Kincora Copper Limited · TSXV:KCC
Kincora Copper — Investor Presentation (June 2025)
44 slides from Kincora Copper's investor presentation, June 2025
Slide 1: More Deals, Drilling, Management Fees & Discoveries
KINCORA COPPER More Deals, Drilling, Management Fees & Discoveries June 2025 ASX & TSXV ticker: KCC
Slide 2: Cautionary Statement
Cautionary Statement Kincora Copper “KCC”: ASX & TSXV Kincora Copper Limited (ARBN 645 457 763) Certain disclosure may constitute "forward-looking statements”. In making the forward-looking statements, Kincora Copper Limited (“Kincora” or “the Company”) has applied certain factors and assumptions th
Slide 3: Why Kincora?
Kincora Copper “KCC”: ASX & TSXV Why Kincora? Industry Leading Team Targeting Tier-1 Scale Copper-Gold Discoveries Focused on the Macquarie Arc, NSW (Australia) Project Generator Model For Porphyry Projects 1 Six Deals Unlocks >$110m in Asset Level Funding Drilling & Management Fees Ramping Up 2 Rec
Slide 4: Corporate Snapshot: Significant Leverage To Success
Corporate Snapshot: Significant Leverage To Success Kincora Copper “KCC”: ASX & TSXV 1 First Earn-in/JV Mongolia + Fleet Space Second Earn-in/JV Market Cap $10.2m With AngloGold Fleet Space with Wongarbon Deal With AngloGold Ashanti Nyngan Deals + Raising Ashanti 0.08 6 2 Cash $1.8m (as at Mar 31, 2
Slide 5: Industry Leading Team: Track Record of Success
Industry Leading Team: Track Record of Success Kincora Copper “KCC”: ASX & TSXV Discovery Track Record Sam Spring • Ex leading mining analyst, Cameron McRae • Seasoned chairman, >10 yrs Goldman & Ocean Independent CEO & mining President & CEO, (amongst others) Director, Equities Chairman, Director e
Slide 6: Tier-1 Scale Copper-Gold Potential
Tier-1 Scale Copper-Gold Potential (same scale) Kincora Copper “KCC”: ASX & TSXV Cobar Superbasin Macquarie Arc – Porphyry Systems Kincora Partner/ Southern Gobi – Porphyry Systems Junee-Narromine Molong Major Project Funding Belt Belt Groups Source Northern AngloGold Junee- Ashanti Narromine Belt S
Slide 7: Project Generator Business Model
Project Generator Business Model Kincora Copper “KCC”: ASX & TSXV Identify Big Picture Assets Strategic Partner Process Revenue Stream • Leverage Industry Leading Technical • Right Partner & Deal Structure for each • Management Fee Income to Kincora Teams expertise Project • Targeting Self Funding F
Slide 8: Business Model: Is Delivering and is Further Scalable
Business Model: Is Delivering and is Further Scalable Kincora Copper “KCC”: ASX & TSXV 1 Seven Major Project Portfolios Four Partners To Date Two Further Partnerships • Six Porphyry Project Portfolios • Early Stage or Non-Core Projects • New Partner Discussions Advanced for Two • One Cobar-style Gol
Slide 9: Why New South Wales Porphyries?
Why New South Wales Porphyries? Kincora Copper “KCC”: ASX & TSXV Largest N Multiple World-Class Copper-Gold Mines intrusive • >$16b in M&A for producing assets 1 complexes of the Macquarie Arc are Two >10Moz Gold Equivalent 2 untested Discoveries/Resource Growth under cover Molong belt 1 >$385m in e
Slide 10: Kincora's Highly Prospective NSW Portfolio
Kincora’s Highly NYNGAN N WEST Kincora Copper “KCC”: ASX & TSXV Prospective NYNGAN NSW Portfolio Cobar Nyngan NYNGAN SOUTH Northern Junee- Narromine Belt Portfolio NEVERTIRE MULLA Kincora Project Project Project name NEVERTIRE SOUTH Northern Molong Belt (seeking partner) (Seeking partner) Project na
Slide 11: 6 Deals, >$110m Partner Funding, 3 More Targeted
6 Deals, >$110m Partner Funding … … 3 More Targeted MarketNon-core Cap jurisdiction $8.7m Greenfield, new district scale >$110m Large mineralised systems + motivated AI partner extensions of the Macquarie Arc proximal to world-class mines Molong Belt Northern Junee- Cowal Block Portfolio Cundumbul P
Slide 12: Why a Prospector/Project Generator Model?
