Cora Gold Ltd. · LSE:CORA
Cora Gold — Investor Presentation (September 2026)
27 slides from Cora Gold's investor presentation, Sep 25, 2026
Slide 1: West African Gold Developer
C O R P O R AT E P R E S E N TAT I O N West African Gold Developer Q3 2026 CORPORATE PRESENTATION | Q3 2026
Slide 2: Disclaimer
Disclaimer The information being released by the Cora Gold Limited (the "Company") today and attached to the RNS (the “Materials”) are being released to provide additional information with respect to the business of the Company. The Materials are not intended to form, and shall not be treated as, th
Slide 3: Snapshot
Snapshot Portfolio of prospective gold assets within two known gold belts in Mali and Senegal and located amongst PROJECT PORTFOLIO multiple operational mines. AT A GLANCE MADINA FOULBÉ, EAST SENEGAL AIM listed company advancing proven gold deposits including developing the fully funded Sanankoro Go
Slide 4: Sanankoro Gold Project
Sanankoro Gold Project Fully funded and advancing to mine construction • Located in Yanfolila Belt, Southern Mali • 1.5Mtpa conventional CIL and gravity processing plant from an open pit operation with low strip ratio oxide ore • Delivers post tax and royalties (US$3,500 gold price, Sept 20251): • 9
Slide 5: Fully Funded to Production
Fully Funded to Production Binding $120m gold stream signed in April 2026 Binding US$120 million gold stream agreed with Eagle Eye Asset Holdings (‘EEA’), the Company’s 29.9% shareholder Combined with existing equity funding following £15.7m fundraise completed in March 2026, the Stream fully funds
Slide 6: Sanankoro Strategy and Timeline
Sanankoro Strategy and Timeline 1 2 3 Complete permitting as quickly Start delivering strong free Drive organic growth from infill as possible to commence cash flow (FCF) from low strip drilling existing Inferred construction at Sanankoro for a ratio oxide ounces at resources and targeting conventio
Slide 7: Construction Readiness
Construction Readiness FEED and early works progressing in parallel to accelerate path to production FEED Early works FEED completion on target for Q4 2026 TSF: 174ha land compensation completed 3D plant modelling completed Geotechnical process plant and power station work completed Detailed enginee
Slide 8: Detailed Capex Flow Sheet
Detailed Capex Flow Sheet Conventional gravity and CIL Capital items US$m circuit optimised for oxide ore Civil works 6.9 Earth works 3.8 Machinery and equipment 47.6 Infrastructure 1.4 Transport 7.5 First fills 0.9 Mine camp 2.8 Project management 10.3 Insurance and guarantees 0.8 Tailings storage
Slide 9: Opex Production Profile
Opex Production Profile koz • Design includes a hybrid power option incorporating 80 100% solar power, delivering savings in both operating costs 70 90% and carbon emissions by reducing consumption of 40 80% ` million litres diesel over LOM 60 70% • Contractor mining planned from the start of operat
Slide 10: Updated Ore Reserves
Updated Ore Reserves Announced September 2025 • Updated Probable Reserve of 531 koz Au @ 1.13 g/t Au • Based on US$2,200/oz Au • 26% increase on 2022 Maiden Reserve • Low Strip Ratio of 4.9:1 ` • Significant upside remains: • Pit optimised Inferred Resources indicate an additional 173 koz gold could
Slide 11: Mineral Resource Estimate
Mineral Resource Estimate 2024 MINERAL RESOURCE ESTIMATE (announced January 2025) Updated JORC compliant MRE completed by Environmental Oxidation Tonnage Grade Contained metal Classification Resources Management Limited (ERM, formerly CSA Global) Zone (Mt) (g/t Au) (koz Au) Oxide 15 1.12 520 • 26% i
Slide 12: 2026 Drilling Campaign
Best intercepts from Zone B included: 2026 Drilling Campaign • 22m @ 2.24 g/t gold ('Au') from 12m in hole SC0712 • 34m @ 6.78 g/t Au from 117m in hole SC0716 Major drilling programme designed to significantly expand • Includes 9m @ 23.91 g/t Au from 128m MRE and long-term production potential. • 54
Slide 13: Exploration Strategy
Exploration Strategy HOW WILL WE DELIVER? Rank and Prioritise: Drill target advanced and high Aiming to grow the mineral resource to +2Moz 1 value exploration targets 2 Pipeline: Develop pipeline of targets Geophysics: Collect, process and interpret Magnetics 3 and induced Polarisation geophysical d
