GREAT DIVIDE MINING LTD — AGM Information 2025

Nov 27, 2025

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Great Divide Mining Ltd (ASX:GDM) 2025 AGM Presentation

AUSTRALIA’S NEWEST GOLD PRODUCER*

Great Divide Mining Ltd

ACN 655 868 803 ASX:GDM

*Subject to recommencement of the Challenger Mine which is conditional on Resolution of the Adelong Venture dispute.

DISCLAIMER

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Nature of Document : This presentation has been prepared and issued by Great Divide Mining Ltd (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a reader should consider in evaluating the Company. While management has taken every effort to ensure the accuracy of the material in this presentation, the Company have not verified the accuracy or completeness of the material contained in this presentation.

Not an offer : this presentation should not be distributed, transmitted, or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

Not financial product advice : You should not act and should refrain from acting in reliance on this presentation. Nothing contained in this presentation constitutes investment, legal, tax or other advice. This presentation does not take into account the individual investment objectives, financial situation and particular needs of potential investors. Before making a decision to invest in the Company at any time, you should conduct, with the assistance of your broker or other financial or professional adviser, your own investigation in light of your particular investment needs, objectives and financial circumstances and perform your own analysis of the Company before making any investment decision.

Forward looking statements : This presentation contains forward-looking information about the Company and its operations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements.

Disclaimer : No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or proved correct. Except for statutory liability which cannot be excluded, the Company, its directors, officers, and employees expressly disclaim any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. This document should be read in conjunction with ASX releases by the Company, copies of which will be available on the Company’s website.

Competent Person’s Statement : The information in this Presentation that relates Exploration Results or Exploration Targets is based on, and fairly represents, information and supporting documentation compiled by the Company and reviewed by Mr Justin Haines, of Great Divide Mining Ltd, a Competent Person who is a Fellow of the Australasian Institute of Mining and mineralogy and a Member of the Australian Institute of Geoscientists. Mr Haines has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Haines consents to the inclusion of the matters based on his information in the form and context in which it appears in this Presentation.

Historical Exploration Results : The information in this announcement that relates to exploration results is extracted from the Company’s prospectus dated 26 May 2023. The Company confirms that it is not aware of any new information or data that materially affects the information reported in the Prospectus and nothing has come to the attention of the Company that causes it to question the accuracy and reliability of any historic exploration.

Great Divide Mining Limited ACN 655 868 803

GREAT DIVIDE MINING

ASX:GDM

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GREAT DIVIDE MINING

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“ “ GDM GREAT DIVIDE MINING … from listed Explorer, 25 Aug 2023 will Own, Mine and Process its’ Resources. 16 Jul 2025 ... to Miner & Producer,

... in under 2-Years

e. http://justin.haines@greatdividemining.com.au

GREAT DIVIDE MINING

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GDM SNAPSHOT

Farm-in* to the Adelong Venture and 1[st] Gold Production has transitioned the company to miner and producer.

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Farm-out of the Coonambula Project to Dart Mining (ASX:DTM)

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MOU with Native Resource Minerals (ASX:NRM) to process Yellow Jack ore - mining lease application being advanced

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Continuing work at 4 gold and critical metals exploration projects in Queensland

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Strong cash position with $1.78m in hand at end of Q1FY26

High grade Antimony at Banshee Prospect identified in ongoing DTM drilling

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High grade mineralisation in historic workings across multiple sites allows brown-field permitting opportunities

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The acquisition* of the Adelong mine & processing plant leapfrogs GDM ahead of “small-cap resource companies”

• The farm-in joint venture with Adelong Gold Ltd (ASX:ADG) is currently in dispute.

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CHALLENGER GOLD MINE*

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Existing gold mine in historically proven area

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Term Sheet Agreed October 2024 DD Completed and Definitive Agreements executed March 2025

1[st] Gold Pour July 2025

GDM proven capability and capacity

Challenger Plant expansion ready

Low-cost initial production potential

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* Subject to Shareholder Approval
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GDM will review and optimise the Challenger Gold Mine operating plan

• The farm-in joint venture with Adelong Gold Ltd (ASX:ADG) is currently in dispute.

