Carlton Precious Inc · TSXV:CPI
Carlton Precious — Investor Presentation (September 2025)
25 slides from Carlton Precious's investor presentation, September 2025
Slide 1: Corporate Presentation
TSXV: CPI CORPORATE PRESENTATION September 2025 www.carltonprecious.com Page 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Information set forth in this presentation contains forward-looking statements that are based on assumptions as of the date of this presentation. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of futur
Slide 3: Investment Proposition: The Esquilache Silver Flagship Project
INVESTMENT PROPOSITION THE ESQUILACHE SILVER FLAGSHIP PROJECT Carlton Precious Inc. owns 100% of Esquilache Project Large silver deposit in the prolific southern Peru Silver District Historical Hochschild Mining Operation, 1,000,000 tonnes of ore at 116.57 g/t Ag, 3.2% Pb, 4.8% Zn, 0.3% Cu over
Slide 4: CPI Current Capital Structure
CPI CURRENT CAPITAL STRUCTURE TSX VENTURE SYMBOL : CPI SHARE PRICE PERFORMANCE Shares Issued 86,606,554 Warrants 20,180,776 Options 7,895.000 Fully Diluted 114,682,330 Insider ~25.3% Institutional ~10.7% www.carltonprecious.com TSXV: CPI 4
Slide 5: The CPI Team
THE CPI TEAM Marc Henderson Martin Walter Chairman Director & CEO 30 years experience in the mining sector developing 20 years of geological experience on precious metal projects numerous Companies including Aquiline Resources, worldwide and as CEO of public junior mining companies Treasury Metals,
Slide 6: Global Silver Demand Dynamics
GLOBAL SILVER DEMAND DYNAMICS Total supply expected to grow modestly Silver demand is driven by industrial, investment, and to 1.05 billion oz in 2025 technological uses. Mine supply expected to grow modestly to Photovoltaic solar panels contribute significantly to rising 844 Moz in 2025 sil
Slide 7: Esquilache – Best Location for Silver
ESQUILACHE – BEST LOCATION FOR SILVER PERU IS NUMBER 3 IN SILVER AND COPPER PRODUCTION Corani Good infrastructure Colombia Constancia San Rafael Ecuador (power, water, Orcopampa Bolivia roads) ESQUILACHE (CPI) Juliaca PERU Lake Community Yanacocha Puno Titicaca El Triunfo San Gabriel agreement s
Slide 8: Esquilache – Regional Geological Context
ESQUILACHE – REGIONAL GEOLOGICAL CONTEXT The large caldera structure hosts a system of polymetallic, low- to intermediate-sulfidation, epithermal to mesothermal veins containing silver, lead, zinc, copper and significant gold grades. Mineralization in these veins has been shown to range consiste
Slide 9: Esquilache – Geology
ESQUILACHE – GEOLOGY Horsetail high-grade veins exposed at surface suggest open pit along with underground operations Metatllurgical studies show possibility to produce North Zone : Creston Target silver-lead, silver-zinc and copper-gold concentrates Deposit open below shallow drilling for res
Slide 10: Esquilache – Geophysical Anomalies
ESQUILACHE – GEOPHYSICAL ANOMALIES CHARGEABILITY Strong and consistent chargeability response 3 km needs to be drill tested to depth. Continuity and shape edge definition Correlates well with Mamacocha & Creston high grade zones and surface mineralization. Resistivity plots map possible buri
Slide 11: Esquilache – Sampling Program
ESQUILACHE – SAMPLING PROGRAM TARGETING MAMACOCHA & CRESTON ZONES The sampling program completed in late 2024 targeted multiple veins of the Mamacocha and Creston Zones. High gold values were reported from Franja de Oro, the Project’s gold belt where a stockwork zone (400m x 200m) of quartz-sulf
Slide 12: Esquilache Silver Project - Historical Drilling
ESQUILACHE SILVER PROJECT - HISTORICAL DRILLING Historical drilling by previous operator is very encouraging BEST RESULTS FROM VENA RESOURCES 2009-2015 Zones of high- grade gold are common at Esquilache – gold belt www.carltonprecious.com TSXV: CPI 12
Slide 13: Fly Over Gives Sense of Scale
FLY OVER GIVES SENSE OF SCALE www.carltonprecious.com TSXV: CPI 13
