Investor Presentation - South-West Connect
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Unlocking an Emerging Gold-Tungsten
Metallogenic Province in NSW
INVESTOR PRESENTATION
2026
Public information sourced from Right Resources ASX announcements: 21 May, 15 June, 17 July 2026; June Quarter Activities Report 30 July 2026, 12 August, 24 August, 27 August 2026, 4 September, 21 September, 13 and 27 October 2026.
ASX:RRE
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IMPORTANT INFORMATION
This presentation (Presentation) is provided for information purposes only and has been prepared by Right Resources Limited (ABN 81 649 632 744) (Right Resources or Company). This Presentation has been
authorised for release by the Managing Director of the Company. This Presentation is not a prospectus, product disclosure statement or other disclosure document under the Corporations Act (or otherwise)
and does not contain all the information required to be disclosed in a prospectus, product disclosure statement or other disclosure document. This Presentation, the information contained in it and any oral
statements made in connection with this Presentation shall not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities, or a commitment of the
Company with respect to any of the foregoing, and this Presentation shall not form the basis of any contract. There shall not be any offer or sale of any securities of the Company in any jurisdiction where, or to
any person to whom, such offer or sale may be unlawful under the laws of such jurisdiction. This Presentation may not be released to US wire services or distributed in the United States. The distribution of this
Presentation in the United States and elsewhere outside Australia may be restricted by law. Persons who come into possession of this Presentation should observe any such restrictions as any non-compliance
could contravene applicable securities laws.
Forward looking statements
This Presentation may include “forward-looking statements”. Which are statements that may be identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions (or the negative versions of such words or expressions) that involve risks or uncertainties. In
particular, any indications of, and guidance on, future earnings, financial positions and performance, exploration results and future studies, are forward-looking statements. These statements are based on an
assessment of present economic and operating conditions and on a number of best estimate assumptions regarding future events and actions that, as of the date made, are expected to take place. Such
forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of
the Company, and which are based on assumptions and contingencies subject to change without notice, and which could cause actual results or trends, projections, guidance and estimates to differ
materially from those expressed in this Presentation.
Relevant factors include risks associated with mineral exploration, project development and construction and the mining, processing and sale of minerals, including without limitation obtaining environmental
and regulatory approvals and the time and conditions attached to the same, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand
for exploration and production inputs, the outcomes of studies, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing
quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions and geological and
geotechnical events. Any forward-looking statements should be read in conjunction with, and are qualified by reference to, the information in the Company’s Prospectus dated 19 September 2025 (in
particular, the key risk factors).
The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Presentation will actually
occur and recipients are cautioned not to place undue reliance on these forward-looking statements. No person who has made any forward-looking statements in this Presentation (including the Company)
has any intention to update or revise forwardlooking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the
information contained in this Presentation, other than to the extent required by law.
Exploration Results
The information in this Presentation that relates to the Company's Exploration Results has been extracted from the Company's previous ASX announcements released on 27 2025, 21 and 27 November 2025, 5
and 20 February 2026, 21 and 26 May 2026, 4 and 15 June 2026, 17 July 2026, 12, 24 and 27 August 2026, 4 and 21 September 2026, 13 and 27 October 2026.
Copies of these announcements are available at www.asx.com.au or www.rightresources.com.au/investors/asx-announcements. The Company confirms that it is not aware of any new information or data
that materially affects the information included in those announcements.
Disclaimer
This Presentation is for informational purposes only and does not purport to contain all of the information that may be required to evaluate the Company. No representations or warranties, express or implied,
are given by the Company or any of its affiliates, directors, officers, employees or advisers or any other person (each a Limited Party) regarding the accuracy or completeness of the information in this
Presentation and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. The Company
assumes no obligation to update the information in this Presentation. To the maximum extent permitted by law, each Limited Party expressly disclaims any and all liability (whether direct, indirect,
consequential or contingent), including, without limitation, any liability arising out of fault or negligence on the part of any person, for any expenses, damages, costs or loss arising from the use of information
contained in this Presentation including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising
out of or derived from, or for omissions from, this Presentation including, without limitation, any results, indications of prospective mineralisation, estimates or projections and any other information derived
therefrom. Right Resources has not carried out due diligence investigations in connection with the preparation of this Presentation, nor has it verified any of the contents of this Presentation.
