Ballard Mining Limited · ASX:BM1
Ballard Mining — Investor Presentation (September 2025)
24 slides from Ballard Mining's investor presentation, Sep 15, 2025
Slide 1: Unlocking the Potential of Mt Ida
For personal use only UNLOCKING THE POTENTIAL OF MT IDA Grow and Develop Corporate Presentation 1 5 th S e p t e m b e r 2 0 2 5 ASX:BM1 | ballardmining.com.au
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: You must read the following before continuing. FORWARD LOOKING STATEMENTS This presentation (“Presentation”) is dated 15th September 2025 and has been prepared by Ballard This Presentation may contain certain statements and projections provided by or on behalf of Ballard Mining
Slide 3: Disclaimer
DISCLAIMER INVESTMENT RISK A copy of the Prospectus is available at www.ballardmining.com.au and www.asx.com.au. Ballard confirms that the form and context in which the Competent Person's findings are presented have not An investment in Ballard is subject to investment and other known and unknown ri
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS GROWTH For personal use only 26km highly 130,000 metre drill Well funded: $30M IPO prospective program underway with proceeds underexplored New Discovery at targeting growth via shear zones Neptune2 the drill bit DEVELOPMENT MRE of 1.1Moz @ 3.3g/t1 Baldock fully permitted Free-
Slide 5: Location
LOCATION LOCATION LOCATION! For personal use only Heart of the WA goldfields, 4 x processing plants within c.100km Refer to the Ballard IPO Prospectus lodged with the ASIC and dated 30 May 2025 (as amended by the Supplementary 5 Corporate Presentation September 2025 Prospectus lodged with ASIC and d
Slide 6: Grow and Develop Strategy
GROW AND DEVELOP STRATEGY Parallel Workstreams targeting a 10 year plan FY26 FY27 FY28 For personal use only Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Sep Q Dec Q Mar Q Jun Q Baldock Development (930koz @ 4.1 g/t1) INFILL & EXTENSIONAL DRILLING GEOTECH & MET PROCESS PLANT ENGINEERING BALDOCK M
Slide 7: Board Composition
BOARD COMPOSITION Mature Board. Proven Explorers, Developers and Operators For personal use only SIMON LILL PAUL BRENNAN TIM MANNERS STUART MATHEWS JAMES CROSER LOREN FALCONER Non Executive Chair Managing Director Finance Director Non Executive Director Non Executive Director Company Secretary Mr Li
Slide 8: Regional Exploration Potential
REGIONAL EXPLORATION POTENTIAL Initial 50,000m exploration drill program underway For personal use only • 26km of continuous greenstone belt folded around the Copperfield Granite • Prospective shear zones and host rocks on either side: • 13km Baldock Thrust • 13km Ballard Fault • Orogenic, shear hos
Slide 9: Ballard Fault Exploration: New Discovery at Neptune
BALLARD FAULT EXPLORATION New Discovery at Neptune1 For personal use only • Frist Pass Phase 1 drill program completed at Neptune • Mineralisation intersected in every hole Neptune Prospect historic workings • Awaiting assays from 350m 5 Prospects to the North of Neptune • Phase 1 drilling will be u
Slide 10: Ballard Fault Exploration
BALLARD FAULT EXPLORATION For personal use only 15,000m planned drill program • Geological units on the Ballard Fault are identical to Baldock Neptune Prospect Thrust historic workings 350m • Limited or no drilling at some Prospects • Recent rock chip results has confirmed historical data as well as
Slide 11: Baldock Thrust Exploration
BALDOCK THRUST EXPLORATION 35,000m planned drill program • Over 7km of strike to the For personal use only north of Baldock has an average drill depth of just 43 metres despite high- grade historical intercepts • 671 historic drill holes over last ~20 years, mostly RAB drilling Refer to the Ballard
Slide 12: Baldock Development – 930koz @ 4.1g/t
BALDOCK DEVELOPMENT – 930koz @ 4.1g/t 80,000m planned drill program underway – infill and extensional Baldock MRE - Ounces Per Vertical Metre For personal use only - 1,000 2,000 3,000 4,000 Top 300m averages ~2,500 oz Per vertical metre, function of drilling Most recent drill program added 256,000oz
Slide 13: Baldock – Infill Results
BALDOCK – Infill Results1 Increasing Resource confidence for Maiden Reserve targeted mid CY2026 • 4m @ 32 g/t Au from • 7m @ 16.8 g/t Au For personal use only 232m in DFS066B from 246m in DFS058 • 3m @ 17.7 g/t Au • 4m @ 12g/t Au from 49m in DFS062 from 182m in DFS063 Cautionary Statement: Visual es
Slide 14: Capital Structure
CAPITAL STRUCTURE Well funded for significant resource and exploration drilling OWNERSHIP STRUCTURE For personal use only BALLARD MINING LIMITED Key Metric Delta (2 year escrow) 46.0%2 Shares On Issue 340M Hancock Prospecting 6.2%3 Share Price (close of market 12/9/25) $0.43 Mineral Resources 5.6%3
Slide 15: Peer Comparison – ASX Gold Developers
PEER COMPARISON – ASX GOLD DEVELOPERS Ballard’s ASX-listed gold developer peers trade at an average EV/Contained Resource of $177/oz, with higher-grade (+ 2.0g/t) peers trading at an average of $218/oz For personal use only $300/oz 5.0g/t $263/oz 4.3g/t 4.5g/t Select ASX Listed Gold $250/oz Develope
Slide 16: Why Invest in Ballard Mining?
