Half Year Financial Report

SANTANA MINERALS LIMITED








HALF YEAR REPORT
December 2024

Content
DIRECTORS’ REPORT ............................................................................................................................................ - 2 -
LEAD AUDITOR’S INDEPENDENCE DECLARATION ................................................................................................- 14 -
CONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS .................................................................................- 15 -
CONSOLIDATED INTERIM STATEMENT OF OTHER COMPREHENSIVE INCOME .....................................................- 16 -
CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION .........................................................................- 17 -
CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY ..........................................................................- 18 -
CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS ......................................................................................- 19 -
CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ...............................................................- 20 -
DIRECTORS’ DECLARATION ..................................................................................................................................- 27 -
INDEPENDENT AUDITOR’S REVIEW REPORT ........................................................................................................- 28 -
CORPORATE DIRECTORY ......................................................................................................................................- 30 -

SANTANA MINERALS LIMITED


- 2 -
DIRECTORS’ REPORT
Directors’ Report
Your Directors present their report, including the Financial Report for the consolidated entity for the half-year
ended 31 December 2024.
Directors
The Directors of Santana Minerals Limited (“Santana” or “the Company”) at any time during or since the half-
year ended 31 December 2024 were as follows:
Mr Peter Cook, Non-Executive Chairman (appointed 23 October 2023)
Mr Frederick (Kim) Bunting, Non-Executive Director (appointed 3 November 2020)
Ms Emma Scotney (appointed 3 February 2025)
Mr Damian Spring, CEO and Executive Director (appointed director 1 January 2024)
Mr Sam Smith, Executive Director (appointed 1 January 2024)
Operating and Financial Review
Review of Operations
During the reporting period, the Company made substantial progress in advancing its 100%-owned Bendigo-
Ophir Gold Project (the ‘Project’) in New Zealand, strengthening its development pathway ahead of permitting
and construction in calendar year 2025.
A key milestone was the increase in JORC Indicated resources, which underpinned a Pre-Feasibility Study (PFS)
released in November. A subsequent resource upgrade, declared after the reporting period, has further
strengthened Project fundamentals ahead of an imminent PFS update. Extensive drilling and geological
modelling during the period focused on refining orebody geometries, optimising resource continuity, and
tightening deposit contours for more efficient mine planning and extraction.
The release of the PFS was a defining moment for the Company, confirming a long-life, highly profitable
operation expected to generate significant value for shareholders, as well as delivering economic benefits to
the New Zealand government and local communities.
The recognition of the Project as one of ‘national significance’, which led to its inclusion in Schedule 2 of New
Zealand’s Fast-track Approvals Act, presents a major opportunity to streamline permitting and advance towards
development. Looking ahead, the Company remains focused on securing regulatory approvals and progressing
towards a Final Investment Decision (FID) by mid-to-late 2025. Trade-off studies are underway to optimise mine
design and reduce development costs, while financing discussions progress in parallel to position the Project
for funding and execution in the coming months.
Highlights for the Half Year:
 The Company increased its Indicated gold resources by 152,000oz, bringing the total to 1.45Moz in July,
and then 1.54Moz subsequent to the end of the reporting period.
 A PFS was completed, confirming strong Project economics associated with an initial nine years of gold
production from an open pit and underground mine. At a spot gold price of A$4,000/oz, the Net Present
Value (NPV
8
) was estimated at A$1.06 billion post-tax with a 68% Internal Rate of Return (IRR), and a
payback period of less than one year from the start of production.
 Over 13,120m of drilling was conducted across the Project, targeting resource upgrades and expansion,
particularly at Rise and Shine (RAS), Srex (SRX), Srex East (SRE) and Come-in-Time (CIT).

- 3 - DIRECTORS’ REPORT
 The Company secured an exclusive option agreement for 92 hectares of land to support essential water
infrastructure and mine services.
 The Project was included on Schedule 2 of New Zealand’s Fast-track Approvals Act, potentially
expediting regulatory approvals and supporting FID by mid-to-late 2025.
Summary - Bendigo-Ophir Project Overview
During the period, the Company made significant progress in advancing its Project in Central Otago, New
Zealand. The Project area spans 292 square kilometres and is situated near the town of Cromwell,
approximately 90 kilometres northwest of OceanaGold's Macraes Gold Mine.

Figure 1: The Bendigo-Ophir Gold Project in the Otago Goldfields New Zealand
In July, the Company updated its Mineral Resource Estimate (MRE), declaring 1.45Moz of gold in the Indicated
resource category, an increase of 152,000oz from the previous estimate (upgraded to 1.54Moz, subsequent to
the end of the reporting period, see Table 2). This update was made in preparation for developing a robust mine
plan and releasing a PFS.
The release of the PFS in November marked a key milestone for the Company, highlighting strong Project
economics associated with mining the flagship RAS deposit from open pit and underground. The study
estimated an initial capital expenditure of A$340 million, with an average annual gold production of 125,000
ounces over a 9.2-year mine life. It projected a post-tax, net present value (NPV
8
) of A$1.06 billion at a gold
price of A$4,000/oz and an impressive internal rate of return (IRR) of 68%, with a payback period of less than
one year from the start of production.

SANTANA MINERALS LIMITED


- 4 -
DIRECTORS’ REPORT
Drilling activities continued across the tenement, with 13,120m drilled, including 5,065m of diamond core at
the RAS deposit, primarily targeting the upgrade of Inferred resources to the Indicated JORC category, while
also collecting geotechnical data to refine pit design parameters. The RAS deposit remains open down-plunge,
presenting further opportunities for resource expansion.
An additional 2,520m has been drilled as part of the RAS-is-Not-Alone (RINA) sterilisation program, which is still
in progress, aiming to sterilise areas for mine infrastructure or identify mineralisation worthy of follow up.
Drilling also continued at the Srex (SRX), Srex East (SRE), and Come-in-Time (CIT) satellite deposits, with a focus
on upgrading their JORC categorisation for potential inclusion in the mine plan as early mill feed, or as
complementary mill feed to the high grade ore at RAS.
At SRX and SRE, 430m of drilling was completed, comprising 350m of diamond drilling and 80m of Reverse
Circulation (RC) drilling. At CIT, 3,890m was completed, including 2,890m of diamond core and 1,000m of RC
drilling.

