Ballard Mining Limited · ASX:BM1
Ballard Mining — Diggers and Dealers Conference 2025
25 slides from Ballard Mining's conference presentation, Aug 6, 2025
Slide 1: Unlocking the Potential of Mt Ida
For personal use only UNLOCKING THE POTENTIAL OF MT IDA Grow and Develop Diggers and Dealers Conference August 2025 SIMON LILL - CHAIR ASX:BM1 | ballardmining.com.au
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: You must read the following before continuing. FORWARD LOOKING STATEMENTS This presentation (“Presentation”) is dated 6th August 2025 and has been prepared by Ballard Mining This Presentation may contain certain statements and projections provided by or on behalf of Ballard Lim
Slide 3: Disclaimer
DISCLAIMER INVESTMENT RISK A copy of the Prospectus is available at www.ballardmining.com.au and www.asx.com.au. Ballard confirms that the form and context in which the Competent Person's findings are presented have not An investment in Ballard is subject to investment and other known and unknown ri
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS GROWTH For personal use only 26km highly 130,000 metre drill Well funded: $30M IPO prospective program underway with proceeds underexplored targeting growth via shear zones 4 rigs drilling the drill bit DEVELOPMENT MRE of 1.1Moz @ 3.3g/t1 Baldock fully permitted Free-milling, n
Slide 5: Board Composition
BOARD COMPOSITION The right team to drive development, resource growth and new discovery For personal use only SIMON LILL PAUL BRENNAN TIM MANNERS STUART MATHEWS JAMES CROSER LOREN FALCONER Non Executive Chair Managing Director Finance Director Non Executive Director Non Executive Director Company S
Slide 6: Capital Structure
CAPITAL STRUCTURE Well funded for significant resource and exploration drilling OWNERSHIP STRUCTURE For personal use only BALLARD MINING LIMITED Key Metric Delta (2 year escrow) 46.0%2 Shares On Issue 340M Hancock Prospecting 6.2%3 Share Price (VWAP from listing date to 30/7/25) $0.39 Mineral Resour
Slide 7: Location
LOCATION LOCATION LOCATION! For personal use only Heart of the WA goldfields, 4 x processing plants within c.100km Refer to the Ballard IPO Prospectus lodged with the ASIC and dated 30 May 2025 (as amended by the Supplementary 7 Corporate Presentation August 2025 Prospectus lodged with ASIC and date
Slide 8: Mt Ida Gold Project
MT IDA GOLD PROJECT Resource Growth and Development Opportunity 7km 9km 1.1Moz at 3.3g/t Au1 For personal use only • JORC MRE includes Baldock Deposit of 930koz at 4.1g/t Au (402koz Indicated)1 • 6 existing gold deposits with Resources open • Camp-scale exploration potential across 26km of continuou
Slide 9: Regional Exploration Potential
REGIONAL EXPLORATION POTENTIAL 50,000m planned exploration drill program • 26km of continuous greenstone belt folded around the Copperfield Granite For personal use only • Prospective shear zones and host rocks on either side: • 13km Baldock Thrust • 13km Ballard Fault • Orogenic, shear hosted gold
Slide 10: Baldock Thrust Exploration
BALDOCK THRUST EXPLORATION 35,000m planned drill program Over 7km of strike to the For personal use only north of Baldock has an average drill depth of just 43 metres despite high- grade historical intercepts 671 historic drill holes over last ~20 years, mostly RAB drilling Refer to the Ballard IPO
Slide 11: Ballard Fault Exploration
BALLARD FAULT EXPLORATION For personal use only 15,000m planned drill program • Geological units on the Ballard Fault are identical to Baldock Neptune Prospect Thrust historic workings 350m • Limited or no drilling at some Prospects • Recent rock chip results has confirmed historical data as well as
Slide 12: Baldock – 930koz @ 4.1g/t
BALDOCK – 930koz @ 4.1g/t 80,000m planned drill program underway – infill and extensional Baldock MRE - Ounces Per Vertical Metre For personal use only - 1,000 2,000 3,000 4,000 Top 300m averages ~2,500 oz Per vertical metre, function of drilling Most recent drill program added 256,000oz at Baldock
Slide 13: Baldock – First Infill Results
BALDOCK – First Infill Results1 Increasing Resource confidence for Maiden Reserve targeted mid CY2026 • 3m @ 17.7g/t Au • 4m @ 7.3g/t Au For personal use only from 49m DFS062 from 146m DFS146 • 4m @ 12g/t Au • 3m @ 7.8g/t Au from 182m in DFS063 from 123m DFS044 Cautionary Statement: Visual estimates
Slide 14: Use of IPO Funds
USE OF IPO FUNDS $30M raised under the IPO will fund Resource Growth and Infill Drilling USE OF FUNDS $ 3 Drill Rigs undertaking Infill Drilling at Baldock For personal use only Exploration & Growth drilling $8.5M Baldock Extensional & Infill drilling $8.0M1 Studies – Mining, Met, Geotech, Water $3.
