Slide 1: Investor Presentation November 2022
NOVEMBER 2022 INVESTOR PRESENTATION ASX: PEX
Slide 2: Important Notice Disclaimer
IMPORTANT NOTICE DISCLAIMER IMPORTANT NOTICE DISCLAIMER These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Peel Mining Limited (Peel) as at 16 November 2022 and statements are current only as at that date. Information in
Slide 3: Important Notice Disclaimer
IMPORTANT NOTICE DISCLAIMER Industry data Certain market and industry data used in connection with or referenced in the Presentation Materials may have been obtained from public filings, research, surveys or studies made or conducted by third parties, including as published in industry-specific or g
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Peel moves forward with drill out of its Resources Focused on the Cobar Basin; one of the richest base metal regions in Australia Consolidation of assets has accelerated resource growth Peel’s 100% owned 3,200km2 tenure is the second largest holding in the Basin with 4 si
Slide 5: Copper – The Most Critical of Metals
COPPER – THE MOST CRITICAL OF METALS Wood Mackenzie1: “COP26 will ensure demand – but what about supply?” 29 Cu Copper 63.546 1. https://www.woodmac.com/news/opinion/cop26-will-ensure-metal-demand--but-what-about-supply 2. Copper Balance Chart – courtesy Trafigura Research “Copper Market Update” Jun
Slide 6: Company Overview
COMPANY OVERVIEW Market Capitalisation and Enterprise Value Share price / volume history (A$; millions) Market Details Units @ 16c 0.28 25.0 0.26 Ordinary shares on issue m 580.8 0.24 20.0 Market Capitalisation $m 92.9 0.22 Volume (m) 15.0 Cash (30 Sept 2022*) $m 16.8 0.20 Price (A$) Enterprise Valu
Slide 7: The Cobar Basin
THE COBAR BASIN A RICH METALLIFEROUS PROVINCE Cobar region is one of the richest base metal regions in Australia 4 operating long-life mines:- CSA, Peak, Hera and Tritton Ongoing investment activity in Cobar region US$1.1 Billion Sale Agreement Signed for Glencore’s CSA Mine1 AMI invests A$65
Slide 8: Cobar's Worldclass Deposits
COBAR’S WORLDCLASS DEPOSITS High-grade, long-life mining operations CSA Copper Mine Endeavor/Elura Peak Mine Complex Metals: Cu/Ag Metals: Zn/Pb/Ag Metals: Au/Ag/Cu/Pb/Zn Deposit Size: ~51Mt Deposit Size: ~45Mt Deposit Size: ~33Mt Life to date: 59 years Life to date: 37 years Life to date: 30 years
Slide 9: Peel's Copper Deposits Are Cobar Analogues
PEEL’S COPPER DEPOSITS ARE COBAR ANALOGUES Tip of the iceberg? Mallee Bull and Wirlong are classic Cobar-style deposits analogous to the CSA mine Sub-vertical in nature Similar structural settings Systems consist of multiple sub-parallel lenses Comparable high grade copper mineralisation P
Slide 10: South Cobar Project
SOUTH COBAR PROJECT Dominating a World Class Jurisdiction Peel Mining in the Cobar Basin >3,200km2 strategic & prospective land package Tenement Package 100% owned (Royalty & JV free) Peel focused on the Southern part of the Basin 3 major discoveries; 2 re-discoveries in 10 years Discoveri
Slide 11: Moving to Shovel Readiness
MOVING TO SHOVEL READINESS South Cobar Project underpinned by strong copper assets Resource Base Mallee Bull Indicated Resources Cu–Ag–Au–Zn–Pb Infill Drilling Program Completed; REF Submission immanent Environmental Surveys Wirlong REF Permitting for Cu–Ag Infill Resource Drill Program Comp
Slide 12: Flagship Copper Assets
FLAGSHIP COPPER ASSETS Growing Copper Resources with exploration upside Mallee Bull • JORC Indicated and Inferred resource 6.76Mt @ 2.6% Cu Eq1 • Commences at ~60m below surface and has been defined to at least 800m below surface Wirlong • Significant growth potential as open to the North and at dep
Slide 13: Mallee Bull Progresses
MALLEE BULL PROGRESSES Shovel readiness on the horizon Lead/Zinc Hanging Wall Lode 10m @ 11.00% Zn, 9.01% Pb, 41g/t Ag Mallee Bull infill drilling program 17m @ 16.94% Zn, 11.30% Pb, 215g/t Ag 15m @ 10.79% Zn, 5.31% Pb, 223g/t Ag, complete 14m @ 17.53% Zn,12.76% Pb, 266g/t Ag, 11m @ 13.80% Zn, 8.2
Slide 14: Review of Environmental Factors
REVIEW OF ENVIRONMENTAL FACTORS Mallee Bull Exploration Decline REF Permitting Submitted REF submitted to gov agencies for exploration decline at Mallee Bull Proposed site layout complete Further REF’s to be completed for Wirlong and Southern Nights Benefits of exploration declines: • Establis
Slide 15: Wirlong Drill Program Successfully Completed
