Corporate Presentation Mining Capital Conference, London 29 - - PowerPoint PPT Presentation

Corporate Presentation Mining Capital Conference, London 29 November 2018

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DISCLAIMER

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This presentation is made on behalf of Alba Mineral Resources PLC (“the Company”). This presentation does not constitute an admission document relating to the Company nor does it constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation of any such offer to purchase or subscribe for, any securities in the Company nor shall this presentation or any part of it, or the fact of its distribution form the basis of or be relied on in connection with, any contract therefor. No reliance may be placed by any person for any purpose whatsoever on the information or opinions contained in this presentation or on the completeness, accuracy or fairness

• thereof. No representation or warranty, express or implied, is given by or on behalf of the Company, its shareholders, directors, officers or

employees or any other person as to the accuracy or completeness of the information or opinions contained in this presentation, and no liability is accepted for any such information or opinions (including in the case of negligence, but excluding any liability for fraud). This presentation does not constitute a recommendation regarding any decision to sell or buy securities in the Company. If any person is in doubt as to the contents of this presentation, or wishes to obtain advice as to the investment merits of the Company’s securities, he should seek independent advice from a person who is an authorised financial services provider. All statements (other than statements of historical fact) included within this presentation, including without limitation, the strategies, plans, expectations and objectives of the Company, and the markets and economies in which it operates, are forward-looking statements. A variety of factors could cause the actual results and expectation to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. These statements are illustrative only and do not amount to any representation that they will be achieved as they involved risks and uncertainties and relate to events and depend upon circumstances which may or may not occur in the future and there can be no guarantee of future performance. Without prejudice to the generality of the foregoing, forward-looking statements in this presentation may include (but are not limited to) reserve and resource estimates and targets and production rates which involve an assessment, based on certain estimates and assumptions, by the companies in which the Company has invested or the operators of projects in which the Company has invested (together “investee companies”). There are numerous uncertainties inherent in estimating quantities of reserves and resources and in projecting future rates and volumes of production and the timing and quantum of development expenditures. The total amount, rate or timing of actual future production may vary from reserve, resource and production estimates, projections and targets. Those forward- looking statements represent the internal projections, estimates or beliefs of those investee companies and their advisers and have not been independently verified by the Company. This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, any jurisdiction where such distribution or offer is unlawful. The distribution of this presentation in some jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.

COMPETENT PERSONS/FOOTNOTES

2 Competent Person’s Statement (Mining) The information contained in this presentation in relation to the Company’s mining projects has been reviewed and approved by Howard Baker, Technical Director of Alba Mineral Resources Plc. Mr Baker is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (Membership Number 224239) and a Competent Person as defined by the rules of International Reporting Codes that are aligned with CRIRSCO. Mr Baker has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration targets, Exploration Results, Mineral Resources and Ore Reserves’, also known as the JORC Code. The JORC code is a national reporting organisation that is aligned with CRIRSCO. Competent Person’s Statement (Oil & Gas) The technical information contained in this presentation in relation to the Company’s oil & gas investments has been reviewed and approved by Feroz Sultan (B.Sc (Hons) Geology, M.Sc, Petroleum and Structural Geology, Karachi and M.Sc Petroleum Geology, Imperial College London), a petroleum geologist with over 45 years' experience in the management, exploration, development and production of oil and gas. Footnotes to Oil & Gas Slides (Slides 25 to 30) Footnote 1 Estimated OIP hydrocarbon volumes should not be construed as recoverable resources or reserves and also should not be construed in any way to reflect potential producibility of hydrocarbons from the formations evaluated. Footnote 2 There can be no guarantee that forecast, targeted or calculated rates of production or oil recoveries will be

• achieved. Actual rates of production and recoveries will depend upon actual reservoir performance over time.

