GBM RESOURCES LIMITED. — AGM Information 2024

Nov 26, 2024

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ASX Announcement

Level 1, Suite 102, 303 Coronation Drive, Milton, QLD 4064 E reception@gbmex.com.au P +61 493 239 674 www.gbmr.com.au ABN 91 124 752 745

27 November 2024

AGM Presentation - Reissued

Please finded following the Annual General Presentation reissued to correct a blank slide 8 in the presentation lodged earlier today.

This ASX announcement was approved and authorised for release by:

Peter Rohner, Managing Director

For further information please contact:

Investor enquiries

Peter Rohner Managing Director +61 493 239 674 peter.rohner@gbmex.com.au

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AGM Presentation

Exploring Epithermal Gold Systems in the Drummond Basin, Queensland Australia 27 November 2024

309DD22005 – 129.4 g/t Au from 327.5 m[1]

Free Gold (Electrum)

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1. GBM ASX Release: 10/05/2022, Impressive drill results at Twin Hills – 49 m @ 5.18 g/t Au

Important notices

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This Document is not a Prospectus nor an Offer to Subscribe for Shares and Options (the “New Securities”) in any jurisdiction. The distribution of this Document in jurisdictions outside of Australia may be restricted by law. Any person who comes into possession of this Document in jurisdictions outside Australia should observe any such restrictions. Nothing in this Document is to be construed as authorising the distribution, or the offer or sale of the New Securities in any jurisdiction other than Australia, and GBM does not accept any liability in this regard. Failure to comply with these restrictions may constitute a violation of applicable securities laws. In particular, the New Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("US Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. See the section of this presentation titled “Foreign selling restrictions” for more information.

GBM and its Directors, employees and consultants make no representations or warranty as to the accuracy, reliability or completeness of this document, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded.

This document contains reference to certain targets and plans of GBM which may or may not be achieved. The performance of GBM may be influenced by a number of factors, uncertainties and contingencies, many of which are outside the control of GBM and its directors, staff and consultants.

This presentation may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The Company’s current projects in Australia are at an early stage and all estimates and projections are based on limited, and possibly incomplete data. More work is required before geological and economic aspects can be confidently modelled. Actual results may differ materially from those currently anticipated in this presentation. No representation or prediction is intended as to the results of future work, nor can there be any guarantee that estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be economic.

It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves ("JORC Code"). Investors outside Australia should note that while ore reserve and mineral resource estimates of GBM in this Document comply with the JORC Code (such JORC Code-compliant ore reserves and mineral resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and, in particular, do not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators (the "Canadian NI 43-101 Standards"); or (ii) Industry Guide 7, which governs disclosures of mineral reserves in registration statements filed with the US Securities and Exchange Commission (the "SEC"). Information contained in this Document describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. In particular, Industry Guide 7 does not recognise classifications other than proven and probable reserves and, as a result, the SEC generally does not permit mining companies to disclose their mineral resources in SEC filings. You should not assume that quantities reported as “resources” will be converted to reserves under the JORC Code or any other reporting regime or that GBM will be able to legally and economically extract them.

2

Competent Persons Statement

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The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements dated:

• GBM ASX Release: 04/12/2017, Scoping Study Demonstrates the Potential Economic Viability of Recommencing the Mount Coolon Gold Project, Queensland Project

• GBM ASX Release: 10/08/2020, White Dam JORC 2012 Resource of 102 koz, under a JV arrangement and subject to Option to Purchase

• GBM ASX Release: 23/12/2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition

• GBM ASX Release: 02/02/2022, Significant Resource Upgrade at Twin Hills Project

• GBM ASX Release: 10/05/2022, Impressive drill results at Twin Hills – 49 m @ 5.18 g/t Au

• GBM ASX Release: 05/12/2022, Twin Hills Gold Project Upgrades to ~ 1 Moz Mineral Resource

• GBM ASX Release: 15/03/2023, Results of Yandan Mineral Resource Update

• GBM ASX Release, 22/03/2023, New Yandan Geology Model Define Compelling Targets

• GBM ASX Release: 28/04/2023, Compelling Target Areas Identified at Twin Hills

• GBM ASX Release, 29/08/2023, White Dam Executes Strategic Alliance with Portia Gold Mine

