Noronex Ltd. · ASX:NRX
Noronex — Investor Presentation (July 2025)
27 slides from Noronex's investor presentation, Jul 24, 2025
Slide 1: High-Impact Exploration in One of the World's Premier Emerging Copper Provinces
HIGH-IMPACT EXPLORATION IN ONE OF THE WORLD’S PREMIER EMERGING COPPER PROVINCES Hunting for a new generation of large-scale copper deposits in Namibia and Botswana in partnership with leading global miner South32 Investor Webinar Presentation | Victor Rajasooriar, Managing Director 24 July 2025 | AS
Slide 2: Disclaimer
Disclaimer Forward Looking Statements: ● This presentation may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no a
Slide 3: Key Value Drivers
Key Value Drivers ~10,000 km2 South32 $20 million Our extensive strategic licence Our Strategic Alliance partner – a A 5-year earn-in commitment holding in the Kalahari Copper global mining & metals company by South32 as part of the Belt – Namibia & Botswana with a diversified asset base expanded St
Slide 4: Corporate Overview
Corporate Overview Experienced Board & Management Capital structure Current Shares on Issue 565.5m Share Price A$0.013 Market Capitalisation $7.3m David Prentice Victor Rajasooriar Piers Lewis Robert Klug Non-Exec Managing Director Non-Executive Non-Executive Cash (31 March 2025) A$1.0m Chairman & C
Slide 5: Copper Landscape: Driven by Strong Fundamentals
Copper Landscape: Driven by Strong Fundamentals • Copper price up 14.6% over the year-to-date in 2025 to +US$10,000/t • Goldman Sachs predict a fundamental shift in copper market dynamics: • Forecast demand growth of 3.5% in 2026 • Mining output growth capped at 1.2% p.a. due to declining ore grades
Slide 6: New Copper Discoveries Critical to Meet Growing Demand
New Copper Discoveries Critical to Meet Growing Demand • Copper demand growing at over 3% per year as the world continues to decarbonise its energy production: • World will need more copper this decade than in the previous 150 years • Major shortage of new discoveries Source: BloombergNEF Transition
Slide 7: Kalahari District – A Major New Source of Copper Supply
Kalahari District – A Major New Source of Copper Supply Kamoa-Kakula (Ivanhoe) • No resources in the belt in 2008 – now ~8Mt Cu Commenced 2021, Production ramping up from 400ktpa to 650ktpa • Currently producing ~90ktpa of copper (~35% contained Copper Cu concentrate grade with Ag credits) Makoko (I
Slide 8: NRX – Strategic Position in this World-Class Copper Belt
NRX – Strategic Position in this World-Class Copper Belt • ~10,000km2 landholding in the Kalahari Copper Belt – one of the world’s last under-explored large-scale copper frontiers • Recently expanded Strategic Alliance with South32 provides strong technical, financial and strategic support • Outstan
Slide 9: Noronex – Strategic Landholding in the Kalahari Copper Belt
Noronex – Strategic Landholding in the Kalahari Copper Belt ASX:NRX PAGE 9
Slide 10: Humpback-Damara (JV with South32)
Humpback-Damara (JV with South32) • South32 can earn 60% by spending $15M over 5 years • Covers the northern thrust fault margin of the Kalahari Copper Belt • Several prospective domal structures evident • Strong initial results from RC drilling at Fiesta Project with follow-up diamond drilling now
Slide 11: Humpback – Fiesta Project (JV with South32)
Humpback – Fiesta Project (JV with South32) • Over 4.5km of anomalous copper drilled • Recent RC intercepts of: 45m @ 0.80% Cu & 23g/t Ag (23FIERC02) 1 30m @ 0.56% Cu & 62g/t Ag (24FIERC10) 1 16m @ 0.96% Cu & 33g/t Ag (24FIERC20) 1 33m @ 0.81% Cu & 31g/t Ag (25FIERC23) 2 • 1st DD hole (25FIE
Slide 12: Drilling Program FY26
Drilling Program FY26 • Oosterwald (south of Fiesta) – diamond drilling underway1 on a recently granted tenement (EPL 9932) • Hole is targeting a potentially buried domal position identified from an airborne Heli-EM target that has been interpreted as a conductive shale horizon Schematic model of Do
Slide 13: Drilling Program FY26
Drilling Program FY26 • Powerline Project (north-east of Oosterwald) – targeting large domal features • Historical limited drilling by Antofagasta and Sandfire identified anomalous copper zones containing silver, identifying regional targets (T1 to T16)1 • Plans underway to test the highly prospecti
Slide 14: Damara Project (JV with South32)
Damara Project (JV with South32) • Scout drilling completed at Otjiupehuri, Namibia • Utilising Central African Copper Belt margin models • Kamoa-Kakula sits on the basement in Congo • Barrick’s Lumwana deposit in Zambia is hosted in basement on contact: • 1Bt @ 0.6% Cu, 100ppm Co + Uranium • Copper
