Slides
Page 1
1 Unlocking the Potential of a High-Grade Cu-Au-Ag District at Especularita Corporate Presentation: July 2025 LSE: GSCU
Page 2
LSE:GSCU 2 Disclaimer The information contained in these slides and the accompanying oral presentation (together, the "Presentation") have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). If any person is in any doubt as to the contents of this Presentation, they should seek independent advice from a person who is auth orised for the purposes of FSMA and who specialises in advising in investments of this kind. The information contained in this document does not purport to cover all matters that may be relevant for the purposes of considering whether or not to make any prospective investment and is not intended to provide, and should not be relied upon, for accounting, legal or tax advice. This Presentation is supplied to you solely for information. It does not constitute or form part of and should not be relied upon in connection with any offer, invitation or recommendati on to sell or issue, or a solicitation of an offer invitation or recommendation to purchase or subscribe for, any securities or other interest in the Company or any related entity and no legal relations shall be created by its issue. The information contained in this Presentation has been prepared by Great Southern Copper Plc (the "Company"). The Presentation and any further confidential information made available to any recipient, either orally or in writing, must be held in complete confidence and documents containing such information may not be reproduced, used or disclosed without the prior written consent of the Company. The Presentation shall not be copied, published, reproduced or distributed in whole or in part, to any other person, for any purpose at any time. The information contained in the Presentation is not intended to be viewed by, or distributed or passed on (directly or indirectly) to, and should not be acted upon by any class of person other than (i) qualified investors (within the meaning of the Prospectus Directive 2003/71/EC) and (ii) investment professionals falling within Article 19(5) and high net worth companies, unincorporated associations and partnerships and trustees of high value trusts falling within Article 49(2) respectively of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (or persons to whom it may otherwise be lawfully communicated) (together "Relevant Persons"). Persons who are not Relevant Persons should not attend the Presentation or rely on or act upon the matters communicated at the Presentation. The information herein is not directed to, or intended for distribution or use by any persons or entity that is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. In particular, the Information is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into Australia, New Zealand, Canada, Japan or South Africa. Persons into whose possession the Information comes should inform themselves about and observe such restrictions. The Information is not a solicitation of an offer to buy securities or an offer for the sale of securities in the United States (within the meaning of Regulation S under the Securities Act). The ordinary shares of the Company have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act and in compliance with the relevant state securities laws. No undertaking, assurance, representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its existing or proposed members, agents, affiliates, representatives, advisers, employees or directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document and no responsibility or liability is accepted by any such person for any loss however arising from any use of, or reliance on, or in connection with, this Presentation or its contents or otherwise arising in connection therewith. Notwithstanding this, nothing in this paragraph shall exclude liability for any such undertaking, assurance, representation or warranty made fraudulently. Certain statements in the Presentation are forward-looking statements, and the Presentation itself has been based upon a number of assumptions, forecasts and projections of the Company which by their nature are forward looking. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "potential", "anticipate", "plans" or "assumes" or similar expressions, or by discussions of strategy that involve risk and uncertainties. By their nature, forward-looking statements, assumptions, forecasts and projections involve a number of risks and uncertainties, and in some cases are based on estimates and incomplete information, that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements or by the Presentation as a whole. These risks and uncertainties, and the impact they have on the assumptions, forecasts and projections contained in the Presentation, could adversely affect the outcome and financial effects of the plans and events d escribed herein. To the extent available, the data contained in the information herein has come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein. In addition, certain of the data contained in the information come from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the market in which the Company operates. While the Company believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Each recipient acknowledges that: (i) the contents of the information herein include inside information relating directly or indirectly to the Company and relating to any proposed fundraise for the purposes of the Criminal Justice Act 1993 and Article 7 of the Market Abuse Regulation (EU) 596/2014 (as it forms part of UK law by virtue of the EUWA); (ii) it will take the necessary measures to ensure that every person in its organisation acknowledges his/her legal and regulatory duties in relation to the receipt of inside information and is aware of the restrictions relating thereto (including restrictions on (a) dealing in (or encouraging any other person to deal in) the Company's shares whilst in receipt of inside information), (b) using inside information and (c) disclosing, misusing or circulating the relevant inside information; and (iii) it is a person to whom the Information may be lawfully communicated in accordance with the restrictions set out in this disclaimer. By accepting the Presentation, you agree to be bound by these limitations and restrictions.
