Estrella Resources Limited · ASX:ESR

Estrella Resources — Investor Presentation (August 2021)

20 slides from Estrella Resources's investor presentation, Aug 2, 2021

1. Slide 1: Target = World Class High Quality Nickel Sulphide Resource

   For personal use only ASX:ESR TARGET = WORLD CLASS HIGH QUALITY NICKEL SULPHIDE RESOURCE INVESTOR PRESENTATION AUGUST 2021 1

2. Slide 2: Disclaimer & Declaration

   DISCLAIMER & DECLARATION For personal use only This presentation has been prepared by Estrella Resources Limited (“ESR”) as a summary of the company’s exploration and development activities, with particular reference to the Carr Boyd Ni/Cu Project near Kalgoorlie, WA. No Offer of Securities The pres

3. Slide 3: Investment Opportunity

   INVESTMENT OPPORTUNITY For personal use only  WA-focussed nickel exploration company in a Tier-1 mining jurisdiction  100% owned Carr Boyd project only 80km from Kalgoorlie, W.A. ESTRELLA RESOURCES  Initial drilling programs have discovered Massive Nickel Sulphide at the T5 prospect  Major explo

4. Slide 4: Capital Structure (as at July 2021)

   CAPITAL STRUCTURE (AS AT 26 JULY 2021) For personal use only FPOS 1,162,043,740 Options 10,000,000 10c exercise June 2022 5,000,000 5c exercise June 2022 11,500,000 3c exercise Nov 2022 (ASX:ESROA) 254,363,575 2c exercise July 2023 16,600,000 20c exercise Nov 2023 ESTRELLA RESOURCES Convertible Note

5. Slide 5: Experienced Board & Management

   EXPERIENCED BOARD & MANAGEMENT LESLIE PEREIRA Experienced investor and businessman with a strong involvement in small companies and maximising their potential For personal use only value. Heavily involved in driving growth of Majestic Resources / Petra Diamonds – now merged with Petra Non-Executive

6. Slide 6: EV Demand Driving Nickel Outlook

   EV Demand Driving Nickel Outlook Car manufacturers adopting These batteries projected to hold Supply deficits in nickel forming EV car manufacturers busy For personal use only battery chemistries with higher 63% of EV market in over the decade locking in nickel supply nickel content1 six years1 agre

7. Slide 7: Carr Boyd Overview

   CARR BOYD OVERVIEW For personal use only  100% owned Ni-Cu-PGE Project  Continuous tenure covering 259km2  Tenements cover entire 75km2 mafic and ultramafic igneous ESTRELLA RESOURCES complex with multiple nickel and copper sulphide occurrences – most significant being the Carr Boyd Rocks mine 

8. Slide 8: Carr Boyd - History

   CARR BOYD - HISTORY For personal use only GBM and NK Placed into new ASX Pallinghurst sell Apollo sell Carr acquired by WMC, float Defiance Mining Titan JV to Yilgarn WA assets to Salt Boyd to Estrella mined from 1973- (1987) additional Mining (2006) Lake Mining Resources (2017) 1977 areas consolida

9. Slide 9: Carr Boyd – Mine Source?

   CARR BOYD – MINE SOURCE? Mined from 1973 to 1977 by WMC For personal use only  Total production: 202,100t at 1.43% Ni and 0.46% Cu producing a 9.7% Ni concentrate  High tenor nickel mineralisation is confined to coarse grained, bronzite pyroxene rich rocks with sulphide minerals forming a matrix a

10. Slide 10: T5 – Diamond Drilling

    T5 – DIAMOND DRILLING For personal use only  T5 has yielded several highly significant intersections to date2 containing nickel, copper, cobalt, platinum, palladium and silver in the Company’s Phase 2 step-out drilling  6,464m drilled in 13 diamond holes Hole m From m To Interval Ni% Cu% Co% 2PGE

11. Slide 11: T5 Discovery – Phase 2

    T5 DISCOVERY – PHASE 3 For personal use only  Phase 3 drilling has yielded further massive sulphide intercepts in almost all holes ESTRELLA RESOURCES ASX: ESR 11 11

12. Slide 12: T5 Discovery – Phase 3 & 4

    T5 DISCOVERY – PHASE 3 & 4 For personal use only Phase 3 drilling aims to determine plunge direction, geological vectors and confirm basal mineralisation. Phase 3 combines close ESTRELLA RESOURCES spaced drilling and step- out drilling with DHEM to achieve goals. Phase 4 will step North (for 3km) an

13. Slide 13: T5 Discovery – Highly Successful Phase 3 Drilling

    True Hole m From m To Interval Width Ni% Cu% Co% 2PGE ** Ag g/t CBDD048 381.5 388.4 6.9 3.3 0.54 0.26 0.03 0.41 1.10 T5 DISCOVERY – including 382.5 383.14 0.64 1.52 0.21 0.08 0.95 1.35 and 385.85 386.2 0.35 1.32 0.36 0.06 0.61 2.10 CBDD049A 386.67 393.58 6.91 3.3 0.75 0.54 0.04 0.48 2.39 including 3

14. Slide 14: T5 Basal Contact

    T5 BASAL CONTACT For personal use only  Examination of core from Phase 3 drilling shows strong possibility T5 Conductor is one of several south-plunging targets along the surface of the T5 Basal Contact. ESTRELLA RESOURCES  These “banks” of deposited sulphides appear to be connected within a halo

15. Slide 15: Expanded Opportunity

    EXPANDED OPPORTUNITY For personal use only  The basal pyroxenite host rock at T5 extends both north and south of the current drill position  Historical drilling of the basal contact has been sporadic, however nickel sulphides (NiS) have been located in the past  Exploration will involve systemati

16. Slide 16: Geological Modelling Enhances Exploration

    GEOLOGICAL MODELLING ENHANCES EXPLORATION For personal use only  Geological understanding of the mineralisation process at T5 should allow the vectoring to additional Ni-Cu intercepts by following the progression ESTRELLA RESOURCES of assimilated sulphides through the T5 pyroxenite  The silica-sul

17. Slide 17: Carr Boyd Intrusive Complex

    CARR BOYD INTRUSIVE For personal use only COMPLEX  Estrella’s geological understanding of the Carr Boyd Igneous Complex & surrounding stratigraphy is growing ESTRELLA RESOURCES rapidly  Mapping of the prospective basal contact and footwall geology is underway  The mapped location of sulphide sour

18. Slide 18: Carr Boyd Exploration Strategy

    CARR BOYD EXPLORATION STRATEGY Near term catalysts and continual news flow For personal use only Carr Boyd Project Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY23-FY24 2,500m RC to test T5 up-plunge JORC Indicated Resource Scoping Studies and JORC Indicated Resource Upper T5 Discovery Area extensions Metallurg

19. Slide 19: Investment Opportunity

    INVESTMENT OPPORTUNITY For personal use only  Active nickel explorer in a tier-1 mining jurisdiction  Focused on discovery of a World Class, High Quality, Nickel Sulphide Resource ESTRELLA RESOURCES  Using knowledge and technology as a key weapon  Experienced board and management in exploration

20. Slide 20: Contact

    For personal use only Contact: Chris Daws Managing Director M: +61 8 9481 0389 E: info@estrellaresources.com.au

Estrella Resources — Investor Presentation (August 2021) on 6ix