Flagship Minerals Limited · ASX:FLG
Flagship Minerals — Investor Presentation (September 2025)
28 slides from Flagship Minerals's investor presentation, Sep 29, 2025
Slide 1: Corporate Overview
Metals that Matter. For personal use only Corporate Overview ASX: 29 September 2025
Slide 2: Strategy and Projects
Salares Norte Gold Fields Rosario Copper Strategy and Projects Flagship Minerals El Salvador Codelco Chanaral Low Capex and Opex projects Santo Domingo Capstone Copper For personal use only Mantoverde in superior strategic settings Capstone Copper Nueva Esperanza Kingsgate La Coipa Kinross 1. Cost L
Slide 3: Corporate snapshot
Corporate snapshot Compelling value drivers, underwritten by a large Au inventory For personal use only Paul Lock Chairman & Managing Director Capital Structure1 Broad experience in international mineral resource initiatives . Former Market Cap1a A$30.1m @ 12c/share project financier and corporate a
Slide 4: Pantanillo Gold and Rosario Copper
Pantanillo Gold Rosario Copper Flagship Minerals Advanced Large Scale Oxide Gold Project Fenix - RIO2 (TSX: RIO) 4.8 Moz @ 0.38g/t Au M&I QFE in the prolific Maricunga Gold Belt, Chile. For personal use only US$1,237/oz Au AISC12 US$125m Const. funding with Wheaton Precious Hosts 47.4Mt @ 0.69g/t Au
Slide 5: Flagship's current gold peer group
As the growth shown in this graph may not be achievable, this information should not be relied upon by investors. Flagship's current gold peer group 4 How much are you paying for those gold oz's? For personal use only 300 Flagship Minerals: ~A$30/oz Au5 Enterprise Value (A$, 26 September 2025) / M&I
Slide 6: Growth analogue
As the growth shown in this graph may not be achievable, this information should not be relied upon by investors. Growth analogue 4,5,10,11,12 Under Construction ~A$960m Rio2's Fenix project is located 40km north of Pantanillo For personal use only 800 700 Rio2 (TSX: RIO, MCap ~A$960m) Fenix (Chile)
Slide 7: Pantanillo: Advanced oxide gold
Pantanillo: Advanced oxide gold 4,5,6,11,12 Strong analogues and scale potential, positioning for lower cost For personal use only 0.8 Flagship Minerals (ASX: FLG) Flagship will achieve this focusing on oxide gold Pantanillo (Chile) (and copper) i.e. heap leachable mineralisation: 1.05 Moz Au QFE* H
Slide 8: A plan for growth
A plan for growth Leveraging substantial work to date for an accelerated For personal use only work program. WE ARE HERE Pantanillo Option Signed Assess and validate exploration, drilling, metallurgical data Re-assay existing Core & Lab Pulps, confirmatory met testing Prep drill data and assess requ
Slide 9: Pantanillo Gold
Pantanillo Gold The Maricunga Gold Belt is a leading gold province, with a >100Moz Au endowment. For personal use only Flagship's Pantanillo >110km2 Exploitation Concessions: • 47.4Mt @ 0.69g/t Au for 1.05Moz Au = <0.5% of total holding. • QFE to be converted to JORC (2012) Mineral Resource. • Targe
Slide 10: Pantanillo Gold
Pantanillo Gold 850m x 200-600m, Open along strike and down dip On same trend and 12km from Volcan For personal use only Mineralisation intersected from surface to over 600m vertical depth below surface: • Best intersection on a gram x meter basis is 493m @ 0.53g/t Au from 9m [Hole PN-03]. • Highest
Slide 11: Pantanillo Gold: column leach testwork
Pantanillo Gold Column leach testwork shows high and rapid gold recovery for oxide mineralisation For personal use only High gold recoveries were achieved through The column leach testwork results derisk and facilitate cyanidation of crushed material Flagship’s next phase of leaching testwork. • Gol
Slide 12: Inventory Growth Plan I
Inventory Growth Plan I Flagship has a 4 step plan to grow its gold inventory. For personal use only 1. Lowering Cut-off Grade: • Current QFE cut-off grade is 0.3g/t. • Potential to be lowered to 0.15-0.20g/t Au in line with other projects. • Capturing solid green and blue blocks within current pit
Slide 13: Inventory Growth Plan II
Inventory Growth Plan II Substantial drill intersections under current Pit Shell = Opportunity For personal use only Flagship Minerals | Metals that Matter 13
Slide 14: Inventory Growth Plan II
