Slide 1: Chile's New Copper Discovery
SOUTH AMERICA MEJILLONES MARIMACA ANTOFAGASTA SANTIAGO For personal use only CHILE’S NEW CHILE COPPER DISCOVERY Exceptional Development Project, Outstanding Exploration Potential Investor Presentation | April 2025 TSX: MARI CHILE’S NEW COPPER DISCOVERY 1 Advancing Development With District Scale Pot
Slide 2: Disclaimer
Disclaimer This presentation includes certain forward-looking statements about future events and/or financial results which are forward- looking in nature and subject to risks and uncertainties. Such forward-looking statements or information, including but not limited to those with respect to the de
Slide 3: Introduction: Marimaca Copper Project
Introduction: Marimaca Copper Project MEJILLONES MARIMACA ANTOFAGASTA For personal use only DFS underway SANTIAGO Continuous growth of evaluating simple, low oxide copper resources strip ratio, open pit CHILE operation Rapidly advancing Low execution risk CHUQUICAMATA MANTOS DE LA LUNA toward a cons
Slide 4: Marimaca: Green Copper Mining Project of the Future
Marimaca: Green Copper Mining Project of the Future WATER – recycled seawater supply secured from the Bay of Mejillones For personal use only POWER – certified renewable electricity supply available COMMUNITIES – no community land overlap, skilled local workforce IMPACT – limited flora & fauna
Slide 5: Water Supply: De-risked and sustainable
Water Supply: De-risked and sustainable Recycled seawater from Mejillones will supply the Marimaca Copper Project • Water option secured from the Bay of Mejilllones – recycled seawater ― De-risks water supply for the For personal use only MARIMACA COPPER Marimaca Project – intake is already PROJECT
Slide 6: Marimaca: Overview
Marimaca: Overview Infrastructure access lowers execution risk Close to all aspects required to build a mine For personal use only Proximity to first class utilities and infrastructure Water, Power, Transport, Communications Within 25km of Port of Mejillones Access to all major consumables for a SX-
Slide 7: Marimaca: Mineral Resource Growth
Marimaca: Mineral Resource Growth Track record of Consistent resource growth through each drilling campaign M&I (MOD) Inferred (MOD) 1,250 kt For personal use only 1,000 kt 750 kt 500 kt 250 kt 0 kt 2017 2018 2019 2022 2023 Maiden Mineral 2018 MRE(2): 2019 MRE(3): 2022 MRE(4): 2023 MRE(5): Resource
Slide 8: Marimaca Projects: 2025 / 2026 Work Programs
Marimaca Projects: 2025 / 2026 Work Programs Exploration and Development in Parallel 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Sierra depersonal use only MOD DFS Permitting Approval Process First milestone under permitting process achieved in February 2024; receipt of ICSARA Project Advancement Detailed D
Slide 9: MOD: 2023 Resource Update – De-risking Milestone
MOD: 2023 Resource Update – De-risking Milestone 86% of total resource tonnes now in Measured and Indicated categories 2023 MRE Plan View - MOD Significant conversion of Inferred tonnage and → contained metal over the 2022 MRE ― 44% increase in M&I Resource tonnes For personal use only to 200Mt at 0
Slide 10: Marimaca Oxide Deposit: Why is it unique?
