Announcement PDF (ASX: KAL) PINJIN FARM-IN & REBECCA WEST ACQUISITION Investor Webinar May 2023 Disclaimer and Forward-Looking Statement This presentation has been prepared by Kalgoorlie Gold Mining Limited (Company). It contains general background information only which is current at the date of this presentation unless otherwise specified. It contains selected summary information and does not purport to be all-inclusive, comprehensive or to contain all of the information that may be relevant, or which a prospective investor may require in evaluations for a possible investment in the Company. Prospective investors should not rely on the information contained in this presentation, and must satisfy themselves as to the accuracy of all such information. This presentation has been prepared based on information available at the time of preparation and is subject to change without notice. In receiving this presentation, each recipient agrees to the foregoing terms and conditions, including any modifications to them. No person is under any obligation to update this presentation at any time after its release. This presentation is provided for general information purposes only. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of securities in the Company in any jurisdiction. It is not a prospectus, product disclosure statement, pathfinder document or any other type of public offer disclosure document for the purposes of the Corporations Act 2001 (Cth) and has not been, and is not required to be, lodged with the Australian Securities and Investments Commission (ASIC). It should not be relied upon by the recipient in considering the merits of the Company, or the acquisition of shares in the Company. None of KalGold, its subsidiaries nor its representatives make any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the information contained herein or any other written or oral communication transmitted or made available to any person receiving this presentation. To the maximum extent permitted by law, KalGold, its subsidiaries and representatives expressly disclaim any and all liability based on or arising from, in whole or in part, such information, or any errors or omissions. This presentation contains forward-looking statements regarding the Company’s resources, intentions and future business, including the future business of its subsidiaries. These statements reflect current information, expectations, intentions and strategies regarding the future, and are subject to certain risks and uncertainties. Should one or more of these risks or uncertainties materialise, or should any of the underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this presentation. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Other than where required by law, the Company is under no obligation to revise any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Though reasonable care has been taken to ensure that the facts are accurate and/or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results and developments of projects and the market development may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release. Exploration Results The references in this Presentation to historic Exploration Results for the Pinjin Gold Project were reported in accordance with Listing Rule 5.7 on 23 May 2023. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement noted above. Competent Person Statement The information in this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Matthew Painter, a Competent Person who is a Member of the Australian Institute of Geoscientists. Dr Painter is the Managing Director and Chief Executive Officer of Kalgoorlie Gold Mining Limited (KalGold) and 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 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Painter consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. Dr Painter holds securities in Kalgoorlie Gold Mining Limited. 