Indiana Resources (IDA) investor relations material

Key presentations and project updates

• Indiana Resources highlighted aggressive gold exploration in South Australia's central Gawler-Creighton region, focusing on the Lake Labyrinth Shear Zone with over 50 km of strike and multiple high-grade prospects, supported by a strong $37 million cash position.

• The company is executing a robust drilling program at Minos, Ariadne, and Company Well, with significant assay results pending and plans for a 5,000 m air core program followed by RC drilling to expand resources.

• Strategic engagement with traditional owners has secured access agreements, enabling ongoing and future exploration without delays.

• Indiana Resources has returned over $60 million to shareholders in the past year and is not planning further capital raises, focusing on leveraging its cash for exploration and growth.

• Flagship Minerals is undergoing a corporate transformation with the acquisition of the Pantanillo Gold Project in Chile, aiming to capitalize on low-cost, low-capital-intensity heap-leach gold production.

Industry analysis and market positioning

• The Maracunga Gold Belt in Chile, where Pantanillo is located, hosts over 100 million oz of gold resources, with major players operating nearby and strong infrastructure support.

• Pantanillo's current resource is 1 million oz at 0.69 g/t, with plans to update to a JORC-compliant MRE and expand the resource through strategic drilling and pit shell optimization.

• The project benefits from high oxide recoveries (80%+ in 30 days) and a low strip ratio, supporting a 10-year mine life on oxides and mixed zones.

• Pantanillo is valued at $22/oz, significantly below the peer group average of $117/oz, indicating strong value upside as the project advances toward feasibility.

• Both companies emphasized the importance of cost control, capital efficiency, and leveraging favorable gold market conditions for future growth.

Forward-looking statements and plans

• Indiana Resources will continue aggressive exploration, with a focus on near-term results and resource growth at Minos and surrounding prospects, supported by ongoing assay results and new geophysical data.

• Pantanillo aims to deliver a JORC MRE update by year-end, optimize the resource with a lower cut-off grade, and expand through targeted drilling, with feasibility work to follow.

• Both companies are committed to disciplined capital management, minimizing dilution, and maximizing shareholder value through project advancement and strategic exploration.

• Engagement with local stakeholders and regulatory compliance remain priorities to ensure uninterrupted project development.

• Ongoing news flow is expected from both companies as exploration and resource updates progress.