WHY INVEST IN BALLARD MINING? For personal use only A launch pad of 1.1Moz1 high-grade MRE, including 930koz at 4.1 g/t at Baldock, with 26km underexplored prospective greenstone belts. 130,000m drill program underway Mid 2026 target of initial ~6 year mine life at Baldock underpinned by Ore Reserve
Slide 17: Appendices
For personal use only APPENDICES 17 Corporate Presentation September 2025 ASX:BM1 | ballardmining.com.au
Slide 18: A Mineral Resource Estimate – April 2025
A MINERAL RESOURCE ESTIMATE – APRIL 20251 Indicated Inferred Total For personal use only Cut off Deposit Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000s) g/t Au (000s) (000s) g/t Au (000s) (000s) g/t Au (000s) Baldock 2,600 4.5 365 1,570 3.6 200 4,120 4.2 563 Kestrel - - - 940 1.6
Slide 19: B Mineral Rights Deed
B MINERAL RIGHTS DEED • Mineral Rights Deed1 executed between Mt Ida Au Pty Ltd, For personal use only Mt Ida Lithium Pty Ltd, Ballard Mining Limited and Delta Lithium Limited • Ballard to issue 220M shares to Delta (or its nominee) in consideration of the Gold Asset • Mining and Exploration: Area B
Slide 20: B Mineral Rights Deed (Cont'd)
B MINERAL RIGHTS DEED (CONT’D) • Gold and lithium are separate For personal use only geological units and can be mined separately (no sterilisation) • Any capital costs for mine development for Gold operations can be utilised and shared with any potential lithium operation • Cooperation governed by
Slide 21: B Mineral Rights Deed (Cont'd)
B MINERAL RIGHTS DEED (CONT’D) Scenario Resolution Method For personal use only Conflicting activities Parties must discuss and minimise interference. Concurrent mining Form Joint Operating Committee (JORC), decide on Dominant Mine, and coordinate operations. Shared costs Shared proportionally based
Slide 22: C Peer Comparison – Source Data
C PEER COMPARISON – SOURCE DATA Market Enterprise For personal use only Peer Cash Debt Measured Resource Indicated Resource Inferred Resource Total Resource Sources Cap Value (EV) Tonnes Grade Cont. Tonnes Grade Cont. Tonnes Grade Cont. Tonnes Grade Cont. ($m)1 ($m) ($m) ($m) Financials Resources (M
Slide 23: D Timeline: A History of High-Grade Gold
1890 - 1960 D TIMELINE A HISTORY OF HIGH-GRADE GOLD 2021 2023 2025 • Timoni Mine • Red Dirt Metals purchases Mt Ida • Maiden Gold MRE at Mt Ida • Gold MRE Update For personal use only Production from Ora Banda Ltd with Gold 3.1Mt @ 4.1g/t Au for 412koz3 10.3Mt @ 3.3g/t Au for 1,102koz5 historic esti
Slide 24: For more information contact
For personal use only For more information contact: info@ballardmining.com.au ASX:BM1 | ballardmining.com.au 24 Corporate Presentation July 2025 ASX:BM1 | ballardmining.com.au
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