Vault Minerals Limited · ASX:VAU
Vault Minerals — Diggers & Dealers Mining Forum 2025
31 slides from Vault Minerals's conference presentation, Aug 4, 2025
Slide 1: Inflection point
Diggers & Dealers Mining Forum 2025 For personal use only Inflection point August 2025 www.vaultminerals.com
Slide 2: Important notice and disclaimer
VAULT MINERALS | 2 Important notice and disclaimer Investor Presentation For personal use only Vault Minerals Limited ACN 068 647 610 has prepared this investor presentation based on information available to it at the time of preparing the presentation. No representation or warranty, express or impl
Slide 3: Why Vault? Long Life, Intermediate Gold Producer Today
VAULT MINERALS | 3 Why Vault? Long Life, Intermediate Gold Producer Today Today; a diversified, long life, intermediate gold business Underpinned by a strategic 18 year asset in the prolific Leonora For personal use only district and 5+ years at Mount Monger Financial capacity and strong free cashfl
Slide 4: Corporate overview
VAULT MINERALS | 4 Corporate overview Vault Minerals Limited (ASX: VAU) Board of Directors Share price (30 July 2025) A$0.38 For personal use only Russell Clark Luke Tonkin Rebecca Prain Kelvin Flynn Non-Executive Chair Managing Director & Non-Executive Director Non-Executive Director Shares on issu
Slide 5: Balanced, diverse portfolio across established mining jurisdictions
VAULT MINERALS | 5 Balanced, diverse portfolio across established mining jurisdictions FY25 Gold Sales For personal use only 28% 385 50% koz 22% Ore Reserves1 15% 70% +3.9 Moz Au 7% Sugar Zone Ontario, Canada 8% (Development) Leonora Western Australia Mineral Resources1 (Producing) 30% Deflector Wes
Slide 6: FY25 sets a strong platform to realise value of a long-life business
VAULT MINERALS | 6 FY25 sets a strong platform to the realise value of a long-life business Leonora Resource Definition Drilling Leonora Stage 2 plant June 2024 October 2024 100,000m resource definition drilling expansion capacity online August 2024 Merger of Silver Maiden group Mineral planned for
Slide 7: FY26 – Key value drivers across the business
VAULT MINERALS | 7 FY26 – Key value drivers across the business For personal use only KoTH: Processing Upgrades Leonora: Growth Sugar Zone ▪ Largest, lowest cost processing facility in the region1 ▪ FY26 drilling to focus on Resource conversion, ▪ Surface exploration continues to intersect shallow e
Slide 8: Hedge book inflection point rapidly approaching
VAULT MINERALS | 8 Hedge book inflection point rapidly approaching For personal use only Rising exposure to spot gold pricing1,2 Hedged Ounces Operating Exposure to Spot Gold Price Indicative Average Price Received (A$/oz) Revenue, earnings & cashflow growth anticipated with declining hedge profile
Slide 9: Significant financial strength & internal liquidity
VAULT MINERALS | 9 Significant financial strength & internal liquidity For personal use only Prioritise a strong balance sheet & free cash flow generation ▪ $686 million cash and no debt Our approach to sustainable shareholder returns Demonstrated financial discipline and cashflow generation capacit
Slide 10: Leonora – Long-life asset poised for growth
VAULT MINERALS | 10 Leonora – Long-life asset poised for growth For personal use only Demonstrable scalability and expandability ▪ Largest, lowest cost processing facility in the Northern Goldfields1 ▪ 18 year+ baseload feed from KoTH open pit adjacent to the processing facility supplemented by high
Slide 11: Leonora: Long life production base with multiple ore sources
VAULT MINERALS | 11 Leonora: Long life production base with multiple ore sources …feeding the largest, lowest cost and most scalable processing plant in the region1 For personal use only KoTH Open Pit ▪ 2.2 million ounces Ore Reserve adjacent to KoTH mill KoTH Processing Facility ▪ Multiple stages p
Slide 12: KoTH: Leveraging a large, long-life orebody
VAULT MINERALS | 12 KoTH: Leveraging a large, long-life orebody Larger, more valuable operation provides 18 years of baseload ore feed at Leonora1 For personal use only Current open pit surface Current underground voids Final open pit design (Stages 1 to 5) Resource shell (AU$4,500/oz) Final undergr
Slide 13: KoTH – Open pit stages provides scheduling optionality
VAULT MINERALS | 13 KoTH – Open pit stages provides scheduling optionality FY 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 For personal use only Stage 2 Stage 3 Stage 4 Stage 5 Scale, expandability ▪ Distribution of ounces between the stages provides valuable optionalit
Slide 14: Leonora – Internally funded processing facility upgrades
VAULT MINERALS | 14 Leonora – Internally funded processing facility upgrades $172 million investment to expand modern KoTH For personal use only A strategic asset with the potential to further increase its competitiveness1 process facility & further increase competitiveness Stage 1 – construction we
