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CORPORATE PRESENTATION JUNE 2017 DEVELOPMENT + EXPLORATION IN THE EMERGING LITHIUM PROVINCE OF SOUTHERN MALI IMPORTANT NOTICE This presentation has been prepared by Kodal Minerals plc ( Kodal Minerals or the Company) and does not


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SLIDE 1

CORPORATE PRESENTATION

JUNE 2017

DEVELOPMENT + EXPLORATION IN THE EMERGING LITHIUM PROVINCE OF SOUTHERN MALI

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SLIDE 2

IMPORTANT NOTICE

This presentation has been prepared by Kodal Minerals plc (“Kodal Minerals” or the “Company”) and does not constitute an offer or invitation for the sale or purchase of any securities, nor does it, nor does it purport to, set out or refer to all or any of the information an investor might require or expect in making a decision as to whether or not to deal in shares in the Company. This presentation does not constitute and is not a prospectus or listing particulars (under either the Prospectus Regulations 2005 (as amended), the Financial Services and Markets Act 2000 (“FSMA”) or the Prospectus Rules of the Financial Conduct Authority) nor does it comprise an AIM admission document for purposes of the AIM Rules for Companies published by the London Stock Exchange plc and should not be construed as such. No representation or warranty or other assurance, express or implied, is made by or on behalf of the Company or any of its respective directors, officers, employees, advisers or any other persons as to the fairness, accuracy or completeness of the information or estimates or opinions or other statements about the future prospects of the Company or any of its respective businesses contained in or referred to in the presentation given in connection therewith and no responsibility, liability or duty of care whatsoever is accepted by any such person in relation to any such information, projection, forecast, opinion, estimate or statement. This presentation has not been approved as a financial promotion for the purposes of section 21 of FSMA or otherwise. Accordingly, it is being delivered for information purposes only to a very limited number of persons and companies who are persons who have professional experience in matters relating to investments and who fall within the category of person set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or are high net worth companies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive

  • it. Any other person who receives this presentation should not rely or act upon it. By accepting this presentation and not immediately returning it, the recipient represents and warrants that they are a

person who falls within the above description of persons entitled to receive the presentation. This presentation may not be (i) taken or transmitted into the United States of America, (ii) distributed, directly or indirectly, in the United States of America or to any US person (within the meaning of regulations made under the Securities Act 1933, as amended), (iii) taken or transmitted into or distributed in Canada, Australia, the Republic of Ireland or the Republic of South Africa or to any resident thereof, or (iv) taken or transmitted into or distributed in Japan or to any resident thereof. Any failure to comply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this document in other jurisdictions may be restricted by law and the persons into whose possession this document comes should inform themselves about, and

  • bserve, any such restrictions.

This presentation must not be copied, reproduced, published, distributed, disclosed or passed to any other person at any time without the prior written consent the Company. SP Angel Corporate Finance LLP (the "Broker") is acting in the provision of corporate finance business to the Company, within the meaning of the Financial Conduct Authority’s Conduct of Business Sourcebook (“COBS”), and no-one else in connection with the proposals contained in this presentation. Accordingly, recipients should note that the Broker is neither advising nor treating as a client any

  • ther person and will not be responsible to anyone other than the Company for providing the protections afforded to clients of the Broker under the COBS nor for providing advice in relation to the

proposals contained in this presentation. Please note that the information in this presentation has yet to be announced or otherwise made public and as such constitutes relevant information for the purposes of section 118 of FSMA and non- public price sensitive information for the purposes of the Criminal Justice Act 1993. You should not therefore deal in any way in the securities of the Company until after the formal release of an announcement by the Company as to do so may result in civil and/or criminal liability. By accepting a copy of the presentation you agree to be bound by the foregoing provisions. Forward-looking Statements This presentation may contain forward-looking statements. These statements relate to the future prospects, developments and business strategies of the Company and its subsidiaries (the “Group”). Forward-looking statements are identified by the use of such terms as “believe”, “could”, “envisage”, “estimate”, “potential”, “intend”, “may”, “plan”, “will” or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements contained in the presentation are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialises, or if underlying assumptions prove incorrect, the Group’s actual results may vary materially from those expected, estimated or projected. Given these risks and uncertainties, potential investors should not place any reliance on forward-looking

  • statements. These forward-looking statements speak only as at the date of the presentation.