Slide 15: Botswana Tenements – A New Entry
Botswana Tenements – A New Entry • Two tenements, applied for (Jan 2025) and granted in Feb 2025, covering over 1,500km2 of previously unexplored terrane in Botswana • New tenements cover extensions of the basement complex to the north-east of Damara • South32 agreed to include the Botswana FY26 Foc
Slide 16: Cgae Cgae Project – Botswana
Cgae Cgae Project – Botswana • Initial soil sampling carried out to develop geological understanding of the area • BHP/Cobre carried out a seismic survey on their neighbouring ground, which extended some 5km into Noronex’s ground1 • Currently awaiting the raw data from the survey applicable to NRX’s
Slide 17: Witvlei Copper Project – JORC Mineral Resource
Witvlei Copper Project – JORC Mineral Resource Indicated – Inferred Resources across 4 deposits: • 10Mt @ 1.3% Cu JORC 2012 Resource1 • 95%-owned by Noronex, 5% Local partner • Shallow near-surface sulphide mineralisation • Resources constrained by pit shells • Chalcocite in sediments, potential for
Slide 18: Witvlei Copper Project – Growth Potential
Witvlei Copper Project – Growth Potential Daheim • New discovery on geochemical soil anomaly • Numerous thick high-grade intercepts in complex structural setting, hosted in siltstones on contact with oxidised sandstones 1 • RC intercepts include: Diamond Drilling – base of mineralised intercept 118-
Slide 19: Witvlei Copper Project – Developments in the Region
Witvlei Copper Project – Developments in the Region Witvlei Deposits • 10Mt @ 1.3% Cu JORC 2012 Resource1 • Aiming to triple resources for a stand-alone operation • Chalcocite in sediments, high-grade concentrate or SX-EW chloride heap leach potential Otjihase • Consolidated Copper Ltd purchased Otj
Slide 20: Uranium Projects – Namibia
Uranium Projects – Namibia • Low-cost Option Agreement to acquire the greenfields Etango North Uranium Projects • Project lies along strike from major uranium deposits • Experienced Namibian uranium team • Etango North: • Environmental Clearance Certificate (ECC) completed • Targets defined • Spectr
Slide 21: Uranium Projects – Etango North
Uranium Projects – Etango North • Located in the centre of Namibia’s hard rock uranium district • Along strike from Bannerman Energy’s Etango Deposit (207Mlb contained U3O8) • Anomalous Alaskites intersected in drilling on adjacent tenure, data acquired • AI used to define a highly prospective targe
Slide 22: Other Projects – Ontario Copper Project, Canada
Other Projects – Ontario Copper Project, Canada • Located on the Onaman-Tashota Greenstone Belt, ~3 hours’ drive to the NE of the key regional mining hub of Thunder Bay • Noronex is one of the largest land-holders (26,000ha) targeting VMS discoveries in this district • Well-serviced by the Trans-Can
Slide 23: Other Projects – Ontario Copper Project, Canada
Other Projects – Ontario Copper Project, Canada • Most advanced project is the Lynx Deposit at Onaman, with a shallow JORC (2012) Inferred Mineral Resource: • 1.63Mt at 1.61% Cu, 0.66g/t Au and 39.68g/t Ag • Drilling to test potential extension to the Lynx South Lens returned intersections including
Slide 24: Key Investment Takeaways
Key Investment Takeaways Impressive belt-scale tenement holding in the Kalahari Copper Belt South32 Alliance provides funding, technical and strategic support to test multiple copper targets Diamond drilling underway and a 7,000m RC program to commence in August Expanded Strategic Alliance targeting
Slide 25: Contact details
Suite 1, 295 Rokeby Road, Subiaco, WA, Australia, 6008 PH +61 8 6555 2950 • EMAIL info@Noronex.com.au NORONEXLIMITED.COM.AU ASX:NRX PAGE 25
Slide 26: Competent Person's Statement
Competent Person’s Statement Table 1: DorWit Consolidated Mineral Resources at a cut-off grade of 0.5% Cu as at 01 March 2021 Oxidation Classification Tonnes Cu Ag Cu content Deposit State Category (Millions) (%) (ppm) (kilo tonnes) Indicated 0.11 1.30 7 1.4 ● The Mineral Resource estimate has been
Slide 27: Competent Person's Statement
Competent Person’s Statement ● The information in this report that relates to Mineral In June 2020, a JORC (2012) compliant resource (reported by G. Kirkham) was completed at the Lynx deposit representing approximately 600 metres Resources in Canada is based on information compiled of a 12km trend o