Caspin Resources Ltd. · ASX:CPN
Caspin Resources — Shareholder Meeting (November 2026)
20 slides from Caspin Resources's shareholder meeting presentation, Nov 4, 2026
Slide 1: Annual General Meeting
rsonal use only ANNUAL GENERAL MEETING CASPIN RESOURCES (ASX: CPN) GREG MILES, Managing Director 4 November 2026 A grey globe with black background Icon A white and black logo AI-generated content may be incorrect. Description automatically generated AI-generated content may be incorrect. www.caspin
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not
Slide 3: Corporate Overview
CORPORATE OVERVIEW Successful exploration, corporate and capital markets team CPN – ASX Share Performance (6 months) LEADERSHIP TEAM $0.160 4,000,000 Volume Close $ $0.140 3,600,000 rsonal use only 3,200,000 $0.120 2,800,000 $0.100 2,400,000 $0.080 2,000,000 $0.060 1,600,000 1,200,000 $0.040 800,000
Slide 4: Caspin 2026 Highlights
CASPIN 2026 HIGHLIGHTS JAN • Excellent Kelpie metallurgical results. Up to 84% recovery rsonal use only MAR • A$6M equity placement. Introduction of new key shareholders • High-grade drill extensions from the Stewarts Zone. APR • Divestment of Mount Squires Project for shares and royalty JUN • New E
Slide 5: The Original Critical Metal
The Original Critical Metal • Tin’s outstanding price performance over past 12 months • Production dominated by developing countries compared to copper and gold • Limited new supply rsonal use only • Increasing demand in electronics: Data centers New solar cell technology EV growth World Mine
Slide 6: Bygoo – A Growing Tin Project
Bygoo – A Growing Tin Project In the heart of the Wagga Tin Granite Belt, NSW • 100% ownership of the Bygoo Tin Project covering 1,500km2 rsonal use only • Surrounds the Ardlethan Tin Mine (excised), which was the largest tin mine on mainland Australia, producing >31kt Sn until 1986 October 2026 K
Slide 7: Kelpie Deposit 2026 Mineral Resource Estimate
Kelpie Deposit 2026 Mineral Resource Estimate The foundation of a stand-alone tin operation • Indicated and Inferred Mineral Resource Estimate of: rsonal use only 6.5Mt @ 0.43% Sn for 28Kt of contained tin • A 45% increase in contained tonnes since maiden MRE, from only 8,400m of additional drilling
Slide 8: Kelpie 2026 MRE: Maiden Indicated resource
Kelpie Deposit 2026 Mineral Resource Estimate Maiden Indicated resource – a significant step • Indicated MRE represents 25% of the total MRE rsonal use only Driven by an improved geological model and increased drill density • Supported by Caspin’s own process flowsheet and independent costings • A
Slide 9: Kelpie 2026 MRE: Exploration drilling to continue
Kelpie Deposit 2026 Mineral Resource Estimate Exploration drilling to continue • Significant exploration success in 2026 on the back of rsonal use only enhanced geological model Discovery of Errol’s Zone: 20m @ 2.11% Sn (BRC055) • Demonstrates prospectivity between Dumbrell’s and Stewart’s Lodes •
Slide 10: Diamond drilling indicates extensions outside MRE
Kelpie Deposit 2026 Mineral Resource Estimate Diamond drilling indicates extensions of mineralisation outside MRE • Diamond drilling has tested down-plunge extensions rsonal use only on Stewarts and Dumbrell’s Zones • Strong greisen alteration intersected in all four holes completed to date (assays
Slide 11: Kelpie Deposit - Metallurgy Results
Kelpie Deposit - Metallurgy Results Excellent Results with simple flowsheet = Competitive Advantage • Clean cassiterite (SnO2) mineralisation rsonal use only • Results compare favourably to every tin mine and development project Recoveries commonly circa 75-80% • Options to develop either a gravit
Slide 12: A District-Scale Opportunity
A District-Scale Opportunity Discovery of new deposits a key part of Caspin’s strategy • Kelpie Deposit and extensions represent just 5% of the prospective rsonal use only eastern contact of the Ardlethan Granite • 20km of prospective contact and key structures, with very little modern exploration •
Slide 13: The Moss Prospect – A Kelpie Look-a-like
The Moss Prospect – A Kelpie Look-a-like Exploring a blind greisen target • Part of >1,000m geochemical tin anomaly associated with Kelpie rsonal use only • Similar IP and gravity signatures to Kelpie, identifying potential mineralised structures • Initial drilling completed – results pending 13
Slide 14: Ardlethan: Australia's Largest Mainland Tin Producer
Ardlethan: Australia’s Largest Mainland Tin Producer No systematic exploration for forty years • Developing targets at Ardlethan East and Ardlethan South adjacent to the rsonal use only Ardlethan Mine (>31kt Sn production) • Intersection of large alteration halos (>100m) with anomalous tin and pathf
Slide 15: Emerging Tin and Tungsten Prospectivity at Taylors Hill
Emerging Tin and Tungsten Prospectivity at Taylors Hill Tungsten a common accessory in tin mineral systems • Tungsten in soil anomaly striking > 800m rsonal use only • Historical tin and tungsten workings • Mineralisation potential confirmed by historical drilling in the 1970s: 3.0m @ 3.69% WO3 & 0
Slide 16: Kelpie – A Significant Australian Tin Project
Kelpie – A Significant Australian Tin Project 1 7 rsonal use only Kelpie is an 1. Peer group represents all ASX listed companies with primary tin development assets and First Tin PLC, listed on LSE. exceptional 2. MLX Mineral Resource Statement 29 June 2026 grade for an 3. SRZ ASX Announcement 2 Jul
Slide 17: Caspin's Investment Proposition
Caspin’s Investment Proposition October 2026 Kelpie MRE reaches an important development threshold rsonal use only Potential for further resource growth through Kelpie extensions and regional discoveries High metallurgical recovery from a simple flowsheet – a competitive advantage Very strong long-t
Slide 18: Caspin Resources Limited
rsonal use only CASPIN RESOURCES LIMITED Ground Floor, 675 Murray Street West Perth, Western Australia 6005 T: +61 8 6373 2000 E: [email protected] ASX: CPN FOLLOW US: Receive news direct to your inbox Subscribe on the Caspin website QR 26/03/2 4 www.caspin.com.au
Slide 19: Appendix: OZL Contingent Consideration
APPENDIX: OZL Contingent Consideration Caspin holds the right to receive a potential payment of up to A$20m • On 22 June 2020, OZ Minerals (OZL) and Cassini announced the scheme of arrangement whereby OZL would acquire 100% of rsonal use only Cassini, consolidating its ownership of the West Musgrave
Slide 20: Appendix: Peer Comparison Resource Tables
APPENDIX: Peer Comparison Resource Tables rsonal use only ASX MEASURED INDICATED INFERRED TOTAL Release COMPANY Project Location Date Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Comments METALS X Renison Tasmania 29/06/2026 3.7 1.73 64 14.9 1.34 200 3.
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