Slide 1: Minyari Dome Gold-Copper Project Updated Scoping Study
MINYARI DOME GOLD-COPPER PROJECT UPDATED SCOPING STUDY EXCEPTIONAL STAND-ALONE DEVELOPMENT POTENTIAL CONFIRMED AT ANTIPA’S 100% OWNED MINYARI DOME GOLD-COPPER PROJECT ASX: AZY OCTOBER 2024
Slide 2: Disclaimer
DISCLAIMER Refer to Antipa Minerals ASX release 24 October 2024 “Minyari Scoping Study Update Confirms Development Potential”, for full Scoping Study details. Antipa Minerals confirms that it is not aware of any new information or data that materially affects the information included in that release
Slide 3: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY ANTIPA MINERALS ACKNOWLEDGES THE TRADITIONAL CUSTODIANS OF COUNTRY THROUGHOUT AUSTRALIA AND THEIR CONNECTIONS TO LAND, SEA AND COMMUNITY WE PAY OUR RESPECT TO THEIR ELDERS PAST AND PRESENT, EXTENDING THAT RESPECT TO ALL ABORIGINAL AND TORRES STRAIT ISLANDER PEOPLES TODAY I
Slide 4: Significant September 2024 Mineral Resource Update
MINYARI DOME A PROJECT 100% ANTIPA ANTIPA MINERALS SIGNIFICANT SEPTEMBER 2024 MINERAL RESOURCE UPDATE 2.9 Moz GOLD EQUIVALENT RESOURCE1 B 2.3 Moz CONTAINED GOLD-ONLY A INDICATED RESOURCE 1.7 Moz GOLD AT 1.6 g/t GOLD C INCREASES AND ENHANCES RESOURCE SCALE 1. Antipa’s 100%-owned Minyari Dome Project
Slide 5: Exceptional Development Potential Confirmed
MINYARI DOME GOLD PROJECT A EXCEPTIONAL DEVELOPMENT POTENTIAL CONFIRMED ANTIPA MINERALS MINE MINING INITIAL SCHEDULE PHYSICALS GOLD OUTPUT MINYARI DOME PROJECT (100% ANTIPA) A 30.2 Mt at 1.5 g/t Au 3 Mtpa throughput 1.3 Moz Initial open pit and For 10 + years initial Average of 130 koz pa undergroun
Slide 6: Updated Minyari Dome Project Scoping Study
A UPDATED MINYARI DOME PROJECT SCOPING STUDY TECHNICALLY STRATEGICALLY SIMPLE, NON- EXISTING ROAD PROJECT REAFFIRMED AND SIGNIFICANT REFRACTORY AND PORT, PLUS ECONOMICS ROBUST, WITH LOCATION IN A METALLURGY ESTABLISHED HIGHLY LEVERAGED SUBSTANTIALLY WORLD-CLASS SUPPORTS A PROCESSING TO FURTHER ENHAN
Slide 7: Project Parameters – Base Case and Upside Drivers
A UPDATED MINYARI DOME PROJECT SCOPING STUDY PROJECT PARAMETERS – BASE CASE (± 35%)1 KEY POTENTIAL UPSIDE DRIVERS Tonnes Mt 30.2 Mine schedule and operating life extension to be enabled by: Gold grade g/t 1.5 Minyari ± WACA down-plunge Contained ounces of gold Moz 1.5 Drill out at Minyari Sout
Slide 8: NPV Sensitivity Analysis and Gold Price Upside
A UPDATED MINYARI DOME PROJECT SCOPING STUDY NPV SENSITIVITY ANALYSIS (PRE-TAX, A$3,000/oz AU)1 PROJECT PROVIDES TREMENDOUS GOLD PRICE UPSIDE1 NPV7% UoM Base Spot A$834M Gold price assumption A$/oz 3,000 4,0002 NPV7% (pre-tax) A$M 834 1,696 Gold Price ± 30% 59 1610 IRR (pre-tax) % 52 91 Gold Price ±
Slide 9: One of Australia's Top Gold Development Projects
