LEEUWIN METALS LTD — Investor Presentation 2024

Dec 19, 2024

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Marda Gold Project Acquisition

An outstanding opportunity to create rapid growth via exploration of a well established mineralised system in the heart of WA

Extensive known mineralisation Numerous well-defined drill targets Close to several operating mills in the region Leeuwin highly leveraged to exploration success

Motivated by discovery

ASX: LM1 - Investor Presentation December 2024

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Visit Our Website Leeuwinmetals.com

IMPORTANT NOTICES AND DISCLAIMER

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Important information: Leeuwin Metals Ltd (ASX LM1) ACN 656 057 215 (the "Company") is the issuer of this presentation.

Not a disclosure document

This presentation is not a disclosure document for the purposes of Chapter 6D of the Corporations Act 2001 (Cth) ("Corporations Act") and does not purport to include the information required of such a disclosure document. It has not been lodged with or approved by any regulatory authority, such as the Australian Securities and Investments Commission ("ASIC") or the Australian Securities Exchange ("ASX").

No New Information or Data

The information presented in this presentation that refers to exploration results, have been initially disclosed in accordance with ASX Listing Rule 5.7 in the Company's ASX release on 20/12/2024. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Nature of mineral exploration risks

This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company. The mineral tenements of the Company as described in this presentation are at various stages of exploration, and potential investors should understand that mineral exploration and development are high-risk undertakings. Some of the tenements are in the application stage only and there is no guarantee the applications will be granted by the responsible minister or governmental decision maker having jurisdiction. There can be no assurance that exploration of the tenements, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

No other material authorised

The Company has not authorised any person to give any information or make any representation in connection with any proposed offer of securities. A prospective investor cannot rely upon any information or representations not contained in this presentation.

Forward-looking statements

This presentation may contain forward-looking statements. Those forward-looking statements reflect views held only as at the date of this presentation. Any such statement is subject to inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied in any forward- looking statement, and such deviations are both normal and to be expected. Recipients must make their own assessment about the likelihood of a matter, about which a forwardlooking statement is made, occurring. The Company makes no representation about the likelihood of a matter, about which a forward-looking statement is made, occurring. No representation or warranty is given, and nothing in this presentation or any other information made available by the Company, or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses, projects and operations of the Company. The Company and its directors, employees, agents, representatives, advisers and consultants: give no representation or warranty to a recipient of this presentation as to the accuracy or completeness of the statements contained in this presentation or in relation to any other matter; and to the fullest extent permitted by law, disclaim responsibility for and have no liability to a recipient of this presentation for any error or omission in or for any statement in this presentation, including if due to any negligence, fault or breach of duty of any type.

Reliance on presentation

A recipient of this presentation must make their own assessment of the matters contained herein and rely on their own investigations and judgment in making an investment in the Company. This presentation does not purport to contain all of the information a recipient of this presentation requires to make an informed decision whether to invest in the Company. Specifically, this presentation does not purport to contain all the information that investors and their professional advisers would reasonably require to make an informed assessment of the Company’s assets and liabilities, financial position and performance, profits, losses and prospects.

Not a recommendation or financial advice

The information in this presentation is not a recommendation to subscribe for securities in the Company and does not constitute financial advice. Any person who intends to subscribe for securities must conduct their own investigations, assessment and analysis of the Company and its operations and prospects and must base their investment decision solely on those investigations and that assessment and analysis. Prospective investors should consult their own legal, accounting and financial advisers about an investment in the Company.

Acceptance

By attending a presentation or briefing, or accepting, accessing or reviewing this document you explicitly acknowledge, accept and agree to the matters stated in this Important Notices and Disclaimer section.

Authorisation

This document has been authorised for release by the Company’s Board of Directors and is current as at 20 December 2024.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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MARDA GOLD PROJECT INVESTMENT SUMMARY

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100% Ownership of granted Proven gold belt Low cost acquisition
mining leases in Western with multiple high grade creating long term
Australia drill intercepts shareholder value
Ramelius Resources to
A leadership team with
Strategic location &
become a strategic
proven success in the
infrastructure access
shareholder
resources sector
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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

LEEUWIN IS HIGHLY LEVERAGED TO EXPLORATION SUCCESS

MARDA GOLD PROJECT

Transformational Acquisition: The acquisition of the Marda Gold Project marks a significant step forward for Leeuwin Metals , providing a strategic foothold in the prolific Goldfields region of Western Australia. This project serves as a strong platform for future growth and value creation.