• containing previous released exploration results and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements dated:

• Koala/Glen Eva and Eugenia – GBM ASX Announcement, 4 December 2017,

• Mt Coolon Gold Project Scoping Study, note these resources have not been verified by Newmont and are on tenements subject to a farm-in agreement with Newcrest (now Newmont)

• Yandan – GBM ASX Announcement, 23 December 2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition, and GBM Announcement, 14 March 2023, Results of Yandan Mineral Resource Update

• Twin Hills – GBM ASX Announcements, 18 January 2019, Mount Coolon and Twin Hills Combined Resource Base Approaches 1 Million Ounces and 2 February 2022, Significant Resource Upgrade at Twin Hills Project and 5 December 2022, Twin Hills Gold Project Upgrades to ~1 Moz Mineral Resource

• White Dam - GBM ASX Announcement, 18 August 2020, White Dam Maiden JORC 2012 Resource of 102 koz

continue to apply and have not materially changed.

The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially changed from the original market announcement.

3

Investment Highlights

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GBM - 2024 progress and 2025 plans

• ✓ Quality tenement package in the Drummond Basin attracted interest of Newcrest (now Newmont) and Wise Walkers Limited for Purchase and Farm-in deals. Secured funding and JV expenditure to advance large tenement package and resource base

• ➢ Newmont funding at Mt Coolon Project (75% Farm-in), Project to date expenditure as at 30 September 2024 is ~$9.6 million.

• ➢ Wise Walkers – recently announced $12 M deal for 70% Farm-in on Twin Hills Project (subject to completion). GBM 30% free carried to “decision to mine” and manager[(1) ] , this transaction when completed will underwrite the repayment of the remaining Convertible Note

• ✓ Reduction in Convertible Note debt from $10 M to ~$6.1 M with further proceeds of Malmsbury project interest sale (Sale of Novo shares as part of purchase price and conversion of $0.9 M to equity by Collins Street)

• ➢ Net Convertible Note debt ~$5.4 M as at Dec 2024, with prepaid interest to end 2025

• Continue successful Non-Core asset disposals to provide funding for Drummond Basin exploration (Yandan) and to be in a position to repay Convertible Note debt as it falls due in 2025

• ➢ Divest White Dam Gold Project, Mt Morgan Gold/Copper Project and Cloncurry JV

• Strengthen Board and Executive team to ramp up exploration activities in 2025

• Commence drilling at Twin Hills Project in 2025 with completion of Twin Hills Partial Sale and Farm-in

• Continue to advance Yandan Project exploration, with geophysics and plans to drill in second half 2025.

• GBM ASX Releases: 15/07/2024, Binding $12 Million Sale and Farm-in Agreement on Twin Hills, 21/10/24, $12 Million Sale and Farm-in Agreement on Twin Hills Signed

4

Corporate Summary

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A Valuable Opportunity in a Bullish Gold Environment

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GBM – 12 Month Share Price with Gold Price (USD) [(1)]
3,000 0.025
2,900
0.023
2,800
2,700 0.021
2,600 0.019
2,500
0.017
2,400
2,300 0.015
2,200
0.013
2,100
2,000 0.011
1,900 0.009
1,800
0.007
1,700
1,600 0.005
Spot Gold GBZ-Share Price
Spot Gold (US$/oz) GBM Share Price (A$)
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	Share Price(1)	A$0.007
	Market Capitalisation(1)	A$8.1 M
	Cash and Receivables (Gold Bullion)as at 27 November 2024	~A$2.4 M
	Convertible Note – (Full payment due December 2025) net liability post Novo share sales (end Nov 24) – due Oct 25 and Dec 25	A$6.1 M(2)

Capital Structure

	Capital Structure
	Ordinary shares on issue	1,157 M
	Unlisted options ▪ >$0.006, various expiries ▪ $0.015	56.0 M 258.4 M
	Performance Rights	0.8 M

Major Shareholders

Board and Management

Collins Street Asset Mgmt. 16.5 % Citicorp Nominees 11.3 % Wise Walkers 9.6 % Peter Rohner (MD) 6.0 %

Peter Rohner Managing Director Andrew Krelle Executive Director Edward Jelicich-Kane General Manager – Exploration Sunny Loh Non-Executive Chairman Peter Thompson Non-Executive Director

1. Cap IQ, 25 November 2024

2. Assumes value of ASX:NVO shares (4,037,872), escrowed until 25 April 2024 and sold recently, applied to Convertible Note repayment in Nov 24.

