GREAT DIVIDE MINING LTD — Investor Presentation 2025

Oct 14, 2025

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Australian Gold Conference

Australia’s Newest Gold Producer

Great Divide Mining Ltd

ACN 655 868 803 ASX:GDM 28 July, 2025

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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.

The information in this announcement that relates to Exploration Results based on information compiled by Mr Justin Haines who is CEO of Great Divide Mining Ltd and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and a Member of the Australian Institute of Geo scientists (AIG). Mr Haines has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity that is being undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Haines is an employee of GDM, and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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

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GREAT DIVIDE MINING

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GDM

… from listed Explorer, 25 Aug 2023 16 Jul 2025 ... to Miner & Producer, ... in under 2-Years

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Contents

1.Why Gold ?

2.Why GDM ?

3.About GDM.

4.Our First Two Years.

5.Our Projects.

• 6.Our Next Two Years.

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WHY GOLD?

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Lithium Prices for last 5-years - $US/Kg

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https://www.dailymetalprice.com/metalpricecharts.php?c=li&u=kg&d=1200

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WHY GOLD?

Gold Prices for last 100-years - $US/oz

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https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

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WHY GDM?

• Focus on cashflow

• Targeting production while prices increasing

• Exploration upside, de-risked by production

• Hands-on team supplemented with experienced contractors

• Low-cost and rapid commercialisation

• Brown-field strategy

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ABOUT GDM

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GDM share price since listing Aug 2023

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asx:gdm

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GDM’S FIRST TWO YEARS Challenger Mine Gold • 51% equity in Challenger Gold Mine and Processing Plant, First pour July 2025 • Continuous production pending minor low CAPEX upgrade • Near-mine resources upside Devil’s Mountain Gold Copper • Gympie look-alike within 2 hours of Brisbane • Expanded potential strike length from 4.5 to 7.7 km • Over 600 historic workings, over 20 mine entrances and numerous shafts. Coonambula Antimony Gold • Farm-out to Dart Mining NL (ASX:DTM) • Geophysics and drilling underway Yellow Jack Gold Antimony • Initial JORC Mineral Resource Estimate of 1.84 Mt @ 0.86 g/t for 51,000 Oz • Maiden drilling completed, mineralisation open • ML application pending processing agreement Cape Gold Copper REE • Hematite-quartz outcrops @ 4.4 g/t Gold and anomalous REE and lithium fertility • Multiple targets for follow-up	GDM’S FIRST TWO YEARS Challenger Mine Gold • 51% equity in Challenger Gold Mine and Processing Plant, First pour July 2025 • Continuous production pending minor low CAPEX upgrade • Near-mine resources upside Devil’s Mountain Gold Copper • Gympie look-alike within 2 hours of Brisbane • Expanded potential strike length from 4.5 to 7.7 km • Over 600 historic workings, over 20 mine entrances and numerous shafts. Coonambula Antimony Gold • Farm-out to Dart Mining NL (ASX:DTM) • Geophysics and drilling underway Yellow Jack Gold Antimony • Initial JORC Mineral Resource Estimate of 1.84 Mt @ 0.86 g/t for 51,000 Oz • Maiden drilling completed, mineralisation open • ML application pending processing agreement Cape Gold Copper REE • Hematite-quartz outcrops @ 4.4 g/t Gold and anomalous REE and lithium fertility • Multiple targets for follow-up	GDM’S FIRST TWO YEARS Challenger Mine Gold • 51% equity in Challenger Gold Mine and Processing Plant, First pour July 2025 • Continuous production pending minor low CAPEX upgrade • Near-mine resources upside Devil’s Mountain Gold Copper • Gympie look-alike within 2 hours of Brisbane • Expanded potential strike length from 4.5 to 7.7 km • Over 600 historic workings, over 20 mine entrances and numerous shafts. Coonambula Antimony Gold • Farm-out to Dart Mining NL (ASX:DTM) • Geophysics and drilling underway Yellow Jack Gold Antimony • Initial JORC Mineral Resource Estimate of 1.84 Mt @ 0.86 g/t for 51,000 Oz • Maiden drilling completed, mineralisation open • ML application pending processing agreement Cape Gold Copper REE • Hematite-quartz outcrops @ 4.4 g/t Gold and anomalous REE and lithium fertility • Multiple targets for follow-up
Challenger Mine	Gold	• 51% equity in Challenger Gold Mine and Processing Plant, First pour July 2025 • Continuous production pending minor low CAPEX upgrade • Near-mine resources upside
Devil’s Mountain	Gold Copper	• Gympie look-alike within 2 hours of Brisbane • Expanded potential strike length from 4.5 to 7.7 km • Over 600 historic workings, over 20 mine entrances and numerous shafts.
Coonambula	Antimony Gold	• Farm-out to Dart Mining NL (ASX:DTM) • Geophysics and drilling underway
Yellow Jack	Gold Antimony	• Initial JORC Mineral Resource Estimate of 1.84 Mt @ 0.86 g/t for 51,000 Oz • Maiden drilling completed, mineralisation open • ML application pending processing agreement
Cape	Gold Copper REE	• Hematite-quartz outcrops @ 4.4 g/t Gold and anomalous REE and lithium fertility • Multiple targets for follow-up

