Slides
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ASX:STN www.saturnmetals.com.au APOLLO HILL HEAP LEACH GOLD: Rendered Visualisation of Apollo Hill Gold Project PFS Design Drawings Ian Bamborough Managing Director A Scalable Gold Development Opportunity in Western Australia
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2 Large Strategically Located Assets Central strategic position in a world class multi-million ounce gold province 60km south-east of Leonora in Western Australia 2.83Moz Au Mineral Resource1 in a single large deposit – 77% Measured & Indicated Category totalling 2.19Moz Au (Jun’26) Maiden Ore Reserve1 1.59Moz Au (Dec’25) Near term Reserve upgrade & DFS delivery CY’26 PFS delivered Net Present Value(8%) of A$973M over 14 year Mine Life on 1.77Moz Production Target1 100% ownership of ~1,000km² of underexplored district gold tenure APOLLO HILL GOLD PROJECT 1.Refer to ‘Listing Rule Disclosure’ – Slide 2.
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3 $- $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $- $50 $100 $150 $200 $250 $300 $350 $400 Share Price Market Cap. $M Market Capitalisation Share Price Compelling Value – Strong Register CORPORATE SNAPSHOT Corporate Structure Shares on Issue + Placement Announced 29 July 2026 1 (Tranche 2) 664.3M +186.2M Unquoted Options & Performance Rights 24.0M Market Capitalisation – A$0.555 per Share A$368.7M Trading Liquidity (Last 180 days) ~2.3M shares/ day Register Composition 3 Market Performance Assets Cash (31 August 2026) + Placement Announced 29 July 2026 1 (Tranche 2) A$80.6M +A$74.5M Enterprise Value A$288.1 Ore Reserves 4 1.59Moz Au EV/Reserve oz A$182 Mineral Resources 4 2.83Moz Au EV/Resource oz A$102 NPV8% 4 at A$4,300 (US$3,000) Gold A$973M 1. On 29 July 2026 Saturn Announced a Placement to raise $100.0M (before costs) through the issue of 250.0M New Shares at an iss ue price of $0.40 per New Share. Under the Placement, Tranche One for $25M / 63,783,443 New Shares was completed on 6 August 2026. Tranche Two for $75M / 186,216,557 New Shares is anticipated to complete on 25 September 2026, assuming Shareholder approval is received. Settlement of ~$40M of New Shares in Tranche Two may be delayed further, subject to the Foreign Investment Review Board. 2. All figures current as at 7 September 2026 unless otherwise disclosed. 3. ‘Register Composition’ as at 7 September 2026. 4. Refer to ‘Listing Rule Disclosure’ – Slide 2. Project NPV v EV 3%$973M $288M A$685M Value Gap (3.4x) Apollo Hill Gold Project PFS NPV (A$4,300 Gold) Saturn Metals EV • Dundee Corporation • Franklin Resources • Wythenshawe & Ass. • Directors & Mgmt. • Lion Selection Group • Dauntless Investment • Other Institutions & Funds • Other Shareholders
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4 APOLLO HILL 2.83MOZ GOLD MINERAL RESOURCE Apollo Hill December 2025 Maiden Ore Reserve 1,590,000oz (104.6Mt @ 0.47g/t Au at ~0.15g/t Au cut-off) PFS Production Target 1,770,000oz (117.4Mt @ 0.47g/t Au at ~0.15g/t Au cut-off) Note: Refer to ‘Listing Rule Disclosure’ – Slide 2, in relation to the Mineral Resource detailed on this slide. Big, Single, Simple, Large Selective Mining Unit, Low Unit Cost, Open Pit Shell • 2.19Moz in Measured and Indicated Categories • Well positioned for DFS & Reserve Update later in CY2026
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5 From Surface Bulk Mining ECONOMIES OF SCALE & LOW-COST MINING Note: Refer to ‘Listing Rule Disclosure’ – Slide 2, in relation to the PFS Production Target and Minerals Resource information detailed on this slide. Low Strip Life of Mine 2.39:1 in PFS Thick ore zones +100m Bigger selective mining units (10m benches); Big Equipment PFS pit shell to 310m – modest depth by current standards PFS Pit Shell A$3,550 (US$2,300) Strong Resource to Reserve Conversion
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6 Excellent Gold Extraction Characteristics for Easily Recoverable Gold SIMPLE METALLURGY – APOLLO’S BIGGEST COST DIFFERENTIATOR HEAP LEACH COLUMN TESTWORK +78% gold recovery in fresh rock columns at 8mm Crush 86% gold recovery in Oxide and Transitional Columns at 8mm Crush Flat Grade Recovery Curve Narrow band of predictable and timely finish in recovery curves for ore types Rapid Early Extraction Note: Results obtained from column leach tests across Apollo Hill’s geology, grade range and geography at P100 8mm HPGR Crush and P100 4mm HPGR Crush. Metallurgical results previously published to the ASX 01/08/22, 25/07/23, 17/08/23, 28/05/24, 12/02/25 & 17/12/25.
