Hammer Metals Limited · ASX:HMX
Hammer Metals — Investor Presentation (April 2026)
24 slides from Hammer Metals's investor presentation, April 2026
Slide 1: Copper, Gold and Critical Minerals
April 2026 Copper, Gold and Critical Minerals Combining Near-Term Development Potential and Exploration Upside Dan Thomas, Managing Director Investor Presentation ASX: HMX
Slide 2: Disclaimer and Competent Persons Statement
Disclaimer and Competent Persons Statement April 2026 The announcement of this presentation on the ASX platform has been It confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical
Slide 3: Hammer Metals: A Leveraged Copper, Gold and Critical Minerals Growth Play
April 2026 Copper / Cu 208,000t Hammer Metals A Leveraged Copper, Gold and Critical Minerals Growth Play Gold / Au 343,000oz A multi-commodity copper and critical minerals platform entering a catalyst rich phase of resource and project definition • 530kt Cu Equivalent JORC resources in Tier 1 Base M
Slide 4: Undeveloped copper and gold deposits in two of the world's great metal provinces
Undeveloped copper and gold deposits in two of the world’s great metal provinces YANDAL GOLD MOUNT ISA 24Moz of COPPER/GOLD gold produced One of the world’s largest • 54koz shallow gold base metal provinces resource with Mining Lease Application* • Copper and gold inventories >530kt of copper-equiva
Slide 5: Closing the Valuation Gap
Closing the Valuation Gap Today: FINANCIAL OVERVIEW BOARD AND MANAGEMENT • ~A$25-30m for >530kt CuEq JORC* resource Russell Davis Daniel Thomas and critical minerals exposure SHARE PRICE at (10/04/26) 3.4c Chairman Managing Director A successful 2026 would see: SHARES ON ISSUE (M) 893 Mark Whittle G
Slide 6: Mount Isa Cu-Au-Mo-Re
April 2026 Mount Isa Cu-Au-Mo-Re Queensland Established Copper, Gold and Critical Minerals Inventory with significant exploration upside • District scale footprint in proven terrain - >3,600km2 tenement position • Built for growth, multiple projects with a hub and spoke centered on a significant pro
Slide 7: Kalman, Mount Isa Queensland at a Glance
April 2026 Kalman, Mount Isa Queensland at a Glance Updated JORC Resource: 420kt of Cu Equivalent Metal • Indicated and Inferred MRE1 of 39Mt @ 0.53% Cu, 0.27g/t Au, 0.10% Mo, 2.1g/t Re (39Mt at 1.1% CuEq Rec)* • Open pit dominant - 71% of material - lower cost development focus of substantial size
Slide 8: Why Kalman is Different?
April 2026 Why Kalman is Different? • Using spot prices, average potential revenue per tonne of ore has increased by ~70% since Hammer’s 2023 resource report • One of the world’s highest grade undeveloped Molybdenum/Rhenium deposits. Both metals are recognised as critical metals • Hub and Spoke oper
Slide 9: What Unlocks Value at Kalman in 2026?
