Santana Minerals Ltd. · ASX:SMI
Santana Minerals — AusIMM NZ Branch Conference 2025
20 slides from Santana Minerals's conference presentation, Aug 26, 2025
Slide 1: Bendigo-Ophir Gold Project
For personal use only Bendigo-Ophir Gold Project Developing New Zealand's newest and richest gold mine AusIMM NZ Branch Conference August 2025
Slide 2: Disclaimer
Disclaimer For personal use only Disclaimer Cautionary Statement – Inferred Resources Included in Production Target All information contained in this presentation is of a general nature. Potential investors are cautioned against using the content of this Of the Mineral Resources planned for extracti
Slide 3: NZ claims #1 Mining investment spot
NZ claims #1 Mining investment spot For personal use only 3
Slide 4: Location – Central Otago Goldfields
Location – Central Otago Goldfields For personal use only Long history of gold CROMWELL mining GOLD RUSH One hour east of Queenstown RAS Deposit 90km West of OceanaGold’s Macraes gold mine 20min drive from Cromwell with 8,000 people HISTORIC In the semi-arid central DREDGING Otago Privat
Slide 5: Bendigo-Ophir Gold Project (BOGP)
Bendigo-Ophir Gold Project (BOGP) For personal use only New Zealand’s most significant single gold discovery of the past four decades. Annual gold Total Gold production Mine Life Mine revenue Recovered 14 years $6.9 Billion Up to 120,000oz 1.25Moz Open pit lifespan Underground Indirect job Direct jo
Slide 6: Blessed with infrastructure
Blessed with infrastructure For personal use only No FIFO Bendigo-Ophir Project RAS No airstrips Deposit Clean water 66kV Substation 8km from the project Green hydro power Low-cost power State Highway 8 Skilled workforce EASY ACCESS Borefield FRESH WATER Cromwell 8,000 people Queenstown Internationa
Slide 7: Project discoveries
Project discoveries For personal use only Rise and Shine (RAS) RAS 2.08Moz @ 2.4 g/t Au 1.21Moz Probable Ore Reserve Come In Time CIT 59koz @ 1.5 g/t Au Srex SRX 145koz @ 0.9 g/t Au 30koz @ 0.7 g/t Au Ore Reserve Srex-East SRE 52koz @ 1.1 g/t Au Combined Total RSSZ 2.34Moz @ 2.1 g/t Au* ASX release
Slide 8: Northern Honeypot results extend HG1
For personal use only 1.7km long Northern Honeypot results extend HG1 Recent drilling at depth shows system getting thicker again Underground mining Reserve conversion potential 31.9m @ 5.3g/t “Honeypot” thickening 8
Slide 9: The Rise & Shine (RAS)
The Rise & Shine (RAS) For personal use only Battery Hill • A blind discovery • 85,000m+ of DiamondBENDIGO Drilling STATION ARDGOUR STATION Rise• & 1.7 kmValley Shine down- plunge and open Shepherds Creek TZ4 Schist • 450m wide TZ3 Schist • High-grade core (150m-200m wide) (30 - 40m thick) Thomson G
Slide 10: Bendigo-Ophir Gold Project PFS outcomes
Bendigo-Ophir Gold Project PFS outcomes For personal use only Gold production profile option to increase ounces with mill upgrade to 1.8Mtpa 140 120 Production (kOz) 100 Strong financials Units Total A$ 80 Revenue $ billion 6.2 60 40 EBITDA $ billion 4.0 20 - Free cash after tax $ billion 2.5 Year 1
Slide 11: Proposed mine infrastructure and layout
Proposed mine infrastructure and layout For personal use only Project is located on private free-hold farm land with agreements in place to mine. Allows a smooth pathway to permitting. Maximum footprint shown for illustration Project infrastructure includes purposes only Open pit mines Underground 1
Slide 12: Conventional CIL processing plant
Conventional CIL processing plant For personal use only Six phases of metallurgical testing completed Very high recoveries at RAS of 93% 32% gravity gold THE PFS DESIGN USES SIMPLE CIL TECHNOLOGY TO GENERATE VERY HIGH RECOVERIES 1 Three stage crush 2 Ball milling 3 Gravity circuit 4 CIL 5 Electrowin
Slide 13: Permitting and timeline to first gold
Permitting and timeline to first gold For personal use only PROJECT: Bendigo-Ophir Gold Project Expected Planned 2025 2026 2027 Project start date: Aug Sept Oct Nov Dec Q1 Q2 Q3 Q4 Q1 Q2 Scrolling increment: Wk 1 Wk 2 Wk 3 Wk 4 Wk 1 Wk 2 Wk 3 Wk 4 Wk 1 Wk 2 Wk 3 Wk 4 Wk 1 Wk 2 Wk 3 Wk 4 Wk 1 Wk 2 Wk
Slide 14: Finding the next RAS
Finding the next RAS For personal use only 290sqkm of tenure Strong soil anomalies at DNS 2km of and ORK stacked river tailings Stacked tailings from historic 30km mining, untested 30km of strike Christchurch regional exploration program unfolding Queenstown Dunedin 14
Slide 15: Mine closure planning
Mine closure planning For personal use only CIT ELF ELF ELF RAS pit lake TSF SRX pit lake ELF 15
Slide 16: 3D Map
3D Map aaa Dunstan Range Rise & Shine / Shepherds Catchments Rehabilitated Post-Mining Closure Landscape (View N)
Slide 17: Corporate snapshot
Corporate snapshot For personal use only Board & Management Funded to FID Peter Cook Kim Bunting Capital Structure Non-Exec Chair Non-Exec Director Geo and mine maker Geo who discovered RAS Market A$483 million Capitalisation 826 million FPO shares @ A$0.58/share – 22 Aug, 2025 Damian Spring Emma Sc
Slide 18: Summary
Summary For personal use only MDD054 Nationally significant Fast-track project >$1 billion in taxes and gov’t royalties >1000 job applications so far Biggest NZ gold discovery in 40 years Outstanding PFS economics Construction 2026 Significant discovery upside on highly fertile tenure
Slide 19: Appendix 1: Mineral Resource Estimate
Appendix 1: Mineral Resource Estimate For personal use only Deposit Category tonnes (Mt) Au grade (g/t) Contained Gold (koz) Indicated 18.9 2.5 1,538 RAS Inferred 7.6 2.2 542 RAS Total Indicated and Inferred 26.5 2.4 2,080 CIT Inferred 1.2 1.5 59 SRX Indicated 2.2 0.8 54.7 SRX Inferred 2.9 1.0 90.5
Slide 20: Ore Reserve Estimate – High Conversions
Ore Reserve Estimate – High Conversions For personal use only PFS targeted 1.54Moz of Indicated resources and converted 81% (1.24Moz) to a Probable Reserve Area Proven Probable Total Bendigo-Ophir Maiden Ore Reserve Mt Au g/t Mt Au g/t Mt Au g/t Au koz RAS open pit - - 10.5 2.78 10.5 2.78 937 15Mt @