Page 3
LSE:GSCU 3 High-Grade Discovery at Mostaza: 600% Above Historical Grades • First hole CNG25DD001 at Mostaza mine intersects; ➢ 20m at 3.3% Cu and 270g/t Ag from 27m, ➢ Incl. 7m @ 5.72% Cu and 490g/t Ag from 31m • Results up to 600% higher than historical drill grades for Cu-Ag • Resource and exploration drilling programmes in progress • Significant potential to expand deposit along trend and at depth • Big company exploration position in emerging copper district Infrastructure in place Leveraged for growth Resource drilling Metallurgy studies High-grade Cu-Ag Exploration drilling Key project metrics:
Page 4
LSE:GSCU 4 • Historical mine with non-JORC resource • GSC identifies high grades in base of pit and exploration potential along trend • Phase I drilling (1,002.6 m) discovers new high- grade “manto” beneath old pit Lens 2 • Hole CNG25-DD001 intersects; ➢ 20m @ 3.3% Cu, 270g/t Ag, incl. ➢ 7m @ 5.72% Cu, 490g/t Ag • Phase II drilling (1,701 m) confirms strike potential up to 500m south of Lens 2 • Hole CNG25-DD007 intersects; ➢ 33m @ 1.96 % Cu and 60.6 g/t Ag incl, ➢ 5m @ 5.9 % Cu and 99 g/t Ag • Gradient array IP and rock chip Geochem confirm potential up to 2km to the south • Target > 5 Mt of high-grade Cu-Ag-Au 1 1. GSC sampling identifies high-grade Cu-Ag outcropping at the base of the old pit 2 2. CNG25-DD001 intersects; 20m @ 3.3% Cu, 270g/t Ag New Discovery Below Mostaza Cu-Ag Mine
Page 5
LSE:GSCU 5 Hole ID Metres Cu % Ag g/t DD001 20 3.3 270 incl 7 5.7 490 DD003 13 2.5 198 DD005 12 4.2 370 incl 7 5.1 450 DD007 5 5.9 99 incl 2.5 9.7 175 DD013 5 3 322 DD015 9.9 5.5 443 DD016 7.5 4.5 343 Mostaza Deposit: High Cu-Ag Grades
Page 6
LSE:GSCU 6 Cerro Negro: Work Plan to Target Resources Key Objectives: 1. Increase Mostaza mine Cu-Ag-Au resource (in progress) 2. Target mineralisation along trend (in progress) 3. Test porphyry Cu-Au at depth Work plan 2025-26: • 5,000m DD Mostaza • 5,000m scout RC • Metallurgy • Map/sample parallel structures • Deep IP / AMT DD006 – DD009 DD001 –DD005
Page 7
LSE:GSCU 7 Exploration to Increase Scale – Phase III Drilling IP Chargeability Rock Chip Cu (ppm) Rock chip Ag (g/t) 2 km
Page 8
LSE:GSCU 8 Cerro Negro: Large-Scale Porphyry Upside Cerro Negro features suggest porphyry Cu model High sulphidation cc-bo in GSC drill core Oxide Cu at surface along trend from Mostaza
Page 9
LSE:GSCU 9 Porphyry Cu-Au / IOCG / IRG exploration upside Drilling pipeline at Especularita beyond 2025 High-grade cc-bo CNG25-DD007, Lens 4 Cerro Negro High grade Cu-Ag discovery at Mostaza Mine Large footprint projects in emerging copper district Activity drives continuous news flow Aggressive low-cost exploration strategy Strategy for Success
Page 10
LSE:GSCU 10 Especularita: An Emerging Cu District Development activity: • Altar porphyry Cu deposit, Argentina – advancing to PFS (2026) ➢ 2.4 Bt @ 0.42% Cu (M&I) • El Espino IOCG deposit - PuCobre announces mine development ➢ 123 Mt @ 0.66% Cu, 0.23g/t Au Exploration activity: • Llahuin porphyry Cu project (ASX:SUH) - report JORC resource ➢ 149 Mt @ 0.41% Cu equiv. • Piuquenes porphyry Cu project, Argentina (TSXV:PM) - report broad Cu intersections in drilling ➢ 442m @ 0.42% Cu, 0.46g/t Au • Lana Corina breccia pipe Cu-Mo project (ASX:CPO) - reports Cu-Mo intersections ➢ 454m @ 0.79% Cu, 305ppm Mo London Underground Circle Line La Colorada lithocap EL Espino Llahuin GSC drill-ready prospects Cerro Negro (Mostaza) “GSC’s high-grade Cu-Ag discovery hole at Mostaza confirms Especularita as an emerging copper district.” Viuda (Viuda Negra) Brechia Amarilla Rulos Paclas Victoria / Lipa Aurelia Teresita Lana Corina
