Corporate Presentation
Released
Released
Announcement PDF
February 2026
Developing the
next Copper-Gold
Mine in the
Philippines
ASX/AIM: CLA
CORPORATE
PRESENTATION
Celsius Resources - Corporate PresentationFebruary 2026
DISCLAIMER & NOTES
This presentation has been prepared by Celsius Resources Limited ("Celsius" "CLA", or "the Company“) and has been
authorised for release by the Board of Directors of Celsius on the basis it is to be read in conjunction with these important
notices and disclaimers. The information contained in this presentation is a professional opinion only and is given in good
faith.
All reasonable care has been taken to ensure that the facts stated in these presentation materials are accurate and that any
forecasts, opinions and expectations contained therein are fair and reasonable. Accordingly, no representation or warranty
express or impliedis made to the fairness, accuracy, completeness or correctness of these materials or opinions contained
therein and each recipient of these presentation materials must make its own investigation and assessment of the matters
contained therein. In particular, but without prejudice to the generality of the foregoing, no representation or warranty is
given, and no responsibility or liability for any expenses, losses, damagesor costs incurred by any party is accepted by the
Company or any of its representatives, related bodies corporate, directors, employees, advisers and agents, as to the
achievement or reasonableness of any future projections or the assumption underlying them, or any forecasts, estimates,
or statements as to prospects contained or referred to in these presentation materials. This presentation is not a
prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for
information purposes and is not an invitation nor offer of shares or recommendation for subscription, purchase or sale in
any jurisdiction. This presentation does not purport to contain all the information that a prospective investor may require in
connection with any potential investment in Celsius. Each recipient must make its own independent assessment of Celsius
before makingan investment decision.
Forward Looking Statement
Certain statements contained in this presentation, includinginformation as to the future financial or operating performance
of Celsius and its projects, are forward-looking statements. Such forward-lookingstatements are necessarily based on a
number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to
significant technical, business, economic, competitive, political and social uncertainties and contingencies, involve known
and unknown risksand uncertainties that could cause actual events or results to differ materially from estimated or
anticipated events or results reflected in such forward-looking statements, and may include, among other things,
statements regardingtargets, estimates and assumptions in respect of commodity prices, operating costs and results,
capital expenditures, ore reserves and mineral resources and anticipated grades and recovery rates and are, or may be,
based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.
The Company disclaimsany intent or obligation to update publicly any forward-looking statements, whether as a result of
new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’,
‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and other, similarexpressions identify
forward-looking statements. All forward-looking statements made in this presentation are qualifiedby the foregoing
cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance
and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent
uncertainty therein and particularly in light of the current economic climate. Many known and unknown factors could cause
actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking
statements. Such factors include, but are not limited to: competition; mineral prices; ability to meet additional funding
requirements; exploration, development and operating risks; uninsurable risks; uncertainties inherent in ore reserve and
resource estimates; factors associated with foreign operations and related regulatory risks; environmental regulation and
liability; currency risks; effects of inflation on results of operations; factors relating to title to properties; dependence on key
personnel, and share-price volatility. They also include unanticipated and unusualevents, many of which it is beyond the
Company’s ability to control or predict. Photographs in this presentation may not depict assets of the Company.
Except as required by law or regulation (includingthe ASX Listing Rules), none of Celsius and its representatives or advisers
undertakes any obligation to provide any additional or updated information whether as a result of a change in expectations
or assumptions, new information, future events, or results or otherwise. Indications of, and guidance or outlook on future
financial position or performance are also forward-looking statements.