ONE OF AUSTRALIA’S TOP GOLD DEVELOPMENT PROJECTS RESOURCE CONTAINED OUNCES (Moz AuEq) RESOURCE GRADE (g/t AuEq) 10.5 Dalgaranga 4.8 A GROWING, NEAR Youanmi Central Tanami 3.2 4.4 8.4 SURFACE MINERAL Murchison Bendigo-Ophir 3.0 2.5 RESOURCE BASE Ravensthorpe 2.1 Kal East 2.1 Havieron 2.0 IN COMBINATI
Slide 10: High-Impact Exploration Activities Continue
A HIGH-IMPACT EXPLORATION ACTIVITIES CONTINUE TARGETING RESOURCE GROWTH AND MAJOR NEW DISCOVERIES Phase 1 Programme for 15,242m drilling completed in June 2024: Multiple 30 to 100 gram-metre gold intersections at the GEO-01 discovery Confirmed exciting GEO-01 extensional targets for thick, high-
Slide 11: Citadel JV Project Exit Liberates Latent Value
CITADEL JV PROJECT SIGNIFICANT EXIT LIBERATES EXPLORATION SPEND ACROSS LARGE LATENT VALUE 1 3,920km2 PORTFOLIO A$17 MILLION CASH SALE PATERSON (100% ANTIPA) Shareholders access 1,550km2 MONETISES A NON-CORE, leverage to major MINORITY INTEREST new resource WILKI opportunities in an (100% ANTIPA) are
Slide 12: Citadel Sale Completion Increases Cash Reserves
CITADEL SALE COMPLETION INCREASES CASH RESERVES CAPITAL STRUCTURE | ASX: AZY SHARE REGISTER4 Share price1 A$0.034 8.6% Shares on issue1 4,776M 4.2% Newmont5 3.1% Lion Selection Group 3.1% Market capitalisation1 A$162M IGO 18.6% Board and Management 62.4% Cash2 A$23M Institutions and Funds Other Debt
Slide 13: The ASX Gold Opportunity Set
THE ASX GOLD OPPORTUNITY SET MARKET CAPITALISATION PRODUCERS (A$M)1,2 MARKET CAPITALISATION PROJECTS (A$M)1,2 CURRENT MARKET 100,715 Australia Africa South-East Asia North America Diversified 3,499 VALUATIONS 20,039 10,682 1,825 PROVIDE AMPLE ROOM 4,101 FOR SUBSTANTIAL FURTHER RE-RATE 3,131 649 646
Slide 14: Committed to Social and Environmental Responsibility
COMMITTED TO SOCIAL AND ENVIRONMENTAL RESPONSIBILITY LOCAL COMMUNITY REGIONAL ECONOMIC CULTURAL HERITAGE SOCIALLY INCLUSIVE PARTNERSHIPS DEVELOPMENT PROTECTION WORKPLACE ENGAGING LOCAL EXPLORATION COLLABORATING COMMITTED TO PEOPLE AND INVESTMENT FOR WITH TRADITIONAL WORKPLACE DIVERSITY BUSINESSES FO
Slide 15: Highly Experienced and Motivated Executive Team
HIGHLY EXPERIENCED AND MOTIVATED EXECUTIVE TEAM Mark Rodda Roger Mason Stephen Power Peter Buck Gary Johnson Luke Watson Executive Managing Non-Executive Non-Executive Non-Executive CFO and Company Chairperson Director and CEO Director Director Director Secretary Lawyer and Corporate Geologist
Slide 16: Set to Play a Major Part in the Region's Rapid Resurgence
SET TO PLAY A MAJOR PART IN THE REGIONS RAPID RESURGENCE A TRULY OUTSTANDING GOLD GROWTH POTENTIAL FROM STRATEGIC PARTNERSHIPS MINING LOCATION MULTIPLE TARGET AREAS FUNDING EXPLORATION SPEND PROXIMAL TO THE TELFER MINE AND EXPLORATION IS ONGOING – HIGH-QUALITY PARTNERS WITH STRONG WINU AND HAVIERON
Slide 17: Updated Scoping Study Detail
UPDATED SCOPING STUDY DETAIL
Slide 18: Updated Minyari Dome Project Scoping Study
