North Stawell Minerals, Ltd. · ASX:NSM
North Stawell Minerals — Cutting Edge Melbourne (September 2025)
35 slides from North Stawell Minerals's conference presentation, Sep 16, 2025
Slide 1: Investor Update. Cutting Edge, Melbourne.
In vestor Update. Cutting Edg e, Melb ourn e. North Stawell Gold Project Victoria, Australia September 2025 We acknowledge the traditional owners of the land on which we work, the Wotjobaluk, Jardwadjali, Wergaia and Jupagalk nations, and pay our respects to elders past and present. ASX:NSM ASX:NSM
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer Forward Looking Statement and Disclosures. This presentation is not making any offer, inducement, solicitation or invitation of any kind by communication of this presentation to the recipient and under no circumstances is it to be construed as, a prospectus or an adv
Slide 3: North Stawell Minerals Ltd Opportunity
North Stawell Minerals Ltd Opportunity North Stawell Gold Project, Victoria, Australia. Share Price Small Cap Upside Cash on hand Optics $0.03 $10.22M 87koz Au11 $2.1M2 Gold-only! (incl. 44koz Indicated ) Single project 341M shares Market Capitalisation Shallow (from 30m) ASX:NSM 1 Aug 25 Single com
Slide 4: North Stawell Minerals Ltd snapshot
North Stawell Minerals Ltd snapshot Multi million-ounce gold corridor. Extensive historic data1 Strategic position Explore for shallow, Stawell-type and Experienced team Stawell Mine has historic production of 5.3Moz 142,000m AC (2,422 holes) Strong project pipeline Mariners-type mineralisation. Boa
Slide 5: Corporate Overview
Corporate Overview A highly experienced leadership team with strong exploration and mining experience. NSM is solely focussed on gold in western Victoria. Board Why NSM? Capital Structure Single commodity – single jurisdiction project – single project. Jerry Ellis Non-Executive Chairman 30 years at
Slide 6: NSM Tenements
NSM Tenements North Stawell Minerals’ tenement portfolio includes 504km2 in the highly prospective Stawell Corridor, immediately north of the operating Stawell Gold Mine (SGM). 2 Tenement Status Number Area (km ) Initial NSM Earn-in Name holding potential Murray Basin Wildwood Granted RL007051 50 51
Slide 7: Geology
Geology NSM tenements cover 60km strike of the Stawell Corridor – a highly gold prospective geological zone. 85% of the tenements are masked by a thin blanket of unmineralised sediments (“cover”). Stawell mineralisation is the SAME event as central Victoria, but pre-gold BASALTS focus gold mineralis
Slide 8: Geophysics - Targeting through cover and at depth.
Geophysics - Targeting through cover and at depth. Working with a best-available dataset (including geo-knowledge) to test and rank Stawell-like targets under cover. Basalts in the geology focuses gold. Geophysics can find the basalts. Footprint of 4.9 Moz Au Stawell Gold Mine. COVERED COVERED OUTCR
Slide 9: The Stawell Mine - operated by Stawell Gold Mines Pty Ltd (SGM)
The Stawell Mine - operated by Stawell Gold Mines Pty Ltd (SGM) Stawell Mine (SGM) Stawell Gold Mine commenced modern NSM was spun out of SGM in 2020 Stawell Gold Mines is Stawell provides the “playbook” for NSM, with production in the 1980’s and has ~800 to focus on the strategic exploration operat
Slide 10: Project Pipeline
Project Pipeline NSM has a robust project pipeline, based on regional drill programs and geophysics, and deposit models. NSM is focused on the projects that respond best to the model (Darlington, Wildwood + 3 others). MARINERS TYPE AU STAWELL TYPE AU (SGM (3)) 60km identified and interpreted basalts
Slide 11: Stawell Gold Mine (the "Stawell-type" model)
Stawell Gold Mine (the “Stawell-type” model) The mine is cored by a buttress of basaltic rock. Gold mineralisation wraps around the basalt margin. Find more basalts == find another Stawell!? Mariners splay Wonga (see next slide) Stawell historic production1: Magdala West 2.67M oz Au (pre-1980) 2.62M
Slide 12: Drilling results targeting "Stawell-type" basalts and "Mariners-type" splays
Drilling results targeting “Stawell-type” basalts and “Mariners-type” splays 5.00m @ 1.21 g/t Au from 56.00m (ASA115) (1) 2.00m @ 2.00 g/t Au from 58.00m (ASA184) 7 basalts are demonstrated to have significant (1+ Lubeck Tip NSM 1.00m @ 5.05 g/t Au from 56.00m (NSAC0172) (2) g/t Au) gold on basalt m
Slide 13: Wildwood Mineral Resource
Wildwood Mineral Resource1 87,300 oz Au Mineral Resource from immediately below cover (10-40m depth). Shallow-tested and open in several directions. The Mineral Resource at Wildwood has benefited from re-interpretation and re-estimation and structural interpretation in June 2023 (1) . Indicated Infe
Slide 14: Wildwood – a satellite resource to Stawell?
