Apollo Minerals Limited · ASX:AON
Apollo Minerals — Investor Presentation (May 2026)
22 slides from Apollo Minerals's investor presentation, May 2026
Slide 1: Couflens High Grade Tungsten-Gold Project In France
DEVELOPING THE Couflens High Grade Tungsten-Gold Project In France MAY 2026 APOLLOMINERALS. COM CORPORATE PRESENTATION ASX: AON
Slide 2: Investment Highlights
Investment Highlights High Grade Tungsten Well Funded For Aggressive - 2.5% WO3 mined in the mine’s latter years, up Work Programs HIGH GRADE to 8.25% WO3 in rock chip samples at surface - Mined 930kt ore @1.5%, 13,950 WO3 in conc. Recent $6.5 million placement and additional $2.8 million strategic
Slide 3: Couflens High Grade Tungsten Gold Project
Couflens High Grade Tungsten Gold Project Couflens includes the historical Salau Mine which was one of the highest-grade tungsten mines in the world and remains open at depth Mining averaged 2.5% WO3 in its final year of operation. Extensive accessible underground development - significant access du
Slide 4: Geometry Suitable for Mechanised Mining
Geometry Suitable for Mechanised Mining First phase of data review has identified historical intercepts of up to 5.3% WO3 High-grade trend and down dip targets have been identified around the Veronique Zone (average production of 2.8% WO3 during last 6 months of mining) Development Face – 1320 Level
Slide 5: Underground Workings
Underground Workings Abundant Remnant Mineralisation Existing underground development contains exposed disseminated scheelite. Images shown under white light and UV light. (scheelite is the fluorescent blue mineral in UV light). Photos taken of partially-mined workings in February 2026 by the Compan
Slide 6: Extensive, Accessible Underground Development
Extensive, Accessible Underground Development Drive Access Drill Access – 1230 Level Ore Face – 1320 Level Rail Haulage Decline 1230-1320 Levels Ore Face – R15 Cuddy APOLLOMINERALS. COM Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses whe
Slide 7: Near Mine Targets
Near Mine Targets Multiple Near-Mine and Regional Tungsten and Gold Targets Assays from the northeastern margin: - 8.25% WO3 with 1.97g/t Au - 3.24% WO3 with 1.65g/t Au - 4.24% WO3 with 7.65g/t Au - 2.06% WO3 with 9.79g/t Au Gold grades of up to 24.5g/t from rock chip samples at surface Significant
Slide 8: Large Scale Regional Potential
Large Scale Regional Potential Regional Intrusive and Skarn Repeat Potential – Long Section Regional Shearing-Related Gold Trends APOLLOMINERALS. COM ASX: AON | 8
Slide 9: Regional Context
Regional Context Imerys’ Trimouns The French State Toulouse (~110km from Couflens) Talc Project - the has invested offers major industry hubs world’s largest €50m into Imerys’ Airbus in Toulouse is the largest open pit talc Lithium Project, industrial site in the country operation - 50km acquiring a
Slide 10: Multiple Catalysts For Value
Multiple Catalysts For Value Current and Future Work Programs Natural Light Completed Compilation of historical BRGM data Original baseline environmental impact Community engagement assessment studies Environmental permitting Sample from high-grade Salau Mine Geological mapping inside the historical
Slide 11: Global Tungsten Projects
Global Tungsten Projects GRADES (%WO3 ) OF Average grade of projects just 0.3% GLOBAL TUNGSTEN MINES WO3 (Most <= 0.2% WO3) AND PROJECTS* Significant benefits for new high- grade projects to come on-stream Mittersill underground mine in Austria mining at a 0.3% WO3 head grade 0.07 0.10 0.11 0.14 0.1
Slide 12: Strong French and EU Strategic Support
Strong French and EU Strategic Support Couflens Poised to Benefit European Critical Raw Materials Act (CRMA) - 20241 1 Australia & France - 2023 bilateral agreement on critical minerals2 2 Tungsten is listed as both a Critical and Strategic EU raw material within the CRMA Australia and France will w
Slide 13: Governmental Support Progression
Governmental Support Progression Feb 2025 June 2025 November 2025 January 2026 China announces export EU selects 60 EU Strategic France launches €53m Reinstatement of Couflens controls on tungsten Projects including four national Mineral Resources for a 5-year term tungsten projects Inventory progra
Slide 14: Corporate Overview
Corporate Overview ASX: AON | Apollo Minerals 1,254M A$0.07 Ordinary shares on issue Share price Shareholders AU$86.8M Market cap 56% Top 20 Shareholders 8% $8.9M Board & Management Cash* * As of March 2026, Quarterly Report APOLLOMINERALS. COM ASX: AON | 14
Slide 15: Contact Us
CONTACT US Level 9, 28 The Esplanade +61 8 9322 6322 Perth, WA 6000 info@apollominerals.com MAY 2026 APOLLOMINERALS. COM CORPORATE PRESENTATION ASX: AON ABN: 96 125 222 924
Slide 16: Executive & Management
Executive & Management Extensive Development and Mining Experience Ian Middlemas | Non–Executive Chairman Neil Inwood | Managing Director Paul Roberts | Non–Executive Director An experienced Chairman across multiple Mr Inwood is a Geologist with over 30 years’ Mr Roberts has a long, successful histo
Slide 17: Tungsten: A Strategic Metal
Tungsten: A Strategic Metal Tungsten Applications Essential Industrial Metal With Outstanding Properties Fabricated - Highest tensile strength and melting point (3,400°c) of all metals Tungsten Products - Very high density and second strongest material after diamond e.g. electrical & electronic cont
Slide 18: Tungsten: A Critical Defence Material
Tungsten: A Critical Defence Material A critical and strategic defence metal - China concentrated supply – diversification required - China controls global supply ~84% in 2024 - Supply constraints have led to Tungsten APT prices rising to > $2000/MTU in 2026 - Annual usage is ~90,000t per year - Chi
Slide 19: Tungsten & Gold Market Drivers
Tungsten & Gold Market Drivers TUNGSTEN GOLD Tungsten is critical for many industries including $USD/MTU $USD/Oz drilling, automotive, military and aerospace, fueling demand to historic levels China accounts for over 80% of tungsten production, with concerns over the security of supply to western pr
Slide 20: Commitment To Responsible Development
Commitment To Responsible Development Apollo Minerals regards caring for the environment as an integral part of our business and is committed to operating in a responsible manner which minimises our impact on the environment We seek to develop and maintain positive, enduring relationships with our h
Slide 21: Appendix A – Global Tungsten Projects
Appendix A – Global Tungsten Projects Proven Probable Total Proven Measured Indicated Inferred Total Probable Measured Indicated Development Reserves Reserves Reserves Reserve Reserve M&I Inferred Resource Property Name Owner Tonnes Tonnes Tonnes Resource Reserve Grade % Grade % References Stage Ton
Slide 22: Important Notices
Important Notices FORWARD LOOKING STATEMENTS: CAUTIONARY STATEMENTS & IMPORTANT INFORMATION: COMPETENT PERSONS STATEMENT This presentation may include forward-looking statements. These This presentation has been prepared by Apollo as a summary only The information in this presentation that relates t