Qem Limited · ASX:QEM
Qem — Merger or Acquisition (April 2026)
22 slides from Qem's merger presentation, April 2026
Slide 1: Dual-Focus U.S. Critical Minerals Package
DUAL-FOCUS U.S. CRITICAL MINERALS PACKAGE al use only Critical Minerals Tungsten · Fluorspar · Antimony · Gold · Niobium · Tantalum · REE BIG IT PROJECT COLUMBITE PROJECT Past Producer of High-Grade Tungsten–Antimony– Prospective for Rare Earth–Niobium–Tantalum–Fluorspar Gold, Silver Valley, Shoshon
Slide 2: U.S. Critical Minerals at Risk
U.S. Critical Minerals at Risk Two projects which address minerals in high demand for which the US has severe import dependence on foreign supply or single-source suppliers. al use only TUNGSTEN ANTIMONY NIOBIUM W U.S. Import Reliance: 100% Sb U.S. Import Reliance: 84% Nb U.S. Import Reliance: >50%
Slide 3: Dual Project Focus
Dual Project Focus Lucky Friday Mine HL.NYSE Two complementary Idaho projects addressing the most acute U.S. critical mineral BIG IT supply vulnerabilities. Golden Chest Mine W – Sb – Au IDR.NYSE Silver Valley, Shoshone Co. al use only 1 BIG IT PROJECT Galena Complex Tungsten · Antimony · Gold Sunsh
Slide 4: Investment Highlights
Investment Highlights Historical Production Verified Multi-Commodity Grades Big It produced tungsten concentrates (67–75% WO₃) for the U.S. Up to 19.5% Sb, 12.9% WO₃, and 11.2 g/t Au grades from historical al use only Government during the Korean War strategic stockpiling programs production at Big
Slide 5: Big It Project
TUNGSTEN · ANTIMONY · GOLD al use only Big It Project Silver Valley, Shoshone County, Idaho USA
Slide 6: Why Tungsten & Antimony? Why Now?
Why Tungsten & Antimony? Why Now? CRITICAL US DEFENCE VULNERABILITY PERFECT MARKET TIMING LEGISLATIVE MANDATE al use only • Zero domestic U.S. tungsten mine • Tungsten at all-time highs — severe • REEShore Act: U.S. military must be free production — 100% import reliant global shortage of Chinese tu
Slide 7: The Silver Valley: America's Richest Mining District
The Silver Valley America's Richest Mining District Big It sits within the Coeur d'Alene Mining District — one of the most prolific and well-serviced mining regions in the world. al use only 1.2 Bn oz 130+ 8M+ oz 11 km Historic Silver Production Years of Continuous Mining Historic Gold Production To
Slide 8: The Silver Valley: America's Richest Mining District
The Silver Valley America's Richest Mining District Big It sits within the Coeur d'Alene Mining District — one of the most prolific and well-serviced mining regions in the world. al use only PROJECT LOCATION
Slide 9: The Silver Valley: America's Richest Mining District
The Silver Valley America's Richest Mining District Bunker Hill Sunshine Mine 165Moz Ag Antimony al use only 11 km Produced Processing Plant Coeur Mine To Sunshine Mine Sb Plant Only planned U.S. antimony processor Galena Lucky Friday 238 Moz Ag 4.9 Moz Au Produced PROJECT LOCATION
Slide 10: Regional Consolidation Opportunity
Regional Consolidation Opportunity The Big It Project sits within a district rich in historic tungsten, antimony, and gold workings — with significant ground available for staking around the existing claims. al use only The project team will facilitate claim staking: Staking Strategy Phase 1 of the
Slide 11: Big It Project
Big It Project PAST TUNGSTEN–ANTIMONY–GOLD PRODUCER Overview Location & Property Grade Highlights 39.7% Sb al use only • Silver Valley, Coeur d'Alene Mining District, Shoshone County, Idaho Antimony • 3 unpatented federal mining claims + ~101 acres fee land 2014 #3 sample • Developed by two tunnels:
Slide 12: Historic Production & Government Programs
Historic Production & Government Programs Big It was the subject of detailed investigation by the U.S. Bureau of Mines (USBM) and the Defence Minerals Exploration Administration (DMEA) during the 1952–1953 wartime tungsten programs. al use only Confirmed Tungsten Shipments • Shipment 1 (1952): 1,711
Slide 13: Development Strategy — Phased Roadmap
Development Strategy — Phased Roadmap The following is a conceptual potential roadmap for a systematic, capital-efficient approach from validation through to Defence funding — leveraging Big It's wartime heritage and district infrastructure (subject to future exploration results and studies). al use
Slide 14: Columbite Project
NIOBIUM · TANTALUM · REE · FLUORSPAR al use only Columbite Project Garden Valley, Boise County, Idaho
Slide 15: Columbite Project
Columbite Project — RARE EARTH–NIOBIUM–TANTALUM–FLUORSPAR Overview Location & Property Mineralogy & Deposit Style, Prospective for: al use only • Near Garden Valley, Boise County, Idaho — Boise National Forest Columbite–Tantalite • Sec. 19, T8N, R5E, Boise Meridian — 6.5 miles east of Garden Valley
Slide 16: Fluorspar (CaF2) Upside
Fluorspar (CaF2) Upside Idaho Bureau of Mines and Geology Report (1951): Why is Fluorspar a critical mineral? The Idaho occurrences described are primarily: Fluorspar’s strategic relevance has increased: al use only • Structurally Controlled Veins • Critical input into hydrofluoric acid • Associatio
Slide 17: Rare Earth Elements in Idaho
Rare Earth Elements in Idaho al use only Key REE Districts Lemhi Pass Largest known U.S. thorium–REE deposit. Vein-hosted monazite and thorite across Idaho–Montana border Diamond Creek REE–Th deposit in Lemhi County Mineral Hill Carbonatite veins hosting Nb-bearing rutile, REE, and Ti. Central Idaho
Slide 18: Rare Earth Elements in Idaho
Rare Earth Elements in Idaho Idaho hosts multiple REE deposit styles across at least six distinct districts — from thorium-REE veins in the east to pegmatite and placer systems in the Boise Basin. The IGS Critical Mineral Atlas catalogues ~15 Placer Deposit areas, one at the Columbite Project area.
Slide 19: Columbite — Six Named Prospects
Columbite — Six Named Prospects The project covers a continuous belt of fluorine-enriched, rare-metal pegmatites within the current 44-claim boundary. Vaught–Columbite Mine Mica Dome al use only Principal historic working. Confirmed Nb–Ta–REE–F mineralisation. Zoned pegmatite system — feldspar, mica
Slide 20: Columbite — REE Prospects of Boise County
Columbite — REE Prospects of Boise County Five named occurrences within the COL claim group — catalogued by the Idaho Geological Survey as Rare Earth Element sites in Boise County. Code Prospect Name(s) Description Key Minerals al use only CH0712 Vaught–Columbite Mine Principal historic working. Zon
Slide 21: Why a Dual-Focus Package?
Why a Dual-Focus Package? Two complementary Idaho projects addressing different segments of the U.S. critical-minerals supply chain. BIG IT PROJECT COLUMBITE PROJECT al use only • Prospective for Tungsten + Antimony + Gold • Prospective for Niobium + Tantalum + REE + Fluorspar • Proven wartime produ
Slide 22: Critical Minerals
Critical Minerals al use only Dual-Focus U.S. Critical Minerals Package 7 2 47+ 100% Critical Minerals Idaho Projects Mining Claims U.S. Jurisdiction QEM Limited | QEM.ASX April 2026