Footnote 3 Forecast potential HH-1 vertical rate per preliminary analysis by HHDL’s consultants Xodus Group ("Xodus") of flow and pressure data indicating that, subject to successful further HH-1 Portland vertical well optimisation, the well is capable of achieving a forecast initial 24/7 pumped rate of an estimated 362 barrels of oil ("bopd").

OUR STRATEGY

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❑Diversification: mining assets and oil & gas investments ❑Production: projects with serious production potential ❑ Stability: low-risk, natural resources-friendly jurisdictions

Market AIM Share Price 0.35p* Symbol ALBA Market Cap £11.4mil**

*12 Nov 2018 **Includes placing shares due for admission on 26 Nov 2018

A portfolio of strategic assets and investments in stable, low-risk jurisdictions to create a compelling investment

• pportunity

WHY ALBA?

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In the mining sector, Alba has identified and secured:

Majority stakes in high-grade projects: ❑Amitsoq: exceptionally high grade (+28% TGC) ❑Clogau: high/bonanza grade producer (10s-100s oz/t gold) ❑Thule Black Sands: high-grade ilmenite (up to 14.9%) Brownfield sites with considerable exploration upside: ❑Amitsoq: previously producing mine plus new discovery ❑Clogau: previous producer within unexplored gold belt Strategic positions in highly prospective regions: ❑Limerick: in centre of major zinc province ❑Inglefield: identified copper porphyry potential ❑Thule Black Sands: foothold in emerging ilmenite province

WHY ALBA?

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In the oil & gas sector, Alba has built significant minority positions in key strategic UK oil assets ❑ 2nd largest holder in Operator of Horse Hill Oil Discovery ❑ Direct licence holder in the Brockham Oil Field Alba’s investors thereby have exposure to: ❑High quality strategic mining assets with serious production potential ❑High quality strategic oil assets in the fast-developing UK

• nshore oil sector – near-term production

ALBA’S BOARD OF DIRECTORS

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❑ Geologist and mining engineer with over 40 years’ experience

George Frangeskides Executive Chairman

❑ Over 30 years' experience in international broking and investment banking

Manuel Lamboley Non-Executive Director Mike Nott Non-Executive Director

❑ Over 25 years’ experience in natural resources, corporate advisory & legal sectors ❑ Extensive network of contacts across the mineral exploration and investment sectors

Experienced Board and management team with strong track records in both the mining and oil & gas sectors

ALBA’S MANAGEMENT & TECHNICAL TEAM

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Howard Baker Technical Director (Mining)

❑ Geologist with over 20 years’ experience ❑ Previously worked for Rio Tinto, BHP Billiton, Iluka Resources, WMC and Anaconda Nickel ❑ Chartered Accountant with over 10 years’ experience in Industry ❑ Previously worked at Jaguar Land Rover, CBRE, and Anglo American (Tarmac)

Sarah Potter Head of Finance Feroz Sultan Technical Director (Oil & Gas)

❑ Petroleum geologist with over 40 years of diverse experience ❑ Has managed both onshore and offshore oil and gas field developments

Sue Corrigan Technical Adviser (Oil & Gas)

❑ Geologist and Geoscientist with 40 years' industry experience ❑ Six years at Tullow Oil plc, also worked for Shell and Amoco

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ALBA’S OPERATIONS

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Horse Hill Brockham Clogau: Gold Thule: Ilmenite Amitsoq: Graphite Inglefield: Polymetallic Melville Bay: Iron Ore Limerick: Base Metals

Greenland

Mining Oil & Gas

Our principal operations span the UK, Ireland and Greenland

CLOGAU GOLD PROJECT

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❑ Historic Clogau-St David’s gold mine produced 80,000 oz (known) ❑Excellent potential for unworked veins ❑Bonanza grades (10’s to 100’s oz/t Au) ❑Over 300 known gold occurrences covering most of Dolgellau Gold Belt ❑Welsh gold attracts significant premium ❑Unique connection to UK Royal family 90% owner of Clogau Project, including Clogau-St David’s gold mine

