Investor Presentation - Microcap Investment Conference
Released
Released
Announcement PDF
Aureka Limited | ACN 125 140 105
Level 30, 35 Collins St, Melbourne VIC 3000
www.aureka.com.au
21 October 2026
ASX Market Release
Microcap Investment Conference | Investor Presentation
Aureka Limited (the Company or Aureka) is pleased to release the following Investor Presentation that
will be delivered today at the 15th Annual Australian Microcap Investment Conference being held at the
Sofitel Melbourne, on Collins Street.
This announcement has been approved for release by the Board.
For further information, please contact:
James Gurry
Managing Director
James.Gurry@aureka.com.au
+61 451 349 688
ASX:AKA |
aureka.com.au 1
Victoria’s new high-grade
Gold Producer
Investor Presentation | Australian Microcap Investment Conference
Sofitel Melbourne | 20–21 October 2026
ASX:AKA |
This presentation has been prepared by Aureka Limited (Aureka or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The
information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to
whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and
warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an
inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any
information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under Australian
law or under any other law. It has been prepared for information purposes only and is not a recommendation as to whether to invest in Aureka shares. The information contained in this
presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into
account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on Aureka
management estimates.
This presentation does not include all available information on Aureka, and any potential investor should also refer to Aureka’s Annual Reports and ASX releases and take independent professional
advice before considering investing in Aureka. For more information about Aureka Limited, visit the website at www.aureka.com.au.
No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To
the maximum extent permitted by law, none of Aureka or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising
out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the
accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or returns contained in this presentation nor is any obligation assumed
to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Past performance is no guarantee of future performance.
This presentation may contain “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of
forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements
regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other
factors, many of which are outside the control of Aureka and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any
projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and
Aureka assumes no obligation to update such information
Information provided by HGH
Information in this presentation about High Grade Holdings Pty Ltd (HGH), Core Prospecting Pty Ltd, the Fiddlers Creek Mine and the Wedderburn Mill, including historical operating data, has been
provided by HGH. Aureka has reviewed that information against available records but has not independently verified it. Historical operating data is unaudited and is not a production target, forecast
or guidance. Completion of the proposed acquisition remains subject to conditions, including Aureka shareholder approval, and there is no certainty that it will occur.
Competent Person Statement
The information in this presentation that relates to the Mineral Resources and Exploration Targets of the Irvine Gold Project is extracted from Aureka’s ASX announcement dated 18 June 2026 titled
‘Global JORC Resource Increase to over 450koz’ (which references the Navarre Minerals Limited announcement dated 30 March 2021 for the Adventure Exploration Target), and the information that
relates to the Mineral Resource and Exploration Target of the St Arnaud Comstock Gold & Silver Project is extracted from Aureka’s ASX announcement dated 13 June 2025 titled ‘St Arnaud Maiden
JORC MRE and Exploration Target – Amended’ (together, the Original Announcements), which are available at www.asx.com.au and www.aureka.com.au. The Company confirms that it is not aware of
any new information or data that materially affects the information included in the Original Announcements and that all material assumptions and technical parameters underpinning the estimates
in the Original Announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have
not been materially modified from the Original Announcements. Aureka has not reported any Ore Reserves and has not reported a Mineral Resource estimate for the Fiddlers Creek Mine in
accordance with the JORC Code. This presentation does not contain a production target or forecast financial information for any project. The Comstock and Irvine projects have Inferred Mineral
Resources and Exploration Targets only; any future development of those projects, or of any other exploration project, is subject to further studies, approvals and a development decision, and there
is no certainty that any of them will be developed. The information in this presentation that relates to the geology and mineralisation of the Fiddlers Creek Mine and its surrounding tenure is based
on, and fairly represents, information compiled or reviewed by Mr Jozef Story, Exploration Manager of Aureka and a Member of the Australian Institute of Geoscientists (MAIG) (#10079). Mr Story
has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’, and consents to the inclusion in this presentation of the matters based on his
information in the form and context in which they appear. The information in this presentation that relates to exploration results at the Fiddlers Creek Mine is extracted from Aureka's ASX
announcement dated 30 September 2026 titled 'Drilling Commences at Fiddlers Creek', which is available at www.asx.com.au and www.aureka.com.au, and is based on, and fairly represents,
information compiled by Mr Jozef Story (MAIG #10079). The Company confirms that it is not aware of any new information or data that materially affects the information included in that
announcement. The Mineral Resources and Exploration Targets referred to in this presentation are summarised on page 3.
