Marmota Limited · ASX:MEU
Marmota — Shareholder Meeting (February 2025)
58 slides from Marmota's shareholder meeting presentation, Feb 5, 2025
Slide 1: ASX Announcement: AGM Presentation amendments
ASX ANNOUNCEMENT 5 February 2025 AGM Presentation The ASX has requested Marmota Ltd pursuant to Listing Rule 18.8(a) to amend the AGM Presentation presented to shareholders at the AGM held in Adelaide on 28 November 2024. The following changes to the original presentation have been made: • Slide 10:
Slide 2: AGM 2024 Chairman's Presentation
Aurora Tank Gawler Craton For personal use only AGM 2024 Chairman’s Presentation ASX: MEU
Slide 3: Corporate Snapshot
Corporate Snapshot ASX: MEU Capital Structure Share Price (Last 12 months) For personal use only Shares on issue 1,086 m Options 0 Unlisted options 15 m Market Cap (at 4 cents per share) ~ $ 43 m Cash (as at 30 Sept 2024) $ 2.7 m Zero Debt Board & Management Top Shareholders Executive Chairman Dr Co
Slide 4: Experienced Board
Experienced Board use only Executive Chairman Non-executive Director: Executive Director: Aaron Brown Neville Bergin Rose Production Exploration personal Colin has been Non-Executive Neville is a mining engineer with Aaron is an exploration geologist Chairman of Marmota since over four decades of go
Slide 5: Fundamentals: gold price
Fundamentals 2022 2023 2024 AGM AGM AGM GOLD price ~ AUD $ 2,500 ~ AUD $ 3,050 ~ AUD $ 4,050 For personal use only (AUD$ per ounce) 12 month Gold AUD 4
Slide 6: 10,000 km2 of exposure
10,000 km2 of exposure For personal use only 5
Slide 7: Outstanding Projects
3 Outstanding Projects For personal use only
Slide 8: Key Takeaway
Key Takeaway For personal use only Jan 2025: wrapping up exploration at Aurora Tank, commencing JORC, resource work, pit design, scoping study As Aurora Tank wraps up, 2025 exploration focus shifts to grow our uranium resource The cherry on top
Slide 9: Timeline to June 2025
For personal use only to June 2025 Timeline
Slide 10: Aurora Tank Gold Discovery
Aurora Tank Gawler Craton For personal use only Aurora Tank Gold Discovery AGM UPDATE
Slide 11: Aurora Tank ~100 g/t Au over 1m in different zones
Aurora Tank For personal use only ~ 100 g/t Au over 1m in 5 different zones 10
Slide 12: Plan View: November 2024 assay results
Plan View November 2024 assay results see ASX:MEU 26 Nov 2024 RC program designed to try close off open sections … instead found thick rich high-grade extensions at south For personal use only Currently, our biggest problem at Aurora Tank is …. we keep on finding more gold. (not a bad problem to hav
Slide 13: Aurora Tank November assays
Aurora Tank November assays For personal use only TOP the Mining Hub Drilling Intercept gold table
Slide 14: Plan view: best downhole gold results
Plan View Tank Aurora Plan view Best downhole For personal use only gold results 2024 RC drilling highlights in purple boxes 13
Slide 15: Schematic section through Southern Zone
For personal use only Schematic Section though Southern Zone showing new high-grade extensions 14
Slide 16: Schematic long-section through NW flank
For personal use only Schematic Long-section through NW flank 15
Slide 17: Aurora Tank Summary Highlights
Aurora Tank For personal use only Summary Highlights 16
Slide 18: Primary Mineralisation
Primary Mineralisation Tests of gold grains (105 g/t) collected at 38m Close to Amenable to For personal use only 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 Suggests ho
Slide 19: Low-cost Low-capex Heap Leach Pathway
Low-cost Low-capex Heap Leach Pathway For personal use only “ 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 le
Slide 20: Marmota has water source at Aurora Tank
