South Pacific Metals Corp. · TSXV:SPMC
South Pacific Metals — Investor Presentation (July 2026)
42 slides from South Pacific Metals's investor presentation, Jul 17, 2026
Slide 1: High-grade gold & copper in Papua New Guinea's premier mining belts
1 SOUTH PACIFIC METALS CORP. High-grade gold & copper in Papua New Guinea's premier mining belts Four projects bordering world-class mines and deposits · Drilling underway · 4.2 Moz AuEq NI 43-101 resource TSX-V: SPMC OTCQB: SPMEF FSE: 6J00 Osena · Anga · Kili Teke · May River Investor overview · Ju
Slide 2: Disclaimer
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 2 DISCLAIMER Legal Disclaimer: This presentation is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell, or subscribe for any securities in any jurisdiction in which such offe
Slide 3: A high-grade discovery story in a re-rating jurisdiction
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 3 A high-grade discovery story in a re-rating jurisdiction High grade, multiple projects Copper and gold across four projects — bordering or within kilometers of world-class, high-margin mines and deposits. Right place, right people, right time PNG is one of th
Slide 4: PNG dispelling the myths — the reality has changed
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 4 PNG dispelling the myths — the reality has changed Papua New Guinea hosts some of the largest, highest-margin mines on the planet, yet remains dramatically under-explored. After years of little investment, capital and operators have returned in force. Austral
Slide 5: Social & Environmental Licence
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 5 Social & Environmental Licence Strong community & government relations. In PNG, community and government relationships are the true licence to operate — and a durable competitive advantage. SPMC has received a letter from the Ontenu clan recognizing the Compa
Slide 6: Capital Structure
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 6 Capital Structure ~C$55M 14 ~45% Year-end Market Cap Institutions on register Strategically held Financed through 2026 As at July 10, 2026 Quality holders Aligned ownership Funded work program Major Shareholders SHARE PRICE C$0.80 (as at July 10, 2026) 45% 16
Slide 7: Experienced & Successful in Mineral Resource Development
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 7 EXPERIENCED & SUCCESSFUL IN MINERAL RESOURCE DEVELOPMENT Michael Murphy, MBA, M.Sc., ICD.D. Founder of Torex Gold (TXG-T), now a $4B+ market-cap gold producer. Michael spent 12 years on the Torex board of directors, after Executive Chairman participating in r
Slide 8: Technical Team | On-site Team
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 8 TECHNICAL TEAM | ON-SITE TEAM Oscar Clark M.Sc. A geologist with 18+ years international experience in remote operations. Oscar recently led a successful chromite investigation Project Manager in Madagascar and has significant experience in PNG having led two
Slide 9: Four projects in PNG's proven gold-copper districts
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 9 Four projects in PNG's proven gold-copper districts Osena 20 kms SW of K92's Kainantu mine · drilling underway At least 8 structures identified in 5km x 3km area; only drilled part of two structures. Drill hits to 5m at 12.84g/t AuEq, including 2m at 28.06g/t
Slide 10: Kainantu Gold District — Developed Mining District
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 10 Kainantu Gold District — Developed Mining District Immediately adjacent to K92 mining’s operation Excellent Neighborhood • Active gold mining in a well-endowed district Ability to Operate – Excellent Infrastructure • Highway access to both projects and • Nea
