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Corporate Presentation London South East Investor Briefing l 14 May 2019 DIS ISCLAIMER This presentation is made on behalf of Alba Mineral Resources PLC (the Company) . This presentation does not constitute an admission document relating


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l

Corporate Presentation London South East Investor Briefing 14 May 2019

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SLIDE 2

DIS ISCLAIMER

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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,

  • fficers 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

  • bjectives 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

  • nly 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.

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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 26 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").

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ALBA SNAPSHOT

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* At 10/05/2019

Diversification

▪ Mining Assets and Oil & Gas Investments

Stability

▪ Operating only in Low-Risk, Resources-Friendly Jurisdictions

Serious Production Potential

▪ Thule Black Sands: Ilmenite: High-Grade ✓ ▪ Amitsoq Graphite: High-Grade ✓ ▪ Inglefield Polymetallic: High-Value Metals ✓ ▪ Clogau Gold: High-Grade Mine ✓ ▪ Limerick Base Metals: World-Class Ore Field ✓ ▪ Brockham: Near-Term Oil Production ✓ ▪ Horse Hill: Near-Term Oil Production ✓

Market AIM Share Price 0.24p* Symbol ALBA Market Cap £7.8mil

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ALBA’S OPERATIONS

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TBS: Ilmenite Inglefield: Polymetallic Melville Bay: Iron Ore Amitsoq: Graphite

Greenland

Greenland

Horse Hill: Oil Brockham Oil

UK & Ireland

Our principal operations span the UK, Ireland and Greenland

Limerick: Base Metals Clogau: Gold

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SLIDE 6

CLOGAU GOLD PROJECT

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▪ Clogau-St David’s gold mine: UK’s largest gold producer ▪ High grade pockets: bonanza grades running from 10’s to 100’s oz/t Au ▪ Over 300 known gold occurrences covering most

  • f Dolgellau Gold Belt

▪ Welsh gold attracts significant premium over spot prices ▪ Unique connection to UK Royal family

Majority of Dolgellau Gold Belt under licence, including Clogau gold mine

Mining

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CLOGAU: MIN INE REDEVELOPMENT

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▪ Free gold located in quartz veining ▪ Work underway: ▪ Baseline environmental studies ✓ ▪ Mine rehabilitation of Tyn Y Cornel Adit followed by Llechfraith Adit ✓ ▪ Pre-Application Enquiries commenced with planning authority ✓

Cross-section of Clogau mine

Objective (1): to re-open the high-grade Clogau-St David’s Gold Mine

Mining

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CLOGAU: REGIONAL EXPLORATION

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2018 field work: ▪ Gold anomalies found across full strike length of mine area ▪ New gold targets identified outside mine area 2019 regional exploration: ▪ Ambitious soil sampling programme to cover ~50% of 30km Dolgellau Gold Belt ▪ Objective: discover new gold deposit(s) and/or extensions to existing mine

Mining

Objective (2): to discover new gold deposits within Dolgellau Gold Belt

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CLOGAU: : 2018 EXPLORATION RESULTS

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

Left: Higher gold values located away from existing mine workings

Right: Magnetic survey defines extent of potential gold-bearing formations

Mining

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CLOGAU: 2019 REGIO IONAL EXPLORATION

9 Mining

▪ 2019 soil sampling area (in yellow) ▪ 2018 soil sampling area

  • ver existing mine (red

lines) ▪ 2019 programme aims to cover ~50% of the ~30 km Dolgellau Gold Belt

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CLOGAU: 2019 REGIO IONAL EXPLORATION

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Mining

Results now obtained from 525 samples from

  • ngoing 1,200 sample

programme Multiple gold-in-soil anomalies identified Away from existing mine area (not associated with historic mine workings) Averaging 0.006-0.17 ppm (at a 0.005 ppm cut-off), including one sample at 0.65 ppm (0.65 g/t) Two of new anomalies well above average gold-in soil grades for Clogau-St David’s Anomalies identified across multiple geological units outside of traditional Clogau Shale target

CLOGAU: 2019 REGIO IONAL EXPLORATION

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CLOGAU: 2019 REGIO IONAL EXPLORATION

11 Mining

Preliminary target map Yellow areas: new anomalies (no historic mining) Red areas: anomalies over historic mining areas

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CLOGAU: 2019 GOLD-IN IN-SOIL RE RESULTS

Mining

Soil sampling results set against the geology map and historic Clogau St David’s mine workings (dark blue).

