Saturn Metals Ltd. · ASX:STN
Saturn Metals — Resource Rising Stars Twilight Series (July 2025)
24 slides from Saturn Metals's conference presentation, Jul 29, 2025
Slide 1: Apollo Hill Heap Leach Gold: Feasibility, Development Plans & Exploration
Apollo Hill Heap Leach Gold For personal use only Feasibility, Development Plans & Exploration 29 & 30 July 2025 Company Presentation: Ian Bamborough ASX:STN www.saturnmetals.com.au Managing Director
Slide 2: Apollo Hill 'Greater' Gold Project: Large Strategically Located Assets
Apollo Hill ‘Greater’ Gold Project Large Strategically Located Assets • Central position in a world class multi-million ounce gold province 60km south-east of Leonora in Western Australia For personal use only • 2.24Moz JORC Compliant Mineral Resource1 in a single large deposit – 82% Measured & Indi
Slide 3: Corporate Snapshot
Corporate Snapshot Strong Register – Compelling Value Corporate Metrics & Share Structure Assets Cash at 30 June 2025 $27.2M EV/Resource oz $78 For personal use only 1 Ordinary Shares on Issue 459M Mineral Resources – Apollo Hill Gold Deposit 2.24Moz 2 Unquoted Options & Performance Rights 26M Apoll
Slide 4: Long Term Strategic Sized Asset With Clear Growth Potential
Long Term Strategic Sized Asset With Clear Growth Potential At Scale: 2.24Moz Resource against St George’s Terrace (Perth, WA) For personal use only 234m 2,550m ASX:STN | www.saturnmetals.com.au 4
Slide 5: Apollo Hill – 2.24Moz Au Resource; 82% Measured & Indicated
Apollo Hill – 2.24Moz Au Resource; 82% Measured & Indicated Big, Single, Simple, Low Strip, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell For personal use only Note: Details of the Mineral Resource breakdown by category are presented in Appendix A, Slide 23. | 1. Mineral Resource publis
Slide 6: Apollo Hill Mineral Resource Ounces with Time
Apollo Hill Measured, Indicated & Inferred Mineral Resource Ounces with Time Reliable Growth & Quality Improvement For personal use only 2,500,000 2,239,000 2,030,000 2,000,000 1,839,000 1,469,000 1,500,000 Ounces Gold 944,000 1,000,000 781,000 685,000 505,000 500,000 - 2017 2018 2019 2021 2022 2023
Slide 7: Apollo Hill July 2025 Mineral Resource & Whittle Shell
Apollo Hill July 2025 Mineral Resource & Whittle Shell $3,550 Scalability Low Strip Life of Mine For personal use only Thick ore zones +100m Bulk tonnage Bigger selective mining units, economies of scale and lower operating cost (10m benches); Big Equipment Expanded pit shell to 330m – mod
Slide 8: Simple Metallurgy – Apollo's Biggest Cost Differentiator
Simple Metallurgy – Apollo’s Biggest Cost Differentiator Excellent Gold Extraction Characteristics for Easily Recoverable Gold HEAP LEACHING: Efficient & Excellent Low-Cost Recovery Route For personal use only Gold Grains +78% gold recovery in columns at completion at 8mm Crush +88% gold recover
Slide 9: 2023 Preliminary Economic Assessment
2023 Preliminary Economic Assessment Production Target – 1.63Moz via Conventional Heap Leach Circuit Initial Target: 10Mtpa for 10 years from former 1.84Moz Au Mineral Resource For personal use only Life of mine production totals 93.9 Mt at 0.54 g/t for 1,636,000oz of contained gold Average wast
Slide 10: Preliminary Economic Assessment – A Margin & Volume Proposition
Preliminary Economic Assessment – A Margin & Volume Proposition Low Cost Per Ore Tonne (A$24/t) = Significant Margin on a Large Volume (10Mtpa) – Bulk Mining & Processing Delivers Economies of Scale For personal use only • C1 Cost A$1,730/oz (US$1,090/oz) • ASIC A$1,857/oz (US$1,170/oz) • Mining A$4
Slide 11: Preliminary Economic Assessment: Robust Financials
Preliminary Economic Assessment Robust Financials at A$2,665/oz (US$1,679)*0.63 Exchange Gold base case, a Healthy Margin At more recent gold prices (A$3,500/oz), the Project Gold Price A$/oz 2,665 demonstrates outstanding financial outcomes including: Project EBITDA For personal use only A$M 1,038
Slide 12: Resource Comparison
Resource Comparison Peer Group Soledad Mountain, USA Andean Precious Metals Florida Canyon, USA Current Resources firmly place Apollo Hill, AUS Integra Resources Saturn Metals For personal use only Apollo Hill in bulk tonnage economic space: Moss, USA Grade Golden Vertex Corp Scale Tujuh Bukit,
