EDM Resources · TSXV:EDM
EDM Resources — Investor Presentation (September 2026)
33 slides from EDM Resources's investor presentation, September 2026
Slide 1: Near-Term Producer in a Tier-1 Jurisdiction
SEPTEMBER 2026 ZINC · LEAD · GYPSUM | NOVA SCOTIA, CANADA Near-Term Producer in a Tier-1 Jurisdiction Past-producing asset | ~C$400M of in-place infrastructure C$174M 69% 1.3-yr 2 0 2 1 P F S P RE - T AX N P V P RE - T AX I RR P A YB ACK Updated PFS incorporating design improvements and revised comm
Slide 2: Disclaimer
IMPORTANT NOTICES Disclaimer FORWARD-LOOKING INFORMATION & STATEMENTS NATIONAL INSTRUMENT 43-101 COMPLIANCE This presentation contains forward-looking information within the meaning of Technical information in this presentation is based on the following NI 43-101 Canadian securities legislation and
Slide 3: Advanced-Stage Zinc Developer in a Tier-1 Jurisdiction
EDM INVESTMENT HIGHLIGHTS Advanced-Stage Zinc Developer in a Tier-1 Jurisdiction 01 02 03 Near-Term Production FAA in DFO Review $400M Infrastructure In-Place Past-producing Scotia Mine positioned to Fisheries Act Authorization deemed Mill, tailings facility, power, roads and water restart in 2027/2
Slide 4: Past-Producing Asset in a Tier-1 Jurisdiction
SCOTIA MINE | NOVA SCOTIA, CANADA Past-Producing Asset in a Tier-1 Jurisdiction Past producing mine & mill with ~$150M invested to date Excellent infrastructure in place: buildings, roads, power, water, tailings storage Latest Pre-Feasibility Study completed in November 2021 (2021 PFS) Payable metal
Slide 5: Scotia Mine Key Features
AERIAL VIEW — FULLY-BUILT INFRASTRUCTURE ON 2,790 HECTARES Scotia Mine Key Features KEY SITE FEATURES Existing 2,700 tpd mill capacity; With opportunity to optimize via AI Ore Sorting Tech Grid power & water on-site; with ground water mitigation strategy in- place Gypsum overburden represents $55.7
Slide 6: ~C$400M of Infrastructure In-Place
REPLACEMENT COST ADVANTAGE ~C$400M of Infrastructure In-Place C$400M Mineral Processing Crushing & grinding circuits, flotation cells, tailings facility, metallurgical lab Mining Permitted waste stockpiles, dewatering wells, haul roads Maintenance Workshops, warehouses, large parts inventory EST. RE
Slide 7: Robust Project Economics
2021 PFS — KEY METRICS AT BASE CASE Robust Project Economics C$174M 69% 1.3 yr C$30.6M PRE-TAX NPV₈ PRE-TAX IRR PAYBACK PERIOD INITIAL CAPEX pre-tax NPV increase by +C$40M per +US$0.10/lb zinc 14.3 yr C$357M US$0.50/lb US$0.52/lb INITIAL MINE LIFE LOM FREE CASH FLOW LOM C1 CASH COST LOM AISC (ZNEQ)
Slide 8: Low C1 Cash Cost vs. Industry
FORECAST TO SIT IN THE 25TH PERCENTILE OF THE GLOBAL ZINC COST CURVE Low C1 Cash Cost vs. Industry WHY SCOTIA MINE IS LOW-COST GLOBAL ZINC C1 CASH COST CURVE — US$/LB Conventional open-pit mining with short waste and ore haulage distances Majority of waste is free-dig — reduces drill/blast spend 1.2
Slide 9: 25,450 Kt M+I Resource — Open Along Strike & At Depth
NI 43-101 MINERAL RESOURCE & RESERVE 25,450 Kt M+I Resource — Open Along Strike & At Depth MINERAL RESOURCE CLASSIFICATION TONNAGE (Kt) ZN % PB % ZNEQ % ZNEQ (Kt) GYPSUM (Kt) GYPSUM % Measured 4,320 2.57 1.32 3.83 158 1,530 92.8 Indicated 21,130 1.75 0.92 2.64 530 3,650 91.4 M+I Total 25,450 1.89 0.