In the United Kingdom, these presentation materials have not been approved by an authorised person pursuant to section
21 of the Financial Services and Markets Act 2000 (the "FSMA") and, accordingly, these presentation materials are only
directed at persons in the United Kingdom who fall within the exemptions contained in Articles 19 and 49 of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (such as persons who are authorised or exempt persons
within the meaning of the FSMA and certain other investment professionals, high net worth companies, unincorporated
associations or partnerships and the trustees of high value trusts) and persons who are otherwise permitted by law to
receive them. These presentation materials are directed only at persons having professional experience in matters relating
to investments and any investment or investment activity to which these presentation materials relate and is only available
to such persons. Persons of any other description, including those who do not have professional experience in matters
relating to investments, should not rely on these presentation materials or act upon their content. These presentation
materials have not been approved by the Financial Conduct Authority (the "FCA") as a prospectus for the purposes of
section 87A of the FSMA and have not been filed with the FCA pursuant to the United Kingdom Prospectus Rules. The
distribution of these presentation materials in other jurisdictionsmay be restricted by law, and persons into whose
possession these presentation materials come should inform themselves about, and observe, any such restrictions. Any
failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.
All amounts in AUD unless stated otherwise.
Compliance and CompetentPerson Statements
This presentation contains estimates of Celsius’ Mineral Resources, Ore Reserves and production targets and forecast
financial information derived from those. The information in this presentation that relates to Mineral Resources, Ore
Reserves and production targets and forecast financial information has been extracted from ASX announcements dated 24
November 2025, 12 December 2025 and 23 January 2026. Celsiusconfirms that it is not aware of any new information or
data that materially affects the information included in these announcements. All material assumptionsand technical
parameters underpinning the Mineral Resources, Ore Reserves and production targets and forecast financial information in
these ASX announcements continue to apply and have not materially changed. The form and context in which the relevant
Competent Person’s findingsare presented in these announcements have not been materially modifiedfrom the original
documents.
The information in this presentation with respect to the outcomes of the Definitive Feasibility for the MCB Project was
announced by Celsius to ASX on 23 January 2026. Celsiusconfirms that all material assumptions underpinning the
production target and forecast financial information derived from the production target referred to in the announcement of
23 January 2026 continue to apply and have not materially changed.
The information in this presentation with respect to the Mineral Resource Estimate for the Sagay Project was first
announced by Celsius to the ASX on 6 February 2024. Celsius confirms that it is not aware of any new information or data
that materially affects the information included in the announcement and that all material assumptions and technical
parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed. Celsius
confirms that the form and context in which the Competent Person’s findingsare presented have not been materially
modifiedfrom the original market announcement.
The information is this presentation with respect to the Mineral Resource Estimate for the Opuwo Project was first
announced by Celsius to ASX on 1 July 2021. Celsiusconfirms that it is not aware of any new information or data that
materially affects the information included in the announcement and that all material assumptions and technical
parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed. Celsius
confirms that the form and context in which the Competent Person’s findingsare presented have not been materially
modifiedfrom the original market announcement.
2
CORPORATE
01
Celsius Resources - Corporate PresentationFebruary 2026
Capitalisation Summary
Corporate Overview
Celsius Resources is focused on developing its flagship MCB Copper-Gold Project in the Philippines
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Trading
Volume
(Million
Shares)
Share
Price
(A$
/
Share)
Units Amount
Share Price @ 30 Jan $ Per Share $0.02
Shares Outstanding 2 Million Shares 3,241.5
Market Capitalisation A$M 64.8
(+) Debt 1 A$M 11.0
(-) Cash1 A$M (2.2)
Enterprise Value A$M 73.6
AIM Depositary Interests, 8.9%
Silvercorp, 9.8%
Board Members,
2.0%
Others (ASX Shareholders), 79.3%
CLA Share Price
Shareholding Summary2
Note:
1) Cash and Debt Balances are as at 31 December 2025. ~A$1.17M of the reported cash balance is held by MMCI.
2) As at 30 January 2026.
