Zuleika Gold Limited · ASX:ZAG
Zuleika Gold — Merger or Acquisition (June 2026)
19 slides from Zuleika Gold's merger presentation, Jun 26, 2026
Slide 1: CZR Resources and Zuleika Gold to Merge via recommended Takeover Offer
rsonal use only CZR Resources and Zuleika Gold to Merge via recommended Takeover Offer To be read in conjunction with ASX announcement, “CZR Resources and Zuleika Gold to merge via recommended Takeover Offer” released 26 June 2026 26 June 2026
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer Important Information rsonal use only This joint presentation has been prepared by CZR Resources Limited (CZR) and Zuleika Gold Limited (Zuleika). This presentation has been prepared in relation to the proposed acquisition by CZR of Zuleika by way of an off-market ta
Slide 3: Important Notices and Disclaimer – Forward-looking statements
Important Notices and Disclaimer Forward-looking statements rsonal use only This presentation may contain forward-looking statements regarding CZR, Zuleika and their projects. Forward-looking statements may in some cases be identified by terminology such as “may”, “will”, “could”, “should”, “expect”
Slide 4: Transaction Highlights
rsonal use only Transaction Highlights Compelling Premium – The Implied Offer Price represents an implied premium of 32.9%1 1 to Zuleika’s 30-day VWAP. Financial Strength and No Near-Term Capital Raising Requirements – The combined group will benefit from both CZR’s and Zuleika's strong balance shee
Slide 5: Transaction Rationale
Transaction Rationale • Reduces corporate overheads rsonal use only • Increases cash balance which will give flexibility & opportunity for acquisitions • Diversifies location, asset maturity and commodity risk and opportunity • Recognises seasonal differences for managing field work, staffing and eq
Slide 6: Details of the Offer
Details of the Offer CZR has entered into Bid Implementation Deed (“CZR”) to acquire Zuleika Gold (ASX: ZAG) for a total consideration of $44.8 Million1. Under the all scrip, off-market takeover offer (Offer), Zuleika shareholders will receive 0.1742 CZR shares for every one (1) Zuleika share, which
Slide 7: Pro-Forma Capital Structure
rsonal use only Pro-Forma Capital Structure Unit CZR ZAG Combined Spot Share Price / Implied Price $ 0.20 0.03 0.20 (Combined) (25 June 2026) No. of Ordinary Shares (25 June M 239.4 926.9 425.3 2026)1 Market Capitalisation – undiluted $M 47.9 27.8 85.11 (25 June 2026) Cash and liquid investments (31
Slide 8: Indicative Timetable
Indicative Timetable Action Date rsonal use only Execution and announcement of BID Friday, 26 June 2026 Bidder’s Statement lodged with ASIC Friday, 14 August 2026 Target’s Statement lodged with ASIC Friday, 14 August 2026 Dispatch Bidder’s Statement and Target’s Statement to Zuleika shareholders Wed
Slide 9: Combined Asset Portfolio
Combined Asset Portfolio • Pilbara rsonal use only Croydon Yarrie Yarraloola Shepherds Well • Mid-West Buddadoo • Eastern Goldfields Credo Zuleika • Listed Investments Approximately 4.2 millions shares in Catalyst Metals Limited (ASX:CYL) 9
Slide 10: Croydon – Flagship Gold & Copper Project
Croydon Flagship Gold & Copper Project rsonal use only Advanced gold and copper targets 50 km from Northern Star’s 11.2Moz Hemi Gold Project1 • Top Camp 7,000 m RC and DD resource definition program currently underway Initial metallurgical test work underway • Bottom Camp Major gold-arsenic an
Slide 11: Yarrie – Iron Ore and Base Metals/Gold Opportunity
Yarrie Iron Ore and Base Metals/Gold Opportunity rsonal use only Tenure located adjacent to world-class Shay Gap and Yarrie historic mining operation owned by BHP • Defined untested Iron Ore prospects with limited historic drilling Cabbage Tree – Prospect Kennedy Gap – Extension to BHP’s Y10 dep
Slide 12: Yarraloola – Strategic Iron and Magnetite Asset
Yarraloola Strategic Iron and Magnetite Asset rsonal use only Large tenure package surrounding Rio Tinto’s Robe Valley Operations: • Outcropping channel iron deposit (CID) mineralisation at Peters Creek and Darnell • Priority target Peters Creek, located adjacent to road infrastructure and with grab
Slide 13: Buddadoo – Multi commodity project
Buddadoo Multi commodity project in highly prospective region rsonal use only Hosts the Buddadoo vanadium-titanium magnetite project and the Edamurta copper project: • Ideally located close to bulk mineral export port of Geraldton (260 km) with good road and rail infrastructure • Buddadoo mafic comp
Slide 14: Zuleika – Strategic tenure in Kundana–Ora Banda district
Zuleika Strategic tenure in the gold-rich Kundana–Ora rsonal use only Banda district of the Kalgoorlie Goldfield • Located 30 km northwest of Kalgoorlie in the Eastern Gold Fields, within the Norseman-Wiluna Greenstone Belt • Historic production of > 20 Moz of gold from the broader Zuleika Shear are
Slide 15: Credo
Credo Credo Well Resource of 289 kt at 2.4 g/t Au rsonal use only for 22.5 koz1 • Located just 10 km west of the Paddington Processing Facility • Initial Resource, open at depth and along strike • Excellent opportunity from Resource growth and further upside from exploration for repeat mineralizatio
Slide 16: Zuleika – Paradigm East Maiden Resource
Zuleika Paradigm East Maiden Resource of 288 kt at 1.4 g/t Au for 12.6 koz1 rsonal use only • Located ~ 60 km northwest of Kalgoorlie and just 1.5 km east of the NST Paradigm Gold Mine • Significant intercepts including 24 m at 6.4 g/ t Au (DPEAC021)2 and 4 m at 17.5 g/t Au (DPEAC087)3 over a 1.8 km
Slide 17: Zuleika Exploration Corridor
Zuleika Exploration Corridor rsonal use only The district comprises several historical and current operating mines which have produced ~20 Moz of gold to date • Strong upside from aggressive exploration targeting the prolific Zuleika and Carnage Shears • Data compilation at Zuleika North shows encou
Slide 18: Proposed Directors & Management
Proposed Directors & Management Russell Clark - Non-Executive Chairman Grant McEwen - Non-Executive Director rsonal use only Mr Clark has more than 45 years’ global experience in board, senior corporate, operational and Mr Grant McEwen is a highly experienced geologist with over 40 years in the reso
Slide 19: rsonal use only
|.CZR WWW.cCzrresources.com_ ASx:ZAG www.zuleikagold.com.au 19