Marmota has water source at Aurora Tank For personal use only 19
Slide 21: Camp: installed and upgraded
CAMP: INSTALLED + UPGRADED • multiple sleeping quarters For personal use only • 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 20
Slide 22: First Pit Wall Parameters
First Pit Wall Parameters For personal use only 21
Slide 23: Transitioning from Discovery to Production
Aurora Tank Transitioning from: Discovery Production For personal use only Metallurgical, Infrastructure and Approvals Optimised metallurgical work Completing Dec Camp running, Environmental studies completed, ticking off the boxes for the remainder 22
Slide 24: Key Takeaways Aurora Tank
Key Takeaways Aurora Tank Gawler Craton For personal use only 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 fo
Slide 25: Golden Moon JV
Aurora Tank Gawler Craton For personal use only Golden Moon JV Setting up a pipeline of Gold projects to follow Aurora Tank AGM UPDATE
Slide 26: For personal use only
For persone use only “re Lic isl 400,000 i 6.739.000 6.729.000 6,719,000 CAMPFIRE BORE im __ 109, 000 oz Gold — = MAINWOOD* on 12, 000 Oz oe we & 4 *s i, oe," GOLF BORE 6 9 100% MEU 419,000 oz Gold | 3, ri AURORA TANK Projection: GDA94 253 9,6 ral) a @_MARMOTA —fX Gotsveposts ia N Marmota (Half Moon
Slide 27: Golden Moon deposits have minimal drilling
For personal use only Golden Moon deposits have minimal drilling compared to Aurora Tank Not nearly as advanced Have enormous potential for growth All reported resources are close to surface (within 100m from surface) Amenable to low-cost open pit mining. Current gold price (~A$4100) is
Slide 28: First MEU drilling at Campfire Bore
Oct 2024 For personal use only First MEU drilling at Campfire Bore 11,690m in Oct Assays in early Dec 27
Slide 29: Titanium
For personal use only Titanium 28
Slide 30: Exceptional Titanium discovery Nov 2024
Exceptional Titanium discovery Nov 2024 See ASX:MEU 13 Nov 2024 For personal use only Marmota drilled a magnetic target approximately 1.5km long by 750m wide on 100% owned Muckanippie tenement Every hole on the fence line yielded exceptional thick rich titanium dioxide (TiO2): Discovery is ope
Slide 31: Rail
For personal use only Rail Rail 30
Slide 32: Titanium Discovery on EL 6166 over TMI
For personal use only Titanium Discovery on MEU EL 6166 (Muckanippie) over TMI (total magnetic intensity) 31
Slide 33: For personal use only
For personal use only 32
Slide 34: Cross-section through Titanium Discovery
For personal use only Cross-section through Titanium Discovery Holes: Hole 78 (NE) to Hole 81 (SW) 33
Slide 35: Maximum Downhole TiO2 %
MEU discovery MARMOTA Maximum Downhole Ti02 % 40-2
Slide 36: Comparison to PTR (next door)
Comparison to PTR (next door) For personal use only 35
Slide 37: Uranium
For personal use only Uranium 36
Slide 38: Junction Dam
Junction Dam By the end of 2014: For personal use only MEU spent over A$8 million developing Junction Dam uranium [ ASX:MEU 29 Sept 2014 ] Now: MEU announced decision to re-commence exploration at Junction Dam, to substantially grow the Company’s uranium resource. [ ASX:MEU 26 Oct 2023 ] 37
Slide 39: History: Junction Dam
For personal use only History Junction Dam
Slide 40: Junction Dam: Background
Junction Dam: Background 1. MEU Junction Dam tenement book-ends BOTH sides of the palaeochannel that For personal use only runs through the Boss Honeymoon (ASX:BOE) ISR uranium mine – one of just 4 permitted uranium mines in Australia (three of which are in South Australia). 2. Dramatic upturn in bo
Slide 41: Junction Dam bookends the palaeochannel at Honeymoon
