Carnaby Resources (CNB) AGM 2024 Presentation summary

Corporate overview and structure

• Focused on copper, gold, and lithium exploration with key assets in Queensland and Western Australia.

• 171.9M shares on issue, $64M market cap, and $7.0M cash as of September 2024.

• Board and management hold significant ownership; major shareholders include Euroz Hartleys.

• Broker coverage from Macquarie, Petra Capital, and Moelis Australia.

Project portfolio and exploration highlights

• Greater Duchess Project (1,946 km²) is the flagship, located near Mount Isa with access to tier 1 infrastructure.

• Three major discoveries in the last 2.5 years: Nil Desperandum, Lady Fanny, and Mount Hope.

• Maiden mineral resource: 21.8Mt @ 1.3% Cu, 0.2g/t Au (315,000t CuEq) at Greater Duchess.

• Over 315,000t CuEq discovered at Greater Duchess in the last 2.5 years.

• Additional projects include Pilbara gold-lithium (397 km²) and Malmac copper-lithium (739 km²) in greenfields regions.

Key discoveries and drilling results

• Mount Hope: 10.3Mt @ 1.5% Cu, 0.2g/t Au; ongoing RC drilling at new open pit targets.

• Mohawk Discovery: 21m @ 2.0% Cu, 0.6g/t Au; multiple undrilled VTEM conductors over 500m strike.

• Pronuba Prospect: Strongest VTEM conductor, rock chips up to 35.4% Cu, first pass RC drilling underway.

• Nil Desperandum: 4.3Mt @ 1.3% Cu, 0.2g/t Au, including high-grade breccia zone; San Quentin prospect with up to 6.7% Cu in rock chips.

• Magna Lynn Southern Corridor: 75km strike, new targets with rock chips up to 18.3% Cu.