Pantoro Gold Limited · ASX:PNR
Pantoro Gold — Corporate Update (September 2026)
30 slides from Pantoro Gold's corporate update, Sep 21, 2026
Slide 1: Operations Update & North American Roadshow Presentation
ASX ANNOUNCEMENT 21 SEPTEMBER 2026 Operations Update & North American Roadshow Presentation Pantoro Gold Limited (ASX:PNR) (Pantoro Gold or the Company), a WA-based gold producer focused on unlocking the full potential of its 100%-owned Norseman Gold Project (Norseman or the Project), is pleased to
Slide 2: North American Road Show
ASX:PNR North American Road Show September 2026
Slide 3: Important Notes
Important Notes Nature of Document. This presentation has been prepared and issued by Pantoro Limited (Pantoro or Company) to Forward Looking Statements and future performance This presentation contains forward looking statements about provide general information about Pantoro. Pantoro. Often, but n
Slide 4: Important Notes (Continued)
Important Notes (Continued) Past performance. Past performance metrics and figures (including past share price performance of Pantoro), as For the purposes of ASX Listing Rule 5.19, Pantoro confirms that all material assumptions underpinning the well as pro forma financial information, included in t
Slide 5: Norseman is a simple production story
Norseman is a simple production story A single processing facility, supported by high grade ore sources forming a large 4.6Moz Mineral Resource High grade ore sources processed at a central production facility Production underpinned by a large Resource base 90-105 koz1 A$2,800-3,400/oz1 (US$1,988 –
Slide 6: A differentiated, high-grade gold producer
A differentiated, high-grade gold producer Norseman is one of the highest-grade operations in Australia and has significant exploration upside Disciplined, cash flow-focused model Large and prospective land package Strong emphasis on capital discipline and free cash flow Substantial and contiguous t
Slide 7: Corporate overview
Corporate overview A highly experienced Board and Executive Leadership Team, coupled with a simple capital structure Corporate Profile Capital Structure Board of Directors As at 17 September 2026 Share price $/sh 2.61 1 Paul Cmrlec Managing Director and CEO Fully-diluted shares on issue # 394.1 Mark
Slide 8: Delivery this quarter is the immediate focus
Delivery this quarter is the immediate focus Setting up FY27 for success with a strong first quarter to date Production is tracking well: Production from Norseman quarter to date is on track to guidance 19,130 ounces as of 19 September 2026.1 Green Lantern now producing: The second open pit operatio
Slide 9: Operating, improving, growing
Operating, improving, growing Focused on maintaining operational discipline with a goal to constantly improve and grow output Operating King of the Hills Laverton Granny Smith High grade mining fronts • Three high-grade producing deposits in Scotia, OK and Gladstone. Kalgoorlie • All ore sources wit
Slide 10: Three producing areas feed the Norseman mill
Three producing areas feed the Norseman mill Pantoro is progressing mine development and drilling across the Norseman tenement package • Processing is currently running comfortably at 800 km2 Hinemoa Norseman Processing Processing 1.2Mtpa with excellent recovery of 95%. tenure Facility • Ready to up
Slide 11: 6Moz Au produced from Norseman tenure to date
6Moz Au produced from Norseman tenure to date WORLD-CLASS GREENSTONE BELT HIGHLY PROSPECTIVE GEOGRAPHY SIGNIFICANT EXPLORATION UPSIDE Pantoro Gold’s tenure is situated in the southern end The area south of Kambalda is highly prospective, Pantoro Gold’s Norseman tenure is a significant of the most go
Slide 12: Pathway to 200koz production
Pathway to 200koz production Through organic development of existing ore sources, unlocking higher feed grades and prioritising cash flow, Pantoro remains on track to deliver its long-term aspirational targets 2026 2027 Long-term Deliver on guidance Optimise mill capacity Become a 200kozpa producer
Slide 13: Processing plant recoveries remain very strong
Processing plant recoveries remain very strong Norseman annual production (koz, recovered) Sensitivity on grade and processing rate Power Station Crushing Circuit 1.2Mtpa 1.5Mtpa CIL Tanks ~200kozpa target achieved 367 321 293 275 257 229 220 206 Mill 183 183 160 165 137 128 147 115 110 92 Fine Ore
Slide 14: Operations
Operations x
