MGX Resources (MGX) Investor presentation summary

Strategic transition and business overview

• Transitioning from iron ore mining to gold production, leveraging experience as a mid-tier miner with remote site operations.

• Maintains substantial cash and investment reserves, with no bank borrowings.

• Koolan Island iron ore mine nearing completion, with over 40 Mwmt shipped since 2007.

• Acquired a 50% interest in the Central Tanami Gold Project, marking a strategic pivot to gold.

• Holds a portfolio of junior company investments supporting the shift to precious and base metals.

Koolan Island iron ore operations and rehabilitation

• Main Pit mining suspended in October 2025 due to a rockfall; focus shifted to monetizing low-grade stockpiles.

• Low-grade iron ore sales are funding site rehabilitation, with 0.5 Mwmt sold in H2 2025 and 1 Mwmt targeted for H1 2026.

• Rehabilitation earthworks are on track for completion by mid-2026, with provisions reduced by $11 million to $48 million.

• Discussions ongoing for potential post-mining uses of infrastructure and transfer of rehabilitation obligations.

Central Tanami Gold Project JV highlights

• 50/50 joint venture with Tanami Gold NL; MGX completed its 50% acquisition in February 2026 for $50 million.

• JORC 2012 Mineral Resources: 31 Mt at 2.8 g/t Au for 2.8 Moz, including 11 Mt at 3.3 g/t Au for 1.2 Moz at Groundrush.

• Over 50 known gold deposits and 2 Moz of past production; initial focus on Groundrush, Ripcord, and Jims deposits.

• Existing 1.2 Mtpa CIL plant requires refurbishment or upgrade to 1.5 Mtpa; significant supporting infrastructure in place.

• Acquisition price equates to $36/oz, representing strong value versus comparable transactions.