Challenger Gold Limited · ASX:CEL
Challenger Gold — JMM Gold Forum 2026
10 slides from Challenger Gold's conference presentation, September 2026
Slide 1: Challenger Gold - JMM Gold Forum 2026
CHALLENGER GOLD - JMM GOLD FORUM 2026 SEPTEMBER 2026 ASX: CEL Investor Presentation September 2026 1
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER DISCLAIMER This presentation is for informational purposes only and does not constitute an offer to sell, or solicitation to purchase, any securities. Such Offer can be made only through proper subscription documentation and only to investors meeting strict suitabili
Slide 3: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER JORC CODE It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves ("JORC Code"). Investors
Slide 4: Two Large-Scale Gold Projects
TWO LARGE-SCALE GOLD PROJECTS Near-term Production Pathway with Long-term Growth Optionality HUALILÁN EL GUAYABO Gold Development Project1 Gold-Copper Exploration Project2 San Juan, Argentina El Oro, Ecuador El Guayabo 2026 PFS HIGHLIGHTS LARGE SCALE PORPHYRY SYSTEM Advancing from exploration 9.1 Mo
Slide 5: Hualilán Gold Project
HUALILÁN GOLD PROJECT 2026 PFS Economics and Key Project Attributes Fully Permitted MEANINGFUL PRODUCTION COMPELLING VALUE EIA already approved, enabling full mine development and production. 1,843 koz $1,101 M Tier-1 Mining Jurisdiction LOM gold equivalent production, post-tax NPV at a 5% discount
Slide 6: Hualilán Opportunities
HUALILÁN OPPORTUNITIES Multiple Pathways to Increase Project Value MAY 2026 PFS 2027 PFS UPDATE UPSIDE OPPORTUNITIES PRODUCTION START Phase 1: 2030, Phase 2: 2032 Brought forward by 1 year (Phase 1 production 2029, Phase 2 production 2031) Indicated + Inferred + Potential MINING INVENTORY Indicated
Slide 7: Exploration & Reserve Growth
EXPLORATION & RESERVE GROWTH Initial Drilling Designed to Incrementally Expand In-Pit & Near-Pit Mineralization DRILL TARGETS: NORTH END OF RESERVES PIT First Exploration Program in 3 Years SECTION VIEW 35,000m drilling campaign launched to expand resources and reserves, convert ARANITE resources to
Slide 8: Hualilán Roadmap to Commercial Production
HUALILÁN ROADMAP TO COMMERCIAL PRODUCTION Integrated Strategy to Achieve Stand-Alone Gold Production by Early 2029 ACCELERATED TIMELINE 2026 2027 2028 2029 PFS ENGINEERING, PROCUREMENT & CONSTRUCTION PRODUCTION STRATEGIC PRIORITIES ENGINEERING EXPLORATION $ FINANCING EXECUTION • Advance detailed eng
Slide 9: Strategic Objectives
STRATEGIC OBJECTIVES Five Priorities to Increase Shareholder Value Hualilán Commercial Production by Early 2029 1 • Proactively advance detailed engineering • Complete expanded testwork programs • Procure long-lead-time equipment Increase Hualilán NPV Ahead of Construction 2 • Exploration and reserv
Slide 10: Investment Summary & Near-Term Catalysts
INVESTMENT SUMMARY & NEAR-TERM CATALYSTS A Compelling Pathway to Near-Term Gold Production, with Milestones Through 2027 INVESTMENT SUMMARY Production targeted for early 2029 at Hualilán Fully permitted, capital efficient gold development project Robust PFS economics with quick payback and staged ca