Investor Presentation - Diggers and Dealers Mining Forum

Investor Presentation5 August 2024SMIMaterials

The Silver Fern:
Turns to Gold
Diggers and Dealers Conference, Kalgoorlie
August 2024
Damian Spring, CEO
Santana Minerals Limited ASX:SMI NZX SMI

Disclaimer
Disclaimer
All information contained in this presentation is of a general nature. Potential investors are cautioned
against using the content of this presentation, in isolation, for making investment decisions and should
also refer to Santana Minerals Limited (‘Santana’) Annual Reports and ASX:SMI and NZX:SMI
releases. For further information about Santana visit our website at www.santanaminerals.com.
Best efforts have been made to ensure the accuracy of information contained (at the time of
preparation). Where forward targets and/or assumptions have been included – all such instances are
indicative only and subject to alteration and/or cancellation as and when the management of Santana
determines.
Research and advice of a qualified financial advisor or accountant are strongly recommended to
anyone considering investing in listed company securities, including those of Santana.
Forward-Looking Statements
Forward-looking statements in this presentation include, but are not limited to, statements with
respect to Santana’s future plans, strategy, activities, events or developments the Company believes,
expects or anticipates will or may occur. By their very nature, forward-looking statements require
Santana to make assumptions that may not materialize or that may not be accurate. Although
Santana believes that the expectations reflected in the forward-looking statements in this presentation
are reasonable, no assurance can be given that these expectations will prove to have been correct,
as actual results and future events could differ materially from those anticipated in the forward-looking
statements. Accordingly, viewers are cautioned not to place undue reliance on forward-looking
statements. Santana does not undertake to update publicly or to revise any of the included forward-
looking statements, except as may be required under applicable securities laws.
Previous Disclosure - 2012 JORC Code
The information in this report that relates to Mineral Resources or Ore Reserves is based on information in
numerous announcements to the ASX and NZX including information relating to general Resources,
Exploration Targets and Exploration Data associated with the Company’s projects.
A copy of these announcements are available to view on the Santana Minerals Limited website
www.santanaminerals.com or on the ASX platform www.asx.com.au or on the NZX platform www.nzx.com.
The reports are issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves including the appropriate Competent Person’s
statements. The Company confirms that the form and context in which the Competent Person’s findings are
presented have not been materially modified from the original market announcements.
The Company confirms that it is not aware of any new information or data that materially affects the
information included in the original market announcements and, in the case of estimates of mineral
resources, that all material assumptions and technical parameters underpinning the estimates in the relevant
market announcement continue to apply and have not materially changes.
2

Largest single discovery of gold
in NZ over past 40 years
4
Waihi (TSX:OGC):
•Commenced at Martha Hill in 1988 with 1Moz at 5.9 g/t
1

Macraes (TSX:OGC):
•Commenced at Round Hill in 1990 with 1.8Moz at 1.4g/t
2
Globe Progress (TSX:OGC):
•2007-2016 started with 0.6Moz at 2.0 g/t
4
Snowy River (Federation Mining):
•Commenced development in 2022 0.7Moz at 23.0 g/t
5
Santana Minerals Ltd (ASX/NZX:SMI):
•Rise and Shine in 2024 with 2.2Moz at 2.3g/t
Bendigo-Ophir
Gold Project
OGC’s Globe Progress
FED’s Snowy River Gold mine
OGC’s Macraes Gold mine
Amongst world-class New Zealand gold operations
OGC’s Waihi Gold mine
Sources:
1
Gosling, Expansion at the Martha Mine, Waihi, AusIMM, 1997
2
Angus et al, Exploration Along the Hyde Macraes Shear, AusIMM, 1997
3
OceanaGold website
4
Cooksey, et al, Challenges of Selective Mining, AusIMM, 1997
5
Federation Mining website

Bendigo-Ophir (BOP) Gold Project
Multiple gold discoveries over five kilometres of strike
Come In Time
59koz @ 1.5 g/t Au
Rise and Shine
2,217koz @ 2.3g/t Au Incl
Indicated of 1,445koz @ 2.4g/t Au
Shreks
174koz @ 1.1 g/t Au
Shreks-East
11koz @ 1.3 g/t Au
Combined Total
2,463koz @ 2.1 g/t Au*
* refer to ASX release 2 July 2024
CIT
RSSZ
RAS
SHR
SRE
5

Project Location
•One hour east of
Queenstown
•Central Otago region of the
South island
•90km West of OceanaGold’s
Macraes gold mine
•15min drive from Cromwell
with 8,000 people
•In the semi-arid Central
Otago
•Private farmland, with
agreements to mine in place
6

