Aureka Limited · ASX:AKA
Aureka — Merger or Acquisition (September 2026)
27 slides from Aureka's merger presentation, Sep 9, 2026
Slide 1: Set to become Victoria's next high-grade Gold Producer
For personal use only Set to become Victoria’s next high-grade Gold Producer Aureka’s proposed acquisition of High-Grade Holdings, parent of Core Prospecting – operator of the Wedderburn Gold Mill and the producing Fiddlers Creek Mine. Investor Presentation – 9 September 2026 ASX:AKA aureka.com.au |
Slide 2: Disclaimer
This presentation has been prepared by Aureka Limited (Aureka or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be di
Slide 3: Exploration Target
Exploration Target On 18 June 2026, Aureka Limited ASX:AKA announced the increase to their maiden gold Exploration Target at its flagship 100%-owned Irvine Gold Project in Victoria, Australia. Notably, the Exploration Target upgrade was constrained to the current drill footprint at the Resolution lo
Slide 4: Agenda: Set to become Victoria's next high-grade Gold Producer
Agenda: Set to become Victoria’s next high-grade Gold Producer OVERVIEW OF TRANSACTION For personal use only FIDDLERS CREEK GOLD & SILVER MINE WEDDERBURN MILL INTEGRATION STRATEGY / Q&A Aureka Executive and Director team with HGH Founder and Director Toby Houldsworth on site visit to the Fiddlers Cr
Slide 5: Path to production: Million-ounce potential + mill partnership
Path to production: Million-ounce potential + mill partnership Advanced Stage Gold Projects • Existing discoveries and substantial projects • Projects are proximate to operating mines • Long term approach (e.g. permanent land access) • Toll milling partnership locked in (July) For personal use only
Slide 6: For personal use only
For personal use only Refer ASX Release: 8-Dec-2025 Aureka engages Core Prospecting for Comstock Project ASX:AKA |
Slide 7: For personal use only
For personal use only Surrounding the fully permitted Wedderburn Mill (to be acquired on Completion) Highly prospective mining region, neighboring Stawell gold mine with production history of over 5Moz Fully sealed roads (45km from St Arnaud), (100km Fiddlers Creek), (~130km Irvine) ASX:AKA |
Slide 8: For personal use only
For personal use only ASX:AKA aureka.com.au | 8
Slide 9: For personal use only
For personal use only ASX:AKA |
Slide 10: Performance of acquired assets
Performance of acquired assets Production at the mine and mill commenced July 2025 FY26 Production (12 months): Average head grade mined and milled 7 g/t For personal use only Total gold recovered in 12 months: 416 oz, 13 kg (inclusive of lower recoveries during mill commissioning) Average recoverie
Slide 11: Transaction steps Aureka into production
Transaction would, on completion, step Aureka into production in a controlled risk manner (debt free, lower overheads, scope for growth via exploration and operating asset upgrades). Currently processing Fiddlers Creek underground mine (~100km away) Spare capacity that could potentially process Coms
Slide 12: For personal use only
+ HGH Representative: Right to nominate 1 additional board member as part of transaction. For personal use only ASX:AKA aureka.com.au | 12
Slide 13: Explorer turned producer
EXPLORER TURNED PRODUCER • On completion Aureka becomes a multi-faceted with a operating mill and mine, Comstock in application and the scale potential of Irvine. • Aureka becomes Victorian high grade gold producer while continuing to grow scale in a known multi-million ounce region. For personal us
Slide 14: Historic Workings
For personal use only Historic Workings Concept Design High-grade gold system with multiple mineralised structures Mineralisation extends over approximately 600 m along strike and remains open at depth (based on Core's mapping and drilling; no JORC Mineral Resource has been reported) Strong potentia
Slide 15: For personal use only
Secures licensed operating processing mill, located within trucking distance of all Aureka’s projects (45km from St Arnaud, ~130km from Irvine Project). The acquisition brings together a small operating gold business with Aureka’s vast growth potential. Aureka transitions from explorer to producer t
