Strickland Metals Ltd · ASX:STK
Strickland Metals — Investor Presentation (February 2026)
47 slides from Strickland Metals's investor presentation, Feb 3, 2026
Slide 1: Growing Rogozna Into A Tier One Gold Project
For personal use only Growing Rogozna Into A Tier One Gold Project Equity Raising Presentation February 2026 ASX Code: STK Not for release to US wire services or distribution in the United States
Slide 2: Disclaimer
Disclaimer Disclaimer You are advised to read the following carefully before making any use of the information contained in this presentation (Presentation). This Presentation is dated 3 February 2026 and has been prepared by Strickland Metals Limited (ASX ticker STK) (Strickland or the Company) in
Slide 3: Disclaimer cont.
Disclaimer cont. Investment risk There are a number of risks specific to the Company and of a general nature which may affect the future operating and financial performance of the Company and the value of an investment in the Company, including and not limited to the Company's capital requirements,
Slide 4: Disclaimer cont. – Joint Lead Manager Disclaimer
Disclaimer cont. Joint Lead Manager Disclaimer Macquarie Capital (Australia) Limited and Jett Capital Advisors LLC are acting as joint lead managers (Joint Lead Managers) to the Placement. The Placement is not underwritten and therefore there is no guarantee how much will be raised or how many New S
Slide 5: Strickland Key Highlights
For personal use only Strickland Key Highlights 5
Slide 6: Strickland Metals – A Rare Opportunity
Strickland Metals – A Rare Opportunity Significant scale: 100%-owned 8.6Moz AuEq1 Resource with potential to unlock additional Resource through For personal use only significant drilling programmes - 50,000m drilling programme completed in CY25 and a further 70,000m in CY26. Favourable benchmarking:
Slide 7: Corporate Overview
Corporate Overview Board Capital Structure – Prior to Equity Raising (as of 3 Feb 2026 unless otherwise stated) For personal use only Anthony McClure Non-Executive Chairman Shares on issue 2,288,059,797 Performance rights (20c, 30c, 50c)1 71,900,000 Paul L’Herpiniere Managing Director Options (13.5c
Slide 8: Equity Raising Overview
For personal use only Equity Raising Overview 8
Slide 9: Equity Raising Overview
Equity Raising Overview • Institutional placement (“Placement”) of new fully paid ordinary shares to raise ~A$55 million For personal use only • 343.2 million shares to be issued under the Placement, representing approximately 15% of issued share capital • Shares issued under the Placement to instit
Slide 10: Sources and Uses
Sources and Uses Exploration at Rogozna – A$36m Sources of Funds1 A$m For personal use only • Delivery of an additional 70,000m drill programme in CY26 with the aim of supporting mining studies and delivering updated Resource estimates in CY26 for Institutional Placement ~55 Shanac, Gradina and Copp
Slide 11: Equity Raising Timetable
Equity Raising Timetable Event Date For personal use only Trading halt 4:30pm Tuesday, 3 February 2026 Launch of Offer and Investor Presentation 4:30pm Tuesday, 3 February 2026 Placement bookbuild 4:30-9:30pm Tuesday, 3 February 2026 Announcement of outcome of Placement Wednesday, 4 February 2026 Tr
Slide 12: Rogozna Overview
For personal use only Rogozna Overview 12
Slide 13: Rogozna – In the Land of Giants
Rogozna – In the Land of Giants Highly prospective geology For personal use only Western Tethyan Belt with multiple giant porphyry-related deposits. Major miners active in-country Zijin, Rio Tinto, BHP and Dundee Precious Metals. Mining in Serbia 2.7% of GDP, strategy to increase contribution over t
Slide 14: Rogozna Overview
Rogozna Overview A massive magmatic mineral system covered by ~184 km2 of tenure. For personal use only Four skarn-hosted gold + base metal deposits and extensive exploration pipeline with >20 targets defined by >160km of drilling. 211Mt @ 1.3g/t AuEq for 8.6Moz AuEq Inferred Resources1 for the four
Slide 15: Gradina Deposit – 1.2Moz High-Grade Gold System