Wildwood – a satellite resource to Stawell? Wildwood remains a strategic asset for NSM - shallow, with similar ore-styles, comparable grades and within the economic footprint (25km) of the operating mine at Stawell (SGM). A buoyant gold price impacts the pathway to production of the small resource.
Slide 15: Stawell Mine vs. Wildwood Resource and targets – same-scale comparison.
Stawell Mine vs. Wildwood Resource and targets – same-scale comparison. The geology is the same. Structure and dimensions of the host basalt are similar. The Stawell Mine has 50x gold endowment of Wildwood. Wildwood is open and shallow-tested. There is potential to expand grade and/or tonnes – best
Slide 16: Wildwood Geology
Wildwood Geology Example of Wildwood mineralisation in a “Waterloo” – a volume-restricted embayment within the host basalt. Identifying large-volume, “flank-style” mineralisation is critical to expanding the Wildwood Mineral Resource effectively. 8.54 g/t 0.16 g/t 17.41g/t 1.83 g/t 5.73 g/t 25.94 g/
Slide 17: NSD054 & NSD055 (2025) targeted Flank-type mineralisation on the east flank.
NSD054 & NSD055 (2025) targeted Flank-type mineralisation on the east flank. Only anomalous gold grades (<1g/t Au) were intersected. However, returned thick intercepts of the prospective geology with the “right” alteration were intersected in each hole. 8m 11m 19.8m WDD079 - 259.8-271.32 NSD054 218.
Slide 18: NSD054 & NSD055 targeted Flank-type mineralisation on the east flank
NSD054 & NSD055 targeted Flank-type mineralisation on the east flank However, thick intercepts of the prospective geology with the “right” alteration were intersected in each hole, potentially indicating a steeper than interpreted structure. Trinity Clontarf Wildwood, east flank. 5+ 530m g/t Auverti
Slide 19: Mariners Historic Mines (the "Mariners-type" model)
Mariners Historic Mines (the “Mariners-type” model) Occurs as splays of mineralisation off (and above) the deeper basalt. Above the Stawell Mine, the historic Mariners-type production includes 0.78-0.95Moz Au at 28-30g/t Au1. Mariners splay Mariners Magdala East Plan of Mariners (red) above Stawell
Slide 20: Darlington-Caledonia trend target
Darlington-Caledonia trend target Darlington, an NSM priority target 6 km north of Stawell, includes newly discovered basalt with potential to form Stawell-type and/or Mariners-type gold mineralisation along an 8km trend from Stawell (3.6km on NSM ground). Darlington is now interpreted as part of a
Slide 21: Darlington
Darlington 2023 drilling extended mineralisation 120m down-dip and 140m down-plunge. Important: An altered and weakly mineralised basalt intersected at depth == Stawell-type system at depth? 0.78 g/t Production records from the Darlington long section – looking east. 7.0 g/t Darlington Mine includes
Slide 22: Darlington target – Stawell+Mariners-type gold potential
Darlington target – Stawell+Mariners-type gold potential NSD057 stepped out 200m south to test the intersection of Darlington trend and the basalt. An encouraging 16m zone of anomalous (>1 g/t Au) was returned on a faulted basalt margin. Visible gold-bearing quartz veining encountered higher in the
Slide 23: Darlington Target – Mariners-type or Mariners-repeat? (2025)
Darlington Target – Mariners-type or Mariners-repeat? (2025) Darlington, 6 km north of Stawell, includes visible gold (VG)-bearing brecciated quartz-sulphide vein5 and basalts at depth (NSD053(3) and NSD057(5)) – interpreted as a mineralised ‘splay’ off the basalt at depth. NSD057 – 2.3m at 29.2 g/t
Slide 24: Darlington West – NSD058
Darlington West – NSD058(1) NSD058 is the first hole testing a “blind” target based on geophysics and numerical modelling data. The hole intersected mineralisation on the upper and lower margins of a new, intersected basalt – an exciting result for a possible repeat of the Stawell-type mineralisatio
Slide 25: Numerical modelling targets – regional opportunities
Numerical modelling targets – regional opportunities NSD058 succeeded in intersecting blind mineralisation associated with a previously undrilled basalt, based only on modelling. Other regional targets have similar “vectors” that are encouraging as possible future drill targets and exploration focus
Slide 26: Darlington – Caledonia trend
Darlington – Caledonia trend Encouraging results in most recent drilling do not occur in isolation. Multiple high-grade drill intercepts and high-grade historic workings occur over 3.6km trend. Rock textures (historic mine dumps), geochemistry and new observations further highlight gold potential. 1
Slide 27: Programs - current.
