Marmota Limited · ASX:MEU
Marmota — Investor Presentation (February 2025)
49 slides from Marmota's investor presentation, February 2025
Slide 1: Investor Update
Aurora Tank Gawler Craton Investor Update February 2025 Unearthing South Australia’s Hidden Treasures ASX: MEU
Slide 2: Corporate Snapshot
CORPORATE SNAPSHOT Capital Structure Share Price (3 years to Feb 2025) Shares on Issue 1,178 m Options 0 Unlisted Options 11.5 m Market Cap (at $0.055 / share) ~ $ 64 m Cash (at 24 Feb 2025) $ 6.1m Debt $0 Top Shareholders Top 20 ~ 40% Top 50 ~ 53% Top 100 ~ 65% > Lower costs Board & Dr Colin Rose N
Slide 3: Three outstanding Projects
Three outstanding Projects GOLD AURORA TANK Aurora Tank exploration wrapping up. Commencing JORC, resource work, pit design, scoping study. URANIUM JUNCTION DAM As Aurora Tank wraps up, 2025 exploration focus shifts to grow our uranium resource and new titanium discovery. TITANIUM MUCKANIPPIE The ch
Slide 4: Timeline
Current GOLD URANIUM 2025 , COMMENCES : <a ) = eoenieee COMMENCES —— | V y, I | a _ od | I | dj | | | I COMPLETED Prone H T > | il v | I Mi ; ie) I Qi | Q2 | 4 | COMPLETED | | T j FIRST RESULTS DISCOVERY . COMMENCES ; V if i 4 FIRST RESULTS VUGEANTTEIE se __ae SEPT COMPLETED UPDATE
Slide 5: Gold
GOLD 24-month Gold Price (AUD) ASX:MEU 5
Slide 6: Aurora Tank Gold
Aurora Tank Gawler Craton Aurora Tank Gold ~ 100 g/t Au over 1m in 5 different zones
Slide 7: Plan View
Plan View Tank Aurora Plan view Location and grade of best intersections over 1m (circled) (Depth from surface) 2024 RC drilling highlights in purple boxes 7 Source: ASX:MEU 20 Jan 2025
Slide 8: November 2024 assay results
see ASX:MEU 26 Nov 2024, updated 20 Jan 2025 Plan View November 2024 assay results RC program designed to try close off open sections … instead found thick rich high-grade extensions at south Our biggest problem at Aurora Tank is …. we keep on finding more gold. (not a bad problem to have) 8
Slide 9: Aurora Tank drilling long-section
Aurora Tank drilling Schematic Long-section through NW flank 9
Slide 10: Schematic Section though Southern Zone showing new high-grade extensions
Schematic Section though Southern Zone showing new high-grade extensions 10
Slide 11: Aurora Tank Summary Highlights
Aurora Tank Summary Highlights 11
Slide 12: Close to surface, amenable to open-pit, mineralisation at depth
Continued Mineralisation at Depth Tests of gold grains (105 g/t) collected at 38m Close to Amenable to downhole on the NW flank surface low-cost open- are predominantly PRIMARY pit methods mineralisation. Primary gold grains sampled from Hole 104 (with fine-grained sulphosalts Suggested host mineral
Slide 13: Low-cost Low-capex Heap Leach Pathway
Low-cost Low-capex Heap Leach Pathway “ Marmota has been investigating the optimal pathway to production at Aurora Tank. Excellent column leach test gold recoveries (now being optimised) suggest that Aurora Tank is amenable to low-cost low-capex heap leach techniques. A heap leach means that Marmota
Slide 14: Marmota has water source at Aurora Tank
Marmota has water source at Aurora Tank 14
Slide 15: Camp: installed and upgraded
CAMP: INSTALLED + UPGRADED • multiple sleeping quarters • separate kitchen • separate management office • septic tank / waste management system • 10,000L self-bunded fuel tank • 90,000L capacity: water storage tanks • potable water treatment system 15
Slide 16: First Pit Wall Parameters
First Pit Wall Parameters 16
Slide 17: Transitioning from Discovery to Production
Transitioning from Discovery to Production Metallurgical, Infrastructure and Approvals ● Optimised metallurgical work (awaiting report) ● Camp running ● Environmental studies completed ● Ticking off the boxes for the remainder “ Everything's coming together for Aurora Tank: high-grade intersections,
Slide 18: Key Takeaways
