Maritana Minerals Limited · ASX:MRT
Maritana Minerals — Horizon Minerals — Mining News Select Sydney 2026
28 slides from Maritana Minerals's conference presentation, Mar 10, 2026
Slide 1: Australia's Next Standalone Gold Producer in the Heart of WA Goldfields
For personal use only Australia's Next Standalone Gold Producer in the Heart of WA Goldfields Investor Presentation March 2026
Slide 2: Important disclaimers
Important disclaimers Nature of Document This Presentation is provided on the basis that neither the Company nor its respective officers, shareholders, Not an offer For personal use only related bodies, corporate, partners, affiliates, employees, representatives or advisers, make any The information
Slide 3: Important disclaimers: Forward Looking and Cautionary Statement
Important disclaimers Forward Looking and Cautionary Statement As noted above, some statements in this Presentation regarding estimates or future events are forward looking statements. For personal use only They include indications of, and guidance on, future earnings, cash flow, costs and financial
Slide 4: Investment proposition
Investment proposition Projects An attractively priced West Australian gold Regional Landholding developer with near-term growth +1,150km² For personal use only Carnarvon Mineral Resource Estimate1 1.9Moz 34.3Mt @ 1.7g/t Au Studies support development of a gold operation 20.2Moz Ag 104kt Zn producin
Slide 5: Positive Black Swan Study Results and Equity Raising
Positive Black Swan Study Results and Equity Raising Fully funded to refurbish Black Swan Processing Hub and For personal use only commence gold production Positive Black Swan study results – a low capital intensity pathway to +100kozpa • Pre-production capital – A$160.5M & ~A$1,500/oz capital inten
Slide 6: Horizon Minerals – at a glance
Horizon Minerals – at a glance An attractively priced West Australian gold developer with near-term growth potential For personal use only Share Trading & Price Capital structure (Post Offer) Units Current Volume Price $2.00 10 Million Share price A$/sh 1.08(1) 8 $1.50 Ordinary shares M 256.4(1) 6 O
Slide 7: Horizon Minerals – Board and Management
Horizon Minerals – Board and Management Key experience in operations and value delivery For personal use only Ashok Parekh Grant Haywood Rob Waugh Warren Hallam Non-Executive Chair Managing Director Non-Executive Director Non-Executive Director Brendan Shalders Isabel Macchia Stephen Guy Adrianna Sk
Slide 8: Project portfolio
Project portfolio Strategically constructed gold portfolio centered around major geological structures For personal use only • Large 1,167km2 land package in an attractive geological setting centred around Kalgoorlie / Coolgardie • 1.9Moz Group Mineral Resource1 (34.3Mt @ 1.7g/t Au) with ~50% contai
Slide 9: Our Strategy
Our Strategy An attractively priced West Australian gold developer with near-term growth For personal use only Now Next 12 months 2027 onwards Toll treatment complete Black Swan refurbishment and gold Production Ore stockpile established Operational de-risking underway processing conversion Mining
Slide 10: Production Ready
For personal use only Production Ready A 1.9Moz Mineral Resource1 with processing infrastructure and growth 1. Refer ASX Announcement “Gold Mineral Resources Update” dated 13 February 2026 10
Slide 11: Black Swan Processing Hub
Black Swan Processing Hub1 PROCESSING Facilitates hub and spoke operating model For personal use only • ~50km northeast of Kalgoorlie • Comminution circuit suitable for gold processing after refurbishment and addition of a carbon in leach (CIL) circuit • Study fully utilises existing 2.2Mtpa process
Slide 12: Black Swan Processing Hub: existing flotation circuit and planned changes
Black Swan Processing Hub Existing flotation circuit and planned changes to facilitate gold production For personal use only REFURBISHMENT FUTURE SULPHIDE CIRCUIT MOTORS - VSD REFURBISHMENT OPTION GOLD CONVERSION LONG LEAD ITEMS ORDERED Au 12
Slide 13: Production ramp-up
Production ramp-up PRODUCTION Cash flow and future baseload open pit feed For personal use only • Boorara stockpile 460kt (14.2koz) – a de- risked startup • Baseload open pit feed with supplementary high grade underground sources • Early mine plan underpinned by high confidence Mineral Resources and
Slide 14: Hub and Spoke Model
Hub and Spoke Model producing 546koz in 5 years Multiple ore sources feeding into the Black Swab Processing Hub1 For personal use only BOORARA S/P & OPEN PIT BURBANKS OPEN PIT 64km 110km Years 1 – 4 106.6koz Years 2 – 5 128.8koz 48 - 80km 42 - 110km CANNON AND PENNYS U/G OTHER OPEN PIT AND U/G BLACK
Slide 15: Benefits of the Black Swan refurbishment
Benefits of the Black Swan refurbishment Faster, cheaper & lower risk For personal use only Refurbishment1 New Build2 ~$100M >$200M Cost 12 months 18 – 24 months Timeline Major approvals in place New permitting required Approvals Reduced environmental footprint Sustainability Higher future impact 1.
