Great Boulder Resources Ltd · ASX:GBR
Great Boulder Resources — Investor Presentation (May 2026)
43 slides from Great Boulder Resources's investor presentation, May 2026
Slide 1: Emerging Gold Producer, Growing a Multi-Million Ounce Gold Hub
EMERGING GOLD PRODUCER, GROWING A MULTI-MILLION OUNCE GOLD HUB May 2026 | ASX:GBR Not for release to US wire services or distribution in the United States
Slide 2: Great Boulder – A Transformational Transaction
GREAT BOULDER – A TRANSFORMATIONAL TRANSACTION Combination of neighbouring Peak Hill Gold Project from Westgold with GBR’s Side Well Gold Project ✓ GBR to acquire neighbouring Peak Hill Gold Project from Westgold for circa $58 million1 – proven operating asset with historical production ✓ Two major
Slide 3: A Compelling Regional Consolidation
A COMPELLING REGIONAL CONSOLIDATION Side Well Gold Project – GBR existing asset • Mineral Resource Estimate of 1.02Moz @ 2.0g/t Au1,3 • 626,000oz @ 2.8g/t Au Indicated; 395,000oz @ 1.4g/t Au Inferred • Located only 25km from Westgold’s Bluebird Mill • Exploration upside… JORC 2012 Resource ounce dis
Slide 4: Capital Structure & Corporate Overview
CAPITAL STRUCTURE & CORPORATE OVERVIEW Capital Structure Experienced Leadership Team Our team combines over 150 years of mining expertise, with a strong mix Units Current Pro-Forma of technical and corporate background Shares on Issue1,2 M 1,099 1,968 Andrew Paterson 30+ years in mining, exploration
Slide 5: Peak Hill Gold Project Acquisition & Strategic Collaboration with Westgold Resources
PEAK HILL GOLD PROJECT ACQUISITION & STRATEGIC COLLABORATION WITH WESTGOLD RESOURCES (WGX) ASX: GBR 5
Slide 6: Foreword
FOREWORD ‘’The acquisition of the Peak Hill Gold ‘’Westgold has high regard for its Project is transformational for Great Murchison goldfields neighbour, and Boulder. their commitment to becoming a miner. Not only does it add significant gold As such Great Boulder is a logical resources to our exist
Slide 7: Acquisition Overview
ACQUISITION OVERVIEW • Great Boulder to acquire neighboring Peak Hill Gold Project from Westgold for circa $58 million1: • Cash. $25 million in cash • Shares. 391.7 million GBR shares (19.9% post Equity Raising2 of GBR) In addition, parties to • Royalty. 1% NSR royalty interest identify other gold •
Slide 8: Westgold OPA & Strategic Collaboration
WESTGOLD OPA & STRATEGIC COLLABORATION Creates pathway to early production and cashflow Binding Ore Purchase Agreement (OPA) executed with Westgold Westgold and Great Boulder have entered into a Non-Binding Strategic • For the sale of ore from GBR’s Peak Hill Gold Project to Westgold Collaboration t
Slide 9: Significant Resource Growth Potential at Both Projects
SIGNIFICANT RESOURCE GROWTH POTENTIAL AT BOTH PROJECTS • The Peak Hill Gold Project hosts a • The Stage 1 Exploration Target is exclusive of • The Side Well Gold Project hosts a JORC2012 Mineral Resource Estimate¹ of the current mineral resource JORC2012 Mineral Resource Estimate3 of 9.4Mt @ 1.6g/t
Slide 10: Aim: Peak Hill Mining-Ready in 12 Months
AIM: PEAK HILL MINING-READY IN 12 MONTHS Multiple open pits on mining leases, open at depth and along strike Last focused on in sub A$1,500/oz gold Five Ways Mt Pleasant Jubilee Harmony 10
Slide 11: Prolific Gold Mineralisation with Massive Growth Potential
PROLIFIC GOLD MINERALISATION WITH MASSIVE GROWTH POTENTIAL Peak Hill Gold Project • 4 historic open pits • Limited holes across project >100m deep • 3 known multi-km mineralised gold trends • 5 main deposit areas so far – Five Ways, Jubilee, Durack, Harmony, Enigma • Other key areas of focus include
Slide 12: Significant Gold Intersections for Immediate Follow Up
SIGNIFICANT GOLD INTERSECTIONS FOR IMMEDIATE FOLLOW UP Limited drilling along prospective stratigraphy between historic mines • Well defined plunge to high-grade mineralisation at Five Ways1 • Limited drilling in the Jubilee / Treasure area with multiple historic workings exploiting high-grade gold
Slide 13: Jubilee & Five Ways – Open Pits
JUBILEE & FIVE WAYS – OPEN PITS • Shallow, unmined • Drilling at Five Jubilee Five Ways resources at Ways is tightly Jubilee constrained • Down-plunge within the current extensions to Five mine area Ways • Shallow-dipping gold mineralisation continues down plunge, untested by drilling 13
