Wa1 Resources Ltd · ASX:WA1

Wa1 Resources — Corporate Update (May 2023)

14 slides from Wa1 Resources's corporate update, May 3, 2023

1. Slide 1: West Arunta Project Exploration Update – May 2023

   For personal use only WEST ARUNTA PROJECT EXPLORATION UPDATE – MAY 2023

2. Slide 2: Important Notices and Disclaimers

   Important Notices and Disclaimers Nature of Document: This presentation has been prepared and issued by Not financial product advice: Neither the Company nor any of its related WA1 Resources Ltd (WA1, the Company) to provide general information about bodies corporate is licensed to provide financial

3. Slide 3: Company Overview

   Company Overview For personal use only ASX CODE MARKET CAP1 CASH2 WA1 A$114M A$10M KEY PROJECT COMMODITY STATUS WEST ARUNTA PROJECT NIOBIUM DRILLING critical metal used in steel alloys 1. 49.8m shares on issue at closing price of $2.28 on 2 May 2023 3 2. As at 31 March 2023, Quarterly Activities and

4. Slide 4: West Arunta Project – Location & History

   The West Arunta Project – Location & History  The West Arunta Project is located in WA 1,300km by road from Port Hedland or 800km by For personal use only road from Alice Springs  Rio Tinto Exploration are currently active to the south as part of a JV with Tali Resources  WA1 IPO completed in Feb

5. Slide 5: Luni carbonatite

   West Arunta Project – Luni carbonatite  Carbonatites are defined by their composition being rich in carbonate minerals and often occur as plugs within intrusive complexes, or as dykes, sills, breccias or veins  Carbonatites may be mineralised with niobium, REE, phosphorus, tantalum and titanium am

6. Slide 6: Initial 2023 Luni results

   West Arunta Project- Initial 2023 Luni results1 Further high-grade niobium intersected from 200m spaced step-out drilling: For personal use only LURC23-026: 13m at 5.0% Nb2O5 within an overall interval of 31m at 3.5% Nb2O5 LURC23-033: 10m at 4.0% Nb2O5 within an overall interval from 39m of 24m at 2

7. Slide 7: Luni cross sections

   Luni cross sections1  Step-out drilling on 200m intervals  Significant high-grade niobium mineralisation remains open in all directions For personal use only  Mineralised zonation observed in LURC23-033:  24m at 2.4% TREO from 39m  10m at 795ppm tantalum (Ta2O5) from 42m  10m at 243ppm scandiu

8. Slide 8: Niobium – critical for a green future

   Niobium – critical for a green future Steel Alloying Battery Technology For personal use only • Established ferroniobium (FeNb) market • Niobium has demonstrated significant benefits accounts for 90% of all niobium consumption in Li-ion battery technology with: globally (FeNb~A$45,000/t1) • Reduce c

9. Slide 9: A strategic global asset

   West Arunta Project – A strategic global asset  Niobium is identified by the Australian Government and many other countries as a critical mineral due to supply concentration For personal use only  World is almost entirely reliant on supply from Brazil (>90%) with only three primary producers world

10. Slide 10: P2 & regional targets

    P2 & regional targets Pachpadra Project Area & Cross-section  First drill hole at the P2 Target discovered a mineralised carbonatite system For personal use only  End of hole returned the highest-grade (1m @ 1.72% Nb2O5) suggesting mineralisation may be open and have depth potential A  New geophy

11. Slide 11: Timeline of activities

    Timeline of West Arunta Project activities Admitted to ASX P2 Carbonatite Geophysical Drilling Surveys Commenced Field Activities Placement Diamond Rig Maiden Resource Commenced For personal use only Expected Estimate 2022 1H-2023 2H-2023 Luni Anomaly Luni Carbonatite 1st Assays Continuous TIMELINE

12. Slide 12: Key workstreams initiated

    Key West Arunta Project workstreams initiated Drilling in progress, targeting maiden resource estimate in 2H-2023 For personal use only Process test work to de-risk project development beyond exploration are in focus, mineralogical studies in progress Baseline studies have commenced, regional data a

13. Slide 13: Corporate Overview – Board & Capital Structure

    Corporate Overview Board & Management Gary Lethridge Non-Executive Chair Paul Savich Managing Director For personal use only Tom Lyons Executive Director - Technical Rhys Bradley Non-Executive Director & Co Sec BOARD & CAPITAL STRUCTURE Tom Hunter Corporate & Financial Controller Stephanie Wray Expl

14. Slide 14: WA1 Resources Ltd

    For personal use only WA1 Resources Ltd Lvl 2, 55 Carrington Street, Nedlands Western Australia 6009 Investors Media Paul Savich Michael Vaughan Managing Director Fivemark Partners E: psavich@wa1.com.au E: michael.vaughan@fivemark.com.au T: +61 8 6478 7866 T: +61 422 602 720

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