Indiana Resources Limited · ASX:IDA

Indiana Resources — Investor Presentation (December 2019)

16 slides from Indiana Resources's investor presentation, Dec 2, 2019

1. Slide 1: A New Mali Gold Explorer

   For personal use only A NEW MALI GOLD EXPLORER DECEMBER 2019

2. Slide 2: Disclaimer and Competent Persons' Statements

   For personal use only DISCLAIMER AND COMPETENT PERSONS’ STATEMENTS This presentation (the “Presentation”) has been prepared by Indiana Resources Limited (‘”Indiana”). No party other than Indi ana has authorised or caused the issue of this document, or takes responsibility for, or makes any statement

3. Slide 3: Corporate Snapshot

   For personal use only Corporate Snapshot Capital Structure & Ownership Board & Management Current Share Price 2.5c (ASX close 29-11-19) Bronwyn Barnes - Non-Executive Chair Shares on Issue 184 million* Africa Exp, Ex - NED of MOD Resources, Corporate background Market Capitalisation $4.6 million Opt

4. Slide 4: Strategic Position in a Proven Belt

   For personal use only Strategic Position in a Proven Belt  Excellent geological address hosting world class mines  Located in highly prospective and prolific gold producing Kenieba Inlier  Multiple major gold projects/ mines include:  Barrick - Loulo, Gounkoto, Massawa, Delya and Sofia  Teranga

5. Slide 5: Highly Prospective Mali Land Package

   For personal use only Highly Prospective Mali Land Package  Gold endowed Birimian Greenstone belt  Mali – 3rd largest African gold producer  Belt contains world class multi-million ounce deposits  Geologically similar to WA – similar exploration techniques  Indiana holds strategic position alon

6. Slide 6: Outstanding Early Exploration Success

   For personal use only Outstanding Early Exploration Success  Region relatively underexplored  Previous exploration not systematic - many targets remain undrilled  Central area skeletal soil cover and subcrop  Eastern and western parts of licence have shallow soil cover  Soil geochemistry an eff

7. Slide 7: Koussikoto Ouest Drilling

   For personal use only Koussikoto Ouest Drilling  Detailed soil geochemistry covers central and west parts of tenement only  Review of historic geochemistry identified 11 distinct anomalies with peak values up to 10,000ppb  > 20 strike kilometres of significant gold anomalism identified to date 

8. Slide 8: Saboussire JV

   For personal use only Saboussire JV  100km2 permit located adjacent to Kossanto West  Regional gold bearing structures extend into the licence area  Historical government regional soil geochemistry guided initial targets  Regional geochemistry identified several +1,000ppb anomalies that require

9. Slide 9: Saboussire JV

   For personal use only Saboussire JV  Soil geochemistry programme completed  Three priority zones to test/extend existing Government soil sample anomalies  Sampling on 200 x 100 metre line spacing  Numerous artisanal workings observed during the program  Suggests presence of alluvial and elluvia

10. Slide 10: Kenieko JV - Drilling confirms anomalism

    For personal use only KENIEKO JV – 95% IDA Drilling confirms anomalism  2018 geochem defines 2km strike of anomalous Au in soil  Artisanal activity to shallow depths validates structures  Access to drill sites restricted by artisanal activity – constrained to either end of major area of interest

11. Slide 11: Strategic Opportunity

    For personal use only Strategic Opportunity  Discussions significantly progressed with other licence holders to expand Malian footprint.  Historic work has been piecemeal - limited advanced exploration work undertaken consistently  A number of Confidentiality Agreements signed  Discussions with

12. Slide 12: Ntaka Hill Nickel Sulphide Project – Attractive Option

    For personal use only Ntaka Hill Nickel Sulphide Project – Attractive Option JV Ownership • IDA - 60.36%, Loricatus Resource Investments (Fig Tree) - 25.87% and MMG -13.77% • US$60M collectively spent on project to date Tenement Status • Retention Licences revoked early 2018 • IDA has lodged submiss

13. Slide 13: A Development Ready Asset

    For personal use only A Development Ready Asset  A Mining Exploration and Development Plan lodged with the Tanzanian Ministry of Minerals October 2019  Plan outlines 4 year work programme and budget to advance Ntaka Hill to Decision to Mine  Planned activities includes:  An expanded drilling pro

14. Slide 14: 2019-2020 Work Programme

    For personal use only 2019-2020 Work Programme REGION ACTIVITY Nov Dec Jan Feb Mar Apr May West Mali - Southern Zone Koussikoto Resolve Joint Venture Discussions RC Drilling Kenieko Soil Geochem AC/RC Drilling West Mali - Northern Zone Saboussire Soil and Rock Chip Geochem AC/RC Drilling West Mali –

15. Slide 15: Positioned For Growth

    For personal use only Positioned For Growth  Strategic ground position in a prolific gold province hosting multiple world class deposits  Highly prospective land package with outstanding results to date  Multiple high priority drill-ready targets  Potential land acquisition/ consolidation opport

16. Slide 16: Contact

    For personal use only Contact Bronwyn Barnes Chairman +61 8 9429 8829 info@indianaresources.com.au www.indianaresources.com.au

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