Waratah Minerals (WTM) Noosa Mining Investor Conference summary

Project highlights and strategy

• Focused on the Spur Project, acquired 18 months ago, with ongoing exploration success and a strong technical team.

• Strategic location in the Macquarie Arc near major mining investments and world-class gold systems, with significant funding and technical momentum.

• Attracted high-profile investors and institutional interest, with recent capital raises and increased drilling activity.

• Board includes experienced geologists and M&A expertise, leveraging proximity to major operations like Cadia Valley.

• Surrounded by major-funded exploration, with a focus on innovative exploration strategies and data-driven value creation.

Exploration progress and technical approach

• De-risked proof of concept with multiple high-grade gold intercepts and a focus on key magnetic high areas.

• Historical underexploration now addressed with advanced drilling, relogging of old holes, and state-of-the-art geochemistry.

• Discovery model targets mineralization off the shoulders of magnetic highs, consistent with regional patterns.

• Identified a 2 km mineralized corridor with shallow, high-grade gold and copper, showing strong growth potential.

• Standout drill results include 196m @ 0.54% CuEq, 89m @ 1.73g/t Au, and 11m @ 10.82g/t Au, confirming both epithermal and porphyry mineralization.

Resource development and future outlook

• Ramping up geometallurgical and gold deportment studies, with some drilling now at resource definition stage.

• Multiple rigs operating, targeting high-grade zones and mapping structural controls within the Spur corridor.

• Substantial gold intercepts and evidence of porphyry alteration, with analogs to major regional deposits.

• Exploration strategy validated by recent results, focusing on the most prospective geological settings.

• Busy period ahead as exploration intensifies and resource potential is further tested, with newsflow ramping up through 2025.