Flagship Minerals Limited · ASX:FLG
Flagship Minerals — Investor Presentation (July 2026)
33 slides from Flagship Minerals's investor presentation, Jul 6, 2026
Slide 1: Corporate Overview
For personal use only Corporate Overview ASX: 06 July 2026
Slide 2: Strategy
Strategy Simple and Effective - Targeting low cost / low capital For personal use only intensity Gold and Copper holdings in Tier 1 settings GOLD COPPER OPPORTNITY • Secured Isidora Gold with minimal • Secured Whipsaw Copper with • Disciplined approach to assets and dilution (Apr 25) minimal dilutio
Slide 3: Unlocking potential
Salares Norte Gold Fields Rosario Copper Unlocking potential Flagship Minerals El Salvador Codelco Chanaral Focusing on cost curve positioning, Santo Domingo Capstone Copper Mantoverde Time and effort to cash flow, and For personal use only Capstone Copper Nueva Esperanza Kingsgate The value proposi
Slide 4: Corporate snapshot
Corporate snapshot Compelling value drivers, underwritten by a large Au inventory. For personal use only Paul Lock Chairman & Managing Director Capital Structure1 Broad experience in international mineral resource initiatives . Former project financier and corporate advisor with big balance sheets a
Slide 5: Isidora Gold
Isidora Gold Rosario Copper Project Salares Norte - 3.4Moz Au Gold Fields(4) Advanced Large Scale Oxide Gold Project in the prolific Maricunga Gold Belt, Chile. For personal use only Hosts 115.2Mt @ 0.56g/t Au for 2.1Moz Au MRE (JORC 2012)a: • MRE constrained within open pit shell using a $3646/oz g
Slide 6: Whipsaw Copper
Whipsaw Copper Large-scale Porphyry Copper, BC, Canada Scale: 3.7km x 1.2km Mineralised Zone For personal use only Teck - Highland Vally 2,220Mt @ 0.26% Cu and 86ppm Mo (4) Located ~17km west of Hudbay's Copper Mountain in one of Canada’s most established and infrastructure-accessible mining regions
Slide 7: Xinhai - Strategic Investor & EPC Partner
Xinhai - Strategic Investor & EPC Partner To provide 'in-house' expertise and services related to metallurgy and mineral processing Procurement For personal use only • Manufacturing studies, EPC and project financing. • 3rd Party Engineering • inc. Metallurgy Xinhai is a leading global process engin
Slide 8: Isidora Gold peer group
As the growth shown in this graph may not be achievable, this information should not be relied upon by investors. Isidora Gold peer group 5 Flagship Minerals: For personal use only 500 @ A$24/oz Au 400 is deeply undervalued4 7.25x Enterprise Value (A$, 03 July, 2026) / M&I&I Au oz 320 280 to reach P
Slide 9: Isidora Gold growth analogue
As the growth shown in this graph may not be achievable, this information should not be relied upon by investors. Isidora Gold growth analogue 6,7,8 Rio2's Fenix project is located ~45km north of Isidora. For personal use only Ramp Up MCap: 1600 ~C$1.63B ~A$1.65B 1400 Market Cap (A$, 03 July, 2026)
Slide 10: Isidora, advanced oxide gold
Isidora, advanced oxide gold 8,9 Strong analogues and scale potential, positioning for lower cost. For personal use only Flagship Minerals (ASX: FLG) 0.8 Isidora (Chile) Flagship is building its oxide/mixed gold inventory Andean Precious (TSX: APM) Golden Queen (US) 2.1 Moz Au JORC (2012) i.e. heap
Slide 11: Isidora, aiming for cash flow
Isidora, aiming for cash flow Leveraging substantial work to date for For personal use only an accelerated work program. WE ARE HERE Isidora Option Signed Assess and validate exploration, drilling, metallurgical data Re-assay existing Core & Lab Pulps, confirmatory met testing Prep drill data and as
Slide 12: Isidora Gold Project
For personal use only Isidora Gold Project Large Scale Oxide Gold Flagship Minerals | Metals that Matter 12
Slide 13: Isidora Gold
Isidora Gold 2.1 Million Ozs MRE with substantial. opportunities for large inventory growth. For personal use only Oro 52 ~120km2 Exploitation Concessions: Isidora Norte • 115.2Mt @ 0.56g/t Au for 2.1Moz Au MRE = <2% of total holding 115.2Mt @ 0.56g/t Quebrada Isidora for 2.1Moz Au • MRE constrained
Slide 14: Isidora Gold
Isidora Gold Pit shell is 1500m x 900m Sits in 5km x 1.2km soils trend For personal use only Open along strike and down dip Gold in soil anomaly approximately 5km long and up to 1.2km wide: • Gold anomaly supported by elevated copper and molybdenum as well as other pathfinders. • Large target areas
Slide 15: Isidora Gold
Isidora Gold 4 Lobo-Marte ina Chile We are in Elephant Country, in a belt with 12.0Moz Au(4) Argent a ~100Moz Au endowment. La Pepa For personal use only 12 2.6Moz Au (4) ~22 Km Flagship's Isidora Gold represents a ~120km2 holding of ~2 4 prime exploration ground. Km Volcan ~1 11.1Moz Au (4) 2K Six
Slide 16: Isidora Gold
Isidora Gold Column leach test work shows high and rapid gold recovery for oxide mineralisation. For personal use only High gold recoveries were achieved through The column leach test work results derisk and facilitate cyanidation of crushed material14 Flagship’s next phase of leaching test work. •
