For personal use only E2 METALS AGM PRESENTATION | NOVEMBER 2019 - - PowerPoint PPT Presentation

E2 METALS

AGM PRESENTATION | NOVEMBER 2019

For personal use only

1

› The following material is for general information purposes only and is not to be relied upon for the making of an investment decision. Any investment in E2 Metals Limited ACN 116 865 546 (E2M) is subject to investment risk including the possibility of loss of capital invested and no return of income or payment of dividends. Neither E2M nor any other entity or person in or associated with the E2M group of companies guarantees any return (whether capital or income) or generally the performance of E2M or the price at which its securities may trade. In particular, this presentation is not a recommendation, offer or invitation to subscribe for or purchase E2M securities. It is not for general distribution

• r third party reliance or use. While it has been prepared from sources E2M believe to be reliable, E2M cannot guarantee its accuracy or completeness

and undertakes no obligation to advise of changes or updates to any such materials. These materials are not exhaustive of all of the information a potential investor or their professional adviser would require. Nor do these materials take into account any specifjc objectives, fjnancial situation or needs of investors. In addition, the past performance of E2M cannot be assumed as indicative

• f the future performance of the company. For these and other reasons, before making any investment decision regarding E2M securities you are

strongly recommended to obtain your own up to date independent legal, fjnancial and investment advice – those acting without such advice do so at their own risk. Where this presentation does contain any forward looking statements, those statements are only made as the date of the presentation and are to be considered “at-risk statements” not to be relied upon as they are subject to further research and to known and unknown risks, uncertainties and other factors that may lead to actual results differing from any forward looking statement. This is particularly the case with companies such as E2M which

• perate in the mining industry.

DISCLAIMER

For personal use only

| Santa Cruz gold deal | Advancing three projects | Two drill programs

• one ongoing

| Emerging greenfjelds discovery at Conserrat

2

2019: A TRANSFORMATIVE YEAR

For personal use only

RECAP OF THE DEAL

World-class gold and silver district | Stable mining jurisdiction | Four fmagship projects | Focus on overlooked extensions |

• f proven vein fjelds |

Includes landholding in emerging | Rio Negro province |

1E2 Metals ASX Announcement 20 December 2018,

E2 Metals to Acquire a Portfolio of Gold and Silver Projects

Controlling 80% interest¹ in the Santa Cruz gold projects, Argentina

3

For personal use only

4

› Todd holds a Bachelor of Science (Geology) and graduated from the Adelaide University in 2011. Todd was appointed as Managing Director

• f E2 Metals during December 2018 following the acquisition of the Santa Cruz gold projects. Prior to that Todd was the founder and

principal of Circum Pacifjc a private Australian exploration company focused on developing large scale greenfjelds gold projects in Colombia and Argentina.

Todd Williams Managing Director

› Alastair is a geologist and fjnance industry professional who spent 14 years in the exploration and mining industry working in Australia and

• Africa. He managed the exploration team at the North Mara Gold Mine in Tanzania for 7 years, during feasibility and development, including

the discovery of the multi-million-ounce Gokona gold deposit. For the past 15 years Alastair has managed a private resource-oriented investment fund. During this time, he has been involved in several exploration ventures in South America, more recently as an advisor to Circum Pacifjc. Alastair is also a current non-executive director of ASX-listed OreCorp Limited.

Alastair Morrison Non-Executive Director

› Colin is an economic geologist with 35 years’ experience in all aspects of mineral exploration, with a specifjc focus on porphyry and epithermal copper-gold deposits in Peru, Chile and Argentina. Colin was the former Exploration Manager of IAMGOLD in Argentina and was closely involved in Underworld Resource’s White Gold discovery in the Yukon Territory, Canada. He holds a BSc (hons) from the University of Otago in New Zealand, and MSc in GIS from Leeds University in England.