Slide 11: Kainantu Transfer Zone (KTZ)
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 11 Kainantu Transfer Zone (KTZ) • One of 5+ major transfer structures across PNG, hosting the world class deposits • Same transfer structure as K92 Mining's high-margin operation Ontenu • 5km x 3km system immediately SW of K92’s tenements • Extensive NW-SE stru
Slide 12: Osena Project Ontenu Prospect Target Area
OSENA PROJECT Ontenu Prospect 12 Target Area - Porphyry With HS Epithermal System Background image: MT apparent conductivity
Slide 13: Ontenu: three target zones, high-grade hits, more assays pending
OSENA PROJECT Ontenu Prospect 13 Ontenu: three target zones, high-grade hits, more assays pending Ontenu NE comprises three target zones — Megabe, Onki and Jorkol. We have tested two of at least eight known structures mapped over a ~5 km trend, and every hole is vectoring us toward higher grades. DR
Slide 14: New Discovery: Megabe Target Area
OSENA PROJECT Ontenu Prospect 14 New Discovery: Megabe Target Area Megabe is a first-hole discovery in a previously untested target between Jorkol and Onki. Gold hit on the maiden attempt. DRILL-HOLE HIGHLIGHTS MEGABE — ONED26-009 Most success to date · three mineralised zones in one hole • Zone 1 8
Slide 15: Megabe Drilling
OSENA PROJECT Ontenu Prospect 15 Megabe Drilling • Complete Targeting: • Equivalent shale host to K92 • Main Au-Cu-Ag-Zn structures of the Jorkol Breccias • Source of extensive alluvial artisanal gold workings in Otitapa Creek • Multiple structures yet to be tested ONED26-007 key intercept: • 12m @
Slide 16: Onki Fault Area
OSENA PROJECT Ontenu Prospect 16 Onki Fault Area • 2025 SPMC discovery; Three holes drilled to date ONED26-002, ONED26-003, and ONED26-006 Key intercepts: • 92 m @ 0.34 g/t Au from 67 m in ONED26-006, including 2 m @ 5.74 g/t Au, 1.49% Cu, 35 g/t Ag from 119 m (peak assay 9.92 g/t Au) • 99 m @ 0.23
Slide 17: Jorkol Fault Area
OSENA PROJECT Ontenu Prospect 17 Jorkol Fault Area • 2025 SPMC discovery; Five holes drilled to date ONED25-001, ONED26-001, ONED26-004, ONED26-005, and ONED26-008 (assays pending) Key Intercepts: • 4.5 m @ 0.77 g/t Au, 0.14% Cu, 19 g/t Ag from 203.5 m in ONED25-001, including a 0.5 m peak sample as
Slide 18: The Discovery Case: What the Data Shows
OSENA PROJECT Ontenu Prospect 18 The Discovery Case: What the Data Shows • Two mineralization styles: • Jorkol – metasediment hosted intermediate sulphidation veins (Kora-Judd analogues) • Onki – upper levels breccia in diorite hosted (Arakompa analogues) • Megabe – New structures hosted in metasedi
Slide 19: Ontenu Ongoing Drilling
OSENA PROJECT Ontenu Prospect 19 Ontenu Ongoing Drilling
Slide 20: Ontenu Central: Veins that look like K92's
OSENA PROJECT Ontenu Prospect 20 Ontenu Central: Veins that look like K92’s ADVANCING IN PARALLEL • High-grade, high-margin veins similar in style to what K92 is mining next door. • A ~2 km zoned alteration footprint with a porphyry signature sitting beneath the vein system. • Multiple untested targ
Slide 21: Ontenu comparison to K92 mining
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 21 Ontenu comparison to K92 mining K92 Mining: Kainantu Operations SPMC: Ontenu Prospect Area Discovery history • Irumafimpa discovered and mined by Barrick • Ontenu Central prospected by R GC and Barrick, little concerted • Kora, Judd, discovered by Barrick, e
Slide 22: Anga Project: Targeting K92-style lode-gold vein mineralisation
