Tolu Minerals (TOK) AGM 2026 presentation summary

Operational highlights

• Underground ore drive mining has restarted at Tolukuma, with early face sampling showing exceptional gold grades and supporting renewed production momentum.

• A major new high-grade discovery at Fundoot and identification of two new high-priority vein systems (Fundoot Splay and Gulbadi Splay) significantly enhance near-mine growth prospects.

• The most aggressive drilling campaign in the project's history is underway, with seven rigs operating and over 75,000 metres planned.

• Drilling targets both resource growth and confidence, with multiple new discoveries and assay results pending.

• District-scale exploration upside is demonstrated by extensive soil geochemistry, revealing multiple untested gold corridors.

Exploration and resource expansion

• Fundoot Splay discovery confirmed as a high-grade mineralised structure adjacent to the established Fundoot vein, with intersections such as 4.67m at 42.76 g/t Au.

• Gulbadi Splay, identified through reinterpretation of historical data, offers over 240m of strike and 180m down-dip potential, with historical intersections up to 2.0m at 23.5 g/t Au.

• Multiple drilling fronts are active, focusing on rapid mine inventory growth and systematic testing of new discovery opportunities.

• The 75,000+ metre drilling campaign aims to expand resources and improve confidence classifications, with several vein systems remaining open.

• Numerous additional assay results are pending, supporting sustained exploration news flow.

District-scale and regional potential

• Extensive tenement holdings (c. 2,226km²) provide significant exploration upside, with multiple mineralisation styles including high-grade Au/Ag, high-sulphidation Au/Cu, and porphyry Cu/Au.

• Regional targets and surface geochemistry indicate multiple additional mineralised structures beyond current drilling areas.

• District-scale upside remains underexplored, with follow-up work planned including trenching, mapping, and drill testing.

• The Tolukuma district hosts numerous porphyry targets, enhancing long-term discovery potential.