Colin Brodie Senior Technical Advisor

› Emilio is a lawyer, qualifjed at the Bar in Argentina, specialized in mining law, including foreign investments and incorporation of new businesses in the sector. He has over 14 years working along different exploration mining companies for the developing of projects located in Argentina, Colombia and Uruguay. Emilio holds a LLM in Mining Law and Policy from the CEPMLP, University of Dundee and is currently based in San Juan, Argentina where he co-founded Bastías Yacante Law Firm.

Emilio Bastias Country Manager

› Melanie is a Chartered Accountant and a Registered Company Auditor with 25 years’ experience, including 13 years in the Corporate Secretarial professions. Melanie is a director and company secretary for numerous oil and gas, junior resource and exploration companies

• n the Australian Stock Exchange and brings deep expertise in corporate governance and statutory reporting. Since 2000 she has been

the principal of chartered accounting fjrm, Leydin Freyer.

Melanie Leydin Chairperson

BOARD AND MANAGEMENT

For personal use only

91.9M shares outstanding 52 week low: 5.7c 52 week high: 30c

* As at 16 Nov 2019

Share Price* 19cents Market cap* $17.45M Cash** $3.3M

** As at 30 Sept 2019

CORPORATE

Renewed board and focus | Introduced South American expertise | and management | Successful non-brokered $2.4M capital raising | completed in June 2019 | Funded for current work programs | Corporate Snapshot E2M 12 month share price chart

5

For personal use only

› FIRST RECONNAISSANCE Surface rock & soil sampling › VETA BLANCA SURFACE DISCOVERY

CONSERRAT SIERRA MORENA CORONA

› DRILL COMMENCES Maiden 1905m drill program › SM6 & ASC PROSPECTS › REGIONAL GEOPHYSICS Magnetics, Gradient Array IP › DISCOVERY OF BLIND VEIN FIELD? › TRENCH PROGRAM, IP Pole-dipole IP, CSAMT › RO & FLORENCIA SURFACE DISCOVERIES › REGIONAL SOIL PROGRAM Southern Project Area › FOUR NEW TARGETS FENIX, BERLEN, LODRES, TOKIO › DRILLING COMMENCES Maiden 2500m drill program › (Results pending) Q1 Q2 Q3 Q4 › CORONA NORTE Regional Soil Program › (Results pending)

OVERVIEW OF ACTIVITIES FOR 2019

Three greenfields surface discoveries at Conserrat, project pipeline building

For personal use only

Under-explored extension of El Tranquillo | district – host to high grade COSE |

1.14 Moz Au, 32.5 Moz Ag² | |

First 1905m drill program completed | shortly after fjnalising the acquisition | Mineralised veins confjrmed | at SM6, deeper drilling required | New targets defjned at Londres, Berlen, | Fenix and Tokio |

Key highlights

Sierra Morena Project

7

PROJECT OVERVIEW

²Source for the Cap-Oeste resource estimate is the Patagonia Gold website - http://www.patagoniagold.com/projects/el-tranquilo/ ²Source for the COSE resource estimated is the SEDAR fjling by Pan American Silver on August 9, 2017

For personal use only

| SMRC-02: 12m at 0.33gpt gold and 64.3gpt silver from 30m | SMRC-15: 4m at 0.73gpt gold and 98.4gpt silver from 28m At COSE broad zones of shallow mineralisation transition into narrow high grades at depth - focus at SM6 on deeper drilling for high grade targets New soil targets, expanded anomalies with no prior drilling

RESULTS ENCOURAGING IN THE CONTEXT OF COSE TARGET MODEL

8

First phase of drilling at SM6 consistent with COSE model³

³Source of COSE drill intercepts: Chlumsky et al (²0¹²) NI 4³-¹0¹ Technical Report Preliminary Economic Assessment Cap Oeste Suroeste (COSE) Project Santa Cruz Province Argentina

For personal use only

PROJECT OVERVIEW

9

¹Mirasol Resources Ltd Corporate Presentation: September 2018

Key highlights

Conserrat Project

Emerging greenfjelds discovery |

• new vein fjeld identifjed under cover |

Extension of the Cerro Vanguardia mine | sequence and host structure |

8.9Moz Au, 137Moz Ag¹ | |

First systematic exploration commenced | in February 2019 | Multiple targets and mineralised trends | Current focus, with maiden | drill program underway |