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7 Production Target – 1.77Moz Initial Target: 10Mtpa for 11 years (+3yrs inc. ramp up & ramp down) Life of mine production totals 117.4Mt at 0.47 g/t for 1.77Moz of contained gold Average waste to ore ratio of 2.39 to 1 Simple Flat Production Schedule 106koz per annum recovered in low- cost production scenario LOM recovered gold 1.3Moz Conventional Heap Leach Processing 2025 PRE-FEASIBILITY STUDY Note: Refer ‘Listing Rule Disclosure’ – Slide 2, in relation to the PFS Production Target detailed on this slide. 0.37 0.47 0.49 0.45 0.48 0.43 0.46 0.46 0.45 0.45 0.47 0.50 0.64 - 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Ounces (Koz) Annualised Gold Mined by Resource Inventory Inferred - oz Indicated - oz Measured - oz Au Grade (g/t)
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8 Full Scale Adjusted Stacking and Recovery Parameters in PFS EFFICIENT HEAP LEACHING OF FREE GOLD EASILY LIBERATED FROM QUARTZ VEINS BY HPGR CRUSH TO 8mm P100: SIMPLE METALLURGY LEADS TO CONVENTIONAL HEAP LEACH PROCESSING PFS uses 73.7% recovery & 160-days Stacking Schedule – Competitive Kinetics 4 x 10m High Heap Leach Lifts Low Reagent Use - 3.1kg/t cement agglomeration - 0.3kg/t lime - 0.3 kg/t NaCn Note: Metallurgical results previously published to the ASX 01/08/22, 25/07/23, 17/08/23, 28/05/24, 12/02/25 & 17/12/25. Heap Leach Drippers in Action Rendered Visualisation of Apollo Hill Gold Project PFS Design Drawings
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9 Bulk Mining & Processing Delivers Economies of Scale PFS ECONOMICS – A MARGIN X VOLUME BUSINESS • C1 Cost A$2,369/oz (US$1,534/oz) • ASIC A$2,464/oz (US$1,600/oz) • Mining of Ore & Waste A$4.23/t (10m SMU’s with 5m flitch) • Processing A$8.72/t A$M A$ /t Processed A$ /oz Payable Mining 1,673 14.25 1,282 Processing 1,020 8.72 780 Site G&A 169 1.45 129 C1 On-site Cash Costs 2,862 24.42 2,191 Refining & Transport 3 0.03 2 Royalties 229 1.96 176 C1 Off-site Cash Costs 232 1.99 178 Total C1 Cash Costs 3,094 26.41 2,369 Sustaining Capex (excludes closure costs) 123 1.05 95 AISC 3,217 27.46 2,464 Excavator – 29 m3 Bucket Low Cost = A$20.36/t Margin x Large Volume (10Mtpa Run Capacity) = Impressive Free Cash Flow @ A$4,300 Note: Refer ‘Listing Rule Disclosure’ – Slide 2. Pre-Feasibility Study Financial Results were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Gold Project Pre-Feasibility Study and Maiden Ore Reserve”.