Slide 15: Stage Processing Upgrade: Crusher Installation
VAULT MINERALS | 15 Stage 1 Processing Upgrade: Cusher Installation For personal use only
Slide 16: Stage Processing Upgrade: Absorption Tanks
VAULT MINERALS | 16 Stage 1 Processing Upgrade: Absorption Tanks For personal use only
Slide 17: KoTH UG: GC drilling focus mostly complete
VAULT MINERALS | 17 KoTH UG: GC drilling focus mostly complete For personal use only Central East Regal West Current mining areas and proposed FY26 GC drilling FY26 LOM As built
Slide 18: KoTH UG: Allowing the focus to move to resource definition
VAULT MINERALS | 18 KoTH UG: ….Allowing the focus to move to resource definition For personal use only Central East Regal West Current mining areas and proposed FY26 GC drilling inclusive of Resource Definition Infill FY27 LOM FY26 Resource Definition Infill FY26/27 LOM Grade Control FY26 LOM As bui
Slide 19: KoTH – Extending in established areas & opening up new targets
VAULT MINERALS | 19 KoTH – Extending in established areas & opening up new targets West Zone drilling targeting Imperial lode hanging wall For personal use only West Zone drilling intersects high grade mineralisation within new hanging wall zone ▪ Program to follow up intersection of high grade stru
Slide 20: KoTH UG: Significant step out drilling programs for FY26
VAULT MINERALS | 20 KoTH UG: Significant step out drilling programs for FY26 For personal use only Package of approved drilling over FY26 designed to unlock future potential of KoTH UG ▪ Testing several “near-term” targets, particularly along the extents of the granodiorite contact (down plunge) ▪ T
Slide 21: Darlot – Drilling continues to increase new mining fronts
VAULT MINERALS | 21 Darlot – Drilling continues to increase new mining fronts Darlot active mining areas with potential new Chappell/Pipeline area Recent drilling targeting Pipeline area to enhance the For personal use only potential for new mining fronts1 ▪ Drilling delivers up plunge extensions to
Slide 22: Leonora: Enhanced KoTH mill reinvigorates regional exploration
VAULT MINERALS | 22 Leonora: Enhanced KoTH mill reinvigorates regional exploration For personal use only Opportunity for regional growth within reach of the region’s largest, lowest cost, scalable mill ▪ Severn, Rainbow, Centauri, Cerebus-Eclipse account for a current Mineral Resource of ~290koz Au
Slide 23: Sugar Zone 2024 Ore Reserve underpins a low capex, high margin mine
VAULT MINERALS | 23 Sugar Zone 2024 Ore Reserve underpins a low capex, high margin mine Base Case Restart FY26 FY27 FY28 Long term Comprehensive first principles Mineral Resource remodel post 93,000 drill metre program For personal use only ▪ delivered 1.28 million ounces Average mine production at
Slide 24: Sugar Zone South demonstrates untapped exploration potential
VAULT MINERALS | 24 Sugar Zone South demonstrates untapped exploration potential ▪ Drilling continues to intersect high grade mineralisation including new results of 1.29m at 282 g/t, 1.46m at 45.0 g/t & 0.65m at 99.2 g/t1 For personal use only ▪ Recent drilling has returned two of the highest grade
Slide 25: A Clear Plan to Execute Over the Coming Months
VAULT MINERALS | 25 A Clear Plan to Execute Over the Coming 12 Months For personal use only Self-funded expansion of KoTH Mill Strong free cashflow growth with rapidly Increase throughput to deliver higher approaching hedge book extinguishment production, lower costs and grow free cash flow Material
Slide 26: Ore Reserve & Mineral Resource Statements
For personal use only VAULT MINERALS | 26 Ore Reserve & Mineral Resource Statements Appendix A
Slide 27: Ore Reserves (other than KoTH OP/Stockpiles) as at June 2024
VAULT MINERALS | 27 Ore Reserves (other than KoTH OP/Stockpiles) as at 30 June 2024 Gold Proved Ore Reserves Probable Ore Reserves Total Ore Reserves Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces ('000s) (g/t Au) (Au '000s) ('000s) (g/t Au) (Au '000s) ('000s) (g/t Au) (Au '000s) Leonor
Slide 28: Mineral Resources (other than KoTH OP/Stockpiles) as at 30 June 2024
VAULT MINERALS | 28 Mineral Resources (other than KoTH OP/Stockpiles) as at 30 June 2024 Gold Measured Mineral Resources Indicated Mineral Resources Inferred Mineral Resources Total Mineral Resources Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces ('000s) (g/t Au) (Au
Slide 29: Other information
For personal use only VAULT MINERALS | 29 Other information Appendix B
Slide 30: LTM mill throughput and processing cost
VAULT MINERALS | 30 LTM mill throughput and processing cost Gold Project Company LTM Throughput (kt) LTM Processing Cost (A$M) Implied Unit Cost (A$/t Processed) Source File (Announcement Date) Bellevue Bellevue Gold Limited 1,088 $79 $73 Quarterly Activities Report (28 July 2025) For personal use o
Slide 31: Contact Vault
For personal use only Contact Vault Phone: (61) 8 6313 3800 Email: info@vaultminerals.com www.vaultminerals.com