Tungsten Mining Nl · ASX:TGN

Tungsten Mining Nl — Shareholder Meeting (November 2015)

20 slides from Tungsten Mining Nl's shareholder meeting presentation, Nov 23, 2015

1. Slide 1: AGM Presentation

   AGM Presentation Perth, 23 November 2015 Craig Ferrier, Chief Executive Officer ABN 67 152 084 403 Suite 3 23 Belgravia Street

2. Slide 2: Disclaimer

   Disclaimer ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Phone +61 (0) 8 9477 3031 This presentation includes certain statements that may be deemed ‘forward-looking statements’. All statements, other Fax +61 (0) 8 9475 0847 info@tungstenmining.com than sta

3. Slide 3: Tungsten - a unique metal

   Tungsten - a unique metal ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Tungsten a metal of unique Belmont WA 6984 characteristics Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com § Highest melting point § Highest tensile

4. Slide 4: Tungsten uses

   Tungsten uses ABN 67 152 084 403 • Tungsten plays a critical role in industrial Suite 3 23 Belgravia Street Belmont WA 6104 engineering and extractive industries reliant PO Box 588 on high speed, wear resistant cutting tools Belmont WA 6984 and wear plates. Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 94

5. Slide 5: Tungsten – a strategic element

   Tungsten – a strategic element ABN 67 152 084 403 Suite 3 • Global tungsten (W) production is estimated to be circa 90,000 tpa 23 Belgravia Street Belmont WA 6104 from both primary (mine production) and secondary (recycled) PO Box 588 Belmont WA 6984 sources. Phone +61 (0) 8 9477 3031 Fax +61 (0) 8

6. Slide 6: Market low presents opportunity

   Market low presents opportunity ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 • APT price is used as a reference price PO Box 588 for concentrate and quoted in $US/ Belmont WA 6984 Phone +61 (0) 8 9477 3031 MTU Fax +61 (0) 8 9475 0847 info@tungstenmining.com • Recent APT price decli

7. Slide 7: Advancing the Kilba project

   Advancing the Kilba project ABN 67 152 084 403 Suite 3 23 Belgravia Street • Kilba hosts a Resource estimate1 (JORC Code 2012) of 5.0 million tonnes at Belmont WA 6104 PO Box 588 0.24% WO3 based on a cut-off grade of 0.10% WO3 (or 7.2 million tonnes at Belmont WA 6984 0.19% based on a 0.05% COG) Pho

8. Slide 8: A transformational deal

   A transformational deal ABN 67 152 084 403 Suite 3 • TGN has a binding agreement to purchase 23 Belgravia Street Belmont WA 6104 the Australian tungsten assets of Hazelwood PO Box 588 Belmont WA 6984 Resources Ltd (HAZ) – namely the Mt Phone +61 (0) 8 9477 3031 Mulgine and Big Hill Projects. Fax +61

9. Slide 9: Delivering scale and leverage

   Delivering scale and leverage ABN 67 152 084 403 TGN will control an aggregate tungsten resource inventory1 (at a cut-off grade Suite 3 23 Belgravia Street Belmont WA 6104 of 0.05%) WO3 of 141 Million tonnes at 0.14% WO3, representing 20 million PO Box 588 MTU (metric tonne units) of WO3, providing

10. Slide 10: …and at a low cost

    …and at a low cost ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Mineral Resource Multiple based on Market Phone +61 (0) 8 9477 3031 Capitalisation and Contained WO3 Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com Market Cap per Comp

11. Slide 11: Factors for success

    Factors for success ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 • Large scale deposits supporting PO Box 588 Belmont WA 6984 robust project economics Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 • Existing infrastructure driving low info@tungstenmining.com www.tungstenmining.

12. Slide 12: Mt Mulgine – Summary Plan

    Mt Mulgine – Summary Plan ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com

13. Slide 13: Located in a mining province

    Located in a mining province ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com Open pit mining (Bobby McGee pit) within Trench resource area by Minjar Gold, the ow

14. Slide 14: Mt Mulgine - Trench Deposit Cross Section

    Mt Mulgine - Trench Deposit Cross Section ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 Southeast Northwest PO Box 588 Belmont WA 6984 Phone +61 (0) 8 9477 3031 65m at 0.11%Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com 88m at 0.11% 149m at 116m at 0.16% 0.12

15. Slide 15: Big Hill Deposit - Cross Section

    Big Hill Deposit - Cross Section ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 51m at 0.21% PO Box 588 Belmont WA 6984 67m at 0.17% Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com 41m at 0.19% 27m at 0.37% 50m at 0.09% 154m at 0.12% 3

16. Slide 16: Moving forward

    Moving forward ABN 67 152 084 403 Suite 3 23 Belgravia Street Strategy Belmont WA 6104 PO Box 588 Belmont WA 6984 § Consolidate all geological, • Due diligence condition satisfied Phone +61 (0) 8 9477 3031 metallurgical and engineering study and formal transaction documents Fax +61 (0) 8 9475 0847

17. Slide 17: Summary

    Summary ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Management þ Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 info@tungstenmining.com þ www.tungstenmining.com Scale Value þ Acquisition cost þ Low capex þ Jurisdiction þ Risk þ Significance þ

18. Slide 18: Thank you

    Thank you ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Phone +61 (0) 8 9477 3031 Primary contacts: Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com Craig Ferrier Chief Executive Officer t: +618 9486 8492 e: craig.ferrier@tungstenmini

19. Slide 19: Annexure A

    Annexure A TGN and Hazelwood Resources Mineral Resources at 0.05% WO3 cut-off grade ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 PO Box 588 Belmont WA 6984 Phone +61 (0) 8 9477 3031 Fax +61 (0) 8 9475 0847 info@tungstenmining.com www.tungstenmining.com Where JORC resources are show

20. Slide 20: Annexure A continued

    Annexure A continued TGN and Hazelwood Resources Mineral Resources at 0.05% WO3 cut-off grade ABN 67 152 084 403 Suite 3 23 Belgravia Street Belmont WA 6104 Where the Company references the Kilba JORC PO Box 588 2012 Resource and ASX Announcements made Belmont WA 6984 on 30 January 2015 and 26 Octob

Tungsten Mining NL — Shareholder Meeting (November 2015) on 6ix