Announcement PDF DEVELOPING & DISCOVERING CRITICAL MINERALS ASX BUX Company Overview October 31 2024 SET TO SUCCEED BUX 100% BUX EARNING 100% MISSION STATEMENT - Commercialise through development or part/full sale IGO / BUX JV - Be the preferred project generation partner to mid-tier & majors - Provide exposure to the ‘bang on discovery’ - Provide upward pressure on our valuation via multiple streams of news flow GROWTH STRATEGY -> H2 2025 - Graphite Bull - Mineral Resource Upgrade & Scoping / Pre-feasibility Study - Graphite Bull - Qualification testwork - Copper Wolf JV Activities - Permitting & Drilling at Matrix / Blackhawk (Narryer) - Drilling at Centurion (co-funded grant up-to $220k) See also BUX CEO’s Letter to Shareholders 25 Oct 2024 ASX:BUX 210.88M shares CAB: A$1.6M (Sep 30 24) 19.75M options Av 3M daily vol: 203k Mkt Cap: A$15.8M @ 7.5c 30/10/24 ASX:BUXO 19.37M listed options expiring 31/07/26 2 PROJECT PIPELINE Committed JV forward spend ~$3.5M JV spend 2018-2024 ~$32M BUX’s tenure interests > 8,250 km2 BUX Annual Tenement Commitments < $1M Centurion Cu/Au Lateron Cu/Au 100% BUX Madman Cu/Au Shogun (Ni)* Porphyry Cu/Mo exploration in elephant country Royale (Au/Cu)* Matrix Mn BUX earning 100% West Kimberly JV BUX 16-20% DRILL TARGET DEFINITION All $ in AUD 100% BUX & BUX 49% / IGO 51% * Shogun & Royale in application status ADVANCED EXPLORATION Blackhawk Graphite (+ magnetite, Nb / REE) Tier 1 natural graphite Tier 1 jurisdiction 100% BUX 100% BUX DISCOVERY DRILLING DEVELOPMENT 3 MID-WEST GRAPHITE POWERHOUSE  Excellent Access  Bulk export facility at Port of Geraldton  Year-round field activities  Abundant water and sunlight  Minimal competition for land use  Single Aboriginal Representative Body (BUX 100%) Narryer Niobium / REE Targets BLACKHAWK GRAPHITE Stonehut Magnetite Prospect (BUX 100%) 4 NATURAL GRAPHITE - STRONG DEMAND DRIVERS Jakarta Globe 7th August 2024 BTR Anode Plant GRAPHITE BULL 5 BUX 100% 6 (100% BUX) Not only Tier 1 location… also high grade & high quality 0.1 mm / 100 microns Exploration Drilling at GB003RC (ASX 02/03/2023) Bulk Concentrate Preparation (ASX 20/09/2023) SEM image of spheronised Graphite Bull concentrate (ASX 07/08/2023) 1) Substantial high-grade graphite intersects outside the current resource (4Mt @ 16.2@ TGC) 2) Simple floatation produces a high-grade concentrate (>95% TGC) with >90% recovery 3) GB concentrate works as Active Anode Material 7 (100% BUX) Stunning results from 2024 resource extension drilling Plan of 2024 Drilling (ASX 24/10/2024)  Substantive upside to existing resource  Mineral Resource Upgrade targeted for Dec 2024 Cross Section D (ASX 24/10/2024) (100% BUX) Location, Location, Location  Western Australia – consistently top 5 Fraser Institute ranking – developed, stable mining jurisdiction  28 km to major regional road, 500 km to Geraldton port GRAPHITE BULL (BUX 100%)  Heritage, Flora and Fauna surveys completed  Initial groundwater investigations indicate ample local supplies at <1,000 TDS  Excellent engagement with stakeholders (Native Title, Pastoral and Local / State / Federal Government)  Ideal project for US incentive programs such as ~US$400B Inflation Reduction Act &/or supply new anode plants worldwide, including BTR’s newly commissioned Kendal plant in Indonesia (320ktpa flake demand by 2026) BTR Anode Plant Bulk materials handling ports GRAPHITE BULL 9 (100% BUX) Current Focus… 1. Scoping / Pre-Feasibility Study • Metallurgical & environmental studies complete • Major drilling campaign just completed • Updated MRE expected Q4 2024 • Scoping / PF Study Q1 2025 2. Fastest Aussie Project to Market via Partnership • Qualification • Technology, Offtake & Investment 10 Blackhawk Graphite (+ Narryer Magnetite, Nb / REE) BUX 100% 11 (100% BUX) BLACKHAWK GRAPHITE New graphite discovery, entire prospective setting under 100% tenure, 100 km from Graphite Bull NY001RC (ASX 04/10/2024)  NY001RC: 60 metres @ 4.34% TGC from 192 m, including 20 metres @ 9.06% TGC from 231 m  Ground EM indicates graphite mineralisation extends close to surface  AEM defines 19.1 km prospective strike  Two high conductance Ground EM targets at Oculus AEM Image with Graphite Exploration Targets (ASX 04/10/2024) 12 CENTURION BUX 100% 13 BUX 100%) CENTURION Giant Cu / Au geophysical target  Coincident 1,500 nT magnetic & 10.1 mgal gravity anomaly over 3.5 x 5 km area  CRA’s 1991 hole failed to test the target, strongly pyritic & chlorite altered bouldersized clasts were logged in Permian conglomerate towards the base of this hole  1,000m drillhole planned, EIS co-funding through Dec 2025, up to A$220k rebate  Heritage approvals and PoW in place magnetics image + gravity contours Planned DD Hole gravity inversion CRA 1991 DD Hole magnetics inversion 14 Matrix Mn BUX earning 100% 15 BUX 100%) Matrix Mn REVOLUTIONARY GREEN MANGANESE Matrix Project Claims Map (ASX 14/05/2024)  Low-cost brownfields exploration project acquisition covering 12 km2  Adjacent to world’s 6th largest resource by metal - 277 Mt @ 2.8% Mn  These deposits are unique in being hosted by sandstone  USA relies 100% on Mn imports  Strong local demand predicted for battery-grade sulphate  Testwork indicates exceptional leaching characteristics.  ISR amenable manganese: potential for low CAPEX / OPEX battery grade Mn sulphate / EMM, Several ISR operations recently permitted in AZ Extraction % USBoM Column-leaching Mn-extraction curves for Arizona ore samples Sandtrap Wash Fault A: Artillery Peak (3.5% Mn, 2.5% Ca, 2.6% Fe) B & C: Tombstone D & E Harshaw Volume L Source: Pahlman & Khalafalla – 1988 - Leaching of Domestic Manganese Ores with Dissolved SO2. U.S. Bureau of Mines. Matrix Cross Section (ASX 01/02/2024) 16 100% BUX & BUX 49% / IGO 51% 17 (BUX100% + BUX/IGO JV) Extensive Foothold in a Giant Porphyry System  Land of Giants – SW US / Northern Mexico Porphyry Belt  Proven and huge porphyry Cu/Mo system  Cu resources defined historically  CPW0001DD: 83.76 metres at 0.40% Cu and 0.065% Mo for 0.77% CuEq* from 527.91 metres  CPW0002DD: 405.38 metres at 0.35% Cu and 0.045% Mo for 0.61% CuEq* from 608.38 metres  Geological Ingredients that can drive a high-grade system  Aim to consolidate the execution of this asset in partnership with IGO Copper Wolf Tenure Situation CPW0002DD at 619.70 m depth. The mafic schist on the left hosts a banded quartz-molybdenite vein which is cut by later veins of blebby sulphides. Disseminated sulphide is stronger in this mafic host compared with the chlorite altered felsic gneiss on the right of photo. Visually estimated sulphide abundances: 1.5% pyrite, 1.0% chalcopyrite and 0.15% molybdenite. HQ3 core is 63.5 mm width. (ASX 06/09/2023) * CuEq based on $3.50/lb Cu and $20/lb Mo (payability / recovery not considered). Copper Equivalent (%) = Cu (%) + (Mo (%) x 5.7) 18 Sign up to the BUX InvestorHub for alerts and in-depth coverage 19 Forward Looking Statements Competent Persons Statement This presentation has been prepared by Buxton Resources (“Buxton”). The information The information in this report that relates to Exploration Results is based on information compiled by contained in this presentation is a professional opinion only and is given in good faith. Certain Mr Martin Moloney, Member of the Australasian Institute of Geoscientists. Mr Moloney is a full-time information in this document has been derived from third parties and though Buxton has no employee of Buxton Resources Limited. Mr Moloney has sufficient experience which is relevant to reason to believe that it is not accurate, reliable or complete, it has not been independently the activity being undertaken to qualify as a “Competent Person”, as defined in the 2012 edition of audited or verified by Buxton. Any forward-looking statements included in this document the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, involve subjective judgement and analysis and are subject to uncertainties, risks and Mineral Resources and Ore Reserves. Mr Moloney consents to the inclusion in this report of the contingencies, many of which are outside the control of, and may be unknown to, Buxton. In matters based on the information in the form and context in which it appears. All exploration results particular they refer only to the date of this document, they assume the success of Buxton’s and strategies, and they are subject to significant regulatory, business, competitive and economic