North Stawell Minerals, Ltd. · ASX:NSM
North Stawell Minerals — RIU Resource Investor Roadshow, Melbourne (September 2025)
35 slides from North Stawell Minerals's conference presentation, Sep 24, 2025
Slide 1: Drilling & project update
Drilling & project update. RIU Resource Investor Roadshow, Melbourne. North Stawell Gold Project Victoria, Australia September 24, 2025 We acknowledge the traditional owners of the land on which we work, the Wotjobaluk, Jardwadjali, Wergaia and Jupagalk nations, and pay our respects to elders past a
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer Forward Looking Statement and Disclosures. This presentation is not making any offer, inducement, solicitation or invitation of any kind by communication of this presentation to the recipient and under no circumstances is it to be construed as, a prospectus or an adv
Slide 3: North Stawell Minerals Ltd Opportunity
North Stawell Minerals Ltd Opportunity North Stawell Gold Project, Victoria, Australia. Share Price Small Cap Upside Cash on hand Optics $0.034 $11.59M 87koz Au11 $2.1M2 Gold-only! (incl. 44koz Indicated ) Single project 341M shares Market Capitalisation Shallow (from 30m) ASX:NSM 1 Aug 25 Single co
Slide 4: Why NSM?
Why NSM? Small Cap with a shallow 87koz Mineral Resource currently drilling its 2nd hole into a new, high-grade, gold target. Single commodity – single jurisdiction – single project == easy to understand and follow! Why NSM? 24% Single commodity – single jurisdiction project – single project. NSM st
Slide 5: Corporate Overview
Corporate Overview A highly experienced leadership team with strong exploration and mining experience. NSM is solely focussed on gold in western Victoria. Board Who’s here for NSM? Capital Structure Jerry Ellis Non-ExecutiveChairman 30 years at BHP (2 years as Chairman), ANZ Bank director for Toni G
Slide 6: North Stawell Minerals Ltd snapshot
North Stawell Minerals Ltd snapshot Multi million-ounce gold corridor. Extensive historic data1 Strategic position Explore for shallow, Stawell-type and Experienced team Stawell Mine has historic production of 5.3Moz 142,000m AC (2,422 holes). Strong project pipeline. Mariners-type mineralisation. B
Slide 7: NSM Tenements
NSM Tenements 504km2 of the Stawell Corridor – prospective for Victorian Gold. Located immediately north of the operating Stawell Gold Mine (SGM) in the same rocks. Gold potential for 85% of the tenements is preserved under a blanket of thin, unmineralised sediment (“cover”). 2 Tenement Status Numbe
Slide 8: Geology
Geology NSM tenements cover 60km strike of the Stawell Corridor – a highly gold prospective geological zone. 85% of the tenements are masked by a thin blanket of unmineralised sediments (“cover”). Stawell mineralisation is the SAME event as central Victoria, but pre-gold BASALTS focus gold mineralis
Slide 9: Stawell Gold Mine (the "Stawell-type" model)
Stawell Gold Mine (the “Stawell-type” model) The mine is cored by a buttress of basaltic rock. Gold mineralisation wraps around the basalt margin. Find more basalts == find another Stawell!? Mariners splay Wonga (see below) Stawell historic production1: Magdala West 2.67M oz Au (pre-1980) 2.62Moz Au
Slide 10: Geophysics - Targeting through a blanket of masking sediments
Geophysics - Targeting through a blanket of masking sediments (“cover”) and at depth. Working with a best-available dataset (including geo-knowledge) to test and rank Stawell-like targets under cover. Basalts in the geology focuses gold. Geophysics can find the basalts. Footprint of 4.9 Moz Au Stawe
Slide 11: NSM Exploration and discovery focus
NSM Exploration and discovery focus. NSM is exploring for shallow repeats of the multi million-ounce Stawell Mine Stawell Mine (SGM) (SGM) gold deposit at Stawell – masked and preserved by cover – within the economic footprint of the processing facility at the Stawell Mine2. 5 km Main targets Previo
Slide 12: Drilling results targeting Stawell-type basalts and Mariners-type splays