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Important Notice and Disclaimer
ASX:AKA |
Exploration Target
On 18 June 2026, Aureka Limited ASX:AKA announced the increase to their maiden gold Exploration Target at its flagship 100%-owned
Irvine Gold Project in Victoria, Australia. Notably, the Exploration Target upgrade was constrained to the current drill footprint at the
Resolution lode. The Exploration Target relating to the Adventure lode remains unchanged from the Maiden Resource announced on 30
March 2021 by Aureka Limited. The potential quantity and grade of both the Resolution Lode and Adventure Lode Exploration Targets are
conceptual in nature, as at the time of reporting, there has been insufficient exploration to estimate a Mineral Resource within these two
areas and it is uncertain if further exploration will result in the estimation of a Mineral Resource in relation to these Exploration Targets.
The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.. On 13 June 2025
(amending its announcement of 26 May 2025), Aureka (ASX:AKA) announced a maiden JORC Mineral Resource and Exploration Target for
the St Arnaud Comstock Gold & Silver Project. The potential quantity and grade of the Comstock Exploration Target is conceptual in
nature, there has been insufficient exploration to estimate a Mineral Resource over the target area and it is uncertain if further
exploration will result in the estimation of a Mineral Resource. The basis for each Exploration Target, the exploration activities proposed
to test it and the timeframe for that work are set out in the Original Announcements referred to on page 2.
Summary of Relevant Exploration Data, Methodology, and Assumptions
Previously engaged consultants had, in conjunction with Company personnel generated an estimate of the Exploration Target for the
Resolution and Adventure prospects. These Exploration Targets represent the strike and depth/plunge extensions to the Mineral
Resources defined for both deposits. The results of this estimation are presented in the Exploration Target table on this page. The
Resolution and Adventure prospects are intersected by a predominantly west dipping shear zone which broadly mimics the strike of the
Irvine basalt dome. Gold occurs on or adjacent to the shear zone, typically on meta-basalt/meta-sediment contacts where the rheological
contrast provides an ideal locale for shearing and mineralisation. The attitude of the contacts also influences the shear geometry
resulting in localised, high-grade gold shoots.
The Exploration Target was based on the interpretation of the following geology and mineralisation data that had been collated as part of
the 2021 MRE statement:
42 structurally oriented diamond drillholes and169 aircore drill holes drilled by Aureka Limited and 8 structurally oriented diamond
drillholes drilled by Aureka Limited for a total of 28,152 m at the Resolution,
10 structurally oriented diamond drillholes and 195 aircore, drill holes for a total of 17,952 m at the Resolution prospect that have
been drilled by Aureka Limited.
985 density measurements on mineralised diamond drill core, and the determined SG’s were applied to the appropriate lithological
units involved with the Exploration Target,
surface geological mapping, costean data and diamond core geological logging,
detailed LiDAR imagery,
geophysical datasets including detailed ground magnetic and 3D induced polarisation, and
wireframing and modelling of the Resolution and Adventure mineralised bodies.
Two Advanced and four Conceptual Exploration Targets have been defined at the Resolution prospect. Targets considered Advanced are
up-dip or along strike of known mineralisation and proximal to some anomalous legacy aircore drilling and favourable geophysical
response and range between 2.0 g/t gold and 2.3 g/t gold and because the exact dimensions are unknown, a lower limit of half the upper
limit results in 1.33Mt, assuming trend derived when calculating the MRE update. Advance ET 1 was defined using the upper limit strike of
540m, down dip of 400m (excludes the area of shallow AC holes and only includes fresh rock material), a width of 3m and a density of 3.8
g/cc and an average grade between 2.0g/t to 2.3g/t for a half the upper limit of 450kt; Advance ET 2 was defined using the upper limit
strike of 1500m, down dip of 100m, a width of 5m and a density of 2.3 g/cc and an average grade between 2.0g/t to 2.3g/t for a half the
upper limit of 880kt. Targets considered Conceptual exist to the west of the main line of Lode, however form extensions to known historic
mines. Broad trends are evident on the TMI data however there is a lack of modern sampling data. The Conceptual Exploration Targets
were defined using an upper limit strike of 4,000m, down dip of 100m, a width of 5m and a density of 2.35 g/cc and an average grade
between 2.0g/t to 2.3g/t for a half the upper limit of 2.35Mt.
