Camino Minerals Corporation · TSXV:COR
Camino Minerals — Investor Presentation (October 2026)
35 slides from Camino Minerals's investor presentation, October 2026
Slide 1: A Copper Discovery to Production Company
A Copper Discovery to Production Company
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. Such statements include, but are not limited to, anticipated synergies between Camino Minerals Corporation (“Camino” or the “Company”
Slide 3: Portfolio of Assets
Portfolio of Assets Maria Cecilia, Peru Copper Porphyry Complex with NI 43-101 Resource Plata Dorada, Peru High Grade Copper Silver Gold Metals Costa de Cobre, Peru Exploring and Delineating IOCG-Type Resource Nittetsu 35% Earn-In Puquios, Chile Construction-Ready Copper Project 50:50 JV with Nittet
Slide 4: Company Overview
Company Overview • Camino is a copper-focused development company advancing assets in Peru and Chile - two top-tier copper jurisdictions - positioned to support the global energy transition through near-term production and long-term growth. • The Company’s flagship asset, Puquios in Chile, is a cons
Slide 5: Advancing to Near-Term Production and Cash Flow
Advancing to Near-Term Production and Cash Flow Construct Develop Explore Grow Puquios Costa de Cobre Maria Cecilia ,Costa de Through M&A Cobre, Plata Dorada • Construction-ready project • Exploring and delineating • Maria Cecilia; Costa de • M&A • Ready to construct; 50:50 resource Cobre; Plata Dor
Slide 6: Upcoming Milestones and Catalysts
Upcoming Milestones and Catalysts Near-term efforts focused on advancing Puquios into production to unlock immediate value, with a clearly defined strategy to drive long-term growth through the continued development and expansion of our broader asset base H1 2025: 2026: • Copper production from Puqu
Slide 7: Mining Partners
Mining Partners • +80 years as a mining and trading company with expertise in processing, distributing, importing, and exporting copper and other mineral products • Extensive Chilean copper mining portfolio includes: o Atacama Kozan – Production o Arqueros – Construction with first production expect
Slide 8: Investment Thesis
Investment Thesis Low Risk Puquios Project with Strong Endorsements • Project endorsed by Nittetsu Mining Co. & Denham Capital Management • Straightforward open-pit mining and proven processing technology as outlined in 2025 PFS • Permitted and construction ready Near Term Cash Flows • First product
Slide 9: Puquios Project Overview
Puquios Project Overview Status • Construction ready Location • Coquimbo Region, Chile, ~130km NE of La Serena • 50% Camino and 50% Nittetsu Ownership • 2% NSR royalty payable to third party • 1.25% NSR royalty payable to Elemental Royalty Corporation • Targeting ~US$109M project debt to make final
Slide 10: Puquios 2025 PFS Highlights
Puquios 2025 PFS Highlights PFS Base Case Highlights PFS demonstrates robust economics and Mining Method Open Pit attractive returns, even under conservative Estimated Production Start (Year) 2028 copper price assumptions. Estimated Mine Life (Years) 14.2 Mill Feed (Mtpa) 1.8 Operating Mill Head Gra
Slide 11: Puquios Infrastructure in Well Established District
Puquios Infrastructure in Well Established District Local Infrastructure • Located ~130km (~2 hours) northeast of La Serena, capital of the Coquimbo region, with access via Route 5 and highway D-115 • Airport in La Serena, with daily flights from Santiago • Rail is situated 25km west of the Project
Slide 12: Puquios Project – Resource Upside Potential
