Sunstone Metals Ltd · ASX:STM
Sunstone Metals — Investor Presentation (October 2025)
26 slides from Sunstone Metals's investor presentation, Oct 22, 2025
Slide 1: Defining Multi Decade Gold-Copper Projects
Defining Multi Decade Gold-Copper Projects Mr Patrick Duffy, MD & CEO Investor Presentation 22 October 2025 sunstonemetals.com.au ASX: STM
Slide 2: Disclaimer
Disclaimer DISCLAIMER FORWARD-LOOKING STATEMENTS To the maximum extent permitted by law, no representation, warranty or This Presentation includes certain statements that may be deemed undertaking, express or implied, is made and, to the maximum extent “forward-looking statements”. All statements in
Slide 3: Our Strategy
We own large, long-life, We have the necessary low-AISC assets skillsets to execute Tier 1 projects High Quality Our Strategy Gold-Copper Assets With the Right People Crafting our advantage Prioritise In the Right value Commodities realisation Resource growth, scalable development, Copper Gold fundi
Slide 4: Our Flagship Assets
Our Flagship Assets El Palmar Delivering a century-scale asset • Major bulk scale, low-cost gold-copper deposit in Northern Ecuador • 17,799m of drilling defines orebody extending over 1,750m deep • 1.2Moz AuEq2 Maiden JORC Resource1 from top 450m of the T1 target • 15M – 45Moz AuEq3 Exploration Tar
Slide 5: Our Experienced Team
Our Experienced Team BOARD OF DIRECTORS MANAGEMENT TEAM Patrick Duffy Dr Bruce Rohrlach Managing Director & CEO General Manager - Exploration Ex-Red 5, Glencore and Xstrata, Mr Duffy brings international Ex-WMC, Intrepid and SolGold, Dr Rohrlach has been part of leadership and capital markets experi
Slide 6: Ecuador – Rich in Gold and Copper
Ecuador – Rich in Gold and Copper Apr-25 President Noboa re-elected for a four-year term • President actively encouraging responsible mining • Single national mining department Forms part of the worlds most endowed copper gold belt • 2 world-class operating mines – Fruta del Norte, Mirador • All maj
Slide 7: Ecuador – Our Cost Advantage
Ecuador – Our Cost Advantage Ecuador has two world-class, lowest cost-quartile operating mines Comparable energy prices (Dec 2023)1 $0.25 $1.50 • Fruta del Norte Gold Mine (Lundin Gold) $1.17 $0.20 $1.06 $1.01 $1.20 • Mirador Copper Mine (Chinese-owned) US$/litre US$/kWh $0.15 $0.90 Low mining input
Slide 8: Our Commodity Advantage
Our Commodity Advantage Record high AUD gold prices – up >60% in 2025 Strategic demand for tier-1 scale copper assets Regional conflicts, trade restrictions, shift from USD New copper supply coming from difficult jurisdictions Inflation subsiding, USD rate cuts are imminent Net Zero Transiti
Slide 9: Bramaderos & Limon
Bramaderos & Limon Open pit and high-grade multi-decade development opportunities Located in an ideal mining location sunstonemetals.com.au ASX: STM 9 99 ASX:STM
Slide 10: Bramaderos: The Ideal Project
Bramaderos: The Ideal Project Bramaderos Project, Au-Equivalents (Moz’s) 14 2 12 0.9 - 1.7 Potential to deliver MRE 10 growth by converting a portion of the 8 Exploration Target through further drilling 3.3 - 8.6 3 6 4 2 1 Brama Alba, 2.7 0 Mineral Resource Exploration target New discovery New disco
Slide 11: Bramaderos: Our Two Areas of Focus
Bramaderos: Our Two Areas of Focus Brama-Alba: 1.6km long Brama- mineralised porphyry system Alba Limon; just behind hill • Outcropping gold-copper-silver • MRE undertaken by Tier 1 consultants CSA • Attractive mining metrics Very low strip ratio Higher grade domains close to surface • Significa
Slide 12: Bramaderos: Unlocking Regional-Scale
Bramaderos: Unlocking Regional-Scale High-tonnage, near-surface Mineral Resource at Brama-Alba with depth extensions and nearby targets ready for drilling • The Bramaderos cluster of gold-copper mineralised bodies at surface now covers an area of 2km x 1.8km Hills in background • Potential for a ver
Slide 13: Limon: A High-Grade Discovery
