NZX Listing Profile

GPO Box 1305
Brisbane, QLD4000
T: +61 7 3221 7501
Santana Minerals Ltd
Level 1, 371 Queen St
Brisbane, QLD 4000
ABN 37 161 946 989

July 25, 2024

Approval to list on New Zealand Stock Exchange


Santana Minerals Limited (Santana Minerals) (ASX and NZX:SMI) is pleased to announce its lisƟng on
the New Zealand Exchange (NZX) today as a Foreign Exempt Issuer under the Ɵcker “SMI”. Santana
Minerals retains its primary lisƟng on the Australian SecuriƟes Exchange.
Copies of Santana Minerals’ Profile and LisƟng ApplicaƟon LeƩer in connecƟon with its foreign exempt
lisƟng are aƩached to this announcement.
For copies of Santana Minerals’ corporate governance documents, including its consƟtuƟon, please
visit Santana Minerals’ website at
hƩps://www.santanaminerals.com/corporate-governance.
There is no equity offering associated with the NZX lisƟng.
Exchange: ASX NZX
Registry: Link Market Services LimitedMUFG Pension & Market Services
Address: Level 21
10 Eagle Street
Brisbane Qld 4000
Level 30, PwC Tower,
15 Customs Street West
Auckland 1010
Postal: Locked Bag A14
Sydney South NSW 1235
PO Box 91976
Auckland, 1142 DX CP23524
Telephone: 1300 554 474 +64 9 375 5998
Facsimile:
+61 2 9287 0303
+64 9 375 5990
Email: registrars@linkmarketservices.com.au enquiries@linkmarketservices.co.nz
Website: www.linkmarketservices.com.au www.linkmarketservices.co.nz

This announcement has been approved for release by the Company Secretary.
Craig McPherson
Company Secretary
Santana Minerals Limited
+ 61 7 3221 7501

NZX RELEASE
ASX/NZX: SMI

S A N T A N A M I N E R A L S L I M I T E D
Profile for Listing as an NZX Foreign Exempt Issuer

Date: 18 July 2024

Section 1: Issuer and financial product information
Name of issuer Santana Minerals Limited
Financial product name/description Fully paid ordinary shares in Santana Minerals Limited
NZX ticker code SMI
ISIN AU000000SMI3
Australian registration number
(ABN, ACN, ARBN, ARSN)
ACN 161 946 989
Main business activity Santana Minerals Limited (Santana) is a precious metals
exploration and development company. Santana
Minerals is focused on the exploration and development
of gold and precious metals and the investigation of
projects involving those activities.
Brief details of issuer’s operating
activities
Santana’s current focus is its 100% owned Bendigo-
Ophir Gold project (Project) in New Zealand which aims
to develop a world class, long life, environmentally
responsible mining project that will bring sustainable
employment and economic benefits to the Central Otago
region, in the lower South Island.
The Project covers 292km
2
and is located 90 kilometres
northwest of OceanaGold’s Macraes Gold Mine which
has produced in excess of 5 million ounces of gold since
1990. Current mineral resources at the Project exceed
2.4 million ounces of gold.
The below image illustrates the location of the Project and
its proximity to OceanaGold’s Macraes Gold Mine and
local cities.

Santana’s New Zealand wholly owned subsidiary,
Matakanui Gold Limited, holds a Minerals Exploration
Permit (MEP 60311), issued on 13 April 2018 for a
standard term of five years. In 2023 the term of this permit
was extended for a further five years until 12 April 2028.
Based on current positive results, Santana will apply for
a mining permit over a portion of the area covered in MEP
60311.
The Project comprises four key locations, collectively
referred to as the Rise and Shine Shear Zone (RSSZ).
These are:
• Rise and Shine (RAS);
• Come In Time (CIT);
• Shreks (SHR); and
• Shreks-East (SRE).
The RAS deposit will be the initial focus for the Project.
Following infill drilling at the RAS deposit, the mineral
resource estimate (MRE) announced on 16 February
2024 upgraded the indicated proportion of resources
464% from 279koz (in February 2023) to 1.293Moz (in
February 2024) of gold. More recent infill drilling has
further increased the RAS deposit indicated category to
1.45Moz. As at June 2024, the global MRE on the RSSZ
stands at 36.8Mt @ 2.1g/t.
Indicative metallurgy shows free milling gold recoverable
by gravity followed by cyanide leach are expected to
achieve 91% to 94% recovery at 106-micron grind.
Roadmap to mining
Santana is currently undertaking its prefeasibility study to
inform the applications for the required development
permits. Santana anticipates completing its prefeasibility
study in the December quarter and finalising its definitive
feasibility study next year.

