Slide 1: Investor Presentation October 2016
adelaideresources.com.au For personal use only Investor Presentation October 2016 Drill – Discover – Develop
Slide 2: Company snapshot
adelaideresources.com.au Company snapshot For personal use only • Principal commodity focus is gold ASX ticker ADN with two significant projects Ordinary shares on issue 405.7m • Complementary advanced copper and Share price (at 30‐Sept‐16) A$0.019 early stage lithium tenements 12 month trading band
Slide 3: Asset portfolio: Focused suite of Australian prospects
adelaideresources.com.au Asset portfolio Focused suite of Australian prospects For personal use only Gold • Eyre Peninsula (SA) – large land position, maiden Mineral Resource and multiple prospects • Drummond (QLD) – drill ready epithermal gold targets in high grade district Copper • Moonta (SA) – h
Slide 4: Value Proposition
adelaideresources.com.au Value Proposition For personal use only • Clear gold focus ‐ commodity with strong investor interest • Advanced gold project in SA ‐ recent 107,000 ounce maiden Mineral Resource estimate at Barns deposit with resource growth achievable • Drilling imminent – commencing early
Slide 5: Drummond epithermal gold
adelaideresources.com.au Drummond epithermal gold For personal use only Classic epithermal gold targets • 100% owned, 833 km2 project • Targeting high grade gold hosted by epithermal quartz veins (eg Pajingo, Yandan and Wirralie) • Granted tenements (black borders) secure the emerging “Glenroy Field
Slide 6: What is an epithermal gold system?
adelaideresources.com.au What is an epithermal gold system? • Form during periods of active For personal use only volcanism associated with subduction of tectonic plates • Gold deposited in quartz veins at relatively shallow depths below the surface • Fluids vent on surface as hot springs Active epi
Slide 7: General model of an epithermal gold system
adelaideresources.com.au General model of an epithermal gold system For personal use only Arsenic Zone Gold Zone (At depth below arsenic zone) (After Buchanan (1981), Morrison et al. (1990) and Corbett & Leach (1997)). Drill – Discover – Develop 7
Slide 8: Glenroy Field
adelaideresources.com.au Glenroy Field For personal use only • Drummond Basin Cycle 1 geology – main epithermal gold host in region • Numerous sizable gold‐bearing epithermal systems outcrop at surface in the Glenroy Field • Level of systems exposed at today’s land surface range from palaeosurface (
Slide 9: Bunyip drill target
adelaideresources.com.au Bunyip drill target For personal use only • Prospect discovered in late 2015 • Surface rock chips to 19.65g/t gold • Over 2,000 metres of quartz veins exposed at surface • Strong associated arsenic and molybdenum pathfinder metal anomalism • Nearby outcrop of palaeo‐surface
Slide 10: Additional drill targets delineated in early 2016
adelaideresources.com.au Additional drill targets delineated in early 2016 For personal use only • Poppi’s Prospect – surface rock chips include 6.04g/t, 4.06g/t, 3.54g/t and 2.70g/t gold. Silver to 22.7g/t present. (Gold zone exposed at surface) • Roo Tail – rock chips include 2.19g/t and 1.09g/t g
Slide 11: Drummond summary
adelaideresources.com.au Drummond summary For personal use only • Land holding 100% owned and significantly expanded in 2016 • Granted tenements secure the Glenroy epithermal field – multiple epithermal systems identified • The Glenroy systems are generally not deeply eroded ‐ target gold zones like
Slide 12: Eyre Peninsula gold
adelaideresources.com.au Eyre Peninsula gold Large project in Central Gawler Gold Province For personal use only • Substantial 2,807km2 project • Barns Camp gold deposits (Barns, Baggy Green, White Tank) all 100% owned • Deposits found in early 2000’s when gold was ~A$550/ounce. Increase to price of
Slide 13: Barns – interpreted deposit model
adelaideresources.com.au Barns – interpreted deposit model Detailed deposit modelling completed in Q1 2016 For personal use only • The model confirms the presence of two flat lying supergene gold zones, below which lie up to ten stacked west dipping primary lodes Barns mineralisation model looking N
Slide 14: Barns gold deposit – maiden Mineral Resource estimate
adelaideresources.com.au Barns gold deposit – maiden Mineral Resource estimate 107,000 ounce maiden For personal use only Mineral Resource announced July 2016 • Mining Plus Pty Ltd and Adelaide Resources Ltd jointly responsible for resource estimate (1) Full JORC 2012 compliance information was disc
Slide 15: Barns – comparison with other SA gold projects
adelaideresources.com.au Barns – comparison with other SA gold projects For personal use only Portia(1) Tarcoola(2) Barns(3) Company Havilah Resources (HAV) WPG Resources (WPG) Adelaide Resources (ADN) Resource 720Kt @ 2.9g/t Au 973Kt @ 3.12g/t Au 2,100Kt @ 1.60g/t Au Resource Ounces 67,000 97,500 1
Slide 16: Barns gold deposit summary
