Slide 1: Uranium Asset Overview
URANIUM ASSET OVERVIEW Unlocking The Eyre Peninsula’s Uranium Potential 16 October 2024
Slide 2: Important Notice and Disclaimer
ASX:LML Important Notice and Disclaimer 2 Disclaimer • The information contained in this document (“Presentation”) has been prepared Lincoln Minerals Limited forward-looking future performance and actual results or developments may differ materially from those in the forward- (“Company”). The purpos
Slide 3: Important Notice and Disclaimer
ASX:LML Important Notice and Disclaimer 3 Disclaimer Table 2. Green Iron Project total Mineral Resources. JORC Year Tonnes Mass Recovery Fe Head SiO2 Head Fe Con SiO2 Con Deposit Name Classification Status (Mt) (%) (%) (%) (%) (%) Table 1. Kookaburra Gully Graphite project total Mineral Resources. K
Slide 4: Overview of Lincoln Minerals
ASX:LML Overview of Lincoln Minerals 4 1. Lincoln doubles Eyre Peninsula graphite resource in seven months Lincoln Minerals ASX release 15 April 2024 2. Historic uranium drill intercept up to 570 ppm (Lincoln Minerals Limited ASX release 09 April 2024 3. Lincoln confirms strategic 1.2 Billion Tonne
Slide 5: Lincoln Uranium Projects - Highlights
ASX:LML Lincoln Uranium Projects - Highlights 5 Lincoln’s uranium has multiple highly prospective uranium targets across its existing tenement portfolio on Eyre Peninsula. • Highlights from historic work include: • Jungle Dam – intersected up to 570 ppm U in scout drilling1; • Yallunda – Historic dr
Slide 6: Lincoln Uranium Tenements
ASX:LML Lincoln Uranium Tenements 6 Lincoln uranium portfolio: • Three core exploration projects located on South Australia, Australia’s most prolific uranium exploration state. • All projects contain confirmed uranium mineralisation; • Prior drill and surface sampling results • Geochemical and geop
Slide 7: Summary of Key Activities
ASX:LML Summary of Key Activities 7 Highlights: Key Catalysts: • Lincoln’s South Australian uranium projects are all Yallunda highly attractive and advanced exploration propositions. • Sampling program targeting 7km radiometric anomaly – • Known uranium mineralisation exists on each project November
Slide 8: Yallunda Project
ASX:LML 8 Yallunda Project
Slide 9: Yallunda Project
ASX:LML Yallunda Project 9 Yallunda Project Overview: • Multiple potential mineralisation styles • Shear zone related mineralisation along altered Donington and Peter Pan Suites. • Paleochannel style mineralisation associated with weathered uraniferous Moody Suite granites. • Project area features h
Slide 10: Large Radiometric Anomaly
ASX:LML Large Radiometric Anomaly 10 • Newer dataset has provided additional information across EL 6448. • Surface uranium anomalism has increased from 7km to over 20km with readings exceeding 150ppm uranium equivalent (eU)1. • Northern uranium anomalism coincides with Moody Suite granites. • Airbor
Slide 11: Yallunda Historic Drilling
ASX:LML Yallunda Historic Drilling 11 • Drillhole KODD001: 260ppm U at 63-65m in pegmatitic veins within Hutchison Groups schists1. • Drillhole KA-4 (White Flat): 350ppm U at contact of intrusive granite with ferruginous schist of the Hutchison Group2. • Drill logs on the southern project area detai
Slide 12: Vanadium Drillcore Assay (Indicator Element)
ASX:LML Vanadium Drillcore Assay (Indicator Element) 12 • Drillhole locations shown in red contain a vanadium assay ranging from 300- 910ppm vanadium. • Uranium and vanadium Vanadium hotspot. 1000ppm V occurs often occur together. This proximal to historic uranium intersection co-mineralisation is o
Slide 13: Regional Uranium Occurrences
ASX:LML Regional Uranium Occurrences 13 Tewinga, Tallala & Bantu • Brannerite in gneisses along the eastern coast. Nunmulta & Donley • Minor uranium occurrences in Tertiary paleochannels with reduced pyritic sands. Previous uranium exploration in the area includes: • Afmeco - 1980's • Uranium SA - 2
Slide 14: Yallunda Geology
