Alex Metals Corp. · TSXV:ALX
Alex Metals — Investor Presentation (October 2026)
40 slides from Alex Metals's investor presentation, October 2026
Slide 1: Precious Metals-Rich VMS Exploration in Southeast Alaska
Precious Metals-Rich VMS Exploration in Southeast Alaska October 2026 TSX-V: ALX
Slide 2: Created to discover a world class silver-gold VMS deposit
Alex Metals was created with the sole objective of discovering a world class silver-gold rich volcanogenic massive sulfide (VMS) deposit We believe the Alexander Terrane of Southeast Alaska is the best hunting ground globally to make this kind of high-margin discovery and that Alex Metals has an exp
Slide 3: Forward Looking Statements
Forward Looking Statements: This presentation includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations o
Slide 4: Informational purposes disclaimer
This presentation is provided solely for informational purposes and is not, and under no circumstances is to be construed as, a prospectus, or advertisement or a public offering of securities, and does not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to b
Slide 5: The Alexander Triassic Group and the Wales Group
The Alexander Triassic Group and the Wales Group Windy Craggy Southeast Alaska has two kinds of rocks that host Volcanogenic 297 Mt Cu-Co Massive Sulphide (VMS) deposits Palmer The Alexander Triassic Group rocks have +17 Mt Cu-Zn-Ag Windy Craggy: giant VMS deposit Greens Creek Palmer: nice deposit t
Slide 6: Greens Creek: a goal worth chasing
GREENS CREEK a goal worth chasing Global standout VMS deposit: 40 Mt @ 552 g/t Ag, 3.77 g/t Au, 8.5% Zn, 3.3% Pb. Largest silver producer in the United States Region’s largest private employer and largest taxpayer Underground mine, mill, dry stacked tailings facility, ship-loading facility, camp fac
Slide 7: Project Overview: Clear Potential for a Major Discovery in Workable Areas
Project Overview: Clear Potential for a Major Discovery in Workable Areas Our Three Criteria Accessible and workable: close to PROJECTS VMS system with known ‘ore’ grade Limited exploration to date & roads & towns, no clear mineralization over solid widths no recycled projects permitting barriers, m
Slide 8: Management, board and technical advisors
Darwin Green MSc, PGeo Gwen Preston, BSc, MJ Nathan Steeves, PhD Aris Morfopoulos, BCom Chairman President, CEO & Director VP Exploration CFO & Secretary Entrepreneurial mining executive 20-year mining analyst, executive, Expert in ore system geology and CFO and accountant with 35+ years with 30+ ye
Slide 9: Strategically located in a tier-one mining jurisdiction
Strategically located in a tier-one mining jurisdiction Hosts some of the world’s most significant VMS deposits. Outstanding geological potential with limited modern exploration Petersburg On tidewater ESKAY CREEK Established mining jurisdiction: 3 operating mines WODSKI Wrangell GRANDUC Resource-ba
Slide 10: VMS Value Creation
VMS Value Creation Company Key Achievement Value Creation (Approx) ** FireFly Metals Acquired Ming Mine in 2023 with 39Mt resource; doubled it in 2 years, $126M (2023) → $1.4 (AUD) (background chart ) defining high-grade core of 3.9% CuEq Has grown B26 VMS deposit from 12Mt to 25Mt (I&I) of 1.2-1.6%
Slide 11: KSO Project
Target: KSO Project • +30Mt high-grade Cu-Au VMS deposit Concept: • Small mine 1902-1907 (1.7% Cu, 1.9 g/t Au). Very limited exploration. Potential for Historic Cu-Au stacked lenses of copper-gold-rich VMS at surface to be part of a large system. mine with modern • Chip samples up to 3.7 g/t Au, 54.