Mining

CLOGAU: MINE REDEVELOPMENT

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❑ Free gold located in quartz veining ❑ Control survey network and scanning commenced to enable modern mapping and 3D geological modelling ❑ Baseline environmental studies underway

Cross-section of Clogau mine

Alba’s twin objectives: To re-open the historic, high-grade Clogau St David’s Gold Mine…

Mining

CLOGAU: 2018 REGIONAL EXPLORATION

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❑First systematic regional exploration campaign in DGB ❑Complete exploration confirms: ❑Gold anomalies across full strike length of mine area ❑New gold targets outside mine area ❑Ongoing work: ❑Detailed analysis of geochemical results ❑Project-specific geochemical model ❑Soil sampling across regional gold targets

Mining

…at the same time making a concerted push into the regional exploration of the Dolgellau Gold Belt (“DGB”)

CLOGAU: 2018 EXPLORATION RESULTS

12 Magnetic Surveying Results (Total Magnetic Intensity) Soil Sampling Results

❑Dashed red area (left) merits further exploration ❑Higher gold values in areas with fewer mine workings ❑Magnetic survey delineates extent

• f formation and

potential gold bearing formations

Mining

LIMERICK BASE METALS

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100%

• wned

Limerick Project, located within major zinc-lead district

❑ Irish Ore Field: major source of zinc production since 1960s ❑ Some

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Europe’s largest zinc projects - Navan (Tara), zinc-lead mine (Boliden), Pallas Green (Glencore), Lisheen (Vedanta), Galmoy mine (Lundin Mining) ❑ Alba’s Project surrounded by active exploration companies

Alba’s licence shown above (red)

Mining

LIMERICK DRILL TARGETS

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❑ 5 historic diamond drill holes: under-explored ❑ Infill microgravity & geochemical soil sampling completed Q4 2016 ❑ New drill targets (shown in red) defined

• utside

historic drill locations (green dots)

Mining

SIGNIFICANT GREENLAND MINING PORTFOLIO

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Thule: Ilmenite (TiO2) High-grade deposit in new ilmenite province Amitsoq: Graphite Former high-grade graphite mine Inglefield: Polymetallic Numerous targets in critical resources Melville Bay: Iron Ore Existing JORC resource

A strong portfolio of Greenlandic mining assets in a range of high-value commodities

Mining

GREENLAND: OVERVIEW

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❑Autonomous country with self-rule since 1979 ❑Supportive authorities committed to resource extraction ❑Advanced mining projects including rare earths, zinc-lead, ilmenite, anorthosite, gold and rubies

Alba Field Programme 2016

A mining-friendly jurisdiction with a large number of advanced mining projects

Mining

THULE BLACK SANDS (TBS)

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❑ Mineral sands rich in ilmenite, primary source of titanium dioxide ❑ THM content 46.7% av. (in-situ ilmenite content 10%) ❑ 2017/18 field programmes: drilling, bulk sampling, environmental surveying ❑ Airport and deep water harbour, local calm, sheltered bays on licence ❑ Close to Dundas Project (96Mt @ 6.9% ilmenite)

Other Uses Inks Fibres Rubber Food Cosmetics Pharmaceuticals Titanium Used as an alloy in Aerospace Military Industrial Pigments Principal feedstock for pigment production for: Paints Coatings Plastics

“Global TiO2 Market expected to reach $28.5 billion by 2025”

Grand View Research Nov 2017

Alba Licences 2017/29 (384km²) and 2017/39 (158km²)

Why Titanium dioxide?