ANGA PROJECT NE Adjacent K92 Mining 22 Targeting K92-style lode- gold vein mineralisation Highlights • ~1.5 km from K92's processing plant — within trucking distance of infrastructure. • ~3 km along strike from the Arakompa–Maniape vein systems. • Soil anomalies to 1,080 ppb Au and 3,397 ppm Cu; str
Slide 23: Golkona to Golkona South
ANGA PROJECT Golkona Prospect 23 Golkona to Golkona South • Advanced geophysical modelling • Structures (demagnetized zones) linking to K92 deposits • Potential source intrusions • Upcoming mapping and sampling ahead of finalized drill targeting
Slide 24: Golkona to Golkona South
ANGA PROJECT Golkona Prospect 24 Golkona to Golkona South • Large gold-silver-copper anomalies 2.2 x 1.1km • Very high soil anomalies up to: • 1080ppb Au • 3397ppm Cu • 2160ppb Ag • Visible gold in stream sediment (PC) samples draining from target area with assays including: • 281.8 g/t Au • 79.1 g/
Slide 25: Kili Teke: 4.2 Moz AuEq NI 43-101 Mineral Resource
KILI TEKE PROJECT NI 43-101 Mineral Resource 25 A 4.2 Moz AuEq system, multiple targets peripheral to the porphyry A defined NI 43-101 inferred resource of 237 Mt @ 0.24 g/t Au, 0.34% Cu | ~40 km from the >30 Moz Porgera mine — with very high-grade Cu-Au skarns that extend well beyond the current re
Slide 26: Classic Porphyry Cu-Au System With Potential Porgera-like Gold Overprint
KILI TEKE PROJECT NI 43-101 Mineral Resource 26 Classic Porphyry Cu-Au System With Potential Porgera-like Gold Overprint • Located 40 km from the world-class Porgera Gold Mine, in a similar geological and structural setting • Road accessible and 100% owned • Acquired from Harmony Gold in 2023, who s
Slide 27: Kili Teke: Porphyry Cu-Au complex and target inventory
KILI TEKE PROJECT NI 43-101 Mineral Resource 27 Kili Teke: Porphyry Cu-Au complex and target inventory PORGERA ANALOGY • 40 km along strike from Porgera (>30 Moz gold deposit) • Au-Te-As association at RGA and Ieru — Porgera analogue • E-W and NE-SW striking structures — Porgera analogue • Same host
Slide 28: Multiple drill-ready targets proximal to resource
KILI TEKE PROJECT NI 43-101 Mineral Resource 28 Multiple drill-ready targets proximal to resource Kili Teke Cu-Au Project – Highly prospective targets proximal to resource Extensional Porphyry Targets • Resource trimmed at 400m below surface • High grade copper & gold noted at depth • Increase in Cu
Slide 29: Multiple drill-ready targets proximal to resource
KILI TEKE PROJECT NI 43-101 Mineral Resource 29 MULTIPLE DRILL-READY TARGETS PROXIMAL TO RESOURCE Kili Teke Cu-Au Project – Highly prospective targets proximal to resource Mineral Resource* • Inferred Resource of 237Mt @ 0.24g/t Au, 0.34% Cu (1.8Moz Au, 802Kt Cu = 4.2Moz AuEq**) Targets • Additional
Slide 30: Kili Teke Skarn Potential
KILI TEKE PROJECT NI 43-101 Mineral Resource 30 Kili Teke Skarn Potential • Four skarns mapped at surface adjoining the Central Porphyry Veined and mineralised diorite • Covering 26,250 m2 of combined area porphyry • 57 rock chips average 1.7% Cu with peak value of 27.5% Cu, 3.4 g/t Au, 37.6 g/t Ag,
Slide 31: Kili Teke Skarns
KILI TEKE PROJECT NI 43-101 Mineral Resource 31 Kili Teke Skarns Drilling in skarns: • 7.8 m @ 12.98 % Cu, 11.75 g/t Au within • 54 m @ 2.1 % Cu, 1.82 g/t Au, 3.87 g/t Ag (878m down hole) • Bornite-Chalcopyrite-Magnetite – excluded in resource model • Ground magnetics to identify skarn shoots in the
Slide 32: Kili Teke Ridge Gold Area
KILI TEKE PROJECT NI 43-101 Mineral Resource 32 Kili Teke Ridge Gold Area 2026 Proposed Work • Close spaced soils and mapping to pin down Alkali Au targets at Ieru and RGA • Ground magnetics for near surface skarn • 2026 drilling possible, following mapping and sampling Ieru – following up on 27m @