Key Takeaways Aurora Tank Gawler Craton Aurora Tank is very fortunate to have: Outstanding High-grade gold intersections Mineralisation Close to surface Excellent Gold recoveries (metallurgy) Soft ground Primary mineralisation (potential to continue deeper) Company focusing on potential fo
Slide 19: Golden Moon JV
Aurora Tank Gawler Craton Golden Moon JV Setting up a pipeline of Gold projects to follow Aurora Tank
Slide 20: Golden Moon JV deposits map
“re Lic isl — CAMPFIRE BORE ~ GOLF BORE 109,000 oz Gold 119,000 oz Gold 46,000 oz Gold °° MAINWOOD~, 12,000 oz Gold et | “AURORA TANK » 100% MEU < MARMOTA Xe Gold Deposits ; Roads Marmota (Half Moon): 90% Title and Minerals* ° 25 5 10 Golden Moon JV Coombedown: 10% Title and Minerals L_._ 4 +t Proje
Slide 21: Golden Moon JV Deposits
Golden Moon JV Deposits ● Golden Moon JV together with partner Coombedown Resources ● Golden Moon deposits have minimal drilling compared to Aurora Tank and is not as advanced ● Have enormous potential for growth ● All reported resources are close to surface (within 100m from surface) ● Amenable to
Slide 22: MEU first ever drilling at Campfire Bore yields 107 g/t Au
MEU first ever drilling at Campfire Bore yields 107 g/t Au First MEU drilling at Campfire Bore (Stage 1) see ASX:MEU 29 Jan 2025 • 107 g/t gold from 57m to 58m below surface in Hole 24CBRC062 in an area previously undrilled • 5 intersections over 20 g/t gold • 13 intersections over 10 g/t gold inclu
Slide 23: Titanium
Titanium 23
Slide 24: Tenement and rail map
6,720,000 6,680,000 280,000 320,000 360,000 400,000 440,000 MARMOTA Kilometres. Projection: GDAS4 253, tk Gold Deposits Marmota: 100% Title Marmota: 90% Title Golden Moon JV Tenements Marmota: 100% of Gold*| WGCJV Tenements —— Railway Roads “Gold and associated minerals 6,640,000 — er - Pd = wanes =
Slide 25: Exceptional Titanium discovery Nov 2024
Exceptional Titanium discovery Nov 2024 See ASX:MEU 13 Nov 2024 Nov 2024: Marmota discovered exceptional thick rich titanium mineralisation at Muckanippie [ ASX:MEU 13 Nov 2024 ] from surface, in every discovery hole Exceptional TiO2 grades over 10% [ ASX:MEU 13 Nov 2024 ] Discovery is open in
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Slide 27: Cross-section through Outstanding Titanium Discovery Holes
Cross-section from surface through all 4 Outstanding Titanium Discovery Holes Hole 78 (NE) to Hole 81 (SW) [ ASX:MEU 14 Jan 2025 ] LHS: Heavy Mineral concentration (HMC %) RHS: TiO2 % of initial Drill assay 27
Slide 28: Outstanding Heavy Mineral %
Outstanding Heavy Mineral % ASX:MEU 14 Jan 2025 For source references, see ASX:MEU 14 Jan 2025 28
Slide 29: Palaeochannel-hosted Titanium Model
Palaeochannel-hosted Titanium Model ASX:MEU 7 Jan 2025 29
Slide 30: Palaeochannel interpretation over Titanium Discovery on EL 6166
Detail: Palaeochannel interpretation over Marmota’s Titanium Discovery on EL 6166 30
Slide 31: Maiden drill program: 91 follow-up holes
Maiden drill program: 91 follow-up holes ASX:MEU 10 Feb 2025 Drilling completed Samples now in lab 31
Slide 32: Flinders Mines 2009 heavy mineral sands intersections
Flinders Mines in 2009 intersected Heavy Mineral sands at C: 2 intervals were tested in 2 different holes and both returned remarkable mineral assemblages of 100% high value Leucoxene ASX:MEU 24 Feb 2025 MEU EL6679 32
Slide 33: Uranium
Uranium 33
Slide 34: Junction Dam tenement bookends Honeymoon palaeochannel
The Junction Dam uranium tenement (100% MEU) bookends both sides of the palaeochannel 34 of the Boss Energy Ltd (ASX:BOE market cap ~ $1.1 billion) Honeymoon uranium plant
Slide 35: Preparation to Restart MEU Uranium Program
PREPARATION TO RESTART MEU URANIUM PROGRAM 2014 MEU spent over A$8 million developing Junction Dam uranium*. 2024 MEU announced decision to re-commence exploration at Junction Dam, to substantially grow the Company’s uranium resource**. MEU announced engagement of uranium expert Mark Couzens to: ○ C
Slide 36: Area 1: Saffron