Why a Prospector/Project Generator Model? Kincora Copper “KCC”: ASX & TSXV Commercial 1 ? • Non-Dilutive Structure (for listed equity investors) Why buy a junior explorer with • Cost of Capital / De-risked Funding Source Earn-In/JV agreements with • Funds / Aligns Discovery Risk industry partners •
Slide 13: Generator Model: Leverage to Exploration Success
Generator Model: Leverage to Exploration Success Kincora Copper “KCC”: ASX & TSXV Case Study: Success stories Current day: Porphyry examples ~£1.5b >C$250m >C$1b >C$30m >C$125m >C$150m >20x Mkt Cap >70x Mkt Cap >130x Takeover Mkt Cap >3x Mkt Cap >3x Mkt Cap >5x 40 8 0.4 0.8 1.4 35 7 0.35 0.7 1.2 30
Slide 14: Upcoming News Flow
Upcoming News Flow Drilling Updates >11,000m to date with exploration & management fees raping up 1 Nyngan project, earn-out agreement with AngloGold Ashanti (Kincora receives a 10% management fee) 2024 initial 6-hole scout drill program supports proof of concept, expands program • 1Q’2025 ground gr
Slide 15: Pipeline: Extensive Value Catalysts
Pipeline: Extensive Value Catalysts Kincora Copper “KCC”: ASX & TSXV Kincora Major Project YTD Jun Jul Aug Sep Oct Nov Dec KCC Mgmt Project Portfolios Names 2025 Fee Income Northern Junee- Nyngan 16 Narromine Belt Nevertire South holes Yes Nevertire Molong Cundumbul No Belt Southern Bronze Fox No Go
Slide 16: Foundations in Place: Strategy in Execution
Foundations in Place: Strategy in Execution Commodity Mix Favorable outlook for Copper & Gold, with Majors revisiting Growth Team Discovery & Operating Track Record Projects Portfolio of Projects with Tier-1 Scale Potential in Exploration & Mining Hotspots Funding Model Technical Partners, Asset Lev
Slide 17: Australia's Foremost Porphyry District
Australia’s Foremost Porphyry District Kincora Copper “KCC”: ASX & TSXV 17
Slide 18: Why Australia?
Why Australia? Kincora Copper “KCC”: ASX & TSXV Australia’s global ranking for 1: Gold Copper Resources 1st 2nd Production 2nd 6th “ As an economic geologist … NSW, Lachlan Fold Belt, for copper and gold, is the place to be” Richard Schodde, MinEx Consulting All gold-rich copper deposits in the Worl
Slide 19: World-Class Porphyry Belt Extensions Central West NSW v Central Andes
World-Class Porphyry Belt Extensions Central West NSW v Central Andes (same scale) Macquarie Arc, NSW Caserones Chile Central Andes, Chile/Argentina Ace Ace of of Spades Spades Canonba Canonba Los Helados SW SW Maricunga Target Target Lunahuasi Belt Duck Duck Josemaria Maricunga Creek Creek Filo Kin
Slide 20: Majors Expanding in World-Class Belts Macquarie Arc v Golden Triangle
Majors Expanding in World-Class Belts Macquarie Arc v Golden Triangle (same scale) Macquarie Arc, NSW Golden Triangle, BC >$150m cumulative Much larger junior >$1.1b cumulative market cap of exploration sector market cap of in the Golden Triangle porphyry explorers 1 than Macquarie Arc porphyry expl
Slide 21: Cowal & Northparkes Block Portfolios: Proximal to World-Class Mines
Kincora’s Cowal & Northparkes Block Portfolios: Proximal to World-Class Mines & Earn-ins/Exploration by the Majors Operator / project (left hand side image) NEWMONT CURRENTLY N N Kincora DRILLING UNDER EARN-IN Copper Trundle project 0 5 10km WITH KOONENBURRY 1 0 5 10km Evolution Mining Northparkes m
Slide 22: Why NSW as a Jurisdiction? v Globally