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Other
Top 20
Shareholders
Shareholders
27%
65%
Directors
8%
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5

Moving Forward – Exploration 2025-2026

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Sustained, Systematic Exploration across Twin Hills and Yandan

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▪ GBM rebuilding from the Twin Hills JV 2024 2025 2026
ground up by compiling all
historical data to date and
Yandan Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
applying fresh ideas
▪ Building enthusiastic field 3D Modelling & Seismic & IP
teams dedicated towards Geophysics
3D Modelling & Seismic Survey
discovery
Twin Hills Epithermal Corridor
▪ Geophysics geared towards Soils
discovery planned around Yandan Regional
Yandan, 309 and Lone
Mapping
Sister Deposits. Geological Work
Data Compilation & Mapping
▪ Drilling to commence post
geophysics Twin Hills & Regional Exploration Resource
Drilling
▪ Soils/shallow drilling to Yandan & Illamahta Resource + Exploration
follow-up historical 309 & Lone Sister
geochemical Au, As, Sb Metallurgical Work
anomalism Illamahta + Yandan
309 & L. Sister
▪ Program to progress mine Resource
studies at Twin Hills Yandan & East Hill
Geotech, Water, Review Mine studies
Mining Studies
Review Illa & Yandan Pit Review, Geotech, Water
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6

Drummond Basin – Epithermal Gold

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GBM holds dominant position in an underexplored district scale epithermal gold system

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Drummond Basin resource endowment: >8.49 Moz Au GBM Resources Total (open): >1.84 Moz Au Expand Resource Base: >3.0 Moz Au Newmont funding (A$9.6 M) to Sep. 2024, active exploration program including drilling completed, but awaiting results (H1 and H2, 2024) at Mt Coolon Project (75% Farm-in) Wise Walkers – recently announced 70% Farm-in on Twin Hills Project (subject to completion) [(6) ] Pajingo Epithermal Deposit[[(5) ]] (Shandong Yulong Gold Co. Ltd) (Hoschke & Sexton, 2005)

Pajingo Epithermal Deposit[[(5) ]] (Shandong Yulong Gold Co. Ltd)

1. GBM ASX Release: 04/12/2017, Scoping Study Demonstrates the Potential Economic Viability of Recommencing the Mount Coolon Gold Project, Queensland Project

2. GBM ASX Release: 23/12/2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition

3. GBM ASX Release: 05/12/2022, Twin Hills Gold Project Upgrades to ~ 1Moz Mineral Resource

4. GBM ASX Release: 15/03/2023, Results of Yandan Mineral Resource Update

5. Hoschke, T. & Sexton, M. (2005). Geophysical exploration for epithermal gold deposits at Pajingo, North Queensland, Australia. in Exploration Geophysics 36:4 pp401-406

6. GBM ASX Releases: 15/07/2024, Binding $12 Million Sale and Farm-in Agreement on Twin Hills, 21/10/24, $12 Million Sale and Farm-in Agreement on Twin Hills Signed

7

GBM has an Established Resource Base

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90% of resource ounces on permitted Mining Leases for potential accelerated development

Attributable GBM Resources if all Farm-in’s complete

➢ ~900 koz Au

➢ Possible $23 M to be spent on Farm-in’s if completed

GBM’s Resources

• ( Cut-off grades: Open-Pit - 0.4 g/t & Underground- 2.0 g/t Au)

309 Deposit

• 10.63 Mt @ 1.5 g/t Au for 0.52 Moz Au

Lone Sister Deposit

• 12.48 Mt @ 1.2 g/t Au for 0.48 Moz Au

Yandan & Illamahta Deposits

• 15.90 Mt @ 1.0 g/t Au for 0.51 Moz Au

Higher grade core (Cut-off grades: 1.0 g/t)