For the Adventure prospect Exploration Target remains unchanged from 30 March 2021 Maiden MRE and was estimated based on the
wide spaced exploration drilling that has been completed to date. The mineralisation as defined by these drill results does not currently
have adequate confidence to be classified as a Mineral Resource. However, Mining Plus considers that the estimation of an Exploration
Target is possible for the mineralised extents that have been modelled. The ranges for tonnage, grade and ounces have been estimated
using the Adventure block model results reported at a 1 g/t Au cut-off (Figure 10 of the 30 March 2021 announcement) for those
estimated blocks remaining unclassified (that do not satisfy the criteria of an Inferred Mineral Resource). A -20% and +30% range has then
been applied to determine the ranges required for reporting an Exploration Target. It is important to note that as these estimated blocks
do not meet the requirements of a Mineral Resource, there is increased likelihood of grade extrapolation, rather than interpolation,
hence the application of suitable tonnage, grade and ounce ranges for the Adventure Prospect Exploration Target. The upper grade,
tonnage and ounces range of +30% has been based on the presence of two of the higher grade and thicker intercepts returned to date
for Adventure being located at the base of the Exploration Target.
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Exploration Target & Mineral Resource
Information
Exploration Target Range
Prospect Tonnes (Mt) Gold Grade (g/t) Gold Ounces (k Oz)
Resolution Advanced Targets 1.33 – 2.66 2.0 – 2.3 85 – 197
Resolution Conceptual Targets 2.35 – 4.7 2.0 – 2.3 151 – 348
Adventure 1.0 – 1.6 2.0 – 3.2 80 – 120
Total Irvine 4.68 – 8.96 2.0 – 2.82 316 – 665
Comstock St Arnaud 3.0 – 3.5 1.0 – 1.2 112 – 116
Source: ASX announcements 18 June 2026 (Irvine Resolution), 30 March 2021 (Irvine Adventure) and 13 June 2025 (Comstock). Exploration Targets are conceptual
in nature – see the cautionary statements on this page.
Mineral Resources – Aureka Mineral Resources (all Inferred) – June 2026
Prospect
Cut-Off Gold
(g/t)
Tonnes Gold Grade (g/t) Gold Ounces
Resolution Open Pit ≥0.5 1,775,000 2.16 123,000
Adventure Open Pit ≥0.6 680,000 1.85 40,300
Total Irvine (Stawell) Open Pit Various 2,455,000 2.07 163,300
Resolution Underground ≥1.0 2,335,000 3.13 235,000
Total Irvine (Stawell) Various 4,790,000 2.59 398,300
Comstock (St Arnaud) ≥0.5 1,450,000 1.21 56,500
Total All Projects Various 6,240,000 2.27 454,800
The Mineral Resources in the table above are reported in accordance with the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition and are extracted from Aureka’s ASX
announcements dated 18 June 2026 (Irvine Resolution), 30 March 2021 (Irvine Adventure) and 13 June 2025 (Comstock) –
see the Competent Person Statement on page 2. All tonnages reported are dry metric tonnes. Minor discrepancies may
occur due to rounding to appropriate significant figures
Irvine 2026 Mineral Resource Estimate
Irvine Gold Project – 2026 Mineral Resource Estimate (summary extracted from Aureka’s ASX announcement dated
18 June 2026)
All drilling data utilised in the MRE has been collected from Air Core (AC), Reverse Circulation (RC) and Diamond (DD) drilling
completed between November 2016 and March 2026. AC and RC drill spacing was completed on approximately 50m to
100m northings and 20m to 40m eastings depending on land access. Diamond drilling was completed on a nominal 80m by
80m drill spacing.
The geology and mineralisation data that collated as part of the 2026 MRE statement comprised 48 structurally oriented
diamond drillholes and 31 aircore, drill holes for a total of 21,984 metres drilled. Of this data, Aureka has completed 8
diamond holes for a total of 4,687 metres of diamond drilling in the period since January 2025, including holes 48-49
focused around the Tenacity fault that has driven a significant increase in estimated underground Resources.
The wireframes used a nominal 0.2 g/t gold cut off however at times lower values were used to ensure continuity of the
domain. A minimum downhole length was not used but generally the resultant wireframes were between 1m and 5m true
width.
The Mineral Resource for the Resolution Zone was classified as Inferred and totals 4,110 kt @ 2.71 g/t gold for 358 koz Au.
This was compiled using a cutoff of 0.5 g/t gold above 140 mRL and 1 g/t below 140 mRL.