Slide 12: Southern Prince of Wales Island
Southern Prince of Wales Island Excellent Infrastructure • Forestry roads to within 1 km of prospects • Logging around McKenzie Inlet and surrounding area • Nearby towns of Klawock, Craig, Hydaburg, Hollis • Regular flight, ferry, and barge service • Barge access points in McKenzie and Polk Inlets 1
Slide 13: Khayyam Mine Site: Surface Rock Sampling
Khayyam Mine Site: Surface Rock Sampling Coarse crystalline massive sulphide with high-grade copper, gold, silver, zinc X Massive sulfide from Adit 6 showing banded pyrite, chalcopyrite, and bornite. Photo is from an area sampled as a 1.2m chip grading 6.2 g/t Au, 83.7 g/t Ag, 11.8% Cu, and 6.1% Zn
Slide 14: Khayyam Mine Site
Khayyam Mine Site Thick Beds of Massive Sulfide at Surface Stumble-On Mine Site 10 to 15ft wide Zone of Massive Sulfide +/-1000ft strike at Khayyam Mine Site Six stacked lenses Chip samples run 1.9% to 8.1% Cu & 0.7 to 4.3 g/t Au 14
Slide 15: Khayyam Mine Site
Khayyam Mine Site Lenses of massive to semi-massive pyrite and chalcopyrite, with subordinate pyrrhotite, sphalerite, and magnetite At least six lenses, up to 8m thick over a 70 m- thick stratigraphic interval Chip samples up to: 3.7 g/t Au, 54.9 g/t Ag, 8.1% Cu, 6.5% Zn over 2.2 m Strike, width, an
Slide 16: Stumble On: More Trees, Similar High Grade Copper
Stumble On: More Trees, Similar High Grade Copper Sample Au g/t Ag g/t Cu % Zn % Type Notes Sample B0171705: 4.9% copper, B0171704 0.49 46.2 7.38 3.40 Grab/Float Msv Cpy-Py float boulder 0.47 g/t gold, 33 g/t silver, 2.6% B0171705 0.47 32.6 4.93 2.63 Chip 2ft Chip across Msv Sx bed zinc in 2ft chip
Slide 17: KSO: 2025 Geophysics
KSO: 2025 Geophysics Massive sulphides are the only known rock type in the area that generate significant electromagnetic (EM) response. October 2025 survey identified strong EM conductors associated with known massive sulfides and large NEW conductor anomalies on trend to the west (that Alex staked
Slide 18: 2026 KSO Accomplishments
2026 KSO Accomplishments Exploration Program (June through July) 3,058.1m drilled on 3 targets (64 m/d incl weather & move days) Surface and downhole EM across 3 targets UAV Mag and Photogrammetry survey of entire claim block 2+ weeks of mapping by Keaton Strongman, PhD, and Alex geologists
Slide 19: Stumble On Drilling
Stumble On Drilling Three holes: • Two tested under known massive sulphide lens • One tested EM target to the east 19
Slide 20: Khayyam Drilling
Khayyam Drilling Nine holes • Tested under the known massive sulphide lenses Objectives • Track massive sulphide to depth • Understand stratigraphy, alteration, structure • Assess relationship between sulphide bodies and EM response 20
Slide 21: Western Anomaly
WESTERN ANOMALY NEW discovery → Largest alteration system on the property, with multiple massive sulphide showings! 3 new massive sulfide lenses and several stringer NEW! Massive zones discovered in limited first field season Sulfide Outcrops 4 holes drilled from 2 pads based on EM targets Not yet t
Slide 22: Western Anomaly: New Massive Sulfide Discoveries
WESTERN ANOMALY 3 New Massive Sulfide Discoveries 22
Slide 23: Staking: KSO Expanded & Regional Wales Group Targets Added
STAKING KSO Expanded & Regional Wales Group Targets Added Staked all VMS prospects in historic reports. The number of occurrences, aligned with overall geology, is promising. This region has seen very little work. Alex sees significant discovery potential beyond KSO 23
Slide 24: Wodski
Wodski Target: +30Mt ‘Greens Creek Style’ VMS Deposit (100s g/t Ag, 1-5 g/t gold, 12%+ Zn-Pb) A High-Grade Concept: Ag-Au-Zn-Pb Limited outcrops reveals widespread Greens Creek-like mineralization – similar host Discovery rocks, metal ratios and ability to generate thick intervals of high-grade
Slide 25: Wodski History: A Compelling Discovery Without Follow-Up
WODSKI HISTORY A Compelling Discovery Without Follow-Up Prospecting identifies multiple Greens Creek Discovery VMS occurrences on island 20 years: No further exploration 1980 2004 2024 – 2025 1975 1990 2004 – 2024 Soil anomaly led to limited drill Staked project Greens Creek style intercepts but eff
Slide 26: Wodski: A high-grade VMS discovery opportunity
