Emmerson Resources (ERM) Corporate presentation summary

Strategic positioning and partnerships

• Holds commanding land positions in Tennant Creek (1,800km²) and Macquarie Arc, NSW (500km²), both highly prospective for gold and copper.

• Joint venture with Tennant Mining funds exploration and development, with a 6% gross production royalty on gold produced.

• Strategic copper and gold alliance with other regional explorers aims to develop a multi-user processing facility.

• JV partner has commenced construction of a central CIL processing facility, now ~55% complete, with commissioning expected in Q2 2025.

• Well-funded with ~$6 million available for exploration, plus future royalty streams.

Resource base and growth

• Total mineral resources: 2.27Mt @ 5.2g/t gold for 376,600oz; initial ore reserves: 540,000t @ 4.7g/t gold for 79,140oz.

• Over 200,000oz of gold resources added in the last 6 months, with significant new indicated resources.

• High-grade deposits include Golden Forty (935,000t @ 4.5g/t for 133,900oz) and Eldorado (444,700t @ 4.9g/t for 69,800oz).

• Additional copper-gold potential at Hermitage, with drill hits such as 119m @ 3.3% Cu & 0.87g/t Au.

• Resource base expected to grow as new discoveries and extensions are drilled and incorporated.

Financial structure and outlook

• Market capitalization of $33.3 million (as of Nov 2024), with $3.3 million cash and $30 million enterprise value.

• Institutions hold 31% of shares, with significant stakes by Transasia Private Capital (5%) and Evolution Mining (9%).

• Royalty business model provides low-risk, uncapped 6% gross production royalty on JV gold production.

• Minimum production hurdle guarantees at least 6% of 60,000oz (~$14.3m at current gold price) by May 2026.

• Additional upside from conversion of new resources to reserves and future royalty payments.