Slides
Page 1
Substantial Gold Development & Exploration Potential in the Prolific Murchison Region Investor Presentation • October 2025 ASX: ODY • ODYSSEY GOLD LTD ABN 73 116 151 636 For personal use only
Page 2
“Gold is a very excellent diversifier of the portfolio. So if you were to look at it just from the strategic asset allocation mix perspective, you would probably have as the optimal mix something like 15% of your portfolio in gold.” – RAY DALIO FOUNDER BRIDGEWATER ASSOCIATES GREEENWICH ECONOMIC FORUM – 7 OCT 2025 ••• ASX: ODY • ODYSSEYGOLD. COM. AU 02 For personal use only
Page 3
NEAR TERM DEVELOPMENT POTENTIAL AND COMPELLING EXPLORATION UPDSIDE Investment Highlights ASX: ODY • ODYSSEYGOLD. COM. AU 03 High quality gold exposure in a leading jurisdiction The Murchison is a globally recognised mining jurisdiction with proven endowment and ongoing discovery Near term production potential Established Mineral Resources, Mining Leases and 7.5Mt of gold processing capacity within 120km Strong high-growth outlook through exploration Excellent progress results and a new mineralized zone emerging at Tuckanarra Highly experienced and accomplished executive team including Directors with over 150 years collective experience in mining and Western Australian gold A substantial discount to gold price and market metrics For personal use only
Page 4
TUCKANARRA PROJECT Multiple processing options for high-grade oxide gold ASX: ODY • ODYSSEYGOLD. COM. AU 04 For personal use only
Page 5
FAST TRACK DEVELOPMENT PATHWAY WITH NO MAJOR IMPEDIMENTS - Initial high-grade resource of 407,000oz (5.14Mt @ 2.5g/t) - Mostly on granted Mining Leases around historical mined pits - Majority laterite, oxide and transitional resources with simple processing - Native Title extinguished on Mining Leases - No known heritage or enviromental issues - Mill access MOU for nearby Burnakura processing plant - Mining Study positive. Scoping Study under way Near Term Development Potential ASX: ODY • ODYSSEYGOLD. COM. AU 05 TUCKANARRA PROJECT For personal use only
Page 6
MILL ACCESS & COLLABORATION AGREEMENT FOR THE BURNAKURA MILL - Non-binding MOU with JV partner, Monument Mining Ltd (TSX.V:MMY) , to access their Burnakura Processing Plant. - Burnakura is on care and maintenance and located only about 30km east of Tuckanarra, with existing haul roads. - It is permitted for 260ktpa but Monument are studying options to upgrade to 750ktpa, to process their own and 3rd party ore. - Burnakura has historically processed similar ore to Tuckanarra and has a resource of 381koz, so would benefit from economies of scale - Discussions continuing Near Term Development Potential ASX: ODY • ODYSSEYGOLD. COM. AU 06 For personal use only
Page 7
Mining Study Confirms Development Advantages ASX: ODY • ODYSSEYGOLD. COM. AU 07 - Mining Study supports the potential development of Tuckanarra and processing at an expanded Burnakura Processing Plant - Scoping Study under way to formalise and publish outcomes (in accordance with JORC Code) - Cutbacks and expansion of existing open pits, before accessing the new Highway deposit (97,000oz @ 3.8g/t). - Preliminary cost estimate of road realignment is $5.2m. - Existing approved Mining Proposal allows path for permits to commence mining in 2026. - Mine scheduling based on existing pits and ML’s in early years while ML is expanded and road realigned to access Highway and Bottle Dump deposits. For personal use only
Page 8
Five Shallow Open Pits Mined in the 1990’s TUCKANARRA PROJECT EXPLORATION CABLE KOHINOOR MAYBELLE BOTTLE DUMP BOLLARD ASX: ODY • ODYSSEYGOLD. COM. AU 08 For personal use only
Page 9