2 KalGold Investment Proposition Global experience applied to the Eastern Goldfields Proven, low-cost gold discoverer • La Mascotte: One of the lowest cost JORC resources in recent times (outcropping gold near Kalgoorlie: 138,000oz for $4.60/oz) within 14 months of IPO • Pinjin acquisition: in the 30Moz Laverton Tectonic Zone (host to Sunrise Dam, Granny Smith, Rebecca, Anglo Saxon, Wallaby etc.) High-grade hits at Pinjin: historic results include 33m at 3.10g/t Au (KGRC004) Kalgoorlie office, Kalgoorlie geologists • More time in the bush and less in the office Strategic project portfolio offers plenty of upside Experienced Board and Management Pauline Gately – Non-Executive Chair • • • Investment strategist, commercial focus 20 years investment banking Acquisitions, exploration, project development Matt Painter – Managing Director and CEO • • Economic and Structural Geologist (PhD), global experience 25 years technical and corporate experience Carmel McKenzie – Non-Executive Director • • Highly experienced mining-focused lawyer Based in Kalgoorlie Andrew Penkethman – Non-Executive Director • • • Geologist, global experience 25 years technical and corporate experience Managing Director of Ardea Resources Limited Scott Herrmann – Exploration Manager • • Geologist, 20 years’ global experience Gold exploration, resource development, production 4 Discovery Strategy Discovering low-cost gold resources near Kalgoorlie-Boulder Bulong Taurus Gold Project • Low-cost discovery, JORC resource and extension 35km from Kalgoorlie Laverton Tectonic Zone • Target generation and exploration at the Pinjin Project • Initial focus on shallow, high-grade hits at Kirgella within new farm-in tenure • Active M&A region as Ramelius shores up feedstock for its proposed Rebecca mill Pinjin Project: The Opportunity • • Pinjin South and Kirgella Farm-In (39 km2) – 4 Exploration Licences (granted) – 3 Prospecting Licences (granted) – 2-year farm-in, $1.4M spend commitment – Kirgella Gift: shallow, high-grade gold not explored since 2011. – 21.5km strike continuity from Anglo Saxon to south – More work at several prospects to follow-up from historic drilling ($3.4M replacement cost) Rebecca West Acquisition (9 km2) – • 2 Exploration Licences (granted) KAL Tenure (246 km2) – 5 exploration licences (1 granted, 4 pending) – Jungle Dam gold prospect – New targets generated, slated for aircore testing • 7.5km along strike from Ramelius’ Rebecca Project • Neighbours include OzAurum, E79, FMG, Hawthorn, Northern Star Within the Laverton Tectonic Zone • • 80.6 km2 at south end of the Pinjin Goldfield – 41.6 km2 KalGold tenure (applications) – 39.0 km2 Farm-In tenure Within southern part of highly prospective 30Moz Laverton Tectonic Zone – • Hosts some of the largest deposits in the Eastern Goldfields (Sunrise Dam, Wallaby, Granny Smith, Red October, and Rebecca) Located under transported cover – 500m from Anglo Saxon pit – Historic exploration defined numerous prospects containing high-grade gold – No exploration since 2011 Kirgella: Priority targets Kirgella Gift • Main target, location of first drilling by KAL • High-grade mineralisation open at shallow levels, encased by a broader zone of moderate grades. Southerly plunge open within 40m of surface Providence • Last discovery (2012) handful of drill holes • Possible connection to Kirgella Gift, KAL to test T12 • Historic AC, RC, DD drilling • Reassessment of extensive anomalism and mineralisation at Kirgella Gift T15 and Lakes • Extensive AC, RC drilling at T15, less at Lakes • Targets require follow-up T3 targets • E79 tenure. Extensions likely to extend to KAL’s tenure Plenty of gold KSR006: 32m at 2.61g/t from 13m • Thick zones of high-grade mineralisation intersected at shallow levels – Southerly plunge at Kirgella Gift, mineralisation open 6m at 2.61g/t from 18m 5m at 3.75g/t from 27m and including 7m at 4.47g/t from 37m including and including – Numerous targets identified – Structures cross-cut several units, none tested KSRC003: 10m at 1.57g/t from 28m and 7m at 1.04g/t from 44m KGRC001: 9m at 1.22g/t from 61m KSRC009: 12m at 1.15g/t from 24m including 2m at 3.13g/t from 30m and 12m at 1.38g/t from 45m including 1m at 9.78g/t from 53m KGRC004: 33m at 3.10g/t from 51m – Indeterminate direction at Providence (insufficient data), open in all directions • Mineralised structures not tested along strike KIRGELLA GIFT including and including and including KSRC013: 10m at 1.93g/t from 12m . including 4m at 3.29g/t from 16m and 9m at 2.07g/t from 26m . including 5m at 2.93g/t from 73m 12m at 4.66g/t from 52m 2m at 7.01g/t from 73m 1m at 14.25g/t from 80m PINC5: 8m at 2.03g/t from 109m including 3m at 3.73g/t from 109m and 6m at 1.90g/t from 217m including 1m at 