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10 Processing – Infrastructure; Capital Investment in Efficiency and Consistent Quality of Product to Pad CAPITAL COST AND EFFICIENCY Tertiary Screens Coarse Ore Stockpile, reclaim tunnel And Feeders Fine Ore Bin and Cement Silos Secondary Cone Crusher to 32mm Primary Gyratory Crusher to 121mm Tertiary HPGR Crusher to 8mm Agglomeration Drums Conveyor Crushed and Agglomerated Product to Pad ROM Pad Radial Stacker • Base Load 10Mtpa – 30Ktpd Plant and Infrastructure • A$472M Capex Paid Back in 2.3 Years at A$4,300 Base Case Secondary Screens Heap Leach Pad Phase 3 Lift 1, Cell 1 Heap Leach Pad Phase 1 Lift 4 Processing and Non- Processing (NPI) Capital Cost A$M Process Plant 177 Heap Leach Pad, Site Prep and Bulk Earthworks 66 Bore Field 29 NPI, Site Accommodation and Airstrip 66 Project Indirects, EPCM, Owners Costs 52 Contingency 18 Sub-total 408 Leach Irrigation Pipes and Drippers Mining Area & associated Infrastructure Capital Cost A$M Mining Pre-Establishment including Indirects and Owners Costs 38 Grade Control Ore and Ore and Waste Mined 5 Sub-total 43 Other Pre-Production Costs Capital Cost A$M Vehicles, Plant, Equipment - Owners Team 4 Buildings and Facilities, Operational OHS and Community Support 18 Sub-total 21 Grasshopper Transfer Conveyors Rendered Visualisation of Apollo Hill Gold Project PFS Design Drawings Apollo Hill Open Pit Note: Refer ‘Listing Rule Disclosure’ – Slide 2. Pre-Feasibility Study Financial Results were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Gold Project Pre-Feasibility Study and Maiden Ore Reserve”.
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11 Robust Financials at A$4,300/oz Gold base case, a Healthy Margin PRE-FEASIBILITY STUDY – A FINANCIAL RESULT The Project demonstrates outstanding financial outcomes including: • a Project EBITDA of A$2.5B • a free cash flow of more than A$1.9B • Average Annual Production (Yrs1-12) of 106koz • an NPV8% of A$973M • an IRR of 51% • Average Annual Pre Tax Cashflow of A$190M (excludes capital costs) • AISC of A$2,464/oz • LOM Production Target 1.3Moz Au Recovered (600) (500) (400) (300) (200) (100) - 100 200 300 400 500 600 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 A$M Free Cash Flow - Cummulative Capital Payback 2.3 Years Note: Refer ‘Listing Rule Disclosure’ – Slide 2. Pre-Feasibility Study Financial Results were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Gold Project Pre-Feasibility Study and Maiden Ore Reserve”.