A UPDATED MINYARI DOME PROJECT SCOPING STUDY1 MINE SCHEDULE MINING PHYSICALS STANDARD CIL PLANT 30.2 Mt at 1.5 g/t Au 3 Mtpa throughput 90% gold recovery Initial open pit and underground mine For 10+ years initial processing life Simple non-refractory metallurgy INITIAL GOLD OUTPUT FORECAST AISC CAP
Slide 19: Projected Annual Free Cash Flows
A UPDATED MINYARI DOME PROJECT SCOPING STUDY PROJECTED ANNUAL FREE CASH FLOWS (POST-TAX, A$M) AT VARIOUS GOLD PRICE ASSUMPTIONS1 A$3,000/oz Au A$4,000/oz Au A$4,200/oz Au 273 249 249 235 241 243 250 229 226 230 228 216 207 222 224 210 198 191 170 172 151 156 139 132 126 127 117 110 106 78 32 30 18 Y
Slide 20: Minyari Dome Stand Alone Development Opportunity
A UPDATED MINYARI DOME PROJECT SCOPING STUDY MINYARI DOME STAND ALONE DEVELOPMENT OPPORTUNITY1 OPTIMAL CASE Two standard processing facility options 13.5 M tonnes evaluated: Aupit ore open a gravity and CIL plant for a Gold- OPEN PIT GOLD Focused case producing doré gold; and ORE OUTPUT a flot
Slide 21: Conceptual Configuration and Processing Schedule
A UPDATED MINYARI DOME PROJECT SCOPING STUDY CONCEPTUAL CONFIGURATION1 PROJECT PROCESSING SCHEDULE1 3,500 3.50 Mill feed (kt) Gold grade (g/t) 3,000 3.00 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 2,500 2.50 2,250 2,000 2.00 1.77 1,500 1.69 1.65 1.67 1.50 1.61 1.58 Mining Method/Approach:
Slide 22: Open Pit and Underground Mine Design
A UPDATED MINYARI DOME PROJECT SCOPING STUDY CONCEPTUAL CONFIGURATION – OPEN PIT and UNDERGROUND MINE DESIGN1 View bearing -16° to 098° View bearing 0° to 317° 1. Minyari Dome Project Scoping Study Update dated 24 October 2024 completed to ±35% level of accuracy. INVESTOR PRESENTATION | 22
Slide 23: Production Profile Projection
A UPDATED MINYARI DOME PROJECT SCOPING STUDY PRODUCTION PROFILE PROJECTION1 PRODUCTION DETAIL1 Recovered gold (koz) 1.32 Moz total gold produced: forecast annual output of up to 145 142 139 144 136 145,000oz of gold in Year 5 134 120 average of 130,000oz of gold per 115 114 116 annum over the
Slide 24: Mining Schedule
A UPDATED MINYARI DOME PROJECT SCOPING STUDY MINING SCHEDULE: BY RESOURCE CLASSIFICATION1 MINING SCHEDULE: OPEN PIT AND UNDERGROUND1 1. Minyari Dome Project Scoping Study Update dated 24 October 2024 completed to ±35% level of accuracy. INVESTOR PRESENTATION | 24
Slide 25: Capital and Operating Cost Estimates
A UPDATED MINYARI DOME PROJECT SCOPING STUDY CAPITAL COST ESTIMATE (Development and Sustaining)1 OPERATING COST ESTIMATE1 Area A$M Area A$ Processing Plant (3Mtpa CIL) 96.2 Mining – Open pit 26.50/t ore Contingency 9.6 Contingency 80.00/t ore Infrastructure - Process 36.0 Infrastructure - Process 20
Slide 26: Exploration Upside Potential
EXPLORATION UPSIDE POTENTIAL
Slide 27: CY2024 Drilling Programmes
CY2024 DRILLING PROGRAMMES Multiple gold-copper targets across Minyari Dome LONG SECTION – MULTIPLE PLUNGE TARGETS INCLUDING MINYARI OFFSET Legend: Minyari: Thick breccia & vein mineralisation starts at surface and delivers 3,000oz per vertical metre GEO-01: 2023 and 2024 drilling intersected th