Puquios Project – Resource Upside Potential Near Term:12-18 Months Longer Term Throughput: Third-party oxide ore Resource Upside: Continuous Exploration: Prospective near- 1 increases production volumes 2 sulfide Resource below current pit 3 mine targets on >10,000 hectares. shell Pink: mine reserve
Slide 13: Puquios Project – Technology Upside
Puquios Project – Technology Upside Camino and Nittetsu are jointly conducting leaching studies at Nittetsu’s metallurgical lab near Tokyo to scale up copper production at Puquios Study objectives: o Improve recoveries to support additional in-pit resource conversion o Convert Indicated to Measured
Slide 14: Puquios Upside Opportunities – Elemental Royalties
Puquios Upside Opportunities – Elemental Royalties 1.25% Puquios NSR purchased for USD $8,000,000 Major Camino Shareholder From Elemental Royalty (formerly EMX) News Release Dated Nov 12, 2025: “The supergene copper deposit is located within the hilltop overlying a more extensive primary porphyry co
Slide 15: Puquios 2025 PFS Production & Cash Flow Profile
Puquios 2025 PFS Production & Cash Flow Profile Base Case Production Profile(1) Pro duction (kt Cu) Cash Costs ($/lb Cu) PFS outlines ~9ktpa(2) of $3.62 $3.53 copper production, with the $2.74 $2.75 $2.61 potential to scale up to $1.83 $1.85 $1.75 $1.78 $1.73 $1.60 $1.37 $1.49 $1.56 increase product
Slide 16: Costa de Cobre Project
Costa de Cobre Project Following Puquios, Camino’s next production asset is progressing towards resource delineation, engineering, and development planning with strong support from Nittetsu. Costa de Cobre is an exploration project located in Peru spanning ~23,000 hectares. • Located in the Iron Oxi
Slide 17: Costa de Cobre Project
Costa de Cobre Project Camino Receives Environmental Approval for Significant Exploration Expansion Approval Nearly Doubles Exploration Footprint and Adds 212,500 Metres of Potential Drilling Capacity Across Three Major Copper Trends: • Adds 212,500 metres of new drilling capacity under the Second M
Slide 18: Costa de Cobre Drilling Highlights
Costa de Cobre Drilling Highlights Drilling Highlights - 28,660 Total Meters Drilled Adriana – Diva Trend • 17.6 m @ 0.85% Cu & 2.48 g/t Ag, incl. 5.4 m @ 1.64% Cu & 4.51 g/t Ag in DCH-124 • 83.5 m @ 0.94% Cu & 10.40 g/t Ag, incl. 7.1 m @ 2.13% Cu & 34.36 g/t Ag in DCH-125 • 95.0m @ 0.85% Cu from 63
Slide 19: Costa de Cobre Mineralized Trends
Costa de Cobre Mineralized Trends Multiple Mineralized Copper Trends • Diva Trend • Atajo Trend • La Estancia Trend 19
Slide 20: Costa de Cobre – Diva Trend
Costa de Cobre – Diva Trend Geological Cross-Section of the Diva Structural Corridor (>15km) 20
Slide 21: Costa de Cobre - from Discovery to Resource
Costa de Cobre - from Discovery to Resource 1. District-scale mineralized system with >15 Costa de Cobre Project km of confirmed Cu–Ag mineralization along the Diva Corridor. 2. Proven discovery track record with Adriana, Katty and Lourdes demonstrating repetition of mineralized breccia bodies. 3. M
Slide 22: Costa de Cobre – Active Mining District in Peru
Costa de Cobre – Active Mining District in Peru Established infrastructure supports multiple producers in the district including one of the world’s newest world scale copper mines – Mina Justa. Neighbours in a Proven District • Rio Tinto: increasing claims contiguous to Camino • Mina Justa (Marcobre
Slide 23: Maria Cecilia Project Overview
Maria Cecilia Project Overview Advanced exploration with a published NI 43-101 Resource Estimate. Central porphyry, Maria Cecilia, demonstrates multiple mineralization pulses, and its large magnetic anomaly is the next major target. • Over 30,000 meters of drilling delineate two deposits of NI 43-10
Slide 24: Maria Cecilia – Major Copper Belt
