Ausgold Limited · ASX:AUC
Ausgold — Investor Presentation (December 2025)
25 slides from Ausgold's investor presentation, December 2025
Slide 1: Katanning Gold Project, WA – Clearing the Way
Katanning Gold Project, WA Clearing the Way Strong Gold Production and Excellent Financial Returns over a +10-Year Mine Life DFS Update John Dorward, Executive Chairman December 2025 ASX: AUC FRA: AU4
Slide 2: Disclaimer – Important Information
Disclaimer Important Information The following notice and disclaimer applies to this investor presentation (“Presentation”) and you are therefore advised to read this carefully before reading or making any other use of this Presentation or any information contained in this Presentation. By accepting
Slide 3: Disclaimer – Forward looking statements and forecasts
Disclaimer Forward looking statements and forecasts This Presentation contains certain “forward-looking statements” and comments about future matters. Forward-looking statements can generally be identified by the use of forward-looking words such as, “expect”, “anticipate”, “likely”, “intend”, “shou
Slide 4: Corporate Overview
Corporate Overview Capital Structure Share Price $1.20 6 Shares on Issue (M) 496.1 Unlisted Options (@ A$0.40-0.80) (M) 3.6 $1.00 5 Unlisted Warrants (@ A$0.30) (M) 6.0 $0.80 4 Performance Rights (M) 12.2 $0.60 3 Share Price (16-Dec-25) (A$/s) $1.04 $0.40 2 Market Capitalisation (A$M) $516 Cash (30-
Slide 5: Long-life, low-risk operation in a Tier-1 jurisdiction
Long-life, low-risk operation in a Tier-1 jurisdiction • Land Access achieved = Significant De-risking Event • Initial +10-year open pit mine in the Tier-1 mining district of Western Australia • Post-tax cashflow of A$1.50B, NPV5 of A$1.03B and IRR of 52.4% at a gold price of A$4,300/oz • Rapid payb
Slide 6: Katanning Dec-25 DFS Update Highlights
Katanning Dec-25 DFS Update Highlights1 Australia’s next major gold mine transitioning to development DFS Update LOM Production Profile Robust Resource Significant and Reserves Production Mineral Reserve: 1.33Moz @1.11g/t Initial 4 years delivering an average of Pit Constrained at a A$3,000/oz gold
Slide 7: Project Costs and Economics
Project Costs and Economics Robust Costs Underpin Outstanding Economics Average Annual Outcomes Unit Years 1-4 Years 1-10^ Waste Mined Ktpa 31,836 25,802 Ore Mined Ktpa 4,016 3,719 Mining Total Material Moved Ktpa 35,852 29,522 Strip Ratio Waste:Ore 7.93 7.02 Ore Processed Ktpa 3,569 3,647 Processin
Slide 8: Katanning – Low-Cost Production
Katanning – Low-Cost Production Positioned in the Lower Half of the Cost Curve Cost Curve – Australia and New Zealand Gold Mines Quartile 1: Quartile 2: Quartile 3: Quartile 4: A$1,226 – A$2,126 A$2,126 – A$2,380 A$2,380 – A$2,703 A$2,703 – A$3,687 Macraes 4,000 Mount Monger Murchison Duketon South
Slide 9: Updated Mineral Resource Estimate: More robust, more rigorous, ready for mining
Updated Mineral Resource Estimate: More robust, more rigorous, ready for mining June 2025 MRE of 69Mt @ 1.11g/t Au for 2.44Moz Constrained to A$4,500/oz optimised pit shell Cut-off grade of 0.35g/t Au supported by DFS Update financial modelling • More conservative pit shell constraint versus previou
Slide 10: Dec-25 DFS Update Ore Reserve: More robust, more rigorous, ready for mining
Dec-25 DFS Update ore Reserve: More robust, more rigorous, ready for mining CONTAINED • Updated Ore Reserve of 37.54Mt at 1.11g/t Au for CATEGORY TONNES (MT) GRADE (G/T AU) GOLD (OZ) 1.33Moz PROVED 29.1 1.14 1,070.0 • Significantly de-risked with ~83% classified as Proven CENTRAL PROBABLE 5.4 0.96 1
Slide 11: Processing: Straightforward 3.6Mtpa CIL Gold Plant
Processing: Straightforward 3.6Mtpa CIL Gold Plant • Conventional single stage crush, SAG and ball mill configuration to produce 80% passing 75 µm • Gravity recoveries of 25% LOM • Hybrid CIL circuit comprising two leach tanks and six CIL adsorption tanks • Design criteria facilitates future plant e
Slide 12: Transformative Land Acquisitions Pave Way for KGP to Move Forward