Celsius Resources - Corporate PresentationFebruary 2026
Board and Management
5
Kellie Davis
Company Secretary
Patrique Jane Duran
Chief Operations Officer – Philippines
• Over 20 years of experience in accounting and ASX
Compliance, predominantly in the resources sector
• Previous experience as an audit, accounting and
company secretarial services with EY and several
ASX listed companies
• Licensed Mining Engineer and Accredited
Competent Person in Mining, with more than a
decade of experience in both government and
private sectors, holding key leadership roles in the
mining industry
• Expertise in mine planning, contracts management,
risk assessment, project scheduling, and budgeting
Neil Grimes
Executive Director
Peter Hume
Non-Executive Director
Mark van Kerkwijk
Non-Executive Director
Paul Dudley
Non-Executive Director
• Over 30 years of experience in
business management, project
development and management in
Australia and Southeast Asia
• Previously with WMC Resources,
Oxiana Limited, OZ Minerals, MMG
Ltd and Indophil Resources
• Over 40 years of experience on
major mining and construction
development projects in Australia
and internationally
• Previously assignments with
Porgera JV, Xstrata Copper, Xstrata
Coal, Anglo Coal, Glencore,
Newmont Mining Corporation, BMA
Coal, Kaltim Prima Coal and Dyno
Nobel
• Extensive experience as a
substantial private investor in the
resources sector
• Technologist and security risk
management professional with a
diverse background spanning
defence, agriculture, construction,
compliance and financial services
• Over 25 years of experience, working
across Natural Resources,
Corporate Finance, Regulatory and
Financial Services
• Fellow of the Chartered Institute of
Accountants of England and Wales
and a Member of the UK’s Chartered
Institute of Securities and
Investment
Credentialed Board and management team to drive Celsius into near-term Cu and Au production
Celsius Resources - Corporate PresentationFebruary 2026
Portfolio Overview
6
Flagship MCB Project is complemented by an extensive exploration footprint in the Philippines
Sagay Project
Botilao Project MCB Project
• Sagay Copper Project covers a tenement area of ~1,780
hectares in the Negros Occidental in the South Philippines
• Exploration since 2008 has discovered
─ large-scale deep porphyry copper-gold mineralisation
─ shallow, secondary supergene deposit west of the
main porphyry deposit
• Combined Measured, Indicated and Inferred Mineral
resource of 312Mt @ 0.39% Cu and 0.11 g/t Au (0.5Mt as
Measured, 22Mt as Indicated and 290Mt as Inferred)
• Copper mineralisation is open in multiple directions, with
further shallow targets untested
• Exploration and permitting activity has been deferred to
allow focus on development of the MCB Project
• Flagship project, targeting FID in Q2 2026
• Large-scale resource base of 343 Mt @ 0.46% Cu and
0.12 g/t Au (49Mt as Measured, 248Mt as Indicated, and
45Mt as Inferred)
• Reserve of 130.2 Mt @ 0.66% Cu and 0.21 g/t Au, for 856
kt contained copper and 891 koz contained gold at a
0.84% CuEq grade
• DFS released in January 2026 (refer overleaf for further
detail)
MCB Copper-Gold Project
Sagay Copper-Gold Project
• ~947 hectares, southwest and adjacent to the MCB
Project
• Exploration permit renewed Jan 2026 – 2 years
• Drilling conducted under previous ownership
confirmed presence of copper-gold mineralisation in
the area with copper grades up to ~1%
Botilao Copper-Gold Prospect
Opuwo Cobalt-Copper Project,
Namibia
• 95% interest in the highly
prospective Opuwo Cobalt Project
in northern Namibia
• 226 Mt @ 0.12% Co, 0.43% Cu and
0.54% Zn
• Project currently in a sale process
Other Assets
Refer to ASX Announcements dated 01 July 2021, 07 November 2022, 24 November 2025, 12 December 2025, 23 January 2026 and 5 February 2026
Celsius Resources - Corporate PresentationFebruary 2026
Maalinao-Caigutan-Biyog (MCB) Project
7
• Celsius’ flagship copper-gold development project, held through its Philippine
affiliate, Makilala Mining Company, Inc. (“MMCI”)