Gradina Deposit – 1.2Moz High-Grade Gold System 12Mt @ 3.0g/t Au for 1.20Moz Au JORC 2012 Inferred Resources1 For personal use only • The highest grade, most gold-dominant deposit at Rogozna. • Resources constrained by Long Hole Open Stoping UG mining shapes @ $2,500/oz gold price, >1.5g/t Au cut-of
Slide 16: Gradina Deposit – 1.2Moz High-Grade Gold System
Gradina Deposit – 1.2Moz High-Grade Gold System 12Mt @ 3.0g/t Au for 1.20Moz Au JORC 2012 Inferred Resources1 For personal use only • The highest grade, most gold-dominant deposit at Rogozna. • Resources constrained by Long Hole Open Stoping UG mining shapes @ $2,500/oz gold price, >1.5g/t Au cut-of
Slide 17: Shanac Deposit – 5.3Moz AuEq and Growing
Shanac Deposit – 5.3Moz AuEq and Growing 150Mt @ 1.1g/t AuEq for 5.30Moz AuEq JORC 2012 Inferred Resources1 For personal use only • Includes 32Mt @ 1.8g/t AuEq for 1.85Moz AuEq (>1.2g/t AuEq cut-off grade). • Resources constrained by Sub Level Cave UG mining shapes @ $US 2,250/oz gold price, >0.6g/t
Slide 18: Red Creek – New Discovery 1km from 5.3Moz Shanac Deposit
Red Creek – New Discovery 1km from 5.3Moz Shanac Deposit High-grade gold and base metals discovery For personal use only with significant upside potential. Discovery hole (ZRSD25233) significant intercepts1: • 4.0m @ 4.0g/t AuEq2 from 44.0m; and • 53.0m @ 2.3g/t AuEq2 from 514.4m, incl. 524.5 to 526
Slide 19: Red Creek – Upside Potential
Red Creek – Upside Potential • A very large search space exists at Red Creek – with limited drilling for ~1.5km along strike to the SE, towards Copper Canyon and ~1km of open space laterally to the east towards Shanac. For personal use only • Follow-up drilling to be carried out in 2026. Red Creek t
Slide 20: Medenovac Deposit – Structurally Controlled High-Grade Core
Medenovac Deposit – Structurally Controlled High-Grade Core 21Mt @ 1.9g/t AuEq for 1.28Moz AuEq JORC 2012 Inferred Resources1 . For personal use only • 6,800 AuEq OPVM over 150m vertical extent. • Resources constrained by Sub Level Cave UG mining shapes @ $2,250/oz, >1.0g/t AuEq cut off grade. • Min
Slide 21: Kotlovi – New Discovery with Growing Mineralisation Footprint
Kotlovi – New Discovery with Growing Mineralisation Footprint Significant new discovery with scale potential just 350m west of Medenovac. For personal use only • 277.3m @ 1.3g/t AuEq from 337.4m (ZRSD25189)1, incl. • 163.0m @ 1.4g/t Au from 337.4m, incl. • 33.5m @ 2.9g/t Au from 339.4m, and • 2.0m @
Slide 22: Copper Canyon Deposit – Outcropping Copper-Gold
Copper Canyon Deposit – Outcropping Copper-Gold 28Mt @ 0.9g/t AuEq for 0.81Moz Au Eq JORC 2012 Inferred Resources1 For personal use only • Resources constrained by open-pit shell @ US$2,000/oz, 0.4g/t AuEq cut-off, 2.2:1 strip ratio. • Upper zone of Cu-Au mineralisation up to 150m thick, 0.5g/t Au a
Slide 23: Exploration Upside – An Extensive Portfolio of Targets
Exploration Upside – An Extensive Portfolio of Targets Skarn systems the scale of Rogozna often For personal use only have a mineralised porphyry in proximity. Porphyry-related alteration and mineralisation confirmed at Jezerska Reka1: • 493.0m @ 0.1g/t Au from 223.6m (ZRJD24002) Mineralisation-rela
Slide 24: Project Development
For personal use only Project Development 24
Slide 25: Key Deliverables for 2026
Key Deliverables for 2026 70,000m Resource and Discovery Drilling at Rogozna For personal use only Dec 2025 Feb 2026 1.2Moz Au Red Creek Maiden Exploration Gradina MRE Q2 2026 Q2 2026 Q2 2026 Q2 2026 Q4 2026 Q1 2026 Q1 2026 Shanac PFS Drilling Resource Internal Discovery Porphyry Resource MRE Start
Slide 26: Project Development Plan
Project Development Plan Metallurgical testwork: Additional metallurgical testwork on Gradina will focus on improving For personal use only concentrate grades and gaining a detailed understanding of the likely life of mine combined gold-pyrite concentrate specifications, which will be used for marke
Slide 27: Key Milestones for CY26 and CY27
Key Milestones for CY26 and CY27 For personal use only Workstream Q1 CY2026 Q2 CY2026 Q3 CY2026 Q4 CY2026 H1 CY2027 Updated Shanac Resource Updated Copper Canyon Resource Updated Gradina Resource Internal study work Pre-Feasibility Study 27 This timetable is indicative only and subject to change.
