Slides
Page 1
MGX MGX Resources Limited Central Tanami Project Joint Venture Aerial view of the Central Tanami Gold Project, Northern Territory MGX Mining the Territory Conference 2-3 September 2026 Darwin Convention Centre
Page 2
2 Disclaimer and Forward-Looking Statements This Document may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose without prior written approval from MGX Resources Limited (ASX:MGX). This Document is not a Prospectus nor an Offer to Subscribe for Shares. MGX Resources Limited and its subsidiaries (“MGX”) make no representations or warranties (express or implied) as to the accuracy, reliability or completeness of this document. MGX and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (expressed or implied) arising out of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded. This document contains reference to certain forecasts, projections, intentions, expectations and plans of MGX, which may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of MGX may be influenced by a number of factors, uncertainties and contingencies, many of which are outside the control of MGX and its directors. No representation or warranty (expressed or implied) is made by MGX or any of its respective directors, officers, employees, advisers or agents that any forecasts, projections, intentions, expectations or plans set out in this document will be achieved, either totally or partially, or that any particular rate of return will be achieved. Investments in shares in MGX are considered highly speculative. All currency is expressed in Australian dollars (A$) unless stated otherwise.
Page 3
Established mid-tier mining company seeking to become a new Australian gold producer within 3 years Recently acquired a 50% interest in the Central Tanami Project JV, an initial step in building a new gold production business Substantial cash and investment reserves of over $400 million and no bank borrowings Rehabilitation nearly complete at the Koolan Island iron ore operation in the Kimberley, with the announced sale transaction expected to close in late 2026 or early 2027 ⚫Perth Koolan Island ⚫ MGX Resources - Business Overview A new presence in Australian Gold 3 ⚫ Central Tanami Project JV Central Tanami Gold Project
Page 4
Central Tanami Project JV (CTPJV) One of Australia’s higher grade gold development projects 4
Page 5
50/50 joint venture between MGX and Tanami Gold NL (ASX:TAM). Mineral Resources (JORC 2012) of 31 Mt at 2.8 g/t Au for 2.8 Moz* of gold, including 11 Mt at 3.3 g/t Au for 1.2 Moz in the high grade Groundrush deposit. Most resources are located on granted mining leases. Significant exploration and development upside, with +50 known gold deposits and historical production of 2 Moz. Initial development focus is on the Groundrush and Jims free-milling deposits (+1.4 Moz Au). Replacement and refurbishment options for the old processing plant are being assessed, targeting an increased throughput of 1.5 Mtpa. Existing site infrastructure includes mine haul roads, water borefield, accommodation camp and a 1.4km gravel airstrip. *Refer MGX’s ASX release dated 11 November 2025 and Appendix 2. Central Tanami Project JV (CTPJV) Gold development project CTPJV and MGX wholly-owned tenements Tanami Road WA│NT border 5
Page 6
6 Central Tanami Project JV (CTPJV) Prospective mine corridor from Groundrush to Jims
Page 7
Groundrush Gold Deposit Substantial proposed underground gold mine 7 • Located on a granted mining tenure, 41km north of the existing CTPJV plant site via a sealed haul road. • Previous open pit gold production (Newmont) of +0.6 Moz at an average grade of 4 g/t Au in 2001-2005. • Mineralisation is primarily hosted in quartz-sulphide veins within a fractionated dolerite unit. • Free-milling metallurgy with further testwork underway to confirm +90% carbon-in-leach (CIL) processing recoveries. • Macmahon Underground has been appointed mining contractor for the Groundrush exploration decline, with works estimated at $38 million and starting in September 2026. Groundrush open pit (northern pit), May 2026. Re-establishment of the Groundrush pit ramp, August 2026
Page 8
• Mineral Resource estimate of 11 Mt at 3.3 g/t Au for 1.2 Moz of gold (45% Indicated, 55% Inferred)* . • The deposit is open down plunge to the southeast, and at depth. *Refer ASX Announcement: 11 November 2025 - Central Tanami Project Mineral Resource Update and Appendix 2. Groundrush Gold Deposit Existing Resource Estimate 8 NW SE Groundrush long section looking northeast, showing the existing pit (brown) and stope optimisation shapes (green) over the modelled Mineral Resource wireframes