Page 11
LSE:GSCU 11 Especularita: Target / Scale / Location London Underground Circle Line Coquimbo Port Los Vilos Port Andacollo Cu-Au mine 1.7 Bt Cu Piuquenes projectEl Espino Cu-Au • Extensive under-explored lithocap ➢ Porphyry Cu indicator > 75 km2 • Abundant historical workings and mines ➢ Cu-Au workings surround lithocap ➢ Lithocap “masks” potential mineralisation • Near to coast at low elevation ➢ All-year access ➢ Near to port infrastructure ➢ Low-cost exploration / development • Forgotten mineral district ➢ Vast scale ➢ Known mines (Mostaza) ➢ Significant drill intersections (Llahuin) ➢ Projects in development (El Espino) Mostaza Cu-Ag-Au mine Colorada Lithocap Cerro Negro Lithocap Combarbala N GSC Concession area Artisinal workings And mines Cu-Au Especularita HS Lithocap alteration
Page 12
LSE:GSCU 12 Especularita: Multi-Target Opportunity Porphyry Cu-Au Targets IRCG Targets IOCG Targets La Colorada lithocap Lipa (Drill-ready) Paclas Viuda (RC drilling) Bechia Amarilla El Espino IOCG deposit PuCobre • in development • 123Mt of 0.66% Cu, 0.24g/t Au Aurelia (drill-ready) Los Rulos Los Alamos Llahuin PCD project (SUH:ASX) 149Mt @ 0.41% Cueq Victoria (Drill-ready) Teresita (RC drilling) London Underground Circle Line Lana Corina CPO • 454m of 0.79% Cu, 305ppm Mo Cerro Negro
Page 13
LSE:GSCU 13 Especularita: Cu-Au-Ag Mega-trends Cerro Negro • HS/Porphyry Cu-Ag-Au Victoria • Porphyry Cu-Au-Mo Lipa (Lithocap) • Porphyry Cu-Au-Mo Victoria • IRGS Cu-Au Teresita • IRGS Au-CuGranodiorite batholith Volcanics Antofagasta Lana Corina CPO • Porphyry Cu-Mo • 454m of 0.79% Cu, 305ppm Mo N SLos Andes Argentina Altar / Piuquenes • 2.4 Bt @ 0.4% Cu El Espino (PuCobre) • IOCG • 123Mt of 0.66% Cu, 0.24g/t Au
Page 14
LSE:GSCU 14 Especularita: Giant Spectral Anomaly • Landsat8 spectral survey highlights the “Colorada lithocap” as a giant colour anomaly • Coincident anomaly footprints for: ➢ Clay-sericite (yellow Landsat) – altered feldspar ➢ Hematite (red Landsat) – oxidised sulphides • Large scale of anomalism indicates significant hydrothermal fluid alteration • Strongly indicative of porphyry type alteration systems • Less prominent anomalies at known porphyry systems such as Llahuin, Viuda and Paclas due to deeper erosion of the lithocap in these locations • Implies significant potential for the Colorada lithocap to be “masking” large scale porphyry system or multiple systems Landsat 8 Hematite Llahuin PCD project (SUH:ASX) 149Mt @ 0.41% Cueq El Espino IOCG deposit (PuCobre) 123Mt @ 0.66% Cu, 0.24g/t Au Colorada Lithocap zone Cerro Negro Viuda Paclas Lipa / Victoria Landsat 8 Clay-sericite London Underground Circle Line
Page 15
