Red Metal Limited · ASX:RDM
Red Metal — Noosa Conference July 2025
26 slides from Red Metal's conference presentation, Jul 23, 2025
Slide 1: 2025 Field Season
For personal use only ASX:RDM 2025 FIELD SEASON Noosa July 2025
Slide 2: Corporate Snapshot
Sybella Discovery Corporate Snapshot For personal use only ASX Code Board Of Directors & Senior Management Share Price : 16/07/2023 − 16/07/2025 RDM Rob Rutherford Managing Director Russell Barwick Chairman (non exec) Shares on Issue Joshua Pitt Director (non exec) 359,658,006 Kim Grey Exploration M
Slide 3: 2025 Field Season Near-Term News Flow
2025 Field Season Near-Term News Flow For personal use only Q2 25 Q3 25 Q4 25 Project Comments (completed) Sybella New REO Positive bottle roll Column leach Column leach results Mount Isa QLD Discovery pH optimisation (Kary Zone) (Kary Zone) DoD floor price $110/kg (Kary Zone) NdPr Pardoo Gold IP su
Slide 4: Sybella Discovery: A World First in Northwest Queensland
Sybella Discovery A ‘World First’ in Northwest Queensland New Granite-Hosted REO Deposit For personal use only • 12.4km long 3km wide intrusion • Just 20km SW of Mt Isa Giant Status • 4.795 Bt at 302 ppm NdPr, 28 ppm DyTb* (200 ppm NdPr cut-off grade) Includes Weathered Granite • 788 Mt at 297 ppm N
Slide 5: Soluble REO Ore Minerals, Low-Acid Consuming Host Rock
Soluble REO Ore Minerals Low-Acid Consuming Host Rock For personal use only Weathered Granite Base Lower Saprolite Transitional - Part Weathered & Part Fresh Granite Fresh Granite 5 RDM: ASX release dated 19 May 2025
Slide 6: Kary Zone R&D Bottle Roll pH Optimisation
Sybella Discovery Kary Zone R&D Bottle Roll pH Optimisation For personal use only • Large area multiple hole composite sample • 0-12m, 12-24m Large Area Composite • Weathered and Transitional Granite Samples • Representative of the Kary Zone • Templeton Zone tests underway Mapped Extension to Kary Z
Slide 7: Bottle Roll Leach Tests - Strong MREO extraction
Sybella Discovery Bottle Roll Leach Tests - Kary Zone R&D Strong MREO extraction Positive pH Optimisation For personal use only at pH 1.7 - 2.5 • Strong MREO extraction at (Improved Revenue) pH 1.7-2.5 • 70-80% NdPr • 40-60% DyTb 7 RDM: ASX release dated 19 May 2025
Slide 8: Bottle Roll Leach Tests - Reduced Fe and Al impurities
Sybella Discovery Bottle Roll Leach Tests - Kary Zone R&D Positive pH Optimisation For personal use only • Reduced Fe and Al impurities in pregnant liquor Reduced iron impurity in pregnant liquor at pH >2 (Reduced Costs) 8 RDM: ASX release dated 19 May 2025
Slide 9: Bottle Roll Leach Tests - Reduced acid consumption
Sybella Discovery Bottle Roll Leach Tests - Kary Zone R&D Positive pH Optimisation For personal use only • Reduced acid consumption Reduced acid consumption at pH >2 (Reduced Costs) 9 RDM: ASX release dated 19 May 2025
Slide 10: Bottle Roll Leach Tests - Comparative Economic Analysis
Sybella Discovery Bottle Roll Leach Tests - Kary Zone R&D Positive pH Optimisation For personal use only Comparative Economic Analysis • Economic optimum High Production Cost between pH 1.7-2.5 Nd Break-Even Cost US/kg • In-heap pathway to strip the iron impurities Opportunity to Maximise • Adjustin
Slide 11: Accelerated R&D Programs
Sybella Discovery Accelerated R&D Programs Column Test Work on Kary Zone Ore 1 For personal use only • Mineral scanning completed • Additional comminution tests and crushing Ore 2 • Column results Q4 2025 Ore 3 Potential Market Re-Rate #1 11
Slide 12: Pardoo: Hemi-style Gold Potential
Pardoo “Hemi-style Gold” Potential Pardoo Magnetic/Soil Targets For personal use only Extension of Hemi Terrain Untested • Untested magnetic targets • Same structural corridor • Same interpreted geological setting • Similar geophysical response • Under 50-150m of cover Hemi 12
Slide 13: Pardoo: Bullseye Magnetic Targets in Hemi-Corridor
Pardoo Bullseye Magnetic Targets in Hemi-Corridor For personal use only Hemi Magnetics Pardoo Magnetics Hemi Discrete Magnetic Bullseye Targets Pardoo PardooBullseyeTagets Magnetic Targets Hemi-style Bulls-eye Untested Magnetic Targets As-Sb-Sn Soil anomalism 2km Hemi - Vertical Derivative Magnetic
