Tungsten Mining Nl · ASX:TGN
Tungsten Mining Nl — NWR Melbourne Resources Lunch 2025
15 slides from Tungsten Mining Nl's conference presentation, Oct 14, 2025
Slide 1: A tungsten-tipped solution to the world’s critical minerals challenges
ASX : TGN A tungsten-tipped solution to the world’s critical minerals challenges NWR Melbourne Resources Lunch 14th October 2025
Slide 2: Important Notices & Disclaimers
Important Notices & Disclaimers Important Information and Disclaimer Tungsten Mining NL (‘Tungsten Mining,’ ‘TGN’ or ‘the Company’) is an Australian listed resources company. This presentation (“Presentation”) has been prepared by TGN and is provided for information purposes only. This Presentation
Slide 3: Corporate Snapshot
Corporate Snapshot Shares Last Share Undiluted Net on Issue Price Market Cap Cash 932.6 Million* $0.087 as at $81.1 Million as at $2.52 Million as at 30th 4,250 Unlisted 13th October 2025 13th October 2025 June 2025 convertible notes Additional $9.49 Million 107.5 Million to be issued1 Raised in Sep
Slide 4: Why Invest in Tungsten?
Growing Industry Why Invest in Tungsten? Demand for Tungsten2 Booming Demand, Restricted Supply, Rocketing Prices 26% 26% Transport Industrial use Rocketing Prices Tungsten hits 12-year highs, after China added End User tungsten to the critical minerals export restriction list in February 2025. 9% D
Slide 5: Strategic metal. World-class asset. Aligned timing.
Strategic metal. World-class asset. Aligned timing. TGN has one of the largest Tungsten Resource Bases Outside of China 180,000 tonnes TGN is advancing its portfolio at a time when global supply is limited and tightening. Forecast 2025-2033 92,000 tonnes 2021 2022 2023 2024 2025 2026 2027 2028 2029
Slide 6: TGN Global Mineral Resource Estimate
TGN Global Mineral Resource Estimate Mt Mulgine Mineral Resource Global @ 0.05% WO3 Cut-off Tonnes WO3 WO3 Mo Mo Au Au Ag Ag Cu Cu Classification Mt % kt ppm kt g/t koz g/t Moz % kt Indicated 183 0.11 205 290 52 0.13 770 5 32 0.04 69 Inferred 76 0.11 85 240 18 0.09 230 5 12 0.03 24 TOTAL 259 0.11 29
Slide 7: Tungsten Deposits Resource Comparison
Global Tungsten Assets Measured & WO3 WO3 Rank Deposit Name Country Indicated Resources Grade Contained Status Company Source Significant Tungsten Assets (outside of China) (Mt) (%) (kt) In Fireweed 1 Mactung Canada 41.5 0.73 303 Link Development Metals Tungsten Deposits Resource Comparison Measured
Slide 8: Mt. Mulgine Project
Mt. Mulgine Project Flagship Asset Major Resource Mt. Mulgine ranks as one of the largest tungsten deposits outside of China. Polymetallic Deposit Contains significant Tungsten (WO₃) & Molybdenum (Mo), with Copper (Cu), Gold (Au) and Silver (Ag) and other by-product revenue potential. Significant Ex
Slide 9: Low-Cost Development Strategy
Low-Cost Development Strategy Stage 1 Stage 2 Stage 3 Oxide Gold Project1 Small-Scale Tungsten Project Large-Scale Tungsten Project 1. Target supergene enriched gold above primary tungsten mineralisation 2. Additional Lower- grade gold in tungsten pit overburden 3. Primary tungsten mineralisation be
Slide 10: TGN Timeline of Planned Activity
TGN Timeline of Planned Activity Significant milestones and catalysts expected over next 12-24 months1 Q1 Q2/ 2027 Q3 Q2 2026 2026 Q4 Completion of Mt. Mulgine Nov 2025 Commence (Tungsten) Mt. Mulgine 2025 Completion of (Tungsten) DFS Oct Tungsten PFS & DFS2 2025 Gold DFS Q4 OTC Listing 2025 Commenc
Slide 11: Strategic Forward Pathway
Strategic Forward Pathway Samples for Downstream Testing Concentrate Samples provided to downstream users to test suitability to downstream processing Continue Dialogue Continue exploring methods of cooperation US Market Positioning Secure Strategic US offtake Target US Focused Investor Engagement (
Slide 12: TGN – Significant Value Uplift Potential
TGN – Significant Value Uplift Potential TGN has significant upside potential when compared to peers in the tungsten production market EV/Reserve WO3 Contained Reserve Company A$/t contained WO3 Tonnes Almonty 55,789 51,444 EQ Resources 6,302 33,802 Tungsten Mining 411 177,550 EV/Reserve (A$/t conta
Slide 13: Corporate Overview – Board & Management
Corporate Overview Board & Management Gary Tan Sri David Russell Chew Jimmy Teck Wong Simon Lyons Law Clark Wai Chuen Lee Borck Non-Exec Non-Exec Deputy Non-Exec Non-Exec Non-Exec Executive CFO & Company Chairman Chairman Director Director Director Director Secretary Experienced company Highly exper
Slide 14: Contact Us
Contact Us Telephone Website +61 8 9486 8492 www.tungstenmining.com E-mail Level 4, 46 Colin Street, West Perth 6005 info@tungstenmining.com Western Australia ASX : TGN
Slide 15: Appendix A – Peer Comparison Table
Appendix A – Peer Comparison Table Enterprise Total Resources Development Market Cap Reserves M&I Tonnes Inferred Total Reserve Measured and Ind Inferred Resource Contained Reserves Contained M&I Contained Inferred Property Name Owner Value Owner % Contained Tonnes Source Stage (AUD M) Tonnes (Mt) (
Tungsten Mining NL — NWR Melbourne Resources Lunch 2025 on 6ix