Ballard Mining Limited · ASX:BM1
Ballard Mining — Bell Potter Unearthed Conference 2026
14 slides from Ballard Mining's conference presentation, Feb 9, 2026
Slide 1: Resource Growth and Seamless Transition to FID
For personal use only Resource Growth and Seamless Transition to FID Bell Potter Unearthed Conference 9 th F e b r u a r y 2 0 2 6 ballardmining.com.au
Slide 2: Disclaimer
DISCLAIMER The following notices and disclaimers apply to this Presentation ("Presentation") and you are therefore advised to NOT FINANCIAL PRODUCT ADVICE read this carefully before reading or making any other use of this Presentation or any information contained in this Presentation. This Presentat
Slide 3: Disclaimer
DISCLAIMER NO LIABILITY MINERAL RESOURCE ESTIMATE (MRE) The information contained in this Presentation has been prepared in good faith by Ballard. However, no guarantee, Information in this Presentation that relates to exploration results, the data and geological interpretation used as the represent
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Fully Permitted, funded to FID, targeting standalone scale 1. Corporate Summary 4. Baldock Fully Permitted For personal use only • Pro Forma Cash $85M at 31 December 2025 • Open cut and underground mining approved • Centrally located in the WA Eastern Goldfields • 2.0 Mtpa Proc
Slide 5: Corporate Summary
CORPORATE SUMMARY January $61M Placement: De-risked Balance Sheet and Future Proofed Register Corporate Structure Board & Key Management Personnel (previous roles) For personal use only Shares on Issue 454 Million Chair Simon Lill (De Grey) Performance Rights & Options Managing Director Paul Brennan
Slide 6: Optionality - Has to beat standalone development
OPTIONALITY - Has to beat standalone development $50M Exploration Budget for CY2026, 220,000m drill program planned Vault Minerals (ASX:VAU) $30M1 Exploration Budget For personal use only Genesis Minerals (ASX: GMD) $40-$50M2 Exploration Budget Aurenne Group (Private) 1.8 Mtpa Plant Ora Banda Mining
Slide 7: Fully Permitted
FULLY PERMITTED. Fundamental differentiator from other gold developers • Granted Mining Leases For personal use only • Approved Mining Proposal and Mine Closure Plan for Open Pit and Underground Mining at Baldock • Works Approval granted for 2.0 Mtpa Process Plant and TSF • Approved Native Vegetatio
Slide 8: Drill and Build
DRILL AND BUILD CY2026 Plan: Maiden Baldock Ore Reserve + add scale for production & mine life increase FY26 FY27 Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q For personal use only Baldock Development Baldock Ore Reserve due mid-year BALDOCK Phase 1 INFILL DRILLING (completed Dec’25) • Targeting Maiden Ore R
Slide 9: Regional Prospects
53 REGIONAL PROSPECTS Swallow the Elephant one bite at a time • Mt Ida considered analogous to the +10Moz Agnew gold camp (~150km north) by renowned Structural Geologist Dr Sarah Jones For personal use only • Orogenic orebodies typically “plumb deep” o Agnew 1.4km deep1 mine. ~150km north o Ora Band
Slide 10: Leverage off De-risked & Fully Permitted Baldock
LEVERAGE OFF DE-RISKED & FULLY PERMITTED BALDOCK 86,000m Infill drilling program to 350m depth completed Dec 2025 For personal use only 1. Refer to the Ballard IPO Prospectus lodged with ASIC and dated 30 May 2025 (as amended by the Supplementary Prospectus lodged with ASIC and dated 17 June 2025) a
Slide 11: Leverage off De-risked & Fully Permitted Baldock
LEVERAGE OFF DE-RISKED & FULLY PERMITTED BALDOCK Four drill rigs currently operating at Baldock: 2 x RC (Pre-collars) + 2 x Diamond For personal use only 11 ballardmining.com.au
Slide 12: Investment Highlights
For personal use only I N V E ST M E N T H I G H L I G H TS LOCATION → Heart of the WA Eastern Goldfields with +15Mtpa Processing Capacity and deep orebodies proximal CAMP SCALE EXPLORATION POTENTIAL → CY2026 drilling focused on Resource Growth TARGETING STANDALONE SCALE → Initial Baldock Ore Reserv
Slide 13: Appendix A Mineral Resource Estimate
For personal use only Appendix A Mineral Resource Estimate 13 ballardmining.com.au
Slide 14: Mineral Resource Estimate - April 2025
A MINERAL RESOURCE ESTIMATE – APRIL 20251 Indicated Inferred Total For personal use only Cut off Deposit Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000s) g/t Au (000s) (000s) g/t Au (000s) (000s) g/t Au (000s) Baldock 2,600 4.5 365 1,570 3.6 200 4,120 4.2 563 Kestrel - - - 940 1.6
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