Announcement PDF ASX:WIN winmetals.com.au New Strategic Focus on Gold 20 February 2025- RIU Explorers Conference, Fremantle WA Important Notice and Disclaimer Summary information This presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose without the prior written approval of WIN Metals Limited . The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. This presentation may not be distributed or released in the United States. 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This presentation is for information purposes only and is not financial product or investment advice, nor a recommendation to acquire securities in the Company (or any interest in Company securities). It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction. Past performance Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as an indication of (and gives no guidance as to) future performance. Forward-looking information This presentation contains certain forward-looking statements with respect to the operations and business of the Company and certain plans and objectives of the management of the Company. Forward looking statements include those containing such words as "anticipate", "estimates", "forecasts", "should", "could", "may", "intends", "will", "expects", "plans" or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, 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 range of variables and changes in underlying assumptions which could cause actual results or trends to differ materially. WIN Metals Limited does not make any representation or warranty as to the accuracy of such statements or assumptions. No liability This presentation has been prepared by WIN Metals Limited based on information currently available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Recipients should carry out their own investigations and analysis of the Company and verify the accuracy, reliability and completeness of the information contained in this presentation or any other form of communication to which the recipient is permitted access in the course of evaluating any investment in the Company. To the maximum extent permitted by law, none of WIN Metals Limited or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liability for any loss arising from the use of or reliance on this presentation or its contents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence on the part of WIN Metals Limited or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party. Financial data All figures in the presentation are Australian dollars ($ or A$) unless stated otherwise. A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this presentation. Photographs and diagrams Photographs and diagrams in the presentation are for illustration purposes only and should not be interpreted to mean that any person shown in them endorses this presentation or its contents or that the assets shown in them are owned by WIN Metals Limited. Diagrams and maps used in this presentation are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available as at the date of this presentation. Compliance Statement The information in this presentation that relates to estimates of Gold Mineral Resources for the Butchers Creek Project has been extracted from the Company’s ASX Announcement titled “Butchers Creek Gold Project MRE and Exploration Results - Amended” dated 11 September 2024. The information in this presentation that relates to estimates of Nickel Mineral Resources for the Mt Edwards Project has been extracted from the Company’s ASX Announcement titled “Munda Agreement with Auric Mining Ltd yields $1.2m+ for WIN (Updated)” dated 23 July 2024. The information in this presentation that relates to estimates of Lithium Mineral Resources for the Mt Edwards Project has been extracted from the Company’s ASX Announcement titled “375% Growth in Faraday-Trainline Lithium Mineral Resource” dated 8 November 2023. The information in this presentation relating to the Nickel Scoping Study has been extracted from the Company’s ASX Announcement of the 7 March 2024 titled “Standalone Mt Edwards Project Scoping Study” The information in this presentation that relates to exploration and evaluation results for the Butchers Creek and Mt Edwards Projects have been extracted from the Company’s previous ASX Announcements as referenced in this Presentation. Copies of these announcements are also available on the Company’s website at www.winmetals.com.au WIN Metals Limited confirms that it is not aware of any new information or data that materially affects the information included in the ASX market announcements, and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant ASX market announcements continue to apply and have not materially changed. WIN Metals Limited confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the relevant ASX market announcements. WIN METALS This presentation has been prepared by WIN Metals Limited (“WIN” or the “Company”) to assist in informing interested parties about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to securities in the Company. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. 2 22-Jan-25 22-Dec-24 22-Nov-24 Shares on Issue $2.9M Share Price Market Cap 174.5M Cash Total Options on Issue $0.70 $0.60 $0.50 $0.40 10,000,000 $0.30 $0.20 6,000,000 4,000,000 $0.10 2,000,000 $- WIN METALS $9.9M Volume $0.018c 31 December 2024 22-Oct-24 22-Sep-24 22-Aug-24 22-Jul-24 22-Jun-24 22-May-24 22-Apr-24 22-Mar-24 22-Feb-24 22-Jan-24 22-Dec-23 22-Nov-23 22-Oct-23 22-Sep-23 22-Aug-23 22-Jul-23 22-Jun-23 22-May-23 22-Apr-23 550.1M 14 February 2025 22-Mar-23 22-Feb-23 22-Jan-23 22-Dec-22 22-Nov-22 22-Oct-22 22-Sep-22 22-Aug-22 22-Jul-22 22-Jun-22 14 February 2025 22-May-22 22-Apr-22 22-Mar-22 22-Feb-22 22-Jan-22 22-Dec-21 22-Nov-21 22-Oct-21 22-Sep-21 Price ($A/Share) Corporate Summary Share Price since Listing (Sept 2021) 20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 8,000,000 0 3 New Gold Asset in Western Australia Uniquely positioned, advanced exploration asset located near existing processing infrastructure Attractive Butchers Creek acquisition terms equal to A$8/oz Resource1 with considerable growth Heightened portfolio optionality with constant inbound interest for WIN nickel and lithium portfolio WIN METALS High-grade Butchers Creek Gold Project acquisition transformational for WIN shareholders 1 Excludes any deferred consideration payable upon entering production 4 Butchers Creek: Background • Halls Creek region was the site of the first gold rush in Western Australia mid 1880’s. • Butchers Creek located 30km south-east of Halls Creek in the Kimberley region of Western Australia. • Total gold production from the Butchers Creek open pit from 1995-1997 of 761,000t @ 2.09g/t Au for 52,000oz of gold produced, the operation closed due to low gold price. • Historic owners conducting exploration drilling include Northern Star (ASX:NST) in 2004-2007 and Meteoric Resources (ASX:MEI) from 2020-2022. WIN METALS • Accessible via the unsealed Duncan Road that connects the project to the town of Halls Creek and the sealed Great Northern Highway. 5 Butchers Creek Gold Project: Mineral Resource Overview Deposit Butchers Creek Sub-total Golden Crown Global Resource Resource Classification Tonnes (Mt) Gold Grade (g/t) Contained Gold (oz) Indicated 1.9 2.2 139,000 Inferred 3.3 1.7 180,000 Indicated + Inferred 5.2 1.9 319,000 Inferred 0.4 3.1 38,000 Indicated + Inferred 5.6 2.0 357,000 Note: Figures are rounded and reported at 0.8g/t Au cut-off • 19m @ 8.8g/t BCRC250 • 6m @ 13.9g/t BCRC322 • 7m @ 4.2g/t BCD230 and 8m @ 17.4g/t • 6m @ 21.2g/t BCD230 • 38m @ 2.4g/t in BCD336 • 17m @ 4.20g/t BCRC272 • 69m @ 4.38g/t BCRD467 incl. 19m @ 7.22g/t • 56m @ 2.69g/t BCDD372 incl. 18m @ 4.85g/t • 20m @ 2.05g/t BCRD462 • 55m @ 3.21g/t BCRD468 incl. 8m @ 7.56g/t • 53m @ 2.14g/t BCRC466 • 45m @ 2.25g/t BCRC475 incl. 5m @ 10.77g/t • 34m @ 2.48g/t BCRC470 • 21m @ 6.07g/t BCRC476 incl. 2m @ 47.83g/t • 8m @ 10.41g/t BCDD373 • 25m @ 2.46g/t BCRD480 WIN METALS Previously released drillholes from Butchers Creek gold mine included in the Mineral Resource Estimate include1: 1 ASX Ann - 11 Sept 2024 “Butchers Creek Gold Project MRE and Exploration Results – Amended”. 6  Extensional Drilling Success: Proof of concept drilling has successfully demonstrated the continuation of the mineralisation at Butchers Creek. WIN METALS Butchers Creek Mineralisation- Confirmed, Expanded & still Open  Mineralisation Remains Open: Further potential for expansion exists, particularly down plunge.  Significant Growth Opportunity: Unexplored zones indicate further resource potential beyond the current model. 7 Drilling Delivers High Grade Results - Down Plunge Potential Confirmed • Drilling confirms mineralisation remains open down plunge with the potential for significant resource growth. • Strong coherent zones of gold mineralisation1 from first program reported including: 24BCRC002 66m @ 1.89g/t Au from 280m Incl. 17m @ 3.10g/t 24BCRC004 10m @ 2.54g/t Au from 368m Incl. 3m @ 5.70g/t 24BCRC015 98m @ 1.47g/t Au from 251m Incl. 13m @ 2.99g/t 24BCRC019 28m@ 2.90g/t Au from 291m Incl. 21m @ 3.54g/t 32m @ 2.65g/t Au from 231m Incl. 24m @ 3.37g/t Plan view of Butchers Creek with related drill section lines Step out hole 260m from most southern resource hole 24BCRCD008 16.52m @ 2.10g/t Au from 447m WIN METALS 24BCRC021 Incl. 11m @ 3.01g/t 1 ASX Ann – 10 December 2024 “Thick High-Grade Gold Intersected in Butchers Creek Infill Drilling” &. 