Eranova Metals Inc. · TSXV:NOVA
Eranova Metals — Investor Presentation (August 2026)
21 slides from Eranova Metals's investor presentation, August 2026
Slide 1: EraNova Metals Corporate Presentation August 2026
Corporate Presentation August 2026 Development-Stage Molybdenum + District-Scale Multi-Metal Discovery EraNova Metals One Property. Two Paths to Value Creation. TSXV: NOVA OTCQB: STXPF TSXV: STU OTCQB: STXPF WKN: A2PLBV
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements in this presentation that are not historical facts are forward-lookin
Slide 3: Ruby Creek Property: Two Paths to Value
RUBY CREEK PROPERTY, ATLIN B.C. DEVELOPMENT-STAGE FOUNDATION WITH DISTRICT-SCALE UPSIDE 30,000 ha $100M+ Road Accessible 93% Land package Historical spend All-season access M&I Molybdenum Resource TWO PATHS TO VALUE DEVELOPMENT EXPLORATION 436M lb* 15+ km Updated Preliminary Economic Assessment Mine
Slide 4: Ruby Creek Property
Ruby Creek Property Atlin, British Columbia, Canada ‹#› TSXV: STU | OTCQB: STXPF
Slide 5: Adanac Molybdenum Project
Ruby Creek ADANAC MOLYBDENUM PROJECT Advanced development project supported by a robust PEA Resource & Economics 436M lbs M&I contained molybdenum* After-tax NPV $715M | 23.5% IRR | 24-year LOM 30,000 tpd operation 11.4 Mlb average annual production Developement Foundation >$100M historical investme
Slide 6: Trading at a Discount to Primary Moly Peers
TRADING AT A DISCOUNT TO PRIMARY MOLY PEERS A previously permitted, primary asset priced below every development-stage peer PRIMARY DEVELOPMENT-STAGE MOLY PEERS Contained Mo Annual Production Market Cap EV/lb Mo Owner Property Stage Location Grade % (Mlb) (Mlb/yr - estimated) (CAD M) (CAD) Feasibili
Slide 7: PEA Economics Summary
PEA Economics Summary BASE CASE | US$25/lb Mo SPOT | ~US$31.91/lb Mo After-Tax NPV8 CAD$ 714.4M After-Tax NPV8 C$1,292.2M IRR 23.5% IRR 30.2% Payback: 2.4 years Payback: 2.1 Years Mine life Throughput Initial CAPEX LOM AISC Total payable Mo 24 yrs 30,000 tpd C$953.3M C$19.79/lb Mo 270M lbs 7 TSXV: N
Slide 8: Mine Design & Production Profile
Mine Design & Production Profile Mining method Open Pit Mine life 24 years Total mill feed 252 Mt Mill head grade 0.054% Mo Strip ratio 0.7:1 Throughput 30,000 tpd Annual production (LOM avg) ~11.4M lbs Mo Total payable molybdenum 270.1M lbs 8 TSXV: NOVA | OTCQB: STXPF
Slide 9: Metallurgy & Process
Metallurgy & Process Primary SAG / Rougher Cleaner MoS₂ crush → ball mill → flotation → flotation → concentrate Processing method Conventional Mo flotation Mo recovery rate 90.2% Mo concentrate grade 54% MoS₂ Throughput 30,000 tpd 9 TSXV: NOVA | OTCQB: STXPF
Slide 10: Capital & Operating Cost
Capital & Operating Cost Initial CAPEX Mining C$953.3M Sustaining & Closure C$625.1 M Total CAPEX (excluding Salvage Cost) C$1,578.4 M Operating cost C$3,822.8 M Cash Costs C$17.48/lb Mo AISC C$19.79/lb Mo Road-accessible site with $100M prior spend on infrastructure reduces initial capital relative
Slide 11: Sensitivity Analysis
Sensitivity Analysis US$25.00/lb — US$31.91/lb — Base Case Spot Price Pre-Tax NPV @ 8% C$1,201.2M C$2,105.8M Pre-Tax IRR 30.80% 38.90% After-Tax NPV @ C$714.7M C$1,292.2M 8% After-Tax IRR 23.50% 30.20% After-Tax NPV / 75% 136% CAPEX 11 TSXV: NOVA | OTCQB: STXPF
Slide 12: Adanac Molybdenum Resource (MRE)
Adanac Molybdenum Resource (MRE) Classification Tonnes (Mt) Mo Grade (% Mo) Contained Mo (Mlbs) Measured 39 0.072 61.7 Indicated 352.2 0.048 374.1 Measured + Indicated 391.2 0.051 435.7 Inferred 76.4 0.042 71 Notes Mineral resources are not mineral reserves and do not have demonstrated economic viab
Slide 13: Molybdenum Market: Growing Demand, Constrained Supply
MOLYBDENUM MARKET: GROWING DEMAND, CONSTRAINED SUPPLY Molybdenum demand keeps rising ~2-3% per year, but new supply is structurally hard to add WHY IT MATTERS of western molybdenum supply is produced as a copper by-product, ~90% limiting the industry's ability to respond to higher molybdenum demand.