• Upfront Cost: Initial upfront consideration of $500,000 , to be settled via the issue of Leeuwin Metals (ASX: LM1) shares at the 10-day VWAP upon completion.

• Milestone Payments: Additional milestone-linked payments totaling $1.5 million . Strategic Shareholder: Ramelius Resources Limited (ASX: RMS) , a respected leader in the gold mining industry, will join Leeuwin’s register as a strategic shareholder , underscoring confidence in the asset's potential and future development.

Under-explored high-grade potential:

The project contains multiple high-grade drill intercepts requiring follow-up, with targets offering significant discovery potential and ranking as high exploration priorities.

Prospect Intercept Evanston 2m @ 16.75g/t Aufrom 12m (NRC043) 3.6m @ 16.4g/t Aufrom 1m (EDM003) 8m @ 5.76 g/t Aufrom 8m (ERC147) Evanston South 3m @ 7.9g/t Aufrom 33m (BPRC001) 6m @ 2.36g/t Aufrom 36m (BPRC002) Taipan 1m @ 15.84g/t Aufrom 47m (MRC248) 12m @ 1.52g/t Aufrom 36m (MRC245) 1m @ 27.75g/t Aufrom 31m (MAR111) Prospect Intercept Red Legs 3m @ 22.36g/t Aufrom 18m (MB1532) 1m @ 9.68g/t Aufrom 40 (MB1557) 7m @ 7.16g/t Aufrom 40 (MB1531) Die Hardy 7m @ 2.32g/t Aufrom 97m (FBRC0128) 1m @ 5.89g/t Aufrom 24m (GB014) Mt King 5m @ 7.47g/t Aufrom 120m (MKC003) 4m @ 7.27g/t Aufrom 70m (MKC006) 12m @ 2.17g/t Aufrom 12m (GB306)

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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MARDA GOLD PROJECT KEY TARGETS FOR 2025 EXPLORATION

HIGH IMPACT EXPLORATION WITH POTENTIAL FOR DISCOVERY IN WA

MARDA GOLD PROJECT ACQUISITION MARDA KEY HIGHLIGHTS

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Location & Tenure Highly Prospective Region Prime Location: 120km north of Southern Cross, Favorable Geology: Gold mineralisation is 400km northeast of Perth. hosted in Banded Iron Formations (BIFs) and Extensive Footprint: 510km² of tenure with 100% quartz veining, Located within the Youanmi ownership across mining and exploration Terrane, part of the Marda-Diemals leases. Greenstone Belt . Exploration Upside: Multiple historical workings for new highlight significant potential discoveries and expansion of existing mineralisation. Processing Hubs Nearby Multiple plants within the region, including Edna May (Ramelius Resources, ASX: RMS), just ~170km away. A Region Shaped by Gold and Iron Heritage Proven Legacy of Gold and Iron Mining Gold by Ramelius, Iron by Mineral Resources. Gold mining in the region dates back to 1901, Proven Track Mining Record with multiple shafts and workings throughout Previously mined by Ramelius Resources (RMS), . the project area producing 2.3Mt @ 1.9g/t Au (143koz) from Historical production Evanston occurred seven pits (2019–2023). between 1937–1951 and 1998–2000. Shallow open pits extend to only 50–70m Untapped Potential: Limited exploration as a depths , demonstrating strong operational non-core asset for Ramelius presents a feasibility and resource continuity. substantial opportunity for Leeuwin.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

GOLD

MARDA CENTRAL

Limited exploratiHigh Priority Exploration on Granted Mining Leasen outside of Mine area within the 3km of strike

Advance exploration targets within the +3km mine trend

4 open pits with mining within the top 50m

• Multiple areas for follow up within mine trend defined by BIF’s within mining lease

Multiple High Impact Target Areas

• Dolly Pot-Dugite-Python-Goldstream: Multiple drill targets along strike and at depth of existing pits

• Cobra: priority target with 200m strike defined already 1m @ 42 g/t Au

• Taipan: priority target with 300m strike defined already 1m @ 15.84 g/t Au

• 1m @ 27.75g/t Au

• Marda 4: 100m strike

• 18m @ 1.68g/t Au 28m @ 1.52g/t Au

• Multiple workings remain underexplored within the mining lease

Geology

• Deposits are characterised by quartz veining within BIF’s

• BIF extensions remains a high priority target within M 77/394

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Map projection MGA94 z50. All drill results stated are unmined.

Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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MARDA CENTRAL

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EXISTING MINES

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Gold Stream Marda Central
Python
Trend
Dugite
Dolly Pot
RMS HISTORICAL
PRODUCTION
FROM MARDA
2.3 MT @ 1.9 G/T
FOR 143 KOZ
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Historical Workings within the
Marda Central Project area
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*For detailed information, please refer to Ramelius Resources' Annual Report released on 18 October 2024.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

GOLD

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EVANSTON - MARDA NORTH

Under explored historic pits with limited modern exploration

Exploration Potential with Multiple stacked veins

• Limited follow up drilling, open in all directions within +1.4km of surface strike extents

Geology

• Strike Extensions within Underexplored BIF Unit with mineralisation dipping 30 degrees to the north west

Mineralisation has been defined within top 20m vertical, open in all directions

High Impact Target Areas with Multiple +5g/t intercepts

• Significant high grade intercepts include;

• 3m @ 7.9g/t Au

• 2m @ 16.75g/t Au

• 3.6m @ 16.4g/t Au

• 8m @ 5.76g/t Au

Surface Exploration to generate new drill targets

• Multiple areas require mapping and rock chip sampling within the +4.5km of strike of the tenement

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Interpreted Surface Expression
at Evanston
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Map projection MGA94 z50. All drill results stated are unmined.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

MARDA EXISTING MINES

Evanston Mine Trend

Stacked Mineralised Structures in Evanston Pit Wall

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Open

View Looking South West at Evanston Mine

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

GOLD

MARDA NORTH

Multiple High-Grade Target Areas

Die Hardy

• Shallow single open pit mined within the top 50m, with a total production by Ramelius of 35.4koz @ 1.69g/t Au

• Untested at depth and along strike, presenting significant potential for expansion

Mt King

• Limited historical drilling has revealed high-grade shoots, significant results include:

• 15m @ 7.47g/t Au

• 4m @ 7.27g/t Au

• The area remains underexplored, with vein and BIF-associated high-grade zones evident near numerous historical workings

Red Legs

• Requires follow-up drilling to evaluate growth potential

• Mineralisation occurs within BIF, influenced by supergene enrichment, suggesting near-surface and structurally controlled opportunities for expansion

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Map projection MGA94 z50. All drill results stated are unmined.

Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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GOLD

MARDA SOUTH

Advanced exploration targets within mine trend with 1 open pit with mining within the top 50m

Exploration Potential

Untested extensions within the +3km mine trend offer opportunities for further highgrade discoveries within the mining lease

High-Grade Zones

• Multiple significant drill intercepts for follow up, including Golden Orb (2m @ 9.1 g/t), indicate strong potential for expansion

Strike Extensions within Underexplored BIF Unit

• The BIF unit remains largely underexplored, providing a promising target for future drilling campaigns

• Golden Orb (600m strike) and Golden Orb West (200m strike) remain open along strike and at depth, suggesting further high-grade continuity

Multiple Targets

Targets such as Humm and Rattle demonstrate broad mineralisation potential with +1 g/t intercepts in RAB drilling

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Map projection MGA94 z50. All drill results stated are unmined.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

GOLD MARDA WEST

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Multiple Target Areas

Exploration Potential

• Untested extensions across multiple prospects

Majority of drilling is RAB with limited RC drilling outside of known prospects

High-Grade Zones

• Significant drill intercepts for follow up beneath exiting pit, including: 2m @ 8.8g/t Au

• 1m @ 26.8g/t Au

King Brown West has multiple drill intercepts for follow up and remains open at depth and along strike

Strike Extensions within Underexplored Units

• BIF-Mafic contact remain a key target Targeting veins associated with BIF unit

Multiple Targets

Footwall targets at King Brown West is a priority area for further exploration

Map projection MGA94 z50. All drill results stated are unmined.

