Waratah Minerals (WTM) Investor presentation summary

Value creation and growth strategy

• Aggressive exploration is driving rapid resource growth and low discovery costs, with a clear value creation strategy focused on unlocking a multi-million-ounce gold district.

• The project is evolving from early exploration into a district-scale gold system with significant upside potential.

• Only 11% of a 50 sq km trend has been tested, with ongoing drilling expected to double resource potential.

• Rare tenure at Cargo Mining Common could facilitate rapid permitting and development.

• Tight capital structure and multiple growth catalysts enhance investor appeal.

Project overview and geological significance

• The Spur Gold-Copper Project covers ~100 sq km in the Macquarie Arc, a world-class gold-copper belt in NSW, Australia.

• The district features a 6 km mineralised corridor with multiple linked discoveries, including Spur, Consols, Ironclad, Alpine, and Gazzards.

• Drilling demonstrates continuity, grade architecture, and tonnage potential for a multi-million-ounce system.

• The system hosts both epithermal gold and porphyry Au-Cu mineralisation, offering dual value engines.

• The area benefits from developed infrastructure, skilled workforce, and a mining-friendly jurisdiction.

Exploration results and resource growth

• Over 80,000m drilled in less than a year, with 10 rigs active and an 80,000m program underway in 2026.

• Multiple high-grade intercepts, including 208.7m @ 1.17g/t Au, 46m @ 7.27g/t Au, and 117m @ 2.01g/t Au.

• Consols Gold Zone has grown to >300m east-west, >400m north-south, and >600m vertically, with potential for further significant discoveries.

• Spur Gold Zone covers 1km x 250m, with diamond drilling defining numerous high-grade shoots and the system remaining open in multiple directions.

• Drilling confirms a district-scale system with 6km of strike and strong shallow results at northern targets.