Midas Minerals (MM1) Investor presentation summary

Project overview and opportunity

• Otavi project in Namibia covers 1,776km² with less than 40% explored and significant prior expenditure, offering exceptional exploration upside and rapid resource growth potential.

• Initial resource defined within four months of acquisition, with value growth driven by drilling and feasibility studies.

• Multiple high-grade copper, silver, and gold mineralized zones identified, with historic and recent drill intercepts confirming wide, shallow, high-grade mineralization.

• Board and management have a strong discovery and production track record in Africa and copper projects globally, holding a significant equity stake.

Resource highlights and drilling results

• T-13 deposit hosts an initial inferred resource of 10.5Mt at 1.6% Cu and 21g/t Ag (2.0% CuEq), with 169kt Cu and 7.1Moz Ag, 80% of value in copper.

• High-grade core includes 4.9Mt at 3.2% CuEq for 153kt CuEq, with ~70% of metal within 300m from surface, indicating strong economic potential.

• Recent drilling at T-13 returned 50m at 7.9% CuEq (including 16.3m at 19.81% CuEq) and 43.2m at 2.90% CuEq, supporting a potential resource upgrade by Q1 2027.

• Multiple additional targets (Spaatzu, Deblin, Segen, Hartbeespoort) show high-grade intercepts and are being actively drilled with five rigs on site.

Regional context and infrastructure

• Otavi is located in a world-class mining region near major historic mines (Tsumeb, Kombat, Otjikoto), with proven grade and scale.

• Namibia is ranked 4th in Africa for investment attractiveness, with a stable democracy, supportive mining policies, and competitive tax and royalty rates.

• Project benefits from excellent infrastructure: national highways, rail, power transmission, skilled workforce, and proximity to smelters and ports.

• Construction and operating costs are expected to be materially lower than comparable operations in Australia, with low transport, fuel, and power costs.