Marimaca Copper (MARI) Corporate presentation summary

Project overview and development status

• Marimaca is a large-scale copper project in Chile, advancing toward a construction decision with a Definitive Feasibility Study (DFS) underway and targeted for release in Q2 2024.

• The project features a simple, low strip ratio, open pit operation with rapid progress toward permitting and low execution risk due to proximity to infrastructure.

• Water supply is de-risked through a secured, permitted recycled seawater pipeline from Mejillones, eliminating the need for continental or fresh water.

• The project is located in a Tier 1 mining jurisdiction, close to ports, power, highways, and a skilled workforce, reducing operational risks.

• Marimaca is positioned as a 'green copper' project, with low carbon intensity and access to renewable power.

Mineral resources and exploration potential

• The 2023 Mineral Resource Estimate (MRE) reports 899.7 Mt Measured & Indicated at 0.45% Cu and 141.3 Mt Inferred at 0.38% Cu, with 86% of resources in M&I categories.

• Resource growth has been consistent, with significant increases in both M&I and Inferred categories over successive drilling campaigns.

• The deposit features favorable geometry for open pit mining, with high-grade zones accessible from surface and a low strip ratio.

• Extensive metallurgical testing supports robust heap leach recoveries and low acid consumption, underpinning DFS assumptions.

• Exploration continues both near-mine and district-wide, targeting additional oxide and sulphide resources, with new resource estimates for satellite deposits expected in 2025.

Processing, infrastructure, and sustainability

• Processing will use a simple SX-EW flowsheet, leveraging recycled seawater and proximity to all major consumables and utilities.

• The project benefits from access to port, power, water, and transport within 25-40 km, minimizing infrastructure costs and execution risk.

• Heap leaching is 38% less carbon intensive than traditional processing, supporting strong ESG credentials.

• No community land overlap and limited environmental impact are expected due to the Atacama Desert location.

• Sustainability commitments include local employment, environmental stewardship, and transparent governance.