Slides
Page 1
Odyssey Sets Sail Strong Near Term Cashflow & Brownfields Exploration Potential Company Presentation • July 2026 ASX: ODY • ODYSSEY GOLD LTD ABN 73 116 151 636
Page 2
HIGH MARGIN, LOW CAPEX, NEAR TERM CASHFLOW WITH COMPELLING EXPLORATION UPDSIDE Investment Highlights ASX: ODY • ODYSSEYGOLD. COM. AU 02 High-quality gold exposure in a leading jurisdiction The Murchison is a globally recognized mining jurisdiction with proven endowment and ongoing discovery Near term production and cashflow potential Stage 1 Scoping Study - $180m pretax cash from 79,000oz $7m capex High-growth outlook through exploration Multi year production potential from larger resource of 451,000oz and obvious pathways to add mine life Highly experienced and accomplished executive team including Directors with over 150 years collective experience in mining and Western Australian gold A substantial discount to market metrics
Page 3
WHY TOLL TREATMENT? Tuckanarra and Toll Treating are a (near) Perfect Match ASX: ODY • ODYSSEYGOLD. COM. AU 03 • Speed to production • Minimal capex • Outstanding returns at current A$ gold • Low risk starter pit • Flexibility for future years • Funds ongoing exploration • Potentially funds on-site plant WHY TUCKANARRA? • Simple geology • Low risk open pit mining • Excellent metallurgy • Permitting allows early development • Great location • Serious near term cashflow potential • Lots of obvious exploration upside STUDY OUTCOMES * Stage 1 production of 1.35Mt @ 1.9g/t over 29 months, 79,000oz recovered and $A180m of pretax cash margin from A$7m of pre- production capex (at A$6,000 gold price). * See Scoping Study ASX release dated 9 July 2026
Page 4
TUCKANARRA PROJECT - Surrounded by over 10Mt of processing capacity Great Location in a Famous Gold District ASX: ODY • ODYSSEYGOLD. COM. AU 04
Page 5
Shallow shafts in the gold rush, followed by five shallow open pits mined in the 1990’s TUCKANARRA PROJECT HISTORY CABLE KOHINOOR MAYBELLE BOTTLE DUMP BOLLARD ASX: ODY • ODYSSEYGOLD. COM. AU 05 SHACKLE WORKINGS
Page 6
Shallow historical drilling just scratched the surface 06 Odyssey drilled out an initial resource of 451,000oz @ 2.2g/t, to the top of fresh rock around the old pits.
Page 7
LOW CAPEX, HIGH MARGIN, FAST TRACK DEVELOPMENT Excellent Outcomes from Stage 1 Scoping Study ASX: ODY • ODYSSEYGOLD. COM. AU 07 Production Mine life 29 months LOM gold mined 87,000oz LOM gold recovered 79,000oz Metallurgical recovery 95% Physicals LOM waste mined 16.1Mt LOM mill feed mined 1.35Mt LOM strip ratio 11.9x Mill feed grade 1.9g/t Au Financial Pre-production capital costs A$7m LOM operating costs (pre-tax) A$3,400/oz LOM cashflows (pre-tax) A$180m Weathering Tonnes Percentage Oxide 1,000,000 74% Transitional 272,000 20% Fresh 75,000 6% Total 1,348,000 100% CAPEX A$ Grade control drilling $2m Mining camp $2m Other mine establishment and mobilisation $2m Contingency $1m Total $7m Refer to ASX release dated 9 July 2027 for further details (assumed A$6,000 gold price).
Page 8
FAST TRACK DEVELOPMENT POSSIBLE Stage 1 Development Plan ASX: ODY • ODYSSEYGOLD. COM. AU 08 • Cable deposit all within M20/527 • Waste dumps etc all on ML’s • Initial mining under existing approved Mining Proposal • Extinguished Native Title • No known heritage or environmental impediments • NVCP application lodged April. No objections raised • Highway access work underway
Page 9
Simple, Shallow Open Pit Mining Stage 1 Pit Design ASX: ODY • ODYSSEYGOLD. COM. AU 09 Weathering Tonnes Percentage Oxide 1,000,000 74% Transitional 272,000 20% Fresh 75,000 6% Total 1,348,000 100%
Page 10
Low risk with 83% of production target Indicated. Stage 1 Pit Design ASX: ODY • ODYSSEYGOLD. COM. AU 10
Page 11
FAST EST PATHWAY TO DEVELOPMENT AND CASHFLOW Stage1 Toll Processing at Kirkalocka ASX: ODY • ODYSSEYGOLD. COM. AU 11 1 • Kirkalocka is adjacent to the Great Northern Highway, 191km south of Tuckanarra. Last operated in 2022. • Gylden Resources plans to refurbish the carbon-in-leach (“CIL”) plant to handle a range of fresh and oxidised ores from Kirkalocka as well as regional projects. • The Toll Milling Agreement (TMA) is binding, but conditional upon a number of CP’s, including the commencement of operations at Kirkalocka and Odyssey making a decision to mine by 30 September 2026. • A minimum of 600,000t processed in 4 quarterly campaigns commencing Q1 2027, with additional 150,000t if capacity allows. • Provision to extend to 2028 calendar year. • Competitive fixed toll milling fee. • Excellent haulage route, all on Great Northern Highway. • Provides Odyssey with potential accelerated revenue and cash flow together with the fastest and lowest capex pathway, whilst maintaining 100% flexibility for future years.
