Slide 1: Youanmi Pre-Feasibility Study
Youanmi Pre-Feasibility Study July 2024 ASX: RXL
Slide 2: Cautionary Statement
Cautionary Statement The Pre-Feasibility Study (“PFS”) referred to in this presentation has been undertaken to evaluate the potential development of the Youanmi Gold Project (“Project”) near Mt Magnet, approximately 480 kilometres northeast of Perth, Western Australia. Rox Resources Limited (“Rox Re
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer Forward-Looking Statements Important - you must read the following before continuing Certain statements in this presentation relate to the future, including forward-looking statements relating to the Company and its This presentation is dated 24 July 2024 and has
Slide 4: Important Information and Disclaimer - Competent Person Statements
Important Information and Disclaimer Competent Person Statements Exploration Targets The information in this presentation that relates to Exploration Targets was reported by Rox in accordance with the JORC Code (2012 edition) in the announcement “MRE Update confirms Youanmi as Significant High-Grade
Slide 5: Youanmi PFS Highlights
Youanmi PFS Highlights High-grade, high-margin underground gold project with compelling economics and potential for significant further upside High-Grade • High-Grade Maiden Probable Ore Reserve estimate of Maiden Ore 3.8Mt @ 4.4 g/t Au for 546koz Reserve • Total Mineral Resource estimate of 16.2Mt
Slide 6: Project Location
Project Location • Youanmi Gold Project located approximately 480km northeast of Perth and Mt Fisher – Mt Eureka Gold Project approximately 140km southeast of Wiluna • Located in the central part of the Youanmi Greenstone Belt, which is situated in the Southern Cross Province of the Archaean Yilgarn
Slide 7: High-Grade Mineral Resource Estimate
High-Grade Mineral Resource Estimate1 Cut-off Indicated Inferred Total Category Grade Tonnes Au Grade Au Metal Tonnes Au Grade Au Metal Tonnes Au Grade Au Metal (g/t) (Mt) (g/t) (Koz) (Mt) (g/t) (Koz) (Mt) (g/t) (Koz) Open Pit 0.5 5.1 2.8 458 1.4 2.4 108 6.5 2.7 565 Underground 2.5 5.6 6.1 1,103 4.1
Slide 8: High-Grade Ore Reserve
High-Grade Ore Reserve1 Ore Reserve Tonnes (Mt) Grade (g/t Au) Contained Ounces (koz) Proved Underground Ore Reserve 0.0 0.0 0.0 Probable Underground Ore Reserve 3.83 4.4 546 Total Underground Ore Reserve 3.83 4.4 546 Note: ASX: RXL 8 1. Refer to ASX announcement entitled ‘Youanmi Gold Project – Pos
Slide 9: Key Study Outcomes
Key Study Outcomes Key Physicals Targets and Capital Costs Key Financial Forecasts and Assumptions Assumptions Life Of Mine1 years 7.7 Pre-production Capital $m 245 Gold Price $/oz 3,100 Plant Throughput ktpa 750 Sustaining Capital $m 135 Discount Rate % 8 Mine Production Total $m 380 Project Valuat
Slide 10: Low All-In Sustaining Cost
Low All-In Sustaining Cost LOM C1 Cash Cost and AISC Breakdown1 AISC Peer Comparison2 ($/oz) ($/oz) Horizon Gold Barton Gold Black Cat (Paulsens) Saturn Metals Board and Management Meeka Metals Rox Resources $1,676 Astral Resources Ausgold 0 500 1,000 1,500 2,000 Note: 1. C1 cash cost and AISC are c
Slide 11: Outstanding Project EBITDA
Outstanding Project EBITDA Cumulative EBITDA and Gold Production Target Cumulative EBITDA ($m) Cumulative Gold Produced (koz) $1,400 1,000 Cumulative EBITDA Cumulative Gold Production Target $1,219 $1,200 $1,061 800 $1,000 $850 600 $800 Board and Management $661 $600 400 $468 $400 $313 200 $188 $200
Slide 12: Capital Requirement
Capital Requirement Attractive Value Proposition Pre-Production Capital Costs A$m Base Case $3,100/oz Site Infrastructure 22 $486m Processing Facilities 150 2.0x $322m Tailings Storage Facility 4 $263m $245m value Gap Underground Development 39 5.5x $59m Commissioning costs – net 15 Youanmi Gold Pro