Slide 10: One Permit From Production
FISHERIES ACT AUTHORIZATION IN FORMAL DFO REVIEW One Permit From Production PERMIT AUTHORITY STATUS FINAL PERMITTING — ON TRACK EA Approval — Main Mine Area NS Environment IN EFFECT ✓ Species-at-risk, groundwater & habitat studies — Complete EA Approval — SW Expansion NS Environment IN EFFECT ✓ FAA
Slide 11: Path to Production
STEADY RECORD OF EXECUTION Path to Production 2019–20 2021 2023–24 2025 2026 2027E New Mgmt & Board PFS Updated Permit FAA Studies FAA Deemed MRE & PFS Advancement Complete Complete Update Mark Haywood CEO; Includes gypsum value; resource +3x via legacy drill- C$174M NPV, 69% IRR Species-at-risk & w
Slide 12: Exploration & Gold Upside
DEPOSIT OPEN ALONG STRIKE & AT DEPTH | TWO -PHASE GOLD PROGRAM UNDERWAY Exploration & Gold Upside GOLD POTENTIAL — SEPT 2025 CONCENTRATE ASSAYS 142 g/t Au 2.93 g/t Au Lead concentrate composite Zinc concentrate composite (repeat assays 157 & 95.0 g/t) (repeat assays 3.64 & 1.46 g/t) 2021 PFS forecas
Slide 13: Zinc Market Tailwind
STRUCTURAL SUPPLY DEFICIT EXPECTED THROUGH 2031 Zinc Market Tailwind 5-YEAR ZINC PRICE — US$/LB TRENDING UP GLOBAL ZINC SUPPLY VS. DEMAND — Kt ZN ~3 Mt DEFICIT . , . , . . , US$1.83/lb current zinc price ~3 Mt projected supply deficit by 2031 Sources: FactSet, Zinc.org, CRU, IRENA, Wood Mackenzie Gl
Slide 14: Experienced Leadership Team
BUILT BY OPERATORS WITH PROVEN TRACK RECORDS Experienced Leadership Team MANAGEMENT Mark Haywood Arnab De Manish Grigo PRESIDENT, CEO & DIRECTOR CHIEF FINANCIAL OFFICER CORPORATE DEVELOPMENT, DIRECTOR 25+ yrs mining. Senior roles at AngloGold 20+ yrs financial management & strategy. 15+ yrs capital
Slide 15: Commercial Progress
REVENUE CONTRACTED AHEAD OF THE PRODUCTION DECISION Commercial Progress US$58M 7,000 oz/yr Zn & Pb TAKE-OR-PAY GYPSUM OFFTAKE SILVER ROYALTY CONCENTRATE OFFTAKES 250,000 t gypsum + 500,000 t off- C$1M prepayment received in equity Under negotiation — expected Q1 2027 for both spec/anhydrite annually
Slide 16: Ownership, Financing & Capitalization
TIGHT CAPITAL STRUCTURE WITH INSIDER ALIGNMENT Ownership, Financing & Capitalization CAPITAL STRUCTURE SHAREHOLDER BASE (BASIC) Shares Issued & Outstanding 81.3M Warrants @ $0.14 21.3M 46% Retail Options 5.7M 30% Institutions Total Fully-Diluted Shares 108.3M 24% Insiders TSX.V: EDM | FSE: P3Z | OTC
Slide 17: Trading at a Fraction of Peer Multiples
EDM'S P/NAV VS. ZN/BASE-METAL DEVELOPER PEERS Trading at a Fraction of Peer Multiples IMPLIED EDM SHARE PRICE AT PEER BENCHMARKS P/NAV (POST-TAX) — MARKET CAP ÷ NPV PEER P/NAV SHARE UPSIDE Titan Mining 0.59x C$0.94 +47% Canadian Copper 0.81x C$1.30 +103% Bunker Hill 4.20x C$6.72 +950% 8.15x 8x Foran
Slide 18: Investment Case
