Middle Island Resources Limited · ASX:MDI
Middle Island Resources — Investor Presentation (September 2025)
39 slides from Middle Island Resources's investor presentation, Sep 2, 2025
Slide 1: Creating a Global Copper-Gold Explorer
September 2025 Presentation CREATING A GLOBAL COPPER-GOLD EXPLORER Transformational Acquisition of Serbian Exploration Company Konstantin Resources
Slide 2: Disclaimer and Important Information
DISCLAIMER AND IMPORTANT INFORMATION Important notice Past performance These presentation slides (the “Slides”) have been issued by Middle Island Resources Limited (the “Company” or “Middle Island”) in relation to an update on activities by the Company. The Slides do not constitute an offer or invit
Slide 3: Corporate Snapshot (Pre-Konstantin Acquisition)
Share Price A$0.02 CORPORATE 52 week high $0.03, low $0.01 Shares on Issue SNAPSHOT 293m Options on Issue 16m (PRE-KONSTANTIN Market Capitalisation ACQUISITION) A$5.9m Top 20 Shareholders: ~59% Cash Board & Associates*: ~36% A$2m Debt All data from 29 August 2025 Nil *Included in Top 20 Shareholders
Slide 4: MDI Leadership Team
MDI LEADERSHIP TEAM Daniel Raihani Non-Executive Director Richie Yang Non-Executive Director Brad Marwood Non-Executive Director Proven track record in capital markets & Accountant & tax professional with Managing Director of Sydney/ Mining engineer & senior executive exploration success broad execu
Slide 5: Transforming Middle Island into a Multi-Jurisdictional Copper-Gold Explorer
Acquisition Snapshot Transformational Acquisition (1) TRANSFORMING Konstantin Resources acquisition marks a transformational change for Middle Island MIDDLE ISLAND Diversified Exploration Portfolio Creates a multi-jurisdictional copper-gold explorer with projects in Australia and Serbia INTO A Expan
Slide 6: 100% Owned Projects 9,000km²+ Combined Landholding
Expanded Landholding Serbian Copper-Gold Portfolio 100% OWNED 100% owned portfolio covering more than 600km2 Three major project areas: Bobija, Timok, Priboj Strategically located within the Western Tethyan Belt, one PROJECTS of the world’s most prolific copper-gold provinces 9,000KM²+ COMBINED Aust
Slide 7: Post-Transaction Capital Structure
(1) (1) Shares % Options Cash (A$) (2) (3) MDI Shares on Issue 293.2M 30% 15.9M $ 2.1M POST- Placement 200.0M 20% 20.0M $ 3.4M Konstantin Acquisition TRANSACTION (4) (1) 475.0M 48% 100.0M - (40% subject to 6-month escrow) Introducer’s Fee 23.8M 2% CAPITAL Transaction Costs ($0.3M) (5) STRUCTURE Post
Slide 8: Acquisition of Konstantin: Copper–Gold Projects in Serbia
Acquisition of Konstantin: Copper–Gold Projects in Serbia 8
Slide 9: Technical Leadership Team
TECHNICAL LEADERSHIP Peter Spiers David A-Izzeddin Dragan Dragic TEAM Executive Chairman (KRL) Non-Executive Director (KRL) Exploration Manager (KRL) Geologist with 30+ years Geologist with 30+ years Dragan Dragic, Geologist with Proven track record in capital markets & experience in exploration, ex
Slide 10: High-Potential Copper-Gold Projects in Top-Tier Location
HIGH-POTENTIAL COPPER-GOLD PROJECTS IN TOP- World-Class Established Mining Multiple High- Jurisdiction Potential Targets TIER LOCATION Mineral Province 600km²+ of 100% owned (2) Western Tethyan Belt hosts Serbia has a long mining giant copper-gold deposits history and a modern exploration projects T
Slide 11: World-Class Mineral Province
World-Class Mineral Province Host to Giant Deposits Regional metal inventory (1) >50Mt Cu >140Moz Au >20Mt PbZn (1) Refer to Appendix for details of third-party mineral deposits comprising regional inventory. 11
Slide 12: Value Creation from Recent Discovery & Development: Serbia & Region
Value Creation from Recent Discovery & Development: Serbia & Region Vares Mine (Adriatic Metals) Coka Rakita Project (Dundee PM) • 20.9Mt @ 1.1g/t Au, 153g/t Ag, 0.4% • PFS – Dec. 2024 (1) Cu, 2.8% Pb, 4.3% Zn & 0.2% Sb • 6.6Mt @ 6.38g/t for 1.4Moz Au(4) • Mine commissioned 2024 • NPV5 US$1.2B @ US$
Slide 13: High-Potential Project Areas