Slide 16: Study Outcomes - Robust economic outcomes
Study Outcomes - Robust economic outcomes Strong cash generation and financial metrics For personal use only 546koz $131M maximum C1 Cost AISC gold production LOM capital drawdown A$2,852/oz1 A$3,353/oz1 BASE PROJECT NPV8% 631.3 M Gold Price (+/- 20%) Grade (+/- 20%) Site Opex (+/- 20%) Recovery % (
Slide 17: Key Milestones and Timing
Key Milestones and Timing Pathway to gold production from Black Swan Processing Hub For personal use only CY 2026 CY 2027 Area Work Streams and Deliverables Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Lake Johnston and Phillips Find Corporate Cash Equity Raise - A$175M + SPP Burbanks MRE Update Development & Growth Res
Slide 18: Project Upside
For personal use only Project Upside A 1.9Moz Mineral Resource1 with processing infrastructure and growth 1. Refer ASX Announcement “Gold Mineral Resources Update” dated 13 February 2026 18
Slide 19: Burbanks high-grade underground mine
Burbanks high-grade underground mine GROWTH High-grade ore source not included in the current Black Swan studies & LOM For personal use only • Located on a granted Mining Lease 9km south of Coolgardie, WA • Historic underground mining produced 324koz @ 22.7g/t Au • Large 465.5koz open pit and high-
Slide 20: Black Swan exploration potential
Black Swan exploration potential GROWTH Untested gold anomalies emerging adjacent to the process plant infrastructure For personal use only • Previous exploration largely targeting nickel sulphide mineralisation – only 5% of drill assays have tested for gold • Target areas adjacent to the Mt Monger
Slide 21: Platform for regional consolidation
Platform for regional consolidation GROWTH Several deposits of gold deposits in region are without a clear processing solution For personal use only • Non-producer access to third party gold processing in the Goldfields is becoming increasingly difficult • Conversion of a 2.2Mtpa processing facility
Slide 22: An Emerging Standalone Gold Producer
An Emerging Standalone Gold Producer For personal use only Clear and deliverable Combination of 1.9Moz of business plan to become Mineral Resource1 and to a new standalone WA processing infrastructure gold miner Ramp up of production Studies demonstrate a aligned with strong gold robust initial five
Slide 23: Contact Us
For personal use only Contact Us Grant Haywood Managing Director and CEO +61 (08) 9386 9534 admin@horizonminerals.com.au horizonminerals.com.au PO Box 1064 West Perth WA 6872 23
Slide 24: Mineral Resource Estimate: Gold projects
Mineral Resource1 Estimate Gold projects For personal use only Project Measured Indicated Inferred Total kt Au (g/t) koz kt Au (g/t) . koz kt Au (g/t) koz kt Au (g/t) koz Baden Powell 596 1.20 23 596 1.20 23 Boorara 753 1.21 29 6,485 1.28 266 2,549 1.26 103 9,787 1.27 398 Burbanks OP 1,430 2.02 93 3
Slide 25: Ore Reserve Estimate: Gold projects
Ore Reserve1 Estimate Gold projects For personal use only HORIZON MINERALS GOLD ORE RESERVE SUMMARY Cutoff Proven Probable Total Project Au ppm kt Au g/t Ounces kt Au g/t Ounces kt Au g/t Ounces Boorara 0.5 450 1.1 15,915 1680 1.21 65,357 2130 1.19 81,272 Cannon UG 1 135 4.1 17,700 135 4.1 17,700 Pe
Slide 26: Mineral Resource Estimate: Nimbus silver-zinc project
Mineral Resource1 Estimate Nimbus silver-zinc project For personal use only Nimbus All Lodes (bottom cuts 12 g/t Ag, 0.5% Zn, 0.3g/t Au) Category Mt Ag (g/t) Au (g/t) Zn (%) Ag (Moz) Au (kt) Zn (kt) Measured Resource 3.62 102 0.09 1.2 11.9 10 45 Indicated Resource 3.18 48 0.21 1.0 4.9 21 30 Inferred
Slide 27: Mineral Resource & Ore Reserve disclosure
Mineral Resource & Ore Reserve disclosure Confirmations For personal use only Horizon Gold Mineral Resources The information in this report that relates to Horizon’s Mineral Resources estimates is extracted from and was originally reported in Horizon’s ASX announcements: Project Year Confirmation So
Slide 28: Mineral Resource & Ore Reserve disclosure: Competent Person Statement
Mineral Resource & Ore Reserve disclosure Confirmations For personal use only Non-gold Mineral Resources Competent Person Statement (Reserves) The information is this Presentation that relates to Horizon's exploration results and Mineral Resources estimates was originally reported in Horizon's ASX a