Antipa Minerals (AZY) 2025 Precious Metals Summit - Zurich summary

Board and Management Experience

• Leadership team and board have over 200 years of combined experience across geology, mining engineering, metallurgy, law, and finance, with a proven track record from discovery to mine production.

• Board and management hold a significant equity stake, aligning interests with shareholders.

• Assembled specifically to discover and build mines, currently executing on this mandate.

Financial Position and Shareholder Structure

• Market capitalization is A$356M as of November 2025, with share price at A$0.54.

• Cash reserves of A$61M and no debt, fully funding aggressive drill programs and feasibility studies.

• 659M shares on issue, 44M options outstanding, and over 50% of shares held by a select group, including 40% institutional and 6.2% by Greatland Gold.

• EV per resource ounce is A$120.

• Research price targets range from A$1 to A$1.50.

Project Portfolio and Regional Context

• Portfolio covers over 4,100 km² in Western Australia's Paterson Province, near major mines and development projects.

• Paterson Province has seen 20 Moz gold and 3.4 Mt copper discovered in the last decade.

• Three large-scale gold-copper development projects in the region, including Minyari Dome.

• Project portfolio offers multi-layered value pathways and is positioned for further growth.