The Fast Track Approvals Bill (Bill) is expected to be
passed into law later in 2024 and Santana will continue
its environmental baseline studies and assessment of
environmental effects in readiness for making an
application under the Bill. Baseline studies which are
either underway or have been completed include studies
of water flow and quality, weather and air quality, ecology
and archaeology and heritage. Santana has land access
agreements in place which are sufficient to enable
mining.
The Bill has passed its first reading and public
submissions on the Bill closed on 19 April 2024. The Bill
not only encompassed the RMA but also several other
pieces of legislation which require their own permits for
mining, including the Wildlife Act 1953 and the Heritage
New Zealand Pouhere Taonga Act 2014. The application
under the Bill is also intended to request these permits
and is to be ready by the end of 2024. A decision under
the Bill would be expected to take approximately six
months.
Regardless of whether the Bill is adopted into law,
permitting applications will be drafted to the standard
required under the existing Resource Management Act
1991 (RMA) later this year. An application under the RMA
is expected to be ready by the end of 2024 and once
submitted Santana expects it would be publicly notified.
The timing of when approvals are granted will be
determined by the regulatory authority (in this case the
Otago Regional Council and the Central Otago District
Council) and the quality of the application submitted.
Projected timing is 12 months for a decision on whether
consent has been granted under the RMA.
A mining permit will be applied for in the 2024 calendar
year and is separate to the above processes. A number
of consents will also be required.
Santana will then make the final investment decision on
whether to approve the Project’s future development. If
approved, Santana will commence construction. In
making the final investment decision, Santana will have
regard to whether its finances are sufficient to meet the
costs of construction and working capital, until a positive
cashflow is generated by the sale of gold.
Matakanui Gold Limited also holds Minerals Prospecting
Permit (MPP 60882) which was granted on 1 December
2023 for a standard term of two years. The area covered
by MPP 60882 is not the subject of the proposed initial
mining activities, which is covered by MEP 60311. MPP
60882 can be renewed for a further two years and can be
converted into a Minerals Exploration Permit.
If the work programme for MPP 60882 is not completed
to New Zealand Petroleum and Minerals’ (NZPAM)
satisfaction, extension or conversion of the Minerals
Prospecting Permit may not be granted by NZPAM. The
board of Santana considers the risk of this is low because

Santana is confident it can complete the work programme
and have the funds on hand to do so.
Other interests
In addition to the Project, Santana also has interests in
projects in Cambodia and Mexico.
Santana has a 34% interest in a Cambodian project,
which has two exploration licenses targeting gold. The
project is a free-carried joint venture with Emerald
Resources, who are developing the Gold Okvau Mine,
which is within close proximity to Santana’s tenements.
Recent Capital Raising
On 3 May 2024 Santana announced on the ASX it had
completed the issue of 27,139,288 fully paid ordinary
shares at $1.15 to raise approximately $31.2 million. On
24 June 2024 Santana announced on the ASX it had
raised a further $734,850 at the same issue price,
pursuant to a share purchase plan.

