Golden Horse Minerals (GHM) Investor presentation summary

Investment thesis

• Dominant tenement position within the +19Moz Southern Cross Greenstone Belt, with projects on granted mining leases and access to key infrastructure.

• Strategy centers on advancing high-grade gold projects in Western Australia, building Hopes Hill toward an inaugural MRE and maintaining consistent exploration news flow.

Funding and exploration program

• A$23M cash at 30 September 2026 supports a fully funded 2026 exploration program.

• More than 50km drilled in H1 and more than 50km planned for H2 across RC, diamond and aircore programs; 2026 drilling targets 3x 2025 metres.

• 255M shares and CDIs on issue, A$112M market capitalisation and 21M off-market instruments; A$0.44 share price at 9 November 2026.

Hopes Hill gold project

• Historic underground and open-pit mining produced more than 216koz at 2.5 g/t Au; more than 100km has been drilled to date, with an inaugural MRE targeted.

• High-grade intercepts include 4m at 73.3 g/t Au at Hopes Hill North, 7m at 13.0 g/t Au at South and 16m at 6.8 g/t Au at Main.

• Mineralisation extends beyond 3km of strike and diamond drilling has intersected wide, high-grade mineralisation more than 350m below surface; mineralisation remains open.

• 2025 BLEG testwork returned more than 95% recoveries, and 2026 microscopy confirmed free-milling gold.