Slide 1: Katanning Gold Project, WA 2025 Definitive Feasibility Study
Katanning Gold Project, WA 2025 Definitive Feasibility Study Strong Gold Production and Excellent Financial Returns over a 10-Year Mine Life John Dorward, Executive Chairman 30 June 2025 ASX: AUC FRA: AU4
Slide 2: Disclaimer
Disclaimer Important Information The following notice and disclaimer applies to this investor presentation (“Presentation”) and you are therefore advised to read this carefully before reading or making any other use of this Presentation or any information contained in this Presentation. By accepting
Slide 3: Disclaimer
Disclaimer Forward looking statements and forecasts This Presentation contains certain “forward-looking statements” and comments about future matters. Forward-looking statements can generally be identified by the use of forward-looking words such as, “expect”, “anticipate”, “likely”, “intend”, “shou
Slide 4: Delivering Australia's next significant mid-tier gold project
Delivering Australia’s next significant mid-tier gold project • Life-of-mine gold production of 1.14Moz over 10 years • Post-tax cashflow of A$1.37B and IRR of 53% • Immediately moving ahead with project financing and implementation 4
Slide 5: Long-life, low-risk operation in a Tier-1 jurisdiction
Long-life, low-risk operation in a Tier-1 jurisdiction • Definitive Feasibility Study (DFS) for the Katanning Gold Project delivered on time and on budget • Initial 10-year open pit mine in the Tier-1 mining district of Western Australia • Rapid payback period of 13 months from first production, bas
Slide 6: Katanning DFS Highlights
Katanning DFS Highlights Australia’s next major gold mine transitioning to development Life-of-Mine Production Profile Gold Recovered (koz) Grade (g/t) 1.38 1.29 1.26 1.33 1.16 1.08 1.09 0.90 2.00 0.67 0.83 150 1.00 Robust Resource Significant and Reserves Production 0.00 Gold Recovered (Koz) 125 (1
Slide 7: Mine Schedule
Mine Schedule Robust mine plan to justify CapEx and create a strategic standalone operation Ore Mined And Processed Stockpile (kt) Ore Mined (kt) Ore Processed (kt) 4,000 Excess mill capacity in later 3,000 years provides Ore (kt) flexibility to 2,000 process additional tonnes from 1,000 Reserve gro
Slide 8: Project Costs and Economics
Project Costs and Economics Robust Costs Underpin Outstanding Cash & AISC Margin (A$/oz) Economics Assumptions Unit Years 1-4 Years 1-10 Waste Mined Ktpa 30,887 23,582 Ore Mined Ktpa 4,051 3,481 AISC Margin Cash Margin Mining = $2,127 = $2,035 Total Material Moved Ktpa 34,938 27,063 C1 Site Margin -
Slide 9: Katanning – Low-Cost Production
Katanning – Low-Cost Production Positioned in the Lower Half of the Cost Curve Cost Curve – Australia and New Zealand Gold Mines Quartile 1: Quartile 2: Quartile 3: Quartile 4: A$1,226 – A$2,126 A$2,126 – A$2,380 A$2,380 – A$2,703 A$2,703 – A$3,687 Macraes 4,000 Mount Monger Murchison Duketon South
Slide 10: Cashflows & Sensitivity
Cashflows & Sensitivity Gold Price Sensitivities Robust Economics and Significant Leverage to Gold Price A$5,000 $1,913 Post-Tax Free Cashflow (A$m) A$4,500 $1,525 FCF 400 2,000 Post A$4,300 Base Case $1,369 Free Cash Flow Cumulative FCF (RHS) Tax 300 1,500 (A$m) A$4,000 $1,136 Cumulative Free Cash
Slide 11: Delivering long-term regional benefits
Delivering long-term regional benefits Drive-in, drive-out Peak construction Wage and salary payments* workforce of workforce of over LOM of ~350 people ~250 FTE jobs ~$657M Western Australian gold Western Australian payroll Service and supply royalty payments of tax payments of contracting opportun
Slide 12: Updated Resource: More robust, more rigorous, ready for mining
Updated Resource: More robust, more rigorous, ready for mining Updated MRE of 69Mt @ 1.11g/t Au for 2.44Moz Constrained to A$4,500/oz optimised pit shell Cut-off grade of 0.35g/t Au supported by DFS financial modelling • More conservative pit shell constraint versus previous MRE, which was only dept
Slide 13: Updated Reserve: More robust, more rigorous, ready for mining
Updated Reserve: More robust, more rigorous, ready for mining CONTAINED • Updated Ore Reserve of 35.2Mt at 1.11g/t Au for 1.25Moz CATEGORY TONNES (MT) GRADE (G/T AU) GOLD (OZ) • Significantly de-risked with ~84% classified as Proven PROVED 27.6 1.15 1,015.3 CENTRAL • Conservative A$3,000/oz gold pri