Slide 13: Pre-Feasibility Study
Pre-Feasibility Study Targeting December Quarter 2025 Delivery • Globally renowned Heap Leach specialist engineering services Solution and Mining Offices and Workshops firm, Kappes Cassiday & Associates completing PFS Storm Water Ponds Waste Dump For personal use only • Development focussed, operati
Slide 14: Recent Excellent Results – Apollo Hill Main Zone
Recent Excellent Results – Apollo Hill Main Zone Extensional and In-fill Focused Drilling Thick and higher-grade intersections from reverse circulation drilling include: • 36m @ 1.92g/t Au from 335m including 22m @ 3.08g/t Au from 335m – AHRC1143 For personal use only • 27m @ 4.05g/t Au from 53m inc
Slide 15: New Iris Zone – Recent Excellent Results
New Iris Zone – Recent Excellent Results on Major Footwall Geological Structure Clear Exploration Potential – Ongoing Drilling in Progress – Assays Pending All Intersections included in July Mineral Resource For personal use only • 11m @ 6.29g/t Au from 69m within 38m @ 2.18g/t Au from 48m – AHRC119
Slide 16: Multiple Higher-Grade Intersections – Reported to the ASX with Time
Multiple Higher-Grade Intersections – Reported to the ASX with Time Lode Gold Architecture 12m @ 9.98g/t & 16m @ 6.35g/t within 11m @ 3.28g/t – 27m @ 4.05g/t - AHRC312 AHRC1220 7m @ 12.38g/t within JANUARY 2020 JUNE 2025 14m @ 6.38g/t - AHRC1174 13m @ 3.60g/t inc. JUNE 2025 8m @ 5.62g/t – For person
Slide 17: Bulk Mining Approach Captures More Drill Intersections
Bulk Mining Approach Captures More Drill Intersections ‘Gold between the Lode Gold Architecture’ Drill Intersections between higher grade block architecture become Mineral Resource where drill holes form Blocks >0.2g/t Au (see Slide 5 ) ) For personal use only 3D Oblique View Illustration shows: 250
Slide 18: Targeting Resource Growth
Targeting Resource Growth 35,000m RC and diamond planned up to December 2025 Targeting Interpreted Strike Extensions, Geological Structure Intersections and Drilling Gaps For personal use only 250m 3D Oblique View Illustration shows: GDA 94 Z51 July 2025 Mineral Resource Block Model >0.75g/t Au July
Slide 19: Regional Opportunities
Regional Opportunities Greenfield Target Areas • ~1,000km2 land package, large continuous gold system, large tracts of ground still untested, Further regional exploration drilling planned For personal use only Murrin East Sunrise Dam Apollo Hill 2.24Moz Au Mineral Resource Ulysses Aquarius Second Fo
Slide 20: Development Plan
Development Plan Timeline To Full-Scale Production 2025 2026 2027 2028 For personal use only Pre-Feasibility Study Definitive Feasibility Study Full Scale Operations *subject to permitting, approvals, funding & investment decision Financing & Procurement Regulatory Approvals Construction & Commissio
Slide 21: Stage Mining and Heap Leach Processing Considerations
Stage 1 Mining and Heap Leach Processing Considerations Initial Consideration of Staged Development Concepts • Modelling indicated potential merit in a Stage 1 development For personal use only concept if mining and primary processing could be outsourced to a contractor(s) with appropriate skills an
Slide 22: Important Information Disclaimer & Competent Person Statements
Important Information Disclaimer & Competent Person Statements GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believes ar
Slide 23: Appendix A: Mineral Resource – Apollo Hill Gold Deposit
Appendix A Mineral Resource – Apollo Hill Gold Deposit Mineral Resource Tonnes Au Au metal Classification Oxidation (Mt) (g/t) (Kozs) Oxide 0.04 0.70 1 For personal use only Measured Transitional 1.3 0.57 24 Fresh 3.5 0.52 59 Subtotal 4.8 0.54 83 Oxide 0.7 0.51 11 Indicated Transitional 7.1 0.50 113
Slide 24: Appendix B: Resource Comparison – Peer Group Data
Appendix B Resource Comparison – Peer Group Data Mineral Resource Measured Indicated Inferred Total Source Company Desposit Stage Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces For personal use only 1 Kinross Gold Corporation Bald Mountain Production 7,131,000 0.90 2
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