Waratah Minerals Limited · ASX:WTM
Waratah Minerals — Investor Presentation (November 2026)
26 slides from Waratah Minerals's investor presentation, Nov 9, 2026
Slide 1: Major Australian Gold Discovery
rsonal use only ASX:WTM Major Australian Gold Discovery Investor Presentation November 2026
Slide 2: From Discovery to 3.1 Moz in 14 Months
From Discovery to 3.1 Moz in 14 Months A multimillion-ounce foundation with clear pathway to resource growth rsonal use only ASX:WTM Major Australian Gold Discovery Rapid delivery: maiden MRE achieved within approximately 14 months of the discovery hole at Consols, at an all-in discovery cost2 of $1
Slide 3: Clear Pathway to Rapid Resource Growth
Clear Pathway to Rapid Resource Growth 5.1–10.4 Moz at 0.6 to 0.9 g/t Au for rsonal use only 287 to 350 Mt of mineralised material ASX:WTM Covers extensions of known mineralisation outside the maiden MRE Highlights the Major Australian Gold Discovery substantial scale and resource growth potential o
Slide 4: Corporate Overview
Corporate Overview 388M 9% Significant Shareholders Analyst Coverage Shares on Issue Board and Management rsonal use only (ASX Code: WTM) (fully diluted) Gladstone Mining 8.5% ASX:WTM Farjoy 7.7% $0.79c $307M $44.5M Acorn Capital 5.1% Sprott Inc 5.0% Share price Market Cash at bank (9 Nov 2026) Capi
Slide 5: A Proven Discovery Team
A Proven Discovery Team Strong record of discovery, value Board of Directors creation, resource rsonal use only development & ASX:WTM Dr. Andrew Stewart Naomi Scott project divestment Executive Chair and Managing Director Executive Director in Australia & globally Geologist with over 25 years’ exper
Slide 6: Macquarie Arc: Home of World-Class Gold-Copper Deposits
Macquarie Arc Home of World-Class Gold-Copper Deposits rsonal use only ASX:WTM Australia’s Premier Au - Cu Belt • Gold and copper elephant country • > 80 Moz Au / 13Mt Cu endowment 1 Major Australian Gold Discovery • Several major mining operations • Discovery potential validated by recent discoveri
Slide 7: Strategic Position in an Established Mining District
Strategic Position in an Established Mining District A gold district hiding in plain sight rsonal use only Developed Infrastructure ASX:WTM • High Voltage Power / Gas - State Grid • Several major mining operations Major Australian Gold Discovery • Skilled local workforce Brownfields Environment • Un
Slide 8: Spur Gold – Copper Project
Spur Gold – Copper Project Highly strategic district-scale land position rsonal use only 100% Ownership of a Large Gold District ASX:WTM • Multiple discovery opportunities • Numerous multiphase intrusive porphyry Major Australian Gold Discovery complexes • Covering ~100 square kilometres Unique & St
Slide 9: Year History with ~61,500m of Drilling
160 Year History with ~61,500m of Drilling rsonal use only Waratah has Drilled 80,000m in < 1 year ASX:WTM Pre-1970s Major Australian Gold Discovery Pre Waratah: 160 years with ~61,500m of Drilling Waratah: 80,000m Drilling in < 1 year 2018 Pre-1970s 2024/25 2026 • Historical mining • 1860s alluvial
Slide 10: District Architecture: Multiple Discovery Opportunities
Gazzards Prospect rsonal use only ASX:WTM Alpine Prospect 6km mineralised corridor District Architecture Multiple Discovery Major Australian Gold Discovery Ironclad Opportunities Prospect Spur is developing into a 6–km- mineralised corridor of linked Consols discoveries Deposit Spur Deposit Gum Flat
Slide 11: Consols Gold Zone
Consols Gold Zone Major New Gold Discovery Growing Consols zone: rsonal use only >300m east-west ASX:WTM >400m north-south and >600m vertically Series of east-west quartz- sulphide sheeted vein sets Major Australian Gold Discovery Associated with strong potassic alteration Potential for further sign
Slide 12: Consols Gold Zone
Consols Gold Zone Major New Gold Discovery Four high-grade gold bearing zones in rsonal use only the footwall of the Cothi Fault ASX:WTM East-west quartz-sulphide sheeted vein sets associated with strong potassic alteration Major Australian Gold Discovery A FW2 - SPD075: 1m @ 15.69g/t from 328m FW3