• Located ~320 km north of Manila, in Barangay Balatoc, Municipality of Pasil,
Province of Kalinga, Philippines, and covers ~2,500 hectares
• Large-scale porphyry copper-gold system with a high-grade, sub-vertical core
• Maiden Ore Reserve of 130.2 Mt @ 0.66% Cu and 0.21 g/t Au, for 856 kt
contained copper and 891 koz contained gold at a 0.84% CuEq grade
• Extensive drilling history, comprising 64 diamond drill holes (31,616 m)
completed from 2006 to 2025
• Mining Permit (MPSA) granted in March 2024 and subsequently confirmed in
April 2025, with an Initial 25-year mine life, with the right to renew for a further
25 years
• Strong government and local community support with regulatory and
community approvals secured
• Financing underway – Grant Samuel appointed as Financial Adviser in
January 2026; bridge financing from Maharlika Investment Corporation (MIC),
Philippines Sovereign Wealth Fund, approved in May 2025
• FEED program complete locking in early works equipment and costs
• FID and early works construction targeted to commence in Q2 2026
DFS marks a significant de-risking event in progressing the MCB Project toward FID and construction
Gold occurrences
Copper occurrences
Manila
✓
Declaration of Mining
Project Feasibility (DMPF)
Approval
✓ Mineral Production Sharing
Agreement (MPSA) ✓ Free, Prior and Informed Consent (FPIC)
Certificate of Precondition
All Permits Received for Mining Development1
LUZON
Environmental Compliance
Certificate (ECC)
✓
Philippines
Note: (1) Local permits for water, land clearing and others to be obtained
MCB Project
KALINGA
Refer to ASX Announcements dated 04 October and 15 November 2022, 31 May and 28 September 2023, 18 March and 04 September 2024, 12 December 2025, and 09 and 23 January 2026
MCB PROJECT
DFS OUTCOMES
02
Celsius Resources - Corporate PresentationFebruary 2026
Foundation Asset
9
Long Life
35+ year mine life, supported by
large-scale resource base of:
▪ 343 Mt in M,I&I resources
and
▪ 130 Mt in 2P reserves
Robust Mine Plan
DFS delivered by pre-eminent
technical team lead by Ausenco
Focus on mining high-grade core
during the first 10 years,
delivering 4.7 years payback
Strong Local Backing
Close partnerships with local
stakeholders, including national and
local governments and the Balatoc
indigenous community
All substantive mining permits
secured
Attractive Economics
Post-tax NPV₈% of US$771M and
IRR of 24% based on conservative
Cu and Au price assumptions
US$1.2B NPV and 34% IRR at
current spot prices
✓
MCB Copper-Gold Project is Celsius Resources’ flagship asset, set to commence construction in 2026
Refer to ASX Announcements dated 24 February 2022, 25 November 2022, 18 March 2024, 04 September 2024, and 23 January 2026
Competitive Cost-Structure
Upfront CAPEX of US$ 276 M
AISC (net of by-products) of
US$ 0.70/lb Cu for the 1st 10 years
and US$ 1.92/lb Cu over LOM
Celsius Resources - Corporate PresentationFebruary 2026
Ore Mined 24.5 Mt 90.0 Mt
Head Grades
1.08% Cu
0.51 g/t Au
0.69% Cu
0.24 g/t Au
Recoverable Metal 2
246 Kt Cu (542 Mlbs)
319 koz Au
560 Kt Cu (1234 Mlbs)
507 koz Au
C1 Cost3 US$0.41/lb Cu
By-Product Basis
US$1.73/lb Cu
By-Product Basis
AISC3 US$0.70/lb Cu
By-Product Basis
US$1.92/lb Cu
By-Product Basis
Definitive Feasibility Study Completed
10
DFS outlines the MCB Project’s strong economic fundamentals
First 10 Years1 Life of Mine1
Note:
1) First 10 Years refers to the initial 10 years of operation. Life of Mine refers to the period from first ore production until final ore production, which the MCB Project DFS contemplates as a 35.3-year
LOM.
2) Recovered Cu and Au metal assume recoveries of 89.7% Cu and 72.6% Au over LOM.
3) Unit costs are calculated net of Au by-product credits. DFS assumes Au price of US$3,000/oz to 2036, and US$4,500/oz thereafter. Unit costs for Life of Mine also include closure costs that are
incurred post the cessation of mining.
Refer to ASX Announcement dated 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
Definitive Feasibility Study Completed (Cont.)
