Caspin Resources Ltd. · ASX:CPN
Caspin Resources — RIU Explorers Conference 2026
20 slides from Caspin Resources's conference presentation, Feb 19, 2026
Slide 1: Company Update
Company Update CASPIN RESOURCES (ASX: CPN) GREG MILES, Managing Director 19 February 2026 www.caspin.com.au
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not
Slide 3: Corporate Overview
CORPORATE OVERVIEW Successful exploration, corporate and capital markets team CPN – ASX Share Performance (6 months) LEADERSHIP TEAM $0.18 4,000,000 Volume Close $ $0.16 3,600,000 $0.14 3,200,000 2,800,000 $0.12 2,400,000 $0.10 2,000,000 $0.08 1,600,000 $0.06 1,200,000 $0.04 800,000 Mr Justin Tremai
Slide 4: Projects
PROJECTS Australian projects offering a diverse mix of BYGOO TIN PROJECT, New South Wales commodities and excellent opportunity to add value • 100% owned through exploration and discovery • Growing a high-grade, open pit tin resource WEETHALLE GOLD PROJECT, New South Wales • Option to earn 80% • Dri
Slide 5: Tin: The original critical metal
Tin: The original critical metal • >50% price growth in 12 months • Longer-term fundamentals supported by growth in electrification COPPER TIN $18,000 $56,000 $16,000 $48,000 $14,000 $40,000 $12,000 $32,000 $10,000 $24,000 $8,000 Copper Price (USD/t) Tin Price (USD/t) $6,000 $16,000 10-Feb-25 10-Mar
Slide 6: BYGOO – An Emerging Tin Project
BYGOO – An Emerging Tin Project In the heart of the Wagga Tin Granite Belt, NSW • 100% ownership of the Bygoo Tin Project covering 1,180km2 • Surrounds the Ardlethan Tin Mine (excised), which was the largest tin mine on mainland Australia, producing >31kt Sn until 1986 Recent announcement of Maide
Slide 7: Maiden Resource Estimate – Kelpie Deposit
Maiden Resource Estimate – Kelpie Deposit A significant step towards a viable mining project • Inferred Mineral Resource Estimate of: 3.94Mt @ 0.5% Sn for 19,300t of contained tin • Very robust estimate based on >20,000m of drilling • Defined within an optimised pit shell to 190m depth 0.5% Sn = V
Slide 8: Very Large Exploration Target
Very Large Exploration Target Major upside to be realised by more drilling • Exploration Target of: 12-20 million tonnes (Mt) grading 0.35-0.50% Sn • Growth in Kelpie to be realised by: Infill drilling between resource lodes Extensions up to 250m along strike to the north and south Depth exten
Slide 9: Excellent Potential to Host a Large-scale Tin Province
Excellent Potential to Host a Large-scale Tin Province Majority of the project yet to be effectively explored • Kelpie Deposit and Exploration Target represent just 5% of the prospective eastern contact of the Ardlethan Granite • 20km of prospective contact, very little modern exploration • Recently
Slide 10: New Target Developing at Ardlethan East
New Target Developing at Ardlethan East Attractive Ardlethan Mine ‘look-a-like’ target • Kelpie Deposit and Exploration Target represent just 5% of the prospective eastern contact of the Ardlethan Granite • 20km of prospective contact, very little modern exploration • Multiple coherent basement geoc
Slide 11: Kelpie Deposit - Metallurgy Results
Kelpie Deposit - Metallurgy Results Excellent Results with simple flowsheet = Competitive Advantage • Clean cassiterite (SnO2) mineralisation • Results compare favourably to every tin mine and development project Recoveries commonly circa 75-80% • Options to develop either a gravity-only or gravit
Slide 12: Kelpie Amenable to Ore Sorting
Kelpie Amenable to Ore Sorting Positive results from first inspection testing at TOMRA • High-grade feed upgrade approximately 3x times with 71% mass rejection • Low-grade feed upgrade approximately 6x times with 92% mass rejection • Only a small volume test, but provides confidence to proceed to bu
Slide 13: Kelpie – A Significant Australian Tin Project
Kelpie – A Significant Australian Tin Project 1 Kelpie is an 1. Peer group represents all ASX listed companies with primary tin assets and First Tin PLC, listed on LSE. exceptional grade 2. MLX Ore Reserve Update 31 January 2025 for an open pit 3. 4. SKY ASX Announcement 23 January 2024 SRZ ASX Anno
Slide 14: Weethalle Gold Project Option
WEETHALLE GOLD PROJECT OPTION Low-cost exposure to large scale IRGS target
Slide 15: An Emerging Tin Project and now Exposure to Gold
An Emerging Tin Project and now Exposure to Gold In the heart of the Wagga Tin Granite Belt, NSW • Option over 80% of the Weethalle Gold Project, a drill-ready, large-scale Intrusive Related Gold target Testing new gold in soil anomalies and geophysical targets Latest drilling results pending 15
Slide 16: Weethalle: Regional Structural Setting Similar to Hemi
Weethalle: Regional Structural Setting Similar to Hemi An exceptional discovery-stage gold project with large scale potential • Weethalle Granite a unique circular Hemi (rotated) Weethalle feature within the Cobar-Wagga Tectonic Zone – similar geometry and size to 12Moz Hemi Deposit in the Pilbara •
Slide 17: Historical gold and silver mining at Euratha
Historical gold and silver mining at Euratha Evidence of high-grade gold • Euratha Lode: 300m strike, 100m deep ~ 1m thick • Very high grades - Average 1-3oz/t gold, up to 5oz/t gold, plus silver • Importantly, abundant sulphides and quartz = receptive for mapping by Induced Polarisation geophysics…
Slide 18: Phase 2 Drilling Program To Commence
Phase 2 Drilling Program To Commence Building on learnings from Phase 1, plus additional new soil geochemistry data • Infill soil geochemistry highlights new target along strike from Euratha workings • Key structural intersection • High-grade gold rock chips at surface • Second target on the ‘Blue R
Slide 19: Caspin’s Investment Proposition
Caspin’s Investment Proposition • Very strong short to long-term outlook for tin • Already a significant tin resource, on track to be the highest-grade open pit tin project in Australia • Metallurgical results demonstrate a competitive advantage – high recovery from a simple flowsheet • 5,000m RC dr
Slide 20: Caspin Resources Limited
CASPIN RESOURCES LIMITED Ground Floor, 675 Murray Street West Perth, Western Australia 6005 T: +61 8 6373 2000 E: admin@caspin.com.au ASX: CPN FOLLOW US: Receive news direct to your inbox Subscribe on the Caspin website www.caspin.com.au QR 26/03/2 4