ASX:AKA | 4
aureka.com.au
EXPLORER TURNED HIGH GRADE GOLD PRODUCER
Operating mill and mine,
Highly complementary transaction
Immediate production plus incremental and scale growth
NEAR TERM LOW CAPEX GROWTH
Production ramp up at Fiddlers Creek
Near mine drilling at Fiddlers Creek
Comstock brownfield restart (production licence submitted)
LONG TERM SCALE
Portfolio JORC Resources 455koz @ 2.3g/t gold (100% inferred)
Irvine Gold Project - one of Victoria’s largest gold projects in a
multi million ounce corridor
LOW MKT CAP, DEBT FREE, FREEHOLD LAND
~$30M market cap and in production
Net cash, freehold land over Irvine and St Arnaud projects
Tier 1 board of Directors
Continuous production and drilling = near term catalysts
The state of play:
A new Aureka
Fully integrated gold company with current
production, near term low capex growth, and scale
projects centered around a 100% owned mill.
Plan view of Victoria showing Aureka's key projects (refer ASX release 30 September 2026).
ST ARNAUD COMSTOCK
WEDDERBURN MILL
FIDDLERS CREEK MINE
IRVINE PROJECT
(STAWELL
CORRIDOR)
JUBILEE
ASX:AKA | 5
aureka.com.au
Transaction steps Aureka into production in a controlled manner (debt free, low overheads, incremental
growth via ramp up, additional working capital and near mine exploration).
Currently processing Fiddlers Creek underground mine
(~100km away)
Spare capacity that could potentially process Comstock
(~45km) or Irvine (~130km) ore in future – subject to studies,
approvals and development decisions; no decision has
been made
Gold, Silver, Lead
(underground)
(in production)
56koz JORC
Infill drilling, feasibility &
approvals. Licence application in
progress
398koz Inferred Resource
Exploration upside
Renowned global commodity house
Market-based offtake agreement for 100% of Fiddlers
Creek Mine output for 12 months, extendable
Prompt payment terms
An operating mine feeding a permitted mill, with exploration upside.
¹ ASX Release 18 June 2026: Global JORC Resource Increase to over 450koz
² ASX Release, 13 June 2025: St Arnaud Maiden JORC MRE and Exploration Target - Amended
STEP CHANGE FOR AUREKA
WEDDERBURN GOLD
PROCESSING MILL
AUREKA'S PROJECT PIPELINE
Fiddlers Creek
Gold, Silver,
Lead
St Arnaud
Comstock Gold
& Silver
Irvine Gold
Project
SALES BACKED BY OFFTAKE AGREEMENT:
MINERAL RESOURCES (INFERRED)
Prospect
Cut-Off Gold
(g/t)
Tonnes
Gold Grade
(g/t)
Gold Ounces
Irvine (Stawell)
– Inferred
Various 4,790,000 2.59 398,3001
Comstock (St
Arnaud)
– Inferred
Various 1,450,000 1.21 56,5002
Total – Inferred Various 6,240,000 2.27 454,800
Fiddlers Creek: in production, but no JORC Resource statement currently available. FY26 production 416 oz at 7
g/t.
ASX:AKA | 6
aureka.com.au
GOLD PROCESSING
MILL
Wedderburn Mill – Fully permitted
and ramping up
UNIQUE ASSET UNLOCKS $$ FOR PORTFOLIO
• One of only six mills in the State of Victoria
• Current mill feed: Fiddlers Creek Gold Mine (100km)
• 45km from Comstock St Arnaud, 130km Irvine Gold Project
LOW OPERATIONAL COST, LOW CAPITAL, LOWER RISK
• Low OPEX, and low bond requirement: $500,000
• Mill on private freehold land under long term lease
PROVEN PROCESSING
• Gravity and floatation recovery | Wet and dry stack tailings
• Licensed to receive toll treatment ore (dual revenue streams)
• Concentrate output sold to offtake partner
CURRENT UTILISATION ~20% (BATCH PROCESS 2+ DAYS/WK)
• Spare capacity available for Aureka's own projects (subject to
studies, approvals and development decisions) and for third-party
toll treatment
• Other potential future ore sources (exploration stage; subject to
exploration success, studies and approvals)
GROWTH POTENTIAL
• Total current capacity (~42kt/yr) (on 80% uptime).
• Permitted 5 days 8am–6pm plus half Saturday
• Studies underway to add additional hours / capacity
ASX:AKA |
FIDDLERS CREEK GOLD MINE
Fiddlers Creek – Producing Gold Mine
Mining Licence
• Mine Licence application lodged (mine currently operates under
granted Prospecting Licence)
• Planning Permit in place
• Granted Exploration Licence (approximately 39 km²)
• Approved Work Plan
Underground Mining:
• Production started July 2025
• Handheld underground mining
• Permitted 24 hours 7 days (currently operating M–F)
• Surface ore cartage Permitted: M–F (7am–6pm).
