Slide 1: Davyhurst Project Site Visit
For personal use only Davyhurst Project Site Visit ORABANDAMINING.COM.AU March 2025 ORABANDAMINING.COM.AU ASX OBM
Slide 2: Forward looking statements
Forward looking statements IMPORTANT NOTICE AND DISCLAIMER This Presentation dated 7 March 2025 contains summary information about Ora Banda Mining Ltd ABN 69 100 038 266 (Ora Banda Mining or the Company) and its activities based on information available at the time of preparing the Presentation. Th
Slide 3: Riverina Underground Gold Mine
For personal use only Riverina Underground ORABANDAMINING.COM.AU Gold Mine March 2025 ORABANDAMINING.COM.AU ASX OBM
Slide 4: Riverina Underground Summary of Operation
Riverina Underground Summary of Operation For personal use only • Narrow Vein → Long Hole Open Stoping → Top Down • Riverina Decline → 1.5km developed to date → current at 2170 RL → 2165 Level to commence mid-March • North Decline → 800m developed to date → currently at 2250 RL → 2256 Level commence
Slide 5: Riverina Underground Geology
Riverina Underground Geology Lithology For personal use only • Stratigraphy: The regional geology is characterized by an interbedded sequence of pillow basalts, ultramafics and carbonaceous and sulphidic interflow sediments, overlying a basal ultramafic unit. The sequence is crosscut by a series of
Slide 6: Riverina Underground Geology: The Ore System
Riverina Underground Geology The Ore System For personal use only • Gold Hosting Shear/Mylonite Zones: The gold deposits in the area are hosted within three separate shear/mylonite zones, namely Reggie’s, Murchison, and Main Lode, all trending approximately north-south. The main endowment is located
Slide 7: Where We Have Come From – Block Model Updates
Riverina Underground Geology Where We Have Come From – Block Model Updates For personal use only • The more we drill, the more we find • MW4 – much higher grades and volumes ORABANDAMINING.COM.AU • C12/13 – further drilling has identified numerous localised HG pockets – additional mining opportuniti
Slide 8: Maximising value – Increasing OVM
Riverina Underground Geology Maximising value – Increasing OVM 2215 Level Zambezi Fault For personal use only MW1 ME1 MW4 C09 C12/15 2195 DDDN ORABANDAMINING.COM.AU • Shift in GC drill focus from Main 2295 Level lodes only to wholistic mine corridor programs paying off with additional ore drives and
Slide 9: Growth mindset – Planned Res Def Drilling for remainder of FY25
Riverina Underground Geology Growth mindset – Planned Res Def Drilling for remainder of FY25 For personal use only • Development of two key drill drives nearing completion in Q3. • By EOFY 25 over 90% of existing LOM expected to be converted • Significant growth expected from un- tested “sharkbite”
Slide 10: Growth mindset – Recent Res Dev Drilling
Riverina Underground Geology Growth mindset – Recent Res Dev Drilling For personal use only ORABANDAMINING.COM.AU 10
Slide 11: Riverina Underground Geotech: Ground conditions
Riverina Underground Geotech Ground conditions For personal use only Six main geotechnical domains are identified at Riverina: 1. Basalts and sediments - make up the majority of development 2. Main ore lodes 3. Area between the main lodes 4. Water bearing structures / areas 5. Ultramafic rock ORABAN
Slide 12: Evolution of the Ore Body & Execution of the Plan
Riverina Underground Operations Evolution of the Ore Body & Execution of the Plan For personal use only 2295 2275 2295 2255 2235 2275 2215 2255 2235 2215 ORABANDAMINING.COM.AU 2255 Level – Stacked Lodes of Main and Murchison 12
Slide 13: Driving Growth in the North
Riverina Underground Operations Driving Growth in the North For personal use only • Whilst the Riverina South (RVS) mining zone has accelerated, a measured approach has been required in the North (RVN) in order to gain an understanding of the ore body. • Advantages of lagging decline: • Maximise RVS
Slide 14: Capital Projects Planned FY25 Q3/Q4