Figure 2: Main Project area featuring RAS, CIT, SRX and SRE
Pre-Feasibility Study
The completion of the PFS marked a key milestone in advancing the Project towards development. The study
confirmed the Project's potential as a long-life, low-cost gold operation, with an early focus on high-grade ore
recovery. PFS metrics were based solely on Indicated Resources under JORC guidelines, with a minor amount
of Inferred material mined incidentally. Notably, an additional 770,000oz of Inferred resources remains at RAS
and is yet to be incorporated into the mine plan, pending further infill drilling.
The study outlined a nine-year initial mine life, producing approximately 125,000oz of gold per year,
underpinned by a 1.18Moz Probable Mining Reserve.

- 5 - DIRECTORS’ REPORT
The mine plan begins with an open-pit operation at RAS, delivering up to 150,000oz annually in the first three
years, allowing for a payback period of less than a year from production and self-funding of sustaining capital.
Underground production is set to commence in Year 4, operating alongside the continuing open-pit mine.
Pre-production capital is estimated at A$340M, which includes a provision for a 1.5Mtpa CIL processing plant,
and costs associated with the pre-strip of overburden to access the orebody. The Company is actively exploring
cost reduction opportunities, particularly around the pre-strip activities. Trade-off studies are underway to
optimise the open-pit and underground interface, with a focus on enhancing efficiency and lowering initial
development costs. Ounces produced over the initial 9.2 year mining term in the PFS are reflected in the chart
below in Figure 3.

Figure 3. Production Profile OP/UG w/AISC estimates at A$4,000/oz.
Table 1 below outlines the key mining physicals estimated in the PFS that underpin the Project’s financial
returns.
Key Mining Physical Targets and Assumptions

Mine Life Years 9.17
Plant Throughput ktpa 1,835
Open Pit Ore Mined kt 14,404
Open Pit Mill Feed kt 14,404
Open Pit Mill Feed Grade Au g/t 2.19
Open Pit Contained Gold kOz 1,014
Open Pit Recovered Ounces kOz 935
Underground Ore Mined kt 2,413
Underground Mill Feed kt 2,413
Underground Mill Feed Grade Au g/t 2.99
Underground Contained Gold kOz 232
Underground Recovered Ounces kOz 215
Total Ore Mined kt 16,817
Total Mill Feed kt 16,817
Au Grade - Mined g/t 2.30
Total Contained Gold koz 1,245
Overall Plant Recovery % 92.38%
Gold Production kOz 1,151
Table 1. Key mining physicals
152
151
138
129
98
185
119
129
45
1,268
1,213
1,287
1,641
2,044
1,302
1,604
1,130
1,709
-
500
1,000
1,500
2,000
2,500
-
20
40
60
80
100
120
140
160
180
200
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
AISC $/oz
Production (kOz)
Open PitUndergroundAll-in-Sustaining Cost
Gold Production OP/UG (oz per annum) w/ AISC Yr1 to Yr9 (AUD)

SANTANA MINERALS LIMITED


- 6 -
DIRECTORS’ REPORT
Financial projections were estimated using a gold price of A$4,000/oz which resulted in an after-tax NPV8 of
A$1.06 billion and an internal rate of return (IRR) of 68%. The All-in-Sustaining-Cost (AISC) was estimated to be
A$1,416/oz, which resulted in A$1.8 billion of free cash flow generation over the first nine years of its
operational life. A base-case analysis was also presented using a gold price of A$2,894/oz which resulted in an
NPV8 of A$535M with an IRR of 42% and a payback of 1.67 years from the start of production.
Resource Definition Drilling
During the reporting period, the Company undertook extensive resource definition drilling programs across key
deposits to refine resource estimates and inform future development strategies. These drilling activities have
yielded substantial results, strengthening the geological understanding of the Project and guiding the next
stages of mine planning.
RAS High Grade Validation Program
A diamond drilling program was conducted at the RAS deposit to delineate the high-grade core and extend the
resource base. Initial results in July indicated consistently strong mineralisation, with further assays in August
confirming exceptional grades.
The most significant intercepts from this program were:
 MDD326: 41.6m @ 8.6g/t Au from 164.4m (true width 38.8m)
 MDD328: 41.8m @ 5.8g/t Au from 167.3m (true width 38.5m)
 MDD330: 39.5m @ 5.1g/t Au from 167.5m (true width 35.9m)
 MDD313: 30.7m @ 7.9g/t Au from 170.3m (true width 27.0m)
 MDD329: 34.5m @ 5.4g/t Au from 173.5m (true width 32.7m)
 MDD332: 35.4m @ 8.3g/t Au from 161.6m (true width 32.1m)
 MDD334: 26.6m @ 3.1g/t Au from 154.4m (true width 24.0m),and
24.0m @ 3.2g/t Au from 186.0m (true width 21.7m)
These results, shown in Figure 4 and Figure 5, underscore the continuity and strength of the high-grade core at
RAS, with implications for profitable extraction and future resource expansion.

- 7 - DIRECTORS’ REPORT

Figure 4 – Plan view of RAS showing assay results from the seven holes drilled during the resource validation campaign

Figure 5 – Long section at RAS capturing all seven resource validation holes, showing consistent results within the Type 1 Quartz Vein
halo (red line)

SANTANA MINERALS LIMITED


- 8 -
DIRECTORS’ REPORT
RAS-is-Not-Alone RINA Program
Seven RINA diamond drill holes were completed, testing undercover targets beneath the TZ3 schist rock in areas
designated for future mine infrastructure (see Figure 6). The most significant intercept was:
 MDD368: 45.1m @ 0.28g/t Au from 431.9m below surface.
A follow-up drilling program is scheduled upon the conclusion of the first phase of the RINA campaign.
Regional RC drilling campaigns were also conducted, targeting potential sterilisation zones around Shepherd’s
Creek for the proposed mill site, as well as testing the Thomsons Gorge Fault contact in Rise and Shine Valley
and Ardgour Flats.