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WHY RIGHT RESOURCES, RIGHT NOW?
District-scale opportunity. Emerging gold province. Multiple high-priority targets.
01
Emerging Gold & Tungsten
Province: First-Mover
Advantage
Highly prospective
2,459 km² landholding,
with 2,261km2 in the
emerging Tumbarumba
Reduced Intrusion-
Related Gold System
(RIRGS) province in NSW,
supported by Centre for
Ore Deposit and Earth
Sciences (CODES)
research.
02
Blue Project: Large-scale
Gold & Tungsten System
Extensive gold-tungsten
footprint identified, with
exploration focused on
locating higher-grade
zones for future resource
definition drilling.
Aster is a priority gold
target while multiple
scheelite-bearing lodes
at Moonlight.
03
Pilot Project: Large Gold
System with Metallurgical
Upside
Large RIRGS with
structural controls being
defined. Metallurgical
testwork confirms gold
recovery using
conventional processing
methods.
04
New England Project:
Multiple Exploration
Opportunities
Multiple high-priority
gold and copper
targets identified across
the New England
tenements, providing
additional exploration
upside.
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PORTFOLIO AT A GLANCE
Advanced exploration fronts across a 100%-owned NSW portfolio
Tumbarumba, southern NSW | Drilling underway
• 4.7 km × 3.4 km surface tungsten anomaly, district-scale exploration potential.
• Aster: Priority gold target with rock-chip results up to 5.16 g/t Au
• Moonlight: Multiple scheelite-bearing quartz lodes mapped, drilling planned
for November 2026
• Encouraging preliminary tungsten metallurgy, 51 aircore holes completed
across Blue as at 11 October 2026
Tumbarumba, southern NSW | Advanced exploration
• Large 2.4 km × 2.9 km interpreted RIRGS target footprint
• Phase 1 drilling intersects interpreted Au-As transitional halo
• Higher-grade Au-Bi-Te-W proximal target remains untested
• Preliminary metallurgy achieved 89.9% gold recovery in 24 hours
Northern NSW | Target generation
• Rising Sun and Midnight Star identified as priority gold-copper targets
• Surface geochemistry and mapping defining targets for further
exploration
BLUE
PROJECT
Tungsten + Gold
PILOT
PROJECT
Gold
NEW
ENGLAND
PROJECT
Gold + Copper
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CORPORATE OVERVIEW
Positioned to fund near-term exploration catalysts
~A$12.4M
Market
Capitalisation*
153.2M
Shares on Issue
~A$3.8M
Cash at 30
September 2026
LEADERSHIP TEAM
*Based on 153.2 million shares on issue and share price of 8.1c at 19 October 2026
A$0.081
Share price
Graham Howard Managing Director
39+ years geology & operations | Telfer, Boddington (Newcrest) | Fellow AusIMM | ASX IPO
success (VHM)
Lauren Robinson Executive Director 16+ years mining & construction | IR, capital raising, governance | ASX IPO success
Chris Brown Non-Executive Chairman 35+ years corporate advisory | Strategy & governance across resources and industry sectors
Michael Willoughby Non-Executive Director 27+ years resources | Global Co-Head Metals & Mining, Jefferies | M&A, debt & equity markets
Greg Winch Non-Executive Director 37+ years geologist | Founder & Chief Geology Officer, Allied Gold Corporation
Prof. David Cooke & Dr Francisco Testa (CODES) | Gavin Beer (Met-Chem Consulting)
Technical Advisors:
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COMPANY TIMELINE
A catalyst-rich period since listing
SEP 2025
ASX listing /
platform
established
FEB 2026
CODES RIRGS
framework and
regional
targeting
MAY–JUN 2026
Blue tungsten
identified and
expanded to
4.7 × 3.4 km
JUN 2026
Pilot drilling +
PhotonAssay
refines gold
distribution
AUG 2026
Blue metallurgy
and gold-
bismuth targets
advanced
SEP 2026
Maiden Blue
AC drilling
begins
Right has moved quickly from portfolio assembly and geological framework
development to near-term drilling at Blue, while maintaining exposure to Pilot
and New England.