Transformative Land Acquisitions Pave Way for KGP to Move Forward • Aug-25 successful resolution of long-running legal action • Dec-25 DFS Update incorporates additional material now available for mining • Large land acquisition allows significant flexibility and increases Life of Mine gold producti
Slide 13: Progression of land holdings over the past 12 months
Progression of land holdings over the past 12 months Jun-24 Sep-24 Jul-25 Aug-25 Oct-25 13
Slide 14: Multi-rig drilling program underway, targeting key areas
Multi-rig drilling program underway, targeting key areas Significant intercepts returned from Ausgold drilling within the Central Zone that will now be followed up include: • 16m @ 19.25g/t Au from 97m in BSRC0015 (Jinkas) • 6m @ 15.45g/t Au from 114m in BSRC0871 (Jinkas) • 26m @ 6.60g/t Au from 117
Slide 15: Next Steps: Resource Growth & De-risking
Next Steps: Resource Growth & De-risking Advancing the KGP toward development Ongoing drilling targeting growth and de-risking of Resource 1. Open Pit Growth ‘Low hanging fruit’ down-dip and down-plunge of Jinkas-White Dam lodes, where pit optimisations are constrained by drill density. This drillin
Slide 16: Next Steps: Resource Growth & De-risking
Next Steps: Resource Growth & De-risking • The modelled extensions are now being intersected in drilling, as confirmed in the first batches of drill results this campaign: ‒ 14m @ 6.18g/t Au from 181m including 5m @ 16.44g/t Au from 181m in BSRC1811 ‒ 10m @ 2.27g/t Au from 150m including 3m @ 6.59g/
Slide 17: Regional Exploration
Regional Exploration Large regional land package under Ausgold ownership • +3,000km2 of high-quality exploration tenure surrounding the KGP • Captures almost the entire Katanning Greenstone Belt and all known mineralised trends • Key regional trends include: • Stanley Thrust: A regionally significan
Slide 18: Next Steps: Growth through regional exploration
Next Steps: Growth through regional exploration Identify satellite resources proximal to the KGP Regional drilling is targeting the full exploration pipeline — from untested major soil anomalies through to establishing the first satellite Resource to complement the KGP 1. Nanicup Bridge - 40km SE of
Slide 19: Next Steps: Growth through regional exploration
Next Steps: Growth through regional exploration Identify satellite resources proximal to the KGP 2. Kraken Prospect (Farm-In) - 75km NE of the KGP, part of the overall Kulin Project. - Kraken boasts a 3km gold-in-soil anomaly (up to 399ppb Au) with surface trenching up to 31m @ 1.0g/t, but the targe
Slide 20: Permitting Underway
Permitting Underway Straightforward project in Tier 1 jurisdiction • Project footprint - designed to minimise clearing of high quality, protected eucalyptus woodland areas situated on the tenements. An integrated waste landform with a lined TSF reduces potential risks associated with the mining infr
Slide 21: Next Steps: Upcoming News Flow and Key Milestones
Next Steps: Upcoming News Flow and Key Milestones Advancing the KGP toward development • Lease of land signed in Nov-25 with the Shire of Katanning for Accommodation Village • Continued community engagement and consultation with local community groups • Early engineering works to allow ordering of l
Slide 22: On track to become Australia's next mid-tier gold producer
On track to become Australia’s next mid-tier gold producer High Quality Project Dominant Landholding Strong Team to Deliver Infrastructure • Open-pit • >3,000km2 of tenure • Track record of value-creation • Mining Permit • Straightforward CIL plant • Includes mineralised trends • Refreshed board wit
Slide 23: Ausgold Limited contact details
ASX: AUC FRA: AU4 John Dorward, Executive Chairman Ausgold Limited T: (08) 9220 9890 Level 1, 307 Murray Street, Perth WA 6000 info@ausgoldlimited.com www.ausgoldlimited.com 23
Slide 24: Appendix
Appendix 24
Slide 25: June 2025 Mineral Resource Estimate
June 2025 Mineral Resource Estimate GRADE RESOURCE CATEGORY TONNES (MT) CONTAINED GOLD (OZ) (G/T AU) MEASURED 41.6 1.14 1,531,000 INDICATED 21.2 1.02 693,000 INFERRED 5.9 1.16 219,000 TOTAL RESOURCE 68.6 1.11 2,443,000 For further details refer to ASX Announcement dated 30 June 2025. The Company con