Figure 6 – Plan view of the Project area showing RINA hole program including MDD368
Srex (SRX) and Srex East (SRE) Deposits
Drilling at SRX and SRE focused on upgrading resources from Inferred to Indicated status, ensuring their
inclusion in the PFS. Near-surface mineralisation was confirmed, with a low strip ratio providing potential
economic advantages as a complementary ore source to RAS.
Notable intercepts included:
 MRC181: 11.0m @ 2.2g/t Au from 35.0m (true width 5.6m).
 MRC198: 7.0m @ 4.9g/t Au from 12.0m (true width 5.6m), and
8.0m @ 1.6g/t Au from 21.0m (true width 6.4m).
 MRC199: 10.0m @ 1.5g/t Au from 51.0m (true width 9.6m).
 MRC218: 11.0m @ 1.3g/t Au from 3.0m (true width 9.8m).

- 9 - DIRECTORS’ REPORT
 MDD324: 6.0m @ 3.4g/t Au from 51.0m (true width 5.8m)
These results enhance the Project’s resource base and offer greater flexibility in mine planning. It is likely that
SRX and SRE will be drilled with a close-spacing drill pattern in the ensuing period, relevant for evaluating its
continuity for mining, subject to gaining access to new drill tracks.
Come-in-Time (CIT) Deposit
Drilling at CIT aimed to assess the potential for high-grade shoots within the deposit. Assay results from hole
MDD371 highlighted the emergence of a high-grade core within the broader low grade mineralised system.
A total of 24 diamond drill holes were drilled during the reporting period, including two redrills. The best
recorded intercept was MDD371, with the following result:
 MDD371: 11.0m @ 9.5g/t Au from 33.0m (true width 7.0m), and
6.0m at 1.6g/t Au from 50.0m (true width 3.9m)
3.2m @ 10.9g/t Au from 65.8m (true width 2.1m)
CIT is currently undergoing a mineral resource update to integrate the findings of the recent drilling campaign.
Further analysis is in progress to evaluate the emergence of the high-grade core, which could significantly
impact future resource development.
The resource definition and exploration initiatives undertaken during the period have significantly refined the
geological framework of the Project. The integration of data from RAS, SRX, SRE, CIT, and the RINA program
provides a strong foundation for future growth and exploration. The Company remains focused on optimising
resource potential and advancing strategic mine planning to maximise Project value.
Land and Water Security
During the period, the Company entered into a binding and exclusive option agreement to acquire
approximately 92 hectares of strategic land within the Project area. This agreement grants the company the
rights to install essential water extraction and distribution infrastructure, including bores, pumps, and pipelines,
on the designated land. Securing these land and water rights is a critical step in ensuring the Project's
operational readiness and aligns with the Company’s commitment to advancing the Project toward
construction.
Fast-track Approvals Submission
During the reporting period, and in parallel to the works program, the Project was officially included in New
Zealand's Fast-track Approvals Act, a new law ratified on 23 December 2024 which aims to expedite the
development of nationally significant projects such as Bendigo-Ophir. Submissions into the Fast-track process
are open from February 2025, with Santana aiming to submit an application shortly thereafter.
The inclusion of the Bendigo-Ophir Project in the Fast-track Approvals Act is expected to facilitate timely
regulatory approval, bringing the Project closer to anticipated FID in mid-to-late 2025.
Key Conclusions and 2025 Forward Program
As the Company moves closer to FID, detailed engineering work continues to refine the Project's scale and
economic efficiency. Efforts are focused on optimising mine design, with particular attention on reducing pre-
strip requirements, lowering the strip ratio in the open pit, and minimising upfront capital costs. Key focus areas
in the coming months include:
 Progressing Fast-track Approvals to allow FID during calendar year 2025.

SANTANA MINERALS LIMITED


- 10 -
DIRECTORS’ REPORT
 Optimising early-stage pit designs to minimise pre-strip volumes.
 Updating PFS economics based on a refined mine plan.
 Finalising Project financing to allow execution at FID.
 Strengthening relationships with our stakeholders.
 Ongoing resource definition drilling at RAS, SRX/SRE and CIT for increased confidence and resource
growth.
The mine permitting process remains well advanced, with preparations underway to submit the Fast-track
application at the earliest opportunity. In parallel, formal engagement with contractors and suppliers has
commenced, with processes initiated to secure Project partners.
In terms of Project funding, discussions with potential debt financiers are progressing, as the Company works
toward compiling a comprehensive, bankable dataset to support future funding arrangements.
To ensure a smooth transition into Project execution, key leadership recruitment has been a priority.
Appointments for critical roles are well advanced, reinforcing the Company’s confidence in securing approval
under the Fast-track consenting regime.
With strong momentum across engineering, permitting, financing, and operational planning, the Company is
well-positioned to deliver on its growth strategy and advance the Bendigo-Ophir Project towards development
in the coming months.
Other exploration assets
Cambodia - Emerald Resources NL earning up to 70% as sole contributor
Santana Minerals maintains a Joint Venture Agreement with Emerald Resources NL, allowing Emerald to earn
up to a 70% interest in the Snuol and Phnom Ktung Projects, collectively known as the Mekong Projects, which
encompass two exploration licenses covering 411 square kilometres. Southern Gold Ltd retains a 15% free-
carried interest in these projects until the completion of a Definitive Feasibility Study (DFS) and holds a 2% gross
royalty capped at US$11 million, transitioning to a 1% gross royalty thereafter.
Snoul Project
The Snuol Project provides Emerald with 206km² of highly prospective tenure with historical drilling
demonstrating significant gold discovery potential. The Snoul Project is located approximately 70km south-west
of the Okvau Gold Mine and approximately 20km north-east of Emerald’s proposed Memot Gold Project.
During the period, 1,468 shallow soil samples in 400m x 200m spacings were collected in the western half of
the Snuol Exploration License. A further 1,466 shallow soil assay results are pending.
It is expected that the Snuol Project will contribute additional, open cut ore feed to the proposed Memot Gold
Project processing plant in coming years.