4

For personal use only

10

› SURFACE PROSPECTING IAMGOLD Argentina team collect ~130 rock samples › IAMGOLD WITHDRAWS FROM ARGENTINA Conserrat tile land banked by private holder SANTA CRUZ DISCOVERY BOOM CONSERRAT STAKED BY ‹ CIRCUM PACIFIC ‹ Later dealt to E2 Metals ‹

• n December 2018 ‹

FIRST SYSTEMATIC ‹ EXPLORATION ‹ BY E2 METALS ‹ New surface discoveries ‹ at Veta Blanca, Melisa, ‹ Ro and Florencia ‹ CERRO MORO ESCONDIDA VEIN ZOE VEIN CERRO NEGRO LAS MARIANAS EUREKA WEST SILICA CAP SAN JOSE KOSPI & FREA

CONSERRAT HISTORY: LAND BANKED DURING SANTA CRUZ DISCOVERY BOOM

2003 2007 2017 2019

GOLD MINE VEIN DISCOVERY

First systematic exploration at Conserrat aided by key learnings from these recent discoveries

For personal use only

1. 2. 3.

11

EXPLORATION WORKFLOW – PHASE 1 PROSPECT IDENTIFICATION

Initial exploration to evaluate the potential of Conserrat was conducted during Q1 2019 and comprised a staged work program of: Key Findings

| Confjrmation of high grade gold-silver mineralisation in surface veins (Veta Blanca) | Widespread soil anomalies, fjrst evidence

• f blind vein trends where outcrop is absent

| All veins and anomalies associated with major geophysical lineaments, large single vein fjeld? Surface sampling of

• utcropping veins,

structures Regional soil grid Regional Gradient Array IP Survey

For personal use only

¹E2 Metals ASX Announcement 7 February 2019, High-Grade Rock Chip Samples at Veta Blanca Prospect

| Up to 7510gpt silver and 7.46gpt gold in surface vein samples | Three outcropping mineralised veins over a strike length of 325m | Banded epithermal vein textures, typical

• f ‘boiling zone’

In February 2019, E2 announced high grade surface discovery at Veta Blanca

The first evidence of high-grade surface mineralisation within the project

INITIAL RECONNAISSANCE BY E2 METALS

12

Outcropping gold and silver veins, Veta Blanca prospect

5

For personal use only

Soil sampling constrained to the central and | southern ‘erosional’ windows through | the younger Tertiary basalt | Very high silver and gold at | Veta Blanca-Emilia over 2.5km | Additional anomalies at Ro and Florencia | spaced north-south over 3km |

Widespread gold & silver anomalies¹ defined in areas of shallow cover

First indication of parallel mineralised veins beyond Veta Blanca

FIRST REGIONAL SOIL SURVEY

13

FLORENCIA SOIL SURVEY AREA

¹E2 Metals ASX Announcement 27 February 2019, Surface LAG Geochemistry expands Veta Blanca Targets

6

For personal use only

| Over 34km of Gradient Array IP trends defjned to date | At least 50% correspond to positive soil geochemistry or vein outcrop | Similar to many known epithermal vein fjelds in Santa Cruz

Gradient Array IP shows soil anomalies to be associated with major chargeability-resistivity lineaments

First evidence suggesting all prospects are connected as a single vein system

IP GEOPHYSICS EXPANDS TARGETS UNDER BASALT COVER

14

CONSERRAT PROJECT GAIP IMAGES

CHARGEABILITY RESISTIVITY

For personal use only

1. 2. 3.

