Golden Horse Minerals (GHM) Investor presentation summary

Investment highlights

• Holds over 1,800km² in the underexplored Southern Cross Greenstone Belt, with thick, high-grade gold assays and a granted mining license with infrastructure access.

• Recent drilling at Hopes Hill confirms a large mineralized system, with multiple targets set for resource definition drilling.

• Board and management have a strong track record, supported by a major ASX-listed gold producer holding a significant stake.

• Mobilizing a third drill rig to accelerate exploration and maintain strong newsflow.

Corporate overview and capital structure

• Share price at A$0.42 with a market capitalization of A$74M and 175M shares/CDIs on issue.

• Recent capital raising of A$15M via a two-tranche placement at A$0.40 per CDI, with Tranche 1 completed and Tranche 2 pending shareholder approval.

• Major shareholders include Emerald Resources (20.2%), institutional/family office investors (27.3%), and board/management (3.3%).

Project portfolio and exploration results

• Largest landholder in the region, with over 12Moz gold historically produced from the greenstone formation.

• Flagship Hopes Hill project features a 1.3km open pit, historic production of 2.9Mt at 2.25g/t for 216,000 oz, and broad, high-grade mineralization open in all directions.

• Over 14,000m of drilling completed since Jan 2025, with standout intercepts such as 83m @ 2.5g/t Au and 43m @ 4.5g/t Au.

• Strong continuity of mineralization across Hopes Hill, with three main zones showing significant intercepts at depth and along strike.

• Metallurgical recoveries average 96.7%, demonstrating ore amenability to processing and compatibility with nearby mills.