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

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SLIDE 3

KODAL SNAPSHOT

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

W e s t A f r i c a f o c u s e d

S i g n i f i c a n t f o o t p r i n t i n a e m e r g i n g l i t h i u m r e g i o n o f M a l i a n d a d d i t i o n a l g o l d e x p l o r a t i o n p r o p e r t i e s i n M a l i & C o t e D ’ I v o i r e

A c c e l e r a t e d d e v e l o p m e n t

A d e f i n e d d e v e l o p m e n t p l a n w h i c h h a s a l r e a d y d e l i v e r e d h i g h l y p r o m i s i n g r e s u l t s f r o m f i r s t y e a r o f e x p l o r a t i o n

N e w s f l o w

R e g u l a r n e w s f l o w f r o m w o r k p r o g r a m m e s o n m u l t i p l e p r o j e c t s i n 2 0 1 7

P r o v e n t e a m

A c t i v e & e x p e r i e n c e d m a n a g e m e n t t e a m w i t h a b i l i t y t o e n s u r e c o n t i n u e d s u c c e s s f u l i m p l e m e n t a t i o n o f s t r a t e g y

S t r a t e g i c I n v e s t o r & O f f t a k e

S e c u r e d £ 4 . 8 m i l l i o n s t r a t e g i c i n v e s t m e n t a n d o f f t a k e f r o m h i g h l y s u p p o r t i v e p a r t n e r

Robert Wooldridge – Chairman

Chartered Accountant qualified from PWC in 1989 following a degree in Natural Sciences from Cambridge University. He joined the international equity capital markets division of HSBC Investment Bank in 1994 where he was responsible for completing a number of landmark equity transactions across Europe, India and the Middle East & Africa. Robert is currently a partner at SP Angel (founding partner). SP Angel is an independent corporate finance and broking operation which focuses on advising small and mid cap companies in the mining, oil and gas and technology sectors.

Luke Bryan – Chief Technical Officer

Luke is a mining engineer with

  • ver

20 years

  • f

international experience. Most recently he was chief executive officer of North River Resources, an AIM quoted mineral exploration company and prior to that he worked as an independent consultant. Luke has worked throughout Africa, Australia, the Former Soviet Union and Europe. He holds degrees in Mining Engineering and Economics from Auckland University.

Bernard Aylward – Chief Executive Officer

Geologist and Manager who has over 20 years experience across West Africa, Australia and Europe. Bernard has relevant extensive experience in West Africa project acquisition, exploration and development. He was a founding Director of ASX listed Taruga Gold Limited and has been instrumental in Kodal’s acquisition

  • f

the International Goldfields (Bermuda) Limited projects.

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SLIDE 4

KEY DATA

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

T i c k e r M a r k e t C a p S h a r e P r i c e S h a r e s i n I s s u e 5 2 W e e k R a n g e B r o k e r N o m a d

K O D . L £ 1 6 . 2 3 m i l l i o n 0 . 3 0 p 6 , 2 5 4 , 6 7 5 , 9 0 2 0 . 0 3 – 0 . 5 9 p S P A n g e l A l l e n b y C a p i t a l

Suay Chin Directors Others

0.1 0.2 0.3 0.4 0.5 0.6 200,000,000 400,000,000 600,000,000 800,000,000 1,000,000,000 1,200,000,000

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SLIDE 5

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

LITHIUM INTERESTS

THE GLOBAL LITHIUM-ION BATTERY MARKET WAS ESTIMATED AT US$17.5BN IN

  • 2013. MARKET SIZE TO

QUADRUPLE TO US$70BN

BY 2020

GLOBAL LITHIUM CONSUMPTION LCE DEMAND (KT)

CURRENT FORECASTS PREDICT THE GLOBAL MARKET FOR LITHIUM-ION BATTERIES IN PASSENGER

VEHICLES WILL GROW

FROM US$3.2 BILLION IN 2013 TO US$24.1 BILLION IN 2023

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SLIDE 6

MALI LITHIUM INTERESTS

PRIORITY TARGETS IDENTIFIED ON GROUND

  • World Bank Sponsored study, geological work completed by

CSA Global in 2008, identified high-grade lithium bearing pegmatites in the Bougouni-Sikasso region

  • Kodal has secured two project areas in the Bougouni-Sikasso

region:

  • Bougouni Project – 500km2 consisting of the Kolassokoro and Madina

concessions

  • Diendio Project – 109km2consisting of the Diendio Sud, Diossyan Sud and

Manankoro Nord concessions

  • Consistently wide and high grade mineralisation reported from

exploration at Bougouni Project – multiple targets currently being drilled

  • Geological reconnaissance and sampling of Diendio is on-going

during 2017

6

M A L I

KODAL NOW HAS INTERESTS COVERING AN AREA OF 600km2 WITH IDENTIFIED LITHIUM BEARING PEGMATITE VEINS AND GEOCHEMICAL ANOMALIES

I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

KODAL’S LITHIUM INTERESTS ARE LOCATED IN AN AREA OF KNOWN HIGH GRADE MINERALISATION WITH GLOBAL STRATEGIC INTEREST

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SLIDE 7

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

BOUGOUNI LITHIUM PROJECT PROSPECT MAP

BOUGOUNI LITHIUM PROJECT:

