Mount Ridley Mines Limited · ASX:MRD
Mount Ridley Mines — Investor Presentation (November 2026)
22 slides from Mount Ridley Mines's investor presentation, Nov 5, 2026
Slide 1: An Integrated Critical Minerals Company
ASX: MRD rsonal use only An Integrated Critical Minerals Company Heavy Rare Earths / Scandium / Gallium / Light Magnetic Rare Earths November 2026 | Türkiye • Japan • USA
Slide 2: Disclaimers & Forward-looking Statements
Disclaimers & Forward-looking Statements Disclaimer: that may cause actual results, performance or achievements to differ reported to qualify as a Competent Person as defined in the 2012 materially from those expressed or implied. Edition of the JORC Code. Mr Larder consents to the inclusion in this
Slide 3: Multi Critical Element Portfolio
Multi Critical Element Portfolio One Project. Four High-Value Critical Mineral Groups Co-Located Across the Grass Patch Complex. rsonal use only Heavy Rare Earth Elements Scandium Gallium NdPr Magnetic REE • Dominant 41% HREO • Now the world's largest JORC • 838.7Mt resource footprint. • 23,500t con
Slide 4: Corporate Snapshot
Corporate Snapshot Building an Integrated Critical Minerals Company Key Metrics Board of Directors ASX: MRD rsonal use only As at 30 October 2026 Targets: Share Price Shares on Issue Heavy Rare Earths / Scandium / Gallium / Light Magnetic Rare Earths $0.047 1.39b David Wall Allister Caird Location:
Slide 5: Corporate Strategy
Corporate Strategy Three Key Pillars for Growth and Value Creation rsonal use only 1. 2. 3. Downstream & Strategic Positioning Targeted Exploration Metallurgical Pathways And Partnerships & Expansion Focused on unlocking value through Positioning Mount Ridley within an Systematic exploration designe
Slide 6: Corporate Highlights
Corporate Highlights Multi Critical Minerals Portfolio Large Shallow Resource <60m rsonal use only HREE, Scandium, Gallium, and NdPr co-located Resource confined to shallow regolith, low strip within a single contiguous Australian project area ratios and simplified bulk extraction pathways SelectroT
Slide 7: Opportunity Set: Three Strategic Pathways
Opportunity Set Three Strategic pathways rsonal use only MRD Grass Patch Integrated Selectro Project Proposition Process World class, co-located Wholly owned, patent Vertical scandium, HREE and pending leach process integration from gallium resource resource to processing Applicable across critical
Slide 8: From Mine to Metal
From Mine to Metal The Grass Patch Project and Selectro in the critical minerals value chain 1. EXPLORATION 2. MINING 3. BENEFICIATION 4. SELECTRO 5. SEPARATION & 6. METAL & ALLOY 7. ALLIED rsonal use only & RESOURCE (Flotation) LEACH PROCESS PURIFICATION PRODUCTION MARKETS Define and grow the Shall
Slide 9: The SELECTRO Process
The SELECTRO Process Mount Ridley’s wholly-owned and patent pending leach process rsonal use only Single Leach High Purity Process End Products Reagent Environmental Generation Benefits Lower cost Lower environmental High recovery across Effective on raw or than HCI Footprint HREE, LREE, Sc, Ga bene
Slide 10: SELECTRO Initial Test Results
SELECTRO Initial Test Results Proof-of-Concept Test Work Demonstrates Selective Results Summary Recovery Across All Key Critical Minerals rsonal use only Test Work Overview Initial bench-scale test work was conducted on a representative Grass Patch composite prepared from historical diamond drill ma
Slide 11: Bauxite Results - Comparison Selectro vs Bayer Liquor Process
Bauxite Results - Comparison Selectro vs Bayer Liquor Process Selectro Process Bayer Liquor Process ADVANTAGES CHALLENGES Bauxite feed Bauxite feed rsonal use only Higher resource X Lower resource utilisation and utilisation and feed value capture single primary Selectro leach / extraction Caustic
Slide 12: The SELECTRO Next Steps