Page 9
Groundrush Gold Deposit Underground exploration decline works to commence • The underground decline comprises 3.5km of lateral development to approx 350m below surface and will take approx 14 months to complete. • Infill drilling (approx 33,000 metres) from underground platforms will commence around this time and target the conversion of over 400,000oz Au of Inferred Resources to Indicated status. • Macmahon Underground will commence works this month (September 2026). NW SE 100m0 7820000N 7819500N 7820500N Existing open pit (1.4km long) Proposed underground mine design Proposed underground mine design 9 Portal locations Proposed underground mine design
Page 10
• Located on a granted mining lease, 23km south of the existing CTPJV plant site. • Mineral Resource estimate of 2.6Mt at 2.7 g/t gold for 220kozs*. • Resource remains open down plunge to the north and along strike over 870m footprint. *Refer ASX Announcement: 11 November 2025 - Central Tanami Project Mineral Resource Update and Appendix 2. Jims Gold Deposit Potential to build existing Resources 10 • Metallurgically free-milling with further testwork underway to confirm +90% carbon-in-leach recoveries. • Resource definition drilling recommenced in June 2026. • Program comprises two phases totalling circa 24,500m RC and 3,400m diamond core drilling. Jims Gold Deposit long-section, looking west. RC drilling at Jims Gold Deposit, June 2026
Page 11
11 • Groundrush decline construction and commencement of underground infill drilling to convert Inferred to Indicated Resources. • On-surface resource definition drilling at the Jims deposit. • Updates to Mineral Resource Estimates. • Metallurgical testwork to progress front end engineering and design (FEED) activities. • Repairs and improvements to the old accommodation camp and utilities infrastructure to support increasing on-site activities. • Traditional Owner engagement and approvals. • Environmental and regulatory permitting activities. Central Tanami Project JV Key activities for the next 12 months (FY27)
Page 12
Main Pit Sealed all-weather 2.1km airstrip Seawall The Koolan Island operation is located in the Yampi Sound of the Buccaneer Archipelago off the Kimberley coast of Western Australia, approximately 140 kilometres north of Derby. 12 Iron Ore Operations – Koolan Island Rehabilitation and divestment of the operation
Page 13
A clean exit from iron ore Facilitating a focus on creating a new precious metals business 13 • MGX developed and operated 4 mines in WA, shipping +90 Mwmt of iron ore over the last 20 years, including +43 Mwmt from Koolan Island since 2007. • Rehabilitation earthworks at Koolan Island (other than for key infrastructure which will remain) is nearing completion. • Agreement signed to divest Koolan Island to logistics group Crestlink to repurpose key infrastructure for a future multi-use logistics hub (refer ASX release dated 11 June 2026). • Transaction is fully supported by the Dambimangari Traditional Owners. • Settlement targeted for late 2026 with potential for extension if required. • The transaction provides a clean exit from iron ore and allows MGX to focus on its interest in the CTPJV.
Page 14
Established mid-tier miner with long-term operating experience at remote sites, aiming to become a new Australian gold producer within 3 years. Self-funded with a robust balance sheet and no bank borrowings. Pursuing development of the Central Tanami Project Joint Venture (MGX 50%), an exciting higher grade gold development project in an established producing region. Capacity to invest in complementary gold and base metals opportunities. 14 MGX Resources Limited Summary
Page 15
MGX Resourcess Limited (ASX: MGX) Presentation authorised by Peter Kerr, Chief Executive Officer MGX Resources Limited +61 (0)8 9426 7500 www.mgx.com.au MGX 15
Page 16
Shareholder Distribution (% issued shares) Board and Management Issued shares 1,180 million shares Market capitalisation A$437 million ($0.37/share) Cash/investments A$412 million at 30 June 2026 (after payment of $50 million to complete the 50% CTPJV acquisition in February 2026) Bank Borrowings Nil • Brett Smith – Non-Executive Chairman • Simon Bird – Lead Independent Non-Executive Director • Paul Dougas – Independent Non-Executive Director • Alan Jones – Independent Non-Executive Director • Evian Delfabbro - Independent Non-Executive Director • Peter Kerr - CEO • Gillian Dobson - CFO • David Stokes - Co. Sec. & General Counsel • David Rayfield – GM Koolan Island Operations 16 ASX:MGX last 12 months 38.4% 17.1% 13.9% 13.3% 2.6% 0.5% 1.3% 12.5% 0.4% APAC Resources Australian/NZ Institutions Shougang Fushan Australian/NZ Retail North America UK & Europe Directors & Management Other Asia/Middle East Appendix 1 Corporate Overview