TUCKANARRA PROJECT EXPLORATION - Odyssey focused initially on understanding the known shallow deposits and nearby extensions – eg Highway Zone. - Mineral Resources of 5.14Mt @ 2.5g/t for 407,000oz. Based on over 82,000m of drilling. Cutoff grade 0.9g/t OP & 2g/t UG. - Two styles of fresh mineralization - 1) quartz vein hosted and 2) sulfide (pyrrhotite) replacement in BIF. Often spatially related and structurally constrained. Weathered mineralisation extends up to 80m below surface. - Enhanced understanding of geological setting, structural controls and stratigraphic elements allows comparison to the many examples of Murchison deposits continuing and expanding at depth - Diamond drilling beneath all deposits has clearly demonstrated continuation of high-grade, fresh rock shoots including results of 11m @ 7.8g/t Au, 12m @ 6.5m g/t Au and 7.65m @ 11.8g/t Au Initial Focus On Drilling Known Deposits ASX: ODY • ODYSSEYGOLD. COM. AU 09 For personal use only
Page 10
- The Cable Bollard Highway mineralisation has to date been interpreted as 2 sub vertical parallel structures defined over 1.5km from North of the Cable pit through Bollard to the newly discovered Highway deposit. - The Cable East structure is sulfide (pyrrhotite) replacement in BIF’s and sediments. - The Cable West structure is a consistent massive quartz vein with high-grade shoots demonstrating a shallow southerly plunge. - The tram track structures were only lightly drilled between the main Cable and Bollard deposits, as historical drilling focussed on oxide mineralisation. - The current Mineral Resource block models and optimized pits extend south of Cable and North and west of Bollard but the model is discontinuous between the optimised pits. - Further drilling will aim to define the mineralisation between the pits. Mineral Resources in “tram track” parallel structures ASX: ODY • ODYSSEYGOLD. COM. AU 10 For personal use only
Page 11
- - - - - TUCKANARRA PROJECT VTEM, drilling indicate potential continuation Two recent deeper holes targeting the VTEM modelled conductors support potential continuation of the main Cable “tram track” mineralisation between the existing Cable and Bollard deposits. ASX: ODY • ODYSSEYGOLD. COM. AU 11 2m @ 10.3g/t from 157m TCKRCD0096 7.65m @ 11.8g/t 10m @ 2.1/t from 211m For personal use only
Page 12
- Infill drilling at Cable has also encountered a substantial “new” vein structure in the hanging wall. Encountered in 6 holes over 300m. - Falling partly within the Cable pit optimisations. - Open along strike and at depth. - Several more parallel structures mapped over 200m west and 1.5km of strike, including considerable historical workings and drill results. - Historical drilling is largely shallow and vertical – ineffective when targeting subvertical structures. - This area offers considerable potential for additional shallow resources and will be drilled again shortly. TUCKANARRA PROJECT ASX: ODY • ODYSSEYGOLD. COM. AU A New Parallel Vein Structure Emerging 12 For personal use only
Page 13
CAPITAL STRUCTURE SHARES ON ISSUE (ASX:ODY) 1,121m SHARE PRICE (AT 13-OCT-2025) A$0.038 MARKET CAPITALISATION A$42.6m CASH (AT 30-JUN-2025) A$4.2m ENTERPRISE VALUE $38.4m MINERAL RESOURCE (ODY 80% SHARE) 326koz EV/oz A$118/oz Corporate Overview Ian Middlemas – Chairman Highly regarded Chairman and resources executive with over 35 years' experience in the Australian gold mining sector. Former senior executive of Australia’s largest gold mining group, Normandy Mining and subsequently Chairman of a number of successful publicly listed companies including Mantra Resources, Papillon Resources, Sovereign Metals, GreenX Mining and GBM Resources. Matt Syme – Executive Director Chartered Accountant with 30 years’ experience as an accomplished mining executive. Considerable experience in managing mining projects in a wide range of commodities and countries. Involved in the Australian gold sector since 1995. Matt Briggs – Director and Technical Consultant 25-year career in gold exploration and development, WMC, Barrick, Group Head of Strategic Planning at Gold Fields, Managing Director of Prodigy Gold. Levi Mochkin – Director +30 years advising companies in the resources sector, identifying projects, raising $1Billion + for mining projects. Mr Mochkin was a founder and director of Piedmont Lithium Ltd. Robert Behets – Director +30 years’ experienced geologist with extensive corporate and management experience, including roles with WMC, Mantra Resources, Papillon Resources and GBM Resources. BOARD & MANAGEMENT WITH A PROVEN TRACK RECORD BOARD OF DIRECTORS ASX: ODY • ODYSSEYGOLD. COM. AU 13 For personal use only
