Ballard Mining (BM1) RIU Investor Roadshow presentation summary

Project overview and resource base

• Mt Ida Project in Western Australia hosts a total gold resource of 10.3Mt at 3.33g/t Au for 1.1 million ounces, with the flagship Baldock deposit containing 930koz at 4.1g/t Au.

• The project is surrounded by major gold operations and infrastructure, enhancing development potential.

• The mineral resource estimate is current as of April 2025 and underpinned by recent drilling and geological interpretation.

Growth and development strategy

• Parallel workstreams target a 10-year mine plan, with the first 5-6 years underpinned by reserves and additional resources targeted for years 6-10.

• 80,000m infill drilling program at Baldock is underway to increase resource confidence and support a maiden reserve by mid-2026.

• 50,000m exploration drill program is ongoing across 26km of underexplored shear zones, with a new discovery at Neptune.

• Fully permitted for open pit and underground mining at Baldock, with process plant and tailings storage facility approvals progressing.

Exploration potential

• Extensive regional exploration targets include 18 prospects along the Baldock Thrust and Ballard Fault, with minimal historical drilling in many areas.

• Recent drilling at Neptune on the Ballard Fault returned 23m at 1.8g/t Au, supporting further exploration.

• High-grade historic rock chips and limited drilling indicate significant upside potential along both major structures.