ASX:LML Yallunda Geology 14 • The Kalinjala Shear Zone is a deep, mantle-tapping structure that serves as a conduit for fluids carrying metals sourced from deep within the crust. • The uranium radiometric anomalies appear to coincide with the Miltalie Gneiss and the Moody Suite Granites. Archean – E
Slide 15: Yallunda U Radiometric Airborne 2011
ASX:LML Yallunda U Radiometric Airborne 2011 15 • 2011 airborne radiometric survey carried out by Eyre Iron Pty Ltd (data now owned by Lincoln) identified a 7km uranium trend south of the Carinya Prospect1. Survey specs: • 40m line spacing • 100m tie line spacing • This trend has yet to be tested an
Slide 16: Miltalie Gneiss Uranium Anomaly
ASX:LML Miltalie Gneiss Uranium Anomaly 16 Evidence of rivers leaching uranium from this radiometric anomaly, likely depositing it regionally. LML ASX 29 April 2011 Quarterly Activities Report. The pre- 2012 information was prepared and first disclosed under the Reprocessed Uranium Radiometric airbo
Slide 17: Uranium/Thorium Ratio
ASX:LML Uranium/Thorium Ratio 17 • A high U/Th ratio may indicate areas of potential uranium mineralisation. • This is because uranium can be mobilised and concentrated in certain geological settings, whereas thorium is generally more immobile. • Elevated U/Th ratios may highlight zones where uraniu
Slide 18: Yallunda Magnetics
ASX:LML Yallunda Magnetics 18 • The U radiometric trends appear to correlate with granites. • Uranium anomalies in the north coincide with Moody Suite granite intrusions. • Uranium anomalies in the south coincide with the Miltalie Gneiss. South Australian regional Total Magnetic Intensity Dataset pr
Slide 19: Yallunda Cadastral / Land Use
ASX:LML Yallunda Cadastral / Land Use 19 • Project area primarily consists of agricultural land. • Native Title land access agreement in place with the Barngarla Aboriginal Corporation. lincolnminerals.com.au October 2024
Slide 20: Yallunda - Next Steps
ASX:LML Yallunda - Next Steps 20 • Sampling program to take place in November 2024, focusing on the Larawag and Carinya targets. • 150 Samples • 100-200m spacing over high priority areas • Follow up AEM to define structures over the region to be completed 2025. • Post receipt of results, Lincoln ant
Slide 21: Eridani Project
ASX:LML 21 Eridani Project
Slide 22: Eridani Project Overview
ASX:LML Eridani Project Overview 22 • Located in the southwest portion of EL 5851 • Project site is a historic marble and talc quarry where visible carnotite mineralisation was discovered in 1944 along veins and faults1. • Potential for vein and unconformity style uranium mineralisation. • Project a
Slide 23: Eridani Cadastral / Land Use
ASX:LML Eridani Cadastral / Land Use 23 • Exploration Licence 5851 • Project area primarily consists of agricultural ground. • Native Title land access agreement in place with the Barngarla Aboriginal Corporation. lincolnminerals.com.au October 2024
Slide 24: Eridani Historic Drilling
ASX:LML Eridani Historic Drilling 24 • Majority of the drillholes in the project area were not assayed for uranium. • A small number of samples were taken by the South Australian Department of Energy and Mining (DEM) to extract the age of igneous intrusions in the region. • Drill logs make several m
Slide 25: Map of Historic Quarry with Uranium Mineralisation in Talc
ASX:LML Map of Historic Quarry with Uranium Mineralisation in Talc 25 Historic talc and marble quarry Mining Review, South Australia Department of Mines 1952, Issue 92: 18-25. lincolnminerals.com.au October 2024
Slide 26: Eridani Field Photos
ASX:LML Eridani Field Photos 26 • Sampling completed at marble and talc quarry and from the nearby ore dump in August. • Hand samples include marble, clays, and talc. • Sandy clay and talc samples show more intense yellow mineral build up along faces and along cracks and veins. lincolnminerals.com.a
Slide 27: Eridani Sampling
ASX:LML Eridani Sampling 27 • To confirm the historic carnotite mineralisation, pXRF Assay Table 8 outcrop samples were analysed using pXRF Representing best values from each sample. targeting the yellow mineralisation coating1. Each sample was scanned between 2-5 times, see appendix for full list o