High-Potential Project Areas (1) Refer to subsequent slides for location of rock chip samples shown on this slide. (2) Refer to MDI ASX announcement “Transformational Acquisition of Serbian Copper-Gold Exploration Portfolio” dated 02 Sept. 2025 13 for details of all rock chip / grab samples collecte
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Slide 15: Bobija Project: Targeting High Grade or Massive Sulphide Mineralisation at Historic Mine Sites
Bobija Project: Targeting High Grade or Massive Sulphide Mineralisation at Historic Mine Sites Location & Scale Strongly mineralised belt with multiple base and precious metal deposits. Project area: 208km2 3 granted Exploration Licences, 1 Exploration Licence application (1) 2 granted Mining Licenc
Slide 16: Bobija Project: Historical Open Pit Mine with Exposed Sulphide Mineralisation
Bobija Project: Historical Open Pit Mine with Exposed Sulphide Mineralisation Bobija Open Pit Mine Polymetallic VMS / SEDEX Deposit Au–Ag–Cu–Pb–Zn ± Ba Location & Tenure (1) Open pit mine on granted EL / ML 10-year option agreement over ML Geology & Footprint Flat-lying deposit with ill-defined foot
Slide 17: Bobija Cross Section: View to East
Bobija Cross Section: View to East Multiple Zones of Barite-Sulphide Mineralisation (1) Source: after Reservoir Minerals (24 Nov. 2014), Nevsun Resources (Oct. 2016) and Government drill logs. (2) Government era drill holes shown were not assayed for gold or silver. 17
Slide 18: Bobija Cross Section: View to North
Bobija Cross Section: View to North ˜200m Wide Zone Of Barite-Sulphide Mineralisation (1) Source: after Reservoir Minerals (24 Nov. 2014), Nevsun Resources (Oct. 2016) and Government drill logs. (2) Assays not available for Government drill holes B-15 to B-18 and B-39. Government era drill holes sho
Slide 19: Timok Project
= Konstantin? os aS (@pplication), 25 Se : a & Konstantin? ~ - 3 2G {etBplication) . ae aes Se y ~ ee L. \ alee Majdanpek Mine (6Mt-Cu / 11Moz Au)” ‘ . TIMOK PROJECT (1). Sulbiest of ase and Purehese Agreement with Raiden Resourees (AS: DN providing pathway to 100% ownership (1.0% NSF royalty applie
Slide 20: Timok Project: Targets identified close to major deposits in World-Class Copper-Gold District
Timok Project: Targets identified close to major deposits in World-Class Copper-Gold District Location & Scale Highly mineralised belt hosting multiple world-class copper-gold deposits and operating mines. (1) Project area: 218km2 5 Exploration Licences (1 granted, 4 applications) 2 Tenement Groups
Slide 21: Majdanpek West Targets
Majdanpek West Targets (1) Copper and Gold Multiple copper/gold targets identified in airborne magnetic survey • Prospective lithologies confirmed • Multiple untested anomalies across licence area Range of target deposit types Porphyry / skarn / epithermal copper-gold deposits (Timok Magmatic Comple
Slide 22: Brodica Goldfield: Historical Mining Activity
Brodica Goldfield: Historical Mining Activity Gold production from the Brodica goldfield spans > 1,700 years Kraku lu Jordan smelter (3rd century) Alluvial Dredge – Pek River Ogasu Retros workings Brodica Mine 22
Slide 23: Brodica Gold Target: Bonanza Grade Mineralisation
Brodica Gold Target: Bonanza Grade Mineralisation Multiple historic gold mines / workings • Initial focus on gold production, shifting to tungsten in the 1960s Bonanza-grade face samples reported from historic workings (1) • Brodica: up to 114g/t Au & 179g/t Ag • Cubera: up to 41g/t Au & 2,385g/t Ag
Slide 24: Mim Ate OS Te OP ae
Mim Ate OS Te OP ae
Slide 25: Priboj Project: Targeting Large-Scale Copper & Gold Systems
Priboj Project: Targeting Large-Scale Copper & Gold Systems Location & Scale Highly mineralised belt with minimal prior exploration Project area: 195km² (1) 3 granted Exploration Licences, 100%-owned Priboj – copper focus / Ober – gold focus Opportunity & Targets The region hosts multiple deposits a
Slide 26: Priboj Copper Target: Multiple Large-Scale Anomalies / Rock Chip Samples Up To 11.3% Cu
Priboj Copper Target: Multiple Large-Scale Anomalies / Rock Chip Samples Up To 11.3% Cu (1) Anomaly figures shown indicate average copper assays inside +100ppm Cu contour or designated anomaly boundary. (2) Refer to MDI ASX announcement “Acquisition of Konstantin Resources’ Serbian Copper-Gold Explo
