Announcement PDF Multi-asset and near-term, lowcost copper producer Corporate Presentation September 2024 ASX/AIM: CLA DISCLAIMER & NOTES This presentation has been prepared by Celsius Resources Limited ("Celsius" or "CLA"). 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 implied is made to the fairness, accuracy, completeness or correctness of these materials or opinions contained therein and each receipt of these presentation materials must make its own investigation and assessment of the matters contained therein. 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The information in this presentation with respect to the updated JORC compliant Mineral Resource estimate (MRE) for the MCB Project was announced by Celsius to the ASX on 12 December 2022. Celsius confirms that it is not aware of any new information or data that materially affects the information included in the announcement dated 12 December 2022 and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed. The information in this announcement with respect to the outcomes of the Study for the MCB Project was first released by Celsius to ASX on 1 December 2021. Celsius confirms that all material assumptions underpinning the production target and forecast financial information derived from the production target referred to in the announcement of 1 December 2021 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 7 November 2022. An updated resource was announced to the ASX/AIM on 06 February 2024 and 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. 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. Celsius confirms that it is not aware of any new information or data that materially affects the information included in the announcement dated 1 July 2021 and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply and have not materially changed. 2 CELSIUS RESOURCES (CLA) | Investment Portfolio ▪ CLA is a dual listed (ASX/AIM) resources company with copper/gold projects in the Philippines. ▪ A multi-asset company with copper/gold JORC resources in the Philippines of 650Mt. ▪ World-class porphyry projects with geographic diversity within the Philippines. ▪ Multi-generational — more than a lifetime of contained copper and gold to be mined. Refer to ASX announcements dated 1 July 2021, 12 December 2022, 7 August 2023, 01 January 2024, 02 February 2024, and 18 Marc h 2024. 3 Philippines | Open for Business Celsius has received: ▪ the first mining permit (MPSA) for a new copper mine in 15 years; and ▪ the first FPIC Certification Precondition for a copper/gold project in 5 years Refer to ASX/AIM announcements dated 18 March 2024 and 4 September 2024 ▪ Strong government support for responsible mining in the Philippines ▪ Clear processes for permitting ▪ Clear processes for community participation ▪ Solid contributions to indigenous communities ▪ Strong legal protection for the life of permit 4 CELSIUS RESOURCES | Commitment to Leading ESG Practices Celsius Resources is committed to the sustainable discovery and development of copper and gold. The Company defines sustainability as the purposeful delivery of all projects in a manner that is environmentally responsible while simultaneously contributing to the long-term socio-economic development of our host communities. 5 CELSIUS RESOURCES | Highly Experienced Board and Management JULITO SARMIENTO Executive Chairman An experienced Philippine lawyer with over 30 years specialising in mining, environment, social license, indigenous peoples, renewable energy, government relations and who has established close relationships with civil society, Church and local communities. MARK VAN KERKWIJK Executive Director Mark brings a strategic and entrepreneurial approach to executing CLA’s flagship projects. His extensive experience as a substantial private investor in the resource sector, particularly in the mining industry, has equipped him with a deep knowledge and understanding of market dynamics, shareholders’ interests and investment strategies that drive company growth and innovation. PETER HUME Non-Executive Director Over 40 years’ experience on major mining and construction development projects on lead roles throughout Australia, Philippines and internationally. With demonstrated experience in general management, project management, construction management, dispute resolution, infrastructure, and process design, concept planning to commissioning and operations, as well as design management, development, and implementation of quality, safety, and maintenance management systems. PAUL DUDLEY Non-Executive Director KELLIE DAVIS Corporate Secretary ATTILENORE MANERO Non-Executive Sustainability Director Corporate Affairs & Sustainability DirectorPhilippines A development professional specialising in social and environmental impacts management, with more than 13 years of substantial practical experience in managing a diverse team of local and international experts whilst carrying out studies leading to the development and implementation of social and environmental plans and programs consistent with local statutes and internationally accepted standards. A Fellow of the Institute of Chartered Accountants of England and Wales and a Member of the UK's Chartered Institute of Securities and Investments. He founded Aer Ventures (formerly HD Capital) in 2011 where he is Managing Partner, advising and leading corporate transactions on numerous public and private companies. Over 20 years of experience in accounting and secretarial ASX Compliance, predominantly in the exploration and resources sector beginning her career in Audit with Ernst and Young. PATRIQUE JANE DURAN Chief Operations Officer- Philippines A mining engineer, formerly with the Philippine Mines and Geosciences Bureau, with ten years experience in various lead roles in government and private sectors in the mining industry. 