MULTIPLE HIGH GRADE TARGETS

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SLIDE 8

BOUGOUNI LITHIUM PROJECT:

AN ACCELERATED WORK PROGRAMME

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7 AUG 2016 JUNE 2017

FIELD REVIEW + RECONNAISSANCE GEOCHEMICAL SAMPLING GEOLOGICAL MAPPING ROCK CHIP SAMPLING 2,000M RC DRILLING TRENCHING TARGETING PEGMATITE EXTENTIONS ACQUISITION OF CONCESSIONS 2,500M RC DRILLING ROCK CHIP SAMPLING 8,000M RC DRILLING DIAMOND DRILLING ASSAY RESULTS

ACQUISITION OF MADINA + KOLASSOKORO CONCESSIONS DRILLING AT SOGOLA- BAOULE, NGOUALANA + KOLA PROSPECTS VEIN EXTENSIONS AT SOGOLA- BAOULE, BOUMOU + ORCHARD DRILLING AT SOGOLA-BAOULE + NGOUALANA DRILLING AT SOGOLA- BAOULE, BOUMOU + ORCHARD NGOUALANA NGOUALANA

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SLIDE 9

BOUGOUNI LITHIUM PROJECT:

HIGH GRADE LITHIUM MINERALISATION

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  • Intensive work programmes conducted across Bougouni have confirmed the presence of significant, high

grade lithium mineralisation

  • Assay results from first pass drilling include:

NGOUALANA

  • 47m at 1.51% Li2O from 32m;
  • 18m at 2.06% Li2O from 140m;
  • 21m at 1.72% Li2O from 11m; and
  • 18m at 1.69% Li2O from 37m

SOGOLA-BAOULE

  • 8m at 1.24% Li2O from 40m;
  • 7m at 1.29% Li2O from 63m; and
  • 8m at 1.62% Li2O from 104m

ORCHARD

  • 8m at 1.68% Li2O from 38m;
  • 8m at 1.73% Li2O from 78m; and
  • 6m at 1.61% Li2O from 55m

BOUMOU

  • 13m at 1.44% Li2O from 111m, including 5m at

2.02% Li2O from 116m;

  • 8m at 1.63% Li2O from 62m; and
  • 10m at 1.55% Li2O from 23m
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SLIDE 10

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

NGOUALANA PROSPECT DRILL HOLE LOCATIONS

BOUGOUNI LITHIUM PROJECT:

NGOUALANA PROSPECT PRIORITISED

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SLIDE 11

PIPELINE

ORCHARD, KOLA, SOGOLA

>Reconnaissance drill targets >Trenching >First pass returning positive results

NGOUALANA

>Priority Prospect >RC Drilling and Diamond Drilling >Metallurgical testwork >Geotechnical testing >Resource assessment

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

BOUMOU & SOGOLA-BAOULE

>Definition targets >Positive RC Drilling >Trenching >Follow-up drilling to advance prospects

Ranking Exploration Activity Development

TARGET GENERATION

>Geological mapping >Rock-chip returning multiple areas of interest

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SLIDE 12

SUAY CHIN INTERNATIONAL:

STRATEGIC INVESTOR & OFFTAKE PARTNER

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

  • Singapore registered trading company formed to supply the Chinese lithium market – from acid producers to

lithium carbonate producers and to the final lithium-ion battery manufacturer

  • Strong support from Shandong Mingrui Chemical Co Ltd, a long-term supplier to existing lithium carbonate

producers in Shandong Province

  • £4.8 million strategic investment finalised with Suay Chin in May 2017 – Suay Chin will hold 19.99% interest

Kodal once subscription is finalise

  • Option to appoint a director to the board of Kodal for so long as it holds more than 12% of issued share

capital of Kodal – an appointment is expected in the near future

  • Suay Chin is subject to a 12 month lock-in period and must adhere to
  • rderly market principles for 12 months thereafter
  • Off-take term sheet agreed relating to between 80% and 100% of the

spodumene product produced at Bougouni for a minimum period of three years

  • Metallurgical testing of Kodal's spodumene rich pegmatite samples

by existing lithium carbonate producers in China has been arranged by Suay Chin and it is expected to continue to offer strong technical contribution to the development of Bougouni