Slide 14: Processing: Straightforward
Processing: Straightforward 3.6Mtpa CIL Gold Plant • Conventional single stage crush, SAG and ball mill configuration to produce 80% passing 75 µm • Gravity recoveries of 25% LOM • Hybrid CIL circuit comprising two leach tanks and six CIL adsorption tanks • Design criteria facilitates future plant e
Slide 15: Permitting Underway
Permitting Underway Straightforward project in Tier 1 jurisdiction • Project footprint designed to minimise disturbance to established eucalyptus woodland areas • Tailings Storage Facility (TSF) and main waste dump to form an Integrated Landform to minimise footprint and optimise post-closure landfo
Slide 16: Next Steps: Resource Growth & De-risking
Next Steps: Resource Growth & De-risking Advancing the KGP toward development Ongoing drilling targeting growth and de-risking of Resource 1. Open Pit Growth ‘Low hanging fruit’ down-dip and down-plunge of Jinkas- White Dam lodes, where pit optimisations are constrained by drill density 2. Undergrou
Slide 17: Regional Exploration
Regional Exploration Large regional land package under Ausgold ownership • +3,500km2 of high-quality exploration tenure surrounding the KGP • Captures almost the entire Katanning Greenstone Belt and all known mineralised trends • Drilling during FY26 will test key regional prospects with the aim of
Slide 18: Development project comparison
Development project comparison KGP compares favourably on operating and financial metrics vs development peers Murchison Mandilla Apollo Hill Mt Gibson Katanning Development Stage Ramp Up PFS SS PFS DFS State/Province WA WA WA WA WA Mine Type OP/UG OP OP OP OP Total Resource (AuEq.) 1,235 1,761 2,03
Slide 19: Next Steps: Upcoming News Flow and Key Milestones
Next Steps: Upcoming News Flow and Key Milestones Advancing the KGP toward development • Progressing land access – Plaints 688801 and 719694 scheduled for a 10-day hearing in August • Continued community engagement and consultation with local community groups • Early engineering works to allow order
Slide 20: On track to become Australia's next mid-tier gold producer
On track to become Australia’s next mid-tier gold producer High Quality Project Dominant Landholding Strong Team to Deliver Infrastructure • Open-pit • >3,500km2 of tenure • Track record of value-creation • Mining Permit • Straightforward CIL plant • Includes mineralised trends • Refreshed board wit
Slide 21: Corporate Overview
Corporate Overview Capital Structure Share Price $0.90 2.5M Shares on Issue (M) 357.4 $0.80 Unlisted Options (@ A$0.40-0.80) (M) 9.7 $0.70 2.0M Unlisted Warrants (@ A$0.30) (M) 8.8 $0.60 1.5M $0.50 Performance Rights (M) 14.2 $0.40 1.0M Share Price (A$/s) $0.765 $0.30 $0.20 0.5M Market Capitalisatio
Slide 22: ASX: AUC FRA: AU4 www.ausgoldlimited.com
ASX: AUC FRA: AU4 John Dorward, Executive Chairman Ausgold Limited T: (08) 9220 9890 Level 1, 307 Murray Street, Perth WA 6000 info@ausgoldlimited.com www.ausgoldlimited.com 22
Slide 23: Appendix
Appendix 23
Slide 24: Katanning Gold Project – Getting the Basics Right
Katanning Gold Project – Getting the Basics Right The ‘To Do List’ Initiate and Complete Project Permitting • Permit applications planned for July 2025 1. Permit • Community Shopfront opened in Katanning in December 2024 • Community Reference Group established in early 2025 • Regional Shires Forum e
Slide 25: Progress the Permitting and Approvals Process
Progress the Permitting and Approvals Process A business priority Well-defined Western Australian State and the Federal approvals process: • WA's Environment Protection Authority (EPA), Department of Water & Environmental Regulation (DWER) and Background Department of Energy, Mines, Industrial Relat
Slide 26: Finalise Land Access
Finalise Land Access Land Access Securing freehold land and access for mining operations • 1,026 hectares of freehold land acquired for A$10.8M in June 2024 – encompassing the southern extent of the Central Zone Resource (Jinkas, Jinkas South and Jackson) • Majority of Ausgold-owned land will host t
Slide 27: Demonstrating Potential
