New Murchison Gold (NMG) Investor presentation summary

Investment highlights and financial position

• Produced 58,183 oz of gold in the first 10 months of operation, generating strong cash flow and maintaining a debt-free balance sheet with $201.7m cash at June 2026.

• Resource base increased by 47% over the last 12 months to 359,000 oz, with 71% in Measured & Indicated categories.

• All-in sustaining cost (AISC) averaged A$2,975/oz over the last three quarters, supporting robust margins.

• Market capitalisation stands at $434.6m, with an enterprise value of $232.9m and no debt.

Project portfolio and growth strategy

• Garden Gully Gold Project covers 619 km², anchored by the operating Crown Prince mine and multiple deposits leveraging existing infrastructure.

• Cloudkicker is the next production source, with mining underway and first ore expected in September 2026, targeting ~20koz additional production over 12–18 months.

• Ongoing drilling at Lydia and Abbotts, with regional exploration targeting further resource growth.

• Crown Prince underground studies and development are advancing, supported by high-grade drill results.

Operational performance and resource estimates

• Crown Prince delivered 15,455 oz gold sold in the June quarter at an average grade of 3.4 g/t Au and realised gold price of A$6,349/oz.

• Updated Mineral Resource Estimate (June 2026): 4.42 Mt at 2.5 g/t Au for 359,000 oz contained gold, a 47% increase over the prior year.

• Crown Prince Ore Reserve (Sept 2025): 920,000 t at 4.6 g/t Au for 135,600 oz.

• Cloudkicker MRE: 499,000 t at 1.9 g/t Au for 31,300 oz; Lydia: 961,000 t at 1.8 g/t Au for 55,100 oz; Abbotts: 789,000 t at 1.8 g/t Au for 44,500 oz.