Page 17
17 Appendix 2 CTPJV Mineral Resource Estimate (JORC 2012) - 100% basis (MGX 50%, TAM 50%) Notes Mineral Resource estimates are not precise calculations as they rely on the interpretation of limited information regarding the location, shape and continuity of mineralisation, as well as the available sampling data. The quantities presented in the adjacent table have been rounded to two significant figures to reflect the relative uncertainty of the estimates. Consequently, rounding may result in minor discrepancies in the totals. All Mineral Resources are reported on a dry in-situ basis and in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The open pit estimates are reported at cut-off grades ranging from 0.6 g/t gold to 0.8 g/t gold and are constrained within optimised pit shells based on a A$3,500 per ounce gold price. Underground Mineral Resources are reported at cut-off grades ranging from 1.4 g/t gold to 1.8 g/t gold, incorporating all material contained within stope optimisation wireframes (inclusive of planned mining stope optimiser mining dilution) and using the same gold price assumption of A$3,500 per ounce. Notes: (1) These deposits have been identified as potentially refractory and therefore the applied cut-off grades incorporate additional costs and adjusted recovery factors to reflect the production and sale of a gold concentrate; and (2) Pendragon is located on Exploration Licence EL26925 which surrounds Mineral Lease ML(S)180. Competent Persons Information The CTPJV’s estimates of Mineral Resources were reported in the MGX’s announcement dated 11 November 2025 titled “Central Tanami Gold Project Mineral Resource Update”. MGX confirms it is not aware of any new information or data that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. OP & UG Deposits COG Measured Indicated Inferred Total Tonnes (000's) Grade (g/t) Ounce s (000's) Tonnes (000's) Grade (g/t) Ounces (000's) Tonnes (000's) Grade (g/t) Ounce s (000's) Tonnes (000's) Grade (g/t) Ounces (000's) ML33760 Southern¹, Bouncer¹, Bumper¹, Gatling¹, Miracle¹, Tombola¹, Assault¹, Bastille¹, Battey¹, South Temby¹, Dinky¹,Dice¹, Thrasher¹, Airstrip¹, Hurricane¹ & Repulse Open Pit 0.5-0.7 11 1.5 1 1,700 2.5 140 1,900 2.8 170 3,700 2.6 310 Underground 1.7-1.8 - - - 370 2.2 27 1,300 2.8 120 1,700 2.7 150 Stockpiles 0.6 - - - 13 1.1 0 - - - 13 1.1 0 Sub-Total 11 1.5 1 2,100 2.5 170 3,300 2.8 290 5,400 2.7 460 EL26926 Thrasher¹ & Gallifrey Open Pit 0.6-0.7 - - - 4 1.6 0 99 1.5 5 100 1.5 5 Underground 1.5 - - - 2 2.0 0 110 2.2 8 110 2.2 8 Sub-Total - - - 6 1.7 0 210 1.8 12 210 1.8 13 ML(S)167 Carbine¹, Phoenix¹, Inca¹, Daddy¹, Funnelweb¹, Harleys¹, Huntsman¹, Huntswoman¹, Katipo¹, Money¹, Redback Rise¹, Redback SE¹, Redback SW¹, Bulldog¹, Dogbolter¹, Dogbolter NE¹, Kelpie¹, Lynx¹ & Legs¹ Open Pit 0.6-0.7 9 2.4 1 2,400 3.3 260 290 2.9 27 2,700 3.3 280 Underground 1.7-1.7 0 3.3 0 1,200 2.8 110 2,200 3.1 220 3,400 3.0 330 Stockpiles 0.6 470 0.6 9 210 0.7 4 - - - 680 0.6 14 Sub-Total 480 0.7 10 3,800 3.0 370 2,400 3.1 240 6,800 2.9 630 ML(S)168 Camel Bore & Jims Open Pit 0.6-0.7 150 2.0 9 560 2.4 43 55 1.6 3 760 2.2 55 Underground 1.4-1.6 - - - 140 2.2 10 1,800 3.0 170 1,900 2.9 180 Stockpiles 0.6 550 0.7 13 26 0.9 1 - - - 580 0.7 14 Sub-Total 700 1.0 22 730 2.3 54 1,800 2.9 170 3,200 2.4 250 ML(S)180 & EL26925 Beaver, Banjo, Bonsai, Orion, Pendragon2 & Cheeseman Open Pit 0.6 - - - 370 3.0 35 130 3.2 14 500 3.1 49 Underground 1.5 - - - 280 2.7 24 390 2.5 31 670 2.6 55 Stockpiles 0.6 160 0.6 3 - - - - - - 160 0.6 3 Sub-Total 160 0.6 3 640 2.9 59 520 5.7 45 1,300 2.5 110 EL28282 Crusade¹ Open Pit 0.7-0.8 - - - 1,500 2.2 100 79 1.5 4 1,500 2.1 100 Underground 1.8 - - - 83 2.6 7 1 1.8 0 84 2.6 7 Sub-Total - - - 1,500 2.2 110 80 1.5 4 1,600 2.2 110 ML22934 Groundrush & Ripcord Open Pit 0.6 - - - 1,000 2.0 65 150 1.5 8 1,200 1.9 73 Underground 1.5-1.6 - - - 5,500 3.1 550 5,900 3.5 660 11,000 3.3 1,200 Sub-Total - - - 6,500 2.9 610 6,100 3.4 670 13,000 3.2 1,300 Total OP 170 2.0 10 7,500 2.6 640 2,700 2.6 230 10,000 2.6 880 Total UG 0 3.1 0 7,600 3.0 730 12,000 3.2 1,200 19,000 3.1 1,900 Total Stocks 1,200 0.7 25 250 0.7 6 - - - 1,400 0.7 31 Total 1,300 0.8 36 15,000 2.8 1,400 14,000 3.1 1,400 31,000 2.8 2,800