Marmota Limited · ASX:MEU

Marmota — Shareholder Meeting (November 2015)

16 slides from Marmota's shareholder meeting presentation, Nov 26, 2015

1. Slide 1: AGM Presentation 2015

   For personal use only AGM Presentation 2015 26 November 2015

2. Slide 2: Your New Board!

   Your New Board! For personal use only Dr Colin Rose Chairman (non-­‐exec) David Williams Managing Director Peter Thompson Technical Director (non-­‐exec) * Different skill sets make for a good Board 2

3. Slide 3: Corporate Snapshot

   Corporate Snapshot ASX: MEU! For personal use only Capital Structure Largest Shareholders Shares on issue 367 m Op:ons (MEUO; 2cps exercise, expiry 9 Dec 2015) ~ 9 m Unlisted op:ons ~ 1.5 m Dr Colin Rose Market Cap (at 3 cents per share) $11 m Yandal Cash $550,000 Investments (Mark Creasy) Zero Debt

4. Slide 4: Share Price

   Share Price ASX: MEU! 2 month plot 3 year plot For personal use only Since announcements re: Not back to historical levels yet • Widgety (14 Oct) and (and Marmota didn’t have a • Westpoint Hill (26 Oct) Westpoint Hill discovery back then) … share price and volumes have increased 4

5. Slide 5: Stage 1: Restructuring (May and June)

   Stage 1: Restructuring (May and June)! For personal use only • New Board • New capital * • Opera:ng costs cut: saving about $700,000 per annum – run the en`re non-­‐exec Board for a cash cost of $17,001 p.a. – new premises – new registry service: Link – combined MD / company secretary, etc All adds

6. Slide 6: Stage 2: All Systems Go (since July ...)

   Stage 2: All Systems Go (since July ...)! For personal use only • In July: Marmota launched an aggressive new gold explora:on program across its prime tenement holdings around the Challenger gold mine • In-­‐house geos: sta:oned in the Gawler Craton, auger drilling calcrete samples • Program is alre

7. Slide 7: Why are we looking for the next Challenger?

   For personal use only Why are we looking for the next Challenger? Challenger gold mine o already produced over 1 million ounces of gold o A$1.5 billion of gold at current prices 7

8. Slide 8: In pursuit of … The next Challenger!

   In pursuit of … The next Challenger! For personal use only • Marmota has a DOMINANT tenement holding around Challenger o See diagrams: next 2 pages o MEU tenements cover 4,000 km2 of highly prospec`ve area around the Challenger gold mine • Credit is due to previous team who acquired this ground for

9. Slide 9: MEU Tenements around Challenger

   MEU Tenements around Challenger For personal use only

10. Slide 10: MEU, Challenger and Neighbours

    MEU, Challenger and Neighbours For personal use only 10

11. Slide 11: Others have tried ...

    For personal use only Others have tried ... Marmota’s results at Westpoint Hill are beier than 99.9% of all calcrete sampling data recorded in the South Australian Government database of 192,677 samples. 11

12. Slide 12: Calcrete sampling in the Gawler Craton

    Others have tried .... For personal use only Calcrete sampling in the Gawler Craton 12

13. Slide 13: Understanding previous slide ....

    Understanding previous slide ….! For personal use only Marmota’s tenements around Challenger: ! Significantly underexplored … oken nothing other than 1-­‐mile grid ! Yes – this is GOOD! … huge poten:al Dan Gray, MEU Senior Geologist, will be delivering a separate presenta:on about the discovery of We

14. Slide 14: One more thing: Marmota's $2m bid for Challenger

    One more thing: Marmota’s $2m bid for Challenger! • Marmota has made an open $2m offer for the For personal use only Challenger gold mine • Marmota’s offer is unambiguously beier than WPG offer: at least TWICE as good. • Marmota can offer synergy of Challenger with the poten`al of Westpoint Hill (25km a

15. Slide 15: Summary

    Summary • We have just begun ... For personal use only • Highly prospec`ve tenements and massively underexplored • Westpoint Hill: EXCEPTIONAL gold anomalism • Marmota has iden:fied a NEW LARGE GOLD anomaly in the Gawler Craton • Exci`ng `mes ... 15

16. Slide 16: Disclaimer

    Disclaimer Disclaimer For personal use only This presenta`on has been prepared by Marmota Energy Limited (“MEU”). The informa`on contained in this presenta`on is a professional opinion only and is given in good faith. Certain informa`on in this document has been derived from third par`es and though

Marmota — Shareholder Meeting (November 2015) on 6ix