Inventory Growth Plan II Substantial drill intersections under current Pit Shell = Opportunity For personal use only Flagship Minerals | Metals that Matter 14
Slide 15: Inventory Growth Plan II
Inventory Growth Plan II Substantial drill intersections under current Pit Shell = Opportunity For personal use only Flagship Minerals | Metals that Matter 15
Slide 16: Pantanillo - Key Takeaways
Pantanillo - Key Takaways • An advanced oxide gold project For personal use only • Measured (~80%) and Indicated (~20%) mineralisation • Conversion to JORC compliant MRE in 2025 • Material MRE update in 2025, without drilling • Strong analogues and scale potential - Rio2 - Fenix - Saturn Metals - Ap
Slide 17: Rosario Copper Project
For personal use only Rosario Copper Project High Grade Oxide Copper-Silver Flagship Minerals | Metals that Matter 17
Slide 18: Rosario Cu: Infrastructure rich setting
Rosario Cu Infrastructure rich setting. For personal use only Chile has a world class copper endowment. Rosario is a high grade oxide style Cu-Ag project located in a highly active mining district. Mineralised zones are associated with fractured and brecciated rocks. Oxide copper cathode attracts a
Slide 19: Rosario Cu: Highly prospective, under explored
Rosario Cu Highly prospective, under explored. For personal use only Rosario has all the hallmarks of a low cost high margin oxide copper project. Three distinct prospective trends with a combined strike length of ~15km: • The zones are interpreted to be from 20m wide up to 200m wide, with assays up
Slide 20: Important Information
For personal use only Important Information Flagship Minerals | Metals that Matter 20
Slide 21: Important information
Important information Disclaimer Important This presentation has been prepared by Flagship Minerals Limited, a Singapore based company with To the extent permitted by law, Flagship and its officers, employees, related bodies corporate and For personal use only Reg. No. 201729187E (‘FLG’ or ‘Flagship
Slide 22: Important information
Important information Competent Persons Statement for RK Lithium Project MRE 2025 and titled 'Convertible Note Update - Strong Support Received'; Tranche 2 for A$200k principal The information in this report that relates to Mineral Resources is based on information compiled by Ms outstanding and yie
Slide 23: Important information
Important information Chile, see: https://www.rio2.com/_files/ugd/d7ae14_940ee076a8ea40f0ac84d3edbaf83c67.pdf c. Hochschild's NI 43-101 Technical Report on Preliminary Economic Assessment Tierra Amarilla, For personal use only Atacama Region, Chile: https://www.tiernangold.com/project/volcan-gold-pr
Slide 24: Important Information - Peer Group
Important Information - Peer Group TABLE 1 - PEER GROUP MINERAL RESOURCE COMPARISON DATA Measured Indicated Inferred Total # Company Ticker Project Country Stage Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Mt g/t Au gt/Ag Moz Au Moz Ag Moz Au Eq* For per
Slide 25: Important Information - Peer Group
Important Information - Peer Group TABLE 2 - PEER GROUP AISC DATA AND SOURCE INFORMATION AISC Source For personal use only Company Ticker Project Country Stage Currency ASIC Date Title & Source Growth analogue - Slide 6 - AISC Reference Saturn Metals STN (ASX) Apollo Hill Aus. Feasibility A$ 1,857 1
Slide 26: Important information - Peer Group
Important information - Peer Group FLAGSHIP'S CURRENT GOLD PEER GROUP - SLIDE 5 GROWTH ANALOGUE - SLIDE 6 1 - Benz Mining (ASX-BNZ): Key Projects: Glenburgh & Eastmain - Mineral Resource Effective as at 24/05/2023 and 06/11/2024, source document 26 - Saturn Metals (ASX-STN): Key Projects: Apollo Hil
Slide 27: Important information: Relevant ASX releases
Important information RELEVANT ASX RELEASES 29 Jun 2021: Reung Kiet Drilling Update 14 Jul 2023: Bang I Tum Lithium Prospect Drill Results are Delivering Readers are advised to refer to the following ASX releases for details and other 16 Aug 2021: Reung Kiet Drilling Update 18 Jul 2023: RK Lithium C
Slide 28: Metals that Matter.
Metals that Matter. For personal use only ASX: flagshipminerals.com Copyright 2025 Flagship Minerals Limited. All Rights Reserved.
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