Marimaca Oxide Deposit: Why is it unique? Location & access to infrastructure / utilities deliver lower execution risk Route 1 – National For personal use only Highway Antofagasta – 40km Port of Mejillones – 25km Existing 110kV Process Plant Powerline Existing Seawater Pipeline 7km Open Pit . Note:
Slide 11: MOD Mining: Simple Open Pit Mining
MOD Mining: Simple Open Pit Mining Favorable deposit geometry has potential to improve economics → Low strip ratio with ore body exposed at surface For personal use only - Favorable geometry of ore body has further reduced strip from MRE 1,500m → High grade zones from surface expected to be accessib
Slide 12: MOD Processing: Simple SX-EW Processing
MOD Processing: Simple SX-EW Processing Low complexity processing supports robust project economics Marimaca PEA flowsheet For personal use only Note: Marimaca Copper Project infrastructure shown per 2020 PEA layout which may or may not be similar or relevant for the Company’s CHILE’S NEW COPPER DIS
Slide 13: Marimaca Oxides: Extensive Met Work Completed
Marimaca Oxides: Extensive Met Work Completed Marimaca has completed rigorous met testing on materials across the deposit Tests completed on materials from across the full extent of the deposit and addressed all defined → For personal use only mineral subzones Seven extensive phases of met testing c
Slide 14: Marimaca: Two-Pronged Strategy
Marimaca: Two-Pronged Strategy Exploration and Development in Parallel Continued de-risking of the MOD - Project permit submitted – target FID in H1 2026 Project - Phase 7 metallurgical program near complete For personal use only Advancement - Water supply engagement complete – water option agreemen
Slide 15: Complementary Resources: District Scale Potential
Complementary Resources: District Scale Potential Strong ‘repetition’ style discovery potential Cindy Target: Compelling complimentary resource 30-40Mt at 0.3-0.4% CuT Roble Target: potential adding leachable resources to 20-30Mt at 0.2-0.3% CuT the MOD production capacity For personal use only Cedr
Slide 16: Complementary Resources: Sierra de Medina Region
Complementary Resources: Sierra de Medina Region Compelling district scale potential through exploration Sierra de Medina Claim Block Geological Setting For personal use only Cachorro: 3,000kt Contained Cu 300 Mt at 1.0% Cu Pampa Medina & Madrugador Marimaca Oxide Deposit Pampa Medina & Madrugador:
Slide 17: Complementary Resources: Sierra de Medina Region
Complementary Resources: Sierra de Medina Region Compelling district scale potential through exploration Pampa Medina & Madrugador Acquisitions For personal use only → o Both located ~25km from the planned MOD processing plant as defined in the ongoing DFS → o High grade, shallow, open-pitable histo
Slide 18: Complementary Resources: Pampa Medina
Complementary Resources: Pampa Medina Priority drilling target for 2025 For personal use only CHILE’S NEW COPPER DISCOVERY 18 Advancing Development With District Scale Potential
Slide 19: Marimaca: Summary
Marimaca: Summary Advancing Development & Outstanding Potential → A unique development stage copper asset with a clear development pathway • Release of MOD DFS targeted for Q2 2024 and Integration Study by Stantec with Tier 1 Location Pampa Medina is underway For personal use only • Confirmation of
Slide 20: Appendices
For personal use only Appendices CHILE’S NEW COPPER DISCOVERY 20 Advancing Development With District Scale Potential
Slide 21: Experienced Board
Experienced Board Experienced and Leading explorational, Deep experience in invested Board and regional and financial copper and Chile management team experience For personal use only Michael Haworth Hayden Locke Clive Newall Tim Petterson Non-Executive Chairman CEO, President & Director Non-Executi
Slide 22: Experienced Management
Experienced Management Experienced and Leading explorational, Deep experience in invested Board and regional and financial copper and Chile management team experience For personal use only Hayden Locke Sergio Rivera Jose Antonio Merino Nico Cookson CEO, President & Director Vice President of Explora
Slide 23: Corporate Structure
Corporate Structure LTM share price performance C$6.00 140,000 C$5.50 120,000 C$5.00 For personal use only 100,000 C$4.50 80,000 C$4.00 60,000 C$3.50 40,000 C$3.00 C$2.50 20,000 C$2.00 0 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 Capital Structure Board Analyst Coverage Stock Exchange TSX “MAR
Slide 24: 2023 Mineral Resource Estimate
2023 Mineral Resource Estimate Cut-off Measured Indicated Measured + Indicated Inferred grade (% CuT) Quantity Quantity Quantity Quantity CuT [%] CuS [%] CuT [%] CuS [%] CuT [%] CuS [%] CuT [%] CuS [%] For personal use only kt kt kt kt 0.40 44.0 0.77 0.44 37.5 0.69 0.38 81.6 0.73 0.41 12.1 0.64 0.24
Slide 25: 2023 Mineral Resource Estimate by Mineralization
2023 Mineral Resource Estimate by Mineralization Mineral Resource Category and Quantity CuT CuS CuT CuS Type (kt) (%) (%) (t) (t) Measured Brochantite 31,293 0.62 0.45 194,890 141,442 For personal use only Chrysocolla 24,252 0.44 0.33 105,594 79,863 Wad/Black oxides 10,727 0.29 0.15 30,599 16,116 Mi
Slide 26: Marimaca Copper – Commitment to Sustainability
Marimaca Copper – Commitment to Sustainability Health, Safety and Security Constructive Stakeholder The health, safety and wellbeing of our Engagement employees is at the forefront of We value the trust and support from our For personal use only everything we do. We implement the local stakeholders.
Slide 27: For personal use only
For personal use only CHILE’S NEW COPPER DISCOVERY Advancing Development With District Scale Potential CHILE’S NEW COPPER DISCOVERY 27 Advancing Development With District Scale Potential