adelaideresources.com.au Barns gold deposit summary Current status For personal use only • Discovery and early delineation when gold around A$550/oz • Increase in gold price to >A$1,700/oz dramatically improves economics • 107,000 ounce maiden Mineral Resource recently estimated • Comparable gold ou
Slide 17: Barns – part of a larger gold camp
adelaideresources.com.au Barns – part of a larger gold camp Additional gold resources near Barns would improve project robustness For personal use only • Past drilling has discovered other prospects that can build local resource base • RC drilling at Baggy Green commencing early Oct16 ($200,000 PACE
Slide 18: Baggy Green prospect history
adelaideresources.com.au Baggy Green prospect history For personal use only • Originally indicated as 3km long gold anomaly in regional calcrete geochemical survey • Systematic aircore drilling defined coherent zones of gold mineralisation in saprolite beneath shallow cover sediments • Potentially e
Slide 19: Baggy Green – cross section through southern target zone
adelaideresources.com.au Baggy Green – cross section through southern target zone Principal mineralised shear structure is well defined For personal use only • Average true width of primary zone is 27 metres • Gentle dip – 450m west of eastern limit, the mineralised zone is still <200m below surface
Slide 20: Baggy Green and Tropicana at same scale – plan
adelaideresources.com.au Baggy Green and Tropicana (>6Moz resource) at same scale ‐ plan For personal use only Tropicana‐Havana prospect plan Baggy Green Plan projection showing g/t Au x thickness (m) contours. Source: Independence Group NL (IGO) ASX release dated 23 Jan 2009. 2.6km Narrow high grad
Slide 21: Baggy Green and Tropicana at same scale – cross section
adelaideresources.com.au Baggy Green and Tropicana at same scale – cross section Discovery section of Boston Shaker zone For personal use only at Tropicana very similar to Baggy Green South • Both have gold in shear zones with gentle dips (~25°) • Similar depths of weathering • Gold with pyrite and
Slide 22: Baggy Green current RC drill programme
adelaideresources.com.au Baggy Green current RC drill programme For personal use only RC drilling commencing early Oct16 • Goal is to test local targets North target that can materially build on established 107,000 ounce Barns Mineral Resource • Drilling to be completed at both southern and northern
Slide 23: Baggy Green South – plan projection of initial target
adelaideresources.com.au Baggy Green South – plan projection of initial target For personal use only Sizable 600m x 250m initial target zone defined where mineralised structure will be within 100m of the surface • This is a ~7 million tonne volume where gold potential is high • If 1/3 of this volume
Slide 24: Baggy Green South – potential for much bigger target
adelaideresources.com.au Baggy Green South – potential for much bigger target For personal use only Baggy Green Plan Initial shallow target zone is part of larger potential target. • The southern zone is interpreted to have a strike of 2000 metres and remains open to the SW • Assuming consistent dip
Slide 25: Baggy Green North – 2nd opportunity
adelaideresources.com.au Baggy Green North – 2nd opportunity 1.9km north of south zone • Currently defined by only a single traverse of RC holes For personal use only • Broad widths of mineralisation indicated, including some good grade sub‐intervals • Drilling in current programme designed to confi
Slide 26: Eyre Peninsula Gold summary
adelaideresources.com.au Eyre Peninsula Gold summary For personal use only • JORC Code 2012 compliant maiden Mineral Resource for Barns totals 2.11 million tonnes at 1.6g/t gold for 107,000 ounces at a 0.5g/t cut‐off • Next steps at Barns include metallurgical testing to establish gold recovery and
Slide 27: Forward programme and share price catalysts
adelaideresources.com.au Forward programme* and share price catalysts Eyre Peninsula Gold For personal use only • RC drilling at Baggy Green (current programme) • RC drilling at Barns West, Barns South, White Tank and Empire targets • RC drilling at Barns to extend resource and infill drill to allow
Slide 28: Competent Person statements
adelaideresources.com.au Competent Person statements For personal use only Competent Person statements General Exploration: The information in this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Chris Drown
Slide 29: JORC 2012 and Cautionary statement
adelaideresources.com.au JORC 2012 and Cautionary statement JORC Code 2012 statements For personal use only The information relating to Adelaide Resources’ exploration to 30 November 2013 and its assessment of exploration completed by past explorers was prepared and first disclosed under the JORC Co
Slide 30: Contact
adelaideresources.com.au For personal use only Contact: Chris Drown 0427 770 653 adelaideresources.com.au Drill – Discover – Develop