Vault Minerals Limited · ASX:VAU

Vault Minerals — Red 5 — Investor Presentation (November 2017)

24 slides from Vault Minerals's investor presentation, Oct 30, 2017

1. Slide 1: Production, cash-flow and growth: Darlot, King of the Hills and Beyond

   For personal use only Investor Presentation, November 2017 Mark Williams, Managing Director Production, cash-flow and growth: Darlot, 1 King of the Hills and Beyond ASX Code: RED

2. Slide 2: Competent Person's Statement & Disclaimer

   Competent Person’s Statement & Disclaimer Competent Person’s Statement for Siana JORC 2012 Mineral Resource and Ore Reserve The information in this presentation that relates to Mineral Resources for the Siana Underground is extracted from the report titled Siana Underground Mineral Resource dated 23

3. Slide 3: Red 5: A New Platform for Growth

   Red 5: A New Platform for Growth  Recently completed acquisition of two advanced gold assets in For personal use only WA’s Eastern Goldfields with 626,000oz Mineral Resource inventory¹:  Darlot Gold Mine – acquired from Gold Fields Limited  King of the Hills Gold Project – acquired from Saracen M

4. Slide 4: Red 5 Corporate Overview

   Red 5 Corporate Overview ASX code RED Directors and Management For personal use only Share price (as at 27 October 2017) A$0.049 Kevin Dundo – Chairman Issued shares 1,240.7M Mark Williams – Managing Director Market capitalisation (at A$0.049) A$60.8M Ian Macpherson – Non-Executive Director Cash and

5. Slide 5: Consolidation Strategy in WA's Eastern Goldfields

   Consolidation Strategy in WA’s Eastern Goldfields  100% ownership of operating Darlot Gold Mine, located in the For personal use only heart of the prolific Leonora-Leinster mineral province:  CY2016 produced 66koz from 454kt¹ and CY2017 production to 30 September of 39koz from 338kt²  High-qualit

6. Slide 6: Darlot: Assets and Infrastructure

   Darlot: Assets and Infrastructure  Operating gold mine located ~900km NE of Perth For personal use only  Rich goldfield with production of 2.7Moz over a 28-year operating history¹  Historical production averaging 96kozpa since 1989  Fully operational 0.83Mtpa gold processing plant (refurbished i

7. Slide 7: Stage 1: Darlot + Hills

   Stage 1: Darlot + King of the Hills  Darlot mill has operating capacity of: For personal use only  830,000tpa – fresh ore¹  Can be upgraded to 1,100,000tpa capacity for a relatively small spend¹  Currently under-utilised  ~94% recoveries²  Opportunity to reduce cost per tonne at Darlot by:  M

8. Slide 8: Darlot: Immediate Operating Strategy

   Darlot: Immediate Operating Strategy  All existing staff and contractors retained For personal use only  Targeting opportunities to increase the recovery of existing resources to extend the mine life  Combine extended Darlot operation with ore from King of the Hills to return processing plant to

9. Slide 9: Darlot: First Gold Pour under Red Ownership

   Darlot: First Gold Pour under Red 5 Ownership First Red 5 gold pour at Darlot completed 20 October 2017, delivering 2,445oz (~$4M value) For personal use only 9

10. Slide 10: Darlot: Open Pit Upside

    Darlot: Open Pit Upside  SRK Consulting engaged to For personal use only conduct high-level pit optimisations on a series of small historical pre-JORC 2012 resources near Darlot  Aim to identify and rank targets for drilling to expand potential open pit resource base  Near-surface targets already

11. Slide 11: Darlot: Underground Upside

    Darlot: Underground Upside  Gold Fields invested in exploration to For personal use only rebuild the production pipeline, improving confidence in the Lords South Lower and CDA Oval orebodies, as well as a number of smaller orebodies  Potential to lower mining costs by extracting ore from the upper