7.27g/t from 217m KGRC010: 19m at 1.01g/t from 134m including 2m at 3.01g/t from 140m KGRC008: 13m at 2.78g/t from 73m including 6m at 4.29g/t from 73m and 1m at 2.96g/t from 97m KGRC011: 11m at 1.44g/t from 52m and 6m at 1.03g/t from 68m KGRC016: 8m at 2.04g/t from 126m KGRC014: 26m at 0.87g/t from 79m including 3m at 3.73g/t from 109m KGRC020: 10m at 2.11g/t from 71m including 3m at 3.41g/t from 78m PROVIDENCE KGRC021: 3m at 1.13g/t from 109m Historic Exploration Drilling Value Hole Type Count Metres Avg Depth ~$Cost/m ~$Au/Assay $Drill Cost $Assay Cost $Total $Total % RAB 113 4,374 39 $30 $15 $131,000 $16,000 $147,000 4.3% AC 485 35,446 73 $40 $15 $1,418,000 $133,000 $1,551,000 45.3% RC 51 7,332 144 $75 $20 $550,000 $147,000 $697,000 20.4% DD 14 4,192 299 $225 $20 $943,000 $84,000 $1,027,000 30.0% Total 663 51,344 77 $3,042,000 $380,000 $3,422,000 100.0% T12 • Extensive historic drill database, comprising: • 663 historic holes across E28/2654, 2655, 2656 Kirgella Gift • Approximate $3.4m replacement value* * Au assays only, 4m comps for RAB and AC, 1m samples for RC and DD) Providence • Around $2.94M (75%) is on Kirgella Gift tenure (Kirgella Gift, T12, Providence) T15 Initial Confirmatory Drilling Complete • KalGold has completed three closely spaced confirmatory drill holes • 355m of RC drilling to test shallow gold mineralisation at Kirgella Gift • Broad zones of shearing and alteration contained quartz-carbonate(-pyrite) veining • One hole encountered visible gold at 50m depth* • Assays pending *Cautionary Statement: Visible gold does not provide precise, accurate, or repeatable indications of gold grade. Laboratory assay results are required to determine the widths and grades of any mineralisation reported in preliminary geological logging. Kirgella and Providence: One Gold System • Two prospects likely part of one system • Limited exploration and open mineralisation suggest huge upside PROVIDENCE Gold controls Combined Open 700m KIRGELLA GIFT Drilling KIRGELLA GIFT • 36 RC holes for 5101m • 1 DD hole for 315.5 PROVIDENCE • 2 RC holes for 290m Mineralisation style typical of the region: • Talc-chlorite-carbonate schists • Quartz-carbonate-pyrite veining • Vertical to steep westerly dip to mineralisation • Hosted by structures defined be magnetic breaks • Southerly plunge • Open north and south. (confirmed by 2012 CSIRO study), open from shallow levels Anomalous gold hits in RAB/AC extend a further 100m south +700m strike potential? 300-400m gap between Kirgella Gift & Providence No historic RC follow up Continuous gold mineralisation? • Southward plunge defined at Kirgella Gift KIRGELLA GIFT PROVIDENCE – Near-surface targets – Open and untested at shallow levels – Findings consistent with CSIRO 2012 study • Opportunity to grow gold inventory by infill drilling the 300-500m gap Systematic RC drilling concept Au intercepts (grade x metres) (approx. pierce points) 100m looking east Kirgella Gift to Providence long section, showing Au intercepts and drill traces. Conceptual cross-sections and drill plans • Scope to modify hole parameters with learnings as programs progress and discoveries made • Nominal 50x20m hole spacing, tightening if required • Programs to be staged to facilitate efficiency and “bang-for-buck” as deposit shape is gradually revealed • Possible modifications include: o Extension of holes to the east to test known footwall anomalism o Testing of oblique mineralised shears away from the magnetic breaks 6,659,705 mN (Kirgella Gift) 6,659,630 mN (Kirgella Gift) Pinjin South targets  500m from Anglo Saxon Pit –  WESSEX GKRPINB164: 10m at 1.57g/t Au from 28m Wessex target including including Wessex Prospect – Historic intercepts show mineralisation dipping into P31/2102 – Transported cover on P31/2102, never explored, no drilling. – Drill possibilities being assessed 4m at 3.03g/t Au from 28m GKRPINB164: 8m at 7.36g/t Au from 32m 4m at 13.5g/t Au from 32m HARBOUR LIGHTS AFXLRC199: 4m at 10.61g/t Au from 10m  Harbour Lights extension – Historic drilling off tenure shows mineralisation trend into E31/1127 – Targets being defined AFXLRC296: 6m at 3.02g/t Au from 6m including Harbour Lights target 2m at 8.04g/t Au from 6m AFXLRC300: 22m at 5.64g/t Au from 23m including 6m at 18.59g/t Au from 36m Distance from P31/2099 to pit edge Rebecca West Rebecca West Acquisition • Tenure lies between the Pinjin Mining Centre and Ramelius’s Rebecca Gold Project • 9km west of the proposed Rebecca gold plant • Gold targets: • – being defined – structural targets emerging, to be ranked – peripheral to (but does not include) an internal granite within the Laverton Tectonic Zone Historic exploration has been very limited – a single line of shallow aircore holes 16 Strengthened Balance Sheet to fund Pinjin drilling • Firm commitments received for – $1.4M via Placement and – up to $0.5M in Share Purchase Plan (SPP) • Strong support from new and existing sophisticated and professional investors • Funds applied to systematic drilling and assessment of the Pinjin project, which includes: – Extension of shallow gold mineralisation at Kirgella Gift – Drill test for continuity in the gap between Kirgella Gift and Providence – Assessment of other established targets, including T12, T15, Wessex, and the Harbour Lights extension, as well as a series of newly defined targets – Strong lithium potential of the Pinjin region requires further investigation over the KalGold tenement package 17 Capital Structure 0.18 Key Metrics 1400000 0.16 ASX Code KAL 1200000 0.14 1000000 0.12 Shares On Issue 86,521,025 Share Price (@ 24 May 2023) $0.038 Market Cap ~$3.3M 0.1 800000 0.08 600000 0.06 400000 0.04 200000 0.02 $1.5M 0 0 25/05/2022 2/06/2022 10/06/2022 21/06/2022 29/06/2022 7/07/2022 15/07/2022 25/07/2022 2/08/2022 10/08/2022 18/08/2022 26/08/2022 5/09/2022 13/09/2022 21/09/2022 30/09/2022 10/10/2022 18/10/2022 26/10/2022 3/11/2022 11/11/2022 21/11/2022 29/11/2022 7/12/2022 15/12/2022 23/12/2022 5/01/2023 13/01/2023 23/01/2023 1/02/2023 9/02/2023 17/02/2023 27/02/2023 7/03/2023 15/03/2023 23/03/2023 31/03/2023 12/04/2023 20/04/2023 1/05/2023 9/05/2023 17/05/2023 Cash (@ 31 March 2023) * Top Shareholders Ardea Resources Ltd 10.44% Citicorp Nominees Pty Ltd 7.39% CS Third Nominees Pty Ltd 5.79% * Funds from a $1.4M placement and up to $0.5M Share Purchase Plan strengthens KalGold’s balance sheet and accelerates systematic drilling and assessment of the Pinjin project. 18 A huge opportunity for KalGold Shallow, high-grade gold mineralisation at PinjinKirgella located in one of the most prospective regional gold mineralised structures in the prolific Eastern Goldfields of WA Acquisition delivers on KalGold’s stated aim to assess appropriate projects systematically and continuously in the Goldfields region KalGold’s expertise applied to define maximum ounces at minimum cost 19 Matt Painter Managing Director & CEO T: +61 8 6002 2700 E: info@kalgoldmining.com.au 20 Transaction Overview Pinjin (Kirgella) Farm-In Rebecca West Acquisition 1. • Purchase outright from the vendor tenements E28/3135 and E28/3136 for $100,000 cash in an agreement legally separate from the Pinjin Kirgella tenure transaction. • Consideration for the agreement comprises: 2. 3. Option o $100,000 option fee for 2 years o KalGold to spend minimum $1.4M on drilling, including assays + direct costs (equivalent to 11,500m RC drilling) o If $1.4M is not spent, the residual is to be paid to the vendors Option exercise + Free Carry Period o Any time after 12 months, KalGold can purchase 75% interest for $1.65M (up to 50% cash and, subject to shareholder approval, 50% shares) o Vendors to be free carried until Bankable Feasibility Study (BFS), followed by decision to mine o KalGold to cover all legal costs associated with exercising the option • • $25k up front; and • $75k within 3 months. Upon completion of the transaction, KalGold will hold all mineral rights over the tenure. Remaining Portion o Post BFS, vendors have 120 days to elect to contribute on a pro rata basis to maintain 25% stake o Alternatively, vendors can elect to convert to a 2% NSR o KalGold has first right of refusal if vendors decide to sell their stake 21 Area Area Tenement Holder Status Jungle Dam E 31/1119 KAL LIVE 195.40 Patricia North E 31/1326 KAL PENDING 8.92 Pinjin South P 31/2099 Farm-in LIVE 0.07 P 31/2100 Farm-in LIVE 0.10 P 31/2102 Farm-in LIVE 0.78 E 31/1127 Farm-in LIVE 2.51 E 31/1347 KAL PENDING 2.97 P 31/2168 KAL PENDING 0.08 E 28/2654 Farm-in LIVE 11.85 E 28/2655 Farm-in LIVE 11.86 E 28/2656 Farm-in LIVE 11.86 E 28/3134 KAL PENDING 38.53 E 28/3135 Purchase LIVE 3.97 E 28/3136 Purchase LIVE 5.94 Kirgella Rebecca West (km2) 22 TOTAL 284.91