Announcement PDF ASX: CDT | castleminerals.com CÔTE D’IVOIRE EXPANSION Acquisition-led reset: strengthened team and capital raise to power a two-country West African platform in a live discovery corridor August 2025 DISCLAIMER Cautionary Statement: This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Castle Minerals Limited (“Castle” or “the Company”) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. Forward Looking Statement: Statements regarding Castle’s plans, forecasts and projections with respect to its mineral properties and programmes are forward-looking statements. There can be no assurance that Castle’s plans for development of its mineral properties will proceed. There can be no assurance that Castle will be able to confirm the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic or that a mine will be successfully developed on any of Castle’s mineral properties. The performance of Castle may be influenced by a number of factors which are outside the control of the Company, its Directors, staff or contractors. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Castle. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Castle does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. Exploration Results & Mineral Resource Estimate – No New Information or Data: This presentation contains references to exploration results and Mineral Resource estimates, all of which have been cross-referenced to previous market announcements by the Company. Castle confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. Competent Person Statement: The scientific and technical information in this release that relates to the presentation of the deposits and exploration results is based on information compiled by Mr Stephen Stone, who is Executive Chairman of Castle. Mr Stone is a Member of the Australian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is 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 Stone is the Qualified Person overseeing Castle’s exploration projects and has reviewed and approved the disclosure of all scientific or technical information contained in this release that relates to the geology of the deposits and exploration. The Company confirms that all material assumptions underpinning any forecast information continue to apply and have not materially changed. Further information on Castle and its Ghana projects and Minerals Resources can be found on its website at www.castleminerals.com which contains copies of all continuous disclosure documents to ASX, Competent Persons’ Statements and Corporate Governance Statement and Policies. Market and industry Data: This presentation includes market share information and industry data and forecasts which have been obtained from independent industry publications. Although these sources are believed to be reliable, no independent verification of the data has been made nor the underlying economic assumptions relied upon therein ascertained. Third-party sources generally indicate that they have obtained their information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. It is believed that the market and industry data presented throughout this presentation is accurate, but no assurance as to the accuracy or completeness thereof is provided. Castle cannot and does not provide any assurance as to the accuracy or completeness of such included information. Market forecasts, in particular, are likely to be inaccurate, especially over long periods of time. Please refer to ASX and company website www.castleminerals.com for ASX releases pertaining to the contents of this presentation ASX: CDT | 2 Leadership changes: West Africa specialists with deep on-ground experience, execution and recent value-accretive vend-ins Recapitalised and ready: Spend directed to exploration, with shares proposed in lieu of Director’s fees* West African Platform: district-scale footprint across Ghana + Côte d’Ivoire under one strategy Right address: Proven fertile structures alongside active majors and fast-moving explorers, primed for discovery Momentum & news flow: Back-to-back auger/RC programmes planned through 2025 and into 2026 *Subject to shareholder approval THE NEW CASTLE MINERALS ASX: CDT | 3 DEEP AFRICAN EXPERTISE * STEVE ZANINOVICH NON-EXECUTIVE CHAIR* MOHAMMED NIARE NON-EXECUTIVE DIRECTOR AND COTE D’IVOIRE BUSINESS DEVELOPMENT MANAGER* 25 years’ of experience in project development and production in West Africa, including roles as Technical Consultant for Atlantic Lithium’s Ewoyaa Project and Project Director