Page 12
ASX: ODY • ODYSSEYGOLD. COM. AU 12 Stage 2 Scoping Study will address full 451,000oz resource base The Stage 2 Scoping Study already underway will address longer term potential from the other Tuckanarra resources, based on on-site treatment costs. • Stage 1 mines only 55% of the Cable resource, based on toll treatment processing costs. A further 71,000oz of resource is available at Cable at potentially open pit depths and on-site treatment costs will lower cutoffs and increase the production target. • The total resource at Tuckanarra is 6.3Mt for 451,000oz - 55% of this resource equates to 248,000oz and potential tons would also increase with a lower processing cost. • M20/527 includes other deposits totalling 103,000oz, which the Study will consider mining alongside Cable. • Highway has 97,000oz @ 3.8g/t where the Stage 2 Study will consider open pit and underground mining. • Bottle Dump has 70,000oz @ 2.4g/t and Kohinoor has 22,000oz @ 3.5g/t where the Study will schedule open pit and underground options in later years. • Most of these resources will also be updated prior to the Stage 2 Study, with over 18,000m of drilling since the last resource estimates.
Page 13
ASX: ODY • ODYSSEYGOLD. COM. AU Exploration Upside and Strategy 13 - The Tuckanarra goldfield has been mined since the 1890’s. - The geology comprises a sequence of greenstones, intruded by granite. Deformation has formed in an anticline hinge, typically a very fertile environment for structural deformation, fluid flow and gold enrichment - Drilling and mining in the 1980’s and 1990’s focussed on shallow oxide mineralisation around the historical workings - Each of the main deposits is the weathered expression of primary shoots open at depth. - Odyssey has extended the known deposits and resources along strike and down dip to the fresh (primary) mineralisation - There are many historical workings and shallow drill results with very little modern exploration. - Future resource growth will come from Odyssey’s priority list of over 70 untested shallow oxide and deeper primary targets.
Page 14
ASX: ODY • ODYSSEYGOLD. COM. AU Consistent, high-grade oxide & primary gold - The Cable-Bollard-Highway mineralised zone is defined over 2.3km from north of the Cable pit through Bollard to the Highway deposit. - Considerable shallow oxide mineralisation remains unmined around and between the pits - Fresh primary mineralisation, including several emerging high grade shoots, has been encountered along the entire zone. These will be the focus of deeper drilling, guided by geophysics, to extend those shoots to depth. - The ongoing excellent results at Bollard highlight the underground potential emerging from the high grade shoots - Future exploration will also focus on a stack of parallel structures extending over 250m west of Cable, where historical workings and very limited previous drilling highlight widespread shallow gold mineralisation. - The Highway Deposit, Cable West Hanging Wall shoot and now the Shackle deposit are examples of the untested potential for shallow resources in this area. 14
Page 15
ASX: ODY • ODYSSEYGOLD. COM. AU Shackle example 15 The Shackle target was a series of shallow goldrush era shafts extending over 80m of strike, on a parallel structure 500m north of the Cable deposit. A single fence of historical RAB holes was drilled, with one hole intersecting 8m @1.1g/t and ending in mineralisation. Odyssey drilled 3 shallow RC holes beneath the working and all 3 holes intersected significant quartz vein hosted mineralization. Future drilling will aim to extend the deposit along strike and down dip.
Page 16
ASX: ODY • ODYSSEYGOLD. COM. AU Bollard example 16 The Bollard pit mined a high grade shoot down to the water table in the 1990’s. Odyssey drilling has extended that deposit down to primary mineralisation with excellent grade and continuity. The current resource extends to around 150m below surface. A modelled open pit captures resources down to around 130m, but the high grade shoot extends to at least 260m, with compelling width and grades.