4 February 2025 “Butchers Creek Exploration Success- Step Out Drilling Unlocks Resource Potential Butchers Creek mineral resource update H2 FY25 8 Section lines A and B looking north-east Unique geometry, amenable to highly productive mechanized mining techniques due to the large widths Large widths= low dilution. High degree of mechanization = low cost. High OVMs=low capex/oz 1 ASX Ann – 10 December 2024 “Thick High-Grade Gold Intersected in Butchers Creek Infill Drilling”. WIN METALS Butchers Creek Resource Overview 9 Butchers Creek - Ready to Dig • • • • Resource daylights in southern floor of open pit – Immediate source of ore Only 10m of water in the pit – Dewatering license approved Southern end of pit - 100m wide floor on granted mining lease M80/106 Southern pit floor to be mined prior to Underground development - low capex (no cutbacks) option to potentially generate immediate cashflow. Low working capital startup options abound. WIN METALS Butchers Creek open pit with block model shown 40m below current pit floor (left), southern section of pit looking north-west (right) with conceptual starter pit outline 10 Golden Crown - High Grade Resource Growth Now Evident • Drilling confirms high-grade mineralisation extends 140m below the current Golden Crown North resource modelled to only 100m depth Significant results include2: • 24BCRC014 6m @ 10.85g/t from 253m Incl. 3m @ 21.07g/t and 2m @ 5.05g/t from 240m (140m below MRE) 24BCRC012 5m @ 3.63g/t from 222m Incl. 2m @ 8.08g/t (95m below MRE) • 24BCRC013 2m @ 6.00g/t from 130m WIN METALS • 1 ASX Ann - 11 Sept 2024 “Butchers Creek Gold Project MRE and Exploration Results – Amended”. 2ASX Ann – 25 Nov 2024 “Golden Crown North Delivers High Grades and Growth Potential”. 11 Golden Crown - Strike Extent • 2km of mineralised strike within syenite host unit • Limited drilling due to topography limitations • Shallow RC drilling planned to unlock open pit potential along strike • Current Resource 38koz at 3.1g/t to only to 100m depth Significant historical results include1: BGP045 6.0m @ 44.0g/t from 14m GCD010 2.0m @ 200.2g/t from 22m GCP017 5.0m @ 70.5g/t from 9m BGP121 5.0m @ 23.0g/t from 81m BGP019 3.0m @ 18.0g/t from 6m BGP114 7.0m @ 5.5g/t from 64m BGP067 7.0m @ 4.5g/t from 24m WIN METALS BGP008 3.0m @ 14.7g/t from 13m 12 1 ASX Ann - 11 Sept 2024 “Butchers Creek Gold Project MRE and Exploration Results – Amended”. 2025 Exploration and Resource Growth Programs – Butchers Creek Grassroots Development Advanced Recon, mapping, and sampling program RC exploration drilling Infill drilling, DD drilling MRE Golden Crown/Butchers Creek RC infill drilling to expand resource envelope and MRE Drilling along strike to confirm mineralisation Golden Crown Strike Syenite Targets: Ganymede and Europa Alluvial Targets: Rosie Flats, Nuggety Gully, Butchers Creek and Golden Crown. Greenfield Exploration: Ruby Queen North, Anomaly 8, Emjay, Sabre, and Oberon EIS submission Drill ready IP and syenite targets to test Auger drill testing of alluvial targets Field Recon/ Mapping and Rock Chip Sampling WIN METALS Prospect 13 WESTERN AUSTRALIA WIN METALS Nickel & Lithium 14 Retaining Optionality and Preserving Latent Value Nickel and Lithium 240km2 granted mining leases covering the highly prolific Widgiemooltha Dome, with exposure to two critical minerals. Mt Edwards Nickel Project Significant resource, upgraded through drilling, Scoping Study concluded contemplating development of standalone concentrator. Compelling at the right entry point ie Conc/NiSO4/pCAM Shovel ready project with upside potential. Potential to provide optionality when lithium pricing recovers. Met testing to confirm development pathway. Exploration potential remains. Mineral Resources Mt Marion Lithium Operation: MIN ASX Announcements 22/09/2023: Mineral Resources and Ore Reserve Update, 21/02/2024 Mt Marion underground Mineral Resource Update Develop Dome North Deposit MRE: ESS ASX Announcement 22/12/2022: Dome North Mineral Resource Estimate Upgrade Mineral Resources Bald Hill Lithium Mine: TAW ASX Announcement 06/06/2018: Lithium Ore Reserve Increase at Bald Hill WIN METALS Faraday-Trainline Lithium Project 15 +61 8 63817250 info@winmetals.com.au WIN METALS Level 4, 220 St Georges Tce, Perth, WA 6000 ASX: WIN WINMETALS.COM.AU 16