Investor Presentation - AusIMM Conference

The Silver Fern:
Turns to Gold
NZ Branch AusIMM Conference, Wellington
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

3

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 Including
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
4

Largest single discovery of gold
in NZ over past 40 years
5
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 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

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

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
7
66kV Substation
8km from the project

8

•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

The Rise & Shine (RAS)
5

•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

Outstanding Economics – for
Otago and NZ
GOLD PRICE: NZ$3,900/oz
AVG. GOLD
PRODUCTION/YR
110,000oz
LIFE OF MINE
(YRS)
10
EXPORT EARNINGS
$4.4 BILLION
TOTAL GOLD
RECOVERED
1.12Moz
1.ASX release 17 April 2024 – Outstanding Economics from RAS Scoping Study
All material assumptions continue to apply and have not changed materially.
14
NZ TAX AND ROYALTY
NZ$0.9 BILLION
NET PROFIT AFTER TAX
NZ$2.0 BILLION
POTENTIAL NZ DIVIDEND
NZ$0.8 BILLION
38% NZ-OWNED
POTENTIAL VALUE
60% OR $1.7 BILLION
REMAINS IN NZ
LOCAL AND
INTERNATIONAL SPEND
NZ$1.5 BILLION
OPERATIONS
OVER 250
JOBS
ECONOMIC MULTPLIER
+750 SUPPORT JOBS

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
Looking west
Inferred
Rise and
Shine Creek

16
High-grade core

17
High-grade core
41.6m @ 8.6g/t
Another booming gold hit

Mineral Resource Estimate (MRE 2024)
February 2023
1.The July 2024 RAS Mineral Resource Estimates (MRE) is based on work completed by Mr Kerrin Allwood, a Competent Person (CP) who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Allwood is a Principal Geologist
of GeoModelling Limited, Petone, New Zealand and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is 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”. Refer to ASX announcement on 16 February 2024 for further detail.
2.The information in this report that relates to prior 2021 Mineral Resource Estimates (2021 MRE) for CIT, SHR and SRE deposits completed by Ms Michelle Wild (CP) continue to apply and have not materially changed. Refer to ASX announcement on 28
September 2021 for further detail.
21
DepositCategorytonnes (Mt)Au grade
(g/t)
Contained
Gold (koz)
RAS
1
Indicated
19.12.41,445
Inferred
11.42.1772
RAS TotalIndicated and Inferred
30.62.32,217
CIT
2
Inferred
1.21.559
SHR
2
Inferred
4.71.1174
SRE
2
Inferred
0.31.311
RSSZ Total
Indicated
19.12.41,445
Inferred
17.61.81,018
RSSZ Total
Indicated and
Inferred
36.82.12,463

Thank you