Slide 28: Sustainability
Sustainability Zlatna Reka Resources - Strickland Metals’ 100%-owned Serbian subsidiary For personal use only 58 permanent employees = >100% increase over 12 months; • 60% from local communities. • 31% Female = >50% increase over 12 months. • 20% of workforce focused on community, environment and cu
Slide 29: Strickland Metals - Primed for Growth
Strickland Metals - Primed for Growth Significant Scale 8.6Moz AuEq1 Rogozna For personal use only Gold and Base Metals Project in Serbia. Clear Focus and exceptional leverage to further discoveries, resource growth and the strong gold price environment. 70,000m of diamond drilling in 2026 represent
Slide 30: Mineral Resource & Supporting Information
For personal use only Mineral Resource & Supporting Information 30
Slide 31: Appendix 1: Rogozna Inferred Mineral Resource Estimates
Appendix 1: Rogozna Inferred Mineral Resource Estimates Tonnes AuEq Au Cu Ag Pb Zn AuEq Au Cu Ag Pb Zn Prospect (Mt) (g/t) (g/t) (%) (g/t) (%) (%) (Moz) (Moz) (kt) (Moz) (kt) (kt) For personal use only Gradina 12 3.0 3.0 - - - - 1.2 1.2 - - - - (December 2025)A Medenovac 21 1.9 0.77 0.27 6.3 0.11 1.
Slide 32: Appendix 2: Junior Listed ASX Gold Project Summary
Appendix 2: Junior Listed ASX Gold Project Summary Reported JORC 2012 Resource Gold Grade Copper Lead Grade Zinc Grade Silver Grade AuEq Grade Contained For personal use only Project Company Exchange Development Stage Tonnes (Mt) Source (g/t) Grade (%) (%) (%) (g/t) (g/t) AuEq (Moz) Estelle Nova Min
Slide 33: Appendix 3: ASX Gold Project Resources
Appendix 3: ASX Gold Project Resources Measured Indicated Inferred Total Gold Grade Contained Gold Grade Contained Gold Grade Contained Gold Grade Contained Project Company Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) For personal use only (g/t) Gold (Moz) (g/t) Gold (Moz) (g/t) Gold (Moz) (g/t)
Slide 34: Appendix 4: Junior Listed TSX Gold Project Summary
Appendix 4: Junior Listed TSX Gold Project Summary Reported Mineral Resource Copper Lead Zinc Contained Gold Silver Grade AuEq Grade For personal use only Project Company Exchange Development Stage Tonnes (Mt) Grade Grade Grade AuEq Source Grade (g/t) (g/t) (g/t) (%) (%) (%) (Moz) Titiribi GoldMinin
Slide 35: Appendix 5: TSX Gold Project Resources
Appendix 5: TSX Gold Project Resources Measured Indicated Inferred Total Gold Grade Contained Gold Grade Contained Gold Grade Contained Gold Grade Contained For personal use only Project Company Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) Tonnes (Mt) (g/t) Gold (Moz) (g/t) Gold (Moz) (g/t) Gold (Moz) (g/t)
Slide 36: Competent Persons Statement & Gold Equivalent Calculations
Competent Persons Statement & Gold Equivalent Calculations Gold Equivalent Calculations (Rogozna Project) Gold Equivalent calculations for exploration results within this presentation are based on the following metal prices: For personal use only For Gradina estimates include Au equivalent values fo
Slide 37: Key Risks
For personal use only Key Risks 37
Slide 38: Key Risks
Key Risks Strickland’s financial performance depends on the successful exploration and/or acquisition of resources or reserves and commercial production therefrom. There is no guarantee that further significant mineralisation will be identified and even if identified, that such mineralisation can be
Slide 39: Key Risks cont.
Key Risks cont. The Company has no operating revenue and is unlikely to generate any operating revenue unless and until its projects are successfully developed and production commences. Mineral exploration companies do not generally generate cash revenue. Accordingly, the Company may be required to
Slide 40: Key Risks cont.
Key Risks cont. The Company’s exploration and development activities are subject to extensive laws and regulations relating to numerous matters including resource licence consent, conditions including environmental compliance and rehabilitation, taxation, employee relations, health and worker safety
Slide 41: Key Risks cont.
Key Risks cont. The Company may pursue and assess other new business opportunities in the resource sector. These new business opportunities may take the form of direct project acquisitions, investments, joint ventures, farm-ins, acquisition of tenements and permits, and/or direct equity participatio
Slide 42: Key Risks cont.
Key Risks cont. Strickland will endeavour to maintain insurance within ranges of coverage in accordance with industry practice. However, in certain circumstances Strickland's insurance may not be of a nature or level to provide adequate cover. For personal use only The occurrence of an event that is
Slide 43: International Offer Restrictions
For personal use only International Offer Restrictions 43
Slide 44: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any c
Slide 45: International Offer Restrictions cont.
International Offer Restrictions cont. This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in
Slide 46: International Offer Restrictions cont.
International Offer Restrictions cont. This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in
Slide 47: Paul L'Herpiniere, Managing Director
For personal use only Paul L’Herpiniere, Managing Director info@stricklandmetals.com.au +61 8 6317 9875
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