Slide 28: GEO-01 Discovery
A GEO-01 DISCOVERY Maiden gold resource and initial open pit inventory delivered Significant near-surface high-grade gold mineralisation intersected : 35m at 3.0 g/t gold from 20m down hole in 24MYC0610, including: 16m at 5.6 g/t gold from 33m 50m at 2.3 g/t gold from 72m down hole in 23MYC0
Slide 29: GEO-01 Discovery
GEO-01 DISCOVERY Maiden gold resource and initial open pit inventory delivered GEO-01 deposit plan view showing drill intersections and interpreted mineralisation envelopes GEO-01 prospect gold ± copper mineralisation footprint increased to 700m by 500m Main zone of ENE trending thick high-gra
Slide 30: JV and Farm-in Funded Exploration
JV AND FARM-IN FUNDED EXPLORATION
Slide 31: Major Growth Projects
MAJOR GROWTH PROJECTS JV and farm-in exploration B C PATERSON FARM-IN WILKI FARM-IN B (100% ANTIPA: IGO) (100% ANTIPA: NEWMONT) Exploring for sediment-hosted Targeting greenfield discoveries A copper deposits with potential to supply Telfer’s 22 Mtpa gold- gold and/or cobalt credits copper-silver pr
Slide 32: Shallow Depth of Younger Cover
SHALLOW DEPTH OF YOUNGER COVER APPROXIMATELY 50% of Antipa tenements are under less than 20 metres of cover APPROXIMATELY 80% of Antipa tenements are under less than 80 metres of cover 1. Havieron refer to Greatland Gold plc AIM release dated 21 December 2023, “Havieron Mineral Resource Estimate Upd
Slide 33: New Parklands Greenfield Target
C NEW PARKLANDS GREENFIELD TARGET A very large-scale surface geochemical gold anomaly CURRENT TARGETS Parklands surface geochemical gold anomaly: Telfer sized, very large 3km long by up to 1.5km wide Located just 10km northeast of Newmont’s Telfer gold- copper-silver 22 Mtpa processing facilit
Slide 34: New Parklands Greenfield Target
C NEW PARKLANDS GREENFIELD TARGET A very large-scale surface geochemical gold anomaly Located just 10km northeast of Newmont’s Telfer gold-copper- silver 22 Mtpa processing facility1 Coherent gold and mineral system pathfinder surface geochemical anomaly: Very large 3km long by up to 1.5km wid
Slide 35: Multiple Targets Surrounding Minyari
B MULTIPLE TARGETS SURROUNDING MINYARI Including Winu and Havieron analogue targets CURRENT TARGETS Two co-incident magnetic-gravity high Havieron analogue targets 11 to 25km from Minyari (PP-GRAV02 and PP-GRAV01) Collie 2km long EM target 10km along strike from Winu Multiple air core and soil
Slide 36: AL01 – A Very Large-Scale Air Core Gold Target
B AL01 – A VERY LARGE-SCALE AIR CORE GOLD TARGET 5km long air core gold and pathfinder anomaly just 17km from Minyari AL01 located 17km north of Minyari 2023 air core drilling extended AL01 anomaly to a 5km long target Meta-sediment hosted gold and pathfinder anomaly: Extensive mineral syste
Slide 37: Appendix
