Neometals (NMT) investor relations material

Strategic focus and project development

• Refocused on gold production in September 2024 to rebuild the balance sheet amid declining critical metals prices.

• Targeting near-term gold production at the Ironclad deposit, with a production joint venture expected by March and first gold bars anticipated next year; Letter of Intent signed with BML Ventures for a 50:50 profit-sharing JV, including a 90-day exclusivity period for due diligence and mine planning.

• Strategy centers on self-funding exploration, extending mine life through advanced prospects and resource expansion, and leveraging historical high-grade gold workings across a 40 km strike length.

• Maintaining commodity diversification with ongoing lithium, vanadium, and copper projects, including a lithium brine initiative in Utah and the Vanadium Recovery Project in Finland targeting construction from H2 2026 to H1 2029.

• Business model emphasizes capital-light, diversified commodity exposure and ESG-aligned growth, with a strong management and technical team.

Resource base and exploration highlights

• Holds 500 sq km of tenements, with 300 sq km of granted mining leases over the Barrambie Greenstone Belt.

• Ironclad Deposit hosts an Inferred Mineral Resource of ~250,000t @ 1.6g/t Au (13,000oz), with an updated resource estimate due March Quarter 2026 following recent infill and extension drilling.

• Exploration targets across Barrambie tenure range from 335,000 to 775,000 oz Au, with ongoing drilling and resource extension at Ironclad North and Barrambie Ranges.

• High-grade intercepts include 20–30 meter zones at 3–4 g/t gold, with grades and widths increasing at depth; metallurgical tests show free-milling ore with up to 98% recovery and low reagent consumption.

• Rinaldi copper prospect shows high-grade surface samples, up to 24% copper, with imminent drilling to define structure and mineralisation.

Operational and financial outlook

• Production joint venture structure minimizes upfront capital, with contractors funding working capital and providing toll milling.

• Native vegetation clearing permit submitted; mine development and closure plan to follow next quarter; mining and environmental studies, approvals, and grade control drilling scheduled through 2026.

• Market capitalisation of A$46.2m as of February 2026, with A$6.4m cash and no debt reported at year-end 2025; 770.5 million shares on issue and over 11,000 shareholders.

• Major shareholders include William Richmond (10.2%) and Clearstream Nominees (5.6%).

• Team highlighted as a key asset, with a track record of successful project delivery and value creation, and extensive experience in mining, finance, and project development.