Saturn Metals (STN) investor relations material

Project overview and operational highlights

• 10Mtpa processing plant designed to produce approximately 100,000–106,000 oz of gold annually, based on pre-feasibility study and detailed drawings.

• Located in Western Australia's Norseman-Wiluna Greenstone Belt, a prolific gold-producing region with strong infrastructure and workforce.

• Project holds 100% ownership of approximately 1,000–1,100km² of underexplored tenure, with a diversified institutional register and AUD 150 million cash supporting development.

• All ounces are contained in a single, low-strip, bulk mining open pit, enabling low unit operating costs and efficient processing.

• Ore zones can reach up to 300 m wide per bench, reducing operational complexity and costs.

Resource update and growth potential

• Mineral resource stands at 2.83Moz Au as of June 2026, with 77–86% in Measured & Indicated categories and a maiden ore reserve of 1.59Moz Au as of December 2025.

• Resource expansion achieved laterally at shallow depths, adding 600,000 oz in July and increasing measured and indicated resources to 2.2 million oz.

• Ongoing and planned drilling programs target resource extensions north and south, with 10,000m of RC and diamond drilling scheduled for each direction.

• Additional resource zones have been discovered and converted, with high-grade intersections and new east-west structures recognized.

• The project vision targets a 4–5 million oz gold system, with 2.8 million oz already in an economic scenario and high-grade shoots identified at multiple prospects.

Metallurgy, processing, and cost structure

• Gold is easily liberated from quartz, requiring only crushing for heap leach processing, minimizing energy and reagent use.

• Heap leach testwork demonstrates strong gold recoveries: 78% in fresh rock and 86% in oxide/transitional material at 8mm crush.

• PFS uses a 73.7% recovery rate and a 160-day stacking schedule, with low reagent consumption.

• All-in sustaining cost (AISC) is A$2,464/oz, and C1 cash cost is A$2,369/oz, with economies of scale from large equipment and bulk mining.

• Processing infrastructure is designed for a 10Mtpa operation, with A$472M capex paid back in 2.3 years.