Kalamazoo Resources Ltd. · ASX:KZR
Kalamazoo Resources — Gold Coast Gold March 2026
19 slides from Kalamazoo Resources's conference presentation, March 2026
Slide 1: Ashburton Gold Project
ASX : KZR Ashburton Gold Project One of Australia’s most compelling gold developments Investor Presentation Emerging as a long-life development | Gold Coast Gold March 2026
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer HISTORICAL ASX ANNOUNCEMENTS AND REFERENCES The information in this release that relates to metallurgy, metallurgical test work and process design has been developed, and reviewed In preparing this announcement, the Company has relied on the following ASX announcement
Slide 3: Investment Catalyst
Investment Catalyst PFS underway: Target delivery 12 months Acquisition of Ashburton Gold Project (AGP) June 2020 • PFS kicked-off in January 2026 with gold price of from Northern Star at A$2,500/oz gold price ~A$7,000/oz - up 180% since acquisition AGP Scoping Study outlines technically • AGP conta
Slide 4: New Leadership Team to Drive Growth
New Leadership Team to Drive Growth Luke Reinehr Ben Ackerman Andrew McDougall Executive Chairman Executive Director Incoming CEO As a founder of Kalamazoo, Luke’s core legal experience Ben is a senior exploration leader with >25 years’ experience in Andrew is a highly experienced mining executive w
Slide 5: Ashburton Gold Project
Ashburton Gold Project • Located on southern edge of Pilbara Craton • Mining towns of Paraburdoo and Tom Price nearby with good road connections to Port Hedland and Karratha • Excellent existing infrastructure • Project produced 350,000oz Au between 1998-2004 • Mineral Resource Estimate of 16.2Mt @
Slide 6: Ashburton Gold Project
Ashburton Gold Project3,4 • Project area of 380km2 • Mt Olympus deposit: 12.2Mt @ 2.7 g/t for 1.07Moz Au within Mining Lease • Peake, Waugh and Zeus deposits contain an additional 363Koz Au • Recently acquired Xanadu Gold Project • Highly prospective exploration and development project 6 Kalamazoo R
Slide 7: Scoping Study Outcome
Scoping Study Outcome5 • Initial development focused only on Mt Olympus open-pit • Low cost, simple 1.5Mtpa crushing and flotation plant • ~524koz Au to produce a high-grade 25g/t gold concentrate • Gold-in-concentrate production is a proven, capital- efficient route to market – likely strong demand
Slide 8: Scoping Study Financials – Base Case using $4,500/oz Au
Scoping Study Financials – Base Case using $4,500/oz Au1 Processing 1.5Mtpa Plant Initial Gold Output 8.5Mt @ 2.2 g/t Au 3 Stage Crushing/Flotation 524koz over 71 months 86% recovery producing 25 g/t Au High- average of 73koz per annum Grade Concentrate Pre-tax Cashflow Pre-tax NPV8% Pre-tax IRR $74
Slide 9: Scoping Study Outcomes
Scoping Study Outcomes $4,500/oz Excellent financial outcome with Key Financial Assumptions $5,250/oz $7,000/oz Base Case Base Case $4,500/oz Gold Price US$/oz 2,925 3,413 4,550 A$/oz 4,500 5,250 7,000 Discount Rate % 8 8 8 145% increase in free cash-flow at Project Valuation – Pre Tax $7,000/oz EBI
Slide 10: Re-Optimisation Delivers Growth Potential
Re-Optimisation Delivers Growth Potential3 • New Mt Olympus Underground Resource using a conservative gold price of $4,500/oz has increased to 1.44 Mt @ 3.76 g/t Au for 174,500oz • Underground Exploration Target identified a further 2.0 - 6.0Mt @ 2 g/t Au for between 129,000 – 387,000oz (mid-point 2
Slide 11: Extension Drilling - Delivering on Growth
Extension Drilling - Delivering on Growth 5 • Phase 1 Growth diamond drill program of 2,776 metres completed in January 2026 – targeting potential resource extensions below and down plunge of the Mt Olympus pit shell - 8.8m @ 11g/t Au from 21m, incl. 2.9m @ 21g/t Au from 22m (KADD0003) • Highly enco
Slide 12: Further Resource Expansion
Further Resource Expansion Greenfields Underground Multiple Resources Resources2 • High Priority Targets • Potential to add further 350 – 500koz from UG1 • Sulphide and Oxide Peake Deposit 210,000oz @ 3.4 g/t Au • Targeting a 1Moz Au • Ashburton regional production profile Zeus Deposit • Xanadu regi
Slide 13: Infill Drilling Commencing
Infill Drilling Commencing 14,000m of RC and DD drilling designed to: ❖ Increase geological confidence in the Mt Olympus resource model ❖ Provide drilling density to upgrade Inferred Resources to Indicated classification ❖ Support future Ore Reserve estimation ❖ Provide key inputs to the Mt Olympus
Slide 14: Mt Piper Au-Sb Project - Central Victoria
Mt Piper Au-Sb Project - Central Victoria 6 • Strong gold–antimony geo-chem results at 1,522km2 Mt Piper Gold – Antimony Project • Located in Victoria’s premier Au-Sb province between Fosterville, Costerfield, Sunday Creek, and Nagambie • Rock chip sampling at Kurkuruk mine area confirms high-grade
Slide 15: High-Grade Gold – Bendigo Zone
High-Grade Gold – Bendigo Zone • Strategy to acquire and discover high-grade (>10g/t) resources • One of the largest tenement holdings in Central Victoria (485km2) • Bendigo Zone: +60Moz Au at average grade of 15 g/t Au • Castlemaine: 4.6Moz Au – claimed to be world’s highest grade alluvial gold fie
Slide 16: Peer Comparison – Substantial Value
Peer ComparisonA – Substantial Value 16 Kalamazoo Resources | March 2026 A. See Annexure 1 for detailed Parameters for Enterprise Value per total Mineral Resource ounce Au
Slide 17: Corporate Overview
Corporate Overview Substantial ShareholdersB Board & Management Capital Structure Luke Reinehr Executive Chairman Shares 314,124,719 Benjamin Ackerman Executive Director Performance Rights 11,000,000 14.8% Angus Middleton Non-Executive Director Unlisted Options 38,611,111 15.0% Paul Adams Non-Execut
Slide 18: Annexure 1
Annexure 1 Parameters for Enterprise Value per total Mineral Resource ounce Au 18 Kalamazoo Resources | March 2026
Slide 19: Contact Us
ASX : KZR Contact Us Luke Reinehr, Executive Chairman | Research luke.reinehr@kzr.com.au Petra Capital Ltd