The SELECTRO Next Steps 1. Beneficiation Performance SELECTRO performance on flotation feed to be investigated rsonal use only 2. Accelerated Bulk Test Work Program Bauxite and Grass Patch bulk test work programs, with the Grass Patch program to be informed by the beneficiation program 3. Polymetall
Slide 13: World's Largest JORC Scandium Resource
World's Largest JORC Scandium Resource Upgraded Mineral Resource Estimate, A Historic Milestone rsonal use only 946Mt 47,357t #1 Total Resource Contained Sc Metal Global Ranking At 50.1ppm Sc / 76.8ppm Sc₂O₃ Including 72,637 tonnes World's largest JORC-compliant upgraded from 367.98Mt of contained s
Slide 14: Grass Patch Project Combined Resource Summary
Grass Patch Project Combined Resource Summary Three Critical Mineral Groups. One World-Class Project. Scandium - World's Heavy Rare Earth Elements rsonal use only Largest JORC Resource - High-Value REE Suite • 946Mt @ 50.1ppm Sc / 76.8ppm • 122.5Mt @ 889ppm TREO, 108,954t Sc₂O₃ — 47,357t contained S
Slide 15: Grass Patch Complex - Macro Market Environment
Grass Patch Complex - Macro Market Environment Each Mineral Faces Structural Supply Deficits & Allied Policy-Driven Demand Scandium (Sc) Heavy Rare Earth Elements Gallium (Ga) rsonal use only ~$3,600/kg | Acute Global Supply Deficit Dy: ~$930/kg | Tb: ~$1,800/kg | Y: ~$1,100/kg >$2,100/kg | 98% Chin
Slide 16: Critical Mineral Supply Risk
Critical Mineral Supply Risk Mount Ridley's Minerals Are Among the Most Geopolitically Exposed ★ MRD minerals rsonal use only Mineral Non-Western Supply % Concentration Risk URGENT ALLIED DEMAND Gallium ★ 98% ████████████████████ Germanium 95% China dominates ███████████████████ refining for 19/20 S
Slide 17: Critical Mineral Price Premium
Critical Mineral Price Premium Mount Ridley's Portfolio Is Concentrated in the Highest-Value Critical Minerals ★ Minerals present in Mount Ridley's resource base Mineral USD/kg Price > USD rsonal use only Price Relative Gallium = $2,100/kg Scandium ★ $3,600 ████████████████████ Scandium = ~$3,600/kg
Slide 18: Downstream Strategy
Downstream Strategy Building an End-to-End Processing Pathway. Feedstock to Final Product. Approach rsonal use only Processing Pathway 1. Well-Established Sample Inventory End-to-end processing under evaluation - from regolith feedstock Substantial material available to support staged and discipline
Slide 19: Technology Partners
Technology Partners Positioning MRD Within the Premier Allied Critical Minerals Research Ecosystem rsonal use only LLNL — Lawrence Livermore National ORNL — Oak Ridge National Fraunhofer Institute — Germany Laboratory Laboratory MTA Executed. Initial 6-month Material Transfer MTA Executed. Samples d
Slide 20: Western Australia — An Allied Critical Minerals Hub
Western Australia — An Allied Critical Minerals Hub China dominated supply chains & recent allied market interest Regulatory Stability rsonal use only Mature, transparent mining legislation with clear permitting pathways and internationally recognized governance standards. Allied China markets 95-98
Slide 21: Indicative Project Timeline — CY2026 to CY2027
Indicative Project Timeline — CY2026 to CY2027 Near-Term Value Drivers Q4 2026 1. Flotation Testwork rsonal use only Flotation testwork on Grass Patch composite ore, followed by SELECTRO leach testing on the resulting concentrate to validate performance uplift. 2. Q4 2026 Bauxite Separation and Puri
Slide 22: References
References ASX announcements: 30 March 2023. “Resource Drilling Commences at Mount Ridley REE Project” 28 October 2025. “838.7Mt Gallium Resource Estimate at Mt Ridley” rsonal use only 12 November 2025. “MRD Expands Rare Earth and Gallium Tenure” 25 November 2025. “33km of New REE-Gallium Targets De
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