Larvotto Resources (LRV) Investor presentation summary

Portfolio and strategy

• Three Australian project areas span Hillgrove in NSW, Mt Isa in Queensland and Eyre in WA, targeting antimony, gold, tungsten, copper, lithium, rare earths, nickel and other minerals.

• Hillgrove is presented as Australia's largest antimony producer and the largest antimony supply source outside China; Australia's $1.2 billion Critical Mineral Reserve Strategy prioritises antimony as one of three critical minerals.

• Hillgrove's production target is ~7% of global antimony demand; annual targets are 4,900 t antimony, 40,500 oz gold and potentially 600 t tungsten.

Hillgrove production

• Commissioning began July 2026, production commenced August, first concentrate was produced in September and first antimony concentrate delivery was scheduled for October 2026; ramp-up focuses on plant availability and concentrate grades.

• First gold concentrate and gold doré deliveries are targeted for Q4 2026; potential tungsten production is targeted for 2027, with metallurgical testwork underway.

• Hillgrove's JORC 2012 Ore Reserve totals 3.01 Mt at 6.6 g/t AuEq, containing 304 koz gold, 35.8 kt antimony and 636 koz AuEq.

• The JORC 2012 Mineral Resource totals 8.766 Mt at 7.2 g/t AuEq, containing 1,135 koz gold and 96 kt antimony; Measured and Indicated resources total 4.914 Mt at 8.2 g/t AuEq.

• 90% of staff are local residents; operations use mains power with minimal diesel, and local employment, procurement and community benefits are central to the regional approach.

Hillgrove growth and exploration

• Hillgrove has 255 km² of exploration tenure and 14.5 km² of granted production licences; resource growth is intended to support mine-life extension and production optionality.

• Initial Metz Exploration Target: 2.8–3.6 Mt at 7.4–9.46 g/t AuEq for 670,000–1.08 Moz AuEq; Midas target: 2.7–10.7 Mt at 2.58–8.55 g/t AuEq for 223,000–2.95 Moz AuEq. Targets are conceptual and require further exploration.

• A Mineral Resource upgrade is expected in 2027; multiple mining areas could allow production mix adjustments as antimony and gold prices change, subject to mine planning and ore availability.

• Midas has a 900 m strike exploration target; existing Syndicate underground access may provide a pathway to schedule Midas ahead of deeper mineralisation.

• More than 200 deposits and occurrences are known on Hillgrove leases, with exploration targets extending below existing workings and the current resource.