Drilling results targeting “Stawell-type” basalts and “Mariners-type” splays. 5.00m @ 1.21 g/t Au from 56.00m (ASA115) (1) 2.00m @ 2.00 g/t Au from 58.00m (ASA184) 7 basalts are demonstrated to have significant (1+ Lubeck Tip NSM 1.00m @ 5.05 g/t Au from 56.00m (NSAC0172) (2) g/t Au) gold on basalt
Slide 13: Wildwood Mineral Resource
Wildwood Mineral Resource1. 87,300 oz Au Mineral Resource from immediately below cover (10-40m depth). Shallow-tested and open in most directions – particularly at depth. The Mineral Resource at Wildwood has benefited from re-interpretation and re-estimation and structural interpretation in June 202
Slide 14: Mariners Historic Mines – High Grade Gold Opportunity
Mariners Historic Mines (the “Mariners-type” model) – High Grade Gold Opportunity. Occurs as splays of mineralisation off (and above) the deeper basalt. Above the Stawell Mine, the historic Mariners-type production includes 0.78-0.95Moz Au at 28-30g/t Au1. Mariners splay Mariners Magdala East Plan o
Slide 15: Mariners Historic Mines – High Grade Gold Opportunity
Mariners Historic Mines (the “Mariners-type” model) – High Grade Gold Opportunity. Occurs as splays of mineralisation off (and above) the deeper basalt. Above the Stawell Mine, the historic Mariners-type production includes 0.78-0.95Moz Au at 28-30g/t Au1. Historic mineralisation at Mariners is char
Slide 16: Darlington-Caledonia fairway
Darlington-Caledonia fairway Darlington is an NSM priority target 6 km north of Stawell, includes newly discovered basalt with potential to form drilling do not occur in isolation. Multiple high-grade drill intercepts and high-grade historic workings occur over 3.6km trend. Rock textures (historic m
Slide 17: Darlington – Caledonia trend
Darlington – Caledonia trend Encouraging results in most recent drilling do not occur in isolation. Multiple high-grade drill intercepts and high-grade historic workings occur over 3.6km trend. Rock textures (historic mine dumps), geochemistry and new observations further highlight gold potential. 1
Slide 18: Darlington – Caledonia trend
Darlington – Caledonia trend Encouraging results in most recent drilling do not occur in isolation. Multiple high-grade drill intercepts and high-grade historic workings occur over 3.6km trend. Rock textures (historic mine dumps), geochemistry and new observations further highlight gold potential. 1
Slide 19: Darlington-Caledonia fairway
Darlington-Caledonia fairway Darlington is an NSM priority target 6 km north of Stawell, includes newly discovered basalt with potential to form Stawell-type and/or Mariners-type gold mineralisation along an 8km trend from Stawell (3.6km on NSM ground). Slide 21 Stawell-like or Stawell-repeat? Both
Slide 20: Cross-section through Stawell
Cross-section through Stawell. Showing mineralisation and relationship to the geology. NSM’s prospects are listed – showing where they are interpreted to sit within the Stawell Mine model. MARINERS TYPE AU The upper sections of the Stawell Mine STAWELL geology have a lot of similarities to the TYPE
Slide 21: Cross-section through Darlington
Cross-section through Darlington. Showing mineralisation and relationship to the geology. NSD058 NSD057 Slide 22 Cross section through previous drilling at Darlington resulted in two new targets: NSD057 first hole intersecting high grade Darlington West – NSD058(1) NSD058 is the first hole testing a
Slide 22: Darlington Target – Mariners-type or Mariners-repeat? (2025)
Darlington Target – Mariners-type or Mariners-repeat? (2025) Darlington, 6 km north of Stawell, includes visible gold (VG)-bearing brecciated quartz-sulphide vein5 and basalts at depth (NSD053(3) and NSD057(5)) – interpreted as a mineralised ‘splay’ off the basalt at depth. NSD057 – 2.3m at 29.2 g/t
Slide 23: Darlington Target – Mariners-type or Mariners-repeat? (2025)
Darlington Target – Mariners-type or Mariners-repeat? (2025) Darlington, 6 km north of Stawell, includes visible gold (VG)-bearing brecciated quartz-sulphide vein5 and basalts at depth (NSD053(3) and NSD057(5)) – interpreted as a mineralised ‘splay’ off the basalt at depth. NSD057 – 2.3m at 29.2 g/t
Slide 24: Darlington West – NSD058