▪ 13.5 Mt @ 2.4 g/t Au for 1.0 Moz Au

• Yandan 2.2 Mt @ 3.6 g/t Au

• 309 5.7 Mt @ 2.4 g/t Au

• Lone Sister 5.6 Mt @ 2.0 g/t Au

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1.85 Moz 1.84 Moz
1.1 g/t 1.3 g/t
1.61 Moz MEA MEA
1.2 g/t
MEA
IND IND
IND
0.85 Moz
0.9 g/t
IND
0.33 Moz INF INF
1.5 g/t INF INF
IND
INF
1 2 3 4 5
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March 2023 Resources stated at 0.4 g/t cut-off for open pit resources at Koala, Eugenia, Glen Eva, East Hill, Illamahta and Twin Hills. A 0.3 g/t cut-off was used for Yandan south open pit. A cut-off of 2.0 g.t was used for underground resources at all projects.

1. GBM ASX Release: 04/012/2017, Scoping Study Demonstrates the Potential Economic Viability of Recommencing the Mount Coolon Gold Project, Queensland Project 2. GBM ASX Release: 23/12/2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition 3. GBM ASX Release: 02/02/2022, Significant Resource Upgrade at Twin Hills Project

2. GBM ASX Release: 05/12/2022, Twin Hills Gold Project Upgrades to ~ 1 Moz Mineral Resource

3. GBM ASX Release: 15/03/2023, Results of Yandan Mineral Resource Update

8

Yandan & East Hill – 14.7 Mt @ 1.0 g/t Au for 0.46 Moz (with high grade zone)

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Mapped by IP Geophysics

• Current East Hill High-Grade Resource:

1.1 Mt @ 5.7 g/t Au for 201 koz Au

• Conceptual high grade fissure vein target is similar to Waihi (NZ) and Pajingo (QLD) deposits[(3,4)]

• Mapping labelled Yandan main pit as a ‘silica cap’[6]

• IP Chargeability shown to map mineralisation

• Scale of low-grade halo mineralisation ~1 km² (0.82 Moz Au) suggests a large epithermal feeder fissure vein at depth (historic production and current resources)

• Currently remodelling/compiling geophysics and geology in 3D

Next Steps

• Undertake modern geophysical surveys (3D IP, Seismic or CSAMT)

• Generate 3D structural model through geological mapping and relogging of core

▪ Drilling of newly generated targets

1. Yandan IM, Straits Resources, 2012

2. GBM ASX Announcement, 14 Mar 2023, Results of Yandan Mineral Resource Update

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1. OceanaGold, 2021. Waihi District – Martha Underground Feasibility Study, NI43101 Technical Report

2. Simpson, M.P & Mauk, J.L. (2007) The Favona Epithermal Gold-Silver Deposit, Waihi, New Zealand: in Econ. Geol. V102 pp817-839

3. Hoschke, T. & Sexton, M. (2005). Geophysical exploration for epithermal gold deposits at Pajingo, North Queensland, Australia. in Exploration Geophysics 36:4 pp401-406

4. Yandan Gold Mine, Geological Mapping, G. Doherty, 1997

9

Yandan Deposit – The hunt for high-grade feeder veins

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Large under explored epithermal gold system

IP & Geophysics

Geology

• Historical IP remodelled over all Yandan tenure

• Increased silica alteration and veining mapped in the West of the Main Pit[3]

• IP Chargeability clearly maps all shallow mineralisation (sulphide) but limited to top 150 m

• Feeder zones for Main Pit and South Pit unknown - Deep drilling fails to test Feeder zones

• Modern 3D IP able to map down to ~400 m. Planned for 2025

• Additional mineralisation lies outside historical pits

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1. GBM ASX Announcement, 22/03/23, New Yandan Geology Model Define Compelling Targets

2. Yandan IM, Straits Resources, 2012

3. Yandan Gold Mine, Geological Mapping, G. Doherty, 1997

10

East Hill Deposit (Yandan) – High grade epithermal veins

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Displaced epithermal gold system