Slide 13: Spur Gold Zone
Spur Gold Zone Rapidly Demonstrating Growing Systems rsonal use only ASX:WTM Spur zone covers 1km x 250m • Domain south of Essex Fault • Diamond drilling defining a large system Major Australian Gold Discovery with numerous high-grade shoots • Multiphase veining, stringers and disseminated gold • Hi
Slide 14: Spur Gold Zone
Spur Gold Zone rsonal use only ASX:WTM Major Australian Gold Discovery SPD058 @ 43-44m 108g/t Au. Gold and native bismuth precipitating on the intersection between vein sets SPRCD037 @ 436-437m 11.6g/t Au. Massive sulphide veins SPRCD037 @ 448-449m 7.06g/t Au. Quartz carbonate 14 sulphide breccias 4
Slide 15: Drilling Links Spur and Essex
Drilling Links Spur and Essex Highlighting Resource Growth Potential rsonal use only ASX:WTM Major Australian Gold Discovery 15 44.3g/t 44.3g/t Au Au
Slide 16: Northern Continuity
Northern Continuity Drilling confirms district-scale system with 6km of strike between Spur and Gazzards rsonal use only ASX:WTM Exploration Drilling Returns Strong Shallow Results ALPINE 20m @ 1.82 g/t Au from 53m incl. 8 m @ 4.38 g/t from 55m Major Australian Gold Discovery ALPINE 10m @ 2.46 g/t A
Slide 17: Consistent Early Test Work Supports a Conventional Pathway
Consistent Early Test Work Supports a Conventional Pathway Results suggest simple, conventional process pathway for Spur rsonal use only ASX:WTM Geometallurgical Results • High gold recoveries of over 90% (90-97%) by gravity and conventional leaching Major Australian Gold Discovery • Coarse, free mi
Slide 18: Unlock Australia's Next Multi-Million Ounce Gold District
rsonal use only ASX:WTM Major Australian Gold Discovery “We are working to unlock Australia’s Next Multi-Million Ounce Gold District.” – Dr. Andrew Stewart, Executive Chairman 18
Slide 19: Targeting Moz MRE at Spur Gold Project
Targeting 5 Moz MRE at Spur Gold Project Rapid Resource Growth in 2027 rsonal use only Clear pathway to 5 million ounces ASX:WTM • 50,000-metre drilling program in 6 months • 12 drill rigs active Targeting & scope Major Australian Gold Discovery • Multiple rigs targeting shallow, near-surface minera
Slide 20: Investment Summary
District scale Investment gold system Summary rsonal use only ASX:WTM Resource Unlocking Australia’s Next growth potential Multi Million-Ounce Gold District Major Australian Gold Discovery Funded for rapid upside Tight structure & commercial team 20
Slide 21: Andrew Stewart
rsonal use only Andrew Stewart Executive Chair and Managing Director E: info@waratahminerals.com W: waratahminerals.com ASX:WTM 21
Slide 22: Maiden MRE
Maiden MRE M AIDEN 3.1 Moz Au at 1.2 g/t Au rsonal use only M RE (Spur and Consols Zones) ASX:WTM Mineral Resource Estimation Summary Zone Tonnes (Kt) Au (G/T) Category Au Metal (Koz) Spur & Consols Major Australian Gold Discovery Spur & Consols | Open Pit | 0.5 G/T Au Cutoff Spur & Consols Open Pit
Slide 23: Exploration Target
Exploration Target EXPL. 5.1–10.4 Moz at 0.3 to rsonal use only TARGET 1.8 g/t Au for 287 to 350 Mt ASX:WTM Exploration Target - Summary Containe Containe Tonnes Tonnes Au Grade Au Grade Min. d Au d Au Major Australian Gold Discovery Prospect Lower Upper Lower Upper Style Lower Upper (Kt) (Kt) (G/T)
Slide 24: 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 25: References
References ▪ Alkane Resources, Group Reserves and Resources Statement, 11 Sep 2026 ▪ Evolution Mining, Reserves and Resources Statement, 31 Dec 2025 ▪ LinQ Minerals, Replacement Prospectus, 25 Jun 2025 ▪ Newmont, Mining Annual Mineral Resources and Ore Reserves Statement, 2023 rsonal use only ▪ Regi
Slide 26: Establishing Spur as Australia's Next Major Gold District
Establishing Spur as Australia’s Next rsonal use only Major Gold District ASX:WTM Large-Scale Australian Gold System Major Australian Gold Discovery Substantial initial MRE at Spur with significant scale and resource growth potential Strong executive team & board High calibre discovery team with str
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