Fiddlers Creek
GOLD MINE
ASX:AKA |
Performance of Fiddlers + Wedderburn
Production at the mine and mill
commenced July 2025
FY26 Production (12 months):
Average head grade mined and milled 7 g/t
Total gold recovered in 12 months: 416 oz, 13 kg
(inclusive of lower recoveries during mill commissioning)
Average recoveries (commissioning): 86% Highest 91%
Average monthly concentrate gold grade ~70 g/t
Flotation circuit commissioned: February 2026
Positive monthly free cash flow since Q2 2026
(HGH unaudited management accounts)
Under the existing offtake arrangements, payabilities have typically
exceeded 90% for gold and silver, depending on metal grades in
concentrate and other applicable offtake specifications.
The information above is historical operating data for the FY26 ramp-up period. It is unaudited, is not a
production target, forecast or guidance by Aureka, and should not be relied on as an indication of future
production or financial performance. Information provided by HGH was reviewed by Aureka & its consultants
during due diligence process against available transaction records, mill receipts and offtake customer
payments
OPERATING
PERFORMANCE
COMBINED
FY26 ramp-up results of mine and mill
Operating Performance
ASX:AKA |
Adding value to acquired assets: Fiddlers Creek: Drilling Underway
aureka.com.au 9
Diamond drilling commenced 30-Sept
• First surface drilling at Fiddlers Creek since May 2025 –
≥400m near-mine program
• Infill and upgrade zones of mineralisation and test key
areas for underground infrastructure
• Mineralisation remains open along strike, down-plunge to
the south-east and down dip
• Repeating or intersecting further high-grade
mineralisation could add ounces beyond the current
mine plan
• ~39 km² of surrounding exploration licences: 6
mineralised trends and 600+ historical workings
Long section of Fiddlers Creek with legacy drill intercepts (previously not reported to ASX).
High-grade legacy drill results
Hole Intercept Including
FKH08 1.19m @ 40.48 g/t Au from 19m 0.06m @ 786.1 g/t Au from 20.13m
FDDH008 1.57m @ 31.09 g/t Au from 135.14m 0.26m @ 134 g/t Au from 136.45m
FDDH012 1.87m @ 21.21 g/t Au from 97.23m 0.19m @ 156 g/t Au from 98.91m
FKH031 0.35m @ 1,600 g/t Ag and 1.2 g/t Au from 23.35m –
Refer ASX release 30 September 2026: Drilling Commences at Fiddlers Creek. Legacy results not previously reported in an ASX context.
ASX:AKA |
Board of Directors & Executive Management
aureka.com.au 10
Experience. Capability. Commitment. A proven team aligned to deliver production and growth.
BOARD OF DIRECTORS EXECUTIVE MANAGEMENT
Graeme Hunt
Non-Executive Chairman
BHP / Lihir Gold /
Newcrest
Broadspectrum
AGL Energy
James Gurry
Managing Director
Credit Suisse /
Deutsche Bank
Red Hawk Iron Ore
(RHK)
Richard Taylor
Non-Executive Director
Head of Public Affairs,
Newmont Asia Pacific
Mineral Deposits /
PanAust / MMG
Angela Lorrigan
Non-Executive Technical
Director
Southern Cross Gold
(SX2)
Recipient of
Tasmania's
Twelvetrees Medal for
services to exploration
Marcus Binks*
Non-Executive Director
(nominee)
Metallurgist, 30+ years
in gold, base metal &
mineral sands
processing
Former Processing
Manager, Fosterville &
Young-Davidson
Developed world-first
HiTECC heated leach
process; helped
establish the
Wedderburn Mill
Zane Smith
Chief Operating Officer
Mining operations,
mine start-up,
technical services and
major project
management
Stawell Gold Mine
Jozef Story
Exploration Manager
25 years of global
industry experience
spanning Australia,
Asia, Central Asia,
Africa and Russia
Fosterville,
Barrick Gold
Corporation
* Marcus Binks has been nominated by High Grade Holdings for appointment as a Non-Executive Director. His appointment is expected to take effect on completion of the transaction, expected soon after the shareholder vote on 23 October 2026. Refer ASX
release 24 September 2026: Leading Metallurgist Nominated to the Board.
