GBM Resources (GBM) investor relations material

Portfolio scale and value drivers

• Mineral resource: 45.7Mt at 1.26g/t Au for 1.84Moz; 90% is within granted Mining Leases and 55% is Measured and Indicated.

• Portfolio spans ~4,000km² in the underexplored Drummond Basin, with Twin Hills, Yandan and Mt Coolon projects and multiple growth pathways.

• Key priorities: advance Twin Hills technical studies and development options, grow existing resources, and add resource centres through new discoveries.

Twin Hills growth and development

• Twin Hills resource is ~1.0Moz across 309 and Lone Sister; 50km drilling program has completed ~32,000m, with ~1,400m of assays pending and an MRE update underway.

• Lone Sister resource: 12.4Mt at 1.2g/t Au for 0.48Moz; 11.8Mt at 1.1g/t above 0mRL and 0.68Mt at 2.7g/t below it.

• 309 resource: 10.6Mt at 1.5g/t Au for 0.52Moz; extensions include 18m at 12.01g/t, including 2m at 104.61g/t, and 37m at 5.00g/t, including 3m at 29.96g/t.

• Rougher flotation recovered 92.0–98.9% of gold into 4.8–8.7% of feed mass at a 75μm grind; final recovery depends on concentrate cleaning and treatment.

• Flowsheet work includes flotation optimisation, concentrate cyanide leaching, assay verification, mineralogy and further CIL and comminution tests; flowsheet design expected Q1 2027.

Yandan exploration potential

• Yandan resource is 0.51Moz; East Hill accounts for 12.8Mt at 1.1g/t Au for 0.44Moz, including a 1.1Mt high-grade core at 5.7g/t for 201koz.

• East Hill intersections include 58.5m at 10.95g/t Au, including 28.7m at 18.31g/t, and 12.7m at 49.2g/t, including 2.5m at 247.9g/t.

• Modern 3D IP extends targeting to ~400m depth versus ~150m for historical IP; interpreted feeder structures beneath the Main and South pits remain under-tested.

• Soil geochemistry covers ~8% of the Yandan project area; intrusion, gold-in-soil and magnetic-low associations are guiding regional target generation.