• Top of system interpreted to be displaced by post mineral Generator Fault

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▪ Bonanza grade, feeder vein target below S Yandan East Hill Cross Section (viewing west) NN
200 mRL
▪ Strong geological evidence that East Hill is upper part of Epithermal
Gold intersections at base of
system evidenced by ‘Bladed carbonate replaced by silica’
resource:
▪ Repeated geology below Generator Fault with Epithermal Vein 191 m @ 4.0 g/t Au from 190 m
(YAN022 – 0.1 g/t cutoff) [1]
Clasts in Breccias: 21YEDD008 – 1 m @ 3.69 g/t Au from 599 m [1]
100 mRL
Andesite Interpreted as structurally
Volcanics
displaced top to concealed
B ▪ Colloform banding bonanza grade vein target
overgrowing the bladed
carbonate zones is (‘C’).
Pyrobitumen and relict 0 mRL
Pajingo style adularia in the veins. East Hill Resource
- 12.8 Mt @ 1.1 g/t Au
high grade 21YEDD006A [1]
for 443 koz Au [1]
fissure vein 13.0 m @ 9.2 g/t Au
target C from 321 m East Hill High-Grade
Inc. 1.0 m @ 48.4 g/t Au
1.1 Mt @ 5.7 g/t Au
-100 mRL for 201 koz Au [1]
(2.0 g/t Au cut-off)
YAN022 [1]
Drill Assays
43.7 m @ 13.9 g/t Au Au g/t
from 325.4 m
inc. 0.4 m @ 145 g/t Au
-200 mRL and 0.3 m @ 278 g/t Au
100 m
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1 GBM ASX Announcement, 22/03/23, New Yandan Geology Model Define Compelling Targets
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11

Illamahta Epithermal System – 2.9 Mt @ 0.8 g/t Au for 55 koz

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Resource within Interpreted Dilatational Zone

• Mineralisation from surface (Oxide)

• Illamahta Resource in Sediments due to increased fluid flow in interpreted dilatational zone

• Mineralisation ‘blowing out’ in St Anns Siltstone – Yandan Main Pit analogous with East Hill Feeder

• Andesites preferred host for thick high-grade epithermal veining (Waihi & Pajingo)

• Possible feeder structure at depth on basement growth fault – Geophysics -> Drilling

• Grow shallow resources -> Metallurgy

• Focus on Feeder – Illamahta has size potential and remains completely untested at depth

• High-Grade Intersections:[1]

• MEC35 14 m @ 3.92 g/t Au from 50 m

• ILRC010 17 m @ 3.48 g/t Au from 37 m

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1. GBM ASX Announcement, 14 Mar 2023, Results of Yandan Mineral Resource Update

12

Yandan Goldfield

Underexplored Tenure with Gold Anomalism

• Large-scale epithermal gold system at Yandan is just the tip of the iceberg

• Yandan Project Resources of 515 koz Au (Historical production and current resources ~824 koz Au)[(1)]

• Mostly on permitted Mining Leases

• 11 known gold systems – Requires further exploration

• Soil samples cover only 8% of the project

• Repeated Felsic intrusions interpreted as magnetic lows with coincident gold soils anomalies

• Illamahta – Undertested multi-kilometre scale epithermal alteration system

• Geophysics, Geochemistry and Geological data currently being modelled to generate tenement wide long-term exploration program

• Aim to generate a pipeline of prospects and grow mineral resources through discovery

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1. GBM ASX Announcement, 14 Mar 2023, Results of Yandan Mineral Resource Update

13

Twin Hills Gold Corridor

Underexplored highly prospective gold trend

• Twin Hills Resources of: >1.0 Moz Au[ 1]

• Large-scale epithermal system with repeat felsic intrusions

• Clear Epithermal Structural Zone connecting Lone Sister and 309 Deposits (Magnetic Low with Au/As in Soils)

• +10 km long Twin Hills corridor with multiple untested / undertested soil & geophysical anomalies

• Broad High-grade gold intersections highlight potential[2] :