NORTHERN Why JUNEE-NARROMINE NSW as BELTEmerging a Jurisdiction? v Globally (+ MACQUARIE ARC IN Porphyry Districts Kincora Copper GENERAL) OUTSCORES RIVAL EMERGING PORPHYRY DISTRICTS “KCC”: ASX & TSXV Macquarie Arc Undercover Vicuña District Golden Northern Extensions (Central Andes, Triangle Andean
Slide 23: Hotspot for M&A
License owners Hotspot for Kincora N AngloGold 0 80 km A/Kincora M&A $1.6b cash offer 1 Inflection AngloGold A/Inflection FMG Mines / Advanced Projects >$16b in M&A FMG/ Magmatic - Newmont buys Newcrest (flagship Cadia) Magmatic - Evolution buys 80% of Northparkes (A$720m) for producing porphyry S2/
Slide 24: Hotspot for Exploration
License owners Hotspot for Kincora in Kincora N AngloGold discussions / 0 80 km A/Kincora Exploration negotiations Inflection AngloGold A/Inflection for earn-in/JV’s Exploration Stage Projects >$385m in FMG FMG/ Magmatic - Evolution’s discoveries and resource growth at Cowal - Alkane Boda/Kaiser dis
Slide 25: Existing Initial Partner Projects
Existing Initial Partner Projects 25
Slide 26: Northern Junee-Narromine Belt: Untested District-Scale Targets
Northern Junee-Narromine Belt: Newly recognised Kincora Copper “KCC”: ASX & TSXV District-Scale Series of Major Untested Targets 1 Nyngan N Junee-Narromine belt outline West Ace of Northern extension of the Macquarie Arc Known/interpreted complexes Spades is masked by post mineral cover (KCC/AGA) AN
Slide 27: Nyngan Project: Encouraging Results Expands Initial Scout Drilling Program
Nyngan Project: Encouraging Results Expands Kincora Copper “KCC”: ASX & TSXV Initial Scout Drilling Program For A Second Time N N NYDD011 • First phase Kincora-AngloGold Ashanti drilling at the Nyngan project NYDD005 NYDD005 supports proof of concept for new district-scale potential, generating more
Slide 28: Nevertire Projects: Step out drilling to test Cadia-Ridgeway and Northparkes style targets
Junee-Narromine belt outline N Nevertire Projects: Step out drilling to test Cadia- Known/interpreted complexes Nyngan Kincora Copper ANT survey coverage West Ace of “KCC”: ASX & TSXV Ridgeway and Northparkes style targets Spades Inflection Resources targets (post ANT survey) (KCC/AGA) Permitted dri
Slide 29: Wongarbon: New Ground + New Partnership
Wongarbon: New Ground Kincora Copper “KCC”: ASX & TSXV + New Partnership 0 10km WONGARBON Multiple stage deal: (Kincora) Innovative Partner Structure with Fleet Space Multiphysics + 2000m drilling WONGARBON Yarindury (Kincora) (Talisman) On strike from 14.7Moz AuEq Boda & Kaiser discoveries • June 2
Slide 30: Cundumbul: Drilling New Success Based AI Targets
Cundumbul: Drilling New Kincora Copper “KCC”: ASX & TSXV Success Based AI Targets Open Open Fifth hole New 2.2km x 800m copper target at Cundumbul 1 completed, sixth Andrews planned prospect • Ongoing maiden Earth AI drilling program tests new min zone (≤5.2% Cu) associated with a zoned hydrothermal
Slide 31: Mongolia: Exposure to the Rapidly Emerging Southern Gobi
Mongolia: Exposure to the Rapidly Kincora Copper “KCC”: ASX & TSXV Emerging Southern Gobi 4Q’2024 16 holes for Bronze 2516m Attractive exposure to the fourth emerging porphyry district (Bronze Fox) in the Southern Gobi 1 Tourmaline Hills Fox Intrusive Complex Bronze Fox Shuteen North Intrusive Compl
Slide 32: Potential Larger Partner Projects
Potential Larger Partner Projects Kincora Copper “KCC”: ASX & TSXV 32