Slide 14: Treasure – High Grade Results for Follow Up
TREASURE – HIGH GRADE RESULTS FOR FOLLOW UP • GBR will be following up high-grade intersections drilled by Westgold in Treasure 20251 which targeted historic workings at Treasure – Consols – Eldorado areas • Drilling data compiled from Westgold Resources 2025 Peak Hill RC drilling program includes:
Slide 15: Mt Pleasant – Harmony - Durack
MT PLEASANT – HARMONY - DURACK Mt Pleasant Harmony Durack • No MRE at Mt Pleasant • Initial MRE1 at Harmony • Initial MRE1 at Durack • Remnant flat-lying, shallow gold mineralisation • Depth extensions to current resource to be tested • 1.7km of high-grade mineralisation • Untested anomalism in near
Slide 16: Side Well Gold Project
SIDE WELL GOLD PROJECT ASX: GBR 16
Slide 17: Fast-Tracking Side Well Towards Production with the Assistance of Westgold
FAST-TRACKING SIDE WELL TOWARDS PRODUCTION WITH THE ASSISTANCE OF WESTGOLD Overview Project with 1.02Moz Located in WA's Proximity to Westgold’s of high-grade gold fastest-growing gold Bluebird and Fortnum region Mills Our advantage Total Resource Mulga Bill @ 2g/t Cut-Off Rapid Resource Growth 16.0
Slide 18: Mulga Bill Deposit
MULGA BILL DEPOSIT High-grade gold mineralisation with massive growth potential Exceptional Drilling Results 6m @ 1.93m @ 14m @ 15m @ 589.44g/t Au 574.39g/t Au 36.12g/t Au 35.82g/t Au from 114m1 from 502m2 from 91m3 from 88m4 Resource Scale Processing Advantages • Current Resource • Exceptional meta
Slide 19: Mulga Bill Deposit
MULGA BILL DEPOSIT Spectacular gold at depth points to massive growth upside Recent results point to high-grade upside below the 2.5km-long combined resource 1.93m @ 574g/t Au Upside Potential Follow-up ~430m below surface Current combined Deep diamond drilling MRE is 782koz is continuing Follow-up
Slide 20: Mulga Bill to Eaglehawk
MULGA BILL TO EAGLEHAWK Projected long section shows the scale of this opportunity Large-scale mineralised system spanning at least three kilometres The combined Mulga Bill- Eaglehawk system spans at least 3km of strike. This is a district-scale gold system, not just individual deposits. The scale a
Slide 21: Ironbark Deposit
IRONBARK DEPOSIT Near-surface, high-grade resource Significant upside potential at low cost High Grade Results, open along strike and at depth Resource High-Grade Drilling 122koz @ 5m @ 12m @ 19.25m @ 2.7g/t Au1 51.65g/t Au 10.24g/t Au 5.22g/t Au from (open to the south) from 106m2 from 120m3 121m4
Slide 22: Unlocking Potential & GBR's Vision
UNLOCKING POTENTIAL & GBR’S VISION ASX: GBR 22
Slide 23: Multi-Rig Programmes to Unlock Potential
MULTI-RIG PROGRAMMES TO UNLOCK POTENTIAL Immediate drilling to commence at Peak Hill Over 60,000m (up to 6 rigs) planned for Peak Hill and Side Well CY 2026 CY2027 Q2 Q3 Q4 Q1 Q2 Peak Hill Acquisition ~20,000m drilling – Side Well (2 to 3 rigs) ~40,000m drilling – Peak Hill (3 to 4 rigs) Resource up
Slide 24: Westgold – Recent Transactions
WESTGOLD – RECENT TRANSACTIONS Delivering exceptional shareholder return • Westgold (WGX) became a substantial shareholder (16%) • Westgold (WGX) became a substantial shareholder (19.9%) • Ore Purchase Agreements provided a pathway to a capital light production model • Excellent regional infrastruct
Slide 25: Great Boulder's Vision
GREAT BOULDER’S VISION Transformational Transaction to create a Murchison Powerhouse Peak Hill Gold Project ✓ Rapid Resource Growth – Updated JORC (2012) Mineral Resource Estimate (MRE) within 6 months1,2 ✓ Exploration Upside - significant drill campaigns outside of known deposit extensions on highl
Slide 26: Peak Hill Gold Project – Equity Raising Overview
PEAK HILL GOLD PROJECT – EQUITY RAISING OVERVIEW ASX: GBR 26
Slide 27: Equity Raising Overview
EQUITY RAISING OVERVIEW Offer Size A$40 million Offer Structure Two-tranche institutional placement to raise A$40 million (before costs) ("Placement" or "Offer") • The Placement will comprise the issue of approximately 470.6 million new fully paid ordinary shares ("New Shares"): • Tranche 1 of ~145.