Darlington West – NSD058(1) NSD058 is the first hole testing a “blind” target based on geophysics and numerical modelling data. The hole intersected mineralisation on the upper and lower margins of a new, intersected basalt – an exciting result for a possible repeat of the Stawell-type mineralisatio
Slide 25: Darlington West – NSD058
Darlington West – NSD058(1) NSD058 is the first hole testing a “blind” target based on geophysics and numerical modelling data. The hole intersected mineralisation on the upper and lower margins of a new, intersected basalt – an exciting result for a possible repeat of the Stawell-type mineralisatio
Slide 26: Numerical modelling targets – regional opportunities
Numerical modelling targets – regional opportunities NSD058 succeeded in intersecting blind mineralisation associated with a previously undrilled basalt, based only on modelling. Other regional targets have similar “vectors” that are encouraging as possible future drill targets and exploration focus
Slide 27: Programs - current
Programs - current. Follow-up on NSD057 and NSD058 are current priorities for NSM exploration. Surface chemistry/geophysics to understand strike extents of the system. Potential to migrate learnings/techniques to Caledonia (2 km nth). NSD057 NSD058 Darlington Mine Darlington Darlington West fault Ab
Slide 28: Programs - upcoming
Programs - upcoming IP test-line across Darlington target to understand 3D mineralisation trend? AC follow up on soils results – in the weathered zone (80-90m depth) DD follow up on AC results IP SURVEY: A proposed (Induced Polarisation geophysics survey (“IP”) has been complicated by access. Howeve
Slide 29: Work Program 2025+
Work Program 2025+ Follow-up on the high-grade shallow target at Darlington. Expand the Darlington targets that “fit” a Stawell-type or Mariners-type mineralisation model. Review Wildwood as a potential satellite deposit. Prepare secondary targets for renewed work. Proposed workflows. Activities cen
Slide 30: Summary
Summary Darlington – and the trend towards Caledonia - with potential for a high-grade (and transformative?) gold mineralisation is a priority for current and up-coming programs. Current and up-coming programs are focused on evaluation of the most compelling targets north of Stawell. NSM is in a goo
Slide 31: North Stawell Minerals
North Stawell Minerals ASX:NSM This announcement has been approved for release by the board of Directors of North Stawell Minerals Ltd. For Media Enquiries For Investor Enquiries peter@nwrcommunications.com.au mnguyen@gbacapital.com.au About North Stawell Minerals Limited: North Stawell Minerals Lim
Slide 32: APPENDIX 1: NSM releases to ASX relating to this presentation
APPENDIX 1 NSM releases to ASX relating to this presentation. Ref # Date Report title Doc size 1 22-Sep-20 Prospectus Link 20276KB 3 29-Oct-20 Quarterly Activities Report & Appendix 5B Link 2904KB 5 20-Jan-21 NSM Drilling Update Link 2532KB 7 22-Feb-21 Shallow, High Grade Gold discovered at Wildwood
Slide 33: APPENDIX 1: NSM releases to ASX relating to this presentation
APPENDIX 1 NSM releases to ASX relating to this presentation. Ref # Date Report title Doc size 59 29-Aug-23 Australian Gold Conference 2023 Presentation Link 4360KB 66 31-Oct-23 Quarterly Activities Report Link 3697KB 67 15-Nov-23 Investor Presentation - Noosa Mining Conference Link 486KB 83 21-Feb-
Slide 34: APPENDIX 2: References
APPENDIX 2 References – Data informing historic mines and historic production figures at Mariners, Stawell. 1. https://stockhead.com.au/resources/nsms-challenger-prospect-mirrors-the-5moz-stawell-gold-mine/ 2. https://northstawellminerals.com/our-projects/ 3. https://wcsecure.weblink.com.au/clients/
Slide 35: APPENDIX 3: Project Pipeline – Lubeck Tip
APPENDIX 3: Project Pipeline – Lubeck Tip The Lubeck Tip target is an NSM discovery. 30km north of Stawell, the target has responded well to the exploration model, returning shallow, significant gold grades (>1g/t Au) in first drill programs. Lubeck Tip is a “next cab off the rank” project in NSM’s
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