Lincoln Minerals Limited · ASX:LML
Lincoln Minerals — Investor Presentation (July 2025)
28 slides from Lincoln Minerals's investor presentation, Jul 8, 2025
Slide 1: Unlocking Value – Developing Strategic Critical Mineral Projects
Unlocking Value – Developing Strategic Critical Mineral Projects in South Australia’s Gawler Craton Investment Presentation Tuesday, 8th of July 2025
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer and Competent Person Statement The information contained in this document (“Presentation”) has been prepared Lincoln Minerals Limited (“Company”). The future performance and actual results or developments may differ materially from those in the forward-look
Slide 3: Diversified Critical Minerals Portfolio: Four Key Commodities - Three Advanced Projects
Diversified Critical Minerals Portfolio: Four Key Commodities - Three Advanced Projects Exploration • Located in South Australia’s Gawler Craton: Potential for large-scale copper and Copper-Base Metals Discovery Hole BUDD1921 29.5m @ base metal mineralisation. • Multiple sulphide-bearing zones, 7km
Slide 4: Unlocking value with infrastructure in place
Unlocking value with infrastructure in place 4 Favourable Jurisdiction • All projects located within 5–35km of grid power and towns. • Port, power, water and road access in place supporting faster and cheaper project development. • Multiple port options available, including Port Lincoln and approved
Slide 5: Minbrie Copper-Zinc Project – Drill Holes Targeting High Quality Trap Zones
Minbrie Copper-Zinc Project – BUDD192 Drill Holes Targeting High Quality Trap Zones 5 Investor Presentation | July 2025 | lincolnminerals.com.au
Slide 6: Minbrie has All the Right Ingredients to be a Major Discovery
Minbrie has All the Right Ingredients to be a Major Discovery Geological Setting • Located in South Australia’s Gawler Craton: Potential for large-scale & Deposit Type copper, gold, and base metal mineralisation. Host to some of South Australia’s most significant mineral systems like Olympic Dam, Ca
Slide 7: Minbrie Discovery – Previously Overlooked
Minbrie Discovery – Previously Overlooked Reinterpreting legacy data – Minbrie breakthrough February 2025 BUDD1921: A fortuitous discovery reignites Minbrie 29.5m @ 0.8% copper (Cu), 7.5% lead (Pb), 1.9% zinc (Zn), 9.0 g/t silver (Ag) from 131.1m including: • 12m @ 1.3% Cu, 12.4% Pb, 2.0% Zn, and 13
Slide 8: Kalinjala Shear Zone: A Crustal Conduit Feeding High-Quality Traps
Kalinjala Shear Zone: A Crustal Conduit Feeding High-Quality Traps Potential source: • Copper: Interpreted to be sourced from Hiltaba Suite Granites the metallogenic source behind Olympic Dam, Prominent Hill, and Carrapateena. • Local mafic units are another potential source for Trap site the copper
Slide 9: Drilling Planned in Northern Section
Drilling Planned in Northern Section 1. Immediate targets focused around BUDD192 • Testing up dip and down dip and along strike between Magnetite BIF Footwall & Mylonite Shear Zone • Testing for an oxide and/or a supergene zone 2. Advanced structural target around BURCD020A • Testing E–W fault inter
Slide 10: Strategic Drill Program – Trap Zone Targeting
Strategic Drill Program – Trap Zone Targeting Three priority trap zones identified: • Trap Zone 1: Between magnetite BIF footwall & Mylonite Shear Zone, within reactive Katunga Dolomite Lithologies. Around BUDD1921: 29.5m @ 0.8% Cu, 7.5% Pb, 1.9% Zn, 9.0 g/t Ag from 131.1m Trap Zone 2 • Trap Zone 2:
Slide 11: From Simple Cross Sections to a Complex 3D Model
From Simple Cross Sections to a Complex 3D Model Original interpretation1 before re-logging and re-assay New modelling2 revealing the complexity of the target zone which is program (February 2025). de-risking upcoming drilling (June 2025) 1 LML ASX announcement dated 12 February 2025, titled “Minera
Slide 12: Technical Team – Proven Discoveries and Regional Expertise
Technical Team – Proven Discoveries and Regional Expertise Technical consulting team with +100 years of combined experience in the Gawler Craton and base metals Justin Gum (Phd) is a geologist with 37+ Shane O'Connell is a specialist in years experience. He’s led the discovery of resource estimation
Slide 13: Sulphide System Complexity – Multiple Mineralising Events Identified
Sulphide System Complexity – Multiple Mineralising Events Identified • Complexity implies multiple hydrothermal and structural pulses, enhancing grade and zonation variability • Underpins potential for zoned mineralisation and multiple ore shoot styles • At least four distinctly different types of s
Slide 14: Veining at end of previous drill holes assisting vectoring towards targets