Slide 15: OK Underground Mine
OK Underground Mine • Ore Reserve has increased every year since mining commenced, despite ongoing depletion • Producing in steady state • Large extensional exploration drilling program underway and set to continue OK for all of FY26 and FY27 • Drilling extensions in both the Star of Erin and O2 lod
Slide 16: Off to the Races……
Off to the Races…… High-grade zone expanded by ongoing drilling Discovery of high-grade ore at Racetrack • 4.94 m @ 349.14 g/t inc. 0.91 @ 1,737.37 g/t and 0.43 m @ 80.67 g/t. • 20.36 m @ 15.55 g/t inc. 5.94 m @ 43.1 g/t. • 8.00 m @ 28.68 g/t Au inc. 1.00 m @ 189.84 g/t Au. • 5.00 m @ 28.73 g/t Au i
Slide 17: Off to the Races……
Off to the Races…… High-grade zone expanded by ongoing drilling Bullen Mine produced approximately 500,000 Oz @ 10g/t Long section of Racetrack drilling with Bullen development overlaid for scale • Racetrack is a cross-linking structure with analogues to the Bullen deposit. Plan view of OK mine and
Slide 18: Scotia Underground Mine
Scotia Underground Mine • Development of the South decline commenced May 2024 • Historic decline now rehabilitated providing two mine accesses • Now actively developing and producing ore from 3 Additional development areas for the first time – and production in Scotia Central Scotia, Scotia South mi
Slide 19: Scotia – Open in all Directions
Scotia – Open in all Directions Scotia Refer to ASX release on 28 April 2026 for details. 18
Slide 20: Green Lantern Open Pit
Green Lantern Open Pit • Clearing completed and grade control drilling well under-way. • Mining commenced during August 2026. Scotia Pit • Long-life lower grade open pit providing high volume mill feed and ore stockpiles to secure Green Lantern Stage 1 production profile. (Completed) • Mining to gen
Slide 21: Gladstone – Daisy Mining Area
Gladstone – Daisy Mining Area • Gladstone lies approximately 8 km East of the Norseman processing plant • GEV mining area Schedule now 526,000t @ 3.42 g/t Au for 58,000 oz with inclusion of Stage 3. Gladstone • Approximately 20,000 ounces in FY27 with remainder in FY28 and FY29. • Current life to Au
Slide 22: Gladstone Open Pit – Stage 3 Grade Control
Gladstone Open Pit – Stage 3 Grade Control • Stages 1 and 2 are substantially completed. • Waste stripping Stage 3 underway • Two years of pit life remaining, with an Gladstone additional fourth stage under consideration. Refer to ASX release on 16 March 2026 for details. 21
Slide 23: Growth
Growth Exploration and upside x
Slide 24: Mainfield – Major Opportunity
Mainfield – Major Opportunity Mainfield is the most prolific mining area at Norseman Crown/ to date Mararoa St Pats • Initial mining areas focused on zones easily accessed from existing infrastructure. Mainfield • Very high-grade mineralisation encountered by 6km Crown Pantoro. South • Underground d
Slide 25: Mainfield Plan View
Mainfield Plan View 1 ,7 50m O pen 350m 300m Open 1700m 24
Slide 26: Crown Reef – historical production 1.1 Moz @ 11.2g/t
Crown Reef – historical production 1.1 Moz @ 11.2g/t Longview of Crown Reef Refer to ASX release on 31 July 2021 for further details. 25
Slide 27: Strong Initial Results in Butterfly
Strong Initial Results in Butterfly • Ore development planned during FY27. • Excellent strike rate in initial drilling Mainfield • Mineralisation only 70m from exploration decline – easy access • Decline can be extended at any time with known mineralisation extending approximately 1.5km south of the
Slide 28: Greenfield Exploration Underway
Greenfield Exploration Underway Opportunities over 2km of strike • On Lake exploration has been extremely limited in Norseman with a short Hinem oa campaign by Western mining Between Leeders 1990 and 1992. Killahoe Hill Snapper Davros Tuna • Resulted in the discovery of Harlequin Dhufish B uldania S
Slide 29: Investor Enquiries
Investor Enquiries: Paul Cmrlec Managing Director admin@pantoro.com.au +61 8 6263 1000 Media Enquiries: Sam Macpherson Vector Advisors smacpherson@vectoradvisors.au +61 401 392 925 www.pantoro.com.au ASX: PNR
Slide 30: Mineral Resource & Ore Reserve
Mineral Resource & Ore Reserve Pantoro Global Mineral Resource Measured Indicated Inferred Total kt Grade koz kt Grade koz kt Grade koz kt Grade koz Norseman Gold Project 4,946 2.4 374 19,084 3.1 1,898 19,155 3.8 2,327 43,194 3.3 4,601 Total 4,946 2.4 374 19,084 3.1 1,898 19,155 3.8 2,327 43,194 3.3