TEN REASONS TO OWN EDM RESOURCES Investment Case Built asset — existing mine, mill & infrastructure; not a greenfield Single permit — Fisheries Act Authorisation under formal DFO build review Strong economics — 69% IRR, 1.3-yr payback at 2021 prices; update Revenue contracted — US$58M gypsum offtake
Slide 19: Supporting Data
SUPPORTING DATA Appendix Supporting detail behind the 2021 PFS base-case economics — price sensitivity & cash flow, project-economics history, pit & process design, production profile, IRR sensitivity, capex breakdown, and valuation vs. peers. 19
Slide 20: Price Sensitivity & Cash Flow
APPENDIX A — STRONG RETURNS ACROSS THE ZINC PRICE CURVE Price Sensitivity & Cash Flow ZN/PB (US$/LB) NPV PRE-TAX NPV AFTER-TAX PRE-TAX IRR PAYBACK AVG. EBITDA LOM OPERATING CASH FLOW 1.00 / 0.90 1.10 / 0.95 $77M $117M $59M $88M 31.0% 43.6% 4.7 3.0 $9.8M $13.3M C$357M 1.20 / 1.00 $157M $116M 57.0% 1.
Slide 21: $357M in Project Cash Flow LOM
APPENDIX B — STRONG 14-YEAR OPERATING CASH FLOW $357M in Project Cash Flow LOM PROJECT OPERATING CASH FLOW BEFORE TAXES 1 Operating cash flow (C$) Zinc price (US$/lb) C1 cash cost (US$/lb) $45,000 $1.60 $40,787 $40,000 $1.40 $1.42 $35,924 $35,000 $34,082 $1.26 $32,733 $1.20 $1.20 $29,506 $29,181 $30
Slide 22: 14-Year LOM Production Profile
APPENDIX C — 14-YEAR LOM PRODUCTION PROFILE 445 Mlb payable Zn and 289 Mlb payable Pb LOM PAYABLE METAL BY YEAR (MLB) 1 Payable Zn (Mlb) Payable Pb (Mlb) 40 38.1 38.2 35.9 36.7 33.5 33.4 31.7 31.7 31.7 30.0 30.0 30 28.4 26.8 27.1 25.6 24.2 24.3 24.3 21.9 22.4 21.6 21.7 22.3 20 18.4 15.9 14.8 12.1 11
Slide 23: Transformational Growth in Project Economics Since 2019
APPENDIX D — PROJECT ECONOMICS Transformational Growth in Project Economics Since 2019 METRIC PEA · 2018 PFS · 2020 PFS · 2021 (CURRENT) Mine Life 7.7 yrs 14.3 yrs 14.3 yrs Base Metal Mined 6.6 Mt 13.66 Mt 13.66 Mt Gypsum Mined — — 5.18 Mt Zn Price (US$/lb) $1.25 $1.19 $1.22 Initial Capex (C$) $27M
Slide 24: 6-Phase Pit — Lowers Risk & Reduces Upfront Capital
APPENDIX F — STAGED OPEN-PIT DESIGN 6-Phase Pit — Lowers Risk & Reduces Upfront Capital PIT DESIGN HIGHLIGHTS All open-pit mining — conventional load & haul 6-phase pit design for optimal mining economics Majority of waste is free-dig Short ore & waste haulage distances Majority of expansion pit alr
Slide 25: Conventional Concentrator With Majority of Circuits In-Place
APPENDIX G — PROCESS FLOW & MILL REFURBISHMENT Conventional Concentrator With Majority of Circuits In-Place 3-MONTH REFURBISHMENT New crusher circuit Refurbish grinding circuit Refurbish flotation circuit New de-watering circuit New concentrate handling New transformer & backup power New process-wat
Slide 26: 14-Year Initial Mine Life · Payable 688.8 Mlbs ZnEq