- 11 - DIRECTORS’ REPORT

Figure 7 - Snuol location proximal to Memot
Subsequent to the Reporting Period
MRE Update
Following the end of the reporting period, the Company updated its MRE to incorporate results from recent
infill drilling programs, refining the RAS geological model in preparation for mining. The new Indicated resource
at RAS has a 7% increase in grade (from 2.35g/t to 2.52 g/t) and a 6.4% increase in contained gold ounces (from
1.45Moz to 1.54Moz).
The updated March 2025 MRE table is shown below in Table 2.
Deposit Category tonnes (Mt) Au grade (g/t) Contained Gold (koz)
RAS
Indicated 18.9 2.5 1,538
Inferred 7.6 2.2 542
RAS Total Indicated and Inferred 26.5 2.4 2,080
CIT Inferred 1.2 1.5 59
SRX Indicated 2.2 0.8 54.7
SRX Inferred 2.9 1.0 90.5
SRX Total Indicated and Inferred 5 0.9 145
SRE Indicated 0.4 0.8 10.3
SRE Inferred 1.1 1.2 42
SRE Total Indicated and Inferred 1.5 1.1 52
BOGP Total
Indicated 21.5 2.3 1,603
Inferred 12.8 1.8 734
BOGP Total Indicated and Inferred 34.3 2.1 2,337
Table 2. Bendigo-Ophir Project, March 2025 MRE

SANTANA MINERALS LIMITED


- 12 -
DIRECTORS’ REPORT
Board Appointment
Subsequent to the end of the reporting period, the Board of Directors appointed Emma Scotney as a Non-
Executive Director. Ms Scotney has a background in corporate law and is an experienced non-executive director
with more than 25 years of experience in mining, agriculture and property industries. The addition of Ms
Scotney’s skill set to the Board is timely as the Company advances the project into construction in the coming
months.
Financial Review
At the end of the reporting period the consolidated entity had $31,446,314 (30 June 2024: $33,068,475) in cash
and at call deposits. Capitalised mineral exploration and evaluation expenditure carried forward was
$43,711,756 (30 June 2024: $35,446,495).
The consolidated entity had net assets of $74,373,505 (30 June 2024: $67,849,587).
On 24 November 2024 the consolidated entity received shareholder approval for a subdivision of fully paid
ordinary shares on a 3 for 1 basis.
Lead Auditor’s Independence Declaration
The lead auditor’s independence declaration is set out on page 14 and forms part of the Directors’ report for
the half-year ended 31 December 2024.
Signed in accordance with a resolution of the Board of Directors:

___________________________
Damian Spring
Executive Director
Dated this 12
th
day of March 2025

- 13 - DIRECTORS’ REPORT




Previous Disclosure - 2012 JORC Code
Information relating to Mineral Resources, Exploration Targets and Exploration Data associated with the Company’s projects in this
report is extracted from the following ASX Announcements:

 ASX announcement titled “Shiny Outcomes from Latest Metallurgical Test Work at RAS” dated 02 April 2024
 ASX announcement titled “Outstanding Economics - RAS Scoping Study (First 10 Years)” dated 17 April 2024
 ASX announcement titled “Infill drilling increases RAS Indicated category to 1.45Moz” dated 2 July 2024
 ASX announcement titled “More thick high grade intercepts from RAS” dated 15 July 2024
 ASX announcement titled “Completion of Unmarketable Parcel Buyback” dated 1 July 2024
 ASX announcement titled “More thick high grade intercepts from RAS” dated 15 July 2024
 ASX announcement titled “Approval to list on New Zealand Stock Exchange” dated 18 July 2024
 ASX announcement titled “RAS Shines, SHR Complements” dated 30 July 2024
 ASX announcement titled “Another Booming Gold Hit from RAS” dated 19 August 2024
 ASX announcement titled “Proposed Split of Securities” dated 30 August 2024
 ASX announcement titled “Resource drilling enhances mill-feed for ensuing PFS” dated 05 September 2024
 ASX announcement titled “Water supply and strategic land secured for mine development” dated 04 October 2024
 ASX announcement titled “Fast Track Approval Received” dated 07 October 2024
 ASX announcement titled “Bendigo-Ophir Gold Project - Pre-Feasibility Study (PFS) outcomes” dated 15 November 2024
 ASX announcement titled “RAS is Not Alone (RINA Program) - Drilling update” dated 02 December 2024
 ASX announcement titled “Come in Time (CIT) delivers high-grade core” dated 10 December 2024
 ASX announcement titled “RAS Perimeter Drilling Can Enhance Mine Plan” dated 4 February 2024
 ASX announcement titled “RAS Mineral Resource Estimate Review” dated 4 March 2025.

A copy of such announcements is available to view on the Santana Minerals Limited website www.santanaminerals.com. The reports
were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves. The Company confirms that it is not aware of any new information or data that materially affects the information
included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s
findings are presented have not been materially modified from the original market announcements.

SANTANA MINERALS LIMITED


- 14 -
LEAD AUDITOR’S INDEPENDENCE DECLARATION

Lead Auditor’s Independence Declaration under
Section 307C of the Corporations Act 2001

To the Directors of Santana Minerals Limited

I declare that, to the best of my knowledge and belief, in relation to the review of Santana Minerals
Limited for the half-year ended 31 December 2024 there have been:
i.

no contraventions of the auditor independence requirements as set out in the
Corporations Act 2001 in relation to the review; and
ii.

no contraventions of any applicable code of professional conduct in relation to the review.





KPMG Simon Crane
Partner
Brisbane
12 March 2025








KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG
International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used
under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under
Professional Standards Legislation.

- 15 - SANTANA MINERALS AND ITS CONTROLLED ENTITIES │ ABN 37 161 946 989
Consolidated Interim Statement of Profit or Loss
for the Half Year Ended 31 December 2024




Note
31 December 2024

31 December 2023
$

$
Profit on sale of assets

37,080

-
General and administrative expenses
(2,221,636)

(770,333)
Exploration and evaluation expenses
(93,503)

(269,456)
Results from operating activities

(2,278,059)

(1,039,789)




Financing income 6
635,559

197,634
Financing expenses 6
(1,356)

(53,777)
Net financing income

634,203

143,857




Share of loss of equity-accounted investees,
net of tax
8
(43,083)

(49,857)




Loss before income tax

(1,686,939)

(945,789)
Income tax benefit

-

-
Loss for the period – attributable to
Shareholders of the Company

(1,686,939)

(945,789)




Earnings per share




Basic loss per share
(0.27) cents (0.17) cents
1

Diluted loss per share
(0.27) cents (0.17) cents
1















The consolidated interim statement of profit or loss is to be read in conjunction with the condensed notes to the
consolidated interim financial statements.

