AusQuest (AQD) Investor presentation summary

Cangallo discovery

• 100%-owned porphyry copper system drilled from surface to 800m; mineralisation extends over 1.5km+ of strike and 250–500m width, and remains open along strike and at depth.

• 54 RC and 5 diamond holes totalling 25,000m drilled since Dec 2024; CANDD003 ended in mineralisation at 880m.

• Broad intercepts include 555m @ 0.26% Cu; selected higher-grade results include 12m @ 1.10% Cu and 68m @ 0.52% Cu.

• Two CSAMT target areas have resistivity signatures similar to the main porphyry system; large parts of the footprint remain untested.

Location and development potential

• Located 8–10km from the coast at 500–1,200m elevation, near the Pan-American highway and a grid power corridor, with potential port access.

• Oxide and supergene copper observations extend from near surface to ~300m; heap-leach amenability is to be tested in Q4 2026–H1 2027.

• Hypogene sulphide mineralisation extends to depths greater than 700m; the source porphyry has not yet been intersected.

• No Mineral Resource or Ore Reserve has been estimated; drill intercepts are down-hole lengths and true widths are unknown.

Work program and catalysts

• Stage 4 drill permits received, with 20 additional pads planned, focused in the south; drilling is intended to test extensions, depth and potential porphyry centres.

• Stage 3 diamond-drill assays, Stage 4 RC and diamond drilling, metallurgical test work and further permitting form the upcoming work program.

• Planned work includes testing oxide and supergene copper recovery profiles and preparing permits for detailed infill drilling.