AusQuest (AQD) Corporate presentation summary

Strategic partnerships and business model

• Maintains a strategic alliance with South32, granting exclusive rights and funding for selected projects, with a 15% fee and a US$4.5M spend earning 70% equity for South32.

• Manages all drilling programs during South32's earn-in period and retains 100% of projects if South32 withdraws.

• Focuses on scalable base and other metal projects in Australia and Peru, emphasizing early drilling and rigorous target selection.

Key projects and exploration highlights

• Balladonia project in Western Australia targets Broken Hill Type terrane, with multiple drill targets for Pb-Zn-Ag and Cu-Au, supported by gravity and EM surveys.

• Morrisey project has identified coarse-grained magnetite with premium Fe content (>70% Fe in DTR tests), with recent RC drilling intersecting thick magnetite zones.

• Moora and Jubilee projects are being advanced for Ni-Cu-PGE potential, with drilling planned in late 2024.

• In Peru, three large-scale copper targets (Cangallo, Lantana, Playa Kali) are ready or near-ready for drilling, with strong surface geochemistry and proximity to infrastructure.

Exploration plans and timelines

• Gravity and EM surveys at Balladonia to prioritize targets ahead of a major drilling program in H1 2025.

• DTR test results pending for Morrisey, with further drilling and target definition ongoing.

• Drilling permits approved or being prepared for Cangallo, Lantana, and Playa Kali in Peru, with drilling planned over the next 6–12 months.