Veining at end of previous drill holes assisting vectoring towards targets Majority of Historic Drilling Stopped Short of the Target Zone BURCD0301 pXRF 3.0% Cu @ 273.9m in sulphide vein with visible Bornite 4m from end of hole. BUDD1041 pXRF 2,200ppm Pb and 1,700ppm Zn @ 231m in sulphide vein 7m fr
Slide 15: Drilling Area - Targeting Trap Zone 1 & 2
Drilling Area - Targeting Trap Zone 1 & 2 BUDD1921 is 29.5m @ 0.8% copper (Cu), 7.5% lead (Pb), 1.9% zinc (Zn), 9.0 g/t silver (Ag) from 131.1m BURCD030 shows a correlation with BUDD192, terminating just metres from expected mineralisation, pXRF showing copper bornite vein at 274m (up to pXRF 3.03%
Slide 16: Drilling Area - Targeting Trap Zone 3
Drilling Area - Targeting Trap Zone 3 High Priority Area Along Major Cross-Cutting Structure • Assays from core around BURCD020A have just been received. • Drill holes still being designed around footwall mineralised intercept BURCD020A1: – 3m @ 0.2% Pb, 0.4% Zn from 347.1m – 8m @ 0.1% Pb, 0.4% Zn f
Slide 17: Next Steps
Next Steps • Finalise Drill Hole designs around footwall mineralised intercept BURCD020A • Finalise Permitting Submission and Gain Approvals. • Select and mobilise driller • Drill in H2CY25 17 Investor Presentation | July 2025 | lincolnminerals.com.au
Slide 18: Multiple Catalysts Across Commodity Classes
Multiple Catalysts Across Commodity Classes Copper-Base Metal • Targeted Drilling Around Discovery Hole BUDD192 and Testing Other Trap Zones Minbrie Project • Logistics desktop study of shipping concentrate through Whyalla port (internal use only) Graphite • BAM Scoping Study (H2CY25) Kookaburra Gra
Slide 19: For Further Information
For Further Information: Jonathon Trewartha Chief Executive Officer Lincoln Minerals Limited Jonathon.trewartha@lincolnminerals.com.au 1300 137 116 Kristin Rowe Investor and Media Relations NWR Communications kristin@nwrcommunications.com.au +61 404 88 98 96 Community/Investor Enquiries Community@li
Slide 20: Appendix
Lincoln Minerals Appendix “aa ASX:LML
Slide 21: Robust Pipeline of Projects Spanning the Development Curve
Robust Pipeline of Projects Spanning the Development Curve Graphite and High Purity Iron projects are investor ready; Minbrie (Cu-Zn) emerging as a third potential company-maker. • Diverse asset portfolio covering projects from early-stage greenfields exploration to advanced development stages. • Ba
Slide 22: Kookaburra Graphite Project – First Mover Advantage
Kookaburra Graphite Project – First Mover Advantage Competitive Advantages: • Ultra-high-grade graphite at surface within an existing Mining Lease • Located near key infrastructure on South Australia’s Eyre Peninsula • Low start-up capital $29M1 • Compelling starter pit supports near-term developmen
Slide 23: Kookaburra BAM Results Confirm Battery-Grade Purity
Kookaburra BAM Results Confirm Battery-Grade Purity • Purity up to 99.97% TGC1 achieved from Kookaburra Graphite in multiple independent lab test runs • Meets and exceeds lithium-ion battery anode specifications1 (≥99.95% TGC) • Purification achieved without hydrofluoric acid (HF) – significantly sa
Slide 24: Kookaburra Graphite Project – Compelling economics
Kookaburra Graphite Project – Compelling economics Compelling project economics Key Financial and Production1 Metrics • Pre-tax NPV10 of A$114m or (US$77m); Strong Financial metrics • Pre-tax IRR of 41%; • Start-up capital requirement of A$29m (US$19m); • Average Cash EBITDA1 of ~A$23m (US$15m); Low
Slide 25: High Purity Iron and DRI Project – Advanced and Strategically Positioned in South Australia
High Purity Iron and DRI Project – Advanced and Strategically Positioned in South Australia Location • 100% Lincoln-owned Australian assets • Lower capital requirements with major infrastructure nearby; less than 5km from power, 15km from mains water1, and within 60km of one active port and two appr
Slide 26: Direct Reduction Iron is a Growing Market
Direct Reduction Iron is a Growing Market ⎪ Demand for Direct Reduction Iron Rising: Surge in Electric Arc Furnace builds driving need for high-grade DRI material GLOBAL CRUDE STEEL AND DRI PRODUCTION Central/North Europe (K Tonnes) West/South Europe 35 800 Canada 700 30 600 China Crude Steel Produc
Slide 27: Appendix - Mineral Resources Summary
ASX:LML Appendix 1 - Mineral Resources Summary 27 Green Iron Project – Mineral Resources Summary Kookaburra Graphite Project Total Mineral Resources3 JORC Year Tonnes Mass Recovery Fe Head SiO2 Head Fe Con SiO2 Con Deposit Name Classification Cut-off Contained Status (Mt) (%) (%) (%) (%) (%) Measure
Slide 28: Uranium – Strategic Position in Leading Province
Uranium – Strategic Position in Leading Province Lincoln has multiple highly prospective uranium targets across its existing tenement portfolio, all located in South Australia’s premier uranium province. Known uranium mineralisation exists on each project area, including historical drilling and rece