Presentation - Beaver Creek Precious Metals Summit

Damian Spring, CEO
Santana Minerals Limited ASX:SMI NZX:SMI
Precious Metals Summit, Beaver Creek, September 2024
Primed for permit and construction

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.comor on the ASX platform www.asx.com.auor 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.

Central Otago, South Island, New Zealand

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

Bendigo-Ophir (BOGP) Gold Project
Multiple gold discoveries over five kilometresof 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
Srex
174koz @ 1.1 g/t Au
Srex-East
11koz @ 1.3 g/t Au
Combined Total
2,463koz @ 2.1 g/t Au*
* refer to ASX release 2 July 2024 and Appendix 1
CIT
RSSZ
RAS
SRX
SRE

•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)
1.7km

The Rise & Shine (RAS)
5

The Rise & Shine (RAS)
5

The Rise & Shine (RAS)
5
1.7km

The Rise & Shine (RAS)

The Rise & Shine (RAS)
5
1.7km
05,00010,000
IndicatedInferred
Ounces per vertical metre

Thick, continuous, high-grade
Top 20 Continuous Intercepts –Gram Metres
MDD330
201 g.mAu
39.5m @ 5.1 g/t
from 167.5m
MDD054
410 g.mAu
29.3m @ 14.0 g/t
from 165.8m`
MDD016
195 g.mAu
11.2m @ 17.4 g/t
from 193.8m
MDD215
376 g.mAu
34.5m @ 10.9 g/t
from 269.5m
MDD084
186 g.mAu
17.1m @ 10.9 g/t
from 177.9m
MDD326
358 g.mAu
41.6m @ 8.6 g/t
from 164.4m
MDD329
186 g.mAu
34.5m @ 5.4 g/t
from 173.5m
MDD051
313 g.mAu
42.9m @ 7.3 g/t
from 152.1m
MDD085
180 g.mAu
35.9m @ 5.0 g/t
from 173.1m
MDD332
294 g.mAu
35.4m @ 8.3g/t
from 161.6m
MDD244
168 g.mAu
40.9m @ 4.1g/t
from 165.2m
MDD080
285 g.mAu
46.0m @ 6.2 g/t
from 179.0m
MDD221
157 g.mAu
18.1m @ 8.7g/t
from 182.9m
MDD313
243 g.mAu
30.7m @ 7.9 g/t
from 170.3m
MDD239
156 g.mAu
25.1m @ 6.2g/t
from 174.9m
MDD328
242 g.mAu
41.8m @ 5.8 g/t
from 167.3m
MDD256
150 g.mAu
19.6m @ 7.6g/t
from 217.4m
MDD226
219 g.mAu
31.7m @ 6.9 g/t
from 183.3m
MDD281
146 g.mAu
16.0m @ 9.1g/t
from 268.1m
MDD192
203 g.mAu
4.0m @ 50.8 g/t
from 168.0m

RAS Scoping Study –Initial Physical Outcomes
•Base case US$1,650/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

INITIALOUTCOMES
1
–First 10 years
SPOT GOLD PRICE: USD$2,500/ozSPOT GOLD PRICE: USD$2,500/oz
AVG. GOLD
PRODUCTION/YR
110,000oz
AVG. GOLD
PRODUCTION/YR
110,000oz
LIFE OF MINE
(YRS)
10
LIFE OF MINE
(YRS)
10
REVENUE
US$2.8 BILLION
REVENUE
US$2.8 BILLION
PRE-PROD & WORKING
CAPITAL
US$154 MILLION
PRE-PROD & WORKING
CAPITAL
US$154 MILLION
TOTAL CASH OPERATING
COST
US$538/oz
TOTAL CASH OPERATING
COST
US$538/oz
TOTAL PRODUCTION COST
US$835/oz
TOTAL PRODUCTION COST
US$835/oz
TOTAL GOLD
RECOVERED
1.12Moz
TOTAL GOLD
RECOVERED
1.12Moz
NET PROFIT AFTER TAX
US$1.4 BILLION
NET PROFIT AFTER TAX
US$1.4 BILLION
AFTER TAX
NPV
10
US$0.6 BILLION
AFTER TAX
NPV
10
US$0.6 BILLION
AFTER TAX
IRR
77%
AFTER TAX
IRR
77%
EST. TIME TO
CONSTRUCTION
<12 MONTHS
EST. TIME TO
CONSTRUCTION
<12 MONTHS
SIMPLE
PAYBACK
1 YEAR
SIMPLE
PAYBACK
1 YEAR
1.ASX release 17 April 2024 –Outstanding Economics from RAS Scoping Study
All material assumptions continue to apply and have not changed materially.
EST. TIME TO
PERMITTING
6 MONTHS
EST. TIME TO
PERMITTING
6 MONTHS