for the Bald Hill DMS Lithium Project in Australia. He is a Non-Executive Director for Aurum Resources and Operations Manager for Kodal Minerals. A Malian mining veteran with 25+ years across Mali and Côte d’Ivoire. He’s held senior roles at Randgold, Newmont, Resolute, African Gold (ASX:A1G) and Many Peaks (ASX:MPK), and is currently Kodal Minerals’ Country Manager in Mali. STEPHEN STONE NON-EXECUTIVE DIRECTOR MATT HORGAN NON-EXECUTIVE DIRECTOR Extensive experience across exploration, operations, executive management and corporate development. Former Managing Director of Azumah Resources Ltd, where he led the discovery of the 2.5Moz gold resource and 1.2Moz reserve Black Volta Gold Project in Ghana. African-focused mining executive with 14 years experience across engineering, investment banking, marketing and corporate development. Currently Vice President of Corporate development at Namibian-focused uranium developer Bannerman Energy. PHILLIP GALLAGHER STRATEGIC ADVISER * BOARD CHANGES TO TAKE EFFECT FROM COMPLETION OF THE TRANSACTION Extensive experience in mineral exploration and project generation in Africa including Canyon Resources (ASX:CAY) and Lion Rock Minerals (ASX:LRM). [Castle is acquiring his100% interest in Mineral Holdings Limited (UK) which holds a 90% interest in Mineralis Limited (UK)] 1. Subject to shareholder approval Active search underway to appoint a Chief Executive Officer. Non-Executive Directors of restructured Board will not be paid cash director fees. Incentive rights to be issued in lieu1. ASX: CDT | 4 MINERALIS ACQUISITION STRATEGIC FIT IN A LIVE DISCOVERY CORRIDOR Côte d’Ivoire entry: Seven farm-in and JV permits (~1,842km²) Location: ~25km to Assafou (north) and ~50km along strike from Chirano (south) Geology: Ghanaian structures continue into permits, improves first-pass drill targeting Strategic fit: complements Kpali (post-discovery) and Kandia (early discovery) in same Birimian rocks West African powerhouse: ~4,000km² platform across Ghana + Côte d’Ivoire, two mining friendly jurisdictions ASX: CDT | 5 MINERALIS ACQUISITION SOUTHERN EXPLORATION PERMIT Size: 236km², highly endowed structures and their splays continue into the permit Location: at a contact between the Comoe Basin of Côte d’Ivoire and the highly endowed Birimian-age BibianiChirano gold belt Geology: geological setting is akin with the 3.6Moz Afema gold project ASX: CDT | 6 MINERALIS ACQUISITION NORTHERN PERMIT PACKAGE Size: 1,615km², largely contiguous land package of five exploration permit applications and one granted permit Under-explored Côte d’Ivoire: Tanda-Iguela (Assafou) was discovered in 2018 and fasttracked to 4.5Moz Geology: Regional-scale mapping of the Comoe Basin is low resolution. Mapping at Tanda-Iguela reveals Tarkwaian-like stratigraphy, host to the giant gold deposits in neighbouring Ghana ASX: CDT | 7 ASX: CDT | 8 Proforma Capital Structure1 RECAPITALISED AND POISED FOR GROWTH 178.0m 115.7m 23.9m A$4.7m Shares on Issue Performance Rights A$10.7m Market Cap ($0.06) Options Cash A$6.0m Enterprise Value 1. Proforma capital structure on completion of the placement and transaction (subject to shareholder approval). ASX: CDT | 9 GHANA PORTFOLIO TWO ADVANCED OPPORTUNITIES 10 ASX: CDT | 10 KPALI DISTRICT - GHANA NEW GOLD DISTRICT Greenfields discovery: No prior systematic exploration, mineralisation defined from first-pass work Fertile structural hub: Intersection of two greenstone belts with three regional shears Shallow high-grade lodes: drilling confirms strong grades from near surface, lodes remain open District-scale upside: Multiple satellite remain largely untested Converging greenstone belts and structures of Bole-Bolgatanga shear #1 53km Hosts 5.10Moz Namdini & 1.3Moz Youga deposits #2 30km of Batie West shear Hosts 3.3Moz Konkera deposit #3 15km of Wa-Lawra shear / Jirapa fault Hosts 1.4Moz Kunche / Bepkong / Yagha deposits ASX: CDT | 11 KPALI DISTRICT EXPLORATION SUCCESSES 23 RC drill holes for 2,793m completed June 2025 Successful extension of major lodes along strike and to depth Numerous follow up targets NOTABLE INTERCEPTS1 1m at 20.66 g/t Au 19m at 2.93g/t Au From 41m (25KPRC018) From 77m (25KPRC024) 7m at 2.22 g/t Au 12m at 3.52 g/t Au From 178m (25KPRC025) From 138m (25KPRC026) 6m at 2.8 g/t Au 9m at 3.47g/t Au From 19m (25KPRC029) From 5m (25KPRC035) 1Refer CDT ASX releases 2 July 2014, 17 Sept 2024, 13 February 2025 and 16 June 2025 1.0g/t Au cut-off, max 2m dilution ASX: CDT | 12 KPALI GOLD PROJECT MINERALISATION EXTENDED 13 