12. Slide 12: Darlot: Exploration Upside

    Darlot: Exploration Upside  Total land-holding of approximately 13,900ha with tenements in good For personal use only standing  Minimal third-party royalties  Numerous ore grade intercepts recorded over multiple prospect areas  Good potential both to extend existing zones and discover new deposi

13. Slide 13: Darlot: 3D Seismic

    Darlot: 3D Seismic  Darlot is a large, structurally controlled mineralised ore system which For personal use only has opportunities for additional resource extensions  High-resolution 3D seismic survey carried out over the Darlot mining facilities commenced in November 2016  ~75 cubic kilometres

14. Slide 14: Darlot: 3D Seismic "Arm Chair View"

    Darlot: 3D Seismic “Arm Chair View” For personal use only 3D seismic cube showing Darlot mine workings in blue The seismic image is coloured by seismic amplitude or strength of the seismic reflection from sub-surface geological units and/or structures The brightly coloured areas show strongest refle

15. Slide 15: Hills: First Consolidation Asset

    King of the Hills: First Consolidation Asset  Historical gold project located ~80km south of Darlot and ~28km For personal use only north of Leonora – previously known as Tarmoola  Historical production by Mt Edon Gold Mines (and others) of 1.6Moz from the open pit (28.4Mt @ 1.7g/t – closed in 200

16. Slide 16: Hills: Immediate Operating Strategy

    King of the Hills: Immediate Operating Strategy  Underground mining contractor Pit n Portal Group engaged to review For personal use only underground mine plan and continue dewatering  Mining to commence as soon as permitting is in place and mining contractor has been appointed – first ore expecte

17. Slide 17: Hills: Underground Mining

    King of the Hills: Underground Mining  Underground Indicated and For personal use only Inferred Mineral Resource of 2.71Mt @ 4.6g/t Au for 402,000oz of contained gold  New UG mine design developed by Saracen after 6-month trial mining campaign Existing KOTH North Mine  Envisions two mining areas

18. Slide 18: Hills: Exploration Potential

    King of the Hills: Exploration Potential  Major shear-hosted gold For personal use only system  King of the Hills underground remains open in all directions  Recent strong drilling results demonstrate exploration upside for the mine area  Multiple lodes extending over 1.95km and open at depth, p

19. Slide 19: Stage 2: Beyond Darlot and Hills

    Stage 2: Beyond Darlot and King of the Hills  Aim to increase Reserves via regional exploration For personal use only  Assess other ‘bolt-on’ neighbouring opportunities  Commanding 25,700ha footprint in the highly-endowed Leonora-Leinster gold district  Multiple undeveloped gold deposits within

20. Slide 20: Summary: Key Investment Takeaways

    Summary: Key Investment Takeaways  Red 5 is well underway with a new growth strategy underpinned by a portfolio of high-quality gold assets in WA’s Eastern Goldfields For personal use only  The combination of Darlot and King of the Hills provides:  A commanding 25,700ha footprint in the highly-en

21. Slide 21: Experienced Operators with a Strong Track Record

    Experienced Operators with a Strong Track Record Kevin Dundo – Chairman For personal use only Extensive experience as a director of ASX, TSX and AIM listed gold mining companies as well as experience in mining and financial services. Lawyer by profession specialising in the commercial and corporate

22. Slide 22: Philippines Gold Operations – Current Status

    Philippines Gold Operations – Current Status  Mining suspended at Siana Gold Project in April 2017 in response to For personal use only regulatory delay  New Philippines Secretary of Department of Environment and Natural Resources (DENR) appointed in May 2017. Appointment confirmed by Commission o

23. Slide 23: Mt Cattlin Royalty

    Mt Cattlin Royalty  Red 5 owns the right to receive a royalty of For personal use only A$1.50 per tonne of ore processed from the Mt Cattlin mine in WA  Mt Cattlin mine re-commenced processing operations in 2016  Galaxy Resources has announced that it will ramp- up production at Mt Cattlin to a t

24. Slide 24: Thank-you

    For personal use only Thank-you 24 ASX Code: RED

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