Tolu Minerals Limited · ASX:TOK
Tolu Minerals — Mining Forum Americas 2025
26 slides from Tolu Minerals's conference presentation, Sep 16, 2025
Slide 1: Presentation at the Mining Forum Americas
Tolu Minerals Limited PNG CR Company Camp, Baruni Road, National Capital District, Papua New Guinea Company Registration No.: 1-125888 Unit 3, 180 Main Street, Kangaroo Point, QLD 4169, Australia www.toluminerals.com ARBN: 657 300 359 ASX: TOK, OTCQX: TOLUF ASX, OTCQX Announcement 16 September 2025
Slide 2: Tolukuma Project – the next chapter
For personal use only ASX:TOK, OTCQX:TOLUF ARBN 657 300 359 Tolukuma Project – the next chapter Denver Gold Presentation Chris Muller 15 Sep 2025
Slide 3: Tolu Minerals Overview
Tolu Minerals Overview For personal use only ● World-class grade: 1.5Moz resource; 1Moz already mined @ 15g/t (up to 85koz per year) ● Clear growth target: Near mine mineral resource expansion expected by June 30 next year ● High-impact exploration pipeline: 15,000m drilling to be completed by June
Slide 4: Tolu holdings – c. 1,960km2 Exploration Upside
Tolu holdings – c. 1,960km2 Exploration Upside For personal use only Project pipeline total: 1,964 km2 ⮚ Tolukuma gold mine and adjacent targets ⮚ Tolukuma Structure ⮚ Mt Penck ⮚ Ipi River Multiple mineralisation styles including: ⮚ High grade, low sulphidation Au/Ag ⮚ High sulphidation Au/Cu ⮚ Porp
Slide 5: Tolukuma Gold Mine
Tolukuma Gold Mine Fully self-contained mine with 20 years’ high-grade gold & silver operating history – circa 1 Moz produced at 15g/t Au recovered Significant Mineral Resource Estimate in place For personal use only Huge exploration upside both on and adjacent to the mine and also on the broader To
Slide 6: Tolukuma Access Road - from remote to reachable
Tolukuma Access Road - from remote to reachable Road Access Achieved: The new For personal use only road connecting Port Moresby to the Tolukuma Gold Mine (TGM) has now reached the mine site, creating a direct supply route Significant Cost Efficiencies: Road access is expected to reduce reliance on
Slide 7: Tolukuma Gold Mine – Access Road (cont.)
Tolukuma Gold Mine – Access Road (cont.) For personal use only Fuel transportation on the new Access Road (this service vehicle was designed specifically for this duty by our logistics contractor TWL Group) 6
Slide 8: Tolukuma Mineral Resource Estimate
Tolukuma Mineral Resource Estimate AMC reported an Inferred Mineral Resource as of 18 August 2022 1 ⮚ 1.6 M tonnes @ 10 g/t Au and 38 g/t Ag For personal use only ⮚ Contained metal 503 Koz Au and 1.9 Moz Ag ⮚ Cut – off grade 3 g/t Domain Tonnes (t) Au (g/t) Ag (g/t) Au (oz) Ag (oz) Zine 488,000 9 43
Slide 9: Tolukuma Mineral Resource Opportunity
Tolukuma Mineral Resource Opportunity Vein lodes in mine environment: For personal use only ⮚ Zine ⮚ Mystery ⮚ Tolukuma ⮚ Fundoot ⮚ Gulbadi ⮚ Gufinis ⮚ 120 Vein Modelled lodes populating the existing inferred resource block model (viewed obliquely from above, towards the NNE) 8
Slide 10: Near Tolukuma Mine: Gold Prospects
Near Tolukuma Mine: Gold Prospects Based on the MRE tonnes and grades, extension of the Tolukuma vein system 2km to the SSE, grades of the Miliahamba prospect drilling, grades from drilling at Taula, Sisimonda and Kimono, grades and tonnage of the Saki Inferred Resource and trench sampling grades fr
Slide 11: Tolukuma Gold Mine – Airborne MT Survey
Tolukuma Gold Mine – Airborne MT Survey ⮚ Airborne MT survey completed over the Tolukuma, Ipi River and Mt Penck areas, including a higher resolution survey over the ML area where cutting edge Lineament Analysis modelling is complete For personal use only ⮚ Modelled magnetics demonstrates continuing
Slide 12: Mineral Exploration & Resource Growth Strategy
Mineral Exploration & Resource Growth Strategy Exploration Program (Discovery & Target Definition) Target generation driven data by: For personal use only Budget: AUD $14.3 million Historical drilling Historical geochemical Schedule: July 1, 2025 – October 31, 2026 Historical geophysics, magnetic, 3
Slide 13: Mineral Exploration & Resource Growth Strategy (cont’d)
Mineral Exploration & Resource Growth Strategy (cont’d) Resource Growth (Drilling & Data Acquisition) For personal use only Surface Drilling Focus Areas ⮚ Kunda, Kimono, 120 and other obvious targets Underground Drilling Focus Areas ⮚ Fundoot, Zine Vein, 120 Vein, etc… Infill & Step-Out Drilling ⮚ D