Riverina Underground Operations Capital Projects Planned FY25 Q3/Q4 Primary Fan Upgrade For personal use only Ventilation Control ORABANDAMINING.COM.AU Underground Pump Station & Rising Main Underground Telemetry & Fan Control 14
Slide 15: Production Performance
Riverina Underground Operations Production Performance • Surface tele hut → Increase in productivity For personal use only • Stope recons demonstrating high recovery and low overbreak • Multiple QA QC processes to ensure high quality plans and execution • Ongoing D&B improvements → optimising design
Slide 16: Development Performance
Riverina Underground Operations Development Performance For personal use only • Independent firing → Reduce cycle times and improve Decline development rate • Multiple ore drives per level → reduced capital outlay per ounce recovered • Multi-use drives (RAD/ESC/OD/SPL) → reduce required excavations
Slide 17: Today's Visit
Riverina Underground Operations Today’s Visit For personal use only ORABANDAMINING.COM.AU 17
Slide 18: Today's Visit
Riverina Underground Operations Today’s Visit For personal use only ORABANDAMINING.COM.AU 18
Slide 19: Today's Visit
Riverina Underground Operations Today’s Visit For personal use only ORABANDAMINING.COM.AU 19
Slide 20: Today's Visit
Riverina Underground Operations Today’s Visit For personal use only ORABANDAMINING.COM.AU 20
Slide 21: Sand King Geology
For personal use only Sand King ORABANDAMINING.COM.AU Geology Step 2 in OBM’s Drive to 150 ORABANDAMINING.COM.AU ASX OBM
Slide 22: Where are we?
Where are we? • Welcome to Siberia, of which Sand King is just but one For personal use only slice of the pie • 38km from Davyhurst Mill, 87km to Kalgoorlie • Historical mining district with multiple old open pits with mineralization open at depth • 36km from Davyhurst camp, 25 minute commute for FI
Slide 23: Sand King's OBM Story
Sand King’s OBM Story For personal use only • Historically modelled as a large open pit deposit • Timeline to UG was very fast: • First diamond hole targeting UG in October 2023 hit 14.3m @ 8.3g/t and showed “stacked lode” potential; 33 hole drill program commenced • Small cutback in open pit comple
Slide 24: Siberia Geology
Siberia Geology For personal use only • Gold Mineralisation is hosted in a series of high- grade conjugate (30 degrees offset to one another) tension veins, overprinting older shear zones which host sub economic gold grades and local high grade endowments ORABANDAMINING.COM.AU • Sits in a basalt suc
Slide 25: What really is it?
What really is it? For personal use only • Part of a dextral shear zone compromising multiple stacked lodes • Core of the deposit is as dilational jog, with multiple 090 structures sympathetic to the 060 shear zone. ORABANDAMINING.COM.AU • 060 (north south mine grid) and 090 (N30E mine grid) are vis
Slide 26: (North South Mine Grid) Structures
26 ORABANDAMINING.COM.AU For personal use only 060 (North South Mine Grid) Structures
Slide 27: Structures
27 ORABANDAMINING.COM.AU For personal use only 090 Structures
Slide 28: Sand King Resource
Sand King Resource Open in every direction, have we just started to uncover an elephant? For personal use only ORABANDAMINING.COM.AU 28
Slide 29: Sand King Resource vs latest GC model
Sand King Resource vs latest GC model For personal use only ORABANDAMINING.COM.AU Resource model grade shells – long section looking west Grade control model grade shells - long section looking west 29
Slide 30: Sand King Resource vs latest GC model
Sand King Resource vs latest GC model For personal use only ORABANDAMINING.COM.AU Resource model grade shells – plan view of 4315 level Grade control model grade shells – plan view of 4315 level 30
Slide 31: Further upside: Blowouts or Knuckles
Further upside “Blowouts” or “Knuckles” • Structural intersections create localised ‘blowouts’ For personal use only • Underrepresented in MRE – Difficult to model with wide (resource) spaced drilling • We know they are there from mining them in the pit! • First one UG (previously unknown) already i
Slide 32: Geology: Blowouts or Knuckles