Deposit	Hole ID	From	Intercept	Gold (g/t)	Gold (g/m)
309	THRCD875	154 m	140.6 m	5.2 g/t Au	731 g/m
	Incl.	177 m	8.0 m	81.8 g/t Au
309	TRCD384	25 m	190.0 m	2.3 g/t Au	437 g/m
	Incl.		27.0 m	7.3 g/t Au
309	309DD22005	310 m	49.0 m	5.18 g/t Au	253 g/m
Lone Sister	LRCD015	104 m	146.0 m	5.2 g/t Au	1,430 g/m
	Incl.	211 m	28.0 m	45.2 g/t Au
Lone Sister	LRCD063	247 m	20.0 m	14.2 g/t Au	284 g/m

1. GBM ASX Release: 05/12/2022, Twin Hills Gold Project Upgrades to ~ 1 Moz Mineral Resource - Total measured indicated and inferred resource from open pit above 0RL and underground below 0RL

2. GBM ASX Release: 28/04/2023, Compelling Target Areas Identified at Twin Hills

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14

Twin Hills: 309 Deposit – 10.6 Mt @ 1.5 g/t Au for 0.52 Moz Au

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Fully open at depth with grade increasing with depth

• Potential open pit and bulk underground configurations

• Decline down to ~170 m constructed in 2006/2007

• Base of Resource High-Grade Intersections:[1]

• TRCD75 46 m @ 5.54 g/t Au from 297 m

• 309DD22005 49 m @ 5.18 g/t Au from 310 m

• • THRCD827 54 m @ 4.63 g/t Au from 352 m

• Surficial eruption breccia and sinter at the top of a larger epithermal system

• Possible high-grade feeder zone at depth

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• Presence of fluorite suggests proximal felsic intrusion

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Quartz-chalcedony-fluorite breccia fill at 143.7 m in 309DD22011. In an interval of 5 m @ 9.73 g/t Au from 143 m. (HQ Core)

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1 GBM ASX Release: 28/04/2023, Compelling Target Areas Identified at Twin Hills

15

Twin Hills: 309 Exploration Upside

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An underexplored large epithermal system

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NW
309 Deposit
✓ Fully open at depth with grade increasing with depth 10.6 Mt @ 1.5 g/t Au
for 0.52 Moz Au1
✓ Potential open pit and bulk underground configurations with pre-existing
decline down to 170 m (2007) [(1)] 309 High-Grade
▪ IP resistivity anomaly [(2) ] outlines Resource. Chargeable anomaly on margins Open Down Plunge Targets
(Sulphide Halo)
Open
▪ Interpreted multiple ore shoots – resistivity anomalies to South-East
▪ Big System – Untested ‘Coreshed’ target and ‘309 South’ targets
▪ Gold soil anomalies (+10 ppb) at surface coincident with outcropping silicified Open Coreshed
milled matrix breccias Target
NW
309 Down Plunge Coreshed • Surficial Eruption Breccia 309 South 250mRL
High-Grade Targets Poorly tested and Sinter an Expression Untested Resistivity Anomaly
resistivity anomaly Gold in soils and historic drilling
o
f a Large Hydrothermal
NW Open
System SW
0mRL
309 Deposit 3DIP Model Historic Soils
• Resistivity Au ppb
Possible High-Grade (ohm.m)
+530 > 50
feeder zone and Sheeted 309 South
Coreshed 25-50
10-25
Veins at Depth? Target
Open Open 309 South 1 5-10 -250mRL
•
Presence of Abundant Drill collar/trace
Fluorite Suggests
SW
Proximal Felsic Source
Section: 309 Trend 1.8 km NNW Resistivity Trend Parallel to Key Fault Orientation 1. GBM ASX Release: 05/12/2022, Twin Hills Gold Project Upgrades to ~ 1 Moz Mineral Resource - Total measured indicated and inferred resource from
16 open pit above 0RL and underground below 0RL
2. GBM ASX Release: 28/04/2023, Compelling Target Areas Identified at Twin Hills
ML 70316
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1. GBM ASX Release: 28/04/2023, Compelling Target Areas Identified at Twin Hills

16

Twin Hills: Lone Sister Deposit – 12.5 Mt @ 1.2 g/t Au for 0.48 Moz Au

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Fully open at depth with potential bulk mining open pit & underground configurations

• ✓ Hosted in rhyolite with simple geological model

• ✓ Mineralisation from surface

• ✓ Deposit fully open down plunge[1]

