Horizon Gold Ltd. · ASX:HRN
Horizon Gold — Investor Presentation (July 2025)
19 slides from Horizon Gold's investor presentation, Jul 21, 2025
Slide 1: Gum Creek Gold Project Investor Presentation
Gum Creek Gold Project Investor Presentation horizongold.com.au July 2025 ASX: HRN
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER No New Information or Data This presentation contains references to exploration results and Resource estimates, all of which have been cross referenced to previous market announcements made by the Company. The Company confirms that it is not aware of any new informati
Slide 3: Executive Summary
EXECUTIVE SUMMARY High-quality gold asset in a tier-1 mining jurisdiction Large-scale, High-Grade Asset with Low Mining Recommencement Risk ▪ 44.5Mt @ 1.5g/t Au for 2.14Moz (63% indicated) across 26 deposits on granted mining leases, majority free-milling gold with > 90% recoveries ▪ Two large miner
Slide 4: Gum Creek Gold Project
GUM CREEK GOLD PROJECT Gum Creek Gold Project ▪ Largest gold resource (2.14 Moz* – 63% Indicated) in the Sandstone District, with significant exploration upside and potential consolidation opportunities ▪ Well-endowed gold region – the GCGP has historically produced more than 1.1 Moz** with last min
Slide 5: Gidgee Shear Zone
Gidgee Shear Zone Main bulk free milling ore source underpinning mine life and economics adjacent to Gidgee Mill ▪ 7km long mineralised system hosting 886koz* (60% Indicated) adjacent to the Gidgee mill ▪ Sub-parallel shears up to 60m wide; mineralisation open along strike and down plunge at all dep
Slide 6: Howards Deposit
Howards Deposit 2nd bulk tonnage free milling deposit underpinning mine life and economics ▪ 2.5km long mineralised zone hosting 267koz* (80% Indicated), 27km SE of the Gidgee mill ▪ No previous mining, gold mineralisation at surface up to 50m wide ▪ Low strip ratio underpins economics ▪ Potential t
Slide 7: Exploration Upside
Exploration Upside Resource Upside ▪ Excellent brownfields resource upside across the 80km strike of Gum Creek Gold Project ▪ Latest 13,000m RC drill program just completed with a focus on infilling and extending shallow oxide resources to be included in the feasibility study – resource update expec
Slide 8: Gidgee Shear Zone – Kingfisher Deposit
Gidgee Shear Zone – Kingfisher Deposit Permitted, High-Grade Deposit Near Mill with Proven Production History, and significant exploration potential ▪ High-Grade Historical Production: Between 1990 and 1996, the Kingfisher deposit yielded 265koz of gold from open-pit operations at an average grade o
Slide 9: Omega Exploration Potential
Omega Exploration Potential High-grade exploration potential ▪ High-Grade Production History: Omega Pit previously produced 44koz @ 5.4g/t, while the Omega Underground delivered 40koz @ 5.3g/t, demonstrating consistent high-grade mineralisation across previous mining phases ▪ Drilling planned at Ome
Slide 10: Wilsons – High Grade U/G Optionality
Wilsons – High Grade U/G Optionality Permitted, High-Grade Resource to Extend Mine Life ▪ Large, High-Grade Sulphide Resource Not Yet in Development Plan: Wilsons hosts a 391koz* resource @ 5.4g/t (93% Indicated), offering a significant inventory of high-grade gold not currently included in the Scop
Slide 11: March 2024 Scoping Study – attractive base case economics
March 2024 Scoping Study – attractive base case economics Key Economic Metrics Gold Price Sensitivities Gold Price (A$/oz) Pre-tax NPV8 A$m 548 2,500 2,700 2,900 3,100 3,300 Pre-tax IRR % 45.8 LOM EBITDA A$m 245 410 574 739 904 Life of Mine Years 10 Pre-tax NPV8 A$m 88 203 318 433 548 Gold Price A$/
Slide 12: Feasibility Study on track for completion 1H 2026
Feasibility Study on track for completion 1H 2026 Open Pit Mining of Free Milling Resources on Granted Mining Leases Targeting simple 10-year operation underpinned by two open pit mining areas, the Gidgee Shear Zone and Howards open pit ▪ Mine plan only includes 7 of the 26 resource areas (84% of th
Slide 13: Corporate Overview
CORPORATE OVERVIEW Capitalisation Summary * Shareholder Summary Unit ASX:HRN Share Price A$ 0.52 20% Shares Outstanding M 144.8 Zeta Resources Market Capitalisation A$m 73.1 5% Directors & Management Cash (30 June 2025) A$m 0.5 Other Shareholders Debt (30 June 2025) A$m 0.5 Enterprise Value A$m 73.1
Slide 14: Comparative Valuation
COMPARATIVE VALUATION HRN compares very favourably to peers on an EV/Resource basis with an attractive grade, and large resource on a 100% mining lease 140 120 Average Peer EV / Resource 100 EV/ Resource 80 60 40 20 0 AZY AAR BGD MI6 STN AUC MM8 RXL HRN Company Antipa Minerals Astral Resources Barto
Slide 15: Appendices
horizongold.com.au APPENDICES
Slide 16: Gum Creek Gold Project Location
Gum Creek Gold Project Location Gum Creek Gold Project ▪ Strategic project within the prolific Sandstone / Gum Creek gold mining district located between the gold mining townships of Meekatharra, Wiluna and Sandstone ▪ Gum Creek Gold Project has one of the largest landholdings in the district and th
Slide 17: Gum Creek Gold Project Resource
GUM CREEK GOLD PROJECT RESOURCE 1,2 Cut-off grade Indicated Inferred Total Resource Date (g/t Au) Tonnes Au (g/t) Gold (oz) Tonnes Au (g/t) Gold (oz) Tonnes Au (g/t) Gold (oz) Wedge May-23 0.6 - - - 487,000 1.52 23,800 487,000 1.52 23,800 Swan/Swift OC Jul-22 0.4 9,980,000 1.09 349,500 2,735,000 0.9
Slide 18: Comparative Valuation Data Sources
COMPARATIVE VALUATION DATA SOURCES Antipa Minerals Ausgold Limited • Resource – ASX Announcement: May 2025 – Updated MRE • Resource – ASX Announcement: June 2025 – DFS • Cash – ASX Announcement: July 2025 – Strategic Placement • Cash – ASX Announcement: March 2025 – Appendix 5B • Study – ASX Announc
Slide 19: Contact Details
CONTACT DETAILS Peter Sullivan Executive Chairman Leigh Ryan Managing Director +61 8 6331 6092 info@horizongold.com.au horizongold.com.au Unit 8 / 47 Havelock St. West Perth, WA 6005 ASX: HRN Haul Road to the Gidgee Mill 19