Saturn Metals Ltd. · ASX:STN
Saturn Metals — RIU Resources Round Up (May 2025)
22 slides from Saturn Metals's conference presentation, May 6, 2025
Slide 1: Apollo Hill Heap Leach Gold
Apollo Hill Heap Leach Gold For personal use only Accelerating Feasibility, Development Plans & Exploration Company Presentation: Ian Bamborough ASX:STN www.saturnmetals.com.au Managing Director
Slide 2: Apollo Hill 'Greater' Gold Project
Apollo Hill ‘Greater’ Gold Project Large Strategically Located Assets • Central position in a world class multi-million ounce gold province 60km south-east of Leonora in Western Australia For personal use only • 2.03Moz Measured, Indicated and Inferred JORC Compliant Mineral Resource1 in a single la
Slide 3: Corporate Snapshot
Corporate Snapshot Strong Register – Compelling Value Corporate Metrics & Share Structure Assets Cash at 31 March 2025 $4.5M 3 Placement Tranche One ($16.6) Completed 7 April 2025 +$16.6M EV/Resource oz $51 For personal use only Placement Tranche Two ($6.4M) Shareholder Approval 16 May 2025) +$6.4M
Slide 4: Long Term Strategic Sized Asset With Clear Growth Potential
Long Term Strategic Sized Asset With Clear Growth Potential At Scale: 2.03Moz Resource against St George’s Terrace (Perth, WA) For personal use only 234m 2,500m ASX:STN | www.saturnmetals.com.au 4
Slide 5: Apollo Hill – 2.03Moz Au Resource
Apollo Hill – 2.03Moz Au Resource Big, Single, Simple, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell 6772000N 372000E 6774000N 369000E 6773000N 370000E 6774000N For personal use only Apollo Hill February 2025 Mineral Resource 2,030,000oz (119Mt @ 0.53g/t Au at 0.20g/t Au cut-
Slide 6: Apollo Hill 2025 Mineral Resource & PEA Whittle Shell
Apollo Hill 2025 Mineral Resource & PEA Whittle Shell $3,300 Scalability Low Strip Life of Mine Thick ore zones +100m For personal use only Bulk tonnage Bigger selective mining units, economies of scale and lower operating cost (10m benches); Big Equipment Expanded pit shell to 330m – mode
Slide 7: Simple Metallurgy – Apollo's Biggest Cost Differentiator
Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHING: Efficient & Excellent Low-Cost Recovery RouteA For personal use only Gold Grains +78% gold recovery in columns at completion at 8mm Crush +88% gold recove
Slide 8: Leach Kinetics and Recovery Performance
Leach Kinetics and Recovery Performance Strong & Timely Curves Predictable Finish for Efficient Management of Heap LeachingA For personal use only A Refer Slide 20 ASX:STN | www.saturnmetals.com.au 8
Slide 9: 2023 Preliminary Economic Assessment
2023 Preliminary Economic Assessment Production Target – 1.63Moz via Conventional Heap Leach Circuit Initial Target: 10Mtpa for 10 years from former 1.84Moz Au Mineral Resource For personal use only Life of mine production totals 93.9 Mt at 0.54 g/t for 1,636,000oz of contained gold Average wast
Slide 10: Preliminary Economic Assessment: Low Cost Per Ore Tonne
Preliminary Economic Assessment Low Cost Per Ore Tonne (A$24/t) = Significant Margin on a Large Volume (10Mtpa) – Bulk Mining & Processing Delivers Economies of Scale • C1 Cost A$1,730/oz (US$1,090/oz) For personal use only • ASIC A$1,857/oz (US$1,170/oz) • Mining A$4.50/t (US$2.84/t) (10m bench – l
Slide 11: Preliminary Economic Assessment: Robust Financials
Preliminary Economic Assessment Robust Financials at A$2,665/oz (US$1,679)*0.63 Exchange Gold base case, a Healthy Margin At more recent gold prices (A$3,500/oz), the Project Gold Price A$/oz 2,665 demonstrates outstanding financial outcomes including: Project EBITDA For personal use only A$M 1,038
Slide 12: Resource Comparison
Resource Comparison Peer Group Soledad Mountain, USA Andean Precious Metals Florida Canyon, USA Current Resources firmly place Apollo Hill, AUS Integra Resources Saturn Metals For personal use only Apollo Hill in bulk tonnage economic space: Moss, USA Grade Golden Vertex Corp Scale Tujuh Bukit,
Slide 13: Pre-Feasibility Study
Pre-Feasibility Study Targeting December Quarter 2025 Delivery • Globally renowned Heap Leach specialist engineering services Solution and Mining Offices Storm Water and Workshops Ponds firm, Kappes Cassiday & Associates appointed to complete PFS Waste Dump • Development focussed, operationally expe
Slide 14: Resource Drill Out
Resource Drill Out 60,000m Drill Phase • Assays reported for 25,000m • 35,000m planned and in For personal use only progress • In-fill and extension ASX:STN | www.saturnmetals.com.au 14
Slide 15: Excellent Results – Apollo Hill
Excellent Results – Apollo Hill Extensional and In-fill Focused Drilling Thick and higher-grade intersections from reverse circulation drilling includeA: • 45m @ 1.04g/t Au from 190m within 89m @ 0.74g/t Au from For personal use only 146m – AHRC1010 • 34m @ 1.29g/t Au from 266m – AHRC0973 • 12m @ 2.
Slide 16: Clear Exploration Potential
Clear Exploration Potential Step Out Drilling • Change in drill For personal use only orientation to target intersection of major gold bearing structures at depth • 4 Drill Holes Planned Phase One • Further economies of scale if successful ASX:STN | www.saturnmetals.com.au 16
Slide 17: Regional Opportunities
Regional Opportunities Greenfield Target Areas • ~1,000km2 land package • 16 Prospects discovered to date For personal use only • Large continuous gold system • Large tracts of ground still untested • 5,000m AC phase completed; prospective geology in current drilling – Assays Pending • A Further 12,
Slide 18: Development Plan
Development Plan Timeline To Full-Scale Production 2025 2026 2027 2028 For personal use only Pre-Feasibility Study Definitive Feasibility Study Full Scale Operations *subject to permitting, approvals, funding & investment decision Financing & Procurement Regulatory Approvals Construction & Commissio
Slide 19: Bulk Sample Mining and Pilot Heap Leach Processing Considerations
Bulk Sample Mining and Pilot Heap Leach Processing Considerations Initial Consideration of Staged Development Concepts • The concept of mining and processing a 1.2Mt bulk sample has been evaluated For personal use only • The concept, at the proposed scale and as a stand-alone excise utilising Compan
Slide 20: 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
Slide 21: Appendix A: Mineral Resource – Apollo Hill Gold Deposit
Appendix A Mineral Resource – Apollo Hill Gold Deposit Mineral Resource Tonnes Au Au metal Classification Oxidation (Mt) (g/t) (Kozs) Oxide 0.2 0.58 3 For personal use only Measured Transitional 1.8 0.60 34 Fresh 2.8 0.53 47 Subtotal 4.7 0.55 85 Oxide 1.0 0.50 16 Indicated Transitional 8.3 0.49 131
Slide 22: 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 7,131,000 0.90 2