For personal use only The Junction Dam uranium tenement (100% MEU) bookends both sides of the palaeochannel 40 of the Boss Energy Ltd (ASX:BOE market cap ~ $1.1 billion) Honeymoon uranium plant
Slide 42: Junction Dam Re-start
Junction Dam Re-start For personal use only 1. MEU announced engagement of uranium expert Mark Couzens to: • conduct stratigraphic and mineralisation review, and • design first drill program for Junction Dam re-start 2.Making superb progress! Exceeding all expectations 3. Stage 1, 2, 3 and 4 Review:
Slide 43: Area 1: Saffron
Area 1: Saffron Existing inferred uranium resource For personal use only 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
Slide 44: Saffron priority uranium targets
For personal use only 494,800 485,500 J marwora SAFFRON PRIORITY URANIUM TARGETS. N 4 New Targets Saffron area 6,489,600 6,489,600 0 50100 200 Mars Projet bane 254 Target 4 6,480,800 m— Target 3 4 Area of Interest 7 Aa f Priority Target ea, L ght22 of interest — Cross Section A-A’ 6,488,000 Palaeoch
Slide 45: Schematic cross-section across Saffron Uranium Deposit
For personal use only Schematic cross-section with a length of 600 metres across the Saffron Uranium Deposit
Slide 46: Junction Dam Project map
460,000 470,000 480,000 480,000 i i i i e Marmota Junction Dam EL6530 4 T 6,500,000 Inferred Resource 10.7 Mibs @ 790 ppm Jason’s South MARMOTA A” =) Geunetion Dam Project N j A Honeymoon fay Exploration Target 0 125 25 5 / 4 Kilometres | Projection: GDA94 254 Marmota: Uranium Deposits Boss Energy:
Slide 47: Area 2: Bridget
Area 2: Bridget • Enormous potential to host a large uranium resource. For personal use only • 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 U
Slide 48: 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 . For personal use only Priority targets have been identified from the stratigraphic interpretation complet
Slide 49: Junction Dam Re-start
Junction Dam Re-start For personal use only “ More exciting than we could possibly have imagined. Completely changed our concept of the size and scope of uranium mineralisation at Junction Dam .” 48
Slide 50: Bridget Stratigraphic Model
Bridget Stratigraphic Model For personal use only 49
Slide 51: Area 3: Yolanda
Area 3: Yolanda Target stretches over 8km long and more than 1km wide. For personal use only Smallest number of historical holes: underexplored area Most of the previous drilling missed the key palaeochannels. 50
Slide 52: For personal use only
3) 18 8 flgis etre 3]ala 3 , je r z re a : * — * ; SRE E) alate ile elated tet. Velen sie ee et ee ee eee oe “| a * ia en a Sea Ajuo asn jeuosijad 4105
Slide 53: Jasons
JASONS For personal use only The Junction Dam uranium tenement (100% MEU) bookends both sides of the palaeochannel 52 of the Boss Energy Ltd (ASX:BOE market cap > $2 billion) Honeymoon uranium plant
Slide 54: Area 4: Jasons
Area 4: Jasons • Jasons is the highest-grade uranium resource that Boss has. For personal use only • Just across the tenement boundary from us. • New model suggests Palaeochannel continues onto our side! • No drill holes in the area. Target palaeochannel essentially untested. • Potential for New Hig
Slide 55: Boss / Marmota
For personal use only Boss Marmota 54
Slide 56: Key Takeaway
Key Takeaway For personal use only 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 Ju
Slide 57: Referenced prior Marmota releases
This AGM Presentation includes information based on prior Marmota ASX:MEU releases which may be referred to for more detail, including: 26 Nov 2024 13 Nov 2024 9 Oct 2024 30 Sept 2024 30 April 2024 9 April 2024 20 Nov2023 26 Oct 2023 20 Sept 2023 1 Sept 2023 1 Aug 2023 3 April 2023 For personal use
Slide 58: 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