Lightning Minerals Limited · ASX:L1M
Lightning Minerals — Investor Presentation (November 2025)
31 slides from Lightning Minerals's investor presentation, Nov 18, 2025
Slide 1: Advanced Exploration in Australia: Gold and Copper Today. Lithium Tomorrow
For personal use only Au Gold Li Lithium Cu Copper ADVANCED EXPLORATION IN AUSTRALIA GOLD AND COPPER TODAY. LITHIUM TOMORROW ASX:L1M ASX : L1M lightningminerals.com.au November 2025
Slide 2: Important Notice and Legal Disclaimer
Important Notice and Legal Disclaimer This presentation has been prepared by Lightning Minerals Ltd ACN 656 005 122 (‘Company’) to provide readers No representation or warranty, express or implied, is given as to the fairness, accuracy, completeness, correctness, with background information only to
Slide 3: Lightning Catalysts – Mt Turner Project Our Focus
Lightning Catalysts – Mt Turner Project Our Focus BROWNFIELDS GOLD AND BASE METALS – GROWING THE MT TURNER SYSTEM NEAR-TERM CATALYSTS – MT TURNER For personal use only 100% of drill holes in first program intersected Precious and Base Metals (Completed October 25) Phase 2 drill planning underway acr
Slide 4: Brownfields Gold and Copper Opportunities
Brownfields Gold and Copper Opportunities DRILL READY TARGETS WITH SIGNIFICANT POTENTIAL IN QUEENSLAND AND NEW SOUTH WALES For personal use only QUEENSLAND Two projects (Mt Turner and Warby Scardon) in the highly prospective Georgetown Inlier in the North Queensland Region covering 829km2 Strong res
Slide 5: Capital Structure and Team
Capital Structure and Team For personal use only $0.043 $8.6M $1.2M 199M 72M 46M Share Price Market Cap Cash Shares on Issue Options Performance Rights (17 November 2025) (17 November 2025) (30 September 2025) (30 September 2025) (30 September 2025) (30 September 2025) David Vilensky Alex Biggs Crai
Slide 6: Mt Turner Gold, Copper and Base Metals
Mt Turner Gold, Copper and Base Metals TARGET RICH ENVIRONMENT WITH GRADE AND SCALE For personal use only • Location: Western Georgetown Inlier (Etheridge Goldfield), Far North Queensland • Mining history: Six shallow oxide pits mined in the 1990s along the Drummer Fault • Scale: Drummer Fault is a
Slide 7: High Grade Gold Intersected at Mt Turner
High Grade Gold Intersected at Mt Turner SIGNIFICANT GOLD MINERALISATION CONFIRMED - 20.4m @ 2.4g/t Au (from 63m) inc 1.9m @ 10.5g/t Au3 Depth From Depth To Interval Au Ag Zn Pb Hole ID Prospect Hole Type For personal use only • High Success Rate: 9-hole inaugural program (m) (m) (m) (g/t) (g/t) (%)
Slide 8: High Grade Gold Intersected at Mt Turner
High Grade Gold Intersected at Mt Turner SIGNIFICANT GOLD MINERALISATION CONFIRMED - 20.4m @ 2.4g/t Au (from 63m) inc 1.9m @ 10.5g/t Au3 For personal use only Cross-section of Hole 25L1MP3DD001 and historic hole 21ISMP3RC001 Cross-section and plan view of Hole 25L1MP5DD001 (Drummer West - Pit 3) (Dr
Slide 9: High Grade Gold Intersected at Mt Turner
