Meeka Metals (MEK) Investor Presentation summary

Strategic overview and project highlights

• 10-year production plan targets up to 76koz gold per annum, averaging 65koz for the first 7 years, with first gold expected mid-2025.

• Murchison Gold Project holds 1.2Moz @ 3.0g/t Au Mineral Resource and 400koz @ 3.1g/t Au Ore Reserve, with 100% ownership.

• Project is fully funded with $55M cash, zero debt, and no hedging, maximizing exposure to gold price upside.

• Open pit mining commences March 2025, mill commissioning in June 2025, leveraging established infrastructure.

• Expansion and refurbishment of processing plant and site infrastructure are progressing on schedule.

Financial performance and outlook

• Undiscounted pre-tax free cash flow projected at $1B, with NPV8% of $616M and IRR of 180% at $4,100/oz gold price.

• Every $100/oz increase in gold price adds ~$52M to pre-tax free cash flow.

• Base case ($3,500/oz) yields $701M pre-tax free cash flow, $418M NPV8%, and 122% IRR.

• Average annual gold sales of 65koz over first 6 years at ~$2,000/oz AISC, delivering a 107% AISC margin.

• Peak gold production of 76koz in year 5, with total gold sales of 544koz over the plan.

Operations and development

• Initial plan includes new open pits at Turnberry and St Anne's, restart of Andy Well underground, and new Turnberry underground mine.

• Stage 1 open pit mining starts March 2025, with significant expansion potential from future pit cutbacks and further drilling.

• Andy Well underground offers rapid, low-capital restart with 505koz @ 8.6g/t Au resource; mining to commence H1 2025.

• Drilling campaigns at Turnberry and Andy Well aim to drive further underground resource growth in 2025.

• All mining leases and operating permits are in place, with haul roads and support infrastructure under construction.