Demonstrating Potential • Strong track record of Resource growth • Opportunities for growth across multiple frontiers: • Resources open along strike to the north and south • Potential for repeat structures in the immediate vicinity of the KGP • Opportunities for high-grade satellite feeders through
Slide 28: Resource Growth & Demonstrating Potential
Resource Growth & Demonstrating Potential 19,000m drill program including 12,000m of RC drilling proximal to KGP to de-risk and grow the Resource De-risk De-Risk – Grade Control / In-fill • De-risk early stage planned production within the Central Zone • Key step to enhance bankability Growth Expand
Slide 29: Resource De-risking
Resource De-risking Central Zone Maiden Grade Control program completed with 90 holes drilled for 4,935m in the southern portion of the Central Zone (see image). The pattern drilled the area to at least 10m hole spacing by 10m line spacing, at the core of this pattern an area of staggered 5m holes f
Slide 30: Resource De-risking
Resource De-risking An independent review of grade control results in 2025 by SRK confirmed: • Tighter drill spacing generally leads to better grade and ounces in terms of selection performance • 5m x 10m drill spacing provides excellent estimation accuracy, with 10m x 10m spacing performing well al
Slide 31: Resource Growth
Resource Growth Central Zone • Resource Definition drilling completed with 27 holes drilled for 2,076m on the Jinkas and Jackson trends aimed at extending the current Resource • Significant results from this drilling includes: • 17m @ 0.83g/t Au from 124m, including 2m @ 1.89g/t Au from 129m in BSRC
Slide 32: Resource Growth
Resource Growth Southern Zone • Resource Definition drilling completed in the northern 1km area of Lukin • Results consistent with the continuation of lower-grade shallow mineralisation • Drilling will facilitate Resource growth at Lukin, comprising entirely of near-surface ounces • Key prospective
Slide 33: Resource Growth
Resource Growth Northern Zone • Located 5km north of the Central Zone Resource • Situated on a major cross-fault which has re-orientated the KGP mine stratigraphy by 90° to a NE-SW orientation • Datatine is host to some of the KGP’s highest grade gold lodes, with drilling in 2023 returning: • BSRCD1
Slide 34: Regional Potential
Regional Potential Over 3,500km2 of high-quality exploration tenure • 2,500km2 of newly identified greenstone belts • Three NNW-striking major structures associated with up to 100km surficial gold anomalism 7,000m of RC drilling completed across 7 regional prospects across the exploration tenure wit
Slide 35: Regional Potential
Regional Potential Significant results from Zinger include: • 3m @ 11.26g/t Au from 0m in 01NBV082 • 6m @ 2.98g/t Au including 3m @ 4.14g/t Au from 15m in 01NBVR149 • 9m @ 1.74g/t Au from 12m including 6m @ 2.53g/t Au from 6m in 01NBVR011 • 6m @ 1.66g/t Au from 24m in 01NBVR377 • 6m @ 1.18g/t Au fro
Slide 36: Delivering the Katanning Gold Project, WA
Delivering the Katanning Gold Project, WA Progressing towards a new top-tier Australian gold operation Developing a Large Stand-alone Gold Operation Capable of Producing +130kozpa • Design throughput of 3.6Mtpa Katanning Gold Project • 10-year LOM with strong gold production in first four years unde
Slide 37: Katanning Overview
Katanning Overview ~..... [Yaekson | | A
Slide 38: Greenstone Belt Tenements by Project
Greenstone Belt Tenements by Project Controlling the largest tenement holdings in the Southwest Yilgarn • Ausgold controls the largest land tenements in the Southwest Yilgarn with over 3,500km2 of land covering over 100km strike of underexplored greenstones Comparison to other WA Gold Companies (km2
Slide 39: Appendix: Supporting Peer Resource & Reserve Information
Appendix: Supporting Peer Resource & Reserve Information Measured Indicated Inferred Total Mineral Resource ASX Tonnes Grade Gold Tonnes Grade Gold Tonnes Grade Gold Tonnes Grade Gold Estimate ASX Release (Mt) (g/t) (Koz) (Mt) (g/t) (Koz) (Mt) (g/t) (Koz) (Mt) (g/t) (Koz) Company Source Date Expande
Slide 40: Appendix: Supporting Peer Production Information
Appendix: Supporting Peer Production Information LOM Average Recovery Mine Life Throughput Mine Type Production (%) (Years) (Mtpa) Company (AuEq Koz) Production Information ASX Source ASX Release Date Expanded Murchison Gold Project MEK OP/UG 65 96.6 10 0.60 12/12/2024 Feasibility Study Mandilla Pro