Slide 14: Targeting the Historic High Grade Mining Zones
TARGETING THE HISTORIC HIGH GRADE MINING ZONES • The primary objective of the drill plan in the Mamacocha area is to expand the Inferred Resource, using a 100-metre spacings Gold Mineralization (2025 Model) B • Zone A: The Sta.Cruz- Elvira Depth target is characterized by high Ag grades and remains
Slide 15: Targeting the Gold Zones
TARGETING THE GOLD ZONES A A’ • Gold Zone drilling plan is focused to extend the gold Verification of Au distribution shell at depth and along Au Stockwork strike. The higher Ag values of Elvira, Ivet veins Secti are also targeted with on these fourteen holes. Top Map of Mamacocha Area and Section l
Slide 16: Targeting the Silver Zones
TARGETING THE SILVER ZONES B B’ • Six drill holes planned in Santa Cruz and the Elvira Deep zones • Three drill holes to confirm and calculate the Verification of Ag mineralization volume interpretation of Gold Stockwork to depth. • Six drill holes planned to Verification of interpretation and test
Slide 17: Historical Plant Site – 1960s
HISTORICAL PLANT SITE – 1960S Historical plant foundations and buildings Old tailing grading 4 g/t Ag Goldfield’s concrete foundations and clearings www.carltonprecious.com TSXV: CPI 17
Slide 18: Esquilache Silver Project: Conceptual 2013 Mine Building Proposal
ESQUILACHE SILVER PROJECT THE CONCEPTUAL 2013 MINE BUILDING PROPOSAL Prior Engineering and Metallurgy Studies Completed by prior TSXV listed junior developer. Starter with ~50,000 tonnes @ 4 ounces Ag/t of old dumps and tailings exist at Esquilache Power Substation Actual Power Line Tailing 01 T
Slide 19: Esquilache – Engineering Studies
ESQUILACHE – ENGINEERING STUDIES ESQUILACHE DEPOSIT MODELLING AND ADIT PLUS CONCEPTUAL PIT (DESIGN) Permits for a drilling campaign are being submitted Drill program to commence in Q4 The program will be designed to bridge the continuity of the known mineralization as well as extend to depth t
Slide 20: Esquilache – Business Plan
ESQUILACHE – BUSINESS PLAN FOCUS ON UPDATING 2013 ENGINEERING & ADDING MINE PERMITS SOCIAL/GOVERNMENT PERMITS ENGINEERING GEOLOGY Government Permits Mining Brownfield - Initially, project will use - Simple Mining and Stoping - Initial 6,000m drill program formalization mining law Method using Gravit
Slide 21: Dunfee Gold Project, Nevada
DUNFEE GOLD PROJECT Located in Gold Point District, Esmeralda County, Nevada Nevada Reno 22 unpatented claims north of AngloGold’s Silicon Project Hawthorne 100% owned and 100% royalty free. Along US Highway 95 between Tonopah and Beatty Tonopah Goldfields Early-stage asset in a growing go
Slide 22: Dunfee Gold Project – World Class Gold Belt
DUNFEE GOLD PROJECT – WORLD CLASS GOLD BELT On July 15, 2025, AngloGold Ashanti announced the acquisition of Augusta Gold Corp for C$1.70/share, a 32% premium to Augusta's 20-day VWAP. Transaction valued at ~C$78 million (US$57 million), payable in cash. Augusta’s key assets include the Bullfr
Slide 23: Dunfee Project Map
DUNFEE PROJECT MAP Despite its location in a district known for historical production, Dunfee has never seen modern drill testing. Historical shafts and prospect pits trace over several kms of gold-bearing quartz veins Surface and dump material grading Up to 1.0 oz/ton Au, and Up to 10 oz/ton
Slide 24: Other Assets – Gold & Silver & Copper
OTHER ASSETS – GOLD & SILVER & COPPER 23% 100% 100% 31% 100% 100% Fosterville East Mathinna & Lefroy Yandoit Gold Dunfee Gold Copper Hills Gold Athena Gold Gold Project Gold Complex Project Nevada Project New Corporation Australia Australia Australia USA Mexico USA Athena Gold Corp. Investment Excel
Slide 25: Carlton Precious Inc. TSXV: CPI
Carlton Precious Inc. TSXV: CPI Head Office: Exchange Tower, 130 King St W, Toronto info@carltonprecious.com www.carltonprecious.com Page 25
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