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OUR PROJECTS

GDM … from listed Explorer to Miner & Producer in under 2-Years

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CHALLENGER GOLD MINE

Existing gold miner and producer in historically proven area

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800 Koz historical production @ up to 45g/t 68 km[2] Exploration permit; 1.5 km[2] Mining permit 188 Koz JORC Resource Open-cut & under-ground opportunities Operating permits in place Existing processing infrastructure

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CHALLENGER KEY METRICS

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• Resources 80,000 Oz at • Historical mining produced 800,000 Oz – 400,00 alluvial and 400,000 underground Challenger + • ML has 5 known reefs, none drilled out; EL has over 10 more reefs, little drilling targets • Challenger is first defined resource; not closed off at depth

• • Global resources 188,000 Oz is shallow only

• Mine Existing • Existing decline to Challenger main orebody ~70,000 Oz in optimised shell Decline + • Open cut potential at Challenger Extended orebody ~9,000 Oz in optimised shell Potential • OC mining study to progress initial mining phase, UG drilling to confirm UG resources Open Cut • Expect to commence OC mining end of FY2026

• Plant Existing 25 • Existing crushing and milling circuit plus gravity recoverable gold plant to produce high tph + grade concentrate expansion • No chemicals on site, recycled water

• • No tailings dam – sand tails to quarry products

• Approvals 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 No issues • Significant support from local community & Social • Majority of personnel and services available locally • Active engagement with community

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CHALLENGER RESOURCES

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Historic Mine Plan with resources envelopes

• Proposed mining areas limited to drilling

• Historic mined

areas contain significant resources

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QUEENSLAND EXPLORATION ASSETS

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Gold - Antimony - Copper

4 gold and critical metals exploration projects in Queensland;

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15 highly prospective exploration tenements with work on-ground already undertaken by GDM

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High grade mineralisation in historic workings

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Brown-field permitting & de-risking opportunities

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JORC resource estimate 51kOz at Yellow Jack

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High priority untested drilling targets open at depth and along periphery

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

Paul Ryan Chairman Great Divide Mining

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COONAMBULA

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Advanced Antimony and Gold exploration near historic mines in known gold region

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Farm-out to Dart Mining NL (ASX:DTM) - $250,000 for initial 15% equity, increasing to 51% on completion of 4,000m of drilling and 2 resource reports.

Coonambula hosts numerous historic mines near Gympie (3.7 Moz) and Cracow (1.2 Moz) gold mines

Banshee:

• Surface grades up to 44.9% Sb

• Trench sampling confirmed high grade Antimony and Gold incl. Au @ 9.93 g/t

• 2014 drilling highlights: 6m at 5.1% Sb and 1.5 g/t Au from 77m and 3m at 9.2% Sb from 158m

Perseverance:

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DTM has rapidly advanced exploration at the historic Banshee Antimony mine.

Confirmed high grade Antimony and Gold at Banshee prospect. Au @ 9.93 g/t. ASX Report Q2 FY25

• Mining grades of up to 71 g/t Au

• • 20kt @ 20 g/t Au for 13,000 oz mined

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COONAMBULA EXPLORATION

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“GDM’s strategic partnership with DTM has proven a win-win for both Companies.”

Justin Haines CEO, Great Divide Mining

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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

LiDAR survey reveals over 400 historic workings, 12 mine entrances and 7 shafts.

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LiDAR analysis: 204 historic mine workings, 7 shafts, 185 other workings. Jan 2025

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YELLOW JACK

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

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Extensive historical drilling across 170+ open holes GDM completed 17 RC and 3 cored holes - Dec 2023 7m @ 4.1g/t Au, 16m @ 3.5g/t Au, with historic resource of shallow oxide gold, open in all directions Located near existing process plants – low development capex and low processing opex Environmental studies completed, mine planning underway MOU signed with Great Eastern Gold to process Yellow Jack ore at the former Big Rush Mine site

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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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GDM’S NEXT TWO YEARS

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Challenger Mine	Gold	• Develop continuous mining operation at >15,000 kOz per annum then scale up • Undertake resource expansion drilling, expand mining to suit
Devil’s Mountain	Gold Copper	• Advance exploration at Devils Mountain Gold prospect –define gold resource • Advance Gibraltar Rock Copper Porphyry – define copper resource • Commence exploration at Kilkivan Prospect – define carry-forward targets
Yellow Jack	Gold Antimony	• Finalise processing agreement/s, complete mine planning, finalise mining lease application • Commence mining operations
Coonambula	Antimony Gold	• Work with DTM as they transition to 51% equity • Drilling and resource at Banshee, advance exploration at Perseverance Gold Prospect • Mining lease applicationat Banshee Antimony
Cape	Gold Copper REE	• Advance exploration at Cape Gold Prospect • Define gold + REE + Lithium targets
Other	Gold	• Assess and acquire additional gold production opportunities

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SUMMARY

“ Great Divide Mining will own, mine, process and sell its’ own resources”

Justin Haines CEO Great Divide Mining

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

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

Paul Ryan Chairman Great Divide Mining

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