Waratah Minerals Limited · ASX:WTM
Waratah Minerals — Precious Metals Summit Beaver Creek 2026
28 slides from Waratah Minerals's conference presentation, Sep 25, 2026
Slide 1: A District-Scale Gold Discovery
A District-Scale Gold Discovery ASX:WTM | Investor Presentation Precious Metals Summit Beaver Creek, 22-25 September 2026
Slide 2: Creating value for our stakeholders through discovery
Creating value for our stakeholders through discovery Globally significant gold discovery Spur evolving from early exploration into a district-scale gold system with potential for several million ounces 2 Strong executive team & board High calibre discovery team with strong track record of value cre
Slide 3: Why Spur District is Globally Significant
Why Spur District is Globally Significant 3 Large Multiple Drilling demonstrating continuity, Footprint Discoveries grade architecture and tonnage potential sufficient to define a multi- million-ounce system Broad & Open ASX:WTM High-Grade Zones System
Slide 4: 6km mineralised corridor
Gazzards Prospect Alpine Prospect 6km mineralised corridor District Architecture Multiple Discovery Ironclad Opportunities Prospect 4 Spur is developing into a 6– Consols km-mineralised corridor of Discovery linked discoveries Spur Discovery Gum Flat ASX:WTM Discovery
Slide 5: Exploration Momentum
Exploration Momentum 28 Getting Better with Intercepts exceeding 100g/m Geological Top Intercepts Understanding Top Drilling Intercepts SPD075 46m @ 7.27 g/t Au from 541m 221 Consols Holes drilled to date ~87,500m SPRCD062 208.7m @ 1.17 g/t Au from 514m Consols 5 SPD027 117m @ 2.01 g/t Au from 661m
Slide 6: Corporate Overview
Corporate Overview v 388M Shares on Issue 9% $0.62c $240M $57.7M Board and Management Share price Market Cash at bank (ASX Code: WTM) (fully diluted) (18 Sept 2026) Capitalisation (30 June 2026) Exploration Discovery Significant Shareholders 4 Aug 2025 High grade extensions to Spur Gladstone Mining
Slide 7: A Proven Discovery Team
A Proven Discovery Team Strong record of discovery, value Board of Directors creation, resource development & project Dr. Andrew Stewart Peter Duerden divestment Executive Chairman Managing Director Geologist with over 25 years’ experience in Geologist and Mining Executive with over 25 in Australia
Slide 8: Macquarie Arc: Home of World-Class Gold-Copper Deposits
Macquarie Arc Home of World-Class Gold-Copper Deposits 8 ASX:WTM
Slide 9: Macquarie Arc
Macquarie Arc Home of World-Class Gold-Copper Deposits Australia’s Premier Au - Cu Belt • Gold and copper elephant country • > 80 Moz Au / 13Mt Cu endowment 1 • Several major mining operations • Discovery potential validated by recent 9 discoveries & global majors investing in region Mining Friendly
Slide 10: Strategic Position in an Established Mining District
Strategic Position in an Established Mining District A gold district hiding in plain sight Developed Infrastructure • High Voltage Power / Gas - State Grid • Several major mining operations • Skilled local workforce 10 Brownfields Environment • Untested potential • Large fertile Macquarie Arc porphy
Slide 11: Spur Gold – Copper Project
Spur Gold – Copper Project Highly strategic district-scale land position 100% Ownership of a Large Gold District • Multiple discovery opportunities • Numerous multiphase intrusive porphyry complexes • Covering ~100 square kilometres 11 Unique & Strong Tenure • Cargo Mining Common was set aside speci
Slide 12: 160 Year History with ~61,500m of Drilling
160 Year History with ~61,500m of Drilling Waratah has Drilled 80,000m in < 1 year Pre-1970s Pre Waratah: 160 years with ~61,500m 2018 of Drilling Waratah: 80,000m Drilling in < 1 year 12 Pre-1970s 2024/25 2026 • Historical mining • 1860s alluvial mining & small-scale underground and open pits on go
Slide 13: We have a clear value creation strategy
“We have a clear value creation 13 strategy through aggressive exploration delivering rapid resource growth and low discovery costs.” – Dr. Andrew Stewart, Executive Chairman ASX:WTM
Slide 14: Growth of the Discovery
Growth of the Discovery District scale gold system – Snapshot of system growth from 2024 to 2026 14 ASX:WTM
Slide 15: Consols Gold Zone