6 MCB Copper-Gold Project Kalinga, Philippines 7 MMCI | MCB Copper-Gold Project Key Features • Celsius’ flagship project held by its Philippine subsidiary, Makilala Mining Company, Inc. • Located 320km north of Manila. • Tenement covers c.2,500 hectares. • Mining Permit issued on 15 March 2024 which grants the Company exclusive rights to undertake rational exploration, development, and commercial production of copper and associated minerals for a period of 25 years, renewable for another 25 years. Geology & Mineralisation • The MCB deposit comprises classic porphyry style copper-gold mineralisation with a high-grade sub vertical core, representing approximately 28% of the total Mineral Resource Estimate. • 55 diamond drill holes completed from 2006- 2022 with a cumulative drilling distance of 30,122m at a total cost of A$30.9M. Refer to ASX announcements dated 01 December 2021,12 December 2022, and 18 March 2024 8 MCB | Outstanding Assay Results Highlights • Intersection of 611.4m @ 1.39% copper and 0.75 g/t gold from 32.5m (1.67% CuEq*). • Multiple internal higher-grade results confirmed: o 150.85m @ 1.90% copper and 1.57 g/t gold from 207./15m (2.55% CuEq*) o 234.45m @ 1.90% copper and 0.87 g/t gold from 391.55m (2.22% CuEq*), and o 77.55m @ 2.47% copper and 2.12 g/t gold from 232.10m (3.34% CuEq*) Near surface high-grade copper including: o 10.5m @ 0.69% copper and 0.07g/t gold from 19.5m o 65m @ 1.73% copper and 0.37g/t gold from 66m • * The reporting of copper equivalent values (CuEq) was based on long term predicted copper prices of US$4.0lb, gold price of US$1,695/oz, and with copper and gold recoveries of 94.2% and 79%, respectively as defined in the reported study for the MCB Project. (See ASX announcemen t on 1 December 2021). Assumed copper and gold price predictions will vary with market conditions and this will be re -evaluated in future studies. Refer to ASX announcement dated 4 July and 19 October 2022 9 MCB | Mineral Resource Estimate An updated JORC Mineral Resource Estimate was announced in December 2022, comprising: Section 1 with the interpreted host rock geology relative to the defined copper mineralised domains. ▪ Global Mineral Resource of 338Mt @ 0.47% copper and 0.12g/t gold (0.2% Cu cut-off). ▪ Total Resource includes approximately 1.6Mt of contained copper and approx. 1.3Moz of gold. Note: Estimates have been rounded to the nearest MT of ore, two significant figures for Cu and Au grade, and to the nearest kt of Cu metal and kozs of Au metal. Some errors may occur due to rounding. Refer to the ASX announcement dated 12 December 2022 for the Updated JORC Mineral Resource Statement prepared by Steve Olsen (MAusIMM, AIG) 10 MCB | High Grades & Recoveries and Solid Economics Key Inputs ▪ ▪ Item Preferred Case First 10 Years Preferred Case Life of Mine (25 Years) Optimised mine plan focused on the high-grade Cu-Au portion of the MRE, equating to 49 Mt at 0.85% Cu and 0.41g/t Au, 100% of which was classified as Indicated Resource Ore Mined 22.2 Mt 48.8 Mt Copper Grade 1.14% 0.85% Copper Recovery 94.2% 94.2% High marketability of copper concentrate Gold Grade 0.54 g/t 0.41 g/t Gold Recovery 79.0% 79.0% Process Plant Throughput 2.28 Mtpa 2.28 Mtpa Average Annual Copper Production (Payable) 22ktpa 16 ktpa Average Annual Gold Production (Payable) 27 kozpa 19 kozpa Initial Capital USD 253M USD 253M N/A USD464M - 31% After-Tax NPV8% Internal Rate of Return Payback C1 Cost (net of gold credits) 2.67 years USD 0.73/lb Cu USD 1.29/lb Cu *Assumption: Cu = USD4.0/lb; Au = USD 1,695/oz Refer to ASX announcement on the Positive Scoping Study dated 1 December 2021 11 MCB Project | Permitting and Approvals Refer to ASX Announcements dated 4 October 2022, 15 November 2022, 31 May 2023, 29 September 2023, 18 March 2024, and 04 Sept ember 2024 12 MCB Project | Offsite Infrastructure The MCB Project’s mine plan is meticulously outlined to establish supportive infrastructure essential for sustaining and managing its operations seamlessly, from production to the delivery of concentrates. Site Infrastructure Power Supply Site Water Management ▪ The MCB Project will comprise an ▪ The Project’s 12-megawatt power demand ▪ A freshwater dam and the underground underground mine and surface infrastructures. ▪ The site layout includes a process plant, ancillary facilities, and a general admin facility. ▪ Concentrates will be transported from the