Anax Metals Limited · ASX:ANX
Anax Metals — Investor Presentation (December 2025)
33 slides from Anax Metals's investor presentation, Dec 11, 2025
Slide 1: Whim Creek Copper Production & Processing Hub
For personal use only WHIM CREEK COPPER PRODUCTION & PROCESSING HUB PILBARA REGION WESTERN AUSTRALIA ASX:ANX December 2025
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Anax Metals Limited (the Company) based on information from its own and third-party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, despatch or provision of this pre
Slide 3: Strategic Partnership
For personal use only STRATEGIC PARTNERSHIP 3
Slide 4: Anax Metals – The Platform for Pilbara Copper
ANAX METALS – THE PLATFORM FOR PILBARA COPPER Anax is working towards copper production from the Whim Creek base metals processing hub For personal use only THE OPPORTUNITY THE VISION Compelling opportunity to invest in To establish a copper business in a fully permitted copper mine, the Pilbara wit
Slide 5: Completes Strategic Placement to Gold Valley Pilbara and Secures Loan Funding
COMPLETES STRATEGIC PLACEMENT TO GOLD VALLEY PILBARA AND SECURES LOAN FUNDING TO REPAY MDP CONVERTIBLE NOTES For personal use only $2.4 million strategic placement completed with Gold Valley Pilbara Pty Ltd (Gold Valley) an experienced mining group, strengthening the register and creating a long-ter
Slide 6: About the Gold Valley Group of Companies
ABOUT THE GOLD VALLEY GROUP OF COMPANIES The Gold Valley Group of companies is a Perth-based, vertically integrated mining and resources conglomerate. The group has diversified interests spanning mining (iron ore, copper, gold), energy, agribusiness and mining services. The group is led by an experi
Slide 7: Whim Creek Base Metals Processing Hub
For personal use only WHIM CREEK Base Metals Processing Hub
Slide 8: Whim Creek Copper Project Summary
WHIM CREEK COPPER PROJECT SUMMARY Near Term Copper Production – Fully Permitted with Existing Infrastructure For personal use only FULLY PERMITTED DEVELOPMENT STUDIES An established mine site with ANX confirms production of metal approval for in-pit tailings over an initial 8-year life. NPV disposal
Slide 9: Whim Creek Project Financial & Economic Outcomes
WHIM CREEK PROJECT FINANCIAL & ECONOMIC OUTCOMES DFS + Bioleaching Scoping Study CONCENTRATOR HEAP LEACH 2 COMBINED METRIC3 (DFS)1 CONTRIBUTION PROJECT For personal use only Operating Costs (mining, processing, freight and admin) $ 628 M $ 46 M $ 674 M Operational Cashflow $ 451 M $ 85 M $ 536 M Fre
Slide 10: Whim Creek Project: A Processing Hub
WHIM CREEK PROJECT A Processing Hub With Sorting, Concentrator And Heap Leach Facilities Whim Creek Overview Location 120 km from Port Hedland and Karratha For personal use only Mineralisation VMS Site Infrastructure Haul Roads, Workshops, Offices, Bore field, Crushing Plant, Heap and Ponds, SX and
Slide 11: Growth - The Benefits of Consolidation
GROWTH - THE BENEFITS OF CONSOLIDATION Ideally positioned to become a copper processing hub for the Pilbara For personal use only 01. FULLY PERMITTED Is ideally suited for a regional processing hub. 02. WHIM CREEK FACILITIES Treat oxide, transitional and primary sulphides ores from surrounding orebo
Slide 12: Whim Creek Project: Pursuing Near Term Revenue Opportunity
WHIM CREEK PROJECT Pursuing near term revenue opportunity For personal use only 01. NEAR TERM REVENUE Anax is pursuing near term revenue through the production of road base / aggregates from existing waste rock. 02. CLIENTS Working with Castle Civil Pty Ltd, to develop a business to turn waste rock
Slide 13: Upcoming Planned Works
UPCOMING PLANNED WORKS Progressing the Whim Creek project into production and beyond 1 2 3 4 Whim Creek For personal use only optimisation Debt Funding Equity Funding Development 2026 ANAX SCHEDULE Q1 Q2 Q3 Q4 Whim Creek Optimisation Debt Funding Equity Funding FID - Development Regional Consolidati
Slide 14: Exploration Overview
For personal use only EXPLORATION OVERVIEW 14
Slide 15: Whim Creek Exploration – Immediate Organic Growth
WHIM CREEK EXPLORATION – IMMEDIATE ORGANIC GROWTH New application 01. LOCATION For personal use only Located in the highly prospective Archaean granite- greenstones of the Pilbara region, encompassing the width of the Whim Creek Greenstone Belt. 02. MINE EXTENSIONS Near mine extensions to known copp
Slide 16: Whim Creek Exploration: ACL/Salt Creek
WHIM CREEK EXPLORATION ACL/Salt Creek Salt Creek underground design and location of previous resource drilling SALT CREEK1,2 For personal use only High-grade Indicated and Inferred Resource of 2.75 Mt containing: 95,000 Tonnes Zn and 35,700 Tonnes Cu Last extensional drilling campaign at Weste
Slide 17: Salt Creek Long Section