Page 14
Additional Material Investor Presentation • October 2025 ASX: ODY • ODYSSEY GOLD LTD For personal use only
Page 15
• Excellent correlation between pyrrhotite and gold in fresh rock mineralisation. • Pyrrhotite is highly conductive • Electromagnetic (EM) survey techniques can be used to target high-grade conductive shoots under laterite cover across the project ADDITIONAL MATERIAL ASX: ODY • ODYSSEYGOLD. COM. AU Pyrrhotite Strongly Associated With Gold Drilling Sulphide % Gold in Drilling 3.6m @ 10g/t Au 1 associated with semi - massive sulphide at Bottle Dump 15 For personal use only
Page 16
- - - - - ADDITIONAL MATERIAL Highway Zone Underground Target ✓ Four holes recently completed along strike and below current resource ✓ All four holes intersected gold mineralisation where targeted ✓ EM and geological model very effective for drill targeting ✓ Widespread high grade gold ▪ 7m @ 9.5g/t Au from 271.65m ▪ 11m @ 8.4g/t Au from 133m ▪ 12m @ 6.5g/t Au from 132m ▪ 11m @ 7.8g/t Au from 199m ▪ 7m @ 10g/t Au from 89m ▪ 4m @ 7.1g/t Au from 176m ▪ 11m @ 4.3g/t Au from 133m ✓ Structure remains open at depth and along strike ASX: ODY • ODYSSEYGOLD. COM. AU 16 For personal use only
Page 17
✓ Recent diamond tail targeted interpreted extension down plunge from 11m @ 4.6g/t ✓ Previous RC hole was drilled from foot wall and did not reach target ✓ Outstanding high - grade results: ✓ 7.65m @ 11.8g/t from 354.5m, and ✓ 3.7m @ 8.3g/t from 308.5m ✓ Approximately 135m step out demonstrates continuity of high - grade shoot ✓ Will add to existing Bollard JORC resource estimate ✓ Next drilling will target down dip and along strike (after further EM survey) ADDITIONAL MATERIAL ASX: ODY • ODYSSEYGOLD. COM. AU Emerging High Grade Shoot at Bollard 17 For personal use only
Page 18
Including: • 2.25Mt @ 3.9g/t for 283koz above a 2g/t cut - off • 4.2Mt @ 2.3g/t for 311koz on granted mining leases ASX: ODY • ODYSSEYGOLD. COM. AU ADDITIONAL MATERIAL Mineral Resources (100% basis) Deposit Category Mining Method Tonnes (Mt) Gold (g/t) Ounces (kOz) Tenure Bottle Dump Indicated Pit 0.15 3.4 17 E20/783 Inferred Pit 0.76 2.2 54 Total 0.91 2.4 70 Bollard Indicated Pit 0.15 1.9 9 M20/527 Inferred Pit 0.53 2.2 37 Total 0.68 2.1 46 Cable Indicated Pit 0.40 2.3 29 M20/527 Inferred Pit 1.30 2.2 94 Total 1.69 2.3 123 Highway Inferred Pit 0.44 2.3 32 M20/527 ~50% Inferred UG 0.35 5.8 65 E20/783 ~ 50% Total 0.79 3.8 97 Kohinoor Inferred Pit 0.16 2.4 12 M51/908 Inferred UG 0.03 9.1 9 Total 0.19 3.5 22 Lucknow Inferred Pit 0.22 1.3 9 M20/527 Maybelle Indicated Pit 0.09 2.3 7 M20/527 Inferred Pit 0.57 1.8 34 Total 0.66 1.9 41 Total 5.14 2.5 407 NOTES TO TABLE The Mineral Resources are produced in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012). For further details refer to Odyssey Gold Ltd ASX announcements 2 August 2022 and 15 February 2024. Totals may not add up due to rounding. Open pit resources are reported above 0.9g/t Au cut-off for material less than 140-180m below surface, except the Highway Zone which is reported above 0.9g/t Au cut-off for oxide and transitional material. Underground resources are reported above 2.0g/t Au cut-off for material more than 180m below surface or fresh rock. Resources are reported on a 100% project basis. Full CP statements on slide 23 18 For personal use only
Page 19