OCT 2026
Blue: Aster rock-chip
assays up to 4.79 g/t
Au strengthen gold
targets
Moonlight mapping
identifies multiple
tungsten-bearing lode
targets.
OCT 2026
Pilot: preliminary
metallurgical
testwork achieves
89.9% gold recovery
in 24 hours.
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APPROVALS SECURED – UNLOCKING EXPLORATION
Regulatory milestones achieved. Drilling underway. Supportive NSW mining environment.
Blue: Key Drilling
Approvals Granted
NSW Forestry Corporation
Level 2 Permit and NSW
Resources Regulator APO
approval secured for
maiden drilling at Blue
(EL9028).
Pilot: Regulatory
Approvals Secured
Exploration activity and
water management
approvals secured at
Pilot (EL9449), enabling
completion of the
maiden diamond drilling
program.
Accelerating Exploration
Approvals have enabled
drilling at Blue and Pilot,
providing an established
platform to advance
priority targets and plan
follow-up exploration
programs.
NSW: Mining Environment
NSW Premier Chris Minns
has publicly supported
development of the
McPhillamys Gold Project,
while the recent Federal
Court ruling in favour of
Regis Resources
represents a positive
development for mining
investment in NSW.
Sources: Right Resources ASX announcements dated 27 August, 21 September and 12 2026; NSW Resources Regulator approval register; ABC News, 14 October 2026.
KEY INVESTMENT TAKEAWAY
Key approvals secured at both flagship projects, supporting accelerated exploration across Right Resources’
highly prospective NSW portfolio.
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Who is CODES?
CODES (Centre for Ore Deposit and Earth Sciences) at the
University of Tasmania is an internationally recognised
research centre specialising in economic geology and
mineral deposits.
Geological framework
CODES research supports the interpretation of a Reduced
Intrusion-Related Gold System (RIRGS), with distinct metal
associations providing a framework for targeting higher-
grade mineralisation.
Pilot supports the model
Maiden drilling intersected gold-bearing sheeted veins
within the interpreted Au-As transitional zone, while the
prospective proximal Au-Bi-Te-W target remains untested.
Broader exploration potential
Gold, tungsten and bismuth results at Blue provide further
geological evidence to refine targeting across the wider
Tumbarumba district.
Sources: Right Resources ASX announcements dated 26 May, 4 June and 15 June 2026; preliminary CODES/University of Tasmania geological interpretation.
DISTRICT-SCALE GOLD POTENTIAL
Independent geological research provides a framework for targeting mineralisation
across Tumbarumba
PROXIMAL (higher-grade
target)
Au-Bi-Te-W assemblage |
Intimate to intrusive
centre | Yet to be drilled
TRANSITIONAL (current
drilling)
Au-As geochemical
signature | Sheeted
veins intersected |
RRPT0001: 42m @ 0.2
g/t Au, and RRPT0004
Ag-Pb-Zn assemblage
| Outer halo of
system
METAL ZONATION - THE
ROAD TO HIGHER GRADES
DISTAL
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LEAD NEAR-TERM EXPLORATION STORY
1. BLUE PROJECT – TUNGSTEN & GOLD – LUNA & ASTER
4.7 × 3.4 km
defined surface tungsten
anomaly
Encouraging Early Metallurgical Results
27.0%
4.3% WO₃
rock-chip grades up to
5.16 g/t Au
peak rock-gold result
~2,000m
of aircore, 51 holes drilled
at 11 Oct
87.3%
initial WO₃ flotation
recovery
WO₃ head grade
0.48% WO₃
Aircore drilling underway at the Blue Project
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10
MULTIPLE GOLD, TUNGSTEN, BISMUTH TARGETS
OVER 7.8km E-W x 10.5km N-S
EXPLORATION
Four priority prospects now named: Aster, Luna,
Moonlight and Nova.