plant site to the port facility by trucks using lined containers, via the 21-km main access road that is to be constructed. ▪ The containers will be stored in a laydown area near the port and delivered to the docking area once a vessel is available. ▪ Road alignment from mine site to port will be jointly developed by MMCI and the Provincial Local Government Unit. Refer to ASX Announcement dated 01 December 2021 will be sourced from the nearest substation of the National Grid Corporation of the Philippines at San Esteban, Ilocos Sur. ▪ Although existing power lines are available, it is expected that additional towers and overhead transmission lines will be necessary to cater operations. ▪ Alternative power sources may be tapped in the future when various renewable energy projects near the area become operational, including a geothermal power project and two other hydropower projects. water collection pond with estimated capacity of approximately 100,000m3 and 500,000m3, respectively, will be constructed to support site operations. ▪ A water treatment plant will be installed after the collection dam to remove the impurities from the contact water before discharging to the nearby river. ▪ The operation will use minimal fresh water with an average demand of 0.02m3/s, most of which will be recycled. 13 Sagay Copper Project Negros Occidental, Philippines 14 TMCI | Sagay Copper Project ▪ Sagay Copper Project is held by Tambuli Mining Company, Inc. (TMCI), a Philippine subsidiary of Celsius Resources, Ltd. with a tenement area of ~1,780 hectares. ▪ Exploration commenced in 2008, including: o geological mapping o gridlines preparations o soil and rock sampling o geophysical surveys consisting of induced polarisation, resistivity, and ground magnetics. ▪ A total of 47 drill holes completed from 2012 to 2023 with a cumulative drilling distance of 28,252.20m and a total cost of ~AUD$14.7M. ▪ The culmination of the exploration activities led to the discovery of a large-scale deep porphyry copper-gold mineralisation with a shallow, secondary supergene deposit west of the main porphyry deposit, which would be the first target to be developed. Refer to ASX Announcement dated 20 April 2021 and 06 February 2024 15 Sagay | Updated Mineral Resource ▪ The updated JORC-compliant Mineral Resource Estimate (MRE) is defined by 45 diamond drill holes which are broadly spaced and have shown copper mineralisation over an extended area from the surface down to 1.2 km in depth. ▪ Focus of the update related to the shallow supergene copper mineralisation which now includes Measured and Indicated Mineral Resources. ▪ Combined Measured, Indicated and Inferred Mineral Resource of 312 million tonnes @ 0.39% copper and 0.11g/t gold. The Global Resource remains unchanged with ~1.2 million tonnes of contained copper and ~1 million ounces of contained gold. ▪ Copper mineralisation is open in multiple directions, with further shallow targets untested. ▪ Mineralisation exists from near surface down to over 1.2km depth with strike lengths up to 1 km and true widths extending into the 100’s of metres. ▪ The shallow copper zone offers Celsius the opportunity to develop a low-cost start-up opportunity which was the basis of the feasibility study that was submitted to the Philippine Government. Refer to ASX/AIM Announcement dated 06 February 2024 16 Sagay | Low-cost, near-term project ▪ ▪ ▪ As a requirement of the Philippine Government, a Mining ▪ Project Feasibility Study was conducted to evaluate the technical and financial viability of the shallow supergene chalcocite deposit and advance the project towards ▪ project development and operations. The study confirmed the presence of minerals in the area which are recoverable by processing the ore through gravity separation which was determined to be economically sound while ensuring that environmental protection and preservation methods would be ▪ implemented through advanced mining technologies. Technical, environmental, and social considerations were incorporated in the mine design to reduce the mine footprint to approximately 20 hectares. Refer to ASX/AIM Announcement dated 06 February 2024 The process plant will employ a gravity concentration method to extract the copper concentrate from the ore. Metallurgical test works indicated that the tails produced is non-acid generating. All tailings will be managed through dry stacking method which eliminates the need for tailings dam, thus removing the possibility of environmental impacts (tailings spill). Other alternative disposal methods are being studied which are currently being implemented within Southeast Asia and globally. 