Slide 28: Eridani Field Photos
ASX:LML Eridani Field Photos 28 pXRF results from scanning surficial mineralisation on rock chips (lab assays pending) include: • MQ12 – 9250ppm U, 8910ppm U, 8870ppm U, 7163ppm V • MQ10 – 6890ppm U, 4454ppm U, 5203ppm V • MQ11 – 6219ppm U, 3756ppm V • MQ08 – 2821ppm U, 2770ppm V lincolnminerals.com
Slide 29: Historic Uranium Occurrences
ASX:LML Historic Uranium Occurrences 29 • 1978 uranium exploration work carried out by Uranerz1 5km south of Eridani saw assays of 1,180 ppm U3O8 in weathered and calcreted BIFs • Their report documents several uranium finds, including uranium vein Carnotite mineralisation in historic copper working
Slide 30: Eridani Geology
ASX:LML Eridani Geology 30 Hutchison Group Metasediments Key Features: Lincoln Complex • Altered Donington and Hiltaba Suite granites along the large regional, mantle- tapping Kalinjala Shear Zone. • Large cross-cutting faults and splays providing fluid pathways through weathering uranium-rich grani
Slide 31: Eridani Gravity 1VD
ASX:LML Eridani Gravity 1VD 31 • Regional gravity data depicts the iron ore mineralisation seen within EL 5851. • The Hiltaba Suite granite intrusion is seen to the east of EL 5851 outlined by the regional gravity low. South Australian Regional Total Magnetic Intensity GDA2020, DEM SA, lincolnminera
Slide 32: Eridani - Next Steps
ASX:LML Eridani - Next Steps 32 • Second round of sampling and field mapping to take place November 2024. • Sampling will occur along regional fault lines. • Sampling and mapping program will focus on determining the extent of the outcropping carnotite mineralisation. • Re-assaying of historic Centr
Slide 33: Jungle Dam Project
ASX:LML 33 Jungle Dam Project
Slide 34: Jungle Dam Project Overview
ASX:LML Jungle Dam Project Overview 34 • In 2007, Lincoln discovered greenfield’s uranium mineralisation near Jungle Dam, approximately 45 km northeast of Kimba1. • Initial air core drilling yielded uranium assays as high as 600ppm U. • The mineralisation is associated with vein quartz, chalcedony,
Slide 35: Comparison to Samphire
ASX:LML Comparison to Samphire 35 Lincoln’s Jungle Dam mineralisation is an analogue to the nearby Samphire Project, which is a paleochannel hosted uranium project located in a similar geological setting ~80km from Jungle Dam. Samphire’s Blackbush Resource Lincoln’s Jungle Dam Project 12.4Mt @ 640pp
Slide 36: Jungle Dam Cadastral / Land Use
ASX:LML Jungle Dam Cadastral / Land Use 36 • Currently in 9B Agreement negotiations with the Gawler Ranges Aboriginal Corporation. • LML has a long-term good relationship with Uno Station landowner Angus McTaggart. October 2024 lincolnminerals.com.au
Slide 37: Jungle Dam Geology
ASX:LML Jungle Dam Geology 37 • The geological setting comprises primarily graphitic and sulphidic paragneiss, schist, quartzite, and leucogranite, all buried under more recent surficial cover sediments. Archean – Early Mesoproterozoic solid geology dataset sourced from October 2024 the DEM SA, last
Slide 38: Palaeochannel Drainage
ASX:LML Palaeochannel Drainage 38 • Recent work carried by the DEM SA utilises newly acquired ASTER satellite nighttime thermal imagery and AEM geophysical dataset to map out palaeodrainage and Cenozoic coastal barriers of South Australia. • Initial exploration activities suggest that palaeochannel
Slide 39: Jungle Dam Historic Drilling
ASX:LML Jungle Dam Historic Drilling 39 • Initial 2007 drilling proved uranium mineralisation at Jungle Dam, with best results of 570 ppm uranium in hole WCRC0081. • The 2007/2008 program faced technical challenges, including poor core recovery over key intervals and limiting structural data acquisi
Slide 40: Jungle Dam Uranium Intercepts