As announced on the ASX on 4 July 2024, Santana’s
cash reserves (net of trade payables) were approximately
AUD $32 million at 1 July 2024. Santana expects its June
quarterly report will be available on the ASX prior to 25
July 2024.
Brief history of issuer
• Santana was incorporated in January 2013 as a
wholly owned subsidiary of Cerro Resources NL
(Cerro). Cerro was listed on the ASX in 1988 and in
May 2013 merged with Primero Mining Corporation
to progress the Cerro de Gallo gold/silver heap
leach mine in Mexico.
• Santana’ shares were distributed to Cerro’s
shareholders to separate Santana’s interests from
Cerro’s other projects and interests. Santana then
listed on the ASX in May 2013 as a precious metals
explorer with interests in Mexico and Australia.
• Initially, Santana’s primary focus was the Espiritu
Santo Project in Jalisco State Mexico and
Namiquipa Silver, Lead, Zinc Project in Chihuahua
State of Mexico. In the 2018 financial year this
project was disposed of.
• In June 2018 Santana purchased 100% of the
Becker Gold Project in Chile through a wholly owned
subsidiary. In the 2021 financial year Santana
withdrew from this project.
• In December 2019 Santana purchased the
Sayabouly project in Laos and the Cambodian
project. In the 2021 financial year Santana disposed
of its interest in this project.

• On 3 November 2020 Santana announced it had
acquired Matakanui Gold Limited. In doing so, it also
acquired its 100% interest in the Project.
• At the end of the March 2024 quarter, a scoping
study focused solely on the indicated portion of the
RAS deposit revealed positive outcomes from an
initial 10 years of mining. The vast majority of
deeper and inferred resources were excluded from
the study. These are subject to ongoing infill drilling.
Highlights of the scoping study included:
• a 1.5Mtpa processing plant recovering a total
of 1.12Moz of gold at an average production
rate of 110,000oz per annum for an initial 10
years;
• an after tax Net Present Value
10
of NZ$937M,
Investor Rate of Return of 75% and a simple
payback of one year achievable at spot prices
for gold of NZ$3,900/oz;
• a net profit after tax (NPAT) of NZ$2.0 billion
generated over the initial 10 years; and
• cash operating costs to produce gold of NZ
$897/oz and total production costs of NZ
$1,392/oz.
Key features/terms of the financial
products
• 206,468,935 Ordinary Shares.
• Currently quoted on the ASX market.
• To be quoted on NZX market in connection with this
profile.
• Confer equal rights to vote, receive distributions and
share in surplus assets on a wind up of Santana.
Santana currently has the following Options and
Performance Rights on issue:
• SMIAT: 363,176 Performance Rights;
• SMIAS: 196,393 Options expiring 11 December
2026, exercise price $0.9375;
• SMIAR: 1,600,000 Options expiring 23 January
2026, exercise price $0.9375;
• SMIAQ: 1,140,310 Options expiring 3 November
2024, exercise price $0.30;
• SMIAE: 500,000 Options expiring 23 January
2026, exercise price $0.885;
• SMIAU: 34,581,701 Options expiring 28 February
2025, exercise price $1.08; and
• SMIAF: 1,500,000 Options expiring 23 October
2026, exercise price $0.0667.

• Each option or performance right confers a right to
receive one share on exercise or satisfaction of
vesting condition.
• No options or performance rights are quoted on any
recognised exchange.
• There are no Santana shareholders with a relevant
interest in more than 20% of the shares on issue.
Details of tax consequences
applicable to the financial products
Tax can have significant consequences for investments.
If you have queries relating to the tax consequences of
investing in the shares, you should obtain professional
advice on those consequences.
Details of fees applicable to the
financial products (for example,
annual fees or performance fees)
Applies to fund securities only
N/A
Details of the directors’ intentions as
to Issuer’s future dividend policy
Applies to equity securities only
Santana does not anticipate paying any dividends in the
short to medium term. Santana earns no operating
revenue at present as it focuses on obtaining a mining
permit and necessary consents to take the Project into
production. When production commences Santana will
commence operating revenues. The Santana board will
at that time adopt a dividend policy having regard to
Santana’s prevailing financial position.
Details of any waivers from the ASX
listing rules
N/A
Website URL to access previous
announcements by the issuer under
the ASX listing rules
https://www.asx.com.au/markets/company/smi
Section 2: Contact details
Address of registered office in place
of incorporation
Level 1, 371 Queen Street,
Brisbane,
Queensland 4000,
Australia.
Contact telephone number for
investor enquiries
+61 416010684
E-mail address for investor enquiries cmcpherson@santanaminerals.com
Website URL
(for investor information)
www.santanaminerals.com
Section 3: Other details
Place and date of incorporation Australia, 15 January 2013