AREA 1: SAFFRON Existing inferred uranium resource 5.4 million pounds @ 557 ppm U3O8* Exploration stopped due to market downturn Potential to significantly increase resource Multiple high-priority Targets in a large untested area of interest 164 Drill holes currently planned The Junction Dam uranium
Slide 37: Area 1: Saffron
Area 1: Saffron Existing inferred uranium resource 5.4 million pounds @ 557 ppm U3O8 ASX:MEU 18 Nov 2011, 20 Feb 2012, 17 July 2013 Exploration stopped due to market downturn. Potential to significantly increase resource. Multiple high priority Targets Large untested area of interest 164
Slide 38: Saffron priority uranium targets
484,800 485,600 4 New Targets Saffron area <@ marwora SAFFRON PRIORITY URANIUM TARGETS, 5.489.600 Target 1 6,488,800 Zz DpPrority target t Farea of Interest — Cross Section A-A’ Peak Grade eU:Os ppm Interpreted @ >1000 Palaeochannel @ 500 - 1000 Palaeochannel > Flow Direction @ 300-500 9166 .308 [re
Slide 39: Schematic cross-section across the Saffron Uranium Deposit
Schematic cross-section with a width of 700 metres across the Saffron Uranium Deposit
Slide 40: Junction Dam Inferred Resource
460,000 Inferred Resource 10.7 Mibs @ 790 p «| marmorta Junction Dam Project Projection: GDA94 254 * Marmota: Uranium Deposits * Boss Energy: Uranium Deposits Marmota: 100% Title 470,000 490,000 oe a5 Marmota Junction Dam EL6530 | “.2 g i Jason’s South Bridget : : |e | ss ff Honeymoon cain Wl : : |g
Slide 41: Area 2: Bridget
Area 2: Bridget • Enormous potential to host a large uranium resource. • 2 distinct uranium systems, from 2 different geological ages ––– both coincident at Bridget. • HUGE 20m high stacked uranium roll-front similar to what is seen at the Four-Mile Uranium Deposits (Beverley Uranium Mine). • Beverl
Slide 42: Bridget project review findings
The Bridget project review has identified: • two separate Eyre Formation palaeochannels shown in the blue colour, as well as • two Namba Formation palaeochannels shown in the dark green colour . Priority targets have been identified from the stratigraphic interpretation completed. 114 Drillholes Pla
Slide 43: Junction Dam Re-start
Junction Dam Re-start “ More exciting than we could possibly have imagined. Completely changed our concept of the size and scope of uranium mineralisation at Junction Dam .” 43
Slide 44: Bridget Stratigraphic Model
Bridget Stratigraphic Model 44
Slide 45: Area 4: Jasons
Area 4: Jasons • Jasons is the highest-grade uranium resource that Boss has. • Just across the tenement boundary from MEU. • New model suggests Palaeochannel continues onto our side! • No drill holes in the area. Target palaeochannel essentially untested. • Potential for New High Grade deposit. ASX:
Slide 46: Untested priority uranium targets
466,000 468,000 470,000 472,000 474,000 6,506,000 Peak Grade (pU308)* PFN pU308 ppm 6,500,000 @ >1000 @ 500-1000 @ 300-500 @ 150-300 * 0-150 @ Anomalous Uranium Hole 580-49 A A A Peak Grade (eU308)* GAMMA eU308 ppm >1000 500 - 1000 300 - 500 150 - 300 0-150 LJ 8 3 ; ( F Palaeochannel asons”.@ South
Slide 47: Key Takeaway
Key Takeaway Junction Dam is one of the most exciting uranium deposits in SA, in the premier uranium jurisdiction of Australia Dramatic change in perception of the potential of Junction Dam Sector is booming, and Marmota is perfectly located Both Aurora Tank gold and Junction Dam uranium pro
Slide 48: Prior Marmota ASX releases referenced
This Presentation includes information based on prior Marmota ASX:MEU releases which may be referred to for more detail, including: 24 Feb 2025 10 Feb 2025 29 Jan 2025 16 Jan 2025 14 Jan 2025 7 Jan 2025 26 Nov 2024 13 Nov 2024 9 Oct 2024 30 Sept 2024 30 April 2024 9 April 2024 20 Nov2023 26 Oct 2023
Slide 49: Disclaimer
Disclaimer Disclaimer This presentation has been prepared by Marmota Limited (“MEU”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though MEU has no reason to bel