Source: Right Resources ASX announcement dated 13 October 2026.
BLUE
Highest ranked gold target. Gold-bismuth-tellurium targets
within a north-south shear corridor extending more than 4km.
Aircore drilling assay results pending.
Central tungsten-bismuth-gold targets and tungsten
metallurgical sample area.
Aircore drilling assay results pending.
Multiple tungsten and gold targets. Visible scheelite quartz lodes
up to 1m wide outcropping over hundreds of meters.
Drilling commences in late November.
Multiple quartz vein zones with sulphides mapped.
Drilling commences late November.
ASTER
LUNA
MOONLIGHT
NOVA
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11
DISCOVERY
HIGH-GRADE TUNGSTEN CONFIRMED AT SURFACE
4.3% WO₃
PEAK CERTIFIED ROCK CHIP
W–Bi
COINCIDENT GEOCHEMISTRY
• Feb to May 2026 results confirmed
high-grade tungsten mineralisation
at Blue, including a peak certified
rock-chip result equivalent to
approximately 4.3% WO₃.
• Primary tungsten minerals
identified include scheelite and
wolframite.
• Rock-chip results are selective
surface samples and are not
representative of average grade
or tonnage.
Sources: Right Resources ASX announcements dated 21 May and 15 June 2026. Quartz veining with visible tungsten (scheelite (592800 mE 6062100mN) Blue Project
BLUE
12
12
MAIDEN DRILLING WELL UNDERWAY – ASTER & LUNA PROSPECTS
EXPLORATION
• Maiden aircore drilling commenced 21
September 2026
• Initial program planned at approximately 2,000 m
across around 60 holes
• 51 holes completed by 11 October: 22 at Aster
and 29 at Luna
• Initial Aster assays anticipated in November,
subject to laboratory turnaround
• Reconnaissance drilling tests shallow targets and
is not designed to define a Mineral Resource
~2,000M
Initial AC Drilling
6 W + 5 Au
Targets
Initial Phase
30 - 50M
Initial Hole Depth
W + Bi + Au
Target Vectors
Sources: Right Resources ASX announcements dated 21 September 2026 and 13 October 2026
BLUE
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METALLURGY
LUNA - METALLURGY – SAMPLE DELIVERS 0.48% WO₃ HEAD GRADE
87% WO3
Flotation recovery
81.6% WO3
Heavy Liquid
Separation
• Initial testwork demonstrates tungsten
recovery through both flotation and
gravity-based separation pathways.
• Metallurgy testwork at Nagrom Perth WA,
one of Australia’s leading tungsten testwork
facilities
• Confirms Blue tungsten is amenable to two
metallurgy flowsheets for extraction
• Cleaner flotation testwork underway to
further optimise recovery and concentrate
characteristics.
Sources: Right Resources ASX announcements dated 17 July and 12 August 2026.
BLUE
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ASTER | PRIORITY GOLD TARGET
EXPLORATION
• Highest-ranked gold prospect at
Blue
• Previous selective rock-chip result
up to 5.16 g/t Au
• New surface rock-chip assays up
to 4.79 g/t Au and 3.07 g/t Au
• Mapping indicates a north–south
shear corridor extending more
than 4 km
• Drilling intersected pegmatites,
aplites, quartz veining and
shearing; assays pending
Source: Right Resources ASX announcement dated 13 October 2026.
BLUE
Sample from a pegmatite dyke.
Quartz veining. These lithologies are
associated with coincident gold,
bismuth and tellurium anomalism.
