Sunshine Metals Limited · ASX:SHN
Sunshine Metals — RIU Resources Round Up 2026
21 slides from Sunshine Metals's conference presentation, May 2026
Slide 1: Ready to Shine
Ready to Shine Mt Moss Acquisition & Growth Plan RIU Resources Round Up Sydney, May 2026 Damien Keys Managing Director ASX:SHN shnmetals.com.au
Slide 2: Cautionary Statement
Cautionary Statement This presentation includes forward-looking statements. When used in this document, the words such as "could", "plan", "estimate", "expect", The information in this report that relates to Exploration Results is based on, and fairly represents, information compiled by Mr Matt Pric
Slide 3: Corporate Overview
Corporate Overview ASX:SHN High-grade Au drill results 30m @ 6.67g/t Au Corporate Information 4.5m @ 17.65g/t Au & 528g/t Ag, Liontown Sybil Shares on Issue (pre-placement 6 May 2026) 2,600M 4.4m @ 57.51g/t Au Sybil Options 237M 10m @ 31.91g/t Au Market Cap (6 May 2026) @ $0.027 A$70M Liontown Sybil
Slide 4: Equity Raising Overview
Equity Raising Overview Capital Raising & Share Purchase Plan • A$22M capital raising (Offer) comprising an A$19M two-tranche placement (Placement) and up to A$3M share purchase plan (SPP)1 • The A$19M Placement will be completed in two-tranches: Offer • A$16.9m under the Company’s ASX Listing Rules
Slide 5: Sunshine Metals: Gold-Copper-Silver in North Queensland
Sunshine Metals Gold-Copper-Silver in North Queensland Sybil/Mt Moss Au-Ag-Cu-Zn Queensland projects. Big system potential. ASX SHN | 5
Slide 6: Huge strides: Explorer to developer
Huge strides Explorer to developer • Grown a significant Resource base (Au focus) • Completion of Liontown Gold Mining Study • Acquisition of Mt Moss milling site and infrastructure • Emerging high-grade, epithermal exploration opportunity • Base Metal mining study to commence 2026 Willets Pit, Mt M
Slide 7: Sunshine Resource Base
Sunshine Resource Base Building a district presence Ravenswood Consolidated Total Resource • 7.4Mt @ 3.9g/t AuEq (929Koz AuEq) Liontown Resource • 6.3Mt @ 3.6g/t AuEq (725Koz AuEq) • Resource update – May 2026 Mining Study on Liontown Gold • 75Koz Au & 654Koz Ag (8% of resource tonnes) • Mining Stud
Slide 8: Mt Moss Acquisition
Mt Moss Acquisition Path to production Consideration • A$8M upfront and A$10m deferred cash consideration • A$7/t royalty on magnetite produced Front-end of gold processing plant • ~300ktpa crushing & grinding circuit • Tailings capacity for ~18 months. Space to lift • Leaching, reagent and gold roo
Slide 9: Mt Moss Mill
Mt Moss Mill Grinding circuit in excellent condition Queensland projects. Big system potential. ASX SHN | 9
Slide 10: Mt Moss Mill: Plan and costings – low restart capex
Mt Moss Mill Plan and costings – low restart capex • Detech Engineering (Townsville) – engineering assessment complete • Targeting first production in June 2027 • Debt funding discussions advancing Application A$M Leaching/adsorption tanks and infrastructure 7.5 Grinding 6.9 Gold Room 6.4 Reagent st
Slide 11: Mt Moss Mine Area
Mt Moss Mine Area Mt Moss Copper-Zinc-Magnetite Copper intersections • 19.9m @ 4.41% Cu from 367.8m, MMRCD0344 • 13.0m @ 3.78% Cu from 282m, MMRC326 • 12.0m @ 2.66% Cu from 221m, MMRC318 • 16.0m @ 2.19% Cu from 239m, MMRC328 • 25.0m @ 1.63% Cu from 279m, MMRC346 Zinc intersections • 30.0m @ 12.04% Z
Slide 12: Liontown Mining Study
Liontown Mining Study ~$163M Operating Net Cashflow Gold Price $/oz Operating Net (@ $6,500/oz Au, $100/oz Ag) Cashflow ($M) $5,500 $102.7 $5,700 $114.5 • ONLY ~8% of Ravenswood Consolidated VMS Au-Ag-Cu-Zn-Pb $5,500 $126.7 Resource in proposed mining scenario. $6,100 $138.7 $6,300 $150.7 • Base Met
Slide 13: Liontown Gold Mining Study
Liontown Gold Mining Study ~8% of Liontown Resource tonnes Liontown Resource Queensland projects. Big system potential. ASX SHN | 13
Slide 14: Liontown Mining Study Upside Gold-Silver
Liontown Mining Study Upside Gold-Silver 121-hole infill program recently completed. High-grade intersections – not in current Mining Study: • 30m @ 6.68g/t Au & 528g/t Ag from 17m • 24m @ 7.08g/t Au & 305g/t Ag from 14m • 23m @ 4.19g/t Au & 113g/t Ag from 7m • 20m @ 5.62g/t Au & 310g/t Ag from 8m •
Slide 15: Sybil Epithermal Overview
Sybil Epithermal Overview • Acquired in June 2025. • Aligned with our shallow, high- grade gold strategy within the Ravenswood Consolidated Project. • Shares similarities with Pajingo Gold Mine (~4Moz gold mined). • Previously explored under JV from 1986 to 1996. • Excellent baseline datasets and hi
Slide 16: Francis Creek Project - Sybil Epithermal Au-Ag
Francis Creek Project - Sybil Epithermal Au-Ag Utilise Mt Moss Camp & Coreshed Queensland projects. Big system potential. ASX SHN | 16
Slide 17: Sybil Epithermal: Early-stage, Excellent Results
Sybil Epithermal Early-stage, Excellent Results October 2025 Record high-grade intersections: • 4.4m @ 57.51g/t Au • 4.5m @ 17.23g/t Au • 5.2m @ 9.01g/t Au • 2.8m @ 15.15g/t Au • 3.8m @ 6.12g/t Au • 14 holes drilled, with high-grade gold in 12 of the 14 holes. • First drilling at Francis Creek in ~1
Slide 18: Sybil Epithermal: 4Moz Au Pajingo Analogue
Sybil Epithermal 4Moz Au Pajingo Analogue • Prospective “boiling zone” thickens to the east & southeast. • Other high-priority targets. Quartz Ridge • 68m @ 0.38g/t Au from 36m, FSR070. • 22m @ 0.55g/t Au from 0m, FSR035. Francis Creek East • 28.1g/t Au rock chip result, undrilled. Figure modified f
Slide 19: 2026 Exploration & Development Plan
2026 Exploration & Development Plan Upcoming work Liontown – Advancing Toward Development • Gold Panel drilling results. • Update shallow gold resource to incorporate 121-hole GC program. • Update of Liontown Gold Mining Study. Sybil – Expanding the Epithermal System • Drill pad and camp preparation
Slide 20: Contact details
Unit 26, 31-45 Eyre St, North Ward, QLD, 4810 LinkedIn www.linkedin.com/company/70551686 +61 8 6245 9828 Facebook Sunshine Metals Ltd admin@shnmetals.com.au Twitter #SunshineGold20 www.shnmetals.com.au ASX SHN
Slide 21: References
References For the latest resource update at the Liontown deposit, please refer to: For the most recent previous releases outlining SHN drill assay results please refer to: • ASX: SHN, 26th November 2025, Significant Upgrade in Liontown Shallow Gold Resource • ASX: SHN, 13th October 2025, Record Hig