Slide 13: Sensitivity Analysis
Sensitivity Analysis Project NPV (unleveraged and post-tax) Sensitivity Analysis1 Scenario Analysis – Various Gold Price Assumptions ($m) Base Case Gold Price Gold Price (+/-10%) $209 $435 Unit $2,900 $3,100 $3,300 $3,500 $3,700 (A$/oz) NPV8 (pre-tax) $m 382 486 590 694 797 Opex (+/-10%) $266 $379 I
Slide 14: Mining Profile
Mining Profile Life of Mine Tonnes and Grade Ore Tonnes (kt) Grade (g/t Au) 900 9 800 8 700 7 600 6 Board 500and Management 5 400 4 300 3 200 2 100 1 0 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Development Tonnes Production Tonnes Grade ASX: RXL 14
Slide 15: Production Target
Production Target Life of Mine Ounces Mined and AISC Ounces Mined (koz) AISC $/oz 140 2,800 130 Indicated Inferred AISC 120 2,400 110 100 2,000 90 Board 80 and Management 1,600 70 60 1,200 50 40 800 30 20 400 10 0 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 ASX: RXL Notes: 15 •
Slide 16: Processing
Processing Simple flowsheet to produce gold doré averaging 103koz per annum Albion Process TM The Albion ProcessTM has significant advantages for sulphide gold projects: • Lower capital cost relative to other oxidation methods; • Quick, simple testwork and design process, rapid commissioning; • Low
Slide 17: Next Steps
Next Steps Resource Development • Infill drilling targeting conversion of Inferred resources to Indicated resources Near-mine Exploration • Drill near-mine exploration targets of 1.1Moz to 1.8Moz • Potential to significantly increase the scale of the Youanmi Gold Project Commence Definitive Feasibil
Slide 18: Upside and Growth Opportunities - Exploration Targets
Upside and Growth Opportunities - Exploration Targets Long-Section of Youanmi Lodes along the Granite/Greenstone contact showing the current classified resource area, and the area estimated for the Exploration Target Exploration Targets1 Target Tonnage Grade Au Ounce Au Area Range Range Range 1.0Mt
Slide 19: Up-coming Drill Program
Up-coming Drill Program • +10,000m Drill program approved for Resource Definition & Growth and Exploration Drilling • Resource Definition drilling to target inferred stopes in the current mine plan and has the potential to add additional ounces in undrilled areas of the resource • Exploration Drilli
Slide 20: Investment Highlights
Investment Highlights High-Grade • High-Grade Maiden Ore Reserve declared 546koz @4.4 g/t • Mineral Resource of 2.3Moz @4.4 g/t demonstrates the Resource high-grade nature of the Youanmi Gold Project Resource Growth • Mineral Resource open down dip and along strike • Exploration targets of 1.1m oz A
Slide 21: Thank You
Thank You Level 2, 87 Colin Street, West Perth, WA 6005 (08) 9226 0044 a dmin@roxre s ource s .com.a u www.roxre s ource s .com.a u
Slide 22: Corporate Information
Corporate Capital Structure Shareholders Information Venus Metals ASX Code RXL 15.60% Shares on Issue 407.2m 9.99% Hawke’s Rox Re s ource s Limite d (AS X: RXL) is a West Aus tra lia n Share Price (at 23/7/2024) A$0.145 Point focus e d gold e xplora tion a nd de ve lopme nt Compa ny. It is the Marke
Slide 23: Experienced Team
Experienced Team Geology and Geotechnical Hydrology and Mine Dewatering Mine Engineering Resource Estimation Hydrogeology Underground Underground Mining Metallurgical Metallurgical Mine Ventilation Infrastructure Costs Consulting Testwork Board and Management Process Site Power Non-Process Tailings
Slide 24: Appendix – Comparable Companies
Appendix 1 – Comparable Companies Companies selected are considered comparable to Rox Resources as they are Western Australian gold explorers or developers that have market capitalisation less than A$250m at 23 July 2024, and their resource data excludes overseas assets Measured Resources - 100% Ind