Slide 14: Exploration Strategy: Tolukuma Mineralisation Corridor
Exploration Strategy: Tolukuma Mineralisation Corridor Initial focus – multiple For personal use only targets within the Tolukuma Mineralisation Corridor including (from North to South): ⮚ Mt Sen ⮚ Tumbu ⮚ Kimono ⮚ Dudu ⮚ Quinom ⮚ Miliahamba ⮚ Kunda ⮚ Taula ⮚ Sisimonda ⮚ Duma-Dilava The Tolu
Slide 15: Exploration Plan – ML104 and surrounds
Exploration Plan – ML104 and surrounds Surface Geochemistry For personal use only ⮚ Substantial ridge and spur (25m spacing), base of slope (25m spacing) and stream float and stream Surface sediment sampling planned for entire ML104 and geochemistry surrounds [i.e., the entire Tolukuma Consolidated
Slide 16: Exploration Plan - Regional
Exploration Plan - Regional Mobile MT targets: For personal use only ⮚ Numerous signatures akin to Tolukuma vein system identified. ⮚ Phase 2 surface geochemistry program (ridge and spur, base of slope and stream float sampling) planned for four main targets: ⮚ Karame Epithermal ⮚ Idave Epithermal ⮚
Slide 17: Additional veins, including deeper seated feeders
Additional veins, including deeper seated feeders Mobile MT lineament analysis results suggest: For personal use only ⮚ deeper seated conductive, possible ‘high-sulphide’ bodies that may correspond to base-metal and gold-rich lodes, below Fundoot and Gulbadi. ⮚ future studies should be carried out t
Slide 18: Mt Penck update
Mt Penck update For personal use only Airborne Mobile MT lineament analysis results indicate: ⮚ a necessary revision of the prospectivity ranking, elevating Mt Penck to Priority 1 target. ⮚ eight material porphyry copper-gold targets have been identified as a result of the new MT imaging. ⮚ Tolu has
Slide 19: Ipi River update
Ipi River update For personal use only Airborne Mobile MT results imply: ⮚ preliminary interpretation of Airborne MT imagery indicates five previously unknown copper-gold targets that require further exploration and drill testing. Airborne Magnetics ⮚ the newly advanced Airborne MT survey provides I
Slide 20: Exploration Pipeline of Targets
Exploration Pipeline of Targets For personal use only Targets Strategic sessions ranked targets according to all available criteria Veins proximal to ML104 identified as highest priority targets A number of porphyries recognised in the vicinity 19
Slide 21: Summary
Summary For personal use only Highlights ● Tolukuma is a high-grade gold project ● Major milestone of access road is unlocked; a game changer for Tolu ● Significant foundational work has taken place, for resource expansion ● Expect significant news flow as large drilling campaign commences in Q4 120
Slide 22: Contacts
Contacts For personal use only Chris Muller Executive Group Geologist +61 400 479 848 +675 7666 7742 chris.muller@toluminerals.com Vern Wills Strategic Corporate Advisor +61 418 912 664 vern.wills@enhance.net.au 21
Slide 23: Disclaimer and Important Information
Disclaimer and Important Information Important notice These presentation slides (the “Slides”) have been issued by Tolu Minerals Limited (the “Company” or “Tolu”) in relation to an update on activities by the Company. These Slides do not comprise an admission document, listing particulars or a prosp
Slide 24: Disclaimer and Important Information
Disclaimer and Important Information Investment risks All investments in securities are subject to known and unknown risks, including an investment in Tolu shares. Some of these risks are beyond the control of Tolu and its directors and officers, and Tolu does not guarantee any particular rate of re
Slide 25: Disclaimer and Important Information
Disclaimer and Important Information Disclaimer To the maximum extent permitted by law, the Company each of its respective related bodies corporate, shareholders and affiliates, and each of their respective officers, directors, partners, employees, representatives, affiliates, agents, consultants an
Slide 26: Disclaimer and Important Information
Disclaimer and Important Information Competent Persons Statement The information in this presentation that relates to Exploration Results, Mineral Resources and Ore Reserves were last reported by the Company in compliance with the 2012 Edition of the JORC Australasian Code for Reporting of Explorati