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Marimaca Oxide Deposit

Chile’s Next Copper Mine

Tier 1 mining Jurisdiction
Outstanding location in the Antofagasta region, adjacent to world-class copper mines
Low
Risk
Low execution risk with proximity to first class infrastructure
DFS
complete
Conventional heap leach operation targeting 50kt per year copper cathode production
Development Momentum
Rapidly advancing to a construction decision, RCA received
Resource Growth
Potential
Continuous growth of oxide copper resources
Expansion Opportunity
Compelling near-mine and satellite resource expansion opportunity

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Marimaca Oxide Deposit

Project Overview

The Marimaca Oxide Deposit is the Company’s flagship project located in Antofagasta, Chile – one of the world’s premier mining jurisdictions. It is one of the few globally significant greenfield copper discoveries made in the last decade and represents a low-risk development opportunity, given the proximity to the city of Antofagasta and port of Mejillones, with substantial exploration upside.

The Project is rapidly moving forward with its sustainable development plan to produce high-quality copper cathode. Following our 2025 Definitive Feasibility Study, the Project is now rapidly advancing towards a final investment decision, with the intention of becoming Chile’s newest greenfield copper mine.

Within 25km of Port of Mejillones
Recycled seawater supply secured from Bay of Mejillones
Certified electricity supply available
Access to one of the largest sulfuric acid plants in Chile and a major sulfuric acid import hub
Within 40km of Antofagasta - major regional centre with airport
No community land overlap, skilled local workforce available
Marimaca Oxide Deposit

2025 Definitive Feasibility Study Highlights

Our 2025 Definitive Feasibility Study demonstrated the potential for the Marimaca Copper Deposit to be a low capital intensity, high margin mine, with compelling near-mine and satellite resource expansion opportunity.

US$ 0 bn

Post-Tax NPV 8

39% IRR with 2.2-year payback period At COMEX 3-month Avg. Cu price of US$5.05/lb Post-Tax NPV 8 of US$709m and 31% IRR at US$4.30/lb
US$ 0 /Ib
2nd Quartile AISC

C1 cash cost of US$1.69/lb

0 ktpa Cu
Steady State Production

First 10-years average 48ktpa of Grade A Cu Cathode production, including 1-year ramp-up period

0 years
Mine Life

P&P Reserve of 179Mt @ 0.42% CuT for
748kt Contained Cu

US$ 0 m
Pre-Production Capex

Initial capital intensity of US$11,700/t of Cu production capacity

0 :1
LOM Strip Ratio

First 4-years average strip ratio of 0.6
Includes pre-stripped material

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Marimaca Oxide Deposit

MOD Environmental Approval Received

In November 2025, Marimaca received the formal Resolución de Calificación Ambiental (“RCA”) for the Marimaca Oxide Deposit. The RCA represents the formal approval of the Company’s Declaración de Impacto Ambiental submission made in December 2024 and marked an important strategic step to being construction-ready.

1
Key Environmental Approval for the MOD Project

Marks the formal approval of the Company's DIA submission made in December 2024

Multiple community engagement sessions conducted in Mejillones

2
Rigorous preparation and engagement process

Multiple years of environmental baseline studies and voluntary stakeholder engagement sessions

Supported by various technical and engineering studies presented in the DIA submission

3
Significant de-risking milestone

Marks another strategic step closer to being construction-ready at the MOD

Marimaca is well advanced in its next phase of permitting activities, known as the Sectorial Permits (auxiliary permits required for various stages of construction and operation)

Geological and Exploration Overview

Geological Overview Exploration Potential

World-Class Geological Environment

The Marimaca Deposit is an IOCG-type deposit hosted in the Chilean Coastal Cordillera. The Coastal Cordillera is dominated by the occurrence of Cu-Ag “manto-type” and IOCG type deposits.

The dominant rock types at Marimaca are intrusives from the “Naguayán Plutonic Complex” defined by Cortes et al. (2007). In Marimaca, the country rock is an equigranular to porphyritic monzodiorite intruded by a Dyke Swarm System consisting of various bimodal dyke episodes ranging in composition from gabbro to rhyodacite oriented NS to NE, NW and WNW and dipping 45-50° to 60-75° towards east and south-east.

The main Naguayán structural fabric, consisting of a NS to NNE oriented sheeted-like fractures zone, including faults and dykes, controls the mineralization at Marimaca and can be observed for kilometers beyond the project area limits. Intense, extensive and pervasive events of supergene oxidation have produced the actual copper oxide blanket that forms the mineral deposit at Marimaca. The surface data show that the copper oxides are controlled by a very strongly fractured host rock, creating a high permeability background generated by the superposition of several events of fracturing and dikes intrusions. The oxidation resulted from the alteration of a previous secondary sulphide enriched blanket that produces zonation from brochantite-atacamite at cores immediately surrounding the secondary sulphides remnant patches and successive external haloes of predominant chrysocolla and further external wad.

As compared with other deposits of the belt, Marimaca is fully hosted by intrusive rock units that become extremely permeable thanks to intense fracturing.

Exploration Potential

Marimaca believes there is strong sulphide potential associated with the well-defined oxide deposit of the Project. Down-dip drilling, from the oxides, has indicated strong chalcopyrite-dominated mineralization which Marimaca intends to explore further in the future.

In addition to the sulphide potential, the deposit remains open to the north and south and at depth. Multiple near surface oxide exploration targets have been identified within close proximity to the Project, and there is also the potential to add near term tonnes to the current mine life.

On a district scale, the structural conduits at the Marimaca Copper Project are regionally extensive. The region is believed to be prospective for additional IOCG and mantos-style deposits. All targets are adjacent to key regional structures which are believed to control mineralization at the Marimaca Copper Project and the regional structure is identified over 25km.

The Company also has interests in the nearby Sierra Medina claims, which boast high grade, sediment-hosted copper sulphide and oxide intersections offering the Company materially wider exploration potential.

Corporate presentation

Read the latest Marimaca Copper corporate presentation to learn more about our strategy, copper assets and exploration opportunities.

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