Slide 1: Once in a Blue Moon – High-grade gold in Bendigo
NOT FOR RELEASE TO U.S WIRE SERVICES ONCE IN A BLUE MOON OR DISTRIBUTION IN THE UNITED STATES High-grade gold in Bendigo COMPANY PRESENTATION COMPANY PRESENTATION | AUGUST | AUGUST 2025 2025 ASX : FAL ASX : FAL
Slide 2: Important Notice and Disclaimers
Important Notice and Disclaimers This presentation has been prepared by Falcon Metals Ltd ACN 651 893 097 (Company). It contains general background information only which is No party other than the Company has authorised, permitted or caused the issue, submission, dispatch or provision of this prese
Slide 3: Unearthing Blue Moon
Unearthing Blue Moon World Class Gold Province • The Bendigo Zone is home to two world class gold deposits: • Bendigo Goldfield (22 Moz @ ~15 g/t Au) famous for its high-grade reef style free-milling gold since its discovery in 1851; and • Fosterville Gold Mine with the Swan Zone (2.3 Moz @ 49.6 g/t
Slide 4: Corporate Overview
Corporate Overview Top Shareholders Capital Structure and Financials 9.0% 7.1% 3.2% A$0.63 177.6M 16.3M Share Price Shares Options (12 Aug 2025) on Issue 7.3% A$7.8M Nil A$111.8M 73.4% Cash Debt Market Cap (30 Jun 2025) (@ $0.63) 4 COMPANY PRESENTATION | AUGUST 2025
Slide 5: Directors & Management
Directors & Management DR MARK TIM ALEX KATINA PRADEEP DOUG BENNETT MARKWELL DORSCH LAW SUBRAMANIAM WINZAR Non-Executive Chair Managing Director Non-Executive Director Non-Executive Director Chief Financial Officer Exploration Manager 30+ years’ experience in 30+ years’ experience in As Managing Dir
Slide 6: Blue Moon
Blue Moon Gold, VIC First wedge hole hits 1.2m at 543g/t Au The Pyramid Hill Gold Project areas occur on Dja Dja Wurrung, Taungurung and Yorta Yorta land. Falcon acknowledges their ongoing connection to the land and pay our respect to them, their culture and their elders, past, present and emerging.
Slide 7: Blue Moon – The Right Location
Blue Moon The Right Location • EL007839 surrounds the world class Bendigo goldfield (22 Moz @ ~15 g/t Au) • Review of all historical data, with 3D reconstruction of the historical Bendigo workings, confirmed no previous modern exploration on the northern extension of the goldfield onto Falcon’s tenu
Slide 8: Blue Moon – Diamond Drilling
Blue Moon – Diamond Drilling Observations from Bendigo, Ballarat and Fosterville suggest that there is a strong plunge component to the high-grade mineralisation in Central Victoria 8 COMPANY PRESENTATION | AUGUST 2025
Slide 9: Eight Priority Target Zones
Eight Priority Target Zones Target Generation in World Class Goldfield • Initial stratigraphic hole drilled to 778.1m depth: • Intersected 8 priority target zones including laminated quartz veins, spur veins and bedded veins • Two zones returned high-grade gold including visible gold • First wedge i
Slide 10: Positive Results
Positive Results Cross sections Schematic cross section showing quartz-gold Cross section at Blue Moon Magnified view of the wedge hole BMDD001W1 reef geometries at Bendigo looking north with assays, target zones and planned trace of (modified Dominy et al., 2003) proposed wedge 10 COMPANY PRESENTAT
Slide 11: Visible Results
Visible Results Drill Results & Future Plans • Positive results from parent hole BMDD001: • 2.8m @ 17.7m g/t Au from 40.6m; incl. • 0.9m @ 52.4 g/t Au from 40.6m • 2.4m @ 8.4 g/t Au from 600m; incl. • 0.3m @ 48.7 g/t Au from 600m; and • 0.3m @ 18.2 g/t Au from 602.1m • 0.4m @ 2.6 g/t Au from 734m •
Slide 12: Mineralised Structures
Mineralised Structures Wedge holes in progress, all assays pending • Third wedge hole (BMDD001W3) aimed to drill as close to the hinge position for as long as possible • BMDD001W3 is in progress and is successfully drilling down the fold hinge, hitting several zones of visible gold, quartz veining a
Slide 13: Falcon tenure extends 6 km
Continuation of the Bendigo Goldfield onto Falcon tenure Multiple lines of reef to be tested Inset A – Lines of Reef extending on to Falcon tenure Falcon tenure extends 6 km to the north of Blue Moon Blue Moon EL007839 southern boundary Inset A 13 COMPANY PRESENTATION | AUGUST 2025
Slide 14: Investment Highlights
Falcon Metals Investment Highlights 1• Highly decorated team with a history of ‘company making’ discoveries (Julimar, Nova-Bollinger, Thunderbox, Waterloo) 2• High-grade visible gold confirms continuation of Bendigo Goldfield onto Falcon tenure 3• First wedge hit 1.2m @ 543 g/t Au with visible gold
Slide 15: Falcon Metals Limited Investor Relations
Falcon Metals Limited Investor Relations Suite 6, Level 6, 350 Collins St, Melbourne VIC 3000 Ben Creagh PO Box 106 Flinders Lane VIC 8009 E benc@nwrcommunications.com.au T +61 3 8648 6684 E tmarkwell@falconmetals.com.au ASX : FAL W falconmetals.com.au