Slide 16: Current Capital Structure
Current Capital Structure – Before planned transaction related share issue^ $0.12 159m BOARD OF DIRECTORS Graeme Hunt Non-Executive Chairman Share Price (4 Sep 2026) Shares in Issue James Gurry Managing Director Richard Taylor Non-Executive Director ~$19m $2.3m For personal use only Angela Lorrigan
Slide 17: The Aureka Growth Story So Far
The Aureka Growth Story So Far… DECEMBER 2024 MARCH 2025 OCTOBER 2025 JUNE 2026 SEPTEMBER 2026 ASX Debut with Acquire freehold Tenacity discovery Increase in Inferred Agreement to 304koz in one land at Irvine Gold at Irvine Gold JORC Resources to acquire single project. Project Project 455koz Wedder
Slide 18: Positioned for Production & Growth at Scale
Positioned for Size of Prize is Huge Production & Growth Production (Fiddlers Crk) at Scale Mill (Wedderburn) Brownfield Project (Comstock) (in Application) Scale Potential (Irvine) (multi million-ounce Stawell Corridor) For personal use only What to expect from Aureka: On-going diamond dr
Slide 19: Pro-forma Capital Structure
Pro-forma Capital Structure: Subject to various transaction related approvals, shareholder vote and capital raising assumptions Acquisition of Mill & Mine: Vendor scrip, Placement and SPP (all 12c/share) • Placement $5.65m cornerstoned by existing shareholders (47m shares) For personal use only • Ve
Slide 20: Mineral Resources Competent Person Statement
Mineral Resources Competent Person Statement The Competent Person Statement for this presentation, including the cross-references to the Original Announcements under ASX Listing Rule 5.23, is set out on page 2. The Mineral Resources in the table below are extracted from those announcements. Aureka M
Slide 21: Stawell Corridor – Irvine Gold Project
Stawell Corridor – Irvine Gold Project Inferred Irvine (+94koz Au) Cut-Off Prospect Southern Trend Morning Bill Gold (g/t) Tonnes Gold Grade (g/t) Gold Ounces Resolution OP* >0.5 1,775,000 2.16 123,000 Added* Adventure OP >0.6 680,000 1.85 40,300 398koz Au Resource Au, Ag & Cu project Total Irvine O
Slide 22: Stawell Corridor – 94koz Added to Irvine MRE
Stawell Corridor – 94koz Added to Irvine MRE For personal use only JORC references: ASX Release 18 June 2026: Global JORC Resource Increase to over 450Koz. ASX:AKA aureka.com.au | 22
Slide 23: St Arnaud Comstock: Plan view of the Comstock pit
St Arnaud Comstock: Plan view of the Comstock pit with location of the mineral intercepts NED032 intercepted significant gold & silver mineralisation on Comstock shear: o 4.4m @ 8.9g/t Au and 57.8g/t Ag (silver) from 102.8m For personal use only - Including 0.3m @ 65.3g/t Au from 106.2m (duplicate r
Slide 24: Comstock – Walkers – identified as potential starter pit
Comstock – Walkers – identified as potential starter pit For personal use only ASX Release 1-July-2026: Comstock study update: Walkers Pit Selected / Licencing Submitted ASX Release: 10-August-2026: Comstock drilling visible gold. Star indicates location of observed visible gold. ASX:AKA aureka.com.
Slide 25: Comstock – Walkers – identified as potential starter pit
Comstock – Walkers – identified as potential starter pit For personal use only ASX Release 25-August-2026: High Grade Gold Intercepts on Both Comstock and Walkers ASX:AKA aureka.com.au || 25
Slide 26: Comstock – Comstock main Shear / Main Pit
Comstock – Comstock main Shear / Main Pit For personal use only ASX Release 25-August-2026: High Grade Gold Intercepts on Both Comstock and Walkers ASX:AKA aureka.com.au || 26
Slide 27: Irvine 2026 MRE Irvine Gold Project – 2026 Mineral Resource Estimate
Irvine 2026 MRE Irvine Gold Project – 2026 Mineral Resource Estimate (summary extracted from Aureka’s ASX announcement dated 18 June 2026) All drilling data utilised in the MRE has been collected from Air Core (AC), Reverse Circulation (RC) and Diamond (DD) drilling completed between November 2016 a