Lion Rock Minerals Limited · ASX:LRM
Lion Rock Minerals — Investor Presentation (September 2025)
33 slides from Lion Rock Minerals's investor presentation, Sep 8, 2025
Slide 1: Minta Rutile Project: From Discovery to Mineral Province in 1 Year
For personal use only Cameroon, West Central Africa M I N TA R U T I L E P ROJ ECT FROM DISCOVERY TO MINERAL PROVINCE IN 1 YEAR ASX:LRM lionrockminerals.com.au ASX:LRM lionrockminerals.com.au 1
Slide 2: Important Notices
IMPORTANT NOTICES DISCLAIMERS COMPETENT PERSON’S STATEMENT – PREVIOUSLY RELEASED EXPLORATION RESULTS For personal use only This presentation contains certain statements which constitute “forward-looking statements”. These The information contained in this presentation that relates to Exploration Res
Slide 3: Why Invest
WHY INVEST For personal use only RESOURCE & GRADE HIGH-VALUE UPSIDE Scarce Monazite Rare Earths Rutile-dominant Rutile nuggets Targeting ~1% in-situ rutile grade SCALE & ACCESS MOMENTUM & UPSIDE ~8,600km2 tenure Exploration drilling ongoing with 2,750km2 currently indicating rutile Fully funded for
Slide 4: The Minta Project: 100% Hit Rate
For personal use only T H E M I N TA P ROJ ECT 100% HIT RATE ASX:LRM lionrockminerals.com.au 4
Slide 5: Minta Rutile Project, Cameroon
MINTA RUTILE PROJECT, CAMEROON NIGERIA PROVINCE Minim Martap SCALE RUTILE DISCOVERY For personal use only Located in Cameroon politically stable, Commonwealth member, CAMEROON mining-friendly jurisdiction Exceptional infrastructure access road, rail, port, and hydroelectric power all within reach La
Slide 6: Reconnaissance Exploration: 100% of Holes Reporting HM Mineralisation
RECONNAISANCE EXPLORATION 100% OF HOLES REPORTING HM MINERALISATION For personal use only Greenfields discovery First ever systematic exploration on tenure Broad spaced drilling Every hole 1km apart, drill lines 10km apart Cheap, effective, rapid Handheld auger and push tube drilling Discovery hole
Slide 7: Systematic Exploration Revealing High-Grade Zones
RECONNAISANCE EXPLORATION SYSTEMATIC EXPLORATION REVEALING HIGH- GRADE ZONES For personal use only 6km 5km Visible rutile and HMS on a track alongside Demonstration of hand auger drilling in Cameroon sample MRAU0001 Higher grade zones ASX:LRM lionrockminerals.com.au Source: Refer ASX announcements d
Slide 8: Scale of Mineralisation Now Extending to Over 2,750km2
SCALE OF MINERALISATION NOW EXTENDING TO OVER 2,750KM2 AT For personal use only MINTA & MINTA EST The Company notes that the drilling has been completed on broad drill spacings to identify higher-grade and higher-value areas. Follow-up infill drilling will be completed ASX:LRM lionrockminerals.com.a
Slide 9: Rutile: Scarce, Green and Premium
For personal use only RUTILE SCARCE, GREEN AND PREMIUM ASX:LRM lionrockminerals.com.au 9
Slide 10: What Is Titanium Used For
WHAT IS TITANIUM USED FOR For personal use only 8% Titanium 88% Metal TiO2 Pigment 4% Source: TZMI ASX:LRM lionrockminerals.com.au Welding 10
Slide 11: Rutile Market Imbalance
RUTILE MARKET IMBALANCE TITANIUM’S PREMIUM FEEDSTOCK Titanium: Critical for a High-Tech Future Rutile: Scarce and Strategic For personal use only Lowest carbon footprint Essential across industries of all titanium feedstocks – critical for decarbonisation pathways pigments, aerospace, medical, elect
Slide 12: Price Differential: Rutile's Unique Value Proposition
PRICE DIFFERENTIAL RUTILE’S UNIQUE VALUE PROPOSITION DEMAND FOR RUTILE BY END USE (2024) For personal use only TITANIUM FEEDSTOCK PRICING BY GRADE (2024) 1,500 11% US$13/TiO2/tonne RUTILE Titanium SYNTHETIC Metal US$ / TONNE FOB RUTILE 1,000 CHLORIDE SLAG SULFATE SLAG 500 US$5/TiO2/tonne CHLORIDE IL
Slide 13: Titanium Feedstock Processing Routes
TITANIUM FEEDSTOCK PROCESSING ROUTES RUTILE, THE MOST EFFICIENT ROUTE TO END-USE For personal use only ASX:LRM lionrockminerals.com.au 13
Slide 14: Oversize Rutile Mineralisation
OVERSIZE RUTILE MINERALISATION POTENTIAL TO SIGNIFICANTLY INCREASE RUTILE GRADES For personal use only Early test work has shown oversize rutile nuggets are easily processable, with no deleterious elements Not currently included in reported HM <1mm >1-2mm >2mm >10mm oversize oversize oversize Confir
Slide 15: The Minta Est Project: High-Value Rare Earths
For personal use only T H E M I N TA E ST P ROJ ECT HIGH-VALUE RARE EARTHS ASX:LRM lionrockminerals.com.au 15
Slide 16: Minta Est: Zone of High-Value Rare Earths-Rich Monazite
MINTA EST ZONE OF HIGH-VALUE RARE EARTHS-RICH MONAZITE For personal use only 21% Zircon Initial results show up to 73% 17% Rutile 36% Monazite monazite in HM assemblage 0.5 - 1.2% in-situ TREO grades NdPr up to 22.5%, DyTb up to 2.7% - strong magnet REE basket Potential in-situ grades of 0.7 - 1.8%
Slide 17: Welcome to Cameroon
For personal use only W E LC O M E TO C A M E RO O N A STABLE, DEMOCRATIC NATION IN CENTRAL WEST AFRICA ASX:LRM lionrockminerals.com.au 17
Slide 18: Cameroon: Stable, Underexplored & Open for Business
CAMEROON STABLE, UNDEREXPLORED & OPEN FOR BUSINESS For personal use only Member of the Commonwealth with a modern mining code (adopted 2024) based on Western frameworks : ▪ 10% free carry to the state upon Mining License ▪ 20% VAT Recent mining license granted to Canyon Resources (ASX: CAY) (bauxite
Slide 19: From Acquisition to Mineral Province
FROM ACQUISITION TO MINERAL PROVINCE THE LION ROCK STORY, BUILDING A MONSTER For personal use only OCT 2024 NOV 2024 FEB 2024 JUN 2025 JUN 2025 JUL 2025 AUG 2025 > 93% of TiO2 Discovery: Strategic Mineralised zone Minta Reconnaissance Discovery: comes from expands to Acquisition program starts 4m @
Slide 20: Board and Management
BOARD AND MANAGEMENT FROM DISCOVERY TO EXECUTION Key Management Non-Executive Board For personal use only ROBERT BOSTON NON-EXECUTIVE CHAIRMAN 2.9b ▪ +20 years’ experience in the resource industry in legal, corporate Shares on issue1 and marketing roles with top tier law firms, BHP Billiton, Rio Tin
Slide 21: Potential Ahead: Poised to Scale. Ready to Deliver.