Slide 14: Extensive Operational Experience
Extensive Operational With a strong gold price, now is an opportune time to be bringing a high Experience value, low cost, oxide only gold project such as Sanankoro into production. An established team with extensive experience - BERT MONRO, CEO and proven success operating in West Africa EXPERIENCE
Slide 15: Mine Permitting
Mine Permitting • Cora has been awarded its Environmental Permit, but only following the partial lifting of the government's permitting moratorium (November 2022 - March 2025) has the Company been able to re-engage with the authorities regarding the mining permit for Sanankoro • Mali’s mining admini
Slide 16: Madina Foulbé
Madina Foulbé Potential for a large scale, in-situ gold mineralisation • Located within the Mako Gold Belt in East Senegal close to several Tier 1 gold deposits • Permit is cut by 2 regional N-S trending shear zones • Region serviced by good infrastructure within a mining friendly jurisdiction • Wit
Slide 17: ESG
Communities have welcomed us as a ESG development partner since 2017 PERMITTING • Environmental and Social Impact Assessment (ESIA) submitted July 2022 to the Government of Mali • Environmental Permit awarded October 2022, recognising Cora’s high environmental standards SOLAR AND HYBRID POWER • Sana
Slide 18: Management
Management BERT MONRO CEO and Director +16 years’ experience within the natural resources industry Previously worked for HUM advancing its +6Moz of gold resources in West Africa and operational gold mine in Mali CRAIG BANFIELD LOURENS STEENEKAMP MURRAY PATERSON SIAKA KOUMARE CFO and Company Secretar
Slide 19: Investment Case
Investment Case New Producer Share appreciation leading to production New producer outperformance: share appreciation leading to production Recognised Team Broad range of relevant experience Upside Significant further resources Strong Support Diverse investor base including high profile resource inv
Slide 20: Corporate
Corporate 24 September 2026 SIGNIFICANT SHAREHOLDERS Market Cap £81m Share Price 10.75p Eagle Eye Asset Holdings Brookstone Business Inc (Quirk Family) 52 Week Range 4.50-13.0p Lord Farmer Research Price Target1 27p / 25.8p The Marlborough Trust Maggianda Foundation (Jeremy Block) SHARE PRICE PERFOR
Slide 21: Appendix
Appendix 21 CORPORATE PRESENTATION | Q3 2026
Slide 22: Non-Executive Directors
Non-Executive Directors Track record of discovery and development in Africa ADAM DAVIDSON PAUL QUIRK ED BOWIE ANDREW CHUBB ARYANN GUPTA Non Exec Chair NED NED NED NED Extensive experience in the +15 years’ operational +24 years’ experience within Since 2014, Andrew has Head of Mergers & Acquisitions
Slide 23: Operations in Mali
Operations in Mali WEST AFRICA IS THE FASTEST GROWING AND LARGEST GOLD PRODUCING REGION, RANKING 1ST FOR DISCOVERIES OVER THE PAST DECADE Third largest gold producing country in Africa +80% • Highly developed and active mining culture production increase in West Africa over the last decade • Major i
Slide 24: Reserves
Reserves September 2025 Mineral Reserve Tonnage Grade Contained Area Oxidation Zone Classification (Mt) (g/t Au) Metal(koz Au) Oxide 3.69 1.17 139 Zone A Probable Transitional 0.03 1.64 2 Oxide 1.49 0.83 40 Zone B North Probable Transitional 0.07 1.35 3 Oxide 0.91 0.80 23 Zone B Central Probable Tra
Slide 25: Saprolite Soft Rock
Saprolite Soft Rock SIGUIRI - ANGLOGOLD ASHANTI (GUINEA) SANANKORO – CORA (MALI) PEER GROUP CHARACTERISTICS LOWER UNIT COSTS BENEFITS • No soft rock peers in London • Heavily weathered rock • Mining cost lower – no drill and • Reduced mining dilution • Nampala – soft rock and • Deep weathering profi
Slide 26: Oxide Ore
Oxide Ore Material at Sanankoro does not become hard rock until depths of +120m 0m 7m 15m 24m 42m 50m 59m 67m 70m 75m 80m 90m 26 CORPORATE PRESENTATION | Q3 2026
Slide 27: coragold.com info@coragold.com
coragold.com info@coragold.com www.linkedin.com/company/cora-gold/ @cora_gold 27 CORPORATE PRESENTATION | Q3 2026