Slide 14: Pardoo: Anomalous Soils
Pardoo Anomalous Soils For personal use only Ultra-Fine Fraction Soils • Anomalous: As, Sb, Bi, W, Sn, Te, Ag, Zn over magnetic targets • Plus: Sn, Ta, Li targets Pardoo Anomalous Soils Pardoo TMI Image and Ultra-fine Fraction Soil Geochemistry 14 RDM: ASX release dated 21 July 2025
Slide 15: Pardoo: Electrical Survey Trials
Pardoo Electrical Survey Trials For personal use only IP and AMT Surveying • To assist drill positioning Pardoo 2 • 2000m, 8 holes drill ready • Drilling August/September 2025 Potential Market Re-Rate #2 3D View Magnetic high with adjacent weak IP chargeability 15 RDM: ASX release dated 21 July 2025
Slide 16: Pulkarrimarra: Paterson Province Gold and Copper
Pulkarrimarra Paterson Province Gold and Copper For personal use only Proven Terrain • Giant Intrusion-Related gold-copper deposits (Telfer, Havieron, Winu, Minyari) • Sedimentary-Hosted copper (Nifty) Pulkarrimarra • East - Red Metal 100% for Intrusion- Related gold-copper • West - BHP Alliance for
Slide 17: Pulkarrimarra East: Red Metal 100%
Pulkarrimarra East Red Metal 100% For personal use only Pulkarrimarra East Magnetic Targets Same Gravity Corridor Winu Magnetic Target Magnetic Image 17 Gravity Image RDM: ASX release 19 April 2022
Slide 18: Pulkarrimarra East: Drilling Q3 2025
Pulkarrimarra East Red Metal 100% For personal use only Drilling Q3 2025 Blue Resistivity High Untested Magnetic Albite/Silica Alteration? Targets YE3 YE3 YE1 YE4 YE1 YE4 YE2 YE2 Potential Market Re-Rate #3 ~11km Dcon db z 350m TMI Vertical Derivative 18 RDM: ASX release 19 April 2022
Slide 19: Gulf: Giant IOCG First Mover Advantage
Gulf Giant IOCG For personal use only First Mover Advantage • Covered extension of Cloncurry IOCG terrain (contains Ernest Henry) • First to apply high resolution gravity • Early drilling discovering new hematite and magnetite IOCG breccias Greyscale Vertical Gradient Magnetic Image Overlain by 19 R
Slide 20: Gulf: Giant IOCG Early Drilling
Gulf Giant IOCG For personal use only Early Drilling • New hematite and magnetite IOCG breccias emerging Untested GT9 GT7 Breccias GT7 Overprinting Breccia Hm-Mt-Carb +Bn+Cpy ~25km GT7 Early Breccia Mt-Cb-Py-Kf 20 RDM: ASX release dated 4 June 2025
Slide 21: Gulf: Large Untested Gravity Target GT9
Gulf Giant IOCG For personal use only Large Untested 5 Milli-gal Gravity Target GT9 • Comparable size and amplitude to gravity over giant Oak Dam deposit in SA • Drilling August 2025 Gulf GT9 Potential Oak Dam Market Re-Rate #4 Gravity Image Gravity Image 21 RDM: ASX release dated 4 June 2025, Gravi
Slide 22: 44% Equity in Maronan Metals
44% Equity in Maronan Metals ASX:MMA Silver-Lead & Copper-Gold Potential Moving Towards “Mine Ready” For personal use only Market Re-Rate • Silver-lead Cannington style #5 • Adjacent large copper-gold orebody • Scoping Study on Starter Zone imminent 22 MMA: ASX releases dated 6 March 2025, 9 April 2
Slide 23: 2025 Field Season Near-Term News Flow
2025 Field Season Near-Term News Flow For personal use only Q2 25 Q3 25 Q4 25 Project Comments (completed) Sybella New REO Positive bottle roll Column leach Column leach results Mount Isa QLD Discovery pH optimisation (Kary Zone) (Kary Zone) DoD floor price $110/kg (Kary Zone) NdPr Pardoo Gold IP su
Slide 24: Cautionary Statements
This Presentation was Authorised by the Board of Red Metal. Cautionary Statement Regarding Geophysical Targets For personal use only This announcement contains references to exploration results derived by other parties exploring in other fertile terrains in Australia and includes references to geoph
Slide 25: Competent Persons Statement
This Presentation was Authorised by the Board of Red Metal. Competent Persons Statement For personal use only The information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Robert Rutherford, who is a membe
Slide 26: Red Metal Limited Contact Details
For personal use only Red Metal Limited Rob Rutherford – Managing Director Level 15, 323 Castlereagh Street Sydney 2000 Ph: +61 (0)2 9281 1805 | Mobile: +61 (0) 429 651 126 admin@redmetal.com.au | www.redmetal.com.au 26