1
On 24 November 2024 the consolidated entity received shareholder approval for a subdivision of fully paid ordinary
shares on a 3 for 1 basis. As a result, both basic and diluted earnings per share (EPS) have been restated retrospectively
for comparative periods. Refer to Note 10.

SANTANA MINERALS LIMITED


- 16 -

SANTANA MINERALS AND ITS CONTROLLED ENTITIES
│ ABN 37 161 946 989


Consolidated Interim Statement of Other Comprehensive Income
for the Half Year Ended 31 December 2024






31 December 2024

31 December 2023

$

$
Loss for the period

(1,686,939)

(945,789)





243,863
Other comprehensive income


Items that may subsequently be reclassified to profit or loss:


Foreign exchange translation differences
(302,867)

Other comprehensive income for the period, net of
income tax

(302,867)

243,863




(701,926)
Total comprehensive (loss)/income for the period –
attributable to Shareholders of the Company
(1,989,806)





















The consolidated interim statement of other comprehensive income is to be read in conjunction with the condensed
notes to the consolidated interim financial statements.

- 17 - SANTANA MINERALS AND ITS CONTROLLED ENTITIES │ ABN 37 161 946 989
Consolidated Interim Statement of Financial Position
as at 31 December 2024






Note
31 December 2024 30 June 2024
$ $
Current assets



Cash and cash equivalents

31,446,314
33,068,475
Trade and other receivables 7
680,643
754,335
Prepayments

51,649 75,650
Total current assets

32,178,606 33,898,460


Non-current assets


Property, plant and equipment

373,109 257,397
Equity-accounted investees 8
37,949 81,032
Right of use asset
306,728 52,594
Exploration and evaluation expenditure 5, 9
43,711,756 35,446,495
Total non-current assets

44,429,542 35,837,518


Total assets

76,608,148 69,735,978


Current liabilities


Trade and other payables

1,957,570 1,833,538
Lease Liability
166,928 32,224
Total current liabilities

2,124,498 1,865,762


Non-current liabilities

Lease Liability
110,145 20,629
Total non-current liabilities
110,145 20,629


Total liabilities

2,234,643 1,886,391



Net assets

74,373,505
67,849,587


Equity



Share capital 10
117,206,404

109,193,111
Reserves

(43,959)
258,908
Accumulated losses

(42,788,940)
(41,602,432)
Total equity

74,373,505 67,849,587




The consolidated interim statement of financial position is to be read in conjunction with the condensed notes to the
consolidated interim financial statements.

SANTANA MINERALS LIMITED


- 18 -

SANTANA MINERALS AND ITS CONTROLLED ENTITIES
│ ABN 37 161 946 989


Consolidated Interim Statement of Changes in Equity
for the Half Year Ended 31 December 2024




Note
Issued
capital
Foreign
currency
translation
reserve
Accumulated
losses
Total
equity


$ $ $ $
Opening balance as at 1 July 2024
109,193,111 258,908 (41,602,432) 67,849,587
Loss for the period

- - (1,686,939) (1,686,939)
Foreign currency translation differences

- (302,867) - (302,867)
Total comprehensive income for the period

- (302,867) (1,686,939) (1,989,806)
Transactions with owners recorded
directly in equity


Share-based payments (net of tax)

- - 410,308 410,308
Performance Right Issue

- - 90,123 90,123
Shares issued
10 8,013,293
- -
8,013,293
Transaction costs
10 -
- -
-
Total transactions with owners
8,013,293 - 500,431 8,513,724
Balance at 31 December 2024
117,206,404 (43,959) (42,788,940) 74,373,505






Note
Issued
capital
Foreign
currency
translation
reserve
Accumulated
losses
Total
Equity


$ $ $ $
Opening balance as at 1 July 2023

77,995,032 687,672 (39,683,347) 38,999,357
Loss for the period

- - (945,789) (945,789)
Foreign currency translation differences

- 243,863 - 243,863
Total comprehensive income for the period

- 243,863 (945,789) (701,926)
Transactions with owners recorded directly
in equity


Share-based payments (net of tax) 10 - - 127,109 127,109
Shares issued 10 285,078 - - 285,078
Total transactions with owners
10 285,078 - 127,109 412,187
Balance at 31 December 2023
10 78,280,110 931,535 (40,502,027) 38,709,618





The consolidated interim statement of changes in equity is to be read in conjunction with the condensed notes to the
consolidated interim financial statements.

- 19 - SANTANA MINERALS AND ITS CONTROLLED ENTITIES │ ABN 37 161 946 989
Consolidated Interim Statement of Cash flows
for the Half Year Ended 31 December 2024



31 December 2024

31 December 2023

$

$
Cash flows from operating activities




Cash paid to suppliers and employees

(1,895,729) (536,071)
Cash paid for exploration and evaluation
expenditure expensed

(93,503) (269,456)
Interest received

365,957 197,634
Net cash used in operating activities

(1,623,275) (607,893)




Cash flows from investing activities




Payments for exploration and evaluation
expenditure capitalised

(7,872,661) (6,244,587)
Acquisition of property, plant and equipment
(145,308) (34,857)
Sales of property, plant and equipment
37,080 -
Net cash used in investing activities

(7,980,889) (6,279,444)




Cash flows from financing activities



Proceeds from issue of shares
8,013,293 285,078
Lease payments
(28,195) -
Net cash provided by financing activities
7,985,098 285,078




Net (decrease)/increase in cash and cash
equivalents held

(1,619,066) (6,602,259)
Effects of exchange rate fluctuations on cash
held

(3,095) 2,210
Cash and cash equivalents at 1 July

33,068,475 17,214,569
Cash and cash equivalents at 31 December

31,446,314 10,614,520










The consolidated interim statement of cash flows is to be read in conjunction with the condensed notes to the
consolidated interim financial statements.

