Blackstone Minerals Ltd · ASX:BSX
Blackstone Minerals — RIU Explorers Conference 2026
18 slides from Blackstone Minerals's conference presentation, Feb 19, 2026
Slide 1: Advancing the Mankayan Copper-Gold Project
For personal use only Advancing the Mankayan Copper-Gold Project A world-class copper-gold project in the Philippines RIU Explorer’s Corporate Presentation February 2026 ASX:BSX
Slide 2: Disclaimers
Disclaimers These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Blackstone Minerals Limited (ACN 614 534 226) (Company) as at 18 February 2025 and statements are current only as at that date. Information in the Presentati
Slide 3: Mankayan – a world-class copper-gold porphyry
Mankayan – a world-class copper-gold porphyry Globally significant, undeveloped copper-gold resource ▪ Located ~250km from Manila within the Mankayan mineral For personal use only district - a well-known region, hosting large porphyry systems with particularly high gold grades ▪ JORC 2012 compliant
Slide 4: Blackstone Minerals Corporate overview
Blackstone Minerals Corporate overview A$77.7m Strong, Supportive Board & Management proven operators with Philippine expertise For personal use only Market Capitalisation Shareholder base Geoff Gilmour Greg Cunnold Executive Chairman Non-Executive Director A$0.046 ~58% • +30 years of corporate expe
Slide 5: Mankayan's Mineral Resource
Mankayan’s Mineral Resource Exceptional scale with a high-grade core Resource Category Mt CuEq (%) Cu (%) Au (g/t) Ag (g/t) CuEq (Mt) Cu (Mt) Au (Moz) Ag (Moz) For personal use only Measured - - - - - - - - - Indicated 638 0.68 0.37 0.4 0.9 4.3 2.3 8.2 18 Inferred 155 0.52 0.29 0.3 0.5 0.8 0.5 1.5 3
Slide 6: Historical drilling results
Historical drilling results Exceptional continuity and grade thickness For personal use only ▪ History of exploration confirms wide, continuous zones of mineralisation that remains open at depth and along strike ▪ +59,000m of drilling to date at the project ▪ Standout historic drill intercepts inclu
Slide 7: Pre-Feasibility Study Preparation Activities
Pre-Feasibility Study Preparation Activities Comprehensive PFS program soon to commence PFS Workstreams underway For personal use only ▪ Pre-Feasibility Study gap analysis ▪ Selection and Scope of Works for key consultants ▪ Metallurgical test work ▪ Advancing key environmental approvals Geological
Slide 8: Regional potential upside
Regional potential upside New surface targets identified ▪ Extensive review of historical rock chip data confirmed For personal use only high-grade occurrences to the north and east off the deposit ▪ Delivered results up to 5.97 g/t Au, 1.9% CuEq and 53.1 g/t Ag1 ▪ Limited modern geophysics applied
Slide 9: The Philippines
The Philippines Strategic footprint in a resurgent industry ▪ Demonstrated history of successful mining operations (B2Gold, OceanaGold) For personal use only ▪ Pro-mining regulatory landscape actively supporting mineral development ▪ Philippines is party to ASEAN regional trade agreements, maintaini
Slide 10: Social Licence to Operate at Mankayan
Social Licence to Operate at Mankayan Advancing Mankayan to ensure shared value for all stakeholders ▪ Mankayan remains recognised as a ‘Priority Project’ by the For personal use only Philippine government, ensuring streamlined admin support from Key Social, Community and Regulatory the ARTA Milesto
Slide 11: The BSX value proposition
The BSX value proposition Scale, grade and jurisdiction For personal use only Globally Significant Scale & High-Grade: Mankayan is a world-class copper-porphyry system. 9.7Moz Au & 2.8Mt Cu JORC 2012 Mineral Resource with a high-grade core of 170Mt @ 0.93% CuEq Permitted to Advance PFS: Indigenous P
Slide 12: ASX Copper Peer Comparison
ASX Copper Peer Comparison One of the largest copper resources compared to ASX listed peers Resource only 400 6,000 363 354 EV/Resource 5,144 350 Average (t) 5,000 CuEq 298 4,304 Value (A$) /CuEquse 300 275 CuEq1 Resource (kt) 4,000 250 1 3,062 personal 200 3,000 168 161 2,012 1,983 150 116 2,000 11
Slide 13: Contact Us
For personal use only CONTACT US Suite 7, 1297 Hay Street, West Perth, WA, 6005 T: +61 8 9425 5217 E: admin@blackstoneminerals.com.au www.blackstoneminerals.com.au ASX:BSX | blackstoneminerals.com.au
Slide 14: Mankayan's Mineral Resource Estimate
Mankayan’s Mineral Resource Estimate1 Table 1. Mineral Resource reported at a cut-off criterion of 0.25% CuEq as at 30 Sept 2020 Resource Category Mt CuEq (%) Cu (%) Au (g/t) Ag (g/t) CuEq (Mt) Cu (Mt) Au (Moz) Ag (Moz) For personal use only Measured - - - - - - - - - Indicated 638 0.68 0.37 0.4 0.9
Slide 15: Mankayan's Mineral Resource Cut-Off Grades
Mankayan’s Mineral Resource Cut-Off Grades Cut-off Grade Tonnes Grade Grade Grade Grade Metal Metal Metal Metal (CuEq %) (Mt) (CuEq %) (Cu %) (Au g/t) (Ag g/t) (CuEq Mt) (Cu Mt) (Au Moz) (Ag Moz) For personal use only 0.0 805 0.64 0.35 0.38 0.8 5.2 2.8 9.7 20 0.1 804 0.64 0.35 0.38 0.8 5.2 2.8 9.7 2
Slide 16: Mankayan's Significant Intercepts
Mankayan’s Significant Intercepts Broader Intercept High-grade Intervals Drill Hole For personal use only From Interval From Interval To (m) CuEq % Cu % Au g/t To (m) CuEq % Cu % Au g/t (m) (m) (m) (m) PFC-40 230 1,349 1,119 0.86 0.42 0.56 883 1,235 352 1.15 0.53 0.79 MMD-11 156 1,068 911 1.00 0.51
Slide 17: ASX Copper Peer Comparison Source Material
ASX Copper Peer Comparison Source Material Total Market Enterprise Project Owner M&I Inferred M&I Inferred Total Cash Link to Source Resources Capitalisation Value Cu Grade Au Grade CuEq Cu Grade Au Grade CuEq Grade Cu Grade CuEq (Mt) (Mt) (Mt) (A$M) (A$M) (A$M) (%) (g/t) Grade (%) (%) (g/t) (%) (%)
Slide 18: Mankayan Cross Sections
Mankayan Cross Sections Copper & Gold For personal use only ASX:BSX | blackstoneminerals.com.au 1. Refer to ASX Announcement on 6 February 2025 for complete drilling information (JORC) 18