For personal use only P OT E N T I A L A H E A D POISED TO SCALE. READY TO DELIVER. Roadside stop at random location on Minta Project targeting rutile and monazite. ASX:LRM lionrockminerals.com.au 21
Slide 22: Next Steps: Newsflow on the Road to Mineral Resource Estimate
NEXT STEPS CONSISTENT NEWSFLOW ON THE ROAD TO MINERAL RESOURCE ESTIMATE For personal use only Activity Sept Oct Nov Dec 2026 Ongoing Exploration Rutile assemblage results Commence Infill Drilling Program Maiden Mineral Resource Estimate ASX:LRM lionrockminerals.com.au 22
Slide 23: The Opportunity
THE OPPORTUNITY GLOBALLY RARE RUTILE- UPSIDE FROM OVERSIZE DOMINANT SANDS AND MONAZITE For personal use only ▪ Exceptional heavy mineral ▪ Near-term opportunity to materially composition (>60–70% rutile). enhance overall resource grade ▪ Valued at 6x higher than typical ▪ Multi-commodity upside from
Slide 24: For More Information
For personal use only FOR MORE INFORMATION CASPER ADSON Chief Executive Officer admin@lionrockminerals.com.au ASX:LRM lionrockminerals.com.au 24
Slide 25: Appendix
For personal use only APPENDIX IMAGE: Drying of samples in Cameroon, ready for processing. ASX:LRM lionrockminerals.com.au 25
Slide 26: Infrastructure: Power, Road, Train, Port
INFRASTRUCTURE POWER ROAD TRAIN PORT - ALL WITHIN REACH For personal use only ASX:LRM lionrockminerals.com.au 26
Slide 27: Rutile Supply Scarcity Drives Exploration into Unconventional Locations
THE MINTA RUTILE PROJECT RUTILE SUPPLY SCARCITY DRIVES EXPLORATION INTO UNCONVENTIONAL LOCATIONS For personal use only CAMEROON & MALAWI Residual Rutile Mineralisation Minta's mineralisation is hosted in soft, free-digging saprolite rock, from surface down, within a rutile- CAMEROON enriched, residu
Slide 28: Compelling Rutile-Dominant Mineral Assemblage
THE MINTA RUTILE PROJECT COMPELLING RUTILE-DOMINANT MINERAL ASSEMBLAGE For personal use only APPENDIX 2 : Sampling Results and Location Information RUTILE IDENTIFIED in a panned alluvial sand concentrate sample 4m at 1.05% in-situ rutile from surface in first assayed drill hole at Minta from Dormer
Slide 29: Minta Est: High-Value Magnet Rare Earth Distribution
MINTA EST HIGH-VALUE MAGNET RARE EARTH DISTRIBUTION >25%, WITH SIGNIFICANT DyTb For personal use only Source: Refer ASX announcement dated 19 June 2025 for further information. ASX:LRM lionrockminerals.com.au 29
Slide 30: Cameroon: A Great Place to Operate
CAMEROON A GREAT PLACE TO OPERATE For personal use only ASX:LRM lionrockminerals.com.au 30
Slide 31: Other Projects
For personal use only OTHER PROJECTS ASX:LRM lionrockminerals.com.au 31
Slide 32: Other Projects: Cameroon Uranium
OTHER PROJECTS: CAMEROON URANIUM For personal use only KITONGO & LOLO URANIUM PROJECTS Location Cameroon, West Africa Combined Area Approximately 2,400 km² across six exploration permits Historical Exploration: ▪ Initially explored in the 1970s ▪ Kitongo and Lolo Projects acquired by Mega Uranium Lt
Slide 33: Other Projects: Australia
OTHER PROJECTS: AUSTRALIA For personal use only GREEN ROCKS PROJECT GREEN ROCKS PROJECT MINERALISATION Green Rocks Yendon Kaolin-REE Project (WA) Project (Victoria) Focus Focus YENDON PROJECT Gold and Copper High Purity Alumina (HPA), kaolin and rare earth elements (REEs) Source: Refer ASX announcem
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