Slide 33: Cowal Block: World-Class Gold and Porphyry Copper Terrane
FAIRHOLME (Newmont earning-into Cowal Block: World-Class Gold and with Koonenburry Gold) Porphyry Copper Terrane >500pm Cu &/ or >0.1g/t Au Evolution prospects Anomaly 2 Driftway C Gold corridor at Cowal hosts >14Moz gold endowment 1 Estimated endowment of Marsden deposit pre dismembered is ~5Mt Cu
Slide 34: Fairholme & Jemalong Projects
Fairholme & Kincora Copper “KCC”: ASX & TSXV Jemalong Projects Cowal Block Intrusive Complexes KCC’s Driftway C & Anomaly 2: Big open anomalies the size of Marsden NORTHERN FAIRHOLME MARSDEN Resource outline Advanced to earlier stage gold +/- copper targets (Kincora) (Evolution) with Cowal & Marsden
Slide 35: Northparkes Block: Clear Strategic Appeal
Northparkes Block: Kincora Copper “KCC”: ASX & TSXV Clear Strategic Appeal Inserts on slide 36 N Myall Northparkes is Australia’s second largest porphyry mine and was acquired by Region 2 Evolution Mining in December 2023 1 MAG/ • Continuous production since 1994 with first quartile cash costs FMG •
Slide 36: Trundle Project
Trundle Project Region 1: Northparkes Porphyry Cluster 2 • 80% interest for US$475m by Evolution in Dec 2023 • 5.5Mt Cu & 4.5Moz Au Region 2: Myall Porphyry Project 3 • $14m earn-in for 75% with FMG in March 2024 • 0.354Mt CuEq maiden resource • 22 porphyry deposits discovered, 9 economic Multiple a
Slide 37: Sole-Funded Exploration
Sole-Funded Exploration Kincora Copper “KCC”: ASX & TSXV 37 37
Slide 38: Southern Cobar: Condobolin Delivers Cheap Sole Funded Upside
Southern Cobar: Condobolin Delivers Cheap Sole Funded Upside With A Clear Route to Low Capital Commercialization Emerging new Cobar districts: Different levels of exploration Condobolin offers a very attractive high-grade gold and base metal targets at shallow depths maturity within the Cobar Superb
Slide 39: Appendix
2s a] © @ 2. 2. <=
Slide 40: Asset and Major Project Portfolio Summary
Asset and Major Project Portfolio Summary Kincora Major Project Project Exploration Partner / Mgmt Project Portfolios Names Stage Concept(s) Funding Fee Northern Junee- Nyngan, Nevertire, Nyngan West, Early, Arc extension undercover offering multi AngloGold Yes Narromine Belt Nyngan South, Nevertire
Slide 41: References
References Kincora Copper “KCC”: ASX & TSXV Slides 3 – Why Kincora? 1, 2 Over $110 million of potential partner funding for eight earlier stage and/or non-core projects via 6 deals and four partners, with over 11,000 metres of drilling and over A$5.5m of partner funded exploration since late 2024 in
Slide 42: References
References Kincora Copper “KCC”: ASX & TSXV Slide 19 - World-Class Porphyry Belt Extensions Central West NSW v Central Andes (same scale) 1 AngloGold Ashanti (the world’s 4th largest gold company by production) has earn-in agreements with Kincora for the Nyngan project and designated Duck Creek as a
Slide 43: References
References Kincora Copper “KCC”: ASX & TSXV Slide 28 - Nevertire Projects: Step out drilling to test Cadia-Ridgeway and Northparkes style targets 1 Refer Kincora releases Apr 7, 2025 “Second Major Earn-in Secured with AngloGold Ashanti” and Sep 9, 2025 “Kincora Secures New Strategic Ground On Austra
Slide 44: Kincora Copper Contact
KINCORA COPPER CONTACT Kincora Copper “KCC”: ASX & TSXV Sam Spring - President & CEO Email: sam.spring@kincoracopper.com Mobile: +61 431 329 345