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LARGE SCALE GOLD SYSTEM
2. PILOT PROJECT - GOLD
2.4 × 2.9 km interpreted target footprint
3,039.5 m Phase 1 drilling completed
38 g/t Au Historical grade from Pilot
underground
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MAIDEN DRILLING RESULTS
RRPT0001: 2m @ 0.37 g/t Au from 338m, incl. 0.2m
@ 6.46 g/t Au from 351.5m
16m @ 0.35 g/t Au from 348m
7m @ 0.48 g/t Au from, 373m
RRPT0004: 3.7m @ 0.46 g/t Au from 342.3m, incl. 0.5m
@ 2.24 g/t Au from 342.75m
3.0m @ 0.11 g/t Au from 353.7m
2.4m @ 0.2 g/t Au from 362.6m
2.4 km × 2.9 km interpreted gold system
• Historic underground mining produced 2,662t @ 38 g/t Au,
with surface sampling returning up to 56.6 g/t Au
• 3,039.5m maiden drilling across five holes intersected gold-
bearing sheeted veins within the interpreted RIRGS system
• Geophysical anomalies extend >1km at depth, highlighting
the scale of the broader system
MAIDEN DRILLING SUPPORTS LARGE-SCALE GOLD SYSTEM
EXPLORATION
Drilling has demonstrated a coherent gold-bearing system, providing important geological vectors for the next
phase of exploration. Source: Right Resources ASX announcements dated 5 February, 4 June and 18 June 2026.
PILOT
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17
• 89.9% gold recovery achieved within 24 hours using
conventional cyanide leaching.
• Low reagent consumption provides encouraging early
indications of processing efficiency.
• Gravity testwork indicates a potential coarse-gold effect, with
a higher calculated head grade than conventional assays,
warranting further investigation.
• Results provide a useful technical reference for broader RIRGS
exploration, including Aster at Blue.
• Preliminary results from a 29 kg composite sample; further
testwork required to establish representative and commercial-
scale performance.
GOLD METALLURGY DELIVERS 89.9% RECOVERY
METALLURGY
Source: Right Resources ASX announcements dated 27 October 2026.
PILOT
Encouraging preliminary results using conventional processing methods
89.9%
Gold recovery at 24
hours
0.73g/t Au
Reconciled gravity
head grade
83.57%
Reconciled gravity
recovery
Whole-ore cyanide leaching recovery curve showing 89.9% gold recovery after
24 hours.
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2026 UPCOMING CATALYSTS
Blue leads near-term news flow, supported by Pilot and New England
BLUE – PRIORITY PILOT NEW ENGLAND
Timing remains subject to exploration, approvals and operational factors.
• Moonlight: Planned November
drilling of priority tungsten lodes,
subject to approvals.
• Aster & Luna: Pending assays to
guide follow-up drilling.
• Metallurgy & Targeting:
Advance tungsten testwork and
refine high-priority gold and
tungsten targets with CODES.
• Metallurgy: Further testwork to
investigate potential coarse-
gold distribution.
• Targeting: Refine the geological
model towards the untested
proximal Au-Bi-Te-W zone.
• Drilling: Define priority targets for
the next exploration program.
• Progress ~285-
sample surface
geochemistry
program
• Refine Rising Sun
and Midnight Star
targets
• Advance potential
initial drill targets
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WHY RIGHT RESOURCES, RIGHT NOW?
Large, underexplored gold–
tungsten opportunity with a
2,261 km² Tumbarumba
landholding
Blue has advanced from
surface exploration into
maiden drilling with assays
imminent
Multiple priority gold and
tungsten prospects create
several discovery
opportunities
Initial metallurgy provides
encouraging technical
evidence, subject to further
testing
Near-term assays and follow-
up programs offer clear
milestones for investors to
monitor
Ground Floor
41 – 47 Colin Street
West Perth WA 6005
RIGHT RESOURCES LTD
ABN 81 649 632 744
info@rightresources.com.au
www.rightresources.com.au
Unlocking an Emerging Tungsten-Gold Metallogenic District
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