Investor Presentation - Resource Rising Stars

Brownfields Exploration
in New Zealand’s Hauraki
& Otago Goldfields
Minerals Exploration Limited ASX:MEX | NZX:MEX
Resources Rising Stars – SEPTEMBER 2026

Minerals Exploration Limited ASX:MEX | NZX:MEX
Disclaimer
Nature of Document
The purpose of this presentation is to provide general information about
Minerals Exploration Limited (ABN 85 650 124 324) (MEX) which is current
as at the date released unless otherwise specified. It is information in a
summary form and does not purport to be complete. The information in this
presentation should be read in conjunction with MEX ’s other
announcements lodged with the ASX.
No Advice or Offer
This presentation is presented for informational purposes only. It does not
constitute an offer, invitation, solicitation or recommendation or advice with
respect to the issue, purchase, or sale of any securities or other financial
products in MEX . It is not intended to be, and is not, a prospectus, product
disclosure statement, offering memorandum or private placement
memorandum for the purpose of Chapter 6D of the Corporations Act 2001.
It is not recommended that any person makes any investment decision in
relation to MEX based solely on this presentation. This presentation does
not necessarily contain all information which may be material to the making
of such a decision. Any investor should make its own
independent assessment and determination as to MEX ’s prospects prior to
making any investment decision and should not rely on the information in
this presentation for that purpose. This presentation does not constitute an
offer to sell, or the solicitation of an offer to buy, any securities in the
United States or to any “US person” (as defined in Regulation S under the
US Securities Act of 1933, as amended (Securities Act)) (US Person).
Securities may not be offered or sold in the United States or to US Persons
absent registration or an exemption from registration. MEX ’s shares have
not been, and will not be, registered under the Securities Act or the
securities laws of any state or jurisdiction of the United States. This
presentation is not for distribution directly or indirectly in or into the United
States or to US Persons.
Except for statutory liability which cannot be excluded, MEX as well as its
officers, employees and advisers expressly disclaim any responsibility for
adequacy, accuracy, reasonableness or completeness of the material
contained in this presentation and exclude all liability whatsoever (including
in negligence) for any loss or damage which may be suffered by any person
as a consequence of any information in this presentation or any error or
omission therefrom. MEX accepts no responsibility to update any person
regarding any inaccuracy, omission or change in information in this
presentation or any other information made available to a person nor any
obligation to furnish any person with any further information.
Disclaimer/Forward Looking Information
This presentation contains certain forward-looking statements, guidance,
forecasts, estimates, prospects and projections in relation to future matters
that may involve risks or uncertainties and may involve significant items of
subjective judgement and assumptions of future events, which as at the
date of this presentation are considered reasonable, but that may or may
not eventuate (Forward Looking Statements). Forward Looking Statements
can generally be identified by the use of forward-looking words such as,
‘anticipate’, ‘estimates’ ‘will’, ‘should’, ‘could’, ‘may’, ‘expects’, ‘plans’,
‘forecast’, ‘target’ or similar expressions and may include, without limitation,
statements regarding plans, strategies and objectives of management,
anticipated production and expected costs. Indications of, and guidance on
future earnings, cash flows, costs, financial position and performance are
also Forward-Looking Statements.
Persons reading this presentation are cautioned that such statements are
only predictions, and that actual future results or performance may be
materially different. Forward Looking Statements, opinions and estimates
included in this presentation are based on assumptions and contingencies
which are subject to change, without notice, as are statements about
market and industry trends, which are based on interpretation of current
market conditions. Forward Looking Statements are provided as a general
guide only and should not be relied on as a guarantee of future
performance.
Forward Looking Statements are subject to known and unknown risks,
uncertainties and other factors that may cause the Company’s actual
results, level of activity, performance or achievements to be materially
different from those expressed or implied by such forward looking
information. No representation or warranty, express or implied, is made by
MEX that any Forward-Looking Statement will be achieved or proved to be
correct. Further, MEX disclaims any intent or obligations to update or revise
any Forward-Looking Statements whether as a result of new information,
estimates or options, future events or results or otherwise, unless required
to do so by law.
This presentation contains information relating to exploration results and
mineral resources reported by third parties in respect of projects located in
proximity to the Company’s tenements. Such information is provided for
illustrative purposes only and should not be interpreted as an indication
that similar results will be achieved on the Company’s tenements. The
Company has no interest in the neighbouring projects referred to and has
not independently verified the accuracy, reliability or completeness of the
third-party information. Mineralisation on projects in proximity to the
Company’s tenements is not necessarily indicative of mineralisation within
the Company’s own holdings.
JORC 2012 Competent Persons Statement
The information in this Report that relates to Exploration Results is based
on information compiled by Mr Peter Zitnan, who is a Member of the
Australian Institute of Geoscientists. Mr Zitnan, who is Director of Otagold
Limited, has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which he is undertaking 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’. Mr Zitnan consents to the inclusion in
this Report of the matters based on the information in the form and
context in which it appears.
The information in this presentation that relates to Exploration Results is
extracted from the ASX announcements dated:
10 August 2026 - Glenorchy rock chip assays deliver high-grade results
23 June 2026 - Waitekauri - First Phase Drilling and High Grade Rock Chips
12 February 2026 - First Scotia Drilling Defines Large Gold System
4 November 2025 - High Grade Rock Chip Assays Confirm Major Gold
Potential
13 October 2025 - Drilling Commenced at Waitekauri Gold Project
1 September 2025 - Waitekauri drilling set to commence
27 June 2025 - High Grade Rock Chips at flagship Waitekauri Gold Project
19 May 2025 - Transformational NZ Gold Projects Acquisition
which are available at www.mineralsexploration.com.au. MEX confirms that
it is not aware of any new information or data that materially affects the
information included in the original announcements and that all material
assumptions and technical parameters underpinning the Exploration Results
in the original announcements continue to apply and have not materially
changed. MEX confirms that the form and context in which the Competent
Persons’ findings are presented have not been materially modified from the
original announcements.
2