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CHALLENGER GOLD MINE*

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~~“~~ Resources	Existing Challenger Resource + targets	• Historical gold field produced 800,000 Oz – 400,000 Oz from alluvial and 400,000 Oz from underground • ML has 5 known reefs, none drilled out; EL has over 10 more reefs, little drilling • Challenger is first defined resource; not closed off at depth • Global resources are shallow only
GREAT DIVID will Own, Min ~~it’ R~~ Mine	E MINING e and Process Existing Decline + Potential Open Cut	• Existing decline to Challenger main orebody • Open cut potential at Challenger Extended orebody • OC mining study to progress initial mining phase, UG drilling to confirm UG resources • Expect to commence OC mining end of FY2026
~~s esource~~ Justin Haines CEO GreatDivideMining Plant	~~.~~ Existing 25 tph + expansion	• Existing crushing and milling circuit plus gravity recoverable gold plant to produce high grade concentrate • No chemicals on site, recycled water • No tailings dam – sand tails to quarry products
e. http://justin.haines@grea m. 0418 876 420 Approvals	tdividemining.com.au All in place	• 1990 EIS and 1996 EPL valid • Snowy Valley Council DA’s in place including for quarry products • ILUA with Traditional Owners in place
Environmental & Social	No issues	• Significant support from local community • Majority of personnel and services available locally • Active engagement with community

• The farm-in joint venture with Adelong Gold Ltd (ASX:ADG) is currently in dispute.

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CHALLENGER* CONT’D

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• The farm-in joint venture with Adelong Gold Ltd (ASX:ADG) is currently in dispute.

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COONAMBULA

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Advanced Antimony and Gold Exploration near historic mines

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Farm-out to Dart Mining (ASX:DTM) completed June 2025 Primary focus: historic Banshee AntimonyGold Mine DTM commenced drilling October 2025, initial results confirm historic high grade antimony* DTM commenced IP survey September 2025 DTM on-track to deliver 2,000m of drilling in 2025

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*refer to GDM ASX Announcement of 10 November 2025 “First High-Grade Antimony and Gold Drilling Results at Coonambula”

ASX:GDM

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YELLOW JACK

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Advanced Gold project - Initial JORC Mineral Resource Estimate - 51kOz Gold.

MOU signed with Native Mineral Resources (ASX:NMR) to process Yellow Jack ore at NMR’s Blackjack Plant Mining Lease application progressing with mine planning underway and environmental permitting works Planning underway for a low capex, low opex and low impact mine Existing 51,000 Oz resource of shallow oxide gold, open in all directions* Extensive historical drilling across 170+ open holes with GDM completing 17 RC and 3 cored holes in Dec 2023

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*GDM ASX Announcement of 4 October 2023 “51,100 oz Gold Initial JORC Mineral Resource Estimate at Yellow Jack”

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DEVILS MOUNTAIN

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Advanced Gold and Copper project centered within historic gold mine area

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Extensive historic workings + limited modern
exploration = significant upside potential
Historical drill intercepts:-
• 7m @ 11.45g/t Au
• 3m @ 4.51 g/t Au
• 2m @ 11.04g/t Au
Rock chip samples:- 14 samples @ 15 g/t Au,
44 samples @ 2+ g/t Au
Thirteen historical trenches:-
• 4.5m @ 5.51 g/t Au
• 7m @ 4.01 g/t Au
Significant Gibraltar porphyry drilling
intercepts:
• 26m @ 0.2% Cu
• 90m @ 0.13% Cu, 0.13% Zn and 0.06% Pb
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*Refer to ASX:GDM Prospectus 2023 for further information

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CAPE

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Two significant historical exploration sites

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Three tenements at Bonanza and New Goldfield Bonanza, a copper-gold project, is within the Chillagoe Formation which hosts the Mungana and Red Dome deposits New Goldfield has significant REE – Rare Earth Elements in stream sediments + high-grade gold in rock chips. Chevy Creek gold prospect includes channel samples of 170m @ 3.3 g/t Au Hematite-quartz vein outcrops - 4.4 g/t Au

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*Refer to ASX:GDM Prospectus 2023 for further information

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CORPORATE INFORMATION

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ASX Code	ASX:GDM		Board & Management	Board & Management
Share Price1	$0.35		Paul Ryan	Non-Exec Chairman
Market Cap1, 2	$15.8 million		Adam Arkinstall	Non-Exec Director
Shares on Issue2	45,163,833		Simon Tolhurst	Non-Exec Director
Directors & Management	15%		Justin Haines	Chief Executive Officer
Top 20	61.0%		Lindsay Marshall	Chief Financial Officer
Total Shareholders1	519		Craig McPherson	Company Secretary

1. As at 27 November 2025

1. The Company has a further 1,230,000 convertible notes with a face value of $1.00 and 17,123,000 unlisted options on issue.

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SUMMARY

“ “ GREAT DIVIDE MINING will Own, Mine and Process its’ Resources.

Every brown-field site recommissioned, means we’ve protected another piece of the environment.

Justin Haines CEO Great Divide Mining

Paul Ryan Chairman Great Divide Mining

e. http://justin.haines@greatdividemining.com.au m. 0418 876 420

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