SALT CREEK Long section1 The copper equivalent (CuEq) calculation adjusts individual grades for all metals included in the metal equivalent calculation applying the following modifying factors: metallurgical recoveries, payability, TC/RC and metal prices. For personal use only Commodity prices (US$)
Slide 18: Whim Creek Exploration: Evelyn
WHIM CREEK EXPLORATION1 EVELYN EVELYN WEST TREND For personal use only Multiple untested VMS targets Series of untested strong, late- in prospective stratigraphy. time VTEM anomalies all under >50% of the tenement under cover. shallow cover. Fixed Loop EM over northern Late 2024 field reco
Slide 19: Whim Creek Exploration: Mons Cupri South
WHIM CREEK EXPLORATION Untested For personal use only MONS CUPRI SOUTH1,2 Key lithological contact well- defined, but it remains poorly tested. Previous drilling intersected Zn and chlorite / sericite alteration at contact in down-dip positions, suggesting a broad active system. Mons Cupri area
Slide 20: Overview Technology
For personal use only OVERVIEW TECHNOLOGY
Slide 21: Technology Driving Value and Growth
TECHNOLOGY DRIVING VALUE AND GROWTH Anax focuses on Technology as a key driver to de-risk the project, deliver leveraged economic outcomes and support growth For personal use only Pre-concentration technology Pre-concentration technology Bioleaching technology utilises decouples mining and reduces t
Slide 22: Preconcentration - Ore Sorting
PRECONCENTRATION - ORE SORTING 01. Preconcentration including ore sorting and gravity For personal use only separation is widely used throughout the mining business. 02. The technology is well established, reliable, with an extensive track record over the last 20 years. 03. Successful commercial app
Slide 23: Whim Creek Bioleaching, Solvent Extraction and Electrowinning
WHIM CREEK BIOLEACHING, SOLVENT EXTRACTION AND ELECTROWINNING The modern commercial application of bacterial leaching began in the 1950s at Kennecott's Bingham mine near Salt For personal use only Lake City. Solvent extraction and electrowinning technology came to the fore in the 1970/80s driven by
Slide 24: Zinc Sulphate – Potential to Produce Eco Friendly Refined Product
ZINC SULPHATE – POTENTIAL TO PRODUCE ECO FRIENDLY REFINED PRODUCT The Anax bioleach process results in the co leaching of zinc sulphate along with the copper. Many of the polymetallic resources in the Pilbara For personal use only contain significant quantities of zinc and leaching presents an oppor
Slide 25: Corporate and the Team
For personal use only CORPORATE AND THE TEAM
Slide 26: Capital Structure
CAPITAL STRUCTURE Summary ASX Code ANX Share Price at 10 December 2025 $0.010 Market Capitalisation at 10 December 2025 $11.0M For personal use only Cash at 30 Sep 2025 $1.40M Placement Proceeds $2.41M Pro-forma Cash $3.81M Borrowings at 10 December 2025 1 $6.60M Shares on Issue 1,102,131,794 ANXO L
Slide 27: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE ENVIRONMENTAL SOCIAL GOVERNANCE Anax is actively pursuing a development strategy for Anax has a range of stakeholders, from traditional owner The Board of Directors of ANX is responsible for For personal use only Whim Creek including the integration of Ore-sortin
Slide 28: Highly Experienced Board of Directors
HIGHLY EXPERIENCED BOARD OF DIRECTORS PHILLIP JACKSON Barrister and solicitor with significant legal and international corporate experience, (Barrister and Solicitor) specialising in the areas of commercial and contract law, mining and energy law and corporate governance. He has been a Director and
Slide 29: Management Team
MANAGEMENT TEAM JENINE OWEN Jenine joined Anax in 2020, where she is responsible for corporate risk For personal use only (BCompt, CAANZ, GAICD) management, financial management and financial reporting. She is a Chartered Chief Financial Officer Accountant with extensive finance and commercial exper
Slide 30: Appendices
For personal use only APPENDICES
Slide 31: Appendix 1: Resources and Reserves
APPENDIX 1: RESOURCES AND RESERVES RESERVES Ore Cu Zn Pb Ag Au Classification Deposit Mt % % % ppm ppm For personal use only Mons Cupri 1.06 1.46 1.58 0.68 38 0.28 Proven Sub-total 1.06 1.46 1.58 0.68 38 0.28 Mons Cupri 1.49 0.83 1.08 0.47 23 0.14 Whim Creek 0.72 1.54 1.14 0.15 7 0.06 Probable Evely
Slide 32: Appendix 2: Source Documents (Whim Creek Processing Hub)
APPENDIX 2: SOURCE DOCUMENTS (WHIM CREEK PROCESSING HUB) COMPANY NAME SOURCE DOCUMENTS For personal use only Sabre Resources https://www.asx.com.au Artemis Resources: https://www.alienmetals.uk Carlo Castle https://www.asx.com.au Munni Munni Develop: https://www.develop.com.au Kangaroo Caves
Slide 33: Geoff Laing | Managing Director
For personal use only Geoff Laing | Managing Director info@anaxmetals.com.au +61 8 6143 1840 Ground Floor West, 20 Kings Park Road, West Perth anaxmetals.com.au