CLOGAU: 2019 REGIO IONAL EXPLORATION

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SLIDE 14

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LIM IMERICK BASE METALS

100% owned and located within major zinc-lead district

Irish Ore Field: home to some

  • f Europe’s largest zinc

projects ▪ Tara (Boliden) ▪ Pallas Green (Glencore) ▪ Lisheen (Vedanta) ▪ Galmoy (Lundin) Alba’s Limerick Project is surrounded by active exploration companies

Alba’s licence area shown above (in red)

Mining

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LIM IMERICK DRIL ILL TARGETS

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Alba’s Project considered to be significantly under-explored New drill targets defined (red) – drilling expected Q2 2019

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GREENLAND: : OVERVIEW

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

Mining

▪ Supportive authorities committed to resource extraction ▪ Established local mining economy: logistics, training, services ▪ World-class deposits

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THULE BLACK SANDS (T (TBS)

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▪ Mineral sands rich in ilmenite, primary source

  • f titanium dioxide

▪ Very high THM content: 46.7% av. ▪ Very high in-situ ilmenite content: 10% av. ▪ Close to Dundas Project (101Mt @ 7.1% ilmenite)

Alba Licence 2017/29

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

Mining

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THULE BLACK SANDS (T (TBS)

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Titanium Dioxide (TiO2)

Mining

“Global TiO2 Market expected to reach $28.5 billion by 2025” Grand View Research Nov 2017

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

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TBS: : IN INFRASTRUCTURE

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▪ Deep-water port ▪ Thule Air Base ▪ Qaanaaq Domestic Airport ▪ Multiple sheltered bays for infrastructure locations

Mining

Existing local infrastructure to support exploration and exploitation

TBS location shown by blue circle

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TBS: : 2018 FIE IELD WORK

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▪ Extensive mapping and drilling ▪ 10km total mineralised strike length ▪ 3 tonnes of bulk samples taken ▪ Independent Competent Person site visit ▪ First year’s environmental baseline studies

High-Grade Raised Terrace Mineralisation

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

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AMIT ITSOQ: HIG IGH-GRADE GRAPHITE

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An exceptionally high-grade graphite deposit and former mine

Mining

Former Amitsoq graphite mine: up to ~28% TGC New mainland discovery (Kalaaq): ~25% TGC

  • Met. testwork:

marketable grade concentrate (~97%) Existing infrastructure, ice- free waters Drill-ready

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SLIDE 22

AMIT ITSOQ: HIG IGH-GRADE GRAPHITE

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“Global graphite market expected to reach $18 billion by 2020” (Emerald Insight) Graphite: Identified by the EU and USA as a mineral in critical supply

Mining

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

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AMIT ITSOQ: FUTURE PLANS

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▪ Structural and Resource drilling ▪ Scoping level Mining Study & Technical Economic Model ▪ Underground mine scanning

Kalaaq Amitsoq Conceptual Interpretation of Kalaaq Graphite Conceptual Interpretation of Amitsoq Graphite, to aid drill planning

Mining

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IN INGLEFIELD: POLYMETALLIC POTENTIA IAL

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▪ Extensive historic exploration ▪ High-value commodities: cobalt, copper, gold, vanadium, nickel ▪ Copper-zinc volcanogenic massive sulphide (VMS) potential ▪ 2018 fieldwork: copper porphyry potential

High-priority targets at Inglefield Land Copper mineralisation, Kap Aggaziz, 2018

Significant multi-element potential in minerals-rich region

Mining

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IN INGLEFIELD: POLYMETALLIC POTENTIA IAL

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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 ▪ 2019 TECT/XPotential Report: ▪ Four Finger target most prospective for IOCG deposit potential ▪ South-west “Zn-Co” target most prospective for Carbonate-hosted Zn-Pb deposit potential ▪ Extensive 2019 field programme in planning phase

Inglefield licenses shown in blue

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UK ONSHORE OIL IL IN INVESTMENTS