11
DFS outlines the MCB Project’s strong economic fundamentals
EBITDA US$2.3B US$5.1B
Development CapEx US$276M US$276M
Free Cash Flow US$1,429M US$2,843M
Post Tax NPV8% US$444M US$771M
Post Tax IRR 22.1% 24.1%
Payback2
4.7 years 4.7 years
First 10 Years1
Life of Mine1
Note:
1) First 10 Years refers to the development period plus the initial 10 years of operation. Life of Mine for the purposes of cash flow, valuation and returns metrics, includes the development period
prior to commencement of operations as well as the closure costs post the cessation of mining.
2) Payback measures the number of years into operations to recover capital investment, calculated on an unlevered and real basis.
Refer to ASX Announcementdated 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
DFS Mine Plan
Underground operation targeting near vertical orebody rich in copper and gold mineralisation
12
Mining Method1 • Sub-level open stoping (SLOS) mining method with
cemented paste backfill and dry-stacking of tailings
• Efficient mining with multiple stopes active in parallel,
enabling material blending to meet plant specifications
Ore Haulage1 • Initial ore via decline with truck haulage for first 3 years
• Thereafter a vertical shaft and hoisting system is the
primary material handling approach – improving
efficiency, costs, and supporting higher mining rates
• Shaft and conveying systems are included in sustaining
capital expenditure
Production 1
• 35+ year LOM, with 90.0 Mt ore mined at 0.69% Cu and
0.24 g/t Au, for recovered metal of 560 kt Cu and 507
koz Au
• 10-year high grade period, with 24.5 Mt ore mined at
1.08% Cu and 0.51 g/t Au, for recovered metal of 246 kt
Cu and 319 koz Au
Processing1 • Conventional concentrator process plant, ramping from
2.28 Mtpa in Years 1-2 to ~2.64 Mtpa for remaining life
• Potential throughput expansion to ~3.0 Mtpa from Year
10, not included in DFS Base Case
Note: (1) Underground development mining inventory and development plan as per ASX Announcement “MCB Definitive Feasibility Study Confirms Stronger Economics“ on 23
January 2026
Stoping and Decline Development
Shaft
DeclinePortal
Decline
Return Air
Raise
390 Level
930 Level
Refer to ASX Announcement dated 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
Updated Mineral Resource Estimate
13
Domain Ore Grade Contained Metal
Mt % Cu g / t Au Kt Cu Koz Au
JORC Ore Reserves Estimate (December 2025)
Proven 22.1 0.90 0.34 197.6 244.1
Probable 108.2 0.61 0.19 658.9 647.0
2P 130.3 0.66 0.21 856.5 891.2
JORC Reserves and Resources1, 2
Note:
1) Estimates have been rounded to the nearest Mt or ore, two significant figures for Cu and Au grade and
to the nearest kt of Cu metal and koz of Au metal. Some apparent errors may occur due to rounding.
2) JORC MRE estimate as at November 2025, inclusive of reserves, at a cut-off grade of 0.20% Cu.
