ASX:CAI Adjective (from the latin dictionary) Definitions: - PowerPoint PPT Presentation

ASX:CAI

Adjective (from the latin dictionary) Definitions: 1.having a warm climate/place 2.warm, hot 3.eager, rash, on the spot 4.fiery, lusty The worlds longest heatwave – 160 days at +100 o F PAGE 2 CORPORATE PRESENTATION JUNE 2019

Adjective (from the latin dictionary) Definitions: 1.having a warm climate/place 2.warm, hot 3.eager, rash, on the spot 4.fiery, lusty PAGE 3 CORPORATE PRESENTATION JUNE 2019

• Simple and compelling story • • Consolidation of Historic Goldfield Fully funded Pre-feasibility Study (PFS) commenced , completion due July 2019 • 1.25 Moz resource at 1.83 g/t Au • including 1.1Moz at 2.37g/t Planning to Develop in 2020 • • 795,000oz of Indicated Resources Significant exploration upside , new (64%) parallel shear discovered, regional drilling underway • 203% increase in resource since listing June 2017 (412,000oz) 4 PAGE 4 CORPORATE PRESENTATION JUNE 2019

EXECUTIVE MANAGEMENT FERNANDO DAVE REEVES PAUL BRENNAN JANE ALLEN MOUTINHO MANAGING DIRECTOR COO GEOLOGY MANAGER 30 years’ international PROJECT MANAGER 30 years’ mining 20 years’ mining 30 years’ international mining experience with experience in Australia, experience in Australia, experience with GRD Anglogold Ashanti, Africa and Europe. Africa and Europe. Most Minproc, Sheffield Resolute Mining, Avion Instrumental in the recently GM at Saracen’s Resources, Syrah Gold Corporation and progression of four mining CarasoueDam operation Resources, New Century GCM projects through feasibility Resources to project development BOARD MARK CONNELLY ADAM MIETHKE KEITH COUGHLAN NON-EXECUTIVE CHAIRMAN NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Over 30 years’ resource industry Over 15 years’ experience in exploration 30 years’ experience in stockbroking experience in CEO and Managing and mine geology, funds management and funds management on ASX, AIM Director roles across multiple and corporate advisory. Previous and TSX. Currently the MD of jurisdictions including Australia, West technical and corporate roles at Rio European Metals Holdings and Africa, North America and Europe. Tinto, Snowden, Regent Pacific Group recently retired as chairman of Talga CurrentlyNon-Executive Chairman at and Argonaut Resources West African Resources Ltd PAGE 5 CORPORATE PRESENTATION JUNE 2019

CAPITAL STRUCTURE WELL FUNDED 1,522 SHARES ON ISSUE • Cash reserves of $4.3m Million • $37.5 MARKET CAP Investment in Pacton Gold (TSX: PAC) valued at $2.2m Million 1 (undiluted at A$0.025) • 2.5c exercisable options to raise $2.2m due June 2019 $4.3 CASH STRONG CORPORATE MINING SUPPORT Million 2 (as at 31 Dec 2018) • $2.2 Keras Resources – London listed exploration company 5 LISTED INVESTMENTS Million • Alkane Resources – ASX listed Australian domiciled gold $31.6 ENTERPRISE VALUE producer with c.$72m in cash reserves 6 Million • Novo Resources – Canadian listed, well funded Pilbara Gold 249 OPTIONS explorer with nearby gold properties and JORC resources Million 3 (will raise $6.9m if exercised) PERFORMANCE 275 TIGHTLY HELD SHARE REGISTER Million 4 SHARES • Over 15% Tier 1 institutional ownership • Top 20 hold 70% KEY SHAREHOLDERS KERAS RESOURCES 6 30.5% (AIM:KRS) ALKANE RESOURCES 15.2% 1. Using share price of $0.25 as at 30 April 2019 (ASX:ALK) 2. $2.3m cash 30/4/19 plus $2m from Alkane Raise 3. 118m @ 2.5c, 50m @ 2.0c, 70m @ 3.5c and 16m @ 3.0c NOVO RESOURCES 3.8% 4. Performance Shares vest on completion of a positive PFS (TSX: NVO) 5. CAI board and management own 18 % of Keras 6. ALK cash balance as at 31 March 2019 PAGE 6 CORPORATE PRESENTATION JUNE 2019

