Antipa Minerals (AZY) investor relations material

Portfolio and resources

• 3,840 km² wholly owned Paterson Province land package, near Telfer, Havieron and Winu; regional discoveries cited at ~20Moz gold and 3.4Mt copper over nine years.

• Mineral Resources total 2.9Moz gold, 91kt copper and 880koz silver; the presentation reports 3.6Moz gold equivalent.

• Minyari Dome MRE: 51Mt at 1.54 g/t gold for 2.5Moz gold; the presentation cites 3.2Moz AuEq for this resource and 3.6Moz AuEq for the wider project.

Minyari development

• Principal PFS technical studies completed; five processing options assessed and a gold doré plus copper concentrate pathway selected.

• Mine scheduling optimized for earlier higher-grade ore access, less upfront waste movement and improved capital efficiency; project economic modelling was in its final stages.

• The 2024 Scoping Study base case outlined 30.2Mt at 1.5 g/t Au, 3Mtpa throughput for 10+ years, 90% gold recovery and 1.3Moz initial gold output.

• Scoping Study estimates at A$3,000/oz gold: pre-tax NPV7% A$834M, IRR 52%, AISC A$1,721/oz and capital cost A$306M; study accuracy stated as ±35%.

Exploration and growth

• CY2026 drilling programme commenced in April; 330 RC, diamond core and air core holes totalling 42,250m completed year to date.

• Fiama North discovery, 65m north of Fiama, returned 24.7m at 1.4 g/t gold and 0.07% copper; mineralisation remains open in multiple directions.

• Tim’s Dome eastern reef drilling returned maximum 1m grades of 10.05 g/t gold, 2.51% copper, 1.84% lead and 6.4 g/t silver; diamond drilling of the AEM target was completed, with results pending.

• AL01, 17km north of Minyari, has multiple gold-copper anomalies over 4km combined strike; follow-up air core defined 2km of gold-copper anomalies and RC drilling commenced.

• Mollie is a 1.2km by 1.8km magnetic-gravity skarn target; a WA Government A$220k EIS grant will co-fund diamond drilling.