Mineral Resource Block Model
JORC Mineral Resource Estimate (November 2025)
Measured
Type 1 HGV 13 1.15 0.50 145 202
Type 1 HGH 4 0.72 0.10 32 14
Type 3 LG 32 0.37 0.08 119 84
Total 49 0.60 0.19 296 300
Indicated
Type 1 HGV 48 0.66 0.28 316 433
Type 1 HGH 11 0.79 0.12 83 41
Type 3 LG 190 0.35 0.07 674 438
Total 248 0.43 0.11 1,072 913
Inferred
Type 1 HGV 19 0.50 0.12 94 72
Type 1 HGH 0.1 0.80 0.14 0.5 0.3
Type 3 LG 26 0.49 0.08 129 71
Total 45 0.49 0.10 224 143
M, I & I
Type 1 HGV 79 0.70 0.28 554 708
Type 1 HGH 15 0.77 0.11 115 55
Type 3 LG 248 0.37 0.07 992 593
Total 343 0.46 0.12 1,592 1,356
JORC mineral resource of 343 Mt and maiden ore reserve of 130 Mt underpinning 35-year mine life
2.0% 1.0% 0.5% 0.4% 0.3% 0.2% 0.1% -
Cu Grade
Resource based on geological interpretation, surface mapping of 60
diamond drill holes totaling 31,616 m completed by MMCI between
2006 and 2025
Refer to ASX Announcement dated 24 November 2025,12 December 2025,
and 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026 14
MCB Project Site Layout
Site Layout
Process and Filter Plant
Refer to ASX Announcement dated 23 January 2026
Dry Stacking Area
Contractor Pads
General Administration
Facility
Mine Infrastructure Area
Fuel/WTP/
Batching Plant
Tailings Filtration
Future Mining Shaft/Winder
UG Portal
Process Plant
HV Switchyard
Main Access
Road to Site
Site Access Bridge
Celsius Resources - Corporate PresentationFebruary 2026
Processing Plant and Flow Sheet
15
Significant processing infrastructure to be developed to treat MCB copper-sulphide ore
• Plant designed to treat copper-sulphide ore at 2.28
Mtpa during Years 1 – 2 and ~2.64 Mtpa thereafter
• Potential plant expansion to ~3.0 Mtpa from Year 10
onward, not included in DFS Base Case
• Selected processing route includes the following
circuits:
- Conventional ore crushing, stockpile and reclaim;
- Single-stage semi-autogenous grinding (SAG);
- 3-stage Jameson flotation circuit and regrind;
- Concentrate thickening and filtration; and
- Tailings thickening and filtration
• Recoveries over LOM are expected to be 89.7% for Cu
and 72.6% for Au
• Plant expected to produce an average of 25 ktpa Cu
and 32 kozpa Au in copper concentrate, over the first
10 years of operation
• Concentrate will be clean and marketable, with no
deleterious elements and a copper grade of ~25%
Processing Flow Sheet
Crushed Ore
Stockpile
SAG Mill
Primary
Cyclone
Rougher
Flotation
Rougher
Scavenger
Regrind
Cyclone
Regrind Mill
Cleaner
Flotation
Cleaner
Scavenger
Cu Conc.
Thickener
Cu Tailings
Thickener
Concentrate
Filtration
Tailings
Filtration
Tailings
Stockpile
Paste Plant
Dry
Stacking
Mine to
Backfill
Open Stopes
Cu
Concentrate
Crushed
Ore from
Mine
Filtrate
U/F
Filtrate
U/F
Final C Final T
C
C
T
Cyclone O/F
Cyclone U/F
Trommel O/S
T
T
O/F
C
U / F
F80 = 106μm
P80 = 38μm
P80 = 150μm
F80 = 128μm
Legend
C = Concentrate
T = Tailings
O/F = Overflow
U/F = Underflow
Refer to ASX Announcement dated 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
Project Infrastructure
16
The MCB Project’s mine plan is supported by low cost and robust infrastructure solutions
Site Infrastructure Power Supply Site Water Management
• Project will comprise an underground mine
and surface infrastructure
• Site layout includes a process plant, ancillary
facilities, and a general admin facility
• Concentrates will be transported from the
plant site to Salomague Port by trucks using
lined containers, via the 21-km main access
road that is to be constructed
• Containers will then be loaded onto vessels
for seaborn export
• The 21-km main access road will be jointly
developed by MMCI and the Provincial Local
Government Unit
• Estimated power demand of 16.3 MW from
start of operations to be sourced from the
National Grid Corporation of the Philippines
at San Esteban, Ilocos Sur
• Additional towers and overhead transmission
lines will be necessary to connect the grid to
the project site
• Current grid power from coal (60%), gas
(18%), geothermal (10%), hydro (8%), wind &
solar (2.6%)
• Alternative power sources may be used as
renewable energy projects become