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11.765% Project Interest in Horse Hill Oil Discovery (PEDL 137 & 246) ▪ Horse Hill Well (HH-1) drilled in 2014 and flow tested in 2016 ▪ Extended Well Test (“EWT”) ongoing since July 2018 ▪ Single HH-1 well “sees” connected Portland oil in place (“OIP”) of ~7-11 million barrels¹

Oil & Gas

Horse Hill Licences, PEDLs 137 & 246 (yellow)

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HORSE HIL ILL OIL IL ACCUMULATION

26 Oil & Gas Oil & Gas

▪ Extends over 2000 acres ▪ 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: ▪ Estimated Unconventional STOIP for Limestones and Shales: 10 Billion Barrels (Schlumberger, Aug 2015)¹

Portland Sandstone Structure Map (Xodus, 2017)

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SLIDE 28

HORSE HIL ILL: EWT AND FORWARD PLANS

Oil & Gas

Portland declared commercially viable (at 18/10/18) ▪ Continuous Portland oil flow: 220 bopd (at 11/04/19)² ▪ Total EWT production figures (at 11/04/19) ▪ 40,000 bbl aggregate Kimmeridge/Portland production ▪ 186 tankers of crude exported for sale ▪ Kimmeridge KL3/KL4: one single oil pool of 358 ft in vertical extent ▪ Commingled KL3/KL4 test production commenced 4/12/18 with sustained daily rate in early Jan 2019 of 303 bopd av.² ▪ EWTs ongoing until expiry of current permits in spring 2019 ▪ Regulatory applications submitted for permanent oil production ▪ 7- well development, targeting max. daily rate of 3,500 bopd² ▪ Targeting transition from EWT production into permanent production during winter 2019

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

HH-1

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0m (surface)

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BROCKHAM OIL IL FIE IELD

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5% 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 targeting a 200 metre naturally fractured section commenced Jan 2019, with water influx inhibiting oil flow ▪ Operator recently reported water zone had been isolated but without bringing oil to surface (as at 11/04/19)

Weald Basin, Surrey

Oil & Gas

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SLIDE 30

ALBA VALUE DRIVERS

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Alba projects host one JORC-compliant Mineral Resource Estimate (MRE) with a further two further MREs targeted by end 2019 Three Alba projects have had historic production; targeting restart of production and near-term revenues A 30km stretch of the Dolgellau Gold Belt is under exclusive licence to Alba; provides a unique exploration

  • pportunity

Near-term growth is to be driven by drilling key targets Alba has a strong management team with over 170 years of combined industry expertise

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SLIDE 31

LOOKING AHEAD

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fff

Q2 2019 Limerick Drilling TBS MRE Assessment Clogau Mine Rehabilitation Clogau Phase 1 Regional Exploration Greenland Fieldwork Planning Q3 2019 Amitsoq Drilling Clogau Phase 1 Mine Exploration Clogau Phase 2 Regional Exploration Inglefield/TBS Field Programme

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SLIDE 32

ALBA’S BOARD AND MANAGEMENT

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George Frangeskides Executive Chairman Over 25 years’ experience in natural resources, corporate advisory & legal sectors Extensive network of contacts across the mineral exploration and investment sectors globally Mike Nott Non-Executive Director Geologist and mining engineer with over 40 years’ experience Manuel Lamboley Non-Executive Director Over 30 years' experience in international broking and investment banking Howard Baker Technical Director (Mining) Geologist with over 20 years’ experience. Previously worked for Rio Tinto, BHP Billiton, Iluka Resources, WMC and Anaconda Nickel 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 Sarah Potter Head of Finance Chartered Accountant with over 10 years’ experience in the industry. Previously worked at Jaguar Land Rover, CBRE and Anglo American (Tarmac)

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CONTACT DETAILS

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Alba Mineral Resources plc George Frangeskides, Executive Chairman Tel: +44 (0) 20 3907 4297 Email: info@albamineralresources.com www.albamineralresources.com @AlbaMinerals Yellow Jersey PR Tim Thompson Tel: +44 (0)203 735 8825 Email: alba@yellowjerseypr.com First Equity Limited Jason Robertson Tel: +44 (0)20 7374 2212 Email: jasonrobertson@firstequitylimited.com