Programs - current. Follow-up on NSD057 and NSD058 are current priorities for NSM exploration. Surface chemistry/geophysics to understand strike extents of the system. Potential to migrate learnings/techniques to Caledonia (2 km nth). NSD057 NSD058 Darlington Mine Darlington Darlington West fault Ab
Slide 28: Programs - upcoming
Programs - upcoming IP test-line across Darlington target to understand 3D mineralisation trend? AC follow up on soils results – in the weathered zone (80-90m depth) DD follow up on AC results IP SURVEY: A proposed (Induced Polarisation geophysics survey (“IP”) has been complicated by access. Howeve
Slide 29: Proposed Work Program 2025
Proposed Work Program 2025 Follow-up on the high-grade shallow target at Darlington. Expand the Darlington targets that “fit” a Stawell-type or Mariners-type mineralisation model. Review Wildwood as a potential satellite deposit. Prepare secondary targets for renewed work. Proposed workflows. Activi
Slide 30: Summary
Summary Darlington – and the trend towards Caledonia - with potential for a high-grade (and transformative?) gold mineralisation is a priority for current and up-coming programs. Darlington West also presents compelling exploration targets. Current and up-coming programs are focused on evaluation of
Slide 31: North Stawell Minerals
North Stawell Minerals ASX:NSM This announcement has been approved for release by the board of Directors of North Stawell Minerals Ltd. For Media Enquiries For Investor Enquiries peter@nwrcommunications.com.au info@northstawellminerals.com About North Stawell Minerals Limited: North Stawell Minerals
Slide 32: APPENDIX 1
APPENDIX 1 NSM releases to ASX relating to this presentation. Ref # Date Report title Doc size 1 22-Sep-20 Prospectus Link 20276KB 3 29-Oct-20 Quarterly Activities Report & Appendix 5B Link 2904KB 5 20-Jan-21 NSM Drilling Update Link 2532KB 7 22-Feb-21 Shallow, High Grade Gold discovered at Wildwood
Slide 33: APPENDIX 1 NSM releases to ASX relating to this presentation.
APPENDIX 1 NSM releases to ASX relating to this presentation. Ref # Date Report title Doc size 59 29-Aug-23 Australian Gold Conference 2023 Presentation Link 4360KB 66 31-Oct-23 Quarterly Activities Report Link 3697KB 67 15-Nov-23 Investor Presentation - Noosa Mining Conference Link 486KB 83 21-Feb-
Slide 34: APPENDIX 2
APPENDIX 2 References – Data informing historic mines and historic production figures at Mariners, Stawell. 1. https://stockhead.com.au/resources/nsms-challenger-prospect-mirrors-the-5moz-stawell-gold-mine/ 2. https://northstawellminerals.com/our-projects/ 3. https://wcsecure.weblink.com.au/clients/
Slide 35: APPENDIX 3: Project Pipeline – Lubeck Tip
APPENDIX 3: Project Pipeline – Lubeck Tip The Lubeck Tip target is an NSM discovery. 30km north of Stawell, the target has responded well to the exploration model, returning shallow, significant gold grades (>1g/t Au) in first drill programs. Lubeck Tip is a “next cab off the rank” project in NSM’s
North Stawell Minerals — Cutting Edge Melbourne (September 2025) on 6ix