Geology “Blowouts” or “Knuckles” For personal use only 14m “Blowout” ORABANDAMINING.COM.AU Length m2 Depth Volume Tonnes Grade Ounces Blow-Out 50 780 60 46,800 132,444 5 21,291 060 50 200 60 12,000 33,960 4 4,367 *Down plunge extent (Depth) is assumed 32
Slide 33: How we operate
How we operate Detailed geology paired with dynamic data assessment and integration For personal use only 14m “Blowout” ORABANDAMINING.COM.AU 33
Slide 34: How we operate
How we operate Detailed geology paired with dynamic data assessment and integration For personal use only 14m “Blowout” ORABANDAMINING.COM.AU 34
Slide 35: How we operate
How we operate Detailed geology paired with dynamic data assessment and integration For personal use only 14m “Blowout” ORABANDAMINING.COM.AU 35
Slide 36: How we operate
How we operate Detailed geology paired with dynamic data assessment and integration For personal use only 14m “Blowout” ORABANDAMINING.COM.AU 36
Slide 37: Siberia (not just about Sand King): Opportunities and Re-cap
Siberia (not just about Sand King) Opportunities and Re-cap For personal use only • Close to key infrastructure in a regional mining hub – Remember, Claremont of the goldfields • Open along strike and down dip. Potential for considerable growth in resource • Competent and homogenous ground for effic
Slide 38: Siberia Operations: Sand King Underground
For personal use only Siberia Operations ORABANDAMINING.COM.AU Sand King Underground Overview of Ora Banda Mining’s Second Underground Mine ORABANDAMINING.COM.AU ASX OBM
Slide 39: Sand King Underground Project Set-up
Sand King Underground Project Set-up For personal use only Primary Ventilation Circuit Escapeway operational for stoping ORABANDAMINING.COM.AU Commissioned 4337 Level Substation 39
Slide 40: Sand King Underground Project Set-up
Sand King Underground Project Set-up For personal use only Surface Power Station Core Shed and Wash Pad Updated Surface Admin and Workshop Area ORABANDAMINING.COM.AU Mine Water Infrastructure Surface Explosives Compound 40
Slide 41: Sand King Underground Development
Sand King Underground Development For personal use only • 2,031m developed since the start of the project (Start of March 2025) • 2 x jumbo’s utilised at Sand King Underground • Development rates forecasted to increase ORABANDAMINING.COM.AU with the 2nd production level already active (S4291) and a
Slide 42: Sand King Underground Development
Sand King Underground Development For personal use only • Ground condition at Sand King is classified ‘Good’ (NGI Q-System) with a tight range between the 25th and 75th percentile i.e. consistent good quality ground is expected across the ORABANDAMINING.COM.AU project. 42
Slide 43: Sand King Underground Production
Sand King Underground Production For personal use only • Production drilling commenced in late February 2025 • 76mm production holes with a floating boom production drill rig • Slots designed to be drilling with a Rhino Rig ORABANDAMINING.COM.AU with a 760mm rise supported then by a 2m x 2m box patt
Slide 44: Sand King Underground Production
Sand King Underground Production For personal use only FY25 production from the 4315 Level ORABANDAMINING.COM.AU FY25 production from the 4291 Level 44
Slide 45: Long live the King
Sand King Underground Long live the King For personal use only ORABANDAMINING.COM.AU We are only just getting started on this deposit… 45
Slide 46: Davyhurst Project Exploration Summary
For personal use only Davyhurst Project Exploration Summary ORABANDAMINING.COM.AU ORABANDAMINING.COM.AU ASX OBM
Slide 47: Overview Map: major mineralised trends
Overview Map 7 major mineralised trends that are substantially under-explored (especially at depth) For personal use only 1. RIVERINA 2. MULLINE 3. DAVY CENTRAL - WAIHI 4. ROUND DAM 5. CALLION 7. PYTHON TREND ORABANDAMINING.COM.AU 6. SIBERIA 47
Slide 48: Focus on Understanding Geology
Focus on Understanding Geology For personal use only • OBM believes the key to discovery is to first have a good understanding of the geology • The exploration team has pursued this belief in each of our project areas with a strong focus on: • re-assessing historical data with fresh ideas, ORABANDAM