High Grade Gold Intersected at Mt Turner GOLD MINERALISATION CONFIRMED PIT 5 (DRUMMER GIRL) AND PIT 6 (ROCKY REWARD)1,2 For personal use only • Pit 5 (Drummer Girl) confirmed gold mineralisation • Located 800m west of Pit 3 (Drummer West) • Target for follow up drilling between Pit 3 and Pit 5 at de
Slide 10: Base Metal Potential at Mt Turner
Base Metal Potential at Mt Turner COBAR PROSPECT CONFIRMS EXPLORATION THESIS AND MULTI-COMMODITY POTENTIAL2 Cobar Drill Core for Hole 25L1MCOBDD002 (27.1m downhole)C For personal use only • High-grade zinc, lead and silver at Cobar prospect • Cobar prospect located 1km south of Mt Turner porphyry an
Slide 11: Base Metal Potential at Mt Turner
Base Metal Potential at Mt Turner COBAR PROSPECT CONFIRMS EXPLORATION THESIS AND MULTI-COMMIDITY POTENTIAL2 For personal use only Cross-section of Hole 25L1MCOBDD001 (Cobar) Cross-section of Hole 25L1MCOBDD002 (Cobar) ASX : L1M 11 Plans - Appendix 2b
Slide 12: Multiple Drill Targets Defined at Mt Turner
Multiple Drill Targets Defined at Mt Turner SOIL AND ROCK CHIP SAMPLING AT MT TURNER HAS DEFINED MULTIPLE DRILL TARGETS For personal use only • Peak rock chip assays up to 21.9g/t1 • Extension of known mineralisation 2.7km west of Pit 6 (Rocky Reward) • Multiple target areas confirmed for follow up
Slide 13: Mt Turner Exploration Thesis
Mt Turner Exploration Thesis EXPLORATION THESIS IDENTIFIES POTENTIAL FOR SCALE AND MULTI-COMMODITY SYSTEM For personal use only • Drummer Fault • 14-kilometer structure, epithermal breccia hosted mineralisation confirmed by drilling in three widespread locations, anomalous soil geochemistry and magn
Slide 14: Lachlan Fold Belt – Large Scale Copper Porphyry Potential
Lachlan Fold Belt – Large Scale Copper Porphyry Potential SIGNIFICANT CU-AU INTERSECTIONS UP TO 48M @ 0.35% CU AND 0.31G/T AU INDICATES SCALE POTENTIAL5 For personal use only Three Projects in the prolific Lachlan Fold Belt in New South Wales: Boree Creek/Dairy Hill, Burdett and Manildra Region is h
Slide 15: Warby Scardon Project
Warby Scardon Project MULTIPLE ADDITIONAL HIGH PRIORITY GOLD, COPPER AND BASE METAL TARGETS For personal use only The Warby-Scardon Gold project includes two tenements covering 627km2 The projects are prospective for Gold, Silver and Base Metals located in the prospective Warby and Scardon Caldera c
Slide 16: Lachlan Fold Belt – Corryong Project
Lachlan Fold Belt – Corryong Project SIGNIFICANT COPPER AND GOLD POTENTIAL IN AN UNDER EXPLORED REGION For personal use only Location: The Corryong Project is located in the Lachlan Fold Belt on the Victorian side of the NSW-Victoria border Licence: The project was granted in July 2025 (EL008345) De
Slide 17: Esperança, Caraíbas and Canabrava Projects
Esperança, Caraíbas and Canabrava Projects MULTIPLE EMERGING DRILL TARGETS IN BRAZIL’S LITHIUM VALLEY11 For personal use only Location 4,400 Ha in the prolific Eastern Brazilian Pegmatite Province “Lithium Valley” of Minas Gerais 20km south of Pilbara Minerals’ (ASX: PLS) Colina project (70.9Mt @ 1.