BEIJING SHANGHAI HONG KONG SHANGDONG

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SLIDE 13

I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

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GOLD INTERESTS

K O D A L P R O J E C T S

N A N G A L A S S O

G o l d i n M a l i

K O R H O G O

G o l d i n C o t e d ’ I v o i r e

B O U N D I A L I

G o l d i n C o t e d ’ I v o i r e

S L A M

G o l d i n M a l i

J O I N T V E N T U R E P R O J E C T S

N I E L L E

G o l d i n C o t e d ’ I v o i r e

T I E B I S S O U

G o l d i n C o t e d ’ I v o i r e

M ’ B A H A I K O

G o l d i n C o t e d ’ I v o i r e

D A B A K A L A

G o l d i n C o t e d ’ I v o i r e

M A L I C O T E D ’ I V O I R E

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SLIDE 14

NANAGALASSO: MALI

  • Two licence areas totalling 345km2 located

in a highly-mineralised district

  • 30km from Resolute’s 3.2Moz Syama mine

which is expected to produce 204Koz FY 2017

  • Concessions acquired in May 2016 held

under option agreements

  • A large geochemical gold anomaly has

been defined at Nangalasso

KORHOGO: COTE D’IVOIRE

  • Fully owned 360km2 concession in north

central part of the country at very early stage of exploration

  • Surface geochemical sampling programme

completed in September 2016 returned four new gold anomalous zones

  • Assay values up to 92 parts per billion of

gold

  • Strike lengths +3.5km

100% OWNED GOLD PROJECTS:

PORTFOLIO OF HIGH QUALITY EXPLORATION PROJECTS

N E X T S T E P S … 1. Field mapping programme – targeting extensions of the defined gold anomalous zones 2. Aircore drilling programme to test depth potential of gold anomalies in preparation for RC drilling N E X T S T E P S … 1. Follow up and infill geochemical sampling to define targets for reconnaissance aircore drilling 2. Definition of zones and prioritisation for first pass drilling

I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

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SLIDE 15

GOLD JV INTERESTS:

DE-RISKING PROJECT DEVELOPMENT

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7

Expenditure commitment

  • f US$3.0 million by

Resolute Earning a 75% interest in three licences – Tiebissou and Nielle exploration licences and the M’Bahaikro licence application Two licence areas located in a highly-mineralised district just 30km from Resolute’s Syama mine Expenditure of US$1.7 million by Newcrest Earning a 75% interest in Dabakala Project US$750,000 minimum spend in first 12 months (by 14 December 2016)

SIGNIFICANTLY DE-RISKING PROJECTS THROUGH EXPLORATION COMMITMENT BY LEADING GOLD COMPANIES

N E X T S T E P S … 1. Newcrest: results of auger drilling at Dabakala 2. Resolute: on-going geochemical sampling at Nielle & Tiebissou & on-going discussions re M’Bahaikro licence ahead of field work commencing

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SLIDE 16

INVESTMENT SUMMARY

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I N V E S T O R P R E S E N T A T I O N | J U N E 2 0 1 7 CONSISTENTLY IMPRESSIVE RESULTS UNDERPIN HIGH GRADE LITHIUM MINERALISATION RAPID EXPLORATION SCHEDULE SHOULD SEE TRANSITION FROM GREENFIELD EXPLORATION TO JORC DEFINED DISCOVERY WITHIN 12 MONTHS OF INITIAL ACQUISITION WELL FUNDED £4.8 MILLION STRATEGIC INVESTMENT FROM SUAY CHIN ENSURES 2017 EXPLORATION CAMPAIGNS ARE FULLY FUNDED OFFTAKE PARTNER SECURED FOR BETWEEN 80-100% OF SPODUMENE PRODUCT FROM BOUGOUNI FOR A MINIMUM OF 3 YEARS UPSIDE FROM GOLD PORTFOLIO – 100% OWNED PROJECTS UNDERGOING LOW COST EXPLORATION PROGRAMMES IN ADDITION TO JV FUNDED GOLD PROPERTIES OFFERING SIGNIFICANT LONG TERM VALUE HIGH IMPACT NEWS FLOW FROM MULTIPLE WORK PROGRAMMES ACROSS NUMEROUS PROSPECTS HIGHLY COMPETENT & DEDICATED TEAM WITH SIGNIFICANT OPERATIONAL EXPERIENCE IN WEST AFRICA

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SLIDE 17

CAPE TOWN 121 CONFERENCE 2017 CORPORATE PRESENTATION

Q1 2017

DEVELOPMENT + EXPLORATION IN THE EMERGING LITHIUM PROVINCE OF SOUTHERN MALI

CONTACTS

BERNARD AYLWARD | CHIEF EXECUTIVE OFFICER E: BERNARD@KODALMINERALS.COM SP ANGEL | BROKER E: RICHARD.PARLONS@SPANGEL.CO.UK E: ELIZABETH.JOHNSON@SPANGEL.CO.UK ST BRIDES PARTNERS | FINANCIAL PR & IR E: SUSIE@STBRIDESPARTNERS.CO.UK E: MEGAN@STBRIDESPARTNERS.CO.UK