Kalamazoo Resources Ltd. · ASX:KZR
Kalamazoo Resources — Investor Presentation (July 2025)
16 slides from Kalamazoo Resources's investor presentation, Jul 30, 2025
Slide 1: Investor Update: Ashburton Gold Project
Investor Update Ashburton Gold Project For personal use only 30 July 2025 ASX: KZR kzr.com.au
Slide 2: Forward Looking Statements
Forward Looking Statements Investment Presentation The information in this IP for all Projects, other than the Ashburton Gold Project, is based on information compiled by Dr Luke For personal use only This Investment Presentation (IP) is not a disclosure document under Chapter 6D of the Corporations
Slide 3: Investment Highlights
Investment Highlights • Kalamazoo retains 100% of 1.44Moz1 Ashburton Gold Project (AGP) after conclusion of Option to For personal use only Acquire held by De Grey (DEG) and later assumed by Northern Star (NST) • Gold price has increased by A$2,000/oz since Option granted to DEG in February 2024 • A
Slide 4: Ashburton Project Update
Ashburton Project Update • 2020 – AGP purchased by Kalamazoo from NST for deferred consideration and royalties For personal use only • 2024 – Kalamazoo grants DEG Option to acquire AGP for $33m (including $3m signing fee) • 2025 – NST completes $5B take-over of DEG and assumes Option to acquire AGP
Slide 5: Ashburton Gold Project
Ashburton Gold Project • Located 35km SE of For personal use only Paraburdoo in the Pilbara • 238km2 consisting of 4 Mining and 5 Exploration Leases • AGP produced 350,000oz Au between 1998-2004 • Excellent existing infrastructure • 2023 – Mineral Resource Estimate (MRE) of 16.2 Mt @ 2.8 g/t Au for
Slide 6: Scoping Study Fast-tracked
Scoping Study Fast-tracked For personal use only • With AGP retained Kalamazoo commences Study with BHM and Entech appointed as major consultants • Simon Coyle (former GM Operations of Pilbara Minerals) appointed Project Manager to lead Study • Scoping Study to be completed Q4 2025 • Scoping Study w
Slide 7: Recent Mt Olympus Drilling
Recent Mt Olympus Drilling For personal use only Outstanding drilling results by DEG from its 2024 metallurgical 10-hole drill program (2,252m) at the Mt Olympus deposit including: 5,6 47.0m @ 5.5g/t Au from 30m in ASHDD0007 55.5m @ 4.1g/t Au from 177.6m in ASHDD0008 31.8m @ 3.3g/t Au from 132
Slide 8: Mt Olympus Single Open Pit Re-Optimisation
Mt Olympus Single Open Pit Re-Optimisation • MRE completed by CSA (now ERM) in 2022 when gold price was A$2,600 oz1 For personal use only 16.2Mt @ 2.8g/t Au for 1.44 million ounces compares well on grade with Pilbara peers 10% increase in grade (2.8g/t Au) 68% increase in Indicated Category ou
Slide 9: Updated Mt Olympus Open Pit Re-Optimisation
Updated Mt Olympus Open Pit Re-Optimisation2 For personal use only Optimisation Pit Shells, Optimisation Pit Shells, North-South Cross Section of the Main Pit (Blue AUD$4,000 Oz Au, Pink: AUD$4,500 Oz Au) (Blue AUD$4,000 Oz Au, Pink: AUD$4,500 Oz Au) 9
Slide 10: Development Pathway: Flotation Circuit
Development Pathway: Flotation Circuit • Outstanding gold recoveries from 2022 test work on 4 metallurgical composites from Mt Olympus, For personal use only with concentrate grade averaging 32 g/t Au with a maximum value of 39 g/t Au7 • Excellent gold recovery into an initial rougher concentrate of
Slide 11: Development and Exploration Upside
Development and Exploration Upside For personal use only • Resource growth potential with: Brownfields extension to the existing Mt Olympus open-pit and potential underground resource Underground potential at the Peake deposit (currently 210,000oz @ 3.4 g/t Au)1 Open-pit potential at the Waugh
Slide 12: Peer Comparison – Substantial Upside
Peer Comparison8 – Substantial Upside For personal use only 12 8: See Annexure A for detailed Parameters for Enterprise Value per total Mineral Resource ounce Au
Slide 13: Gold Price Running – All Time High
Gold Price Running – All Time High9 For personal use only 13 9: ABS Bullion 28 July 2025
Slide 14: Use of Funds and Next Steps
Use of Funds and Next Steps For personal use only • Placement of $2m to major shareholders, directors and sophisticated and professional investors2 • Use of Funds: Fast-track Scoping Study General working capital • Indicative Timeline: Q4 2025: Scoping Study finalisation Q4 2025: Potential P
Slide 15: Corporate Overview
Corporate Overview For personal use only Substantial ShareholdersA Board & Management Capital Structure (post placement) Luke Reinehr Executive Chairman Shares 241,615,739 13.5% Dr Luke Mortimer Chief Executive Officer Performance Rights 1,875,000 19.6% Angus Middleton Non-Executive Director Unliste
Slide 16: Annexure: Parameters for Enterprise Value per Resource Ounce
Annexure 1 For personal use only Parameters for Enterprise Value per total Mineral Resource ounce Au 16
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