Refer CDT ASX releases 2 July 2014, 17 Sept 2024, 13 February 2025 and 16 June 2025 ASX: ASX: CDT CDT | 13 KANDIA GOLD CORRIDOR 16KM OF PROSPECTIVE SHEARED CONTACT LIES ON FERTILE BOLE-BOLGATANGA SHEAR SEVERAL ANOMALOUS ZONES IDENTIFIED ONLY 6KM OF ANOMALOUS STRIKE DRILL TESTED DRILLING HAS CONFIRMED GOLD EXTENDS TO DEPTH CORRIDOR EXTENDS INTO BLACK VOLTA’S JULIE DEPOSITS ASX: CDT | 14 KANDIA CORRIDOR DRILLING 4000 AND 8000 ZONES ASX: CDT | 15 KANDIA CORRIDOR WA EAST REGION FAVOURABLE STRUCTURAL SETTING Analogous to many West African & Australian structurallycontrolled, orogenic gold prospects BROADSCALE GEOCHEMICAL ANOMALISM Highlights fertility of Birimian-dominated terrain MULTIPLE PROSPECTS Opportunity for large tonnages across several deposits STRATEGIC POSITIONING Proximal to pre-development Black Volta Gold Project 2.80Moz MRE at 1.7g/t Au1,2 1.37Moz Ore Reserve at 1.8g/t Au 1//ibaera.com/project-news/black-volta-gold-project-ghana/ 2Refer Ibaera 1 September 2024 and Azumah Resources ASX release 2 July 2014 ASX: CDT | 16 ENDEAVOUR MINING ASSAFOU DISCOVERY ASSAFOU 25KM NTH OF NORTHERN PERMITS 2016: Small drilling campaign 2018: Initial geochemical survey 2022: Discovery confirmed and maiden resource 2023: Resources increased 2024: PFS (329,000oz/annum). DFS underway Kpali SIMILAR GEOLOGICAL SETTING TO KPALI Hosted in meta-sandstones. Proximal to intrusives RESERVES & RESOURCES: Assafou Reserves: 72.8MT at 1.76G/T Au (4.1Moz) Resources 73.6Mt at 1.95g/t Au (4.6Moz) DISTRICT SCALE Several other structurally-controlled prospects hosted in preferential meta-sandstone lithology Refer: Endeavour LSE & TSX release 11 December 2014 ASX: CDT | 17 GHANA + COTE D’IVORE SAFE, STABLE, MINING FRIENDLY Premier gold postcode Mining-friendly, fast-growing producer Home to numerous gold ‘whales’ Underexplored but highly prospective Regulatory stability Easy access & logistics ASX: CDT | 18 CASTLE MINERALS: DISTRICT-SCALE FERTILE TENURE IN GHANA + CÔTE D’IVOIRE Premier Postcodes Exploration Expertise Extensive Tenure Prospective Geology Ghana & Côte d’Ivoire, two of Africa’s largest gold producers. Stable, long-established mining jurisdictions Over 4,000km2. One of the largest quality gold landholdings in West Africa Team of West African experts assembled for exploration, management and project generation The right rocks and right structures in two fertile areas in a live discovery corridor Active exploration programmes Back-to-back RC and auger drilling campaigns across multiple prospects in 2025 into 2026 and beyond ASX: CDT | 19 MINERALIS PERMITS IVORIAN HOLDING COMPANY PERMIT ID STATUS PERMIT SIZE AFRICAN RESSOURCES PR0965 GRANTED 343,1 Km² AFRICAN RESSOURCES PR0961 APPLICATION 362.3 Km² ANGOBIA LIMITED 0731DMICM15/04/2024 APPLICATION 289,4 Km² ANGOBIA LIMITED 0732DMICM15/04/2024 APPLICATION 370,46 Km² SOHIE MINING 0827DMICM29/04/2024 APPLICATION 121,11 Km² SWAMAN EXPLORATION 0733DMICM15/04/2024 APPLICATION 119,7 Km² SWAMAN EXPLORATION 0647DMICM27/03/2024 APPLICATION 236,09 Km² ASX: CDT | 20 STEPHEN STONE EXECUTIVE CHAIRMAN E: stone@castleminerals.com M: +61 (0) 418 804 564 Ph: +61 (0) 89 322 7018 ASX:CDT | castleminerals.com APPENDIX: TRANSACTION SUMMARY Overview: • Castle to acquire 90% of the issued capital in Mineralis Ltd (UK), from Minerals Holdings Ltd (UK), a company owned by Phillip Gallagher. Messrs Zaninovich and Niare are business associates of Phil Gallagher. • Mineralis has the right to earn in stages via agreed exploration expenditure milestones up to 90% on permits (one granted and six applications) (total 1,842km²) along the Côte d’Ivoire - Ghana border. Consideration at settlement: • 5,250,000 ordinary shares and 9,000,000 unlisted options exercisable at $0.12, expiring on 31 May 2028 • 5,625,000 Milestone A performance rights • 9,375,000 Milestone B performance rights • $100,000 cash reimbursement Conditional consideration : • Subject to the grant of at least four applications out of six applications, 5,250,000 ordinary shares and 9,000,000 unlisted options exercisable at $0.12, expiring on 31 May 2028 Milestones: • Milestone A: the delineation of an Inferred Resource of at least 500,000oz gold (or gold equivalent) at greater than 1.0g/t gold (or 1.3g/t gold equivalent) on the permits; and • Milestone B: the delineation of an Inferred Resource of at least 1,000,000oz gold (or gold equivalent) at greater than 1.0g/t gold (or 1.3g/t gold equivalent) on the permits. • $337,500 on completion of Milestone A and $562,500 on completion of Milestone B ASX: CDT | 22