operational, including geothermal and
hydropower
• Raw water is abstracted from a nearby falls
which supports year-round minimum raw
water demand of 45L/s
• Recycled water recovered from thickener
overflows, filtration and underground sources
will be reused within the process plant to
reduce reliance on raw water extraction
• Two potable water treatment plants will be
installed to supply potable water for camp
facilities, offices, underground workshop
amenities, and the process plant
Refer to ASX Announcement dated 19 October 2023 and 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
ESG Commitment
17
✓ Minimised land disturbance through limited vegetation clearing and
progressive rehabilitation of areas impacted by the Project
✓ Robust tailings management strategy incorporating cemented paste
backfill for underground disposal and filtered dry-stack tailings for
surface storage, delivering long-term stability and reduced
environmental risk
✓ Water-efficient processing, with filtration-recovered water reducing
raw water demand and supporting process water recycling
✓ Close partnerships with host communities, fostered through a
commitment to preserving cultural heritage and customs of and
delivering mutually beneficially economic gains
✓ Indigenous Approval secured in 2022. Monthly meetings with
Council of Elders to promote constructive ongoing dialogue
✓ Labour required for both construction and operations will be
locally sourced with the Balatoc community having priority for
employment
Environmental
Social
Governance
✓ Commitment to highest standard of governance and ethics,
meeting or exceeding all applicable laws and regulations, and
applying responsible industry standards where regulation is
absent
✓ Strong safety leadership, with proactive risk management to
protect employees, contractors and visitors
Refer to ASX Announcement dated 15 November 2022 and 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
Production Profile
18
Mining of higher-grade stopes occurs
in the initial 10 years of operation,
delivering rapid 4.7-year payback
Potential to increase ore throughput
from 2.6 Mtpa to 3.0 Mtpa to sustain
concentrate production as feed
grades decline post Year 10
Mining almost solely in the orebody
Vertical shaft and hoisting system to
improve haulage efficiency as the
mine deepens, reducing operating
costs and supporting higher
production rates
Material Mined
-
0.2 x
0.4 x
0.6 x
0.8 x
1.0 x
-
500
1,000
1,500
2,000
2,500
3,000
CY26
CY28
CY30
CY32
CY34
CY36
CY38
CY40
CY42
CY44
CY46
CY48
CY50
CY52
CY54
CY56
CY58
CY60
CY62
Strip
Ratio
(x)
Material
Mined
(kt)
Ore Mined (kt) Waste Mined (kt) Strip Ratio (x)
Truck Haulage Vertical Shaft Hoisting System
Payable Production
Robust mine plan delivering an average of 2.5 Mtpa ore mined and 19 ktpa Cu equivalent over LOM
-
10
20
30
40
50
60
CY28
CY30
CY32
CY34
CY36
CY38
CY40
CY42
CY44
CY46
CY48
CY50
CY52
CY54
CY56
CY58
CY60
CY62
kt
/
koz
Cu Payable Metal (kt) Au Payable Metal (koz) CuEq Payable Metal (kt)
33 ktpa Cu Eq. over the initial 10 years of
operation; 19 ktpa Cu Eq over LOM
Refer to ASX Announcement dated 23 January 2026
Celsius Resources - Corporate PresentationFebruary 2026
Initial Capital Expenditure
19
Ex. Growth Growth Total
Mining 30.8 0.7 31.5
Process Plant 74.0 7.2 81.2
Tailings Filtration & Handling 29.9 2.6 32.5
On Site Infrastructure 45.1 4.5 49.6
Off Site Infrastructure 20.7 - 20.7
Project Preliminaries 10.0 - 10.0
Project Delivery 10.3 - 10.3
Owner's Costs 13.7 - 13.7
Total Excl. Contingency 234.5 15.1 249.5
Contingency 26.5 - 26.5
Total 261.0 15.1 276.1
• Development CapEx, excluding provisions for growth and contingency,
has been estimated at US$234.5M
• Growth provision of US$15.1M was added to the base estimate, in
addition to a contingency provision of US$26.5M, resulting in an all-
inclusive capital cost estimate of US$276.1M
• Ausenco prepared the capital cost estimates though a combination of
formal tender (i.e., for early works including the site access bridge),
sourcing quotes from vendors, and d
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