Legislation under which incorporated Corporations Act 2001
Annual balance date 30 June
Home Exchange Australian Securities Exchange (ASX)
Listing category on Home Exchange Equity
Any other exchanges on which the
issuer is listed or financial products
quoted
N/A
Name of audit firm KPMG Australia
Currency of reporting AUD
Name of financial product registry MUFG Pension & Market Services
Address of financial product registry PO Box 91976
Telephone number of financial
product registry
+64 9 375 5998
Fax number of financial product
registry
+64 9 375 5990
Email address of financial product
registry
Registrars@linkmarketservices.com.au
Section 4: Governance
1

Full name of all current directors Peter Cook – Non-Executive Chairman
Kim Bunting – Non-Executive Director
Sam Smith – Executive Director
Damian Spring – Executive Director
Full name and title of CEO/managing
director
Damian Spring, Chief Executive Officer
Full name and title of CFO Craig McPherson, Company Secretary and Chief
Financial Officer
Full name and title of Company
Secretary
Craig McPherson, Company Secretary and Chief
Financial Officer
Section 5: Confirmation
Confirmation this Profile document is
complete and accurate, and that the
issuer holds no information that has
not been disclosed to ASX that
Confirmed

1
If the applicant is a fund or managed investment scheme, provide details for the manager/responsible
entity.

should have been disclosed under
the ASX listing rules
Confirmation the issuer complies with
the listing rules of ASX
Confirmed
Section 6: Authority for this Profile
Name of person

authorised to
release this Profile
Santana Minerals Limited
Contact person for this
announcement
Craig McPherson (Company Secretary)
Contact phone number Craig McPherson: +61 416010684
Contact email address cmcpherson@santanaminerals.com

NZ RegCo
Level 1, NZX Centre
11 Cable Street
Wellington 6140

18 July 2024

By email: issuer@nzregco.com

Santana Minerals Limited - Application for Listing as a NZX Foreign Exempt Issuer and Quotation
of Equity Securities on the NZX Main Board

Santana Minerals Limited (Santana) is making this application to list as a NZX Foreign Exempt Issuer,
and quotation of the issuer’s securities on the NZX Main Board. Santana has a listing and quotation on
the Australian Securities Exchange (ASX). Santana trades under ticker SMI on the ASX and has been
listed since 31 May 2013.

Craig McPherson Company Secretary and Chief Financial Officer, provides this application for listing and
quotation on behalf of Santana in accordance with the NZX Listing Rules (Rules).

Santana understands that the ticker code SMI has been reserved by NZX for Santana.

Listing information – Rule 1.12

Rule Requirement Information
1.12.2(a)
Listing Agreement
The Pre-Listing Agreement was entered into on 10 June 2024.

A Listing Agreement signed by Santana has been provided.
1.12.2(b)
Governing Document
The Governing Document is provided with this letter.
1.12.2(c)
Payment of fees
Santana confirms that it will pay all fees prescribed by NZX while
listed.
1.12.2(d)
Quotation
See section below Quotation Information.
1.12.2(e)
Certificate of Incorporation
The certificate of incorporation is provided with this letter.
1.12.2(f)
Bond
The deposit required has been provided.

Information on the bond can be found in the NZX Fee Schedule.
1.12.2(g)
Securities on Issue
Santana currently has 206,468,935 securities (fully paid ordinary
shares) on issue which are quoted securities on the ASX.

Provide the number and details for each class of securities.

