APOLLO OCTOBER 2018 M I N E R A L S L I M I T E D COUFL FLENS - PowerPoint PPT Presentation

DEVELOPING THE COUFLENS PROJECT IN FRANCE APOLLO OCTOBER 2018 M I N E R A L S L I M I T E D COUFL FLENS PROJECT The opportunity to reopen the worlds highest grade tungsten mine And Explore a world class gold exploration target Within


  2. COUFL FLENS PROJECT The opportunity to reopen the world’s highest grade tungsten mine And Explore a world class gold exploration target Within one tenement

  3. INVESTMENT S INVE TMENT SUMMAR UMMARY Y Gol Gold v values es p provide e Proven mi mine High grade mi mine with potential po tial up upside side ex existing infrastructure re 930kt ore @ 1.5% % 11,500t W 11,500t WO 3 in in c con onc. c. High grade gold recorded in 2.0 to 2.5% WO 3 Veronique zone & recent field in the mine’s latter years Mine operated for 16 years campaigns (up to 24.5 g/t) Extensive database Str Strong ng pipe pipeline line Significan Signific ant t explo ploratio tion n Proven Bo Pr en Boar ard d of c of catalysts & & po potential tial & ma manageme ment ne news s flo flow w Deposit open down plunge Strong track record Well funded for aggressive In-country experience & Numerous regional targets work programs specific expertise

  4. PROVEN MA PR VEN MANA NAGEMENT EMENT T TEAM WIT M WITH S H STRONG NG G GOLD EX LD EXPERIENCE PERIENCE BOARD OF F DIRECTORS Ian Middlema Ian mas ↘ Chairman Hugo Schuma mann Hugo Schuma mann Robert Beh Ro Behets Jon Evans Michel Bonnema maison ↘ Executive Director Robert Behets Ro Over a decade of experience in the Over 28 years experience as French geologist with extensive Geologist with over 25 years mining development of mining and energy environmental risk consultant globally, experience in Europe, Africa and industry experience; Strong combination of ↘ Executive Director projects globally across a range of including 18 years working in France. South America. 35 years working technical, commercial and managerial commodities. Most recently as CCO of Holds a Masters in Engineering from history with the French geological skills. Founding MD of Mantra Resources, Michel Bonnema maison Berkeley Energia in Spain where he Ecole des Mines in Paris and survey (BRGM) including Deputy Head ex Acting MD/NED of Papillon Resources oversaw the successful US$120m specialises in site investigations, of Minerals Resources Division. Widely and WMC executive. ↘ Executive Director financing package for the mine remediation and environmental recognised as one of the preeminent construction. MBA from INSEAD, CFA auditing. Previously worked at WSP authorities on gold deposits in France. Charterholder. Energy and Environment, with Mark P Mark Pear earce responsibility for environmental auditing and site surveys in France. ↘ Non Executive Director Aja jay Kejr jriwal CAPITAL STRUCTURE Market C Mark t Cap (a ap (at A t A$0.20) $0.20) A$32.9m ↘ Non Executive Director Shar Shares s on n Issue ssue 167.5m Cash P Ca Pos osition on (a (at 30 J 30 June 17) e 17) A$5.5m Unlisted O Unlis ed Optio tions & V ns & Vendo endor R r Righ ights ts 75.1m Majo jor shareholders BlackRock, Old Mutual

  5. THE HIGH GRAD THE HIGH GRADE S SAL ALAU M MINE INE MINE PRODUCED: § 930,000t ore at 1.5% WO3 for 11,500t W 11,500t WO3 3 in concentrate § Grade of up to 2.5% % WO3 in the its latter years Significant go gold and co copper values recorded in high grade Veronique zone which is largely untapped and open at depth

  6. SIGNIFI FICANT TIME AND COST SAVINGS Ex Extensiv ensive da e database o abase of his f historic rical al in informa rmatio tion a n available ailable Strong Str ng regio gional nal Excellen Ex ellent gr t ground und Proven mi mining ü All assays data and logs from over 650 historical drill holes infr in fras astruc tructur ture conditions co re region ü Production records and principal mining and processing methods ü Historical processing flow sheet to produce tungsten concentrate ü Mine level plans and geological mapping for 24km of underground development