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12 Gold Price – Impact on NPV and IRR PRE-FEASIBILITY STUDY – SENSITIVITY ANALYSIS The base load Apollo Hill asset can drive sustainable long-term cash flow with potential for outstanding financial outcomes PFS Base Case Gold Price A$4,300 Current Gold Price ~A$6,100 Note: Refer ‘Listing Rule Disclosure’ – Slide 2. Pre-Feasibility Study Financial Results were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Gold Project Pre-Feasibility Study and Maiden Ore Reserve”. 0% 50% 100% 150% 200% 250% - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 3,750 4,000 4,250 4,500 4,750 5,000 5,250 5,500 5,750 6,000 6,250 6,500 6,750 7,000 7,250 7,500 7,750 8,000 IRR (%) NPV8 (A$M) Gold Price (A$ /oz)NPV8 IRR
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13 3.34Moz 2.95Moz 2.83Moz 2.26Moz 0.88Moz 0.77Moz 0.58Moz - 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 - 50 100 150 200 250 300 Grade Au g/t Deposit Size - Million Tonnes Arrived in a Globally Important Peer Group Current Resources firmly place Apollo Hill in bulk tonnage economic space: RESOURCE COMPARISON – HEAP LEACH GLOBAL STAGE Refer to Appendix D of this presentation for details of source data. | * Reserve only, gold heap leach portion Florida Canyon, USA Integra Resources Marrigold, USA SSR Mining Tujuh Bukit, IDN Merdeka Reserves* Moss, USA Mako Mining Corp Apollo Hill, AUS Saturn Metals Bald Mountain, USA Kinross Gold Corporation Grade Scale Strip Ratio Recovery Cost Structure Soledad Mountain, USA Andean Precious Metals
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14 Orthogonal Gold Trends RESOURCE GROWTH AS GEOLOGICAL PATTERNS EMERGE 3D Oblique View Illustration shows: • June 2026 Mineral Resource Block Model >0.75g/t Au • June 2026 Mineral Resource Constraining Pit shell • July 2025 Mineral Resource Constraining Pit shell Note: Live Geological Interpretation and 3D Animation in VRIFY During Presentation Drilling results reported in ASX Announcements dated: Hole AHRC1377 25/02/2026 & Hole AHRC1499 16/03/2026
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15 Lode Gold Architecture; Exploration Intersections show Extensional Potential to the North NEW HIGHER-GRADE EXTENSIONAL INTERSECTIONS Note: Live Geological Interpretation and 3D Animation in VRIFY During Presentation 3D Oblique View Illustration shows: • June 2026 Mineral Resource Block Model >0.75g/t Au • June 2026 Mineral Resource Constraining Pit shell Drilling results reported in ASX Announcements dated: Hole AA90 10/01/2018 (Prospectus), AHRC0813 28/10/2021 & AHRC1581 8/04/2026
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16 Assays Pending from First Phase AC, RC and Diamond Drilling (5,000m) THE NORTH 3D Oblique View Illustration shows: • June 2026 Mineral Resource Block Model >0.75g/t Au • June 2026 Mineral Resource Constraining Pit shell Note: Live Geological Interpretation and 3D Animation in VRIFY During Presentation Drilling results reported in ASX Announcements dated: Hole AA90 10/01/2018 (Prospectus), Hole AHRC0813 28/10/2021 & Hole AHRC1581 8/04/2026.
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17 10,000m of Resource Focused RC and Diamond Drilling Planned THE NORTH – NEXT STEPS 3D Oblique View Illustration shows: • June 2026 Mineral Resource Block Model >0.75g/t Au • June 2026 Mineral Resource Constraining Pit shell Note: Live Geological Interpretation and 3D Animation in VRIFY During Presentation Planned Drill Hole Program 'The North' Orange Drill Holes Extensional Resource RC Holes; Red Drill Holes Infill Resource RC Holes
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18 Geological System Extends South – 10,000m of AC, RC and Diamond Drilling Planned THE SOUTH 3D Oblique View Illustration shows: • June 2026 Mineral Resource Block Model >0.75g/t Au • June 2026 Mineral Resource Constraining Pit shell Note: Live Geological Interpretation and 3D Animation in VRIFY During Presentation
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19 AND AT SHALLOW DEPTHS OPEN FOR GROWTH IN MULTIPLE DIRECTIONS At Scale: 2.83Moz Resource against St George’s Terrace (Perth, WA) Drilling results reported in ASX Announcements dated: Hole AA90 10/01/18 (Prospectus), AHRC1581 8/04/26, Hole AHRC1292 13/08/25
