Australian Mines Limited · ASX:AUZ
Australian Mines — Investor Presentation (July 2026)
26 slides from Australian Mines's investor presentation, July 2026
Slide 1: Flemington: Australian High-Grade Sc Development Asset; Boa Vista Gold
Flemington: Australian High-Grade Sc Development Asset Boa Vista: Unlocking a New Tier-1 Gold Frontier in Brazil Investor Presentation. ASX: AUZ | July 2026 australianmines.com.au
Slide 2: Disclaimer & Important Notices
Disclaimer & Important Notices Important information: Australian Mines Limited (ASX: AUZ) (the “Company”) is the issuer of this presentation. This presentation is not a disclosure document for the purposes of Chapter 6D of the Corporations Act 2001 (Cth) (“Corporations Act”) and does not purport to
Slide 3: Two Projects: Scandium and Gold
Two Projects: Scandium and Gold Flemington Boa Vista Sits at the Heart of NSW Scandium Hub AUZ is First ASX Player in Tapajós, Brazil Highest Grade Pure-Play Sc Resource Proven Tier 1 Gold Frontier, 30+ Moz History Potential Long-life Scalable Asset Multiple Moz+ Discoveries Same Sc intrusive as Sye
Slide 4: Amongst the Highest-Grade Scandium Deposits Globally
Amongst the Highest-Grade Scandium Deposits Globally located in NSW Australia Undervalued in a Class of Only Three High-Grade Pure-Play Sc Projects
Slide 5: Scandium is at an Inflection Point
Scandium is at an Inflection Point Demand being met by Secondary Supply (By-Product/Tailings) Places Constraints on the Limited Pure-Play Prospects Scandium Oxide Supply Concentration Apr 2025: China Imposed Export Controls Global Supply Share RoW China ~85% ~15% No Primary Scandium Mine Operates in
Slide 6: Flemington is at the Heart of Scandium
Flemington is at the Heart of Scandium Only 3 Projects Meet Grade 300+ ppm Flemington has the highest grade of these three projects Presence of By-Product Supply places Grade Constraints Burra (RIO) 35.6Mt at 405ppm Pure-Play Prospects need >300ppm to be cost competitive On a Resources basis Fleming
Slide 7: Flemington's Geology Favours Operations
Flemington’s Geology Favours Operations High-Grade Shallow Deposit amenable to Free Dig and Hydromet Processing 90% within 50m of surface Covered by <1m of clay and soil Three shallow free dig open pits, no drill and blast High-Grade; 98% of the Resource in M&I 6.3Mt @ 446ppm Sc (300ppm cutoff) Conv
Slide 8: Scandium Oxide Production Target
Flemington – Commercial Scale Supported by Resource Flemington has sufficient resources for long-term high-grade production 120 Production Target* Grade (573 700 Production target (tpa Sc₂O₃) ppm initial 15 Years, 556 ppm 28-yr Mine Life on 6.3 Mt @ 446 ppm Resource over 28 Years), not Reserves 644
Slide 9: Scoping Study Validates Flemington's Potential
Scoping Study Validates Flemington’s Potential Geology Expected to Drive Simple, High Margin Operations Low Project Development Capex, US$125m Sensitivity Case US$ 3,0 0 0 /k g Sc 2 O 3 for Long Term, Stable Sc 2 O 3 Production 60 tpa, 28 yrs US$860m, 74% at Low Expected Operating Costs, US$561/kg C
Slide 10: Flemington vs Pure-Play Sc Projects
Flemington vs Pure-Play Sc Projects High-grade resource, competitive peer positioning. Flemington (AUZ) Syerston (SRL) Burra (RIO) Nyngan (SCY) DFS, 2016 DFS, 2018 Stage, Year Scoping, 2026 Feasibility, 2026 Undeveloped Undeveloped Update Pending Capex, US$m 125 120 48.1# 87.1# Production Target, t/
Slide 11: Flemington - Peer Market Capitalisation Comparison
Flemington - Peer Market Capitalisation Comparison Adjacent to SRL, Comparable Grade and Scale; 70x gap Demonstrates a significant market capitalisation disparity SRL Lockheed Offtake AUZ Option Feasibility Study + US EXIM Options Flemington 70× Gap Market Cap, A$m log MRE +98% At 2 Stages Behind Sy
Slide 12: AUZ is Focused on Closing the Gap
AUZ is Focused on Closing the Gap Upcoming +70% Increase in MRE to Drilling Results Flemington PFS Offtakes 6.3 Mt @ 446 ppm Scoping Study On-going On-going On-going JAN 2025 APRIL 2026 NOW Q4 2025 Extended Drilling recommenced, High-Grade results AUZ | Australian Mines Limited Flemington Scandium P
Slide 13: District Scale Gold Earn In a Proven Tier 1 Frontier
Photo used for illustrative purposes only and is not an estimate of mineralisation District Scale Gold Earn In a Proven Tier 1 Frontier Boa Vista 8.47 Mt @ 1.23 g/t Au for approx. 336 koz is a foreign/historical estimate and is not reported in accordance with the JORC Code (2012). A Competent Person
