Whim Creek Copper Production & Processing Hub Pilbara Region Western Australia

Anax Metals Limited (ASX: ANX, Anax, or the Company) is pleased to present its investor presentation.

ANAX METALS OVERVIEW

WHIM CREEK

Fully Permitted & Established Mine Site Positioned to become the Pilbara copper hub

• STRATEGICALLY POSITIONED PROCESSING HUB IN THE PILBARA
  • Ability to treat primary and secondary ore through concentrator and heap leach delivering flexibility and economies of scale from hybrid process infrastructure.
• FULLY PERMITTED BASE METAL PRODUCTION HUB
  • Initial 8-year mine life producing copper, zinc and lead concentrates.
  • Expansion supported by recommissioning existing heap leach infrastructure.
• ATTRACTIVE ECONOMICS – HIGHLY LEVERAGED TO RISING COPPER PRICE
  • DFS and heap study reported $270m pre-tax NPV & 54% IRR^1,2,3.
• EXTENSIVE EXPLORATION POTENTIAL TO FEED EXISTING INFRASTRUCTURE
  • Growth potential at four deposits.
  • Follow up drilling down dip plunge at Evelyn (Previous Drilling - 13m @ 4.46% Cu, 3.10% Zn, 45g/t Ag and 1.61g/t Au from 204m)⁴.

WHIM CREEK COPPER PROJECT SUMMARY

Near Term Copper Production – Fully Permitted with Existing Infrastructure

• Fully permitted and established mine site with approval for in-pit tailings disposal.
• Development studies confirm production of metal over an initial 8-year life. NPV $270M / IRR 55.3%^1,2,3.
• Established infrastructure facilitating low development CAPEX of AU$71M and compressed development timeline of circa 18 months^1,2.
• New processing infrastructure to include a 0.8Mtpa pre concentration plant and 400ktpa concentrator to produce copper, zinc and lead concentrate^1,2.
• Existing and refurbished heap leach infrastructure to produce copper cathode and zinc sulphate.

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