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20 Brown Field Prospects and Greenfield Target Areas ~1,000km2 land package, large continuous gold system, large tracts of ground still untested, further regional exploration drilling (20km planned) REGIONAL OPPORTUNITIES Apollo Hill 2.83Moz Au Mineral Resource Aquarius Prospect Brownfields Target Deep South Sunrise Dam Ulysses 325000E 350000E 375000E 400000E 475000E450000E425000E 6775000N6750000N Exploration Leases Recently Granted (E39/2439, E31/1394 & E31/1340)
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21 2026 2027 2028 Timeline To Production DEVELOPMENT PLAN Definitive Feasibility Study Construction & Commissioning Regulatory Approvals Financing & Procurement Ongoing Drill Bit Strategy & Results Reporting Note: Indicative timetable, subject to change & refinement. Operations subject to permitting, approvals, funding & investment decision. 2029 Targeting First Gold 2029
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22 The following notices and disclaimers apply to this presentation, and you are therefore advised to read this carefully before reading or making any other use of this presentation or any information contained in this presentation. This presentation has been authorised for release to the Australian Securities Exchange (“ASX”) by the Board of directors of Saturn Metals Limited (“Board”). GENERAL The Company has prepared this presentation. Whilst the information contained in this presentation has been prepared with all reasonable care from information provided by the Company and from sources, which the Company believe are reliable, no responsibility or liability is accepted by the Company for any errors or omissions or misstatements, however caused. To the maximum extent permitted by law, the Company, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person thought the use or reliance on anything contained in or omitted in this presentation. Certain information in this presentation refers to the intentions of the Company, but these are not intended to be forecasts, forward looking statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. NOT AND OFFER & NOT FINANCIAL PRODUCT ADVICE This Presentation does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Saturn Metals Limited. This Presentation is not a disclosure document under Australian law or under any other law and does not purport to contain all the information any reader or prospective investor may require to make an investment decision and does not contain all the information required by Australian law or any other law to be disclosed in a prospectus. This Presentation may not be released to US wire services or distributed in the United States. The distribution of this Presentation in the United States and elsewhere outside Australia may be restricted by law. Persons who come into possession of this Presentation should observe any such restrictions as any non-compliance could contravene applicable securities laws. FORWARD LOOKING STATEMENTS & FORECASTS This presentation may include forward-looking statements. Forward-looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, “could”, “likely”, “nominal”, “conceptual”, “propose”, “will”, “forecast”, “estimate”, and similar expressions. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Saturn Metals. Neither the Company, its officers nor any other person gives any warranty, representation, assurance or guarantee that the events or other matters expressed or implied in this presentation (including the forward-looking statements) will actually occur. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward- looking statements. Any forward-looking statement in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Saturn Metals does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward-looking statement is based. COMPETENT PERSON’S STATEMENT Information in this report that relates to Exploration Targets, geology, and exploration results and data compilation is based on information compiled by: • Ian Bamborough, a Competent Person who is a Member of The Australian Institute of Mining and Metallurgists. Mr Bamborough is a fulltime employee of the Company in addition to being a shareholder of the Company. Mr Bamborough has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bamborough consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. • David Smith, a Competent Person who is a Member of The Australian Institute of Geoscientists. Mr Smith is a full-time employee of the Company, in addition to being a shareholder of the Company. Mr Smith has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Smith consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. LISTING RULE DISCLOSURE • Complete details