Slide 16: Appendices
Appendices 16 COMPANY PRESENTATION | AUGUST 2025
Slide 17: Falcon Project Portfolio
Falcon Project Portfolio Hawkstone Project JV Pyramid Hill Gold Project, VIC Errabiddy Gold Project, • Largest land position in the prospective Bendigo Zone Gold WA Province • Earn-in to 70% plus 100% owned Errabiddy Project JV • HIGH-GRADE INTERSECTIONS tenure AT BLUE MOON • Cratonic margin gold pr
Slide 18: Pyramid Hill Project
Pyramid Hill Project Gold, VIC Multiple mineralised zones discovered The project areas occur on Dja Dja Wurrung, Taungurung and Yorta Yorta land. Falcon acknowledge their ongoing connection to the land and pay our respect to them, their culture and their elders, past, present and emerging. 18 COMPAN
Slide 19: The Opportunity
The Opportunity Screening undercover program well advanced • Over 200,000m of aircore drilled at Pyramid Hill • Over 150km of strike length of prospective structures being targeted • Rationalisation of tenure as reconnaissance drilling progresses • Regional screening continues to generate multiple g
Slide 20: Regional Target
Regional Target Large scale regional target emerging at Loddon Vale • Located 20km south of Kerang • Several north-northwest parallel zones are developing at Loddon Vale, similar to: • Falcon’s Karri Prospect; • The Four Eagles discovery (ASX: CYL); and • The Bendigo Goldfield • Next phase of drilli
Slide 21: Farrelly Deposit
Farrelly Deposit Mineral Sands, VIC High-grade mineral sands discovery The Farrelly Mineral Sands Project areas occur on Dja Dja Wurrung land. Falcon acknowledges their ongoing connection to the land and pay our respect to them, their culture and their elders, past, present and emerging. 21 COMPANY
Slide 22: High-grade Mineral Sands Discovery
High-grade Mineral Sands Discovery Underexplored world class minerals province • Victoria’s Murray Basin hosts several major mineral sands projects with associated Critical Minerals including Rare Earth Elements (REE) at advanced stages of development • Several of these are adjacent to Falcon’s nort
Slide 23: Farrelly Mineral Sands Deposit
Farrelly Mineral Sands Deposit Shallow high-grade discovery • Of 91 holes announced in May 2024: • 33 holes contained intersections >10% THM • 11 holes contained intersections >20% THM • Thick continuous zone of high-grade mineralisation defined over 1,200 x 600m • Open in several directions with so
Slide 24: Consistent Results
Consistent Results Shallow high-grade discovery • PHAC2062 26m @ 8.9% THM from 6m; including 15m @ 12.9% THM from 13m • PHAC2073 22m @ 9.2% THM from 8m; including 12m @ 15.1% THM from 16m; that also includes 3m @ 20.3% THM from 21m • PHAC2064 20m @ 9.0% THM from 10m; including 9m @ 14.9% THM from 17
Slide 25: Farrelly Deposit Cross Section
Farrelly Deposit Cross Section 25 COMPANY PRESENTATION | AUGUST 2025
Slide 26: Errabiddy Gold Project
Errabiddy Gold Project Gold and Base Metals, WA Gold and base metals targets This Errabiddy Gold Project area occurs on Wajarri Yamatji land. Falcon acknowledges their ongoing connection to the land and pay our respect to them, their culture and their elders, past, present and emerging. 26 COMPANY P
Slide 27: Errabiddy Project JV
Errabiddy Project JV Falcon Earning up to 70% of Craton Margin Gold Project • Located 220km northwest of Meekatharra • Situated in the Errabiddy shear zone on the north-western margin of the Yilgarn Craton • Similar structural setting to the 5.4Moz1 Tropicana Gold Mine • Advanced Olsen Well gold tar
Slide 28: Olsen Well Gold Target
Olsen Well Gold Target 3km long soil anomaly, open along strike • Initial phase of confirmatory soil sampling planned for Olsen Well extended the 10ppb Au soil anomaly from 3km to 5.8km in strike • Errabiddy is considered highly prospective and remains underexplored with no exploration drilling for
Slide 29: International Offer Restrictions
International Offer Restrictions 29 COMPANY PRESENTATION | AUGUST 2025
Slide 30: International Offer Restrictions
International Offer Restrictions This presentation does not constitute an offer of new ordinary shares (“New Shares”) of the Company in any Language of documents in Canada. Upon receipt of this document, each investor in Canada hereby confirms that jurisdiction in which it would be unlawful. In part
Slide 31: International Offer Restrictions
International Offer Restrictions New Zealand Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the New Shares has only been communicated or caused to be This presentation has not been register