Slide 49: 1. Riverina
49 ORABANDAMINING.COM.AU For personal use only 1. Riverina 1. RIVERINA
Slide 50: New Geological Understanding = New Exploration Model
New Geological Understanding = New Exploration Model For personal use only ORABANDAMINING.COM.AU Historical Exploration Model New Exploration Model Detailed mapping leads to new regional geology interpretation 50
Slide 51: New Model = New Ideas to Test
New Model = New Ideas to Test For personal use only • Riverina – Sunraysia Shear System • 7.5km strike length, open to south • Contains Little Gem prospect • Riverina – Forehand – Silver Tongue area • New tension vein model ORABANDAMINING.COM.AU • High potential for resource extensions • Eastern She
Slide 52: First Test of the New Model
First Test of the New Model For personal use only • Better understanding of the geology led to confidence in new generation targets • Application for EIS co-funded drilling – GRANTED • Two holes drilled: ACE • Little Gem target – Riverina to Sunraysia shear system • Ace target – Au-Cu associated wit
Slide 53: The Little Gem Story: First hole = Immediate Success
The Little Gem Story For personal use only First hole = Immediate Success • Three significant high-grade gold zones were intersected in LGDD24001 (@ 1g/t lower cut): • 5.27m @ 3.26g/t Au 180m VERTICAL • Inc. 0.77m @ 10.77g/t Au • 4.55m @ 7.37g/t Au • Inc. 1.55m @ 12.59g/t Au • 4.40m @ 3.43g/t Au ORA
Slide 54: The Little Gem Story: Host to High-Grade Mineralisation
The Little Gem Story For personal use only HOST TO HIGH–GRADE MINERALISATION • Highly visible white carbonate host to high- grade mineralisation (visually distinct from country rock) • Consistent high-grade throughout host carbonate • 4.55m @ 7.37 g/t Au ORABANDAMINING.COM.AU 54
Slide 55: The Little Gem Story
The Little Gem Story For personal use only • Recognition that Little Gem host was the same as the host at Sunraysia deposit (4km south) LGDD24001 ORABANDAMINING.COM.AU 55
Slide 56: The Little Gem Story: Current state of play
The Little Gem Story Current state of play: For personal use only 1. Awaiting assay results from holes LGDD25001 – 5 2. Re-assessing / re-interpreting geology at Sunraysia – same host and style of mineralisation to Little Gem 3. Additional drilling planned once assays received ORABANDAMINING.COM.AU
Slide 57: 2. Mulline
57 ORABANDAMINING.COM.AU For personal use only 2. Mulline 2. MULLINE
Slide 58: Mulline Trend Historical Production
Mulline Trend For personal use only Historical Production Prospect Tonnes Grade Oz Lady Gladys 1,913,500 3.1 189,700 Mulline Rose 178,000 2.6 14,800 Laterite Pits 487,000 1.2 19,200 Historical 9,300 43.3 13,000 Mines ORABANDAMINING.COM.AU SECTION SECTION TOTAL 236,700 Current Resource TOTAL 2,050,00
Slide 59: Mulline Trend
Mulline Trend Dedicated resources allocated to Mulline to unpack from the ground down For personal use only ORABANDAMINING.COM.AU 59
Slide 60: 3. Davy Central - Waihi
60 ORABANDAMINING.COM.AU For personal use only 3. Davy Central 3. DAVY CENTRAL - WAIHI
Slide 61: Waihi – Golden Pole
61 ORABANDAMINING.COM.AU For personal use only Waihi – Golden Pole
Slide 62: Waihi – Homeward Bound Sections
62 ORABANDAMINING.COM.AU For personal use only Waihi – Homeward Bound Sections
Slide 63: Waihi Main Lode Long Section
63 ORABANDAMINING.COM.AU For personal use only Waihi Main Lode Long Section
Slide 64: 4. Round Dam Trend
64 ORABANDAMINING.COM.AU For personal use only 4. ROUND DAM 4. Round Dam Trend
Slide 65: Round Dam Trend: Walhalla – Federal Flag Mineralisation model
Round Dam Trend Walhalla – Federal Flag Mineralisation model For personal use only ORABANDAMINING.COM.AU 65 Schematic 3D model showing dominant gold lodes relative to simplified lithological sequence
Slide 66: Round Dam Trend Growth Opportunity
Round Dam Trend Growth Opportunity For personal use only • Significant opportunity to materially increase resource base in short timeframe • Shallow open-pit targets = relatively cheap discovery cost • Any discovered resource provides backup mill feed • RC drilling started in February to test ORABAN
