Santana Minerals (SMI) investor relations material

Project development and approvals

• Rapid progress from discovery to development, with first gold targeted for late 2028 and final approval expected by January 2027.

• Mining permit granted in November 2025 and OIO consent in May 2026, with advanced permitting milestones including expert hearings and management plan certification.

• Fast-track Approvals Act streamlines permitting, with 26 mining and other projects already approved.

• Project is well-funded, with a bank balance near AUD 180 million and a market cap of AUD 520 million.

• Operational readiness includes management in place, mining fleet procurement, and infrastructure development such as new access roads and power lines.

Resource and exploration highlights

• Bendigo-Ophir project hosts 2.34 million ounces, with the Rise and Shine deposit containing over 2 million ounces.

• Maiden reserve of 1.2 million ounces at 2.6g/t gold announced in late 2024, updated with a PFS in mid-2025.

• 93% of production target is within indicated resources, with ongoing exploration upside across 426 km² and 30km of strike.

• Recent drilling extends high-grade zones, with intercepts such as 11 m at 8.5 g/t and 37 m at 1.7 g/t, and significant down-plunge extension at the Rise & Shine deposit.

• Soil anomalies and new targets identified through mapping and sampling, supporting further resource growth.

Mine plan and operational readiness

• Staged open pit transitioning to underground mining, with underground development starting in year five and approximately 1 Moz from open pit.

• Targeting 120,000 oz annual production by year two, with a 1.2 Mtpa mill.

• Pre-strip of 17 million tons to expose ore, allowing time for plant construction and commissioning.

• Komatsu mining fleet commissioned, exploration base and infrastructure in place.

• Skilled residential workforce available, with strong local interest and support.