Lode Resources Ltd · ASX:LDR
Lode Resources — Shareholder Meeting (November 2025)
22 slides from Lode Resources's shareholder meeting presentation, Nov 28, 2025
Slide 1: High Grade Silver & Antimony Projects – November 2025 AGM Presentation
Montezuma Silver & Antimony Deposit - TAS DZS19: 2,196 g/t AgEq For personal use only over 1m within 776 g/t AgEq over 9.9m TAS & NSW High Grade Silver & Antimony Projects Critical minerals for a sustainable future Magwood Antimony Deposit - NSW MAG010: 19.61% Sb over 2.4m within 9.92% Sb over 4.8m
Slide 2: Disclaimer, Competent Person's Statement, etc.
Disclaimer, Competent Person’s Statement, etc. Disclaimer Most recent reference documents used in this presentation The material in this presentation contains certain technical information, including regarding possible LDR announcement 8 November 2022 titled “1,899 g/t Silver Eq Intercepted at Copy
Slide 3: Corporate Snapshot
1 Corporate Snapshot Share Price (A$/sh) Major Shareholders For personal use only Andrew Van Heyst (LDR Executive Chair) 11.4% Ted Leschke (LDR Managing Director) 11.1% SG Hiscock & Company 7.4% Technical Investing 4.0% Corporate Structure Share Price (27/11/25) $0.18 Shares on Issue 161.8m Market C
Slide 4: Directors & Management
1 Directors & Management Andrew Van Heyst Ted Leschke Keith Mayes Jason Beckton Simon Milroy Executive Chairman Managing Director Non-Exec Director Non-Exec Director Non-Exec Director For personal use only With more than 30 years’ Ted has more than 30 years’ Keith has over 30 years’ With more than 3
Slide 5: Executive Summary
2 Executive Summary Overview Focus on high-grade Silver & Antimony assets – Montezuma Silver & Antimony Project together with the historic Magwood antimony mine forms a formidable antimony portfolio. Both assets For personal use only are high grade and open mineralisation Montezuma Silver & Antimony
Slide 6: Development Strategy & Next Steps at Montezuma
2 Executive Summary Development Strategy & Next Steps at Montezuma Quarter 4Q CY25 1Q CY26 2Q CY26 3Q CY26 4Q CY26 For personal use only Complete current 10,000m drilling programme Establish inaugural Mineral Resource Estimate (MRE) Expand MRE through deeper drilling Complete ore sorting tests Compl
Slide 7: Project Location
3 Montezuma Silver & Antimony Project, Tasmania Project Location For personal use only Location overview ➢ Montezuma Silver & Antimony Project located in Tasmanian’s premier West Coast Mining Province ➢ Well-known Tasmanian mining centres surround Montezuma Silver & Antimony Project including Rosebu
Slide 8: Project Highlights
3 Montezuma Silver & Antimony Project, Tasmania Project Highlights ➢ Surface, exploration drive and drill intercepts sampling has 1 demonstrated Montezuma lode to be a high-grade Silver & Antimony deposit. Lode is targeting a MRE (Mineral Resources For personal use only High-grade silver & antimony
Slide 9: Building A New Critical Minerals Mining & Processing Industry
3 Montezuma Silver & Antimony Project, Tasmania Building A New Critical Minerals Mining & Processing Industry Montezuma Silver & Antimony Deposit Granville Processing Infrastructure For personal use only Beneficiation Plant Footings Raw Water Dam Preliminary Mine Design Empty Tailings Dam Montezuma
Slide 10: Initial Surface & Drill Sampling – Long Section
3 Montezuma Silver & Antimony Project, Tasmania Initial Surface & Drill Sampling – Long Section For personal use only 446 g/t Ag 10.6% Pb 6.01% Sb SGD+0: 1,950 g/t Ag MZSFW1 14.00% Pb 10.10% Sb 3,050g/t Ag SGD+10: 18.30% Sb 18.9% Pb 9.50m @ SGD+5: 29.68% Pb 399 g/t Ag 17.2% Sb SGD+15: 1.86% Sb 291 g
Slide 11: Exploration Model & Current Drill Programme
3 Montezuma Silver & Antimony Project, Tasmania Exploration Model & Current Drill Programme Surface Channel Sampling For personal use only Sample no. M004: 8.43% Sb, 109g/t Ag SGD+50: 5.12% Sb, 986 g/t Ag SGD+45: 10.40% Sb, 158 g/t Ag Development Face Sampling SGD+40: 5.73% Sb, 175 g/t Ag LT1: 1.8m