Slide 67: Callion, Siberia & Python
Callion, Siberia & Python More potential at 3 other major trends For personal use only Callion • Significant early stage work ongoing to upgrade regional model and further test drill targets Siberia 5. CALLION • 18km of strike that is largely 7. PYTHON TREND ORABANDAMINING.COM.AU 6. SIBERIA untested
Slide 68: Processing Department
For personal use only Processing Department ORABANDAMINING.COM.AU ORABANDAMINING.COM.AU ASX OBM
Slide 69: Overview – Davyhurst Processing Plant
Overview – Davyhurst Processing Plant For personal use only • Conventional goldfields plant • Three (3) stage crush to nominal f80 – 10mm. • Grinding circuit with gravity concentrator – 2 x 1.3MW Primary and Secondary Mills. • Leach and adsorption circuit through to tailing thickener. ORABANDAMINING
Slide 70: Practices and Performance
Practices and Performance For personal use only • A historically neglected asset – poor availability, high staff turnover, low skill sets. • Company committed significant resources and funds to improve performance → now getting the benefit • OBM engaged Prescient Asset Management to provide assistan
Slide 71: Major Projects: Crushing Automation
Major Projects Crushing Automation For personal use only • Historically, crushing circuit under performance due to electromechanical availability and operational practices. • Significant work undertaken to improve availability, however continued exposure regarding circuit operation occurred. • Keys
Slide 72: Major Projects: EEPL Installation
Major Projects EEPL Installation For personal use only • Davyhurst plant designed to operate at 150tph at a work index (WI) of 13.5kWhr/t – predominately OP oxide/transitional ore. • Current WI from UG operations is 18.0kWhr/t → to achieve required throughput required upgrades to existing mill confi
Slide 73: Davyhurst Processing – Going forward
Davyhurst Processing – Going forward For personal use only • Now a solid asset that is performing well • Major works are completed • Focus remains on continued improvements for long term success including: • Continued de-bottlenecking of the front end – Three stage crushing and milling circuit will
Slide 74: Our Purpose, Vision
For personal use only Our Purpose Ore-some Rocks, Awesome People – Our why Exploring, Developing and Delivering Vision Creating unparalleled growth, sustainably – Our aspiration Building the next mid tier miner ORABANDAMINING.COM.AU March 2025 74
Slide 75: Values | How we operate
Values | How we operate Winning is all about the people For personal use only ORABANDAMINING.COM.AU 75 75
Slide 76: Appendix
ORABANDAMINING.COM.AU For personal use only Appendix ORABANDAMINING.COM.AU 76
Slide 77: Mineral Resource Estimate Statement
Mineral Resource Estimate Statement1 MEASURED INDICATED INFERRED TOTAL MATERIAL PROJECT ('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000t) (g/t Au) ('000oz.) LIGHTS OF ISRAEL - - 74 4.3 180 4.2 254 4.2 34 MAKAI SHOOT - - 1,985 2.0 153 1.7 2,138 2.0 136 For personal use only WAIHI Open Pit -
Slide 78: Ore Reserve Statement
Ore Reserve Statement1 For personal use only DAVYHURST GOLD PROJECT ORE RESERVE BY DEPOSIT Notes: 1. The table contains rounding adjustments to reflect accuracy and may not total exactly. PROJECT AREA PROVED PROBABLE TOTAL MATERIAL 2. This Ore Reserve was estimated from practical mining envelopes an
Slide 79: ASX Listing Rule 5.23 Statements
ASX Listing Rule 5.23 Statements Mineral Resources and Reserves For personal use only The information in this Presentation that relates to Mineral Resources and Ore Reserves Exploration Results (Continued) has been extracted from the Company’s ASX release, ‘Annual Mineral Resource and Ore Reserve St
Slide 80: Contact details
Contact details LUKE CREAGH For personal use only Managing Director +61 8 6365 4548 admin@obmltd.com.au ORABANDAMINING.COM.AU ORABANDAMINING.COM.AU 80