Disclosures & Disclaimers IMPORTANT INFORMATION This presentation has been prepared by Odyssey Gold Ltd (“Odyssey Gold” or the “Company”). This presentation is for information purposes only and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. This presentation contains forecasts and forward-looking statements and information which are based on internal business data and information obtained from external sources. Forward looking statements may be identified by the use of words such as “anticip ate”, “expect”, “estimate”, “planned”, “forecast”, “likely”, “intend” and other similar expressions. Such forecasts and information are not a guarantee of future performance and involve unknown risks, uncertainties and contingencies which may impact future outcomes o n the Company. Actual results and developments will therefore almost certainly differ materially from those expressed or implied. O dyssey Gold has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in th is presentation. Accordingly, to the maximum extent permitted by law, Odyssey Gold makes no representation and gives no assuranc e, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this presentation. The information in this presentation is given in summary form and does not purport to be all inclusive or contain all informa tion which you may require in order to make an informed assessment of the Company’s prospects. Nothing contained in this presentation consti tutes investment advice, financial product advice or legal, tax, accounting or other advice, nor does it take into account the fina ncial situation, objectives or needs of any person. Odyssey Gold is not licensed to provide financial product advice. You should not act or refrain from acting in reliance on this presentation material. You should conduct your own investigatio n, perform your own analysis and obtain independent professional advice, in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation and in making any investment decision in respect of Odyssey Gold. COMPETENT PERSONS STATEMENT The information in this presentation that relates to Mineral Resources is extracted from the Company’s ASX announcements dated 2 August 2023 and 15 February 2024, which are available to view at www.odysseygold.com.au. The information in this presentation that relates to Exploration Results are extracted from the Company’s ASX announcements dated 4 September 2020, 22 October 2020, 27 November 2020, 14 January 2021, 3 February 2021, 9 February 2021, 22 February 2021, 19 April 2021, 4 May 2021, 19 May 2021, 26 May 2021, 3 June 2021, 2 July 2021, 21 July 2021, 28 July 2021, 14 October 2021, 2 November 2021, 15 June 2022, 25 July 2022, 4 August 2022, 24 August 2022, 1 September 2022, 21 November 2022, 28 November 2022, 8 December 2022, 15 December 2022, 9 March 2023, 28 April 2023, 28 July 2023, 2 August 2023, 15 February 2024, 30 October 2024, 20 November 2024, 9 December 2024, 18 February 2025, 5 May 2025, 25 August 2025, 1 September 2025 and 25 September 2025 which are available to view at www.odysseygold.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements; that all material assumptions and technically parameters underpinning the content in the relevant ASX announcements continues to apply and have not materially changed; and that the form and context in which the relevant Competent Person’s findings are presented have not been materially modified from the original ASX announcements. This announcement has been approved in accordance with the Company’s published continuous disclosure policy and authorised for release by the Executive Director. IMPORTANT INFORMATION ASX: ODY • ODYSSEYGOLD. COM. AU 19 For personal use only
Page 20
www.odysseygold.com.au Level 9, 28 The Esplanade, Perth WA 6000 T: +61 8 9322 6322 E: info@odysseygold.com.au For further information, please contact: Matt Syme, Executive Director T: +61 8 9322 6322 ASX: ODY • ODYSSEY GOLD LTD For personal use only