LSE:GSCU 15 Advancing Prospects Through The Discovery Pipe-Line Early Stage: • Lipa (PCD) • Rulos (IOCG) • Brechia Amallia (PCD) Intermediate Stage: • Cerro Negro • Aurelia (Skarn / IOCG) • Viuda (Porphyry) • Victoria (IRGS) • Teresita (IRGS) Grass-roots Exploration Advanced Stage: • Mostaza Mine (HS/Porphyry) Resource Exploration • Regional geophysics • Remote sensing • Mapping and sampling • Stream sediments • Prospect geophysics • Detailed mapping • Soil sampling • Scout / prospect drilling • Resource drilling • Metallurgy • JORC resources • Geotech drilling Prospect Exploration
Page 16
LSE:GSCU 16 Especularita: Drilling Plan 2025-2026 10 km *Not to scale Teresita Brechia Amarilla Lipa / Victoria Cerro Negro Viuda Aurelia / Rulos • IRGS ✓ 500m RC • IR Cu-Au • Porphyry Cu • 1,000m scout RC • IRGS • HS Cu-Au • Porphyry Cu-Au • 1,000m scout RC Victoria • 2,000m DD Lipa • HS Cu-Ag • Porphyry Cu-Au ✓ 1,000m DD Phase I • 1,000m scout RC ✓ 1,400m DD Phase II • 5,000m DD Phase 111 • HS Cu-Au • Porphyry Cu ✓ 700m scout RC ✓ 550m scout DD • Skarn Cu+Au • 500m scout RC Quilitapia Batholith Volcanics Porphyry Granodiorite Lithocap Lithocap • HS Cu-Ag • Porphyry Cu 24 5 6 1 3
Page 17
LSE:GSCU 17 Value Scale – The Drilling Effect • Drilling has the potential to add real value • Sustained drilling leading to discovery and resource drilling adds exponential value • Increased value attracts potential for alternative funding sources that do not necessarily impact capital structure • Especularita: ➢ 5 drill-ready prospects and more to come • High grade Cu-Ag discovery hole at Mostaza platform for rapid growth; ➢ 20m @ 3.3% Cu, 270g/t Ag MC (USD), 82.27 0 10 20 30 40 50 60 70 80 90 ASTR CPO TBX GSC PERU TORQ RUG SUH PM TRBC MOG.V TSO CEL HCH Market Cap US$ M Junior Copper Explorers in South America Market Cap US$ m, March 2025 The drilling effect The resource effect The Lassonde Curve GSC pre-drilling GSC post-drilling
Page 18
LSE:GSCU 18 Viuda: Zoned Porphyry Au + Ag System Chl-epi-mag zone Chl-epi-mag Pyrite-albite-clay zone Advanced argillic (silica-clay) zone Viuda Chico Chl-epi-mag Chl-epi-mag Clay-ser-Fe-ox AA N Landsat 8 Drone magnetics
Page 19
LSE:GSCU 19 Viuda Porphyry Target: Scout RC drilling • Annulus of weathered clay-rich alteration about silica core creates typical “bowl” type topographic depression • Analogous in scale and type with Bajo de Alumbrera copper deposit in Argentina • Scout RC drilling completed to enhance geological interpretation and vector to mineralisation • Assay results pending Bajo de Alumbrera, Argentina Viuda, Especularita 1 km Phyllic alteration Phyllic alteration AA AA 1 km
Page 20
LSE:GSCU 20 Board Holdings and Major Shareholders (>3%) Company Information Corporate Information – June 2025 Based on total current shares in issue of 573.5m Share Price (GBP) – 6 Months Options and Warrants Description # Price Life/Vest Warrants - May 2023 fund raise 71.6m 2.4p 3 years Warrants - Dec 2023 fund raise 40.2m 4.5p 2 years Warrants - June 2024 fund raise 100.7m 3p 2 years Warrants - Nov 2024 fund raise 57.4m 2.5p 2 years Options - Apr 2025 scheme 24.8m 2.9p vest over 3 years Options - Sep 2023 scheme 22.5m 1p vest over 3 years Options - IPO scheme - Dec 2021 1.1m 1p vested Cash and cash-equivalents (Dec24 interim Financial report) US$1.10m * Plus convertible loan note £522,000 – converting at 2.9p/s INFORMATION AS AT JUNE 2025 Ticker Market Market Cap Share price Shares in issue Brokers GSCU LSE £18.06m 3.15p 573.5 SI Capital Marex Foreign Dimensions Pty 46.72%* Spreadex 3.12% Lowell Resources Fund 3.15% Sam Garrett (Director) 2.26% Other Directors 1.75%