announcements under the 2012 JORC Code. This information has not materially changed since it risks and uncertainties. Actual future events may vary materially from those in the forward was initially reported. geological information has been previously reported in numerous Company ASX looking statements. Recipients of this document are cautioned not to place undue reliance on such forward-looking statements. Buxton makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Validity of Referenced Results Buxton confirms that it is not aware of any new information or data that materially affects the information from previous ASX announcements which has been referenced in this announcement. Buxton and its officers, employees, related corporations and agents disclaim all liability, whether direct, indirect or consequential for any loss or damage arising out of, or in connection with, any use or reliance on this presentation or information. All amounts are in A$ unless otherwise stated AUTHORISED BY REGISTERED OFFICE The CEO on behalf of the Board of 15 Robinson Avenue Directors of Buxton Resources. Belmont WA 6104 Phone +61 (0)8 9380 6063 Postal Address PO Box 661 Nedlands WA 6909 Email: info@buxtonresources.com.au Website: www.buxtonresources.com.au 20 SUPPLEMENTARY SLIDES 21 BUX 100%) Matrix Magnetics Map Matrix Mn PHASE 1 EXPLORATION PROGRAM  Drone Magnetics  Structural Mapping  Drilling  Success = - >100 %.m Mn - right Mn mineralogy - saturated - high permeability - low Ca / Fe 22 BUX 100%) ISR OPEX ADVANTAGE Matrix Mn Traditional Processing of HPSM Mining & Extraction Advanced Processing of HPSM Mining & Extraction Potential ISR Processing of HPSM In situ recovery (ISR) directly obtains metals from the subsurface without mining & extraction. Matrix Mn Injection Mn acid Extraction Purification & H2SO4 digestion Mn in solution Separation Crystallizer Uses vastly less water and electricity, offers the lowest mining costs, emissions intensity & environmental impact. 23 (BUX100% + BUX/IGO JV) Southern Arizona - One of the World’s Great Copper Districts Buenavista Contained Cu (Mt) 45 Ore (Bt) 19.8 Morenci Resolution 43 28 20.1 1.9 0.22 1.52 Safford El Arco Bagdad 24 18 17 7.2 4.7 6.1 0.34 0.37 0.28 Deposit Grade (% Cu) 0.22  Includes recently permitted deposits such as Cactus, Florence and Gunnison Copper Projects of the SW USA and Northern Mexico 24 (BUX100% + BUX/IGO JV) CPW0002DD – 2 elements of high-grade porphyry systems 1) Mafic host rocks Cut HQ3 ½ core from 622.2 m in CPW0002DD. Metapelitic rock cut by multi-stage (stockwork) quartz-sulphide and sulphide-only veining. Secondary biotite forms as selvedge to the veining but is so intense that it appears to completely flood the non-vein component of the sample. Visually estimated sulphide abundances: 6% pyrite, 2.5% chalcopyrite and 0.1% molybdenite. HQ core is 63.5 mm width. (ASX 06/09/2023). 2) Intense vein stockwork Whole HQ3 core from 710.00 m in CPW0002DD. Medium grained intrusive rock cut by multi-stage (stockwork) quartz-sulphide veins. This sample illustrates strong fine grained molybdenite mineralisation in banded quartz veins and distinct K-feldspar selvedges. Visually estimated sulphide abundances: 4% pyrite, 1.25% chalcopyrite, 0.5% molybdenite. HQ core is 63.5 mm width (ASX 06/09/2023). Cross section looking East displaying BUX holes, CPW0001DD and CPW0002DD relative to historical exploration hole RC-UC-17. (ASX 06/09/2023) 25 (BUX100% + BUX/IGO JV) Comparison to Filo del Sol Filo Del Sol 2019 At Filo del Sol project (Filo Corp – TSX:FIL) a widespread porphyry system had been drilled at shallow depths over 5km strike by 2019. Discovery of high-grade Aurora Zone in 2021 drove a >10x increase in FIL’s market cap from CAD$176M (31/12/19) to CAD$2.8Bn (19/01/24). The high grades at the Aurora Zone result from the combination of intense porphyry vein stockwork & overprinting epithermal system. In CPW0002DD, the highest Cu grades are found intense porphyry vein stockwork overprints mafic host rocks. Exploration at Copper Wolf can now target where these two elements coincide. Filo Del Sol 2023 * CuEq based on $3.50/lb Cu and $20/lb Mo (payability / recovery not considered). Copper Equivalent (%) = Cu (%) + (Mo (%) x 5.7) 26 (BUX100%) Wolverine – a fully permitted, walk-up drill target Highly encouraging indications of a porphyry Cu-Mo system on 100% BUX tenure at the Wolverine Prospect with no volcanic cover. Geologic mapping has revealed multiple surface exposures with: - Porphyritic dykes comparable to CPW0002DD - Coincident veining, k-feldspar & qtz-sericite-py alteration - Significant Cu & Mo anomalies - No historic drilling within the Wolverine Prospect area Iron-oxide-malachite contained in leached outcrop proximal to mapped porphyries. Chrysocolla staining inside iron-oxide fractures nearby to porphyritic dacitic dykes. Leached plagioclase-phyric porphyry cut by quartz-iron oxide veins 27 (BUX100%) Drill Targets Also Emerging on 100% Tenure In the Southwest Similar targets emerging at Sun Devil and Aztecs, 7 km from Wolverine, also on 100% BUX tenure Highly anomalous Cu, Mo and Ag confirmed at surface with lab assays up to 3.08% Cu, 156 ppm Mo and 9.34 ppm Ag No previous drilling at Sun Devil Outcrop dominated by quartz + iron oxide stockwork veining with k-feldspar alteration overprinted by sericite. (ASX 13/02/2024) Sun Devil prospect sample DC0107 - 30,800 ppm (3.08%) Cu & 58 ppm Mo. Highly weathered ?Proterozoic intrusive rock with stockwork veining and supergene chrysocolla overprint. (ASX 11/03/2024) 28 BUX 16% / IGO 64% / TT 20% 29 (BUX/IGO JV – BUX 16%) Extremely High Ni Tenor w/ Cobalt Credits Intercept (m) Assay Results From To Length Estimated True Width (m) 177.34 191.19 13.85 13.24 4.35 0.34 0.15 179.08 184.94 5.86 5.60 7.47 0.31 0.25 Ni (pct) Cu (pct) Co (pct) 23WKDD003 Assay Results (ASX 6/11/2023) 23WKDD003 at 179.1 m - massive sulphide mineralisation with visually logged Ni and Cu sulphides (ASX 4/10/2023) 6.57 m of massive (>80%) sulphides intersected in hole 23WKDD003 at the Dogleg Prospect from 179.1 m, within a 14.7 m zone of mineralisation from 176.45 m (ASX 4/10/2023) 30 (BUX/IGO JV – BUX 16%) High tenor Ni sulphides discovered 2023 by IGO Assay results returned from first diamond drillhole at the Dogleg Prospect: 13.85 m (True Width 13.24 m) at 4.35% Ni, 0.34% Cu, 0.15% Co from 177.34 m, Including: 5.86 m (True Width 5.60 m) at 7.47% Ni, 0.31% Cu, 0.25% Co from 179.08 m Merlin Prospect: BUX discovery defines new magmatic nickel province West Kimberley – good grades, but too small for standalone operation. Various IGO JVs, BUX free carried through to Final Investment Decision at Merlin, Feasibility elsewhere. Merlin could conceivably provide satellite ore to an operation at Dogleg. Dogleg Prospect Location Plan (ASX 6/11/2023) 31 (BUX/IGO JV – BUX 16%) 2023 DISCOVERY – EM + DRILLING MLEM targeting magnetic features in 2022 identifies a 280 x 75 m, 12,000 Siemen conductor First hole (23WKDD003) intersects sulphide mineralisation hosted in the Ruins Dolerite, within Marboo Formation quartz-muscovite bearing metasediments - same geological setting as Merlin A second hole (23WKDD004) drilled 65 m down-plunge of 23WKDD003, outside the area of the original MLEM conductor intersected 2.89 m (True Width 2.63 m) at 4.17% Ni, 0.83% Cu, 0.14% Co from 233.63 m (refer to BUX ASX announcement 01 February 2024). 100 m x 125 m 23WKDD003 and 23WKDD004 show strong in-hole DHEM responses (limited effectiveness to see away from the holes Combined interpretation of the DHEM data does suggest a potential extension of the MLEM conductor down-plunge Modelling of the combined DHEM surveys has produced a 15,000 Siemen conductor with dimensions of 100 m x 125 m Dogleg Cross Section (ASX 01/02/2024) Dogleg Long Section (ASX 01/02/2024) 32 WA GREENFIELDS PORTFOLIO BUX 100% 33 W. KIMBERLEY JV WA GREENFIELDS 100% BUX LATERON LATERON  Magmatic / hydrothermal Au-Cu CENTURION  Sulphide bearing quartz diorites, shallow cover SHOGUN  IP surveys planned for H2 2024 SHOGUN ROYALE  Nova style Ni (Cu, PGE, Co)  Shallow cover (<50m), No previous MLEM  HPA negotiation ongoing GRAPHITE BULL MADMAN ROYALE  Cu-Au/Mo porphyry model NARRYER  Belt scale, untested concept, shallow cover  HPA negotiation ongoing MADMAN  Havieron-style Au  Bullseye mag target  No previous ground exploration FRASER RANGE JV BUX WA Projects Map as of May 2024 34