Asara Resources Limited · ASX:AS1
Asara Resources — Investor Presentation (April 2026)
26 slides from Asara Resources's investor presentation, April 2026
Slide 1: The Kada Gold Project
The Kada Gold Project Developing a Premier Gold Asset in the Siguiri Basin, Guinea April 2026 ASX : AS1 ASARARESOURCES.COM CORPORATE PRESENTATION ASX: AS1 ASARARESOURCES.COM 0
Slide 2: Disclaimer / Forward-looking Statements
Disclaimer / Forward-looking Statements This presentation has been prepared by Asara Resources Limited (ABN 39 006 710 774) (“Asara”) based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the info
Slide 3: Investment Highlights
INVESTMENT HIGHLIGHTS Large Siguiri Basin footprint with 0.9 Moz1 anchor deposit and clear expansion opportunity PREMIER GOLD DISTRICT GROWING GOLD INVENTORY SIGNIFICANT UPSIDE POTENTIAL Positioned in the Siguiri Basin of Guinea, 923 koz Au MRE1 at the Massan and Over 15 km of highly prospective str
Slide 4: A Guinea Gold Opportunity
A GUINEA GOLD OPPORTUNITY Strategic basin-central position in a growing world- class gold district West Africa, a Leading Gold Province: Guinea contributes ~18% of West Africa’s (WA) gold production from the Siguiri Basin within the world’s largest gold-producing region. Stable, Mining-Friendly Juri
Slide 5: Corporate Overview
CORPORATE OVERVIEW Strong share price and market capitalisation growth driven by operational progress CAPITAL STRUCTURE1 OWNERSHIP Share Price AS$ 0.14 Enterprise Value 203M MAJOR SHAREHOLDERS LISTINGS Shares on Issue 1.6B Cash Balance2 21M Barbet LLC FZ ……… 14.94% Market Cap AS$ 225M Debt Nil Capit
Slide 6: Board of Directors & Corporate Governance
BOARD OF DIRECTORS & CORPORATE GOVERNANCE Experienced board with a proven track record in gold discovery and development JEFF QUARTERMAINE BRETT MONTGOMERY DOUG JONES TIM STRONG JOANNA KIERNAN Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Company Secreta
Slide 7: Leadership Team
LEADERSHIP TEAM Proven team with extensive experience advancing Guinean gold projects to production MATTHEW SHARPLES ANDREW DE KLERK ANDRE BEZUIDENHOUT MANDJOU KEITA SOULEYMANE SAADI Chief Executive Officer VP of Exploration Principal Geologist Geology Manager Country Manager ➢ Mining professional w
Slide 8: ESG and Community Initiatives
ESG AND COMMUNITY INITIATIVES Strengthening local communities through partnership and sustainable economic development, whilst upholding commitment to environmental responsibility COMMUNITY ROBUST CORPORATE LOCAL ECONOMIC ENVIRONMENTAL INFRASTRUCTURE GOVERNANCE PARTICIPATION RESPONSIBILITY INVESTMEN
Slide 9: The Kada Gold Project
THE KADA GOLD PROJECT District-scale gold project with flagship Resource Kada Project: Contiguous 101 km² land package (Kada & Bamfele permits) located along the N–S-trending Siguiri Mineralisation Trend. Massan Deposit (Flagship): Most advanced asset with a 2023 maiden MRE of 224 koz Indicated and
Slide 10: Massan Deposit: JORC 2023 MRE
MASSAN DEPOSIT: JORC 2023 MRE A Resource constrained by drill coverage, not mineralisation continuity Massan 2023 MRE Indicated and Inferred Material Indicated Inferred Total Material Tonnes Grade Tonnes Grade Tonnes Grade Gold Type Mt g/t Mt g/t Mt g/t Ounces Oxide 4.60 1.07 7.28 0.93 11.88 0.99 37
Slide 11: Massan Deposit: The Upside
MASSAN DEPOSIT: THE UPSIDE Mineralised Domains highlight significant Resource upside through continued drilling Highlights Massan 2023 MRE Mineralised Domains ➢ Proven strike continuity of mineralisation >3,500 m ➢ Mineralisation demonstrated to depths exceeding 600 m ➢ Significant potential to disc
Slide 12: Massan's Potential Quick Wins
MASSAN’S POTENTIAL QUICK WINS Demonstrated strike and depth potential to expand Indicated and Inferred Resources 1 1 1 4 4 4 2 3 Recent Asara drilling 1• Strike Continuity Confirmed by Drilling: The current Inferred confirms mineralisation Resource captures only ~1.3 km of the N–S mineralised strike
Slide 13: Consistent Gold Intercepts Across Massan
CONSISTENT GOLD INTERCEPTS ACROSS MASSAN Broad mineralised zones are characteristic of both oxide and fresh rock, as demonstrated by the selected significant intercept1 highlights below OXIDE ZONE FRESH ZONE HOLE ID FROM TO WIDTH GRADE HOLE ID FROM TO WIDTH GRADE KRC025 16 116 100 m 3.2 g/t MSRC25-0