SANTANA MINERALS LIMITED


- 20 -

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Condensed Notes to the Consolidated Financial Statements
for the Period Ended 31 December 2024
1. REPORTING ENTITY
Santana Minerals Limited (the “Company”) is a company domiciled in Australia. The consolidated interim financial
report of the Company as at and for the six months ended 31 December 2024 comprises the Company and its
subsidiaries (together referred to as the “consolidated entity”).
The consolidated annual financial report of the consolidated entity as at and for the year ended 30 June 2024 is
available upon request from the Company’s registered office at Level 1, 371 Queen Street, Brisbane, Queensland
Australia or on the Company’s website at www.santanaminerals.com
2. BASIS OF ACCOUNTING
The consolidated interim financial report has been prepared in accordance with AASB 134 Interim Financial
Reporting and the Corporations Act 2001, and with IAS 34 Interim Financial Reporting.
The accounting policies applied by the consolidated entity in this consolidated interim financial report are the
same as those applied by the consolidated entity in its consolidated financial report as at and for the year ended
30 June 2024.
The consolidated interim financial report does not include all of the information required for a full annual financial
report, and should be read in conjunction with the consolidated annual financial report of the consolidated entity
as at and for the year ended 30 June 2024 and any public announcements made by Santana Minerals Limited
during the interim reporting period in accordance with the continuous disclosure requirements of the
Corporations Act 2001.
Selected explanatory notes are included to explain events and transactions that are significant to an
understanding of the changes in financial position of the Group since the last consolidated financial report as at
and for the year ended 30 June 2024.
The condensed consolidated interim financial report was authorised for issue by the directors on 12 March 2025.
3. BASIS OF MEASUREMENT
The consolidated interim financial report is presented in Australian dollars, which is the Company’s functional
currency. The consolidated interim financial report is prepared on the historical cost basis.
The preparation of the consolidated interim financial report requires management to make judgements,
estimates and assumptions that affect the application of accounting policies and the reported amounts of assets
and liabilities, income and expense. Actual results may differ from these estimates.

In preparing this consolidated interim financial report, the significant judgements made by management in
applying the consolidated entity’s accounting policies and the key sources of estimation uncertainty were the
same as those applied to the consolidated financial report as at and for the year ended 30 June 2024.

- 21 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
4. GOING CONCERN
.
The consolidated interim financial statements have been prepared on the basis of accounting principles applicable
to a “going concern” which assumes the consolidated entity will continue in operation for the foreseeable future
and will be able to realise its assets and discharge its liabilities in the normal course of operations.

The consolidated entity has the ability to seek to raise funds from the public and intends to raise such funds as
and when required to complete its projects.

The consolidated entity currently has no source of operating cash inflows, other than interest income, and has
incurred net cash outflows from operating and investing activities for the period ended 31 December 2024 of
$9,604,164. At 31 December 2024, the consolidated entity had cash balances of $31,446,314 (30 June 2024:
$33,068,475) and net working capital (current assets less current liabilities) of $30,054,108 (30 June 2024:
$32,032,698).

Subsequent to the reporting period the consolidated entity had raised an additional $27,795,891 through the
issue of fully paid ordinary shares upon exercise of options at $0.036 per share.

The Consolidated Entity has the ability to seek to raise additional funds from shareholders or other investors and
intends to raise such funds as and when required to complete its projects.

The Directors have prepared cash flow projections that support the ability of the Consolidated Entity to continue
as a going concern. These cash flow projections indicate the Consolidated Entity has sufficient cash resources to
meet its objectives. In the longer term, the development of economically recoverable mineral deposits found on
the Consolidated Entity’s existing or future exploration properties depends on the ability of the Consolidated
Entity to obtain financing through equity financing, debt financing or other means. If the Consolidated Entity’s
exploration programs are ultimately successful, additional funds will be required to develop the Consolidated
Entity’s properties and to place them into commercial production. The ability of the Consolidated Entity to arrange
such funding in the future will depend in part upon the prevailing capital market conditions as well as the business
performance of the Consolidated Entity.

SANTANA MINERALS LIMITED


- 22 -

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

5. SEGMENT INFORMATION
Each area of interest represents an operating segment, however for reporting purposes areas of interest are
aggregated where they are located in the same region and relate to the exploration of similar commodities. The
Consolidated Entity’s current areas of interest relate to the exploration of precious metals in New Zealand and
it has withdrawn from its project interest in Mexico. In reviewing segment results the Chief Executive Officer
and Board consider total expenditure on exploration and evaluation activities (expensed and capitalised) and
results of such activities.

31 December 2024

31 December 2023
$

$
Cuitaboca Project - Mexico

Exploration and evaluation expenditure expensed in profit or
loss
93,503

269,456
Exploration and evaluation expenditure capitalised
-

-

93,503

269,456
Bendigo-Ophir Project - New Zealand

Exploration and evaluation expenditure expensed in profit or
loss - -
Exploration and evaluation expenditure capitalised
8,412,255

6,320,907

8,412,255

6,320,907


Total exploration and evaluation expenditure
8,505,758 6,590,363

31 December 2024

30 June 2024
$

$
Exploration and evaluation assets


Cuitaboca Project - Mexico
- -
Bendigo-Ophir Project – New Zealand
43,711,756
35,446,495

43,711,756
35,446,495
6. NET FINANCING INCOME/ (EXPENSE)

31 December 2024

31 December 2023

$ $
Interest income 635,559 197,634
Financing Income 635,559 197,634

Foreign exchange loss 492 (53,777)
Interest Expense (1,848) -
Financing expense (1,356) (53,777)
Net financing income 634,203 143,857

7. TRADE AND OTHER RECEIVABLES

31 December 2024
$
30 June 2024
$
Current


Accrued interest revenue 269,602

-
Other receivables
7,713 32,496
GST Receivable
403,328 721,839

680,643 754,335

- 23 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
8. EQUITY-ACCOUNTED INVESTEES

31 December 2024
$
30 June 2024
$



Interests in associate – Southern Gold (Asia) Pty Ltd
37,949 81,032




Southern Gold (Asia) Pty Ltd (“SGA”, an associate) holds the interests in the Cambodian gold projects. SGA is a
party to an unincorporated joint venture agreement with Southern Gold Limited (SGL) in respect to Cambodian
Exploration Licences (CELs). Pursuant to the agreement, SGL has a 15% unincorporated joint venture interest in
the CELs, which is free carried until completion of a feasibility study.

SGA has also entered into a farm-out and incorporated joint venture agreement with Renaissance Cambodia Pty
Ltd (Renaissance) (the “Farm-Out Agreement”). Under the Farm Out Agreement Renaissance will manage SGA
and sole fund US$0.5million of exploration expenditure on each of the CELs in order to earn a 30% shareholding
in SGA. After earning the 30% shareholding, Renaissance can elect to sole fund a further US$1.0million of
exploration expenditure on each of the CELs over the following two years and increase its shareholding in SGA
to 60%.