Slide 17: Inventory Growth Plan
Inventory Growth Plan Flagship has a 3 step growth plan, step one aiming for an MRE update later in 2026. For personal use only 1. Targeting gold mineralisation in recently define 2.1Moz Au pit shell: • Siting in the current MRE are large areas of unclassified mineralisation, within the oxide and mi
Slide 18: Inventory Growth Plan
Inventory Growth Plan Large zones of unclassified mineralisation within current Pit Shell = Easy targets to add material Au ounces: For personal use only T1 - Primary Target T2 - Secondary Target T1 T1 T1 T1 T2 T1 T2 T2 T2 T2 T2 T2 T2 Flagship Minerals | Metals that Matter 18
Slide 19: Isidora - Key Takeaways
Isidora - Key Takeaways • Advanced oxide gold - amenable to low strip open cut mining and heap leaching. For personal use only • Sits central to six (6) Tier 1 (>5Moz Au) projects representing >65Moz gold. • Measured (>70%), Measured and Indicated (~90%), pit constrained. • Targeting additonal Au ou
Slide 20: Whipsaw Copper Project
For personal use only Whipsaw Copper Project Very Large Scale Porphyry Copper Flagship Minerals | Metals that Matter 20
Slide 21: Whipsaw Copper
Whipsaw Copper Drill supported Exploration Target of 0.51 to 1.02 Billion tonnes @ 0.2% to 0.4% CuEqa. For personal use only Canada is a Tier 1 jurisdiction for exploration and mining investment: • Combining world-class geology, low political risk, a stable legal and framework. • Excellent infrastru
Slide 22: Whipsaw Copper
Whipsaw Copper Mineralised zone ~3.7km X 1.2km wide, defined by drilling, soil geochem, etc. For personal use only Mineralisation is associated with B‑type quartz veinlets, stockworks, and fine biotite alteration: • Historical drilling returned long intervals of 0.15 to 0.35% Cu, with local higher‑g
Slide 23: Rosario Copper Project
For personal use only Rosario Copper Project High Grade Oxide Copper-Silver Flagship Minerals | Metals that Matter 23
Slide 24: Rosario Cu
Rosario Cu Highly prospective, under explored. For personal use only Rosario has all the hallmarks of a low cost high margin oxide copper project. Three distinct prospective trends with a combined strike length of ~15km: • The zones are interpreted to be from 20m wide up to 200m wide, with assays up
Slide 25: Important Information
For personal use only Important Information Flagship Minerals | Metals that Matter 25
Slide 26: Important information
Important information Forward Looking Statements Resources and Ore Reserves (JORC Code, 2012 Edition); I am a Competent Person as identified by the JORC Various statements in this document constitute statements relating to intentions, future acts and events which Code (2012 Edition), having more tha
Slide 27: Important information
Important information suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this document Information - Peer Groups' for individual project Mineral Resource and QFE data. or information. 5. [Slide 8] See Table 1 - Peer Group Mineral Resource Compariso
Slide 28: Important Information - Peer Groups
Important Information - Peer Groups Table 1 - Peer Group Mineral Resource Comparison Data (Gold) Measured Indicated Inferred Total Ref # Company Ticker Project Country Stage Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Moz Au
Slide 29: Important Information - Peer Groups
Important Information - Peer Groups Table 2A - Peer Group Mineral Resource Comparison Data (Gold) Measured Indicated Inferred Total Ref # Company Ticker Project Country Stage Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Moz A
Slide 30: Important Information - Peer Groups
Important Information - Peer Groups Table 4 - Peer Group Aisc Data And Source Information AISC Source Company Ticker Project Country Stage Currency ASIC Date Title & Source For personal use only Section 1 - Growth analogue - AISC Reference Saturn Metals STN (ASX) Apollo Hill Aus. Feasibility A$ 2,46
Slide 31: Important information - Peer Groups
Important information - Peer Groups REFERENCES FOR PEER GROUP TABLES 1 TO 5 project-chile. 19 - Kinross Gold (NYSE-KGC): Bald Mountain Project(s) - Mineral Resource effective as at 31/12/2025. Source document dated 31/12/2025 1 - Benz Mining (ASX-BNZ): Glenburgh & Eastmain Project(s) - Mineral Resou
Slide 32: Important information
Important information RELEVANT ASX RELEASES 30 Jul 2024: Rosario Copper ProjectPresentation Readers are advised to refer to the following ASX releases for details and other technical data reported in this 29 Jul 2024: Rosario Copper Project - High Grade Copper Secured presentation: For personal use
Slide 33: For personal use only
For personal use only ASX: flagshipminerals.com Flagship Minerals | Metals that Matter 33 Copyright 2026 Flagship Minerals Limited. All Rights Reserved.
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