High-grade ilmenite on the coastline of north-west Greenland

Mining 17

TBS: INFRASTRUCTURE

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❑ Deep-water port ❑ International airport operated by US Air Force ❑ Qaanaaq domestic airport to north ❑ Multiple calm, sheltered bays on licence ❑ Possible suitable infrastructure locations

Sheltered bays identified on licence (above) Thule Air Base Qaanaaq Airport Qaanaaq: Population >600 Mining

Existing local infrastructure to support exploration and exploitation

Alba licence shown as red polygon (above)

TBS: 2017 FIELD WORK

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❑ Extensive sampling: all samples ilmenite- bearing ❑ Aerial photography: digital terrain model ❑ Extensive areas of sedimentary deposition

Alba’s Exploration Licence 2017/29 (384 km²)

Composite ID THM % Ilmenite % of THM In-situ Ilmenite % 1 34.2 16.6 5.7 2 54.0 24.3 13.1 3 43.7 20.2 8.8 4 42.8 18.7 8.0 5 48.7 15.7 7.6 6 51.3 29.0 14.9 7 48.9 19.5 9.5 Weighted Average 46.7 20.9 10.0

Raised Beach Terrace s

❑ Testwork: high- grade THM and in-situ ilmenite content (below left)

Mining

TBS: 2018 FIELD WORK

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❑Extensive mapping and drilling ❑Refined zones of interest: 10km strike length ❑3 tonnes of bulk samples for met. test work ❑Independent Competent Person site visit ❑Environmental baseline studies

High-Grade Raised Terrace Mineralisation

Raised Beach Terraces Drilling locations (shaded rectangles) Active beach & raised terraces (left); bulk sampling (right) Mining

AMITSOQ: HIGH-GRADE GRAPHITE

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❑ Former Amitsoq graphite mine: up to ~28% TGC ❑ New mainland discovery (Kalaaq): ~25% TGC ❑ Test work: marketable grade concentrate (~97%) ❑ Existing infrastructure, ice-free waters ❑ Drill locations determined, drill pads constructed

Lithium-ion batteries Critical resource for battery metals sector Major shift towards Electric Vehicles driving demand Traditional uses Steel manufacture Refractory bricks Brake linings Fire retardants Plastic reinforcement Modern uses Fuel cells Graphene Nuclear reactors Aluminium anodes

“Global graphite market expected to reach $18 billion by 2020”

Why Graphite? EU and USA have named graphite a mineral in critical supply

An exceptionally high-grade graphite deposit and former mine on the tip of southern Greenland

(Emerald Insight) Mining 21

AMITSOQ: FUTURE PLANS

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❑ Structural and Resource drilling ❑ Conceptual geological model, grade-tonnage estimate ❑ Scoping level Mining Study & Technical Economic Model ❑ Underground mine scanning

Kalaaq Amitsoq Conceptual Interpretation of Kalaaq graphite layers, based on structural mapping, to aid drill planning Conceptual Interpretation of Amitsoq graphite layers, based on structural mapping, to aid drill planning

Mining

INGLEFIELD: POLYMETALLIC POTENTIAL

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❑ Extensive historic exploration ❑ Numerous targets in high- value commodities: cobalt, copper, gold, vanadium, nickel ❑ Potential for copper-zinc volcanogenic massive sulphide (VMS) deposits

High-priority targets at Inglefield Land

❑ 2018 maiden field programme: ❑ Assemblage akin to porphyry copper style deposits ❑ Gold, copper, silver, molybdenum

Copper mineralisation, Kap Aggaziz, 2018

Significant multi-element potential in minerals-rich region

Mining

INGLEFIELD: POLYMETALLIC POTENTIAL

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Targeting large-scale, porphyry copper/IOCG style deposits

Mining

❑ Kap Agassiz/Bear Island: 0.65 g/t gold, 1.65% copper, 18.6 g/t silver ❑ Four Finger: 0.36 g/t gold, 0.18% copper, 13.35 g/t silver, 0.11% moly

HORSE HILL OIL PROJECT

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Second largest shareholder in Operator Horse Hill Developments Limited (“HHDL”), with an effective 11.765% project interest ❑ Well drilled (2014) and flow tested (2016) ❑ Extended Well Test (“EWT”) underway ❑ Single HH-1 well “sees” connected Portland oil in place (“OIP”) of approx. 7-11 million barrels¹ ❑ Portland reservoir declared commercially viable