When Renaissance has earned a 60% shareholding in SGA, the consolidated entity may elect to either contribute
to further exploration activities on the CELs and maintain its 40% shareholding in SGA, or alternatively elect not
to contribute, in which case Renaissance may earn a further 25% shareholding in SGA by continuing to manage
SGA and funding completion of a definitive feasibility study. During the definitive feasibility study period the
consolidated entity interests would be free carried.

Renaissance has met the expenditure requirements to earn a 60% interest in the Subsidiary. The consolidated
entity has elected not to contribute and is free carried to a definitive feasibility study.


31 December 2024
$
30 June 2024
$



Percentage ownership interest 40%

40%



Non-current assets
372,324
280,566
Current assets
461,940
419,365
Current liabilities
(3,150)
(14,544)
Net assets (100%)
831,114
685,387
Consolidated entity’s share of net assets
40%
40%
Carrying amount of interest in associate
37,949
81,032



6 months to 31
December 2024
12 months to 30
June 2024
Revenue
-
-
Loss from continuing operations (100%)
(107,707)
(91,034)
Total comprehensive income/(loss) (100%)
(107,707)
(91,034)
Consolidated entity’s share of total comprehensive
income/(loss) (43,083) (36,414)

In accordance with the Farm-Out Agreement, Renaissance has met the expenditure requirements to earn 60%
interest in SGA through sole funding of exploration which is being recognised in equity of SGA. Santana Minerals
Limited does not currently recognise any share of this increase in equity of SGA.

SANTANA MINERALS LIMITED


- 24 -

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

9. EXPLORATION AND EVALUATION EXPENDITURE

6 months
31 December 2024
12 months
30 June 2024
$ $
Capitalised exploration and evaluation expenditure


Exploration and evaluation phase – at cost
Bendigo-Ophir - New Zealand
43,711,756 35,446,495
43,711,756 35,446,495
Reconciliations
Bendigo-Ophir - New Zealand
Opening balance at beginning of period 35,446,495 21,671,389
Expenditure for the period 8,412,255 13,961,771
Effect of foreign exchange movement (146,994) (186,665)
Closing balance at end of period 43,711,756 35,446,495

Bendigo-Ophir Project, New Zealand
On 3 November 2020, the consolidated entity announced that it had completed a share purchase agreement
for the acquisition of the Bendigo Ophir Project by acquiring 100% of the shares in Matakanui Gold Limited
(‘MGL’), which holds 100% of the Bendigo-Ophir Project.

The Project is subject to a 1.5% Net Smelter Royalty (NSR) on all production from MEP 60311 (and successor
permits) payable to an incorporated, private company Rise and Shine Holdings Limited.

Access arrangements are in place with landowners that provide for current exploration and other activities, and
any future decision to mine. As such, compensation is payable, including payments of up to $1.5M on a decision
to mine, plus total royalties starting at 1% on the net value of gold produced, increasing to 1.5% and ultimately
2% dependent on location and total gold produced over the life of the mine. The royalties are also subject to
pre-payment of up to $3M upon commencement of mining operations.

Also, as gold is a Crown mineral, a royalty is payable to the Crown as either the higher of an ad valorem royalty
of 2% of the net sales revenue or an accounting profits royalty of 10%.
10. SHARE CAPITAL
The Company recorded the following amounts within shareholders’ equity as a result of having issued ordinary
shares, options and performance rights over ordinary shares.
31 December 2024
Number of Issue price Share capital
ordinary shares $ $
Balance at 1 July 2024 206,468,935 109,193,111
Share issue August 2024 (Option Ex.) 995,983 1.08 1,075,661
Share issue September 2024 (Option Ex.) 1,140,310 0.30 342,093
Share issue September 2024 (Option Ex.) 1,596,457 1.08 1,724,174
Share issue October 2024 (Option Ex.) 2,152,509 1.08 2,324,709
Share Split (3 for 1) 424,708,388 -
Share issue November 2024 (Option Ex.) 2,859,342 0.36 1,029,363
Share issue December 2024 (Option Ex.) 4,136,512 0.36 1,489,145
Share issue December 2024 (Option Ex.) 90,072 0.3125 28,148
Balance at 31 December 2024 644,148,508 117,206,404

- 25 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Number of options

Number of options
Options on Issue 31 December 2024

30 June 2024
Options issued as part of the Matakanui Transaction – Nov
2020
-

1,140,310
Employee share options – Jan 2023 1,500,000

500,000
Employee share options – Oct 2023 4,500,000

1,500,000
Employee share options – Dec 2023 5,299,107

1,796,393
Shareholder Bonus Options 82,514,402

34,581,701
Total options over ordinary shares currently issued 93,813,509

39,518,404
30 June 2024 option numbers are presented on a pre 3:1 share split basis which occurred during the half year
period
Reconciliation
Number of options
6 months
31 December 2024
Number of options
12 months
30 June 2024
Total options over ordinary shares – 1 July 39,518,404

2,780,620
Exercise of Options (October 2023 and November 2022) -

(1,140,310)
Options issued October 2023 -

1,500,000
Options issued December 2023 -

1,796,393
Exercise of Options (March 2024) -

(934,426)
Options issued March 2024 -

35,516,127
Exercise of Options (August 2024) (995,983)

-
Exercise of Options (September 2024) (2,736,767)

-
Exercise of Options (October 2024) (2,152,509)

-
Impact of share split (3 for 1) 67,266,290

-
Exercise of Options (November 2024) (2,859,342)

-
Exercise of Options (December 2024) (4,226,584)

-
Total options over ordinary shares – 30 June 93,813,509

39,518,404
30 June 2024 option numbers are presented on a pre 3:1 share split basis which occurred during the half year
period

Number of
performance rights

Number of
performance rights


31 December 2024

30 June 2024
Employee incentive performance rights on issue 2,124,528

363,176
Total performance rights currently issued 2,124,528

363,176
30 June 2024 option numbers are presented on a pre 3:1 share split basis which occurred during the half year
period
Reconciliation
Number of
performance rights
6 months
31 December 2024
Number of
performance rights
12 months
30 June 2024
Total performance rights – 1 July 363,176