Slide 27: Black Smokers: Modern Day VMS Deposits
Black Smokers: Modern Day VMS Deposits Mid-Atlantic Ridge Black Smoker Modern Day Hydrothermal Vent Fields 27
Slide 28: Ober Gold Target: Sediment Hosted Gold Mineralisation
Ober Gold Target: Sediment Hosted Gold Mineralisation (Rock Chip / Float Up To 1.85g/t Au) (1) Refer to MDI ASX announcement “Transformational Acquisition of Serbian Copper-Gold Exploration Portfolio” dated 02 Sept. 2025 for details of all rock chip / grab samples collected by Konstantin Resources L
Slide 29: Ober Gold Target: Zabrnjica Soil Anomaly
Ober Gold Target: Zabrnjica Soil Anomaly / Rock Chip Samples Up To 1.85g/t Au (1) Refer to MDI ASX announcement “Acquisition of Konstantin Resources’ Serbian Copper-Gold Exploration Portfolio With Placement” dated 02 Sept. 2025 for details of all rock chip / grab samples collected by Konstantin Reso
Slide 30: The Next Chapter: A Transformed Company Built for Discovery
THE NEXT • The Acquisition of Konstantin Resources creates a multi-jurisdictional explorer with high-quality copper-gold projects in both Serbia and Australia (1) CHAPTER • This heralds a transformational change for Middle Island with a combined A TRANSFORMED (2) landholding of more than 9,000km² ho
Slide 31: Contact
Contact Phone (08) 9322 1430 Email: info@middleisland.com.au Address: Middle Island Resources Limited Suite 1, 2 Richardson St West Perth, WA 6005 ABN: 70 142 361 608 31
Slide 32: Appendix
Appendix 32
Slide 33: Barkly Copper-Gold Super Project Tenements & Targets
BARKLY Barkly tenements primarily cover the interpreted COPPER-GOLD eastward extensions of the prospective SUPER Tennant Creek Mineral Field PROJECT Proterozoic stratigraphy, that includes the East TENEMENTS & Tennant Ridge and Burnette TARGETS Downs Rift corridor. 33
Slide 34: Barkly Copper-Gold Super Project, Northern Territory, Australia
Barkly Copper-Gold Super Project Northern Territory, Australia Location & Scale Northern Territory, Australia – 100% owned flagship project 16 exploration licences (14 granted, 2 pending) covering 6,918km² Opportunity & Targets Pipeline of drill-ready targets already established through geophysical
Slide 35: Barkly Copper-Gold Super Project: Recent Updates
Barkly Copper-Gold Super Project Northern Territory, Australia Recent Updates Government Support Co-funding grant awarded under Round 17 NT Government’s Geophysics and Drilling Collaboration program Completed (ASX Release 1 July 2025) First-round drilling across IOCG targets (Wilma, Pebbles, Dino) G
Slide 36: Queensland Copper-Gold Projects, Queensland, Australia
Queensland Copper-Gold Projects Queensland, Australia Location & Scale Pipeline of pending tenement applications targeting porphyry copper-gold and epithermal- gold style deposits Opportunity & Targets Future-facing copper-gold exploration portfolio with low holding costs: Ridgelands Project, Greenb
Slide 37: Konstantin Tenement Schedule
Konstantin Tenement Schedule Project Tenement Area (km2) Interest Status Bobija Bobija 29.8 100% Granted Kamenita Kosa 25.7 100% Granted Orovica 84.1 100% Application Bobija East 67.7 100% Granted Bobija ML 0.2 0% Granted (1) Tisovik ML 0.4 0% Granted (1) Priboj Jermovac 5.7 100% Granted (2) Priboj
Slide 38: Deposit Reference Sources
Deposit Reference Sources Reported Size Deposit / Camp Source Comments Au (Moz) Ag (Moz) Cu (Mt) Pb (Mt) Zn (Mt) PbZn (Mt) Ada Tepe camp 4.1 16.6 0.6 0.1 0.1 0.2 Comprises Ada Tepe, Madjarovo & Rozino deposits Dundee Precious Metals. Corporate presentation 'Entering a New Phase of Free Cash Flow Gro
Slide 39: Deposit Reference Sources (continued)
Deposit Reference Sources (continued) Reported Size Deposit / Camp Source Comments Au (Moz) Ag (Moz) Cu (Mt) Pb (Mt) Zn (Mt) PbZn (Mt) Madan - - - 2.4 2.0 4.4 Vassileva, R,. et al. 'PbZn Deposits in the Madan Ore Field - South Bulgaria' dated November 2005. 95Mt @ 2.54% Pb, 2.10% Zn (Production from
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