Consols Gold Zone Growing Consols zone: >300m east-west >400m north-south and >600m vertically Series of east-west quartz- sulphide sheeted vein sets 18 Associated with strong potassic alteration Potential for further significant high-grade discoveries With the opportunity to rapidly add ounces and
Slide 16: Consols Gold Zone
Consols Gold Zone Consols Zone – Major New Gold Discovery Four high-grade gold bearing zones in the footwall of the Colthi Fault East-west quartz-sulphide sheeted vein sets associated with strong potassic alteration A 19 FW2 - SPD075: 1m @ 15.69g/t from 328m FW3 - SPD075: 0.45m @ 71.68 g/t from 420m
Slide 17: Spur Gold Zone
Spur Gold Zone Rapidly Demonstrating Growing Systems Spur zone covers 1km x 250m • Domain south of Essex Fault • Diamond drilling defining a large system with numerous high-grade shoots 20 • Multiphase veining, stringers and disseminated gold • High grade gold occurs as shallowly north plunging zone
Slide 18: Spur Gold Zone
Spur Gold Zone SPD058 @ 43-44m 108g/t Au. Gold and native bismuth 21 precipitating on the intersection between vein sets SPRCD037 @ 436-437m 11.6g/t Au. Massive sulphide veins ASX:WTM SPRCD037 @ 448-449m 7.06g/t Au. Quartz carbonate sulphide breccias 44.3g/t 44.3g/t Au Au
Slide 19: Northern Continuity
Northern Continuity Drilling confirms district-scale system with 6km of strike between Spur and Gazzards Exploration drilling returns strong shallow results Alpine 20m @ 1.82 g/t Au from 53m incl. 8 m @ 4.38 g/t from 55m 22 Alpine 10m @ 2.46 g/t Au from 76m incl. 5 m @ 4.35 g/t from 79m Gazzards 8m
Slide 20: Consistent Early Test Work Supports a Conventional Pathway
Consistent Early Test Work Supports a Conventional Pathway Results suggest simple, conventional process pathway for Spur Geometallurgical Results • High gold recoveries of over 90% (90-97%) by gravity and conventional leaching • Coarse, free milling gold in grain sizes up to 688 µm 23 • Gravity reco
Slide 21: The Geological Model
The Geological Model Intrusive-centred system capable of generating meaningful gold Two value engines in one mineral system EPITHERMAL GOLD Broad mineralised envelopes with 24 internal high-grade shoots. PORPHYRY Au–Cu Deeper optionality guided by alteration and geochemical vectors. ASX:WTM
Slide 22: Mapping a large IS Epithermal system
Mapping a large IS Epithermal system Intermediate Sulphidation Epithermal Grades improving at depth with increasing potassic alteration SPRCD062: 592.6m – Patchy and veinlet associated quartz + pyrite ± chalcopyrite with pervasive k-feldspar + chlorite alteration, 4.45g/t Au System has potential for
Slide 23: 2026 - Growth & Discovery Drilling Underway at Spur Gold Project
2026 - Growth & Discovery Drilling Underway at Spur Gold Project Targeting Resource Growth & New Discoveries Growth & discovery drilling underway • 80,000-metre drilling program in 2026 • 10 drill rigs active Targeting & scope 26 • Multiple rigs targeting shallow, near-surface mineralisation, and de
Slide 24: Australia's Next Multi-Million Ounce Gold District
27 “We are working to unlock Australia’s Next Multi-Million Ounce Gold District.” – Dr. Andrew Stewart, Executive Chairman ASX:WTM
Slide 25: Investment Summary
Investment Summary Unlocking Australia’s Next 2026-2027 Multi Million Ounce Gold District CATALYSTS Exploration Target Maiden MRE 28 Exploration Upside Only 11% of 50sqkm Rare tenure opportunity Diamond drilling Cargo Mining Common could at Northern Targets trend tested facilitate rapid permitting S
Slide 26: Disclaimer, Compliance & Cautionary Statements
Disclaimer, Compliance & Cautionary Statements Forward Looking Statements This announcement contains “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may
Slide 27: References
References ▪ Alkane 2023, Resource and Reserve Statement FY23, 13 September 2023 ▪ ASX WTM 20 January 2025 Spur Gold Zones Extended ▪ ASX WTM 24 March 2025 Drilling extends high grade gold ▪ Blue Ocean Equities 2024., Research Note, 8 October 2024 ▪ ASX WTM 28 April 2025 Drilling Extends Spur Gold C
Slide 28: Andrew Stewart, Executive Chair
Andrew Stewart Executive Chair E: info@waratahminerals.com W: waratahminerals.com ASX:WTM waratahminerals.com
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