDING2 STANIFER PTY LTD Springfield E52/4344 PENDING STANIFE
Slide 21: Exploration: structurally controlled copper – Thaduna Formation
Exploration: structurally controlled copper – Thaduna Formation Cu Rooneys – Historic small-scale mining – Positioned at the intersection of Thaduna and Green Dragon mineralised structural trends – Steep north dip – Walk up drill target with existing ore grade drill intersections Hole ID1 From Depth
Slide 22: Exploration: structurally controlled copper – Thaduna Formation
Exploration: structurally controlled copper – Thaduna Formation Cu Other Prospects1 Hole Id From Depth Cu% Prospect Hole Id From Depth Cu% Prospect – North-East NCAC0090 57 2 0.55 NCAC0108 58 2 1.20 Green Dragon THR3743 2 6 0.98 NCAC0109 101 3 0.32 – East Green Dragon THR3714 57 4 0.47 NCAC0052 132
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