Golden Horse Minerals (GHM) investor relations material

Strategic overview and asset position

• Holds 1,800 sq km of tenure and over 100 km of strike on the Southern Cross Greenstone Belt, a historically prolific gold region with over 19 million ounces discovered to date.

• Assembled the land package through 20 corporate transactions, now controlling previously fragmented tenure and enabling comprehensive exploration.

• Flagship project is 7 km from Southern Cross, with direct access to infrastructure and mining leases, facilitating approvals and operations.

• Market capitalization is near AUD 200 million, with AUD 40–42 million in cash, and strong institutional support, including a 20% stake by Emerald Resources.

• Coverage from major analysts and brokers, with recent listing history of 14 months and active investor engagement.

Exploration progress and drilling plans

• Completed 40 km of drilling in the previous year, focusing on Hopes Hill and regional targets, with every hole intersecting mineralization.

• 2026 program includes 125 km of drilling: over 20 km of diamond drilling and 100+ km of RC drilling, targeting both flagship and regional prospects.

• Hopes Hill historic pit (1.3 km) only mined to 50 m; current drilling extends mineralization at depth and along strike, aiming to expand to a 2.5 km pit.

• Recent drilling at Marionette and Hakes Find yielded high-grade intercepts, with new targets like Paddocks set for initial drilling.

• First visible gold in diamond drilling for 2026 reported at 280 m below the historic pit, indicating depth potential.

Metallurgy, approvals, and development outlook

• Historic production at Hopes Hill exceeded 200,000 ounces at 2.2+ g/t, with high recoveries from a CIL plant; current metallurgical tests show 95%+ recovery.

• Ongoing flora, fauna, and heritage studies, with close collaboration with native title groups to support permitting.

• All main assets are on mining leases, and historical mill sites simplify future development and approvals.

• Moving towards a maiden resource estimate (MRE) and first scoping study in 2026, leveraging strong funding and technical team.

• Strategy emphasizes aggressive exploration, news flow, and rapid advancement toward development.