Black Rock Mining Limited · ASX:BKT

Black Rock Mining — Investor Presentation (March 2016)

15 slides from Black Rock Mining's investor presentation, Mar 16, 2016

1. Slide 1: A Tanzanian Graphite Developer

   For personal use only A Tanzanian Graphite Developer INVESTOR PRESENTATION MARCH 2016

2. Slide 2: Disclaimer

   Disclaimer For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe s

3. Slide 3: Corporate Overview

   Corporate Overview For personal use only Board and Management Capital Structure Stephen Copulos (Chairman) Share Price $0.06  +30 years experience across a wide range of industries Shares on Issue 277m including mining, manufacturing, property, fast food and hospitality. Quoted Options on Issue1 77

4. Slide 4: The Mahenge Graphite Project, Tanzania

   The Mahenge Graphite Project, Tanzania For personal use only Fourth largest flake graphite JORC Resource in the World. On track to commercialise within 2 years  Largest and highest grade resource in Tanzania. 131Mt@ 7.9% TGC* with high grade portions of 37.6Mt @10.2% or 16.7Mt@ 11.1%.  Higher grad

5. Slide 5: Mahenge Graphite Project (Cont'd)

   Mahenge Graphite Project (Cont’d) For personal use only Tanzania’s largest and highest grade graphite resource with 10.4Mt contained graphite. Fourth largest JORC Resource in the World  Metallurgical test work indicates high coarse flake recoveries with high purities: testing from Epanko north prim

6. Slide 6: Commercial Objectives

   Commercial Objectives For personal use only In February 2016, our exploration team delivered the largest and highest grade contained graphite resource in Tanzania, or the fourth largest Globally. This resource provides huge flexibility for small or large production rates. We have a very pragmatic an

7. Slide 7: Natural flake graphite market

   Natural flake graphite market For personal use only Set for continuing battery demand growth  Production is currently dominated by China (75%) and Brazil (10-15%) Flake Graphite by Use  China does not have significant coarse flake proportions compared to Africa Other 7%  East Coast Africa is set

8. Slide 8: Metallurgical test work, Perth

   Metallurgical test work, Perth For personal use only Extensive metallurgical test work programme underway with first stage results expected in March  Formal programme to evaluate Epanko and Ulanzi lodes. 500kg sample from Ulanzi processed to make flake concentrates for further evaluation and market

9. Slide 9: Mahenge Project Area

   Mahenge Project Area For personal use only  680km2 of tenure  The Epanko north, Ulanzi and Cascades graphite zones contain Tanzania’s largest and highest grade graphite resource. Additional drilling will yield more graphite mineralisation  60km from Ifakara which has mains power from the nearby M

10. Slide 10: Development Pathway

    Development Pathway For personal use only Construction & Exploration Development Production  Tenure Acquisition  Scoping Study  Project Execution Plan  Community engagement  Metallurgical testwork  Financing Commence exploration  Pre-feasibility study  Construction  Maiden drill programme

11. Slide 11: ASX Peer Comparison – total resource size

    ASX Peer Comparison – total resource size For personal use only Market Resource Grade Cont. Enterprise EV/Tonne Resource Category Company Cap Size (TGC%) Graphite Type Project Location Value Graphite (JORC) ($M) (Mt) (Mt) A$m A$/t Syrah Resources (SYR) $1,009 1,150 10.2% 117 Flake Measured, Ind, Inf

12. Slide 12: Ulanzi cross section

    Ulanzi cross section For personal use only Cross sectional view of Ulanzi mineralised lode showing mineralisation on top of steep dipping ridge structures, ideal for low cost mining. Mining strip ratio is expected to < 1:1 Waste:Ore.

13. Slide 13: Summary: Value Proposition

    Summary: Value Proposition For personal use only  The Largest and highest grade JORC resource in Tanzania 131Mt@ 7.9% TGC with 40% of resource tonnes in the Indicated category. High grade zones of 16.7Mt @11.1% TGC. Low strip ratio open pit mining Ability to produce 25-250ktpa of graphite concentra

14. Slide 14: Ulanzi Block model 3D view

    Ulanzi Block model 3D view For personal use only Ulanzi Block model – 3D View

15. Slide 15: Thank You

    Thank You For personal use only Mr. Steven Tambanis Managing Director Office: +61 8 9320 7550 st@blackrockmining.com.au

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