Slide 28: Sources & Uses
SOURCES & USES Sources A$M Existing Cash (31 March 2026) A$12 Equity Raising Proceeds A$40 Total Sources A$52 Uses A$M Cash Consideration for Acquisition A$25 GBR $25m net cash balance 40,000m multi-rig drill program at Peak Hill post acquisition and 20,000m multi-rig drill program at Side Well plac
Slide 29: Pro-Forma Capital Structure
PRO-FORMA CAPITAL STRUCTURE Units Current Pro-Forma Shares on Issue M 1,099 1,968 Options on Issue M 54.5 54.5 Equity Raising Issue Price A$M $0.085 $0.085 Market Capitalisation (at Issue Price) A$M $93.4 $167.3 Cash A$M $12.0 $25.0 Debt A$M Nil Nil Net Cash A$M $12.0 $25.0 Enterprise Value A$M $81.
Slide 30: Indicative Acquisition/Equity Raising Timetable
INDICATIVE ACQ./EQUITY RAISING TIMETABLE Item Date Trading halt Monday, 4 May 2026 Announcement of Acquisition Monday, 4 May 2026 Announcement of completion of the Placement Tuesday, 5 May 2026 Settlement of Tranche 1 (T1) Placement Tuesday, 12 May 2026 Quotation of T1 Shares Wednesday, 13 May 2026
Slide 31: Important Information
IMPORTANT INFORMATION Purpose of presentation: This presentation has been prepared by Great Boulder Resources Limited (ACN 611 695 955) (GBR). It is intended for the sole purpose of providing high-level background information on GBR, its projects and its proposed operations. This presentation is not
Slide 32: Important Information
IMPORTANT INFORMATION IMPORTANT INFORMATION Not an offer of securities This presentation does not constitute an offer to sell, or a solicitation of an offer to buy any securities in any jurisdiction. The distribution of this presentation and the offer of securities is restricted in jurisdictions out
Slide 33: End
END ASX:GBR | GREATBOULDER.COM.AU 33
Slide 34: Key Risks
KEY RISKS Risk specific to the Placement The Placement is being undertaken in two tranches. The second tranche Placement is subject to shareholder approval of the issue of the second tranche Placement shares and the issue of the Consideration Shares to Westgold, and completion of the acquisition of
Slide 35: Key Risks
KEY RISKS Joint venture and contract counterparty risks Some of the Company’s interests in its projects arise through joint venture interests held by the Company. The Company has also entered into, or has been assigned rights under, contract, including access arrangements, with third parties and rel
Slide 36: Foreign Offer Restrictions
FOREIGN OFFER RESTRICTIONS This document does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any count
Slide 37: Foreign Offer Restrictions
FOREIGN OFFER RESTRICTIONS Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission in Hong Kong pursu
Slide 38: Foreign Offer Restrictions
FOREIGN OFFER RESTRICTIONS Switzerland The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering or marketing material relating t
Slide 39: Side Well
SIDE WELL Mineral Resource Estimate Updated – December 2025 Mineral Resource Estimate incorporating all drilling to Sept 20251,2 Resource quality Indicated Inferred Total Tonnes Ounces Tonnes Ounces Tonnes Ounces metrics significantly Deposit (kt) Grade (g/t) (Au) (kt) Grade (g/t) (Au) (kt) Grade (g
Slide 40: Peak Hill
PEAK HILL Peak Hill Resource Estimates Peak Hill JORC 2012 Mineral Resource Estimates1,2 Grade Current mineral resource estimates are Deposit Classification Tonnes (g/t Au) Ounces Cut-off parameters quoted at various cut-off grades between Harmony Indicated 939,000 1.8 55,000 Reported at 0.8g/t Au a
Slide 41: Peak Hill
PEAK HILL Exploration Target Exploration Target Range From Exploration Target Range To Prospect Tonnes Grade Ounces Tonnes Grade Ounces Harmony 5,360,000 0.9 147,000 5,850,000 0.9 174,000 Enigma 1,210,000 1.4 61,000 1,450,000 1.6 72,000 Jubilee 640,000 1.3 28,000 770,000 1.4 34,000 Durack 2,670,000
Slide 42: Summary Table – Peak Hill
SUMMARY TABLE – PEAK HILL Joint Venture Interests Drill Results Table Selected highlights from 2025 RC drilling by Westgold Resources1 Tenement Ownership Hole ID From To Width (m) Grade (g/t Au) 25PKRC022 19 29 10 18.79 E52/2471 85% Aragon Resources, 15% Walter Scott Wilson Including 21 26 5 36.93 I
Slide 43: Sources
SOURCES Measured Resource Indicated Resource Inferred Resource Total Resources Tonnes Grade Au Contained Tonnes Grade Au Contained Tonnes Grade Au Contained Tonnes Grade Au Contained Company Project (kt) (g/t) Au (koz) (kt) (g/t) Au (koz) (kt) (g/t) Au (koz) (kt) (g/t) Au (koz) New Crown Murchison P
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