Page 21
LSE:GSCU 21 Charles Bond: Chairman • Corporate finance lawyer with over 25 years of experience and has worked with mining companies for the past 15 years • Partner in the London office of international law firm Gowling WLG (UK) LLP where he leads the UK firm's Natural Resources group and Equity Capital Markets team • Acted as lead counsel for mining companies and financial advisers, advising on IPOs on the London and Toronto stock exchanges, on secondary fundraises, public and private M&A, corporate governance, joint ventures and earn-ins Sam Garrett: CEO • Geologist with over 30 years of exploration management, project assessment and operational experience working for large multi-national and junior mining and exploration companies in eleven countries and covering a broad range of geological environments • Specialist in copper and gold exploration with additional experience in iron ore, base metals and other specialist commodities • Highlights include discovery credits for the Mt. Elliot Cu-Au mine (Qld), Dinkidi Cu- Au mine (Philippines), Tujuh Bukit Au-Ag-Cu mine (Indonesia) and the Havieron Au- Cu project (WA) • Executive director of ASX-listed Flynn Gold Ltd and he holds non-executive positions in various private and public resource and consulting companies Martin Page: Chief Financial Officer • Qualified Chartered Accountant and experienced CFO • Extensive experience in capital and debt markets • CFO for Toro Gold, owner of Mako Gold Mine in Senegal, Africa which was sold to Resolute Mining for +$300m • CFO at Trident Royalties plc overseeing the company’s increase from $40m to +$200m market capitalisation Board and Management Nick Briers: Non-executive Director • Over 25 years of experience in financial markets heading up Exchange Traded Derivatives sales desks at a number of tier 1 broking houses, most recently at Tullett Prebon, now TPICAP, the worlds largest Inter Dealer Broker • Formerly a Non-Executive Director of AMTE Power • Currently a Managing Director at Shawpoint Investment Bank Stuart Greene: Non-executive Director • Geologist with 16 years of experience working in southern Africa as a mine geologist and geological consultant with Western Areas gold mine, SRK Consulting, Knight Piesold, Venmyn Rand and others • Former Director of RMB Resources, the resource investment arm of First Rand Bank, where he spent 14 years as a mining financier with RMB Resources providing equity and debt finance to junior mining companies • Currently a founding partner, director and investment advisor of Tanjun Capital Limited, and advisor to the European Bank of Reconstruction and Development Doug Kirwin: Technical Advisor • Independent geologist with 45 years of international experience including holding senior positions with Anglo American and Amax during the 1970s • In 1995, became