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
66kV Substation
8km from the project

Low-cost drivers
1
NI 43-101 Technical Report, Macraes Gold Mine, Otago, New Zealand, March 28, 2024
Residential
Workforce
Low Strength
Overlying Waste Rock
Hydro Power & Fresh
Water
Sealed State Highway
Number 8
Low Reagent
Costs
• No camps
• No flights
• No air strip
• No catering
• Within 7km of pit
• 20min from Cromwell
• No major access road
construction
• Low CN consumption
• Low lime consumption
• Abundant energy
• US$0.08/kWh
1
(Macraes
cost)
• Plenty of fresh water
• Powered by renewables
• 20Mpa rock strength
• Low powder factor
(<0.5kg/t)
• US$1.15/t
1

waste mining
(Macraes cost)

Fast-track Approvals Bill
A bill aimed at fast tracking the approvals processes for
projects of economic significance:
•A one-stop shop of over-arching legislation resolving
complexity and delays from separate regulatory
approvals
•Efficient Decision Making
•Not a short-cut on the environmental protection
measures.
•Preservation of the existing Acts
•Upholds the standards expected for mine approval
including consultation.
Bill expected to be passed
before year end.

Next Steps
Progress
Study Activity
CompletedHeritage surveys
CompletedSocio-economic baseline study
CompletedEcology fieldwork
CompletedRecreational baseline study
CompletedAnnual baseline water quality report
OngoingAdditional environmentalstudies
OngoingMine planning and engineering
OngoingDrilling at satellitedeposits
To DateDecember QuarterQ1 CY2025
Activity
Finish PFS
Engage financiers
Fast Track ApprovalsBill -Vote
Activity
Apply for project consents
6 months under Fast Track Bill
12-14 month build time
PATHWAY TO
CONSTRUCTION

Thank you

Appendix 1: Mineral Resource Estimate
February 2023
1.TheJuly2024RASMineralResourceEstimates(MRE)isbasedonworkcompletedbyMrKerrinAllwood,aCompetentPerson(CP)whoisaMemberofTheAustralasianInstituteofMiningandMetallurgy(AusIMM).MrAllwoodisaPrincipalGeologist
ofGeoModellingLimited,Petone,NewZealandandhassufficientexperiencewhichisrelevanttothestyleofmineralisationandtypeofdepositunderconsiderationandtotheactivitywhichisbeingundertakentoqualifyasaCompetentPersonas
definedinthe2012Editionofthe“AustralasianCodeforReportingofExplorationResults,MineralResourcesandOreReserves”.RefertoASXannouncementon16February2024forfurtherdetail.
2.Theinformationinthisreportthatrelatestoprior2021MineralResourceEstimates(2021MRE)forCIT,SRXandSREdepositscompletedbyMsMichelleWild(CP)continuetoapplyandhavenotmateriallychanged.RefertoASXannouncementon28
September2021forfurtherdetail.
Contained
Gold (koz)
Au grade
(g/t)
tonnes (Mt)CategoryDeposit
1,4452.419.1
Indicated
RAS
1
7722.111.4
Inferred
2,2172.330.6
Indicated and InferredRAS Total
591.51.2
InferredCIT
2
1741.14.7
InferredSRX
2
111.30.3
InferredSRE
2
1,4452.419.1
Indicated
RSSZ Total
1,0181.817.6
Inferred
2,4632.136.8
Indicated and
Inferred
RSSZ Total

Appendix 2: Corporate Snapshot
Major Shareholders
6.8%Regal Funds
6.4%Frederick (Kim) Bunting
7.7%Board & Management
39%NZ Registered Holders
Capital Structure (6
th
Sep 2024) ASX:SMI NZX:SMI
A$401.5 million
(US$267.7 million
Market Capitalisation(at A$1.92/share)
209.1 millionFully Paid Ordinary Shares
33.1 millionOptions (unlisted) A$1.08 on 28 Feb 2025
4.1 millionEmployee Opt’s& Perf. Rights (various)
~A$30 million
(US$20 million)
Net Cash
NilNet Debt
Peter Cook
Non-Exec Chair
Damian Spring
CEO & Exec Director
Kim Bunting
Non-Exec Director
Sam Smith
Exec Director, IR/Corporate
Board & Management
Craig McPherson
CFO & Co-Sec