of the Mineral Resource (174Mt @ 0.51g/t Au for 2,830,000oz Au) and the associated Competent Persons Statement were published in the ASX Announcement dated 3 June 2026 titled “Apollo Hill Gold Resource Jumps By 590,000 Ounces To 2.83 Million Ounces”. Saturn reports that it is not aware of any new information or data that materially affects the information included in that Mineral Resource announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and there have been no adverse material changes. • Complete details of the Ore Reserve (104.6Mt @ 0.47g/t Au for 1,586,000oz Au) and the associated Competent Persons Statement were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Pre-Feasibility Study and Maiden Ore Reserve”. Saturn reports that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and there have been no adverse material changes. • Complete details of the Production Target (117.4 Mt @ 0.47g/t Au for 1,771,200oz Au), the related Pre-Feasibility Study Financial Results and the associated Competent Persons Statement were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Gold Project Pre-Feasibility Study and Maiden Ore Reserve”. Saturn reports that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. IMPORTANT INFORMATION & DISCLAIMERS
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23 Mineral Resource – Apollo Hill Gold Deposit APPENDIX A Notes: • Model is mdah2026v1.dmx. • The model is reported above the 2026 nominal RF1.0 pit optimization shell (ah2026_run5000_ps31_rf1_ROTTR, AUD5,000) for definition of "reasonable prospects for eventual economic extraction" (RPEEE) and 0.20 g/t Au lower cut-off grade for all material types. • There is no depletion by mining within the model area. • Estimation is by ordinary kriging (OK) for all mineralised zones. • The model currently assumes a 10 mE x 25 mN x 10 mRL SMU for bulk open pit low-selectivity mining with grade domains defined using CIK on 2.5mE x 6.25mN x 2.5mRL blocks. Processing is by heap leach. The model does not account for mining related edge dilution and ore loss. These parameters should be considered during the mining study as being dependent on grade control, equipment and mining configurations including drilling and blasting. Classification is according to JORC Code Mineral Resource categories. • Measured is assigned only to areas having RC grade control drilling. Densities are assigned according to key lithological units and weathering oxidation states with values ranging from 1.7 to 2.9 t/m3. • Totals may vary due to rounded figures. • Complete details of the Mineral Resource (174Mt @ 0.51g/t Au for 2,830,000oz Au) and the associated Competent Persons Statement were published in the ASX Announcement dated 3 June 2026 titled “Apollo Hill Gold Resource Jumps By 590,000 Ounces To 2.83 Million Ounces”. Saturn reports that it is not aware of any new information or data that materially affects the information included in that Mineral Resource announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and there have been no adverse material changes. Mineral Resource Classification Oxidation Tonnes (Mt) Au (g/t) Au metal (Kozs) Measured Oxide 0.1 0.43 1 Transitional 0.7 0.57 13 Fresh 4.1 0.55 73 Subtotal 4.9 0.55 87 Indicated Oxide 0.9 0.43 12 Transitional 7.8 0.51 127 Fresh 120 0.51 1,960 Subtotal 129 0.51 2,100 Inferred Oxide 0.2 0.42 3 Transitional 1.6 0.44 22 Fresh 38.5 0.50 618 Subtotal 40.3 0.50 643 Grand Total 174 0.51 2,830 Measured, Indicated & Inferred Mineral Resource Ounces with Time: 505,000 685,000 781,000 944,000 1,469,000 1,839,000 2,030,000 2,239,000 2,830,000 - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 2017 2018 2019 2021 2022 2023 2025 Feb 2025 July 2026 June Gold Ounces Inferred Indicated Measured Total Ounces
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24 Ore Reserve – Apollo Hill Gold Deposit APPENDIX B Mineral Reserve Classification Oxidation Tonnes Au Au Metal (Mt) (g/t) (koz) Proven Oxide 0.0 0.56 0 Transitional 1.4 0.54 24 Fresh 3.4 0.49 54 Subtotal 4.8 0.51 78 Probable Oxide 0.6 0.50 9 Transitional 7.4 0.45 108 Fresh 91.9 0.47 1,391 Subtotal 99.8 0.47 1,508 Grand Total 104.6 0.47 1,586 Notes: • Complete details of the Ore Reserve (104.6Mt @ 0.47g/t Au for 1,586,000oz Au) and the associated Competent Persons Statement were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Pre- Feasibility Study and Maiden Ore Reserve”. Saturn reports that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and there have been no adverse material changes.