WIRLONG DRILL PROGRAM SUCCESSFULLY COMPLETED Numerous strong Cu mineralised intervals from infill drilling not included in current mineral resource Extensional Intercepts outside the maiden MRE 17m @ 4.6% Cu, 8g/t Ag Broad intercepts highlight large- 10m @ 1.8% Cu, 3g/t Ag 10m @ 4.6% Cu, 7g/t Ag
Slide 16: Simple Met for Premium Copper Concentrates
SIMPLE MET FOR PREMIUM COPPER CONCENTRATES WIRLONG Clean, high-grade chalcopyrite mineralogy Substantial metallurgical testwork at Wirlong shows premium product with: o >95% Cu recovery to >32% Cu concentrate grade o Negligible deleterious elements or penalties o P80 of 75 micron; moderate reage
Slide 17: Oresorting Advantage
ORESORTING ADVANTAGE Test work continues to show strong results Excellent results from second round of TOMRA oresorting testwork on Mallee Bull and Wirlong samples: Mallee Bull 1.89% Cu head grade sample resulted in: 23.9% mass rejection 96.1% overall copper recovery 1. 2. Unsorted crushed mat
Slide 18: Zinc/Polymetallic Assets
ZINC/POLYMETALLIC ASSETS High grade polymetallic resources provide optionality Southern Nights-Wagga Tank 50km to Mallee Bull Zn-Pb-Ag-Au-Cu VMS camp-style deposit JORC indicated and inferred resource 4.95Mt @ 7% Zn/Pb, 0.3% Cu, 78g/t Ag, 0.4g/t Au1 May Day Open at depth and along strike E
Slide 19: Southern Nights-Wagga Tank
SOUTHERN NIGHTS-WAGGA TANK Extensive high-grade system – Resource growth potential along strike and down dip Open Open Open PEEL MINING LIMITED I ASX: PEX I Investor Presentation I www.peelmining.com.au 19
Slide 20: May Day
MAY DAY Further future exploration potential in close proximity May Day 8km West of Mallee Bull March 2021 Indicated MRE (using $27/t and $37/t cut- offs for open pit oxide and sulphide; and $80/t for underground) 1.07Mt @ 1.02g/t Au, 26g/t Ag, 0.74% Zn, 0.5% Pb MRE contains approximately 35
Slide 21: Summary
SUMMARY Progressing high grade assets to shovel readiness Infill drilling at Mallee Bull and Wirlong complete Currently updating resources Permitting Mallee Bull, Wirlong and Southern Nights for exploration declines underway Mining studies continuing Combined 32,000-acre landholdings over
Slide 22: Thank You
THANK YOU FOR MORE INFORMATION CONTACT: P: (08) 9382 3955 WWW.PEELMINING.COM.AU 22
Slide 23: Competent Persons Statements
COMPETENT PERSONS STATEMENTS The information in this report that relates to Exploration Results; and to the geological interpretation and sampling information regarding the Wirlong Mineral Resource Estimate; is based on information compiled by Rob Tyson who is a fulltime employee of the company. Mr
Slide 24: JORC Code Information
JORC CODE INFORMATION Mallee Bull, Wagga Tank-Southern Nights, May Day and Wirlong Mineral Resource Estimate Information Further information can be found in the ASX announcements: • 6th July 2017 - “MALLEE BULL RESOURCE GROWS 65% TO 175,000t CuEq”; • 26th March 2020 - “SUBSTANTIAL RESOURCE UPGRADE F
Slide 25: JORC Code Information: Wirlong Resource Table
JORC CODE INFORMATION Wirlong Resource Table November 2021 WIRLONG MAIDEN MINERAL RESOURCE ESTIMATE Resource Cu Ag Contained Contained Domain Tonnes (Kt) Classification (%) (g/t) Cu (t) Ag (oz) Indicated 450 3.1 11.3 13,900 163,000 MBX Inferred 930 2.8 10.1 26,000 302,000 Sub-total 1,380 2.9 10.5 39
Slide 26: JORC Code Information: Mallee Bull Resource Table
JORC CODE INFORMATION Mallee Bull Resource Table July 2017 Grade Contained Metal Cutoff Resource Tonnes Domain CuEq Cu Pb Zn CuEq Cu Ag Au Pb Zn CuEq Category (Kt) Ag g/t Au g/t % % % % kt kt Moz koz kt kt HW Indicated 270 3.08 0.10 51 0.22 2.30 4.00 8.3 0.3 0.44 1.9 6.2 11 Pb/Zn Inferred 150 2.0 0.
Slide 27: JORC Code Information: Wagga Tank-Southern Nights
JORC CODE INFORMATION Wagga Tank-Southern Nights Resource Table March 2020 Southern Nights Mineral Resource Estimate Resource Tonnes Zn Pb Ag Cu Au Classification (Kt) (%) (%) (g/t) (%) (g/t) Indicated 2,540 5.90 2.30 88.9 0.19 0.33 Inferred 1,600 3.7 1.4 59 0.3 0.3 Total Resource 4,140 5.0 2.0 77 0
Slide 28: JORC Code Information: May Day Resource Table
JORC CODE INFORMATION May Day Resource Table December 2020 COMBINED MAY DAY INDICATED MINERAL RESOURCE ESTIMATES (ROUNDED) Cut off Tonnes Au Ag Zn Pb $NSR Kt g/t g/t % % Oxide $27/t 510 1.03 20.4 - - Open Pit Sulphide $37/t 390 1.00 28.2 1.31 0.84 Subtotal 900 1.02 23.8 0.57 0.36 Underground (Sulphi