17 Sagay | Permitting ▪ An application for Declaration of Mining Project Feasibility (DMPF) was submitted to the Philippine Government in December 2023, along with the following key documents: o o o o o o o Mining Project Feasibility Study Final Exploration Report Environmental Impact Statement Report Environmental Protection and Enhancement Program Final Mine Rehabilitation and/or Decommissioning Plan Social Development and Management Program Care and Maintenance Program ▪ The company is currently finalising an Environmental Impact Assessment as part of the permitting process to demonstrate to stakeholders that adequate mitigating measures can be implemented using best practices, engineering methods, and advanced technologies, underscoring the company's commitment to environmental protection and preservation. ▪ The approval of the DMPF and the Environmental Compliance Certificate (ECC) will trigger the next stage of the permitting process leading to a mining permit that would enable the development and operations of the Sagay Project. Refer to ASX/AIM Announcement dated 08 January 2024 18 Botilao Copper-Gold Prospect Kalinga, Philippines 19 MMCI | Botilao Copper-Gold Prospect ▪ Located in the Cordillera Administrative Region in the Philippines, ~320km north of Manila. ▪ It is a prospect within the Makilala portfolio with an approximate area of 947 hectares, southwest of the MCB Project. ▪ Exploration permit was issued on 29 September 2023 along with an approved Exploration and Environmental Work Program. ▪ Drilling was previously conducted by Lepanto Exploration Asia in the '70s which determined the presence of copper-gold mineralisation in the area with copper grades up to ~1%. Refer to ASX/AIM Announcement dated 20 June and 07 August 2023 20 Botilao | Initial Exploration Works ▪ The initial two-year exploration program aims to define the extent and distribution of the observed mineralisation along Botilao Creek. ▪ Exploration activities will consist of regional to semi-detailed geochemical sampling and mapping to generate future targets for possible geophysical surveys and eventual diamond drilling activities. ▪ Mapping of different rock types or lithologies in the area will be conducted to characterise and delineate mineralised or altered zones. ▪ Detailed mapping will focus on identified mineralised outcrops to ensure proper understanding of the classification and controls of mineralisation during exploration phase. Refer to ASX/AIM Announcement dated 20 June and 07 August 2023 21 Botilao | Exploration Upside With the close spatial relationship and the similarity of mineralisation style of the MCB and the Dickson ore bodies, it can be deduced that both, including the Maalinao Deposit in between, are part of one porphyry mineralisation zone. Long cross section of the MCB Deposit with respect to the Maalinao-Dickson ore bodies Panoramic view of the surface projections of the Mt. Mines deposit (MCB) and the Maalinao-Dickson Deposits Refer to ASX/AIM Announcement dated 20 June and 07 August 2023 22 Celsius | Investment Summary MCB Copper-Gold Project ▪ Initial CAPEX of US253m and payback period of 2.67 years ▪ Potential for 25-year mine life ▪ Mining Permit recently issued for a period of 25 years, renewable for 25 years ▪ Extensive funding interest ▪ Huge potential for extending mine life through adjacent tenement which is currently being explored Sagay Copper Project Botilao Copper-Gold Prospect ▪ Combined Measured, Indicated and Inferred MRE of 312Mt @ 0.39%Cu and 0.11g/tAu ▪ Clean copper concentrate ▪ Estimated copper grades of up to ~1% based on historical drilling ▪ Planning drill campaign in order to define MRE ▪ Opportunity to develop low-cost, near-term sustainable approach ▪ DMPF application submitted ✓ A compelling portfolio of copper projects that offer the potential to generate near-term revenues that could provide the platform to develop long-lived mining assets. ✓ Positioned to benefit from the next copper boom with near-term, low-cost revenue potential paired with growing copper demand ✓ Highly experienced Board and Management team with in-country project development experience and demonstrated capital funding. Refer to ASX Announcements dated 1 December 2021, 8 January 2024 and 6 February 2024 23 Competent Persons Statement Information in this presentation relating to the reporting of Mineral Resource Estimates and Exploration Results for the MCB and Sagay Projects is based on information compiled, reviewed and assessed by Mr. Steven Olsen, who is a Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr. Olsen is a consultant to Celsius Resources and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Olsen consents to the inclusion of the data in the form and context in which it appears. Information in this report relating to Exploration Results for the Opuwo project is based on information reviewed and compiled by Dr Rainer Ellmies, who is a Member of the Australasian Institute of Mining and Metallurgy and the Principal Geological Advisor for the Opuwo Project of Celsius Resources. Mr. Ellmies discovered the Opuwo deposit in 2012 and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 edition of the “Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr. Ellmies consents to the inclusion of the data in the form and context in which it appears. 24 Level 5, 191 St. Georges Terrace Perth WA 6000 PO Box 7059 Cloisters Square PO Perth WA 6850 P: +61 8 9324 4516 W: celsiusresources.com Australia: Philippines: mark@celsiusresources.com.au peter.hume@celsiusresources.com.au United Kingdom: paul.dudley@celsiusresources.com.au 25