• ✓ Felsic host rock with extensive epithermal quartz veining

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Gold Mineralisation (25.3 g/t Au) in Rhylolite at 272.3-273 m in LRCD152 (HQ Core)[1]

1. GBM ASX Release: 05/12/2022, Twin Hills Gold Project Upgrades to ~ 1 Moz Mineral Resource - Total measured indicated and inferred resource from open pit above 0RL and underground below 0RL

17

Valuable Assets in Prime Locations

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GBM is continuing sensible divestment of its non-core assets

Mount Morgan – (GBM 100%, divestment progressing)

• High Potential Gold-copper Tenements (1,017 km[2] )

• Surrounding the World Class historic Mount Morgan Mine (7.7 Moz Gold And 361 Kt Copper)

• In advanced discussions with a party for the sale of the project

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1. GBM ASX Announcement, 18 November 2024, White Dam Gold Project Update

2. GBM ASX Announcement, 10 August 2020, White Dam JORC 2012 Resource of 102 koz, under a JV arrangement and subject to Option to Purchase

Cloncurry Copper – (GBM 44%, Nippon Mining 56%)

• Targeting ISCG and IOCG copper and gold

• Located near Evolution’s Ernest Henry CopperGold Mine

• A$55 M Farm-in for 90%, Nippon (JX Metals Corp.) spend to Sep 23 ~A$18.3 M

• ~$1.0 M in committed programs 2023/24 (Drilling recently completed, awaiting results)

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White Dam Gold Mine – (GBM Divestment in progress)

• Significant gold production this quarter with ~$2 M in gold sales to 27 Nov 24.

• Olary continue to work to secure funding under the term sheet (Refer ASX:GBZ release 8 July 2024) to allow completion. GBM continues to assist Olary as needed.[1]

• GBM continues to have discussions with parties on the sale of the White Dam project.

▪ 102 koz gold JORC resource[(2)]

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White Dam North
Resource Outline
1.2 Mt @ 0.5 g/t Au for
20,300 oz Au
Hannaford Pit
1.7 Mt @ 0.8 g/t Au
for 43,300 oz Au
Vertigo Pit
1.7 Mt @ 0.7 g/t Au
for 38,300 oz Au
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Appendices

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1. GBM ASX Release: 10/05/2022, Impressive drill results at Twin Hills – 49 m @ 5.18 g/t Au

Investment Highlights

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on despite prospectivity gold resources(Charters mond Basin ers (Newmont) /t goldon permitted old Region Drummond Basin Combined(Moz) Wirralie 1.000 Pajingo 5.000 Lone Sister 0.475 Twin Hills 0.546 Yandan 0.879 Glen Eva 0.102 Koala 0.361 Eugenia 0.124 Total: 8.487 District Combined(Moz) Charters Towers 21.220 MtCarlton 1.100 Ravenswood 8.600 Mt Leyshon 3.000 HadleighCastle 0.700 Mt Wright 1.000 Far Fanning 0.152 Total: 35.620	on despite prospectivity gold resources(Charters mond Basin ers (Newmont) /t goldon permitted old Region Drummond Basin Combined(Moz) Wirralie 1.000 Pajingo 5.000 Lone Sister 0.475 Twin Hills 0.546 Yandan 0.879 Glen Eva 0.102 Koala 0.361 Eugenia 0.124 Total: 8.487 District Combined(Moz) Charters Towers 21.220 MtCarlton 1.100 Ravenswood 8.600 Mt Leyshon 3.000 HadleighCastle 0.700 Mt Wright 1.000 Far Fanning 0.152 Total: 35.620	WHITE DAM CLONCURRY JV DRUMMOND BASIN MT MORGAN 500 km	Gold Gold/Copper Phosphorus Mine Priority Project with Initial Resource Key Exploration Project Pipeline Project Copper/Gold
Drummond Basin	Combined(Moz)
Wirralie	1.000
Pajingo	5.000
Lone Sister	0.475
Twin Hills	0.546
Yandan	0.879
Glen Eva	0.102
Koala	0.361
Eugenia	0.124
Total:	8.487
District	Combined(Moz)
Charters Towers	21.220
MtCarlton	1.100
Ravenswood	8.600
Mt Leyshon	3.000
HadleighCastle	0.700
Mt Wright	1.000
Far Fanning	0.152
Total:	35.620