Limon: A High-Grade Discovery Hills in background 1: ~17k m’s of drilling to-date (12k m’s in the Limon epithermal) 13 ASX:STM
Slide 14: Bramaderos: Development Optionality
Bramaderos: Development Optionality Bramaderos is a world-class gold and copper discovery with multiple pathways to establishing a large 10M+oz AuEq mining centre in southern Ecuador Stage 1: Limon to provide the Establish Limon revenue and balance sheet epithermal as a higher- to fund larger gold-c
Slide 15: El Palmar
El Palmar Defining a bulk-scale, low-cost Gold-Copper Tier 1 deposit sunstonemetals.com.au ASX: STM 15 15 15 ASX:STM
Slide 16: El Palmar: Surrounded by Giants
El Palmar: Surrounded by Giants Highly prospective mineralised district related to the Toachi Fault Zone Tier 1 regional deposits • 2.7Bt Alpala copper-gold porphyry deposit (0.53% CuEq) at Cascabel • 0.53Bt Tandayama-America copper-gold porphyry deposit (0.36% CuEq) at Cascabel • 1Bt Llurimagua cop
Slide 17: El Palmar: Uncovering the next Giant
El Palmar: Uncovering the next Giant Significant gold-copper deposit with mineralisation extending beyond 1,750m deep • Drilling totaling 17,699m completed to date • Three targets defined, with T2 and T3 both extending at depth beyond 1,750m • Deep drilling at T3 delivers results such as 251m @ 0.56
Slide 18: El Palmar: True Tier-1 Scale
El Palmar: True Tier-1 Scale El Palmar strategic advantage to commence as an Open Pit • Same scale cross-section comparison with the 3Bt Alpala deposit at Cascabel • Depth to top of the main Alpala orebody is ~700m Immense potential for El Palmar to continue to grow High tonnage, low-cost potential
Slide 19: Significant room for value appreciation
Significant room for value appreciation ASX STM Strategic options being pursued to unlock Shares on Issue 6,341M latent value: Market Capitalisation A$145.8M1 1. JV asset partnership(s) Cash and Equities A$2.7M2 2. Strategic investment (in Sunstone) Enterprise value A$143.1M 3. Corporate opportuniti
Slide 20: Call Email Web
CALL EMAIL WEB ASX:STM +61 3 7044 2627 info@sunstonemetals.com.au sunstonemetals.com.au
Slide 21: Our Community Focus
Our Community Focus Sunstone appreciates the strong community support that it has at its projects and takes its environmental, social and governance issues very seriously. Inaugural Sunstone Sustainability Report released 27 November 2023 • Significant environmental monitoring programs across all pr
Slide 22: Resource and Overview
Resource and Overview Sunstone has an advanced portfolio of exploration projects in Ecuador. The portfolio comprises: 1. The Bramaderos Gold-Copper Project Sunstone owns an 87.5% interest, and SolGold Canada, Inc. (formerly Cornerstone Capital Resources) a subsidiary of SolGold, holding 12.5% (loan
Slide 23: Resource and Overview
Resource and Overview Sunstone has an advanced portfolio of exploration projects in Ecuador. The portfolio comprises: 2. The El Palmar Gold-Copper Project Sunstone holds 74.5% of the highly prospective 800ha El Palmar gold-copper porphyry project in Ecuador. Sunstone can acquire 100% through a Stage
Slide 24: Competent Person Statement
Competent Person Statement Competent Persons Statement - Bramaderos The information in this report that relates to Mineral Resources is based on information compiled by Mr Aaron Meakin. Mr Aaron Meakin is a full-time employee of CSA Global Pty Ltd and is a Member and Chartered Professional of the Au
Slide 25: Information on Exploration Target
Information on Exploration Target Bramaderos areas of somewhat coincident gold, silver, zinc, lead, copper, tellurium and arsenic. Target areas have also been The Bramaderos porphyry Exploration Target within the Bramaderos concession is estimated from 3 areas – the strengthened using alteration min
Slide 26: Peer Comparison Data (page 19)
Peer Comparison Data (page 19) * Share price at close of trading 20 October 2025 26 ASX:STM
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