ASX:AKA |
Capital Structure^
aureka.com.au 11
AKAAAC Performance rights: 10,300,000 (various strike prices 15c, 20c , 25c, 30c) AKAAAD Broker Options: 3,092,000 (exp, 8-Nov-27, strike $0.20). ZEPOS:
3,434,286 for Directors based on length of service.
60.5%
3.9%
5.6%
30.0%
BOARD OF DIRECTORS
INSTITUTIONS
HNW / FAMILY OFFICES
OTHER
SHARE REGISTER
AUREKA’S TOP 20 SHAREHOLDERS
REPRESENT 44% OF THE COMPANY $0.145
Share Price (9 Oct 2026)
209m
Shares on Issue
~$30m
Market Cap
~$7m
Cash at Bank (pro-forma)
~$23m
Enterprise Value
$0
No debt or convertibles
^ Acquisition of Mill & Mine: Vendor scrip, Placement and SPP (all 12c/share)
Recently raised >$7m to transition to producer
✓ Share Placement: $5.65m @ 12c
✓ Tranche 1 – $4.4m / 36.5m shares already issued
✓ Tranche 2 - $1.3m (10.6m shares subject to approval)
✓ Share Purchase Plan: $1.6m @ 12c (shares issued) (exceeded target)
General Meeting (GM) – 23 October 2026
▸ Tranche 2: $1.3m (10.6m shares)
▸ Vendor consideration: $2.5m cash and $6.4m AKA shares (~53m
shares), to be issued after 23-October
ASX:AKA |
Growth Story So Far… A team that delivers
aureka.com.au 12
DECEMBER
2024
ASX debut
with 304koz
in one single
project
JANUARY
2025
Commence
diamond
drilling at
Irvine Gold
Project
MARCH
2025
Acquire
freehold land
at Irvine Gold
Project
JUNE
2025
Maiden
Inferred
Resource at
St Arnaud
(Comstock)
56koz
OCTOBER
2025
Tenacity
discovery at
Irvine Gold
Project
JUNE
2026
Increase in
Inferred
JORC
Resources to
455koz
50% higher
than ASX
debut
JULY
2026
Comstock
production
licence
application
First step
toward
production
SEPTEMBER
2026
Agreement
to acquire
Wedderburn
Mill &
Fiddlers
Creek Mine
From
explorer to
producer –
adds mill to
unlock
commercial
pathway for
whole
portfolio
Plenty more
to come…
ASX:AKA | 13
aureka.com.au
*The potential quality and grade of this exploration target is conceptual in nature, there is currently insufficient exploration completed to support a mineral resource of this size, and it is uncertain whether
continued exploration will result in the estimation of a JORC resource. The exploration target has been prepared in accordance with the JORC Code (2012). A detailed basis for this statement, including the
completed exploration activity, has been provided on slide 3 of this presentation
Aureka:
Producing & Growing
Stay informed
Scan to subscribe to Aureka email
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SIZE OF PRIZE IS HUGE
✓ Producing: Fiddlers Creek (mine) + Wedderburn (mill)
✓ Near Term Growth: Fiddlers Crk growth + Comstock (in application)
✓ Scale Growth: Irvine 1moz+ potential in multi-million-ounce corridor
WHAT TO EXPECT (NEWSFLOW & CATALYSTS)
Potential drilling results
▸ Fiddlers Creek – near mine drilling
▸ Irvine – drilling into Exploration
Target areas*
▸ Comstock – infill program
Project catalysts
▸ Fiddlers Creek – production
growth
▸ Comstock – production licence
application
▸ Comstock – metallurgical testing
ASX:AKA |
Prospect
Cut-Off
Gold (g/t)
Inferred
Tonnes Gold Grade (g/t) Gold Ounces
Resolution OP* >0.5 1,775,000 2.16 123,000
Adventure OP >0.6 680,000 1.85 40,300
Total Irvine Open Pit* Various 2,455,000 2.07 163,300
Resolution UG* >1.0 2,335,000 3.13 235,000
Total Irvine (Stawell) Various 4,790,000 2.59 398,300
Irvine Gold Project (Stawell Corridor) (camp scale potential)
aureka.com.au
ASX:AKA | 14
Southern Trend
Three prospective basalt
contacts underneath
Tertiary basalt cover
398koz Au Resource
with
85-197koz Advanced ET
181-348koz Conceptual ET
Au, Ag & Cu project
within the Stavely Belt
underneath Tertiary basalt
cover
Morning Bill
Irvine (+94koz Au)
Added*
398koz Au MRE
+500koz
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