Astral Resources NL (AAR) Investor Presentation summary

Project development and financial highlights

• Advancing a large-scale, long-life gold mine in Kalgoorlie targeting 100kozpa production with robust financials and a post-tax NPV8 of $1B at a $4,500/oz gold price, and a payback period of approximately 4 months.

• Scoping Study outlines a 7.8-year mining and 10.4-year processing life, with an AISC of A$1,692/oz and pre-production capital of A$123M.

• PFS is on track for June Quarter 2025, with key workstreams underway, including process plant OPEX, CAPEX, power studies, and contractor engagement.

• Combined group post-merger will have a strong balance sheet with ~$25.2M in cash and no near-term capital raising needs.

• Project is located in a Tier-1 mining jurisdiction with excellent infrastructure and proximity to major gold operations.

Resource base and exploration

• Total Mineral Resource Estimate stands at 1.47Moz, with 1.27Moz at Mandilla and 196koz at Feysville, both open-pit, shallow, and high-quality resources.

• Theia deposit at Mandilla is the cornerstone, representing 81% of Mandilla's MRE with 1.02Moz in a single large open pit.

• Recent drilling at Theia and Kamperman has returned high-grade intercepts, supporting resource growth and conversion from Inferred to Indicated.

• Ongoing exploration at Feysville and regional targets continues to expand the project scale and identify new opportunities.

• Discovery costs remain low, with recent additions at Mandilla and Feysville averaging A$17–19/oz.

Corporate and management overview

• Board and management team have extensive experience in mining, exploration, and corporate transactions, with a track record of successful project development and M&A.

• Significant shareholders include institutional investors and entities with strong sector expertise.

• Merger with Maximus Resources consolidates a contiguous 144km² land package, enhancing development flexibility and exploration potential.

• Well-funded through to final investment decision, with a share register capable of supporting future development and exploration.

• Only ASX junior with a project of this scale in the Kalgoorlie/Kambalda region, offering significant growth potential.