  7. EX EXCELLENT CELLENT UNDER UNDERGROUND C UND CONDIT NDITIO IONS NS Mine access at level 1230 (Historical Photo) Mine development drive at level 1230 (Current)

  8. HIGH IMPACT EXPL HIGH IMP T EXPLORA ORATION PO TION POTENTIAL TENTIAL Nea Near M Mine & R e & Reg egion onal T Targets Salau Salau Min Mine e High grade Veronique zone open at depth. High ~75% of granodiorite contact untested. > 5km strike of prospective corridor for tungsten-copper-gold and grade gold values recorded¹ gold only 2 NU NUMER EROU OUS U UNTE NTESTED T TED TAR ARGET GETS ON FL FLANKS OF F GRANODIORITE 3 > 5K 5KM S M STRIK RIKE E PR PROSPE SPECTIVE IVE MIN MINE A E AREA TU TUNGS NGSTE TEN-C N-COP OPPER-GOL R-GOLD HIGH GRADE HIGH GRADE CORRIDOR CO VERONIQU QUE 1 OPEN DO OP DOWN WN PLUNG PL UNGE E

  9. GOL GOLD P POTE TENTIAL NTIAL ONL ONLY RE Y RECE CENTL NTLY INTE Y INTERP RPRE RETE TED High grade gold occurrences (grades up to 33.9 g 33.9 g/t) identified during regional field campaigns Gold only discovered very late in the Salau mine life (and never recovered in milling) High grade gold observed in • Lower section of Salau mine • Tailings • Numerous surface occurrences Gold is associated with hydrothermal fluids focussed by “Veronique” type faults These fault structures could provide the fluid pathways and focusing mechanisms required for development of shear hosted gold deposits

  10. WELL FU FUNDED FOR UPCOMING WORK STREAMS Focussed on two parallel work programs: assessing the potential to reactivate the Salau mine; and conducting exploration programs for gold and tungsten near the mine and within the project area Recently raised A$6 million from leading European Institutions including BlackRock, the world’s largest mining fund SALAU MINE SA NEAR M NE AR MINE & RE INE & REGIONAL T GIONAL TAR ARGET GETS ü Review and digitise historical mine data ü Review and digitise regional exploration data ü Generate 3D model ü Identify high priority targets for further exploration ü Access existing mine and stoping areas ü Generate new exploration targets ü Design drill programs to confirm known zones of ü Detailed geochemistry, geophysics and surface mineralisation and test for extensions sampling programs q Mine area and old tailings risk assessments q Airborne geophysics q Map & sample tungsten-copper-gold mineralisation q Evaluate gold potential exposed in mined areas q Drill testing of exploration targets q UG drilling to Resource estimation and reporting in accordance with JORC Code

  11. WORLD’S LARGEST OPEN PIT TALC OPERATION WITHIN 50KM OF F COUFL FLENS ü Trimouns, the wo world’s largest talc operat ation, is located less than 50km from Couflens ü Formerly owned by Rio Tinto and now owned by Imerys, a world leader in the industrial mi minerals sector ü Open pit operation that has been in in pr produc ductio tion n for r over er 100 100 year ears, currently pr produc ducing ing 400,000 400,000 tonne nnes of talc per annum ü Key source of local employment, ge generating 310 perma manent jo jobs and 110 seasonal jo jobs ü Proven mo model for operating a successful resources project in France and more specifically in the Ariège region

  12. STRATEGIC SUPPLIER OF F A CRITICAL EUR EUROPE PEAN RA N RAW MA W MATERIA ERIAL EUROPEAN END USERS ARE SEEKING SECURITY OF F SUPPLY OU OUTSIDE IDE CHINA CHINA ü The European Union recognises tungsten as one of Europe’s most critical raw materials ü It is extremely hard and has a very high melting point, making it a highly strategic metal used in military, aerospace, automotive, oil and gas and other heavy industries ü Recent trend for European and US end users to sign long term off- take contracts for supply

  13. CHINA CONTROLS 80% % OF F THE WORLD’S TUNGSTEN PRODUCTION 1 % UK 1 % Austria 1 % Spain 80 % 80 China 1 % Portugal 7 % Vietnam 4 % Russia 1 % Bolivia


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