Ariana Resources Plc · LSE:AAU
Ariana Resources — Africa Down Under 2026
19 slides from Ariana Resources's conference presentation, September 2026
Slide 1: Discover, Develop & Deliver
Discover, Develop & Deliver Building a multi-asset gold company in Africa and Europe September 2026: Africa Down Under AAU AA2 ARIANA RESOURCES PLC | APRIL 2025 1
Slide 2: Disclaimer and Important Notices
Disclaimer and Important Notices DISCLAIMER Th e in fo rmatio n provided in this pre sentation an d any accomp anyin g ve rb al prese ntatio n (to gether, the “Prese ntatio n Materials”) have be en FORWARD LOOKING STATEMENTS prep ared by Ariana Res ources p lc ("Ariana" o r th e "Co mpany") as at Ma
Slide 3: Multi-asset gold company entering transformational growth phase
Discover, Develop & Deliver Multi-asset gold company entering transformational growth phase • Established track-record of successful project discovery, development and delivery over +20-years • Poised for next growth phase, transitioning from successful exploration/development into a multi-asset gol
Slide 4: Multi-asset Portfolio
Multi-asset Portfolio Assets positioned at different stages of the mining cycle FLAGSHIP ASSET OTHER ASSETS DOKWE PROJECT | 100% Owned SE EUROPE PROJECT INTERESTS A DEVELOPMENT | ZIMBABWE B MINING | TÜRKIYE EXPLORATION | KOSOVO, CYPRUS • Transformational growth opportunity B Progressive divestment f
Slide 5: Corporate Overview
Corporate Overview Financial position, shareholder base and management CAPITALISATION SUMMARY SHAREHOLDERS Share price (CDIs) A$0.29 CDIs on issue (1 CDI = 10 Ordinary Shares) 48.8m 3% Newmont Mining Corp. 11% Share price (Ordinary Shares)1 £0.017 (Strategic Investor) Shares on issue (including CDIs
Slide 6: Zimbabwe Focus
Zimbabwe Focus Multi-decade exploration success and deep in-country expertise ESTABLISHED MINING JURISDICTION SHARED TECTONISM: ZIMBABWE & YILGARN CRATONS 1 • Zimbabwe Craton (area: 300,000km2) - similar geological endowment to the Yilgarn Craton in WA but with minimal levels of exploration in past
Slide 7: Dokwe: Discovery
Dokwe: Discovery Identification of multi-million ounce opportunity through systematic exploration DISCOVERY HISTORY • Highly prospective greenstone belt extension identified under later cover in an area with no artisanal or ancient mining • Dokwe discovered through innovative soil geochemistry under
Slide 8: Dokwe: Development
Dokwe: Development Low strip, open-pit gold mine with CIL processing DOKWE PROJECT DESCRIPTION DOKWE PROJECT OVERVIEW • Project located within granted mining claims (100% owned), providing a clear pathway through development to production • Comprises the Dokwe North and Central deposits, now being a
Slide 9: Dokwe: Pre-feasibility Study
Dokwe: Pre-feasibility Study Compelling economic outcomes from the updated PFS MATERIAL ORE RESERVE LIFE OF PROJECT (LoP) STRONG PRODUCTION PROFILE NPV10 (Pre-tax) INCREASE Plant throughput US$1,056M (A$1,509M) c.42% to 1.13Moz 2.5Mtpa 20 years 1 Peak p.a. production 100,000oz NPV10 (Post-tax) Poten
Slide 10: Dokwe: PFS Plant Layout
Dokwe: PFS Plant Layout Xinhai conceptual plant layout for 2.5Mtpa Dokwe operation • Infrastructure 10
Slide 11: Project Economics
Dokwe: Project Economics Robust economics and low CAPEX hurdle KEY ECONOMIC METRICS ANNUAL GOLD PRODUCTION PROFILE 1 2.5 120 Processed Ore (Mt) Recovered Ounces (Koz) Metric Unit PFS Outcome 2.0 100 Gold Price US$/oz 4,250 80 Life of Mine (LoM) Years 12 1.5 60 Life of Project (LoP) Years 20 1.0 Pre-
Slide 12: Dokwe: Mining Plan
Dokwe: Mining Plan Two main open-pits with expansion potential KEY MINING METRICS MINED MATERIAL BY PIT STAGE (MBCM) 4.0 Measure Units PFS 3.5 Waste MBCM 69.6 3.0 Ore Volume MBCM 17 2.5 Total Material Volume MBCM 86.6 2.0 Strip Ratio (inc. Inferred) Ratio 3.7 1.5 1.0 Ore Tonnes Mt 47.6 0.5 Ore Grade
Slide 13: Dokwe: Processing Plan
Dokwe: Processing Plan CIL processing with simple metallurgical characteristics PROCESSING OVERVIEW PROCESSING PLANT CAPITAL COST ESTIMATE (US$) • 2.5Mtpa nameplate capacity for the CIL processing facility, with flotation Item PFS (US$M) and intensive leach expected in later years EPC & Project Mana
Slide 14: Dokwe: Feasibility Programme
Dokwe: Feasibility Programme Supported by industry recognised consulting and engineering groups Consulting Group1 Country Services Offers seamless, end-to-end solutions across the mining Australia, Xinhai Mining lifecycle—from investment and mine development to EPC China delivery of processing plant
Slide 15: Dokwe: Planned Timeline
Dokwe: Planned Timeline Fast-tracking Dokwe to delivery CY2026 CY2027 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ongoing optimisation of Dokwe costs and strategy Exploration & Resource Drilling Water Borefield Drilling Metallurgical Testwork (Xinhai) Metallurgical Testwork (IMO) Environmental Impact Assessment DFS (Xinha
Slide 16: Delivery Track-record
Delivery Track-record Selection of successful project deliveries in Türkiye KIZILTEPE CIL PROCESSING1 • Consistent guidance-beating gold-silver production from 2017 to 2026; up to 28,000 ounces gold per annum for total of 162,000oz Au • Originally developed as part of the Zenit Madencilik JV with pa
Slide 17: Summary
Summary Opportunity, upside and a consistent track-record of delivery Successful mineral project development company with a 1.6Moz OUTSTANDING VALUE Resource and 1.1Moz Reserve and an EV/Resource and EV/Reserve of PROPOSITION A$23/oz and A$32/oz, respectively 1 LOW CAPEX HIGH MARGIN Robust PFS econo
Slide 18: Discover, Develop & Deliver
Discover, Develop & Deliver Building a multi-asset gold company in Africa and Europe 5th Floor, 16 Great Queen Street, Covent Garden, London, WC2B 5DG, United Kingdom +44 (0)203 476 2080 info@arianaresources.com 18
Slide 19: Additional Statements
Additional Statements Competent Person and Compliance Competent Persons Statements Compliance Statements The information in this announcement relating to the Mineral Resource The information in this announcement relating to Mineral Resources, Ore Estimate at the Dokwe Gold Project is based on, and f