April 2026 What Unlocks Value at Kalman in 2026? Resource Expansion and Conversion • Resource Conversion to upgrade the remaining Inferred open pit Resource (<35%) to Indicated, to underpin a Scoping Study • Expansion targets with drilling designed to test lightly explored shallow mineralisation at
Slide 10: Molybdenum
Molybdenum April 2026 Another Strategic Critical Metal? • Unique physical properties with an ability to withstand high temperatures and pressures – making it ideal as an alloy additive • Wide range of stainless-steel applications - turbines (wind, nuclear and gas), steel strengthening, in EV’s and s
Slide 11: Rhenium
Rhenium April 2026 Growing Importance – Growing Demand • One of the world’s rarest elements (although not a Rare Earth Element) • Major applications include aerospace and defence industries • Within aerospace industry, rhenium is used a coating alloy in jet turbine engines • Recent demand increase d
Slide 12: Mount Isa Development Opportunity
Mount Isa Development Opportunity April 2026 Multiple Deposits + Significant Exploration Potential Refer to ASX announcement 4 November 2025 12
Slide 13: Kalman West
April 2026 Kalman West Targeting Large Scale Sedex System – Qld CEI Co-funded Drilling SEDEX-style mineral system identified at Kalman West following regional and prospect-scale reviews • Target validated with $176,000 GSQ CEI grant towards diamond drilling of target horizon. • High-grade gold miner
Slide 14: Multiple JV's with Global Miners
Multiple JV’s with Global Miners April 2026 Maximising the opportunity for exploration success through external collaboration, risk reduction and capital efficiency. External technical validation of exploration large scale highly prospective targets. Maiden drilling South Hope program Resource compl
Slide 15: Yandal Gold Project
April 2026 Yandal Gold Project Western Australia Highly prospective, under-explored land package in the heart of the highly prospective Yandal Gold Belt • ~760km2 tenement position • Shallow Oxide potential and near term commercial pathway at Orelia North Gold Deposit (see ASX Announcement 24 July 2
Slide 16: North Orelia – Shallow Gold Deposit
North Orelia – Shallow Gold Deposit April 2026 Mining License Application Submitted Mineralisation outlined over a 2km strike length within multiple structures • Drilling at Orelia North Target 1 returned prospective shallow gold results including1: • 8m at 4.2g/t Au from 20m in BWSRC0025 including:
Slide 17: 2026 – Defining Scale and Value
2026 – Defining Scale April 2026 and Value With significant commodity price tail winds, established resources are set for advancement MOUNT ISA COPPER GOLD AND CRITICAL MINERALS • Drilling for resource inventory growth at Kalman and regional targets (targeting 100kt copper equiv.) • Mining studies o
Slide 18: Investment Summary and Key Catalysts
Investment Summary ASX:HMX and Key Catalysts • Large under-recognised copper and critical minerals resource base. CATALYSTS (2026) • Clear pathway to studies and value definition in 2026 • Kalman drilling (late April) – resource growth and scoping study inputs. • Gold provides additional upside opti
Slide 19: Contact
ASX:HMX Contact Daniel Thomas Managing Director daniel@hammermetals.com.au L2, 41 Colin Street West Perth WA 6005 Phone: +61 8 6369 1195 www.hammermetals.com.au @HammerMetals
Slide 20: Kalman Resource Estimate & Notes on Copper Equivalence Calculation and Metallurgical Recoveries
April 2026 Kalman Resource Estimate & Notes on Copper Equivalence Calculation and Metallurgical Recoveries The Kalman Mineral Resource Estimate was updated in May 2023 in accordance with the JORC Code (2012 Edition). (Refer to the ASX Release dated 8th May 2023 for full details of the Resource Estim
Slide 21: Overlander and Jubilee Mineral Resource Estimates
April 2026 Overlander and Jubilee Mineral Resource Estimates The 100%-owned Overlander Project is situated 60 kilometres to the southeast of the mining centre of Mount Isa in North The 51%-owned Jubilee Deposit is situated 50 kilometres west of Mount Isa in North West West Queensland and 6 kilometre
Slide 22: Elaine and Mount Philp Mineral Resource Estimates
Elaine and Mount Philp Mineral Resource Estimates April 2026 The 100%-owned Elaine Cu-Au deposit is situated on granted exploration licence 14022, approximately 50km east of Mount Isa in The Mineral Resource Estimate is based on 48 diamond and reverse circulation (RC) drillholes North West Queenslan
Slide 23: Lakeview and Orelia North Mineral Resource Estimates
Lakeview and Orelia North Mineral Resource Estimates April 2026 The Orelia North deposit lies within E36/869, which is held by Carnegie Exploration Pty Ltd, a 100%-owned subsidiary of Hammer Metals Limited located approximately 65 kilometres northeast of Leinster, Western Australia The 100%-owned La
Slide 24: Notes
Notes ASX:HMX 24