Wodski: A high-grade VMS discovery opportunity Lost Lake: historic “Geologic Inventory” • Shallow (30m) grid drill program defined 502,400 Lost Lake tonnes @ 78 g/t Ag, 8.1% Zn, 0.63% Pb 1,2 Scott Mad Dog: early-stage ‘Greens Creek’ discovery Over 12 kms of • 5.4m @ 437 g/t Ag and 22.24% Zn+Pb prosp
Slide 27: Wodski Project: Greens Creek-Type Intercepts in 2004
Wodski Project: Greens Creek-Type Intercepts in 2004 Mad Dog Prospect – Zero Follow-up Since Drill Hole From (m) To (m) Interval (m)* Ag (g/t) Zn (%) Pb (%) MD04-01 30.3 35.7 5.4 437 18.5 3.8 And 40.7 57.7 17.7 223 11.7 1.0 No gold Including 49.4 53.2 3.8 565 22.4 2.8 reported then... MD04-02 34.1 3
Slide 28: Wodski Project: Mad Dog 2025 Results
Wodski Project: Mad Dog 2025 Results Gold present in Greens Creek-like levels Grab Samples: •203 g/t Ag, 10.5 g/t Au, 15.7% Zn, 3.1% Pb •257 g/t Ag, 1.7 g/t Au, 20.6% Zn, 1.5% Pb •381 g/t Ag, 3.8 g/t Au, 16.3% Zn, 1.7% Pb •211 g/t Ag, 3.5 g/t Au, 3.2% Zn, 3.0% Pb 28
Slide 29: 2026 Wodski: Accomplished and Imminent
2026 Wodski: Accomplished and Imminent Exploration Program (August to October) 3,138 m drilling at Mad Dog UAV Mag of entire island Photogrammetry of coastline 2+ weeks of mapping by Archer Cathro (Steve Israel) and Alex geologists Sampling and mapping at key prospects Lidar/Imagery (Fal
Slide 30: Wodski Drilling
Wodski Drilling Three drill pads on Mad Dog Island • Tested lens from 2004 (holes 8-10) • Stepped back (holes 11-13) • Drilled long hole southwest to test under exhalative chert/jasper outcrop (hole 14) • Stepped back again (holes 15-19) One pad on Butterworth Island: drill the tidewater outcrop of
Slide 31: In 2027: Use Mad Dog understanding to search along horizon
In 2027... Use Mad Dog understanding to search effectively along the kilometres of prospective horizon on Woewodski Island Mad Dog-Brushy Creek horizon: • Mapping supports this rhyolite trend • Brushy Creek: interesting results from very limited work to date 31
Slide 32: In 2027: Lost Lake-Scott horizon
In 2027... Lost Lake-Scott horizon: • 3.2km of Au-Ag-Zn targets Lost Lake Geologic Inventory: 553,800 tons @ 87 g/t Ag, 8.1% Zn from 12 shallow holes 1,2 • High grades locally: 795 g/t Ag, 26.5% zinc over 0.5m Scott: semi- to massive sulphide along gulch for 110m • Chips up to 40.1% Zn, 45 g/t Ag ov
Slide 33: Selon NRT)
Selon NRT)
Slide 34: Frenchie Geology: Walk-up drill target
Target: Frenchie Geology • +30Mt high-grade ‘Greens Creek Style’ Ag-Au-Zn-Pb VMS deposit Concept: Walk-up drill target • Gold-rich Greens Creek type massive sulfide prospect: 3-5m thick massive sulfide in a Greens Creek– exposed for 180 meters in a creek cut. style VMS system Option: 750,000 shares
Slide 35: Frenchie Geology
Frenchie Geology Late Triassic VMS Host (in green). New understanding: dips moderately northeast FIII Rhyolite, graphic phyllites, Fe-Ti-dykes 35
Slide 36: 2026 Frenchie Program
2026 Frenchie Program 2+ weeks mapping (Archer Cathro) Built understanding of stratigraphy and orientation. Found new prospects, correlated old. Tightly-spaced gravity survey (October) Test efficacy of distributed IP (October) LiDAR & Imagery Objective: prepare for drilling in 2027 36
Slide 37: High Standards Operations
High Standards Operations Exploration must be done well. We strive for best practices— across every part of the program. 01 COMMUNITY PARTNERSHIP Engage early in Hydaburg, build a relationship with SE Alaska, and prioritize local hiring. 02 FIELD LEADERSHIP Pair technical depth with hands-on leaders
Slide 38: Capitalization Table
Capitalization Table Investor Group Shares Ownership % Alex has been able to secure a shareholder Insiders 12,352,600 27.5% Investor Ownership Mix base of highly Foundational 10,760,713 23.9% recognized individuals in Retail 11,600,374 25.8% Institutional the space. HNW 8,497,288 18.9% 4.0% Institut
Slide 39: Conclusion: Reasons to Own Alex Metals
Conclusion: Reasons to Own Alex Metals Clear Goal: to use deep VMS and Alaska exploration expertise to make a significant new VMS discovery in an underexplored belt of rocks that hosts standout VMS deposits and where exploration and mining are functional Serendipity: project watched for 20 years & c
Slide 40: www.alexmetals.com
www.alexmetals.com Gwen Preston, President and CEO gwen@alexmetals.com Taylor Ross, Investor Relations Manager taylor@alexmetals.com 40