ASX:LML Jungle Dam Uranium Intercepts 40 • Exploration identified a main zone of mineralisation spanning about 250 m in width and extending WCAC042 WCAC039 (8m @ 1m @ WCAC004 400 m along strike1. WCAC024 (4m @ 0.02%U) 0.02%U 0.025%U) (4m @ • This zone is part of a larger area, 0.05%U) extending up t
Slide 41: Redox Boundaries
ASX:LML Redox Boundaries 41 Redox boundaries visible in chip trays from 2007 drilling. • Redox boundaries allow uranium to precipitate from fluids, leading to mineralisation. • They act as geochemical traps for uranium, often found at the boundary between oxidised and reduced materials. • Identifyin
Slide 42: Calcrete Sampling
ASX:LML Calcrete Sampling 42 • Only one location has been drill tested following calcrete sampling1. Potential exists on the eastern portion of the lease. • Vegetation sampling was carried out during 2007, with multiple locations showing anomalous uranium2. 1. LML ASX 25 October 2007, Quarterly Acti
Slide 43: Jungle Dam Gravity
ASX:LML Jungle Dam Gravity 43 • 250 x 250 gravity survey exists over main target area. • Gravity lows are being targeted in upcoming drilling campaign to confirm uranium mineralisation in • Survey carried out by IronClad in 20081 as part of interpreted paleochannel2. Hercules iron ore project north
Slide 44: Jungle Dam - Next Steps
ASX:LML Jungle Dam - Next Steps 44 Uranium intercepts appear to coincide with identified paleochannels delineated via gravity lows. Next steps include: • Step out drilling to define the extent of the mineralisation – Early 2025 • Drill test other identified gravity lows – Early 2025 • Perform a grav
Slide 45: Lincoln Uranium Portfolio Third-Party Funding Strategy
ASX:LML 45 Lincoln Uranium Portfolio Third-Party Funding Strategy
Slide 46: Shareholder Value Creation
ASX:LML Shareholder Value Creation 46 Lincoln aims to explore value accretion from its uranium assets to benefit shareholders • Lincoln’s primary focus remains its Kookaburra Graphite Project, which has Tier 1 potential and scale that Lincoln can execute • Lincoln’s uranium assets are among the most
Slide 47: Third-Party Funding Strategy
ASX:LML Third-Party Funding Strategy 47 • In recent months, Lincoln has received in-formal approaches regarding potential for investment in, partial divestment of, or outright sale of its uranium portfolio. • A Third-Party funding strategy aims to unlock the value which Lincoln believes resides in i
Slide 48: References
ASX:LML References 48 LML ASX 21 December 2007, Drilling results at Wilcherry. LML ASX 25 October 2007, Quarterly Activities Report. LML ASX 30 January 2008, Quarterly Activities Report. LML ASX 28 April 2008, Quarterly Activities Report. LML ASX 30 October 2008, Quarterly Activities Report. LML ASX
Slide 49: For Further Information
For Further Information: Jonathon Trewartha Chief Executive Officer Lincoln Minerals Limited Jonathon.trewartha@lincolnminerals.com.au 1300 137 116 Nathan Ryan Investor and Media Relations NWR Communications nathan.ryan@nwrcommunications.com.au +61 420 582 887 Community Enquiries Community@lincolnmi
Slide 50: Appendix
Appendix Lincoln Minerals
Slide 51: Eridani Rock Chip Samples
ASX:LML Eridani Rock Chip Samples 51 Sample pXRF1 data from the Eridani Project. Note that to minimize sampling bias, multiple readings have been recorded for each sample. Instrument Method Easting Northing Instrument Method Easting Northing Sample # Date Time Zone Units K V U Sample # Date Time Zon
Slide 52: Jungle Dam Drillholes
ASX:LML Jungle Dam Drillholes 52 DRILL DATE DRILL DATE HOLEID EAST NORTH RL EOH DATE END DIP AZI HOLEID EAST NORTH RL EOH DATE END DIP AZI TYPE START TYPE START WCAC001 AC 652903 6363603 222 79 16/10/07 16/10/07 -60 90 WCAC021 AC 651812 6363605 218 78 20/10/07 20/10/07 -60 90 WCAC002 AC 652853 63636
Slide 53: Jungle Dam Drillholes
ASX:LML Jungle Dam Drillholes 53 DRILL DRILL HOLEID EAST NORTH RL EOH DATE START DATE END DIP AZI HOLEID EAST NORTH RL EOH DATE START DATE END DIP AZI TYPE TYPE WCAC033 AC 651553 6363607 224 117 16/10/08 16/10/08 -60 90 WCAC056 AC 651201 6363506 237 117 21/10/08 21/10/08 -60 90 WCAC034 AC 651506 636