APPENDIX D — LOM PRODUCTION PROFILE 14-Year Initial Mine Life · Payable 688.8 Mlbs ZnEq MINING, PROCESSING & CONCENTRATE — LOM MINING RECOVERED PAYABLE Total Ore 13.6 Mt — — Zinc 2.03% ore 238 Kt 202 Kt 241.5 Mlbs Lead 1.10% ore 138 Kt 131 Kt ZINC ZNEQ (PAYABLE) Gypsum 5.2 Mt ore 91.2% recov. 4.7 Mt
Slide 27: Strong Returns Across Zinc & Lead Price Variance
APPENDIX E — POST-TAX IRR SENSITIVITY Strong Returns Across Zinc & Lead Price Variance POST-TAX IRR VS. ZINC-PRICE VARIANCE FROM BASE CASE BASE CASE: 65% POST-TAX IRR Derived from 2021 PFS at US$1.20/lb Zn, US$1.05/lb Pb, US$8.60/t Gypsum (LOM average). LEVERED ZINC EXPOSURE Zinc is the primary driv
Slide 28: Low-Risk Capex Profile — ~40% Mill Refurbishment, No Greenfield Build
APPENDIX F — INITIAL CAPEX BREAKDOWN Low-Risk Capex Profile — ~40% Mill Refurbishment, No Greenfield Build 2021 PFS PRE-PRODUCTION CAPEX (C$M) Mill Refurbishment & Capital $12.3M 5.7× NPV / CAPEX RATIO C$174M NPV₈ ON C$ . M CAPEX Mining Pre-Stripping $9.0M Direct & Indirect Capital $2.9M NO GREENFIE
Slide 29: EDM vs. Bunker Hill — Two Past-Producing Zn/Pb Restarts
APPENDIX G — VALUATION & RE-RATE POTENTIAL EDM vs. Bunker Hill — Two Past-Producing Zn/Pb Restarts, Different Multiples METRIC EDM BUNKER HILL EDM P/NAV BUNKER HILL P/NAV Ticker Project TSX.V: EDM Scotia Mine, NS TSX: BNKR · BHLL Bunker Hill, ID 0.40× 4.20× Commodities Zn · Pb · Gypsum Zn · Pb · Ag
Slide 30: EDM vs. Titan Mining — Operating Zinc Peer With Growth Optionality
APPENDIX H — VALUATION & RE-RATE POTENTIAL EDM vs. Titan Mining — Operating Zinc Peer With Growth Optionality METRIC EDM TITAN MINING EDM P/NAV TITAN P/NAV Ticker Project(s) TSX.V: EDM Scotia Mine, NS NYSE-A: TII · TSX: TI Empire State + Kilbourne 0.40× 0.59× Commodities Zn · Pb · Gypsum Zn (produci
Slide 31: EDM vs. Foran Takeout — What M&A Pays
APPENDIX I — VALUATION & RE-RATE POTENTIAL EDM vs. Foran Takeout — What M&A Pays for a Near- Production Base-Metal Asset METRIC EDM FORAN @ TAKEOUT EDM P/NAV FORAN TAKEOUT P/NAV Ticker Project TSX.V: EDM Scotia Mine, NS TSX: FOM (acquired) McIlvenna Bay, SK 0.40× 8.15× Commodities Zn · Pb · Gypsum C
Slide 32: EDM vs. Canadian Copper — Same Atlantic-Canada Restart Playbook
APPENDIX J — VALUATION & RE-RATE POTENTIAL EDM vs. Canadian Copper — Same Atlantic-Canada Restart Playbook, ~2× the Multiple METRIC EDM CANADIAN COPPER EDM P/NAV CANADIAN COPPER P/NAV Ticker Project TSX.V: EDM Scotia Mine, NS Murray Brook + Caribou, NB CSE: CCI 0.40× 0.81× Commodities Zn · Pb · Gyps
Slide 33: Contact
CONTACT Mark Haywood Manish Grigo President, CEO & Director Corporate Development info@EDMresources.com info@EDMresources.com edmresources.com TSX.V: EDM | FSE: P3Z | OTCQB: EDMFF 33
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