The Bendigo-Ophir Gold Project – Simplified History
1860’s gold rush.
July 2022 drilling expands to 1.68 Moz
(27.2 Mt @ 1.8g/t Au). All Inferred
1
Feb. 2023 drilling expands to 2.66 Moz
(33.5 Mt @ 2.5g/t Au). 11.7% Indicated
1
Feb. 2024 infill drilling adds to >80,000m
of diamond drilling and refines MRE to
2.22 Moz (30.8 Mt @ 2.2g/t Au) with
58.4% Indicated
1
Santana embarks on Scoping
Study on RAS Indicated only to
reveal initial economic outcomes.
Coincident gold and arsenic
soil anomalies exposed.
MDD007
40.3m @ 2.05 g/t in TZ4 schists
under 120m of TZ3 cover rock
Shreks Area
Low-grade near surface
mineralsation in TZ4
schists
April 2021 - MDD007 changes the
game.
1
2012 JORC Guidelines for Mineral Resource Estimation

•A blind discovery
•85,000m+ of
Diamond Drilling
•1.7 km down-
plunge and open
•450m wide
•High-grade core
(150m-200m wide)
(30 - 40m thick)
•Bulk barren waste
pre-strip

The Rise & Shine (RAS)
5
1.7km

The Rise & Shine (RAS)
5

RAS - Scoping Study
Come In Time
59koz @ 1.5 g/t Au
Rise and Shine
2,216koz @ 2.2g/t Au
Shreks
174koz @ 1.1 g/t Au
Shreks-East
11koz @ 1.3 g/t Au
Combined Total
2,462koz @ 2.1 g/t Au*
CIT
BOP
RAS
SHR
SRE
Feb-24 RAS 1.3 Million oz
Indicated only17.1 Mt @ 2.4 g/t Au
* refer to ASX release 2 July 2024

RAS Scoping Study – Initial Physical Outcomes
•Base case US$1,650/oz (A$:US
0.66) or A$2,500/oz.
•Process Plant: CIL 1.5Mtpa
•Staged Open Pit
•11.8m
3
pre-strip (32Mt)
•8-year pit (12.1Mt @ 2.5g/t)
•Post pre-strip Strip ratio 9.8:1
•Underground (upper part only)
•4 years production
•2.3Mt @ 3.1 g/t
•84% Indicated
•Metallurgical Recovery 93%
•Total Ounces Produced
•1.12Moz recovered (10yrs)
Shepherds
Creek
Rise and
Shine Creek

RAS Scoping Study – Initial Fiscal Outcomes
Key Financial AssumptionsUnitBase Case AUDApprox Spot AUD
Gold Price Assumed$/ozA$2,500/ozA$ 3,650/oz
Key Project Metrics
Gold ProducedOz pa~ 112,000 oz/year
Initial Mine LifeYears10 years
Key Project Metrics
Gold Revenue$MA$ 2,800MA$ 4,088 M
Total Cash Operating Cost$M
$/oz
A$ 914M
A$ 816/oz
A$ 914 M

Project EBITDA$MA$ 1,886MA$ 3,174 M
Depreciation and Amortisation$MA$ 503MA$ 503M
Total Production Cost
$M
$/oz
A$ 1,417M
A$ 1,265/oz
A$ 1,417 M

After Tax Profit$MA$ 987 MA$ 1,902 M
Capital
Capital Plant and Infrastructure$MA$ 130M
Working Capital (pre-strip and
set-up).
$MA$ 103M
Sust. Capital (funded from prod’n)$MA$ 270M
A$250m in Capex
Benchmarking
110,000 oz per annum
C2 Costs of A$ 820/oz
Total Cost of A$ 1,265/oz
NPAT of $1.92 billion over 10 yrs
NPV
10
after tax of A$870m
IRR of 75%
Upgrading to PFS
Dec Quarter

A gold developer’s dream
Bendigo-Ophir
RAS Gold Project
Cromwell
8,000 people
Queenstown
International Airport
1hr away
No FIFO
No major camps
Main road access
Access to fresh water
Cheap power
State Highway 8
EASY ACCESS
Borefield
FRESH WATER
Clyde Dam Hydro Power
LOW COST GREEN ENERGY
5km
20
66kV Substation
8km from the project

Next Steps
21
Study Activity
Progress
Heritage surveysCompleted
Socio-economic baseline studyCompleted
Ecology fieldworkCompleted
Recreational baseline studyCompleted
Annual baseline water quality reportCompleted
Additional environmental studiesOngoing
Mine planning and engineeringOngoing
Drilling at satellite depositsOngoing
To DateDecember QuarterQ1 CY2025
Activity
Finish PFS
Engage financiers
Fast Track Approvals Bill - Vote
Activity
Apply for project consents
6 months under Fast Track Bill
12-14 month build time
PATHWAY TO
CONSTRUCTION

22
High-grade core

Thank you

Exercise of Options Another Booming Gold Hit from RAS

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.