Slide 14: Recent Drilling has Intersected Thick Zones of Mineralisation
Recent Drilling has Intersected Thick Zones of Mineralisation VGADD0010 VGADD0006 VGADD0005 VGADD0001 VGADD0002 VGADD0003 142.6m @ 1.37 g/t 52m @ 0.69 g/t 25m @ 0.87 g/t 144m @ 0.62 g/t 120m @ 1.34 g/t 82.93m @ 0.96 g/t 59m @ 0.29 g/t 0 1m @ 6.78 g/t 1m @ 3.09 g/t 2m @ 7.69 g/t 50 2m @ 6.11 g/t 100
Slide 15: Recent Drilling has Intersected Thick Zones of Mineralisation
Recent Drilling has Intersected Thick Zones of Mineralisation AUZ Drilling > 20 gram-metres Au Historical Drilling > 20 gram-metres Au Grade (Au Au Gram- Grade (Au Au Gram- Hole Name From Meters Hole Name From Metres g/t) metres g/t) metres VGADD0001 106 144 0.62 89 VGDD001 Surface 102.3 1.18 121 Li
Slide 16: Primary Target VG1 is Large and Open in All Directions
Primary Target VG1 is Large and Open in All Directions Primary Target VG1 600m Strike, 85m Wide Soil anomaly +2 km X 350 m wide Coarse visible gold in outcrops Wide near surface gold intersections Underexplored, Open in All Directions 15 Historical holes plus 2800m in 25/26 Drill-tested to 303.6 m,
Slide 17: Geology similar to West Africa, and a Proven Mining Jurisdiction
Geology similar to West Africa, and a Proven Mining Jurisdiction Tier 1, Historical Gold Jurisdiction 30+ Moz Au produced historically Multiple active mines and developers Tocantinzinho TSX:GMIN, ~A$10.91Bn Cuiu Cuiu 1.94 Moz (MI&I) TSXV:CBR, ~A$315m Palito 1.19 Moz (I&I) AIM:SRB, ~A$448m 546 koz (M
Slide 18: Baixão Target - High-priority untested target
Baixão Target - High-priority untested target ~2 km southwest of VG1 Up to 31.0 g/t Au High-grade rock-chip/grab sampling highlights potential beyond VG1. Large Coherent Footprint Interpreted target footprint of approximately 1.8 km x 1 km. Multiple Exploration Vectors Coincident >50 ppb Au soil-pan
Slide 19: Zé do Leicha Target - Large NE target
Zé do Leicha Target - Large NE target, Historical Workings & Untested Geometry ~1.5 km Northeast of VG1 Target sits within the broader Boa Vista mineralised system ~2.8 km x ~1.5 km Target Area Defined by >50 ppb Au soil-panning anomaly and interpreted structural corridors Up to 5.6 g/t Au Grab samp
Slide 20: Almir Target - Large Historical Mining centre
Almir Target - Large Historical Mining centre with Under-tested NW–SE Structures ~3 km x ~1.5 km Target Area Defined by >50 ppb Au soil-panning anomaly and interpreted NW–SE structures comparable to VG1 ~400 m x ~100 m Historical Open Pit Water-filled open pit indicates substantial historical artisa
Slide 21: Jair Target – High-grade target
Jair Target – High-grade target covering ~1.3 km × ~0.75 km, located ~4 km northwest of VG1 Up to 11.1 g/t Au Historical rock-chip/grab samples returned high- grade gold values. High Anomaly Intensity Gold-in-soil panning anomalies include values up to 0.91 g/t Au Historical Workings to Depth Artisa
Slide 22: The AUZ Investment Case
The AUZ Investment Case Two Projects: Scandium and Gold Direct Exposure to High-Grade Right Place, Right Time, Valuation Disconnect Scandium Scandium approaching an 70x market-cap gap despite Highest-grade Sc Resource among Inflection Point being only two clear development the leading high-grade pur
Slide 23: Corporate Overview
Corporate Overview Michael Ramsden Non-Executive Chairman Lawyer & corporate advisor, 30+ yrs. MD of Terrain Capital; ex- CIBC, JP Morgan & D&D Tolhurst. Chairman, Cremorne Capital RE LRT. BEc, LLB, FFIN. Andrew Nesbitt Managing Director 25 yrs in resources; executive, production & technical roles.
Slide 24: Australian Mines Limited
AUSTRALIAN MINES LIMITED | ASX: AUZ australianmines.com.au
Slide 25: Sources, References & Compliance
Sources, References & Compliance SOURCES — ASX ANNOUNCEMENTS & FILINGS ASX CAUTIONARY & COMPLIANCE STATEMENTS AUZ — 8 Jan 2025: Flemington MRE (M 3.12 Mt @ 455; I 3.02 Mt @ 441; Inf 0.15 Mt @ 371; headline Competent Person / Previously Reported Information. The information in 6.3 Mt @ 446 ppm) this
Slide 26: Sources, References & Compliance
Sources, References & Compliance SOURCES — ASX ANNOUNCEMENTS & FILINGS ASX CAUTIONARY & COMPLIANCE STATEMENTS M I Inf M+I M + I + Inf.* Peer Project Cautionary Statement: AUZ has no Project Reference koz ownership, economic interest or other interest in the GoldMining Inc., NI 43-101 Technical Repor