MGX Resources (MGX) Investor presentation summary

Project overview

• Central Tanami Project is a 50:50 joint venture between MGX Resources Ltd and Tanami Gold NL, covering 2,108 km² with 52 known gold deposits and a proven production history of around 2Moz since the 1980s.

• The project is advancing towards production, leveraging existing infrastructure including a 1.2Mtpa CIL mill, camp, airstrip, and haul roads.

• The current Mineral Resource Estimate (MRE) stands at 31Mt at 2.8g/t for 2.8Moz of gold, with the Groundrush deposit alone containing 1.2Moz at 3.3g/t.

• Major deposits include Groundrush, Hurricane/Repulse, Carbine, Jims, and Ripcord, most located within 40km of the mill.

• The joint venture is well-funded, with MGX holding $497M and Tanami Gold NL holding $28M in cash/investments as of December 2025, and no bank debt.

Resource and exploration highlights

• The 2025 MRE update increased total resources to 2.8Moz, with resources reported in accordance with JORC 2012 and using a gold price of A$3,500/oz.

• Drilling in FY25 & FY26 delivered 42,907m of exploration, yielding significant high-grade intercepts at Groundrush, Ripcord, Jims, and other targets.

• Resource definition drilling is focused on free milling assets (Groundrush, Ripcord, Jims), with ongoing near-mine and greenfields exploration.

• Groundrush and Ripcord are free milling, with recoveries of 94% and 89% respectively, and remain open for further resource expansion.

• Semi-refractory deposits (e.g., Hurricane, Carbine) are being evaluated for concentrate production, with additional operating costs and export considered.

Development and operational plans

• A Groundrush exploration decline is planned to convert 430koz of Inferred to Indicated Resources, involving 3.4km of lateral development and 33,000m of underground drilling, targeting a mid-2026 start pending JV approval.

• Ongoing studies include mine optimisation, design, scheduling, metallurgical and geotechnical testwork, and updates to environmental and government approvals.

• The existing CIL mill is proposed for refurbishment and upgrade to 1.5Mtpa capacity, with engineering studies and construction planning underway.

• Camp facilities are being upgraded, with 72 rooms operating and 64 additional rooms available for refurbishment.

• The project aims to leverage existing infrastructure and regional proximity to world-class gold operations for future growth.