Santana currently has the following additional securities which

are not quoted in the ASX:

• SMIAT: 363,176 Performance Rights;
• SMIAS: 196,393 Options expiring 11 December 2026,
exercise price $0.9375;
• SMIAR: 1,600,000 Options expiring 23 January 2026,
exercise price $0.9375;
• SMIAQ: 1,140,310 Options expiring 3 November 2024,
exercise price $0.30;
• SMIAE: 500,000 Options expiring 23 January 2026,
exercise price $0.885;
• SMIAU: 34,581,701 Options expiring 28 February 2025,
exercise price $1.08; and
• SMIAF: 1,500,000 Options expiring 23 October 2026,
exercise price $0.0667.
Santana does not intend to issue or allot any additional securities
prior to listing other than any shares issued due to the exercise of
options or in connection with any share scheme.
1.12.2(h)
Contact addresses
The contact details of Santana are:

Phone number: +61 (07) 3221 7501
Postal address: GPO Box 1305, Brisbane, QLD 4001
Email address: cmcpherson@santanaminerals.com
1.12.2(i)
Annual Reports
Annual reports for the past five years are attached.
1.12.2(k)
Any other information
Interim financial statements/report: Any interim financial
statement/interim report that is more recent than the applicant’s
latest annual report is attached.

MAP agreement: A copy of the Market Announcement Platform
(MAP) agreement (available here), signed by Santana
accompanies this letter.

Information for NZX.com: An overview of issuer’s business for
inclusion on NZX.com, is set out below:

Santana Minerals Limited is a precious metals exploration and
development company. Santana Minerals is focused on the
exploration and development of gold and precious metals and the
investigation of projects involving those activities.

Other applications: Please confirm that the applicant has not
previously applied for, and had declined or has withdrawn, listing
and quotation on another securities exchange.

Confirmed

Provide any other information or documents that NZX has
requested.

1.7.2(d)(ii)
Details of any existing waivers

Please summarise any waivers
from all or part of the ASX listing
rules which are currently being
relied upon, or upon which the
Issuer has relied within the 12
months prior to this application

None

Quotation information – Rule [1.13/1.15]
Requirement Information
Details of the Securities for which
application for Quotation is sought
Number: 206,468,935 Ordinary Fully Paid Shares will be on
issue subsequent to Quotation
Class: Equity Securities
Face value (if any): N/A
ISIN: AU000000SMI3

Note the list price of the Securities to be Quoted on NZX will
be the closing price on the last ASX trading day prior to NZX
Quotation, adjusted for foreign exchange.
Profile in respect of the Securities The Profile in the form of the NZX template is provided with
this Listing Application.
Registry information MUFG Pension & Market Services
All other documents or information as
specified in any guidance published by
NZX from time to time
N/A
Primary contact for the Listing
Application
The contact details of Primary Listing Contact are:

Primary Listing Contact: Craig McPherson
Phone number: +61 416010684
Email address: cmcpherson@santanaminerals.com

Secondary Contact: Matt Yates / Katie Read
Phone number: +64 21 277 9350 / +64 4 471 9464
Email address: matt.yates@duncancotterill.com /
katie.read@duncancotterill.com
Primary and Secondary Contacts at
the Issuer for NZX and NZ RegCo
The contact details of Primary Contact and Secondary
Contact are:

matters
Primary Contact: Craig McPherson, details above.

Secondary Contact: Sam Smith
Phone number: + 61 427777309
Email address: ssmith@santanaminerals.com
Text for the company description
section of nzx.com
Santana is focused on discovery and development of precious
metals deposits, including the Bendigo-Ophir Gold Project in
New Zealand.
Billing Information Sheet The Billing Information Sheet is provided with this letter.
Any other information required by NZX We have not received any further requests for information
from NZX.
For Fund Securities only
The names of the responsible entity,
investment manager, investment
adviser, administration agent and
custodian of the investment fund (as
applicable)
N/A
For Fund Securities only
Details of any designation sought for
the Fund Securities and the
certification methodology applied for
such designation.
N/A
For Fund Securities only
The compliance plan that applies to
the fund securities under Part 5C of
the Corporations Act 2001
N/A

Santana confirms the information provided to NZX is complete and accurate. Santana acknowledges
that NZX may disclose certain information or this application, including with ASX and ASIC.

Santana acknowledges that NZX is not obliged to grant a listing or quotation application, regardless of
whether Santana complies with all applicable provisions of the Rules. NZX may refuse an application in
its absolute discretion and without giving any reasons for such reasons.

Dated: 18 July 2024


___________________________
Craig McPherson
Company Secretary and Chief Financial Officer