Minerals Exploration Limited ASX:MEX | NZX:MEX
3
Corporate Snapshot
Shares on Issue
191m
Cash $A
1
~2.8m
Enterprise Value $A
2
8.5m
Options
3
/
Performance Rights
4
15.7m
1
As at 30 June 2026
2
As at 7 September 2026, based off a share price of 5.9c
3
Includes unlisted options expiring at various dates, all are exercisable at 20c or 30c
4
Total includes: 950,000 Class B performance rights, 2,500,000 Consideration performance
rights, 1,250,000 Director Incentive performance rights
0
0.5
1
1.5
2
2.5
3
0
0.05
0.1
0.15
0.2
0.25
0.3
Millions
Share price (A$)
VolumeShare price

Minerals Exploration Limited ASX:MEX | NZX:MEX
4
Experienced Board & Management
Norman Seckold
Chairman
Mr Seckold is an experienced mining
executive who has spent more than
40 years in the full-time management
of natural resource companies, both in
Australia and overseas. He is currently
Executive Chair of Nickel Industries
(ASX:NIC), Alpha HPA (ASX: A4N).
Brett Mitchell
Executive Director
Mr Mitchell is an experienced
corporate finance executive with over
25 years of experience in venture
capital and equity capital markets,
leading transactions in the mining,
energy and life sciences sectors. He is
currently Executive Chair of Javelin
Minerals (ASX:JAV).
Alex Passmore
Non-Executive Director
Mr Passmore is a qualified geologist
and experienced corporate executive
having led many project acquisitions,
divestments and fund raisings in the
junior and mid cap resources sector
over the past 20 years.He is currently
Managing Director of New Murchison
Gold (ASX: NMG).
Jason Beckton
Non-Executive Director
Mr Beckton has been working as a
geologist for 30 years. He has
extensive experience in the
Australian gold industry, including in
management roles. He is currently
Managing Director of European
Resources Ltd (ASX: ERE) and Non-
Executive Director of American Rare
Earths (ASX: ARR) and Cipango
Japan (unlisted).
Peter Zitnan
NZ Based CEO / Chief Geologist
Mr Zitnan is a geologist with 20
years’ experience in exploration for
porphyries and epithermal gold
deposits around the world. He was
involved in discovery of +1Moz Au
porphyry deposit (Biely Vrch) in
Slovakia and has 5 years production
experience from the Rozalia gold
mine in Slovakia.
Mr McDonald has practiced law for
more than 25 years and overlapped
legal, corporate secretarial and non-
executive director roles along with
management roles in the mineral
resources sector. This included as
Managing Director of Cerro Resources
and Santana Minerals Limited from 2013
to 2019 and then as non-executive
Director until retired in 2024.
Tony McDonald
Non-Executive Director

