Noronex Ltd. · ASX:NRX
Noronex — Resources Rising Stars Gold Coast 2025
25 slides from Noronex's conference presentation, Sep 18, 2025
Slide 1: High-Impact Exploration in One of the World's Premier Emerging Copper Provinces
HIGH-IMPACT EXPLORATION IN ONE OF THE WORLD’S PREMIER EMERGING COPPER PROVINCES Hunting for a new generation of large-scale copper deposits in Namibia and Botswana in partnership with leading global miner South32 Resources Rising Stars Gold Coast | Victor Rajasooriar, Managing Director 18 September
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements: ● This presentation may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no a
Slide 3: Key Value Drivers
Key Value Drivers ~10,000 km2 South32 $20 million Our extensive strategic licence Our Strategic Alliance partner – a global A 5-year earn-in commitment holding in the Kalahari Copper mining & metals company with a diversified by South32 as part of the Belt – Namibia & Botswana asset base expanded St
Slide 4: Corporate Overview
Corporate Overview Experienced Board & Management Capital structure Current Shares on Issue 565.5m Share Price A0.013 Market Capitalisation $7.3m Cash (30 June 2025) A$1.0m David Prentice Victor Rajasooriar Piers Lewis Robert Klug Non-Exec Managing Director Non-Executive Non-Executive Enterprise Val
Slide 5: Copper Landscape: Driven by Strong Fundamentals
Copper Landscape: Driven by Strong Fundamentals Copper price up 14.6% over the year-to-date in 2025 to +US$10,000/t Goldman Sachs predict a fundamental shift in copper market dynamics: Forecast demand growth of 3.5% in 2026 Mining output growth capped at 1.2% p.a. due to declining ore grades
Slide 6: New Copper Discoveries Critical to Meet Growing Demand
New Copper Discoveries Critical to Meet Growing Demand Copper demand growing at over 3% per year as the world continues to decarbonise its energy production: World will need more copper this decade than in the previous 150 years Major shortage of new discoveries Source: BloombergNEF Transition
Slide 7: Kalahari District – A Major New Source of Copper Supply
Kalahari District – A Major New Source of Copper Supply Kamoa-Kakula (Ivanhoe) No resources in the belt in 2008 – now ~8Mt Cu Commenced 2021, Production ramping up from 400ktpa to 650ktpa Currently producing ~90ktpa of copper (~35% contained Copper Cu concentrate grade with Ag credits) Makoko (I
Slide 8: NRX – Strategic Position in this World-Class Copper Belt
NRX – Strategic Position in this World-Class Copper Belt ~10,000km2 landholding in the Kalahari Copper Belt – one of the world’s last under-explored large-scale copper frontiers Recently expanded Strategic Alliance with South32 provides strong technical, financial and strategic support Outstan
Slide 9: Noronex – Strategic Landholding in the Kalahari Copper Belt
Noronex – Strategic Landholding in the Kalahari Copper Belt ASX:NRX PAGE 9
Slide 10: Humpback-Damara (South32 earn-in) Namibia
Humpback-Damara (South32 earn-in) Namibia Covers the northern thrust fault margin of the Kalahari Copper Belt Several prospective domal structures evident South32 can earn 60% by spending $15M over 5 years FY25 (1st year) – expenditure of $3M completed, gathering technical data, RC programs
Slide 11: Drilling Program – FY26 (Namibia)
Drilling Program – FY26 (Namibia) Powerline Project – exploration targeting large domal features Plans underway to test the highly prospective T2, T4, T6, T10 & T11 domal prospects in FY26 A program of detailed magnetic grids completed recently to assist in the final location of the RC holes
Slide 12: Damara Project (South32 earn-in) – Pathway to Botswana
Damara Project (South32 earn-in) – Pathway to Botswana Scout drilling completed at Otjiupehuri, Namibia in FY25 Scout drilling has confirmed1 significant geological similarities with basement-hosted deposits in the Central African Copper Belt in Zambia and Congo Barrick’s Lumwana deposit in Za
Slide 13: Cgae Cgae Project – South32 earn-in