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780km 2 under control, application or option • +200 historic mines located on tenements • Very limited previous exploration focused around the Klondyke workings • Majority of package not covered by any soil sampling or drilling PAGE 8 CORPORATE PRESENTATION JUNE 2019

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Never drilled before • +200 historic mines located on tenements • Very limited previous exploration focused around the Klondyke workings • Majority of package not covered by any soil sampling or drilling PAGE 12 CORPORATE PRESENTATION JUNE 2019

Cut-off Indicated Inferred Total Deposit Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Copenhagen 0.5 0.2 5.27 36,000 0.1 1.84 3,000 0.3 4.65 39,000 Coronation 0.5 - - - 0.5 2.19 34,000 0.5 2.19 34,000 Fieldings Gully 0.5 0.2 1.65 9,000 0.3 1.62 16,000 0.5 1.63 24,000 Total 0.4 3.70 45,000 0.9 1.96 53,000 1.3 2.53 98,000 PAGE 13 CORPORATE PRESENTATION JUNE 2019

MINING HYDROLOGICAL • • Pit water holes drilled 2km long single open pit • • Underground operation below pit Borefield to be drilled in April • Costings being finalised PROCESSING GEOTECHNICAL • • High recoveries – 96.7% All geotechnical drilling and analysis • complete Soft rock • Conventional crush, SAG, leach TAILINGS ENVIRONMENTAL • • All fieldwork to be complete in Thickening testwork and geotechnical April, submit permit applications in testing complete Q3 2019 • Valley fill tailings, stable and low capital PAGE 14 CORPORATE PRESENTATION JUNE 2019

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2 HOURS DRIVE FROM PORT MINING REGISTRAR LOCATED HEDLAND ON SEALED ROAD IN TOWN ( AUSTRALIA’S LARGEST PORT) LOCATED 20KM SOUTH EAST OF MARBLE BAR SEALED AIRSTRIP • All weather road from Marble Bar to leases IN MARBLE BAR • Access to trucked LNG from NW Shelf • 100 rooms available in town • All weather airstrip Negotiating the purchase of a 2 nd hand camp • in the Pilbara 16 PAGE 16 CORPORATE PRESENTATION JUNE 2019

✓ ✓ PAGE 17 CORPORATE PRESENTATION JUNE 2019

UNDERVALUED COMPARED TO DEVELOPMENT PEERS 1 192 Completed Feasibility Study 200 Prior to Feasibility Study 175 150 EV/Resource (A$/oz) 117 125 100 Average = $75/oz 78 75 58 58 50 32 31 31 27 25 0 BGL VAN CMM EAR BRB DEG KIN GMD Key Project Bellevue Trident Karlawinda Yandal Bombora Pilbara Gold Project Leonora Ulysses Warrawoona Resource Resource Resource Stage Financing Feasibility PFS Commenced PFS Commenced Feasibility PFS Commenced Development Development Development Mkt Cap (A$m) 323 101 87 86 65 40 30 27 38 45 2 33 2 EV (A$m) 294 100 87 82 63 26 23 Resource (koz) 1,530 854 1,114 1,405 1,084 1,402 782 760 1,248 Grade (g/t) 11.8 3.5 1.1 2.1 1.4 1.6 1.4 3.3 1.8 Open-pit & Open-pit & Mine Type Underground Underground Open-pit Open-pit Open-pit Underground Open-pit Underground Underground Potential Potential 1. Price data sourced from Bloomberg as at 28 May 2019 2. De Grey EV includes additional A$9.7m acquisition costs payable 24 July 2019 3. Calidus EV doesn’t account for listed investments of c.$2.2m PAGE 18 CORPORATE PRESENTATION JUNE 2019

• • Located in close proximity to high Critical mass for a standalone development achieved quality infrastructure and operating mines • High grade open pit outcropping • Greenfields exploration underway resource and has significant potential • Excellent metallurgy • Uniquely positioned as one of few • Experienced mine development remaining high grade open-pit gold team development companies on the ASX • Fully funded through to Pre-feasibility Study completion 19 PAGE 19 CORPORATE PRESENTATION JUNE 2019