VP, Exploration for Indochina Goldfields and subsequently became Executive VP of Ivanhoe Mines Limited until 2012, after which Ivanhoe was acquired by Rio Tinto • As a member of the joint discovery team for the Hugo Dummett deposit at Oyu Tolgoi in Mongolia, Doug was a co-recipient of the PDAC inaugural Thayer Lindsley medal awarded for the most significant international mineral discovery in 2004 • Other mineral discoveries made by his exploration team include the Jelai-Mewet and Seruyung epithermal deposits in northeast Kalimantan, the Eunsan, Moisan and Gasado gold mines in South Korea, the Moditaung gold deposits in Myanmar and the Merlin Re-Mo deposit in Australia
Page 22
LSE:GSCU 22 2025-26 Exploration Programme Proposal Q1 Q2 Q3 Q4 Mostaza drilling Cerro Negro regional Regional exploration – new targets ESPECULARITA PROJECT NEW PROJECTS Global / local project reviews Lithocap exploration – La Colorada Especularita • Cerro Negro – fast-track resource drilling at Mostaza mine, plus metallurgy, geotech, base-line environmental and water studies • Cerro Negro – regional exploration including geophysics and RC scout drilling for porphyry Cu targets • Lipa / Victoria / Aurelia prospects – prepare for first-pass drilling • Regional exploration – evaluate new targets including Breccia Amarilla New Projects • Chile – local networks deliver new opportunities • Global – global networks “Boots-on-ground” exploration is driving the potential for near-term discoveries on multiple prospects
Page 23
LSE:GSCU 23 *US International Trade Administration: Chile – Country Commercial Guide 2023 Why Chile? 0 200 400 600 800 1000 1200 1400 ESCONDIDA (BHP, RIO TINTO, JECO) COLLAHUASI (ANGL AMERICAN, GLENCOR, JAPAN COLLAHUASI RESOURCES EL TENIENTE (CODELCO) CHUQUICAMATA (CODELCO) LOS PELAMBRES (ANTOFAGASTA MINERALS) ANGLO AMERICAN SUR (ANGLO AMERICAN) RADIOMIRO TOMIC (CODELCO) CENTINELA* (ANTOFAGASTA MINERALS) MINISTRO HALES (CODELCO) Leading Copper Mines in Chile in 2020 (by 1000 metric tonnes) Chile is a Globally significant copper jurisdiction: • Largest producer and exporter of copper • Largest reserves of copper and 4th largest for gold • Replacement of copper reserves not matching depletion • Copper grades in decline and mining costs rising • Forecast supply shortage (sustained high prices) • Mining accounts for 58% of Chile’s exports (13.6% GDP) in 2022* • Stable political environment and experienced workforce
Page 24
LSE:GSCU 24 Summary Chile Jurisdiction Copper and gold Drilling pipe-line 100% mining rights Infrastructure Scale and grade LSE listed Management Largest producer and exporter of copper Tier 1 - Globally significant mining location Strong market drivers Especularita Cu-Au: 6 drill-ready targets Leveraged for success Well located near to roads, power, towns, ports Targeting PCD-IRCG-IOCG type deposits Dec. ‘21 listing on LSE Standard Board Significant discovery experience in Cu-Au
Page 25
25 Great Southern Copper PLC Sam Garratt, CEO Martin Page, CFO Charles Bond, Chairman Website: www.gscplc.com BlytheRay (Financial PR) Tim Blythe Megan Ray Said Izagaren Tel: +44 (0) 20 7138 3204 Email: gsc@blytheray.com @greatscopper Great Southern Copper