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

CORPORATE & EXPLORATION TIMELINE

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Well funded with multiple catalysts in 2025

Exploration Approach

Near Mine: Focus on existing mining leases to test extensions of ore bodies Brownfields: Testing historical anomalies targeting new ideas and depth potential Greenfields: Grass roots exploration, review of historical data, mapping, soil sampling, auger and rock chipping

Q4 2024 Q1 CY2025 Q2 CY2025 Q3 CY2025 Q4 CY2025 CORPORATE Completion of Marda Acquisition EXPLORATION ACTIVITIES Marda Gold Drilling Regional Exploration West Pilbara Iron Tenure Grant Exploration Heritage & Drill Permitting Cross Lake Lithium Project Drilling Prospecting

Note: Future activities are indicative and subject to change.

Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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ABOUT LEEUWIN

Leeuwin Metals Ltd (ASX: LM1) is an ASX-listed exploration company focused on discovering and developing high-value mineral resources across a diversified portfolio.

Why Marda Gold:

Proven Mining History: Established open pits and drill intercepts on granted Mining Leases

Strategic Location: Close to infrastructure, granted mining leases and processing hubs, reducing time to production.

Diversification: Complements our portfolio of critical metals with exposure to gold in a world class jurisdiction.

Our Portfolio:

Marda Gold Project (Western Australia): A transformative acquisition, the Marda Gold Project adds a significant precious metal asset to our portfolio, with a strong potential for growth. The project is strategically located near key infrastructure and processing facilities.

West Pilbara Iron Ore Project (Western Australia): Featuring high-grade iron ore (>50% Fe) over a 2.4-kilometre strike length, strategically located near Rio Tinto’s Mesa A mine.

Nickel, Copper, PGE, and Lithium Projects (Canada and Western Australia): Highly prospective exploration targets supporting the global demand for critical battery metals in North America, with strong exploration upside.

Our Vision:

To responsibly explore and develop projects, leveraging opportunities to enhance shareholder value through discovery.

Led by an experienced team with expertise in project generation, discovery, development, operations, and transactions, Leeuwin Metals is positioned to unlock significant value from the Marda Gold Project and our broader portfolio.

Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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LEEUWIN METALS

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CORPORATE OVERVIEW

ASX Code	LM1
Shares on issue	63.4M
Market Capitalisation (as at 19/12/24)	$3.8m
Enterprise Value	$2.2m
Cash at bank (as at 30/09/24)	$1.6m

Significant shareholders

Top 20 shareholders	61%
Board & management	30%
Glencore	9.97%
Australian institutions	6%

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SIMON JACKSON

Non-Executive Director, Corporate

Highly Experienced in Corporate Finance, Investment Banking & Corporate Management.

Mr. Jackson is currently Non-executive Chairman of Predictive Discovery (ASX.PDI) and Non-executive Director of Resolute Mining (ASX.RSG).

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SCOTT WILLIAMSON

Non-Executive Director, Mining Engineer

Mining Engineer with a unique blend of experience in mining and finance and is passionate about mining green. Mr. Williamson is the founder and currently the Managing Director of Blackstone Minerals Ltd (ASX.BSX).

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CHRISTOPHER PIGGOTT

Founder, Chairman, Geologist

Geologist with extensive background in gold and nickel exploration with a track record of discovery and corporate development.

Recent roles included Senior Geologist at Bellevue Gold Ltd (ASX.BGL) where he was involved in the discoveries of Tribune, Viago & Deacon, that have defined +3Moz.

He was also a part of the team that defined the Nova-Bollinger high grade Nickel deposit which is now owned and operated by IGO Ltd (ASX.IGO).

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NICHOLAS KATRIS

Founder, Company Secretary, Corporate

Experienced executive with extensive background in corporate advisory, including ASX IPO’s and management of publicly listed companies.

Currently the Non-Executive Director of Trigg Minerals (ASX.TMG), Company Secretary for Perpetual Resources (ASX.PEC).

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Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com

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Contact Us

Christopher Piggott Managing Director +61 8 6556 6427

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info@leeuwinmetals.com Leeuwin Metals Ltd

Leeuwin Metals Ltd ASX:LM1 | www.leeuwinmetals.com