ANTIPAMINERALS x (=) a Lu a. a. <x
Slide 38: Key JV and Farm-in Project Agreement Terms
KEY JV AND FARM-IN PROJECT AGREEMENT TERMS B PATERSON PROJECT: A$30M IGO FARM-IN FOR UP TO 70% INTEREST (AZY 100%, IGO 0%) ~1,550km2 Antipa / IGO Farm-in Project (agreed 9 July 2020) comes within 23km of Telfer and 8km of Rio’s Winu copper-gold-silver development project Initial A$4M minimum exp
Slide 39: Minyari Dome Project 2024 Mineral Resource Estimate
MINYARI DOME PROJECT 2024 MINERAL RESOURCE ESTIMATE MINYARI DOME PROJECT (ANTIPA 100%)1 Deposit Classification Tonnes Au g/t Au ounces Ag g/t Ag ounces Cu % Cu tonnes Co % Co tonnes Minyari Indicated 27,100,000 1.75 1,505,000 0.58 507,000 0.22 59,800 0.04 9,720 Minyari Inferred 6,200,000 1.78 347,00
Slide 40: Mineral Resource - Wilki Farm-In Project and Citadel JV Project
MINERAL RESOURCE - WILKI FARM-IN PROJECT AND CITADEL JV PROJECT Wilki Farm-In Project (Antipa 100%) Deposit Cut-off Category Tonnes (Mt) Au grade (g/t) Cu grade (%) Ag grade (g/t) Co (ppm) Au (oz) Cu (t) Ag (oz) Co (t) Chicken Ranch 0.5 Au Inferred 0.8 1.6 40,300 Tim's Dome 0.5 Au Inferred 1.8 1.1 6
Slide 41: Mineral Resource Estimates – Gold Equivalent Calculations
MINERAL RESOURCE ESTIMATES – GOLD EQUIVALENT CALCULATIONS Gold Metal Equivalent Information – Minyari Dome Project Mineral Resource Gold Equivalent reporting cut-off grade A gold equivalent grade (Aueq) has been calculated from individual gold, copper, silver and cobalt grades. This equivalent grade
Slide 42: Top ASX-Listed Gold Projects
TOP ASX-LISTED GOLD PROJECTS TOP AUSTRALIAN GOLD PROJECTS: REFERENCE INFORMATION Company ASX Ticker Share Price (23 Oct 2024) Shares Outstanding (millions) Market Capitalisation (A$M) Region De Grey DEG 1.46 2,396.76 3,499.27 Australia Spartan Resources SPR 1.64 1,112.73 1,824.88 Australia Southern
Slide 43: Top ASX-Listed Gold Projects
TOP ASX-LISTED GOLD PROJECTS TOP AUSTRALIAN GOLD PROJECTS: REFERENCE INFORMATION Project Company Contained Au (Moz) Classification Ratio (M:I:I) Resource Grade (g/t Au) Link Hemi De Grey 10.5 0: 66: 34 1.3 https://degreymining.com.au/wp-content/uploads/2024/07/6A1215355_DEG.pdf Havieron Greatland Go
Slide 44: Top ASX-Listed Gold Producers Detail
TOP ASX-LISTED GOLD PRODUCERS DETAIL TOP AUSTRALIAN GOLD PRODUCERS: REFERENCE INFORMATION Company ASX Ticker Share Price (23 Oct 2024) Shares Outstanding (millions) Market Capitalisation (A$M) Region Newmont NEM 87.35 1,153 100,715 Diversified Northern Star Resources NST 17.43 1,150 20,039 Diversifi
Slide 45: Contact Details
CONTACT DETAILS MANAGING DIRECTOR EXECUTIVE CHAIRPERSON Mr Roger Mason Mr Mark Rodda E: roger.mason@antipaminerals.com.au E: mark.rodda@antipaminerals.com.au CORPORATE OFFICE MEDIA RELATIONS Level 2, 16 Ord Street Mr Michael Vaughan West Perth WA 6005 Fivemark Partners Australia E: michael.vaughan@f
Slide 46: Thank You
ANTIPAMINERALS THANK YOU