Focus on Australia’s Premier Epithermal Gold Region

• ✓ Drummond Basin neglected of modern exploration despite prospectivity

• ✓ District scale epithermal system with >44.1 Moz gold resources (Charters Towers + Drummond Basin)[1]

• ✓ GBM holds prospective gold tenure in the Drummond Basin

• ✓ Investment and interest from major gold producers (Newmont)

• ✓ 90% of GBM’s Total Resources 1.84 Moz @ 1.3 g/t gold on permitted Mining Licences[2]

• ✓ High Grade gold intersections across all three deposits Yandan, Lone Sister and the 309 Deposit

• ✓ Existing infrastructure: highway, rail, camps, airstrip and power

• ✓ Highly prospective for multiple million-ounce gold discoveries

• ✓ GBM has great value for <$7.00 per EV/oz gold

¹ Past and Present Resources

1. See Appendices

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Joint Ventures

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Retain upside while GBM is focussed on Drummond Basin 100% owned projects

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→ Major International Gold Miner targeting Tier 1 discoveries

Funded exploration by Newmont at Mt Coolon Gold Project → Attracted by Drummond Basin endowment and discovery prospects A$25 M Farm-in for 75%, currently GBM 100%, including commitment for 20,000 m of drilling

Stage 1 interest of 51%, with A$7m expenditure and 10,000 m of drilling → Newmont spend to September 2024 ~A$9.6 M

Drill program commenced in H1 and further ~5,500 m air core (AC) program completed in H2 2024, awaiting results of this AC program.

• → Major International copper miner with smelting, refining and manufacturing business streams

Funded exploration by Nippon Mining Australia (JX Metals Corp) at Cloncurry Copper/Gold Project

A$55 M Farm-in for 90%, currently GBM 44% → Nippon spend to September 2024 ~A$18.7 M

• $1 M exploration program in 2023-2024 year with drilling completed in May/June 2024 (awaiting results) → drilling targets ~7 km to the north of Ernest Henry mine

• → Private Australian discovery focused explorer

Funded exploration by Syndicate Minerals at White Dam Project

A$0.9 M Farm-in for 60% of U, REE, Niobium, Tin, Tantalum, Nickel, Lithium, PGEs and Cobalt.

GBM retains full ownership of all other commodities; heap-leach infrastructure and copper-gold mine production GBM right of a 10% buyback to maintain a 50% interest in any subsequent joint venture

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JORC Resources

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A solid base to build upon

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The announcements containing the Table 1 Checklists of Assessment and Reporting Criteria relating to the 2012 JORC compliant Resources are:

➢ Koala/Glen Eva and Eugenia – GBM ASX Announcement, 4 December 2017, Mt Coolon Gold Project Scoping Study, note these resources have not been verified by Newmont and are on tenements subject to a farm-in agreement with Newcrest (now Newmont)

• ➢

Yandan – GBM ASX Announcement, 23 December 2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition, and GBM Announcement, 14 March 2023, Results of Yandan Mineral Resource Update

• ➢

Twin Hills – GBM ASX Announcements, 18 January 2019, Mount Coolon and Twin Hills Combined Resource Base Approaches 1 Million Ounces and 2 February 2022, Significant Resource Upgrade at Twin Hills Project and 5 December 2022, Twin Hills Gold Project Upgrades to ~1 Moz Mineral Resource. Subject to a partial sale and farm-in agreement with Wise Walkers (to be completed)

• ➢

• White Dam - GBM ASX Announcement, 18 August 2020, White Dam Maiden JORC 2012 Resource of 102 koz

• a)

• The preceding statements of Mineral Resources conforms to the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition”

• b)

All tonnages are dry metric tonnes

• Data is rounded to (‘000 tonnes, 0.0 g/t and ‘000 ounces). Discrepancies in totals may occur due to rounding

• c)

• d)

• Resources have been reported as both open pit and underground with varying cut-off based off several factors as discussed in the corresponding Table 1 which can be found with the original ASX announcement for each Resources.

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