Caspin Resources Ltd. · ASX:CPN
Caspin Resources — Investor Presentation (October 2025)
20 slides from Caspin Resources's investor presentation, Oct 22, 2025
Slide 1: Company Presentation
For personal use only COMPANY PRESENTATION CASPIN RESOURCES (ASX: CPN) GREG MILES, Managing Director 22 October 2025 www.caspin.com.au
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not
Slide 3: Corporate Overview
CORPORATE OVERVIEW Successful exploration, corporate and capital markets team CPN – ASX Share Performance (6 months) LEADERSHIP TEAM $0.140 2,000,000 Volume Close $ 1,800,000 For personal use only $0.120 1,600,000 $0.100 1,400,000 $0.080 1,200,000 1,000,000 $0.060 800,000 $0.040 600,000 400,000 $0.0
Slide 4: An Emerging Tin Project and now Exposure to Gold
An Emerging Tin Project and now Exposure to Gold In the heart of the Wagga Tin Granite Belt, NSW • 100% ownership of the Bygoo Tin Project covering 1,180km2 For personal use only • Surrounds the Ardlethan Tin Mine (excised), which was the largest tin mine on mainland Australia, producing >31kt Sn un
Slide 5: Maiden Resource Estimate – Kelpie Deposit
Maiden Resource Estimate – Kelpie Deposit A significant step towards a viable mining project • Inferred Mineral Resource Estimate of: 3.94Mt @ 0.5% Sn for 19,300t of contained tin For personal use only • Very robust estimate based on >20,000m of drilling • Defined within an optimised pit shell to 19
Slide 6: Very Large Exploration Target
Very Large Exploration Target Major upside to be realised by more drilling • Exploration Target of: 12-20 million tonnes (Mt) grading 0.35-0.50% Sn For personal use only • Growth in Kelpie to be realised by: Infill drilling between resource lodes Extensions up to 250m along strike to the north a
Slide 7: Excellent potential to host a large-scale tin province
Excellent potential to host a large-scale tin province Majority of the project yet to be effectively explored • Kelpie Deposit and Exploration Target represent just 5% of the For personal use only prospective eastern contact of the Ardlethan Granite • 20km of prospective contact, very little modern
Slide 8: New Target Developing At Ardlethan East
New Target Developing At Ardlethan East Attractive Ardlethan Mine ‘look-a-like’ target For personal use only • Multiple coherent basement geochemical anomalies • Peak assay of 1.86% Sn from bottom of role RAB, with no follow-up drilling • Rock chips nearby >0.1% Sn • Coincident with magnetic feature
Slide 9: Kelpie Amenable to Ore Sorting
Kelpie Amenable to Ore Sorting Positive results from first inspection testing at TOMRA • High-grade feed upgrade approximately 3x times with 71% mass rejection For personal use only • Low-grade feed upgrade approximately 6x times with 92% mass rejection • Only a small volume test, but provides confi
Slide 10: Kelpie – A Significant Australian Tin Project
For personal use only Kelpie – A Significant Australian Tin Project 1 1. Peer group represents all ASX listed companies with primary tin assets and First Tin PLC, listed on LSE. 2. MLX Ore Reserve Update 31 January 2025 3. SKY ASX Announcement 23 January 2024 Kelpie is an 4. SRZ ASX Announcement 4 S
Slide 11: Weethalle Gold Project Option
For personal use only WEETHALLE GOLD PROJECT OPTION Low-cost exposure to large scale IRGS target 11
Slide 12: An Emerging Tin Project and now Exposure to Gold
An Emerging Tin Project and now Exposure to Gold In the heart of the Wagga Tin Granite Belt, NSW • Option over 80% of the Weethalle Gold Project – a drill-ready, large-scale For personal use only Intrusive Related Gold target New, 2,000m long geophysical and geochemical target, <200m below surface
Slide 13: Weethalle: Regional Structural Setting Similar to Hemi
Weethalle: Regional Structural Setting Similar to Hemi An exceptional discovery-stage gold project with large scale potential For personal use only Hemi (rotated) Weethalle • Weethalle Granite a unique circular feature within the Cobar-Wagga Tectonic Zone – similar geometry and size to 12Moz Hemi De
Slide 14: Historical gold and silver mining at Euratha
Historical gold and silver mining at Euratha Evidence of high-grade gold • Euratha Lode: 300m strike, 100m deep ~ 1m thick For personal use only • Very high grades - Average 1-3oz/t gold, up to 5oz/t gold, plus silver • Importantly, abundant sulphides and quartz = receptive for mapping by Induced Po
Slide 15: Induced Polarisation Anomaly
Induced Polarisation Anomaly Euratha Mine Section • Modest IP anomaly associated with the Euratha Mine • But – better anomaly at depth! For personal use only • And – stronger, larger anomaly to the southeast! 15x background • 2km combined strike of IP anomalism – Never drill tested! • Note – granite
Slide 16: Coincident IRGS Geochemical Signature
Coincident IRGS Geochemical Signature Strong correlation between geochemistry and IP anomalies • Pathfinder anomalies (As, W, Pb) For personal use only for gold and silver. Very high correlation • Bulk of anomalism to the southeast of Euratha workings, coincident with IP anomalies • Approximately 2k
Slide 17: Site Visit
Site Visit Directors & Exploration team onsite at Weethalle Project, October 2025 For personal use only 17
Slide 18: Next Step – Drilling!
Next Step – Drilling! Multiple independent datasets pointing to a large mineral system For personal use only Option Period Work Program: • Land access agreements in place • Environmental permitting received • First drilling targeting IP and geochem anomalies scheduled for late October Simplified dea
Slide 19: Exciting Times Ahead
Exciting Times Ahead SEP OCT NOV DEC JAN FEB For personal use only Kelpie Ore Sorting Results Kelpie Metallurgy Results Weethalle Drilling Bygoo Regional Exploration Targeting Kelpie Resource Extension Drilling * Indicative – Maybe subject to change 19
Slide 20: Caspin Resources Limited
For personal use only CASPIN RESOURCES LIMITED Ground Floor, 675 Murray Street West Perth, Western Australia 6005 T: +61 8 6373 2000 E: admin@caspin.com.au ASX: CPN FOLLOW US: Receive news direct to your inbox Subscribe on the Caspin website www.caspin.com.au QR 26/03/24 20
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