Cgae Cgae Project – South32 earn-in Two tenements applied for (Jan 2025) and granted in Feb 2025, covering over 1,500km2 of previously unexplored terrane in Botswana New tenements cover extensions of the basement complex to the north-east of Damara South32 agreed to include the Botswana teneme
Slide 14: Drilling Program – FY26 (Botswana)
Drilling Program – FY26 (Botswana) Soil sampling program carried out to develop geological understanding of the area BHP/Cobre carried out a seismic survey on their ground, which extended some 5km into Noronex’s ground1 Currently awaiting the raw data from the survey applicable to NRX’s teneme
Slide 15: Uranium Project – Namibia
Uranium Project – Namibia Low-cost Option Agreement to acquire the greenfields Etango North Uranium Project Located in the centre of Namibia’s hard rock uranium district Along strike from Bannerman Energy’s Etango Deposit (207Mlb contained U3O8) Experienced Namibian uranium team ASX:NRX PAGE
Slide 16: Uranium Project – Etango North
Uranium Project – Etango North Anomalous Alaskites intersected in drilling on adjacent tenure, data acquired AI used to define a highly prospective target zone Anomalous uranium potential continues into Domal closure Spectrometry survey completed in July 2025 Spectrometry survey identifies
Slide 17: Witvlei Copper Project – JORC Mineral Resource
Witvlei Copper Project – JORC Mineral Resource Indicated – Inferred Resources across four deposits: 10Mt @ 1.3% Cu JORC 2012 Resource1 95%-owned by Noronex, 5% Local partner Shallow near-surface sulphide mineralisation Resources constrained by pit shells Chalcocite in sediments, potentia
Slide 18: Witvlei Copper Project – Growth Potential
Witvlei Copper Project – Growth Potential Daheim New discovery on geochemical soil anomaly Numerous thick high-grade intercepts in complex structural setting, hosted in siltstones on contact with oxidised sandstones 1 RC intercepts include: Diamond Drilling – base of mineralised intercept 11
Slide 19: Witvlei Copper Project – Developments in the Region
Witvlei Copper Project – Developments in the Region Witvlei Deposits 10Mt @ 1.3% Cu JORC 2012 Resource1 Aiming to triple resources for a stand-alone operation Chalcocite in sediments, high-grade concentrate or SX-EW chloride heap leach potential Otjihase Consolidated Copper Ltd purchased
Slide 20: Other Projects – Ontario Copper Project, Canada
Other Projects – Ontario Copper Project, Canada Located on the Onaman-Tashota Greenstone Belt, ~3 hours’ drive to the NE of the key regional mining hub of Thunder Bay Noronex is one of the largest land-holders (26,000ha) targeting VMS discoveries in this district Well-serviced by the Trans-Can
Slide 21: Other Projects – Ontario Copper Project, Canada
Other Projects – Ontario Copper Project, Canada Most advanced project is the Lynx Deposit at Onaman, with a shallow JORC (2012) Inferred Mineral Resource: 1.63Mt at 1.61% Cu, 0.66g/t Au and 39.68g/t Ag Drilling to test potential extension to the Lynx South Lens returned intersections including
Slide 22: Key Investment Takeaways
Key Investment Takeaways Impressive belt-scale tenement holding in the Kalahari Copper Belt South32 Alliance provides funding, technical and strategic support to test multiple copper targets 7,000m RC program (Namibia) and 3,000m RC program (Botswana) in FY26 Expanded Strategic Alliance targeting ne
Slide 23: Contact details
Suite 1, 295 Rokeby Road, Subiaco, WA, Australia, 6008 PH +61 8 6555 2950 • EMAIL info@Noronex.com.au NORONEXLIMITED.COM.AU ASX:NRX PAGE 23
Slide 24: Competent Person's Statement
Competent Person’s Statement Table 1: DorWit Consolidated Mineral Resources at a cut-off grade of 0.5% Cu as at 01 March 2021 Oxidation Classification Tonnes Cu Ag Cu content Deposit State Category (Millions) (%) (ppm) (kilo tonnes) Indicated 0.11 1.30 7 1.4 ● The Mineral Resource estimate has been
Slide 25: Competent Person's Statement
Competent Person’s Statement ● The information in this report that relates to Mineral In June 2020, a JORC (2012) compliant resource (reported by G. Kirkham) was completed at the Lynx deposit representing approximately 600 metres Resources in Canada is based on information compiled of a 12km trend o