Slide 33: May River Project: District-Scale Cu-Au
MAY RIVER PROJECT District-Scale Cu-Au 33 25+ Years Exploration Data Consolidated & Evaluated Highlights • Adjacent to PanAust's Frieda River — one of the largest undeveloped Cu-Au projects globally. • Historic drilling: 19 m @ 11.47% Cu, 2.17 g/t Au; and 109 m @ 1.53 g/t Au. • High-grade copper-gol
Slide 34: Skygate Trend
MAY RIVER PROJECT District-Scale Cu-Au 34 Skygate Trend Porphyry-epithermal Cu-Au complex with 7 km strike • Similar structural and geological setting as giant Frieda River Cu-Au Porphyry-Epithermal Complex (15 km to the east) • Skygate comprises a cluster of four epithermal-porphyry Cu-Au prospects
Slide 35: Skiraisa Gold Breccia Deposit
MAY RIVER PROJECT District-Scale Cu-Au 35 Skiraisa Gold Bressia Deposit High-sulfidation vein, breccia gold deposit & porphyry system • 3D Geological and geophysical modelling and deposit evaluation complete • Skiraisa is a shallow expression of a mineralized porphyry system • Historical drilling (1
Slide 36: Ufuo Complex
MAY RIVER PROJECT District-Scale Cu-Au 36 Ufuo Complex Ufuo polymetallic high-grade massive sulfide complex • Ufuo polymetallic massive sulfide system comprises five bodies • Drilling returned ultra-high-grade Cu (+Zn, Pb, Au, Ag) near surface: • 010UF97: 19 m @ 11.47% Cu, 2.17g/t Au from 13m depth
Slide 37: Building Momentum Across The Portfolio
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 37 Building Momentum Across The Portfolio Work delivered across the portfolio, and what’s ahead in H2 2026 New Board & Management Teams in Country Social License Clear Path and Workstream 2024 leadership rebuild Geologists, field technicians in the field Dedica
Slide 38: South Pacific Metals Investment Summary
TSX.V: SPMC | FSE: 6J00 | OTCQB: SPMEF 38 South Pacific Metals Investment Summary High grade, multiple Right place, right Drilling now, Built to deliver projects people, right time sequenced news flow Discovery Emerging catalysts Active drilling into high-grade, K92-style systems with drill A stacke
Slide 39: High-grade Gold & Copper, Multiple Tier 1 Projects, Drilling Now, Catalysts Ahead.
39 SOUTH PACIFIC METALS CORP. High-grade Gold & Copper, Multiple Tier 1 Projects, Drilling Now, Catalysts Ahead. MICHAEL MURPHY Executive Chair info@southpacificmetals.ca TSX-V: SPMC OTCQB: SPMEF FSE: 6J00 1-604-260-0309
Slide 40: Ontenu NE Prospect Epithermal Au-Cu
OSENA PROJECT ONTENU NE PROSPECT 40 EPITHERMAL Au-Cu VEIN TARGETS • New discovery from reconnaissance soils to drilling in less than 9 months. • >5km x 3km footprint of mineralization of fully preserved system • Rocks up to 13.9 g/t Au, 645 g/t Ag, 21% Cu • Epithermal Au-Cu-Ag from surface • Porphyr
Slide 41: Ontenu NE Onki Fault Area
OSENA PROJECT ONTENU NE 41 ONKI FAULT AREA EPITHERMAL Au-Cu VEIN TARGETS • Two significant NNE-SSW striking mineralized structures and multiple splays • Gold in shear zone up 8.6 g/t Au • Copper in massive sulphide splay structures up to 21.1% Cu • Silver up to 310 g/t Ag • 19m wide target zone wher
Slide 42: Ontenu NE (Southern Area) Jorkol Fault Area
OSENA PROJECT ONTENU NE (SOUTHERN AREA) 42 JORKOL FAULT AREA EPITHERMAL Au-Cu VEIN TARGETS • Jorkol Breccia with 6m channel (3-4m true width) • averaging 2.1 g/t Au, 0.37% Cu, 211 g/t Ag • peak value 3.95 g/t, 1.56% Cu, 645 g/t Ag • Multiple other epithermal structures with rocks up to 3.68 g/t Au,
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