Minerals Exploration Limited ASX:MEX | NZX:MEX
5
Waitekauri –
Tier 1 Brownfields
Gold Project
World Class Hauraki Goldfield

Minerals Exploration Limited ASX:MEX | NZX:MEX
•MEX owns 100% of four brownfields NZ gold exploration
projects in the North (epithermal) and South (orogenic)
Island gold belts
•Flagship asset is Waitekauri Epithermal Gold Project – only
8km west of OceanaGold Corporation’s (OGC) Waihi gold
mine (+12Moz Au), and 4.5km southwest from OGC’s WKP
(2.2Moz Au @ 14.3g/t) discovery
•Waitekauri is within the Hauraki Goldfield, sits in a NE/SW
heavily mineralised Au belt hosting three other +1Moz Au,
high grade epithermal deposits
•Waitekauri historical production ~29koz at 48g/t Au+Ag
(bullion)
•South Island Orogenic gold+/- tungsten projects –
Invincible and Oturehua – Oturehua is only 20km from
Santana’s 2.2Moz Bendigo-Ophir and 50km from OGC’s
Macraes mine
•Led by highly successful mining executive Norm Seckold as
the largest MEX shareholder and Chairman
Waitekauri Gold Project
Compelling Brownfields Gold Opportunity
6

Minerals Exploration Limited ASX:MEX | NZX:MEX
•Waitekauricomprises58km
2
of highly prospective
ground inthe rich Hauraki Goldfield – over 160 years
of gold production, 50 epithermal mines
•Historical production from Hauraki Goldfields of
+15Moz Au and 60Moz Ag
•Located adjacent to four +1Moz Au-Ag deposits
(Waihi, WKP, Golden Cross, Karangahake),
•Set on the NE/SW mineralised trend of three +1Moz
Au-Ag deposits – WKP, Golden Cross,Karangahake
•Waihi has well established mining infrastructure and
skilled workforce
•Waitekauri has threehigh-priority gold prospects
being Jubilee, Scotia, Sovereign
Waitekauri Gold Project Overview
Multi-million-ounce opportunity in world-class goldfield
OVERVIEW
7

Minerals Exploration Limited ASX:MEX | NZX:MEX
Waitekauri Exploration to Date
8
•2,600m drilling completed at Scotia and Jubilee
prospects – Phase 1 completed
•1,500 rock and soil geochemical samples
collected
•Aero mag drone survey completed over central
Waitekauri valley – analysis underway
•Best intercept to date - 71 m @ 0.52g/t Au incl.
3.5m @ 5g/t Au from Scotia (TGW002A)
•TGW008 – 27.7m @ 0.08g/t Au and 21.5g/t Ag
from 184.1m, including 0.36% Pb, 0.2% Zn and
0.1% Cu from NW-SE to E-W trending structure
at Jubilee
TGW008 – low grade wide qtz + base metal sulphide vein zone
Refer to MEX:ASX 12 February 2026 and 23 June 2026

Minerals Exploration Limited ASX:MEX | NZX:MEX
High-grade Rock Chips — Jubilee North
9
Jubilee North –362 g/t Au
Jubilee North –230 g/t Au
•Near aeromag low-high boundary, never drill tested
Refer to MEX:ASX 23 June 2026

Minerals Exploration Limited ASX:MEX | NZX:MEX
Sovereign — 2,273 g/t Au Float
10
Visible Au
Visible Au
Refer to MEX:ASX 23 June 2026

Minerals Exploration Limited ASX:MEX | NZX:MEX
Drilling at Jubilee
Drilling as close as
possible to Bonanza
style Au-Ag low
sulphidation shoots
within structures
hosting vein zones
11