Maria Cecilia – Major Copper Belt The skarn and porphyry system at Maria Cecilia is considered to have some geological similarities to one of Peru’s largest copper mines, Antamina, located 100 km away. Maria Cecilia is in a metallogenic environment in the Cordillera Negra mountain that trend NW-SE w
Slide 25: Maria Cecilia Copper-Gold and Moly Porphyry Target
Maria Cecilia Copper-Gold and Moly Porphyry Target Dec. 2025: Sensitivity Price – US$3,750 Gold, US$4.75lb Copper, US$30 Silver Oz, US$1.5lb Molybdenum 25
Slide 26: ESG
ESG Camino is committed to strong environmental standards, safety procedures, and meaningful dialogue with stakeholders, including local communities. Camino is dedicated to developing our projects to bring sustainable and long-lasting social and economic benefits for the host communities and all sta
Slide 27: Copper Demand Outlook
Copper Demand Outlook Energy Transition Data Centres Traditional Growth Electric Vehicles Artificial Intelligence Infrastructure Copper demand is driven by multiple factors — with near- Energy Transition Renewable Energy Data Centres Blockchains Auto Manufacturing term tailwinds from the global ener
Slide 28: Copper Market – Structural Gap between Supply and Demand
Copper Market – Structural ”Gap" between Supply and Demand Underpin Investment fundamentals Mt Copper Supply and Demand 45 40 Future Mine Supply is Characterized by: 35 30 • Declining grades (Average global grades forecast to fall to 0.65% Cu by 2040 from >0.90% in 2025) 25 20 • Smaller and more com
Slide 29: Copper Price – Market Fundamentals Drive Sustained Price Response
Copper Price – Market Fundamentals Drive Sustained Price Response $6 China Economic Cycle Electrification Cycle 29
Slide 30: Camino Share Price
Camino Share Price Significant Exploration Expansion at the Costa de Cobre Puquios Key Water Management Camino Acquires Puquios Camino Raises $5.6M Nittetsu Provides Final High-Grade Copper $5.8 Million Brokered Infrastructure with Nittetsu from Strategic Investors Earn-In Payment $1.5M Results at C
Slide 31: Camino is Trading Below FID-Stage Peer Group (P/NAV)
Camino is Trading * Below FID-Stage Peer Group (P/NAV) Camino Peer Group (P/NAV) 1.0 2.5 – 3.0 x gap relative to Peer 0.8 Group 0.6 0.4 0.2 PEA Stage Camino FID Stage Companies (0.21 x NAV) Companies (0.15 – 0.25 x NAV) (0.65 – 0.75 x NAV) Disclaimer: Peer group comparison information has been compi
Slide 32: Camino News Highlights – 18 Months
Camino News Highlights – 18 Months Apr 17, 2025 Camino and Nittetsu Complete Acquisition of Permitted Puquios Copper Project in Chile May 6, 2025 Camino Announces Exploration Results at Los Chapitos and Further Exploration Plans in Peru Jun 17, 2025 Camino Announces High-Grade Channel Results Los Ch
Slide 33: Capital Structure
Capital Structure Reference share price: C$0.32 | September 2026 BASIC SHARES BASIC MARKET CAP NIL-PRICE AWARDS ITM OPTIONS CONVERTIBLE DEBT 103.1M C$33.0M 0.67M 2.25M C$9.4M Issued and outstanding 103.066M shares × C$0.32 RSUs 0.545M + DSUs 0.125M C$0.30 exercise price Conversion shares not include
Slide 34: Management & Directors
Management & Directors Chris Adams Carl Tricoli Justin Machin Chairman, Director Director Director Financial Leader in Debt & Equity. Former Head of Founder and Partner of $12B Denham Capital Managing Director at Denham Capital. M&A Mining Finance with Macquarie Group; CIBC Management LP leader in c
Slide 35: A Copper Discovery to Production Company
A Copper Discovery to Production Company TSXV: COR OTC: CAMZF caminocorp.com [email protected] 604-493-2058
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