-
Performance rights issued -

363,176
Impact of Split (3 for 1) 726,352

-
Performance rights issued December 2024 1,035,000

-
Total performance rights 2,124,528

363,176
30 June 2024 performance right numbers are presented on a pre 3:1 share split basis which occurred during the
half year period

SANTANA MINERALS LIMITED


- 26 -

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

11. RELATED PARTIES
There were no material changes in arrangements with related parties from those arrangements set out in the 30
June 2024 annual financial report.
12. SUBSEQUENT EVENTS
Subsequent to the end of the reporting period, the Consolidated Entity issued the following shares on the exercise of
options and performance rights:

a) 9 January 2025 – 90,072 shares issued at $0.3125 per share on exercise of options
b) 10 January 2025 – 2,566,806 shares issued at $0.36 per share on exercise of options
c) 24 January 2025 – 159,360 shares issued on exercise of performance rights
d) 30 January 2025 – 7,209,258 shares issued at $0.36 per share on exercise of options
e) 3 February 2025 – 5,456,286 shares issued at $0.36 per share on exercise of options
f) 12 February 2025 – 4,637,347 shares issued at $0.36 per share on exercise of options
g) 17 February 2025 – 11,014,434 shares issued at $0.36 per share on exercise of options
h) 24 February 2025 – 27,506,016 shares issued at $0.36 per share on exercise of options
i) 4 March 2025 - 18,820,660 shares issued at $0.36 per share on exercise of options

On 4 March 2025 the consolidated entity announced an updated Minerals Resource estimate at the Rise and
Shine Project in New Zealand.
Other than as noted above, no other matter or circumstance has arisen since the end of the reporting period
which has significantly affected, or may significantly affect, the operations of the Consolidated Entity, the results
of those operations or the state of affairs of the Consolidated Entity in subsequent financial years.

- 27 - DIRECTORS’ DECLARATION
Directors’ Declaration

1. In the opinion of the directors of Santana Minerals Limited (“the Company”)

a) the consolidated interim financial statements and notes that are set out on pages 15 to 26 are in accordance
with the Corporations Act 2001, including:

i) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2024 and of
its performance for the six month period ended on that date; and

ii) complying with Australian Accounting Standard AASB 134 Interim Financial Reporting and the
Corporations Regulations 2001; and

2. there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become
due and payable.


Signed in accordance with a resolution of the directors:




Damian Spring
Executive Director

Dated this 12
th
day of March 2025

SANTANA MINERALS LIMITED


INDEPENDENT AUDITOR’S REVIEW REPORT
- 28 -

Independent Auditor’s Review Report


To the shareholders

of Santana Minerals Limited
Conclusion

We have reviewed the accompanying
Half-year Financial Report of Santana
Minerals Limited.
Based on our review, which is not an audit,
we have not become aware of any matter
that makes us believe that the Half- year
Financial Report of Santana Minerals
Limited does not comply with the
Corporations Act 2001, including:

giving a true and fair view of the

Group’s financial position as at 31
December 2024 and of its
performance for the Half-year ended
on that date; and

complying with Australian Accounting

Standard AASB 134 Interim Financial
Reporting and the Corporations
Regulations 2001.
The Half-year Financial Report comprises:

Consolidated interim statement of financial position

as at 31 December 2024

Consolidated interim statement of profit or loss,

consolidated interim statement of other
comprehensive income, consolidated interim
statement of changes in equity and consolidated
interim statement of cash flows for the Half-year
ended on that date

Notes 1 to 12 including selected explanatory notes


The Directors’ Declaration.

The Group comprises Santana Minerals Limited the
Company and the entities it controlled at the Half year’s
end or from time to time during the Half-year.
Basis for Conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by
the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s
Responsibilities for the Review of the Half-year Financial Report section of our report.
We are independent of the Group in accordance with the auditor independence requirements of the
Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical
Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence
Standards) (the Code) that are relevant to our audit of the annual financial report in Australia. We have
also fulfilled our other ethical responsibilities in accordance with these requirements.



KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company
limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited
by a scheme approved under Professional Standards Legislation.

INDEPENDENT AUDITOR’S REVIEW REPORT
- 29 -




Responsibilities of the Directors for the Half-year Financial Report
The Directors of the Company are responsible for:

the preparation of the Half-year Financial Report that gives a true and fair view in accordance with

Australian Accounting Standards and the Corporations Act 2001

such internal control as the Directors determine is necessary to enable the preparation of the

Half-year Financial Report that gives a true and fair view and is free from material misstatement,
whether due to fraud or error.
Auditor’s Responsibilities for the Review of the Half-year Financial Report
Our responsibility is to express a conclusion on the Half-year Financial Report based on our review. ASRE
2410 requires us to conclude whether we have become aware of any matter that makes us believe that
the Half-year Financial Report does not comply with the Corporations Act 2001 including giving a true
and fair view of the Consolidated Entity’s financial position as at 31 December 2024 and its performance
for the Half-Year ended on that date, and complying with Australian Accounting Standard AASB 134
Interim Financial Reporting and the Corporations Regulations 2001.
A review of a Half-year Financial Report consists of making enquiries, primarily of persons responsible
for financial and accounting matters, and applying analytical and other review procedures. A review is
substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and
consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion.






KPMG Simon Crane
Partner

Brisbane
12 March 2025

SANTANA MINERALS LIMITED

CORPORATE DIRECTORY
- 30 -
Corporate Directory

Australian Business No. 37 161 946 989
Directors Peter Cook, Non-Executive Chairman
Frederick Bunting, Non-Executive Director
Emma Scotney, Non-Executive Director
Damian Spring, CEO and Executive Director
Sam Smith, Executive Director
Corporate Secretary Craig McPherson
Registered Office Level 1
371 Queen Street
Brisbane QLD 4000
Phone: +61 7 3221 7501
Email: admin@santanaminerals.com
Website: www.santanaminerals.com
Postal Address GPO Box 1305
Brisbane QLD 4000
Auditors KPMG
Level 11
Heritage Lanes
80 Ann Street. Brisbane
Brisbane QLD 4000

ASX Code SMI
Share Registrars Link Market Services Limited
Level 21
10 Eagle Street
Brisbane QLD 4000
Exchange Australian Securities Exchange
Level 8
Exchange Plaza
2 The Esplanade
PERTH WA 6000