Slide 14: Ruby Creek: Positioned for a Stronger Moly Market
RUBY CREEK: POSITIONED FOR A STRONGER MOLY MARKET MARKET POSITIONING Moly price increased from under US$10/lb in 2020 to ~US$40/lb today Demand growth continues to outpace new primary moly supply Few large-scale, pure-play primary moly projects remain globally KEY APPLICATIONS Source: dailymetalpric
Slide 15: Adanac Molybdenum Project: The Path to Development
ADANAC MOLYBDENUM PROJECT: The Path to Development PHASE 1 - Complete PHASE 2 Advance engineering toward Feasibility Updated PEA completed Progress permitting & environmental work Established robust project economics Build the technical development team Established a foundation for Feasibility Evalu
Slide 16: Atlin Discovery Project Exploration Highlights
Ruby Creek ATLIN DISCOVERY PROJECT Exploration Highlights A district-scale, structurally controlled system: gold-silver veins, a high-grade silver target with simple metallurgy, and an emerging copper-gold porphyry. Lakeview / Little Edna / BDX — Epithermal Gold-Silver 257 g/t Au & 3,660 g/t Ag at L
Slide 17: Share Capital Structure
SHARE CAPITAL STRUCTURE ~ 34% Insider Ownership * Eric Sprott 11.2% shareholder Market Capitalization: $9M Securities Price Expiration Proceeds Total Common Shares 55,771,908 Warrants 0.60 Aug 2026 $1,356,040 1,356,040 0.35 Jan 2027 $1,050,000 2,999,999 0.50 Mar 2027 $1,500,000 3,000,000 0.18 Sept 2
Slide 18: Investment Thesis
INVESTMENT THESIS EraNova offers an advanced, multi-metal asset with near-term catalyst and clear re-rate potential. TRADES AT A DEEP TIGHT SHARE STRUCTURE ROBUST PEA ECONOMICS DISCOUNT TO PEERS (~55M basic) with ~34% After-tax NPV C$715M Despite comparable or 23.5% IRR, insider ownership; backed st
Slide 19: Thank You
One Property. Two paths to value creation. Thank You Meredith Eades President, CEO & Director [email protected] 604-360-4668 www.EraNova.com 24 TSXV: NOVA | OTCQB: STXPF
Slide 20: Appendix
APPENDIX EraNova Metals One Property. Two paths to value creation. TSXV: NOVA OTCQB: STXPF TSXV: STU OTCQB: STXPF WKN: A2PLBV
Slide 21: Other EraNova Projects
OTHER ERANOVA PROJECTS (1) RUBY CREEK 100% interest, 33,000-hectare PM + critical metal property Direct to deposit road access Located in the heart of Atlin Placer Gold Camp (2) BIG LEDGE 1 100% interest, 5,094-hectare lead-zinc property Historic drilling by Cominco (1948–1966; 10,060 m) outlined a