Santana Minerals Ltd. · ASX:SMI
Santana Minerals — Investor Presentation (February 2026)
23 slides from Santana Minerals's investor presentation, Feb 9, 2026
Slide 1: Bendigo-Ophir Gold Project
For personal use only Bendigo-Ophir Gold Project Developing New Zealand’s Next Major Gold Project in 2026 ASX/NZX: SMI
Slide 2: Disclaimer
Disclaimer For personal use only Disclaimer Cautionary Statement – Inferred Resources Included in Production Target All information contained in this presentation is of a general nature. Potential investors are cautioned against using the content of this Of the Mineral Resources planned for extracti
Slide 3: Company Snapshot
Company Snapshot For personal use only Board & Management Well Funded Peter Cook Kim Bunting Capital Structure Non-Exec Chair Non-Exec Director Geo and mine maker Geo who discovered RAS Market A$820 million Capitalisation 836 million FPO shares @ A$0.98/share – 6 Feb 2026 Damian Spring Emma Scotney
Slide 4: Low Risk Jurisdiction
Low Risk Jurisdiction For personal use only Fraser Institute 2025 – NZ outranks all Australian states 90km west of Macraes in Central Otago Private freehold farmland - under purchase agreements by Santana Area blessed with infrastructure, power, water. Access to skilled labour with 1000's
Slide 5: 30-Year Mining Permit Granted
30-Year Mining Permit Granted For personal use only 30-year mining permit granted by NZPAM FTA Resource Consent decision due 29 October 2026 Legal rights to mine within the permit Secures RAS, CIT and SREX New prospecting permit application in play to the north to secure new RAS extensions
Slide 6: Land Agreements Secured
Land Agreements Secured For personal use only Bendigo and Ardgour land packages now under binding, conditional agreements Agreement reached with CODC to relocate council roads Community benefit fund in place for local environmental and social initiatives Land under purchase agreement Bendigo
Slide 7: 2.3Moz Resource Inside Mining Permit
2.3Moz Resource Inside Mining Permit For personal use only Rise and Shine (RAS) RAS 2.08Moz @ 2.4 g/t Au 1.21Moz Probable Ore Reserve Come In Time CIT 59koz @ 1.5 g/t Au Srex SRX 145koz @ 0.9 g/t Au 30koz @ 0.7 g/t Au Ore Reserve SRE Srex-East 52koz @ 1.1 g/t Au RSSZ Combined Total 2.34Moz @ 2.1 g/t
Slide 8: 2.1Moz at RAS Wide Thick & Long
2.1Moz at RAS Wide Thick & Long For personal use only
Slide 9: Major RAS Extension
Major RAS Extension For personal use only Step-out hole tagged the orebody 465m away from MRE drilling Major zone of mineralised SBX (42m) Ore zone now 2.15km long Potential to add significant underground mine life
Slide 10: 2.1Moz at RAS Long Section
2.1Moz at RAS Long Section For personal use only
Slide 11: RAS Mining Schematic
RAS Mining Schematic For personal use only 1.25Moz bankable Reserve 993koz in open pits 316koz 993koz 316koz in underground so far Ongoing UG Resource conversion Major extensional intercept with 38.6m @ 1.70g/t 38.6m @ 1.7g/t
Slide 12: Feasibility Study
For personal use only Feasibility Study Current metrics from Updated PFS 2025 ASX/NZX: SMI
Slide 13: Open Pit at 1.2Mtpa
Open Pit at 1.2Mtpa For personal use only RAS/SRX gold inventory Mining physicals 13.8yrs mining 1.02Moz 11Mt @ 2.75g/t from RAS 1.4Mt @ 0.68g/t from SRX 12.6Mt at 2.5g/t 93% ore feed is Probable Reserve Mining method Mined gold Seven stages of cutbacks 993koz Au from RAS 200t class excavators 30koz
Slide 14: Underground Mine Plan
Underground Mine Plan For personal use only RAS UG inventory Mining physicals 7yrs mining 316koz 3.7Mt ore Total development 17km 3.7Mt at 2.7g/t 87% Indicated ore feed Step out drilling now underway Mining method Mined gold Long hole stoping w/paste fill 316koz Au 5.5mW x 5.5mW twin declines Cable
Slide 15: Projected Metrics
Projected Metrics For personal use only Ounce Profile at 1.2Mtpa 140 option to increase ounces per annum with mill upgrade to 1.8Mtpa 120 100 Production (kOz) 80 60 40 20 - Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Open Pit Underground Met
Slide 16: CIL Processing 1.2 to 1.8Mtpa
CIL Processing 1.2 to 1.8Mtpa For personal use only Six phases of metallurgical testing completed Very high recoveries at RAS of 93% THE PFS DESIGN USES SIMPLE CIL TECHNOLOGY TO GENERATE VERY HIGH RECOVERIES 1 Three stage crush 2 Ball milling 3 Gravity circuit 4 CIL 5 Electrowinning 6 Gold furnace 1
Slide 17: Exploration Growth
Exploration Growth For personal use only 30km of strike Strong soil anomalies at DNS and ORK Emerging new targets coming from mapping and soil sampling Stacked tailings from historic mining, untested
Slide 18: Permitting Timeline
Permitting Timeline For personal use only CODC Land Decision Submitted FTA Access Date Nov Dec Feb Feb Oct ‘25 ‘25 ‘26 ‘26 ‘26 2025 2026 Accepted by Panel EPA Appointment & Decision Date Set
Slide 19: Early Works Underway
For personal use only Early Works Underway
Slide 20: Development Timeline
Development Timeline For personal use only PROJECT: Bendigo-Ophir Gold Project Expected Planned 2026 2027 Project start date: H1 Q3 Q4 Q1 Q2 Q3 Q4 Milestone description Resource Consents Early Works Buildings Mine Entrance Work Services Establishment Pioneering Haul Road Construction Process Plant P
Slide 21: Summary
Summary For personal use only Biggest NZ gold discovery in 40 years Permitting underway with an approval decision on 29 October 2026 120koz per annum low-cost, long-life producer Construction beginning in late 2026 Over 350 direct jobs, and over NZ$2billion in taxes and government royaltie
Slide 22: Appendix 1: Mineral Resource Estimate
Appendix 1: Mineral Resource Estimate For personal use only Deposit Category tonnes (Mt) Au grade (g/t) Contained Gold (koz) Indicated 18.9 2.5 1,538 RAS Inferred 7.6 2.2 542 RAS Total Indicated and Inferred 26.5 2.4 2,080 CIT Inferred 1.2 1.5 59 SRX Indicated 2.2 0.8 54.7 SRX Inferred 2.9 1.0 90.5
Slide 23: Ore Reserve Table
Ore Reserve Table For personal use only Area Proven Probable Total Bendigo-Ophir Maiden Ore Reserve Mt Au g/t Mt Au g/t Mt Au g/t Au koz RAS open pit - - 10.5 2.78 10.5 2.78 937 15Mt @ 2.58g/t RAS 3.2 2.66 3.2 2.66 275 underground SRX 1.3 0.70 1.3 0.70 30 Total - - 15.0 2.58 15.0 2.58 1,242 Note 1:
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