Ballard Mining (BM1) Investor presentation summary

Corporate overview and structure

• Completed IPO and demerger from Delta Lithium in July 2025, raising $40M in pro-forma cash after a $20.6M placement.

• Market capitalization stands at $185M with 378 million shares on issue and $0.49 share price as of October 2025.

• Major shareholders include Delta Lithium (41.3%), Aurenne Group (9.6%), Hancock Prospecting (5.6%), and Mineral Resources (5.1%).

• Board and management have significant experience in gold and lithium sectors.

Project status and permitting

• Mt Ida Gold Project is fully permitted for both open-cut and underground mining at the Baldock Deposit.

• Permits include a 2Mtpa processing plant, tailings storage, and a 2.5 GL/year water license (pending).

• Mining leases are granted with no current Native Title claims.

Mineral resources and exploration targets

• Current Mineral Resource Estimate (MRE) is 10.3Mt @ 3.3g/t Au for 1.1Moz, with Baldock Deposit at 930Koz @ 4.1g/t Au.

• October 2025 Exploration Target is 11.8–14.6Mt grading 2.6–3.9g/t Au, separate from the existing MRE.

• Exploration targets are conceptual and based on geological data, deeper drilling, and assay results.