Slide 12: Current and Extension Drill Programme
3 Montezuma Silver & Antimony Project, Tasmania Current and Extension Drill Programme Hanging Wall Lode Long Section ➢ 8,000m to 10,000m drilling programme ongoing defining Montezuma Silver & For personal use only Antimony deposit ➢ Initial resource to be based on 350m strike x 350m depth ➢ Addition
Slide 13: Numerous High-Grade Silver & Antimony Intercepts
3 Montezuma Silver & Antimony Project, Tasmania Numerous High-Grade Silver & Antimony Intercepts Top 27 drill intercepts ranked by endowment. From To Interval SbEq1 AgEq1 Au2 Sn2 Endowment Hole For personal use only (m) (m) (m) (%) (g/t) (g/t) (%) (AgEq g/t.m) MZS19 100.60 110.50 9.90 2.18 776 0.63
Slide 14: District Exploration Delivering High-Grade Silver & Antimony
3 Montezuma Silver & Antimony Project, Tasmania District Exploration Delivering High-Grade Silver & Antimony Fahlore Mine Workings Fahlore mine workings Fahlore Mine Workings For personal use only 215 g/t Ag, 0.25% Sb, 2.41% Cu 2,480 g/t Ag, 2.35% Sb, 3.19% Cu 2,060 g/t Ag, 2.3% Sb, 3.12% Cu 1610 g/
Slide 15: Metallurgy Advancing Well
3 Montezuma Silver & Antimony Project, Tasmania Metallurgy Advancing Well Flotation Testing ➢ Flotation testwork produces silver-antimony-lead concentrate feedstock For personal use only for smelters and/or leach circuit ➢ Multiple flotation variables are tested – grind size, pH, reagents, float tim
Slide 16: Magwood Antimony Project, NSW – Project Location
4 Magwood Antimony Project, NSW Project Location – Large Strategic Tenement With Multiple Sb Prospects For personal use only NSW ` Magwood Antimony Mine Lode’s EL9662 1,105 km2 Multiple Antimony Prospects Hillgrove Antimony & Gold Mine Lode Resources Ltd | October 2025 17
Slide 17: Hillgrove Sb/Au Mineralised Lodes − An Analog for Magwood
4 Magwood Antimony Project, NSW Hillgrove Sb/Au Mineralised Lodes − An Analog for Magwood Magwood Hillgrove For personal use only zero historic drill holes 19,000 drill holes Sb dominant +/- Au ? Drill Target ? Drill Target ? Drill Target ? Au dominant Source: LVR presentation 11 September 2024 +/-
Slide 18: Magwood Antimony Project – Inaugural drill results
4 Magwood Antimony Project, NSW Inaugural drill results ➢ Drill core assay results of up to 31.1% Antimony have been 7.1m @ 0.04% Sb from 74.3m* received from inaugural drilling 2.0m @ 0.17% Sb from 77.0m For personal use only ➢ Drill intercept assays of Stibnite mineralisation include: 0.2m @ 1.75%
Slide 19: Uralla Gold Project – Dominant Position In A Significant Goldfield
Uralla Gold Project – Dominant Position In A Significant Goldfield From To Interval Gold Hole No. Target (m) (m) (m) (g/t) ➢ The Uralla goldfield was one of the earlier SGRDD002 15.0 41.0 26.0 2.80 Martin Shaft LDR controls 302 sq kms For personal use only goldfields discovered in NSW and a signific
Slide 20: Hudsons Prospect Group – Multiple Walk-up Drill Targets
Hudsons Prospect Group – Multiple Walk-up Drill Targets Gumtree Prospect West East KTN007: 14.0m @ 1.24 g/t Au from 68m For personal use only KTN005: 10.0m @ 1.32g/t Au from 9m Martins Shaft Prospect KTN006: 16.0m @ 0.79g/t Au from 10m Drill Target Dyke/Gracie Prospects KTN010: 15.0m @ 2.09g/t Au fr
Slide 21: Hudsons Prospect Group – Walk-up Drill Targets & Potential at Depth
Hudsons Prospect Group – Walk-up Drill Targets & Potential at Depth Dyke Lode anomaly KTN010: 15.0m @ 2.09g/t Au from 12m For personal use only Circular feature potentially KTN011: 5.0m @ 1.04 g/t Au from 16m representing an intrusive KTN012: 6.0m @ 0.75g/t Au from 39m stock at depth Untested anomal
Slide 22: Lode Resources Ltd
For personal use only Lode Resources Ltd Level 5, 1 Margaret St, Sydney NSW 2000 info@loderesources.com