Oil & Gas

Horse Hill Licences, PEDLs 137 & 246 (yellow)

❑ Kimmeridge Limestone 3 (“KL3”) EWT: av. daily rate: 342 bopd²

HORSE HILL ACCUMULATION

26 Oil & Gas Oil & Gas

❑ Extends over 2000 acres ❑ Well defined by historic seismic lines ❑ Two discoveries: ❑ Collendean Farm-1 (Esso, 1964) ❑ Horse Hill-1 (HHDL, 2014) ❑ Portland Sandstone Estimated P50 STOIP: 32 MMSTB (Xodus CPR, Feb 2017)¹ ❑ Kimmeridge Shale: Unconventional STOIP for Limestones and Shales estimated at 10 Billion Barrels (Schlumberger, Aug 2015)¹

Portland Sandstone Structure Map (Xodus, 2017)

HORSE HILL: PORTLAND EWT RESULTS

6 Oil & Gas

❑Portland declared commercially viable ❑Portland’s first new horizontal production well, HH- 2, planned to spud in early 2019 ❑HH-2 horizontal well targeted sustainable daily Portland production rate 2-3 times forecast potential HH-1 vertical well rate of 362 bopd³ ❑Outline production scoping report submitted - development of up to 6 wells, max. daily rate around 3,500 bopd²

615m (Portland) 2,704 m total well depth 840m (KL4) 900m (KL3)

HH-1

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0m (surface)

HORSE HILL: KIMMERIDGE LIMESTONES EWT

6 Oil & Gas

❑KL3 produced at an initial rate of 771 bopd, with

• max. half hourly rate of 902 bopd²

❑ Average daily rate over full test period: 342 bopd² ❑ Pressure data from KL3 and KL4 indicates part of a single accumulation ❑KL4: flowed at 901 bopd² over 4-hour period in 2016 ❑ results of KL4 EWT awaited

615m (Portland) 2,704 m total well depth 840m (KL4) 900m (KL3)

HH-1

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0m (surface)

BROCKHAM OIL FIELD

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Five per cent owner of previously producing Brockham oil field

❑ Located north of Horse Hill, in production until 2016 ❑ New well drilled in Jan 2017 to evaluate extension of Horse Hill Kimmeridge reservoirs into Brockham ❑ Electric logs indicate similar reservoir properties to Horse Hill Kimmeridge section ❑ OGA and planning approvals in place to begin production from the Kimmeridge layers ❑ Initial test production expected from a 200 metre naturally fractured section

Weald Basin, Surrey

Oil & Gas

BROCKHAM OIL FIELD

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Preliminary results from Brockham X4Z well, drilled in Q1 2017, confirmed similar reservoir properties to Horse Hill ❑ A thick 385m TVD gross Kimmeridge shale with limestone intervals section ❑ 3 limestone intervals ❑ Multiple fractured sections in both limestones and shales

Oil & Gas Logging Results BRX4Z Kimmeridge (Source: Angus Energy, March 2017)

IN SUMMARY

Clogau Quartz with Visible Gold

❑ Mining Assets ❑ Clogau: High-grade gold mine ❑ TBS: High-grade ilmenite ❑ Amitsoq: High-grade graphite ❑ Inglefield: High-value metals ❑ Limerick: World-class ore field ❑ Oil Investments ❑ Horse Hill: Successful EWTs ❑ Brockham: Proven oil field Targeting strategic, high-value assets with short to medium- term production potential in low-risk jurisdictions

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CONTACTS

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Alba Mineral Resources plc George Frangeskides Executive Chairman Tel: 0207 264 4366 Email: info@albamineralresources.com www.albamineralresources.com @AlbaMinerals Yellow Jersey PR Tim Thompson Tel: 0203 735 8825 Email: alba@yellowjerseypr.com First Equity Limited Jason Robertson Tel: 020 7374 2212 Email: jasonrobertson@firstequitylimited.com