Alice Queen Limited · ASX:AQX
Alice Queen — Investor Presentation (August 2026)
17 slides from Alice Queen's investor presentation, August 2026
Slide 1: Horn Island on a Development Pathway
ASX:AQX Investor Presentation | August 2026 Horn Island on a Development Pathway
Slide 2: Disclaimer
Disclaimer This presentation prepared Alice Queen Limited (“Company”) does not purport to contain all the information that a Competent Person’s Statement prospective investor may require in connection with any potential investment in the Company. You should not Information on the Mineral Resources p
Slide 3: Corporate Overview
Corporate Overview Major shareholder Gage Resource Development Pty Ltd (51%), a subsidiary of Beijing Gage Capital Management Co Ltd, a Beijing-based private equity group with US$1.6 billion in funds under management ✦ Major Shareholder (51%) Gage Resource Development Pty Ltd, a subsidiary of Beijin
Slide 4: Horn Island – Recent Achievements
Horn Island – Recent Achievements ✦ 2026 drilling program underway ✦ Project Definition Study delivered ✦ Mineral Resource Estimate updated ✦ Exploration Target announced ✦ Feasibility studies progressing INVESTOR PRESENTATION | AUGUST 2026 4
Slide 5: Part of the Kennedy Igneous Province
Part of the Kennedy Igneous Province ✦ Early Carboniferous-Permian 345-260ma ✦ Kennedy Igneous Province contains 17 separate deposits that are >1M ounces ✦ The combined gold endowment of the Kennedy Igneous Province is more than 20M ounces combined INVESTOR PRESENTATION | AUGUST 2026 5
Slide 6: District Scale Landholding
District Scale Landholding ✦ Horn Island is part of the archipelago known as “Kaiwalagal” ✦ Alice Queen holds tenure over six islands within the archipelago ✦ Historical occurrences of gold across the archipelago INVESTOR PRESENTATION | AUGUST 2026 6
Slide 7: Significant Existing Infrastructure
Significant Existing Infrastructure INVESTOR PRESENTATION | AUGUST 2026 7
Slide 8: Thursday Island – Administrative centre of the Torres Strait
Thursday Island – Administrative centre of the Torres Strait ✦ Population ~3,000 ✦ More than 35 Government departments ✦ 30 bed Public Hospital ✦ Supermarkets and other retail ✦ Hotels and accommodation ✦ Ferry services linking Horn Island INVESTOR PRESENTATION | AUGUST 2026 8
Slide 9: 2026 Drilling Program Commences
2026 Drilling Program Commences Drilling program targeting up to ~5,000m has been designed to test several parts of the Exploration Target and create value through the following pathways: Resource Expansion Improve Grade Satellite Growth Near-surface stockpiles ✦ Drilling within and ✦ Improve confid
Slide 10: Exploration Target – Large-Scale Gold Upside
Exploration Target – Large-Scale Gold Upside Highlights ✦ Supports the potential for a large-scale gold mineral system across Horn Island ✦ Shallow, near-surface mineralisation is the focus of near-term exploration 1.5 – 2.3Moz Au ✦ Sits immediately adjacent to and below the historic open pit Combin
Slide 11: Horn Island Project Definition Study
Horn Island Project Definition Study A$706M 109% A$1.3B ~1.1 yrs NPV (8% pre-tax) IRR pre-tax Life-of-mine EBITDA After-tax capex payback (A$473M after-tax) (79% after-tax) Production & Operation Capital & Value ✦ LOM total capital of A$203M gold production ~466koz Au over 11 ✦ Upfront capital of A$
Slide 12: Updated Mineral Resource Estimate (2026)
Updated Mineral Resource Estimate (2026) Horn Island Gold Project | JORC Code (2012) | ≥0.3g/t Au cut-off Classification Tonnage (Mt) Grade (g/t Au) Contained Gold (koz) 569koz Au Total contained gold Indicated Resource 15.4 0.82 404 71% / 29% Inferred Resource 5.7 0.89 165 Indicated / Inferred Tota
Slide 13: Fiji Gold Projects
Fiji Gold Projects Viani – confirmed low sulphidation Epithermal gold system ✦ Covering a largely under-explored area >200 km² ✦ >5 km strike length open to the NW and SE has been identified through extensive sampling, trenching and historic drilling ✦ Footprint of epithermal mineralisation is compa
Slide 14: Lachlan Fold Belt Projects
Lachlan Fold Belt Projects Boda East ✦ Adjacent to Alkane’s Boda hole, lies just ~700m west of Boda East ✦ 11 diamond holes completed for ~8,000m completed ✦ Evidence of a porphyry system identified (ASX release 1/03/2021) Mendooran ✦ More than $1M invested by Newcrest into target generation ✦ Eight
Slide 15: For Further Information
For Further Information Andrew Buxton Managing Director andrew.buxton@alicequeen.com.au INVESTOR PRESENTATION | AUGUST 2026 15
Slide 16: Appendix – Exploration Target Information
Appendix 1 – Exploration Target Information An Exploration Target was established as announced on 28 April 2026 (as updated on 5 May 2026). The Horn Island Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and classify it in accordance
Slide 17: Appendix – Exploration Target Information
Appendix 1 – Exploration Target Information Historic legacy stockpiles from previous historic mining operations including Run of Mine (ROM) dump areas, waste dumps, low grade stockpiles, process water dam wall and bunding zones have been delineated. Majority of these have been drilled and/or surface