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25 Resource Comparison – Peer Group Data APPENDIX C Mineral Resource Mineral Reserve * Notes: Sources Excludes Stockpiles Reserve Only - Gold Heap Leach Portion 1. 2025 Annual Mineral Reserve and Resource Statement, Quoted at 31 Dec 2025, Sourced 28 May 2026, https://s204.q4cdn.com/896213035/files/doc_downloads/reserves_and_resources/KGC_2025_Final_AMRRS_Statement_2026-01-29.pdf 2. Mineral Reserve and Mineral Resource Estimates – from Integra Resources website, Quoted at 31 Dec 2025, Sourced 28 May 2026, https://integraresources.com/asset/reserves-and-resources/ 3. Reserves and Resources Tables, from website, Quoted at 31 Dec 2025, Sourced 28 May 2026, https://www.ssrmining.com/_resources/pdfs/Reserves-and-Resources.pdf?v=0.03 4. Mineral Resource Estimate – from Mako Mining Corp website, Quoted at 18 Dec 2025, Sourced 28 May 2026, https://www.makominingcorp.com/news-media/press-releases/index.php?content_id=1100 5. Golden Queen Mineral Reserve and Resource Statement, Quoted at 30 Sept 2023, Sourced 28 May 2026, https://wp-andeanpm-2023.s3.ca-central-1.amazonaws.com/media/2024/03/07212428/2023-Sept-30- Mineral-Reserves-and-Resources.pdf 6. Merdeka Copper Gold Consolidated Minerals Resources and Reserves Statement, Quoted at 31 Dec 2025, Sourced 28 May 2026, https://merdekacoppergold.com/wp-content/uploads/2026/04/Merdeka- Consolidated-MROR-31-December-2025_vFinal-5.pdf Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces 1 Kinross Gold Corporation Bald Mountain Production 5,678,000 1.00 188,000 139,266,000 0.50 2,360,000 78,862,000 0.30 790,000 223,806,000 0.46 3,338,000 2 Integra Resources Florida Canyon Production 64,362,000 0.36 748,000 94,829,000 0.72 2,203,000 159,191,000 0.58 2,951,000 3 SSR Mining Marigold Production 126,629,000 0.44 1,807,000 36,903,000 0.38 453,000 163,532,000 0.43 2,260,000 4 Mako Mining Corp Moss Production 9,550,000 0.36 112,000 47,521,000 0.35 534,000 12,326,000 0.31 122,000 69,397,000 0.34 768,000 5 Andean Precious Metals Soledad Mountain Production 2,667,000 0.99 86,000 39,147,000 0.58 736,000 3,625,000 0.45 53,000 45,439,000 0.60 875,000 Inferred TotalSource Company Desposit Stage Measured Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces 6 Merdeka Copper Gold Tujuh Bukit * Production 3,300,000 0.29 30,768 44,300,000 0.39 555,468 47,600,000 0.38 581,543 Source Company Desposit Stage Proven Probable Total
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26 PFS Sensitivity Analysis APPENDIX D Gold Price (A$/oz) 3,500 3,800 4,000 4,300 5,000 5,500 6,200 8,000 NPV8% A$M 379 601 750 973 1,493 1,864 2,384 3,721 NPV5% A$M 539 808 987 1,256 1,883 2,152 2,958 4,571 IRR % 25 34 41 51% 58 94 123% 146% Payback years 4.2 3.4 3.0 2.3 1.8 1.6 1.3 0.9 Annual EBITDA A$M 126 157 178 210 283 335 408 596 LOM EBITDA A$M 1,514 1,890 2,141 2,516 3,393 4,020 4,896 7,151 LOM Free Cash A$M 893 1,269 1,520 1,896 2,774 3,401 4,278 6,535 Operating AISC Margin A$/t 11.82 15.03 17.16 20.36 27.84 33.18 40.65 59.87 Notes: • Complete details of the Sensitivity Analysis conducted in relation to the Apollo Hill Pre-Feasibility study were published in the ASX Announcement dated 17 December 2025 titled “Apollo Hill Pre-Feasibility Study and Maiden Ore Reserve”. Saturn reports that it is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.