Slide 18: We Still Believe in the Longevity of the Lithium Thematic. And Brazil
We Still Believe in the Longevity of the Lithium Thematic. And Brazil For personal use only TAKING A LONGER-TERM OUTLOOK ON LITHIUM Policy Driven Change Mass Adoption A substantial rise in critical minerals is needed to swiftly By 2035, more than half of new passenger vehicles sold deploy clean ener
Slide 19: Esperança, Caraíbas and Canabrava Targets
Esperança, Caraíbas and Canabrava Targets MULTIPLE HIGH PRIORITY DRILL TARGETS – TARGET GENERATION CONTINUES For personal use only Esperança Project Caraíbas Project Canabrava Project Maiden program completed (1,442m) Soil results support ongoing vectoring. Up to Soil results support ongoing target
Slide 20: Timeline of Work
Timeline of Work use only Q1 26 Q2 26 Q3 26 Q4 26 Mt Turner project target generation Mt Turner project drilling Mt Turner project drilling Mt Turner project drilling Lachlan Fold Belt drilling Mt Turner gold project target generation QLD & Mt Turner gold project target generation Mt Turner gold pro
Slide 21: Invest in Lightning
Invest in Lightning WORLD-CLASS ASSETS Strong Asset Base Driving Growth Proven regions in Australia and Brazil near key projects and For personal use only discoveries offering stability and optionality PORTFOLIO SYNERGY Major Resource definition opportunity at Mt Turner (Gold and Copper), Lithium op
Slide 22: For personal use only
For personal use only Au Li Gold Lithium Cu Copper For more information contact Alex Biggs Managing Director alex@lightningminerals.com.au ASX:L1M lightningminerals.com.au ASX : L1M Authorised by the Board of Directors
Slide 23: Appendices
For personal use only ASX : L1M Appendices
Slide 24: Appendix – Mt Turner Significant Intersections
Appendix 1 – Mt Turner Significant Intersections SIGNIFICANT INTERSECTIONS OF GOLD AND BASE METALS For personal use only Depth From Depth To Interval Au Ag Zn Pb Hole ID Prospect Hole Type (m) (m) (m) (g/t) (g/t) (%) (%) 25L1MP3DD001 Pit 3 (Drummer West) Diamond 62 82.4 20.4 2.4 14.3 Including 77 78
Slide 25: Appendix 2a – Mt Turner Drill Plans
Appendix 2a – Mt Turner Drill Plans DRUMMER WEST (PIT 3) AND DRUMMER GIRL (PIT 5) For personal use only Plan view of Hole 25L1MP3DD001 and historic hole 21ISMP3RC001 Plan view of Hole 25L1MP5DD001 (Drummer West - Pit 3) (Drummer Girl - Pit 5) ASX : L1M 25
Slide 26: Appendix 2b – Mt Turner Drill Plans
Appendix 2b – Mt Turner Drill Plans DRUMMER GIRL (PIT 5) AND COBAR For personal use only Plan view of Holes 25L1MP5DD001, 25L1MP5DD002 and 25L1MP5DD003 Plan View of Hole 25L1MCOBDD001 and 25L1MCOBDD002 (Drummer Girl – Pit 5) (Cobar) ASX : L1M 26
Slide 27: Appendix 2c – Mt Turner Drill Plans
Appendix 2c – Mt Turner Drill Plans ROCKY REWARD (PIT 6) For personal use only Cross-section of Hole 25L1MP6DD002 Cross-section of Hole 25L1MP6DD001 (Rocky Reward – Pit 6) (Rocky Reward – Pit 6) ASX : L1M 27
Slide 28: Appendix 2d – Mt Turner Drill Plans
Appendix 2d – Mt Turner Drill Plans ROCKY REWARD (PIT 6) Plan view of Holes 25L1MP6DD001 and 25L1MP6DD002 (Rocky Reward– Pit 6) For personal use only ASX : L1M 28
Slide 29: Appendix 2e – Mt Turner Drill Plans
Appendix 2e – Mt Turner Drill Plans MT TURNER DRILL PLAN – OCTOBER 2024 For personal use only ASX : L1M 29
Slide 30: Appendix – Non-Core Assets
Appendix 3 – Non-Core Assets • Tenement centred 30km east-southeast of Leonora For personal use only • Jindalee/Newmont JV drilling in 2003 Mailman Hill Western Australia Au • • Drilling and sampling up to 2015 provided anomalous results Directly south of Cavalier Resources' Crawford Gold project Go
Slide 31: Appendix – Relevant Announcements
Appendix 4 – Relevant Announcements Lightning Minerals’ Announcements For personal use only 1ASX announcement 17 November 2025 – Final Assays Confirm Extension of Gold System at Mt Turner 2ASX announcement 10 November 2025 - More High-Grade Gold & Base Metals at Mt Turner Project 3ASX announcement 2
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