Saturn Metals Ltd. · ASX:STN

Saturn Metals — 2024 Precious Metals Summit, Beaver Creek

19 slides from Saturn Metals's conference presentation, Sep 10, 2024

  1. Slide 1: Apollo Hill - A Simple and Robust Heap Leach Strategy

    Apollo Hill - A Simple and Robust Heap Leach Strategy For personal use only Presentation: Wednesday, 11 September 2024, 11:00 am MDT 10 – 13 September 2024 2024 Precious Metals Summit, Beaver Creek ASX:STN Ian Bamborough www.saturnmetals.com.au Managing Director

  2. Slide 2: Apollo Hill 'Greater' Gold Project Overview, Location and Tenure

    Apollo Hill ‘Greater’ Gold Project Overview, Location and Tenure • Central strategic position in the Belt • 60km south-east of Leonora in Western Australia in world class For personal use only multi-million ounce gold province close to existing gold infrastructure • Centred around the namesake 1.84M

  3. Slide 3: Corporate Snapshot

    Corporate Snapshot Strong Register – Compelling Value – Well Funded Corporate Metrics & Share Structure Assets Cash as at 30 June 2024 $4M EV/Resource oz $24 & Placement announced 1 July 2024 +$14M For personal use only 1 Ordinary Shares on Issue 308M Mineral Resources – Apollo Hill Gold Deposit 1.8

  4. Slide 4: Apollo Hill – Resource (1.84Moz Au) June 2023

    Apollo Hill – Resource (1.84Moz Au1) June 2023 Big, Single, Simple, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell 6772000N 372000E Apollo Hill May 2022 6774000N Mineral Resource 1,469,000oz (76Mt @ 0.60g/t Au at 0.23g/t Au cut-off) For personal use only 3D Oblique view Lookin

  5. Slide 5: Apollo Hill 2023 Mineral Resource & PEA Whittle Shell

    Apollo Hill 2023 Mineral Resource & PEA Whittle Shell Scalability SW NE  Only 1.5:1 strip ratio LOM, more 0.35km ounces in shell TOPO BOCO For personal use only  Initial strip ratio over the first two TOFR years is 1.2:1  Thick ore zones +100m  Bulk tonnage  Bigger selective mining units, econo

  6. Slide 6: Simple Metallurgy – Apollo's Biggest Cost Differentiator

    Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHING: For personal use only Gold Grains Efficient & Excellent Low-Cost Recovery RouteA  +78% gold recovery in columns at completion at 8mm Crush  +88% gold recove

  7. Slide 7: Leach Kinetics and Recovery Performance

    Leach Kinetics and Recovery Performance Strong and Timely Curves with a Predictable Finish for Efficient Management of Heap LeachingA For personal use only A Refer Slide 17 ASX:STN | www.saturnmetals.com.au 7

  8. Slide 8: Preliminary Economic Assessment: Production Target – 1.63Moz

    Preliminary Economic Assessment Production Target – 1.63Moz Initial Target: 10Mtpa for 10 years For personal use only from current 1.84Moz Au Mineral Resource  Life of mine production totals 93.9 Mt at 0.54 g/t Au for 1,636,000oz of contained gold  Average waste to ore ratio of 1.5 to 1  Simple F

  9. Slide 9: Preliminary Economic Assessment: Heap Leach Circuit

    Preliminary Economic Assessment Heap Leach Circuit Solution and Mining Offices and Workshops Storm Water Ponds Initial processing rate Waste Dump of 10Mtpa for 10 years2 For personal use only Columns and Elution Plant  Simple scheduling  Conventional process Agglomerator Power Plant HPGR  Strong

  10. Slide 10: Preliminary Economic Assessment: Low Cost Per Tonne & Ounce

    Preliminary Economic Assessment Low Cost Per Tonne & Ounce – Bulk Mining & Processing Delivers Economies of Scale • C1 Cost A$1,730/oz (US$1,160/oz) • ASIC A$1,857/oz (US$1,244/oz) For personal use only • Mining A$4.50/t (US$3/t) (10m bench – large efficient SMU’s) • Processing A$9.42/t (US$6.31/t)

  11. Slide 11: Preliminary Economic Assessment: Robust Financials at A$2,665/oz Gold

    Preliminary Economic Assessment Robust Financials at A$2,665/oz (US$1,785) Gold base case, a Healthy Margin At more recent gold prices (~A$3,700/oz), the Project demonstrates outstanding financial outcomes including: Gold Price A$/oz 2,665 For personal use only Project EBITDA • a free cash flow of m

  12. Slide 12: Resource Comparison

    Resource Comparison Peer Group Current Resources firmly Kisladag, TUR Tujuh Bukit, IDN Eldorado Gold For personal use only Merdeka place Apollo Hill in bulk Reserves* Apollo Hill, AUS tonnage economic space: Saturn Metals  Grade Florida Canyon, USA Soledad Mountain, USA Florida Canyon Gold Andean P

  13. Slide 13: Bulk Sample Pits and Pilot Plant Concept

    Bulk Sample Pits and Pilot Plant Concept Design: 1.2Mt Mined for 24koz Recovered • Implementation of concept subject to regulatory approvals, funding and final investment decision For personal use only ASX:STN | www.saturnmetals.com.au 13 3D Rendering of Saturn’s Pilot Plant Engineering Drawings

  14. Slide 14: Resource Extension – Apollo Hill Corridor

    Resource Extension – Apollo Hill Corridor Strong Intersections Provide Expansion Opportunities on Multiple Shallow Fronts Thick, shallow, and high-grade intersections from reverse circulation For personal use only drilling includeA: • 7m @ 11.18g/t Au from 172m – AHRC0813 • 12m @ 10.98g/t Au from 48

  15. Slide 15: Regional Potential

    Regional Potential Main Gold Structure – Access Granted to Primary Target Areas • ~1,000km2 land package For personal use only • 16 Prospects discovered to date • Large continuous gold system • Large tracts of ground still untested 5km • 10,000m of Lake AC Underway 10km 20km **See Saturn Metals Pros

  16. Slide 16: Development Plan: Timeline To Full-Scale Production

    Development Plan Timeline To Full-Scale Production 2024 2025 2026 2027 2028 Pre-Feasibility Study For personal use only Definitive Feasibility Study Full Scale Operations Financing & Procurement *subject to permitting, approvals, funding & Regulatory Approvals investment decision Construction & Comm

  17. Slide 17: Important Information Disclaimer & Competent Person Statements

    Important Information Disclaimer & Competent Person Statements GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believes ar

  18. Slide 18: Appendix A: Mineral Resource – Apollo Hill Gold Deposit

    Appendix A Mineral Resource – Apollo Hill Gold Deposit Measured Indicated Inferred Mineral Resource Total Lower Cut-off Oxidation state For personal use only Grade Au g/t Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal Tonnes Au Au Metal (Mt) (g/t) (koz) (Mt) (g/t) (koz) (Mt) (g/t) (koz) (M

  19. Slide 19: Appendix B: Resource Comparison – Peer Group Data

    Appendix B Resource Comparison – Peer Group Data Mineral Resource Measured Indicated Inferred Total Source Company Desposit Stage Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces For personal use only 1 Kinross Gold Corporation Bald Mountain Production 7,743,000 0.70 1

Saturn Metals — 2024 Precious Metals Summit, Beaver Creek on 6ix