Slide 15: Growth and Development – Parallel Workstreams
USE OF IPO FUNDS Growth and Development – Parallel Workstreams targeting a 10 year plan FY26 FY27 FY28 For personal use only Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Baldock INFILL & EXTENSIONAL DRILLING GEOTECH & MET PROCESS PLANT ENGINEERING BALDOCK MAIDEN RESERVE Ta
Slide 16: Peer Comparison – ASX Gold Developers
PEER COMPARISON – ASX GOLD DEVELOPERS Ballard’s ASX-listed gold developer peers trade at an average EV/Contained Resource of $198/oz, with higher-grade (+ 2g/t) peers trading at an average of $328/oz For personal use only Gold Grade (g/t Au) $577/oz Select ASX Listed Gold 4.5g/t Developers – Peer Gr
Slide 17: Why Invest in Ballard Mining?
WHY INVEST IN BALLARD MINING? For personal use only A gold only focused company, with a clear exploration strategy supported by high quality board & management team A launch pad of 1.1Moz1 high-grade MRE, including 930koz at 4.1 g/t at Baldock which is fully permitted for mining Gold rights over ten
Slide 18: Appendices
For personal use only APPENDICES 18 Corporate Presentation August 2025 ASX:BM1 | ballardmining.com.au
Slide 19: Mineral Resource Estimate – April 2025
A MINERAL RESOURCE ESTIMATE – APRIL 20251 Indicated Inferred Total For personal use only Cut off Deposit Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000s) g/t Au (000s) (000s) g/t Au (000s) (000s) g/t Au (000s) Baldock 2,600 4.5 365 1,570 3.6 200 4,120 4.2 563 Kestrel - - - 940 1.6
Slide 20: Mineral Rights Deed
B MINERAL RIGHTS DEED • Mineral Rights Deed1 executed between Mt Ida Au Pty Ltd, For personal use only Mt Ida Lithium Pty Ltd, Ballard Mining Limited and Delta Lithium Limited • Ballard to issue 220M shares to Delta (or its nominee) in consideration of the Gold Asset • Mining and Exploration: Area B
Slide 21: Mineral Rights Deed (Cont'd)
B MINERAL RIGHTS DEED (CONT’D) • Gold and lithium are separate For personal use only geological units and can be mined separately (no sterilisation) • Any capital costs for mine development for Gold operations can be utilised and shared with any potential lithium operation • Cooperation governed by
Slide 22: Mineral Rights Deed (Cont'd)
B MINERAL RIGHTS DEED (CONT’D) Scenario Resolution Method For personal use only Conflicting activities Parties must discuss and minimise interference. Concurrent mining Form Joint Operating Committee (JORC), decide on Dominant Mine, and coordinate operations. Shared costs Shared proportionally based
Slide 23: Peer Comparison – Source Data
Peer C PEER COMPARISON – SOURCE DATA Market Cash Debt Enterpr ise Val Measured Resource Indicated Resource Inferred Resource Total Resource Sources Cap ue (EV) For personal use only Tonnes Grade Cont. Tonnes Grade Cont. Tonnes Grade Cont. Tonnes Grade Cont. ($m) (1) ($m) ($m) ($m) Financials Resourc
Slide 24: Timeline: A History of High-Grade Gold
1890 - 1960 D TIMELINE A HISTORY OF HIGH-GRADE GOLD 2021 2023 2025 • Timoni Mine • Red Dirt Metals purchases Mt Ida • Maiden Gold MRE at Mt Ida • Gold MRE Update For personal use only Production from Ora Banda Ltd with Gold 3.1Mt @ 4.1g/t Au for 412koz3 10.3Mt @ 3.3g/t Au for 1,102koz5 historic esti
Slide 25: For more information contact
For personal use only For more information contact: info@ballardmining.com.au ASX:BM1 | ballardmining.com.au 25 Corporate Presentation July 2025 ASX:BM1 | ballardmining.com.au