Slide 14: A Deposit Favourable for Mining
A DEPOSIT FAVOURABLE FOR MINING Stockwork mineralisation, low-strip ratio, free-digging and excellent recoveries Mineralisation is controlled by the intersection of two major cross-cutting regional structures, forming distinct high-grade lodes within a broader stockwork mineralised system Broad, con
Slide 15: Massan's Clear Pathway to Resource Growth
MASSAN’S CLEAR PATHWAY TO RESOURCE GROWTH Two concurrent, aggressive drill campaigns Massan remains significantly under-drilled, with mineralisation open along strike and at depth. Historical drilling defined ~3.5 km of mineralised strike, with both ends still open. Depth continuity confirmed by New
Slide 16: Massan Indicated Drill Plan
MASSAN INDICATED DRILL PLAN Drilling to rapidly grow the Indicated Resource N-S Strike & Depth Extension Drilling: Approximately 315 RC/DD drill holes targeting a minimum depth of 250m, for a total planned program of ~80,000m. The program is designed to expand the Indicated Resource footprint from a
Slide 17: Drilling Supports a Deeper Pit Shell at Massan
DRILLING SUPPORTS A DEEPER PIT SHELL AT MASSAN Phase 1 drilling confirms continuous mineralisation beyond the 2023 US$1,800 pit shell ASX: AS1 ASARARESOURCES.COM 16
Slide 18: Inferred Growth Plan
INFERRED GROWTH PLAN Systematic drilling to expand strike and depth Planned Strike Extension Drilling: Approximately 160 RC/AC drill holes targeting a minimum depth of 120m to 150m, for a total planned program of ~20,000m. The Inferred programme will test two key extensions: ➢ The broadly mineralise
Slide 19: A Clear, Near-Term Growth Strategy
A CLEAR, NEAR-TERM GROWTH STRATEGY Accelerated drilling to expand the pit shell and advance strike and depth extensions ASX: AS1 ASARARESOURCES.COM Note: Drill holes pending assay results are excluded. The long section shows only NS strike-aligned holes. 18
Slide 20: Massan Deposit and Kada Project Highlights
MASSAN DEPOSIT AND KADA PROJECT HIGHLIGHTS High-quality gold asset with scale, growth, and development potential FLAGSHIP MASSAN DEPOSIT WITH MATERIAL GROWTH UPSIDE Drilling to date has validated the targeting and underscored the scale of the prospectivity of the Massan Deposit. Demonstrated strike
Slide 21: Our Strategy
OUR STRATEGY Advancing a multi-deposit growth pipeline in West Africa’s prolific Siguiri Basin 01 02 03 04 05 Accelerate Resource Unlock Bereko’s Advance Damisso Koura Expand the Regional Build a Multi-Deposit Growth at Massan (906 Potential Targets Footprint Development Pipeline koz Au1) (18 koz Au
Slide 22: Next Steps
NEXT STEPS Ramped up drilling in 2026 to rapidly expand Massan’s Indicated and Inferred Resources PROGRAMME 2025 2026 & ACTIVITY Q4 Q1 Q2 Q3 Q4 MASSAN DRILLING Inferred RC/AC Strike Extension ~20,000m Update the MRE or continue Inferred DD Depth Extension drilling to expand the dataset prior to the
Slide 23: Join our shareholder community
Join our shareholder community +61 8 6374 2654 Matthew Sharples Chief Executive Officer info@asararesources.com Asara Resources | ASX : AS1 | FRA : ALM Suite 1, 130 Hay Street, asararesources.com Subiaco WA 6008 AUSTRALIA ABN: 39 006 710 774 This presentation was authorised for release to the ASX by
Slide 24: Appendix 1: Kada Mineral Resource
APPENDIX 1 Kada Mineral Resource (1 October 2023, US$1,800 Pit Shell) Measured Indicated Inferred Total Deposit Material Type Tonnes Gold Tonnes Gold Tonnes Gold Tonnes Gold Gold Mt g/t Mt g/t Mt g/t Mt g/t Ounces Oxide - - 4.60 1.07 7.28 0.93 11.88 0.99 377,000 Transitional - - 1.07 0.88 3.80 0.91
Slide 25: Appendix 2: South American Portfolio
APPENDIX 2 South American Portfolio: The Paguanta & Loreto Projects, Chile Loreto Copper Project Pursuant to the US$17 million Option and Joint Venture Agreement (OJVA) with Teck Resources Chile Limitada (Teck Chile), Teck Chile is continuing to engage with surface landowners and local communities t
Slide 26: Appendix 3: Paguanta Mineral Resource
APPENDIX 3 Paguanta Mineral Resource (May 2017) Resource Category Tonnes Zn (%) Pb (%) Ag (g/t) Au (g/t) Zn Eq (%) Ag Eq (g/t) Measured (M) 490,000 5.5 1.8 88 0.3 Indicated (I) 610,000 5.1 1.8 120 0.3 M+I 1,100,000 5.3 1.8 100 0.3 Inferred 1,300,000 4.8 1.1 75 0.3 TOTAL 2,400,000 5 1.4 88 0.3 9.7 23