Investor Presentation - East Coast Mining Conference

Disclaimer and Important Information

This is not a disclosure document. Any material used in this presentation is a summary of selected data, and any investor in the Company should refer to all Company ASX releases and statutory reports before considering to invest in the Company.

Any forward-looking information in this presentation has been prepared on the basis of a number of assumptions that may proven to be correct. Neither the Company, nor its officers, employees and advisors make or give any representation, warranty or guarantee in relation to this presentation.

The Company reserves the right to update, amend or supplement the Information in this presentation at any time in its absolute discretion without incurring any obligation to do so.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information, including risks associated with investments in private and publicly listed companies such as the Company; risks associated with general economic conditions; the risk that further funding may be required but unavailable for the ongoing development of the Company's projects or future acquisitions; changes in government regulations, policies or legislation; unforeseen expenses; fluctuations in commodity prices; fluctuation in exchange rates; litigation risk; restrictions on the repatriation of earnings by the Company's subsidiaries; the inherent risks and dangers of mining exploration and operations in general; risk of continued negative operating cashflow; the possibility that required permits may not be obtained; environmental risks; uncertainty in the estimation of mineral resources and mineral reserves; general risks associated with the feasibility and development of each of the Company's projects; foreign investment risks in Australia; changes in laws or regulations; future actions by government; breach of any of the contracts through which the Company holds property rights; defects in or challenges to the Company's property interests; uninsured hazards; disruptions to the Company's supplies or service providers; reliance on key personnel and retention of key employees.

Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management of the Company made in light of their experience and their perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable.

Assumptions have been made regarding, among other things: the Company's ability to carry on its future exploration, development and production activities, the timely receipt of required approvals, the price of gold, copper and base metals, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NO LIABILITY/SUMMARY INFORMATION

The Company has prepared the Presentation Materials based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in the Presentation Materials. To the maximum extent permitted by law, the Company, its related bodies corporate (as that term is defined in the Corporations Act 2001 (Commonwealth of Australia)) and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the Presentation Materials or its contents or otherwise arising in connection with it.

Exploration results detailed in this presentation have previously been reported to the ASX or in the independent geologist report contained in the Prospectus lodged on 18 May 2017. References to metal endowments are current to January 2017. Endowment = current resource plus production. Coordinate system on maps is MGA94 Zone 55 unless otherwise stated.

COMPETENT PERSONS STATEMENT

Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Adam McKinnon who is a Member of the AusIMM. Dr McKinnon is Managing Director and a full-time employee of Magmatic Resources Limited, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Dr McKinnon consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

Additionally, Dr McKinnon confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

IMPORTANT NOTICE

This presentation does not constitute an offer to acquire or sell or a solicitation of an offer to sell or purchase any securities in any jurisdiction. In particular, this presentation does not constitute an offer, solicitation or sale to any U.S. person or in the United States or any state or jurisdiction in which such an offer, tender offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and neither such securities nor any interest or participation therein may not be offered, or sold, pledged or otherwise transferred, directly or indirectly, in the United States or to any U.S. person absent registration or an available exemption from, or a transaction not subject to, registration under the United States Securities Act of 1933.

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Investment Highlights

>80Moz Gold (Au) and >13Mt Copper (Cu) regional endowment*

Cadia Valley Mines - Au-Cu Porphyry Cluster / Cadia East Mine (Newcrest)Northparkes Mines - Cu-Au Porphyry Cluster / (CMOC/Sumitomo)

Cowal Gold Mine / Corridor - Epithermal Au + Porphyry Cluster (Evolution)Tomingley Gold Mine / Corridor - Orogenic Au (Alkane)

Recent major discoveries

DRILLING NORTH OF AUSTRALIA'S LARGEST GOLD-COPPER

PRODUCER - CADIA EAST*

Drill testing multiple Au-Cu targets at Wellington North Project

Essentially surrounding Alkane's Boda Au-Cu discovery ASX:ALK

•  Cluster of targets within 10km of Boda

•  230,000oz at 26g/t produced from the historic Bodangora Goldfield+

Lady Ilse, Boda-equivalent early-stage exploration results

•  41m @ 0.25g/t Au, 0.11% Cu, 13m @ 0.72g/t Au, 0.36% Cu+

Rose Hill, incl. 71m @ 0.30g/t Au, 0.42% Cu, 57ppm Mo from surface+

•  Equivalent intercept grades to Cadia East mine resource++

Additional targets include: Ninety, Rockleigh, Rosehill, Rosehill North,

Roselawn Mayhurst, Mayhurst East, Glenrowan, Morley

DRILLING NORTH OF NORTHPARKES COPPER-GOLD MINING DISTRICT

Compelling Northparkes Cu-Au lookalike at Myall Project

Drilling downdip from significant existing intercepts, akin to Northparkes Mine

Resource grade++,

•  70m @ 0.54% Cu, 0.15g/t Au from 141m and 62m @ 0.27% Cu, 0.13g/t Au from 260m (Kingswood)+

•  381.9m @ 0.20% Cu from 150m to EOH (Kingswood) +

Multiple targets point to typical porphyry cluster setting

OROGENIC GOLD TARGETS ALONG STRIKE FROM TOMINGLEY GOLD MINE AND RECENT DISCOVERIES

Two priority orogenic gold targets within Parkes Fault Zone

Parkes Fault Zone - Gold Discovery Hotspot

Stockmans and MacGregors near surface orogenic gold targets, 25km south from TGP, Roswell, San Antonio discoveries ASX:ALK

•  16m @ 1.22g/t Au from 13m (MacGregors)+

•  12m @ 1.42g/t Au from 7m (Stockmans)+

EAST LACHLAN AU-CU PORPHYRY MINING

Cadia Valley and Northparkes comprise clusters of multiple low-grade deposits

Bulk cave mining technology makes low-grade, high-volume deposits valuable

* Total metal endowment (Phillips 2017) # Cadia East - 2,900Mt @ 0.35g/t Au, 0.26% Cu, 64ppm Mo (Total Resource, Newcrest 2020) + Details and references in following slides ++ Northparkes 605Mt @ 0.55% Cu and 0.19g/t Au (Total Resources, CMOC 2018)

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Corporate Snapshot

CAPITAL STRUCTURE1

Shares on issue

Share price 29 March 2022

Market Capitalisation

Cash1

Options on Issue - unlisted

Exercise price $0.0722 to $0.5772 expiry Oct 2022 to Sept 2023

254,486,798

$0.082 $20.6m $6.86m

41,500,000

1Cash at Bank as at 31 December 2021

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East Lachlan - A World Class Gold-Copper Province

Home to Australia's largest gold producer

•  World class gold-copper terrain, range of mineralisation styles

•  >80Moz Gold (Au) and >13Mt Copper (Cu) regional endowment

•  Major gold-copper mines:

  •  Cadia East Gold-Copper Mine (Newcrest):

    ‐ World's largest alkalic gold/copper porphyry complex ‐ Australia's top gold producer (Newcrest 2020)

  •  Northparkes Copper-Gold Mine (China Moly/Sumitomo)

  •  Cowal Gold Mine (Evolution)

  •  Tomingley Gold Mine (Alkane)

•  Major discoveries:

  •  McPhillamys Advanced Gold Development (2.3Moz, ASX:RRL)

  •  Tomingley Discoveries - Roswell (662koz, ALK ASX 4 November 2020, San Antonio (406koz, ALK ASX 16 February 2021)

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