Minerals Exploration Limited ASX:MEX | NZX:MEX
12
South Island Orogenic Au
Brownfields Exploration
Portfolio
Otago Goldfields
Glenorchy Tungsten

Minerals Exploration Limited ASX:MEX | NZX:MEX
South Island Gold/Tungsten Portfolio
13
•Invincible: historic high-grade gold mine; newly
identified scheelite mineralisation
•Glenorchy: proven tungsten-gold field with multiple
historic lodes, channel samples and historical drilling
results
•Oturehua: permitted, privately held farmland setting
around the historic Golden Progress Mine
Current exploration work has focused on establishing
drill targets, verifying historic results and converting
historical data into modern exploration programs
Brownfields projects with clear near-term catalysts

Minerals Exploration Limited ASX:MEX | NZX:MEX
Invincible Gold Project
14
Historic gold-tungsten field with multiple brownfields targets
OVERVIEW
•Invincible Gold Project, 164 km
2
prospecting permit, targeting
similar style mineralization as Macraes (OGC) and Bendigo-
Ophir (SMI) – gold/tungsten bearing veins
•Historic Invincible Gold Mine - The gold/tungsten veins
produced at an average grade of 30g/t Au in production from
the 1880’s – 1910’s
•No modern exploration has systematically tested the
relationship between gold and tungsten mineralisation
across the Glenorchy field.
•Multiple shallow-dipping, repeated mineralised structures
provide clear targets for follow-up drilling.

Minerals Exploration Limited ASX:MEX | NZX:MEX
Invincible Project Historic Tungsten Glenorchy
15
OVERVIEW
Refer to MEX:ASX 10 August 2026
•The Glenorchy scheelite field contains more than 60
quartz ±scheelite ±gold fault-veins
•The largest scheelite-producing field in New Zealand
•Historical sources compiledapproximately 2,200 tons of
scheelite concentrate at about 70% WO₃
•Selective grab samples from the historic State Mine
mullock returned up to 37.4 g/t Au and 1.82% W, and
2.63% W from Davidsons Mine
Image: Davidsons Mine,
Scheelite under UV light

Minerals Exploration Limited ASX:MEX | NZX:MEX
•32.4km
2
exploration permit,
located on privately owned
farmland
Golden Progress Gold Mine:
•Historical production
estimated at 15-20koz @
48.8g/t Au
•~30km South-Eastfrom
Santana Minerals (ASX-SMI)
2.2Moz @ 2.3g/t Au
Bendigo-Ophir deposit
•~40km North-Westfrom
OCG’s Macraes>10Moz gold
producer
•Mapping underway ahead of
first drill program planning
Oturehua Gold Project – Golden Progress Mine
OVERVIEW
Headframe at Oturehua’s
Golden Progress Mine
16

Minerals Exploration Limited ASX:MEX | NZX:MEX
17
MEX Investment Summary
Highly compelling gold
exploration assets in a
Tier-1 location, within
historic gold fields
Brownfields Au
Exploration Focus
– Waitekauri,
Oturehua and
Invincible, all
historic gold mines
Led by Norm Seckold,
outstanding ASX track
record of mineral
exploration and mining
project development
(NIC, A4N, SMI)
Flagship Waitekauri
exploration project
- located within major
Au mineralised system,
in same structural
corridor as WKP
Ongoing news pipeline
with exploration activity
through 2026/27
– Waitekauri on North
Island, Invincible and
Oturehua on South
Island
Highly leveraged to
exploration success
- Enterprise Value
of ~$8.5m
(@ 5.9c/share)
2
1
As at 30 June 2026
2
As at 7 September 2026
Waitekauri has potential
to host major Au
deposits, as shown by
the four +1Moz deposits-
Waihi, WKP, Golden Cross
and Karangahake
Glenorchy Historic
Tungsten Project –
largest historic
producing scheelite field
in NZ

Minerals Exploration Limited ASX:MEX | NZX:MEX
18
3 Richardson Street
West Perth WA 6005
+61 8 6319 1900
admin@mineralsexploration.com.au
mineralsexploration.com.au
FOR ENQUIRIES CONTACT:
Brett Mitchell
Executive Director
+61 8 6319 1900
bmitchell@mineralsexploration.com.au