Page 17
Development Pathway ASX: ODY • ODYSSEYGOLD. COM. AU 17 Stage 1 – mine Cable starter pit, toll treat Cable starter pit only 600kt+ toll treatment at Kirkalocka → cashflow 1 year with 1 year option Feasibility Study due 30 Sept 2026 under TMA First toll milling campaign due March 27 under TMA Stage 2 – other deposits , on-site plant? Stage 2 Scoping Study due Q426, based on: - Full resource base of 451koz - on site treatment costs - M20/527 deposits followed by Highway, Bottle Dump, Kohinoor. Stage 3 – add mine life Extend mine life by adding resources from: - along strike extensions of existing deposits - deeper shoots below deposits - other shallow brownfields targets
Page 18
CAPITAL STRUCTURE (PRO -FORMA AFTER PLACEMENT ) ODY SHARES ON ISSUE 1,413m SHARE PRICE 16 July 2026 A$0.03 MARKET CAPITALISATION A$42m CASH 31 March 2026 A$9m ENTERPRISE VALUE $33m MINERAL RESOURCE (ODY 80% SHARE) 361k oz EV/oz A$91/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 18 Odyssey’s 80% share of Stage 1 Scoping Study net cashflows is $144m (pre-tax) – compares very favourably to current EV of $33m!
Page 19
Includes: • 5.4Mt @ 2.1g/t for 354koz on granted mining leases ASX: ODY • ODYSSEYGOLD. COM. AU Deposit Category Mining Method COG (Au g/t) Tonnes (Mt) Gold (g/t) Ounces (kOz) Anchor Inferred Pit 0.9 0.09 2.6 7 Bottle Dump Indicated Pit 0.9 0.15 3.4 17 Inferred Pit 0.9 0.76 2.2 54 Total 0.9 0.91 2.4 70 Bollard Indicated Pit 0.9 0.15 1.9 9 Inferred Pit 0.9 0.53 2.2 37 Total 0.68 2.1 46 Cable Indicated Pit 0.5 1.65 1.6 70 Inferred Pit 0.5 1.09 2.0 87 Total 2.75 1.8 158 Highway Inferred Pit 0.9 0.44 2.3 32 Inferred UG 2 0.35 5.8 65 Total 0.79 3.8 97 Kohinoor Inferred Pit 0.9 0.16 2.4 12 Inferred UG 2 0.03 9.1 9 Total 0.19 3.5 22 Lucknow Inferred Pit 0.9 0.22 1.3 9 Maybelle Indicated Pit 0.9 0.09 2.3 7 Inferred Pit 0.9 0.57 1.8 34 Total 0.66 1.9 41 Total 6.3 2.2 451 19 Mineral Resource Estimate (Odyssey share 80%) 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 2023, 15 February 2024 and 7 July 2026. 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 21
Page 20
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 “anticipate”, “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 on the Company. Actual results and developments will therefore almost certainly differ materially from those expressed or implied. Odyssey Gold has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by law, Odyssey Gold makes no representation and gives no assurance, 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 information which you may require in order to make an informed assessment of the Company’s prospects. Nothing contained in this presentation constitutes investment advice, financial product advice or legal, tax, accounting or other advice, nor does it take into account the financial 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 investigation, 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 Production Targets, Processing, Infrastructure, and Capital and Operating Costs is extracted from the Company’s announcement dated 9 July 2026. This announcement is available to view on the Company’s website at www.odysseygold.com.au. The information in this presentation that relates to Mineral Resources is extracted from the Company’s announcements dated 7 July 2026, 15 February 2024 and 2 August 2023, These announcements are available to view at www.odysseygold.com.au The information in this presentation that relates to Exploration Results is extracted from the Company’s ASX announcements dated 4/9/20, 22/10/20, 27/11/20, 14/1/21, 9/2/21, 22/2/21, 4/3/21, 19/5/21, 26/5/21, 3/6/21, 2/7/21, 21/7/21, 28/7/21, 14/10/21, 2/11/21, 15/6/22, 25/7/22, 4/8/22, 24/8/22, 1/9/22, 28/11/2, 8/12/22, 15/12/22, 9/3/23, 28/4/23, 28/7/23 2/8/23, 15/2/24, 30/10/24, 20/11/24, 9/12/24, 18/2/25, 5/5/25, 1/9/25, 25/9/25, 5/11/25, 3/12/25, 22/1/26, 11/3/26, 22/6/26, 16/7/26. These announcements are available to view on the Company’s website at www.odysseygold.com.au. The Company confirms that: (a) it is not aware of any new information or data that materially affects the information included in the original announcements; (b) all material assumptions and technical parameters included in the original announcements continue to apply and have not materially changed; and (c) the form and context in which the relevant Competent Persons’ findings are presented in this announcement have not been materially changed from the original announcements. IMPORTANT INFORMATION ASX: ODY • ODYSSEYGOLD. COM. AU 20
Page 21
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 ASX: ODY • ODYSSEY GOLD LTD