Red Metal (RDM) Noosa Mining Investor Conference summary

2025 field season plans and financial position

• Preparing for a major 2025 field season with multiple dual programs set to begin soon.

• Market capitalization is $43 million with $4.9 million in cash as of June 2025, sufficient to fund upcoming programs.

• Approximately 359,658,006 shares are on offer at a $0.12 price as of July 2025.

• Directors and management hold 83.5% of shares, with Freeport Minerals at 13%.

Key upcoming catalysts and exploration programs

• Five major events this field season could each trigger a significant stock re-rating.

• Initiating a column leach test on the Sibella rare earths project near Mount Isa, with results expected in Q4 2025.

• Launching several gold-copper drilling programs in Western Australia and Queensland, including projects along strike from Hemi and Ernest Henry.

• Maronan Metals, 44% owned, will soon release an advanced mining study on its Maronan project, advancing toward a "mine ready" status.

• Pulkarrimarra, Gulf, and Maronan projects advancing with drilling, geophysical surveys, and resource reviews planned for Q3–Q4 2025.

Rare earths project (Sibella/Sybella) highlights

• Sybella project confirmed as a large-scale granite-hosted REO deposit near Mt Isa, with 4.8 billion tons at 302 ppm NdPr and 28 ppm DyTb, including 780 million tons of weathered granite.

• Weathered material is easy to process, enabling a low CapEx, low OPEX heap leach operation.

• Early bottle roll tests show 70%-80% recovery of rare earths and 40%-60% of high-value heavy rare earths using weak acid, with reduced impurities at optimal pH 1.7-2.5.

• Low iron and aluminum impurities and low acid consumption reduce processing costs.

• Metallurgy program focuses on pH optimization to maximize extraction and minimize costs.