15

EXPLORATION WORKFLOW – PHASE 2 DRILL TARGET GENERATION

In April 2019 a second phase of exploration commenced to define vein targets and host structures across the entire project area Key Findings

| Identifjed multiple new mineralised trends (Ro & Florencia), confjrming GAIP vein targets | Refjned GAIP targets, many priority chargeability-resistivity targets defjned in vertical sections | Confjrmed structural & geological setting, prioritised IP targets associated with basin-related faults Surface Trenching Pole – Dipole IP CSAMT

For personal use only

TRENCH RESULTS

¹E2 Metals ASX Announcement 14 October 2019, Conserrat Project Exploration Update; and 31 October 2019, New Mineralised Trends Confjrmed at Ro and Florencia

Multiple mineralised structures and veins¹

Veta Blanca | Mineralisation defjned

‹

• ver 750m

‹

0.8m at 3.8gpt Au,

‹

760gpt Ag

‹

Melissa | Mineralised structure,

‹

strong IP target

‹

0.8m at 2gpt Au

‹

| Ro › 15m at 0.83gpt Au, › 49.5gpt Ag › inc. 2m at 2.5gpt Au, › 136.62gpt Ag | Florencia › 13.5m at 0.7gpt Au, 1gpt Ag › inc. 1m at 3.26gpt Au, › 3.94gpt Ag

16

7

For personal use only

POLE DIPOLE IP - VETA BLANCA TO RO

17

At Veta Blanca IP shows deep chargeability highs and vertical lineaments beneath known veins, highlighting the potential of similar blind targets extending all the way to the strike continuation of Ro.

POLE DIPOLE IP LINE 11 – VETA BLANCA TO RO

For personal use only

18

At Florencia IP shows exceptionally high chargeable zones at depth and multiple ‘vein-like’ targets over 1500m to Ro. Signifjcant potential for blind veins under Tertiary basalt cover.

POLE DIPOLE IP LINE 17 – FLORENCIA TO RO

POLE DIPOLE IP - RO TO FLORENCIA

For personal use only

| Capable of resolving the subsurface geology 500m below the surface | Reveals major structures and basin architecture (eg Cerro Vanguardia) | These faults with coincident IP anomalies represent priority targets for blind veins (see Line 19)

Regional CSAMT data key to mapping major structures as host to veins

CSAMT SURVEY

19

CSAMT LINE 19 – FLORENCIA TO RO

For personal use only

Initial 2500m RC program | Testing outcropping vein and IP targets at all fjve prospects | | The fjrst step in establishing vectors towards potential blind ore shoots |

The maiden drill program is underway, running for six weeks

CONSERRAT DRILLING

20

For personal use only

Located 30km south of Newmont Goldcorp’s | Cerro Negro and recent Silica Cap discovery |

2018 production¹: 489koz Au at 13.9gpt | | 2018 resources¹: 6.4Moz Au, 46Moz Ag | |

First systematic exploration using the | Conserrat ‘play book’ | Soil (LAG) survey and potentially | Gradient Array IP |

¹Goldcorp, Annual Information Form, 28 March 2019

Initial work has commenced at Corona

PIPELINE PROJECTS

21

8 8

For personal use only

| Two high-grade discoveries in the past twelve months

| Southern Nights (3.8Mt @ 5.5%Zn, 2.1%Pb, 75gpt Ag, 0.31gpt Au)¹ | Federation (recent drill hole intercept: 7m at 45% Pb+Zn)¹

| Highlights potential for similar discoveries under cover at Mount Hope

New discovery thematic for the Cobar Basin: high-grade base metal under cover

MOUNT HOPE

22

9 10 ¹Peel Mining, 12 November 2019, Investor Presentation – November 2019

¹Aurelia Metals, 6 November 2019, Investor Site Visit Presentation, November 2019

For personal use only

23

— Drilling priority targets at Conserrat — Advancing pipeline projects — Unlocking value at Cobar

FOCUS FOR 2020

For personal use only

| ASX Announcements

› 20 December 2018, E2 Metals to Acquire a Portfolio of Gold and Silver Projects › 7 February 2019, High-Grade Rock Chip Samples at Veta Blanca Prospect › 27 February 2019, Surface LAG Geochemistry expands Veta Blanca Targets › 27 March 2019, Geophysics identifjes Vein Targets at the Conserrat Project › 24 April 2019, Drilling Complete at Sierra Morena › 20 May 2019, Sierra Morena Drill Results › 19 August 2019, Sierra Morena – Southern Project Area Soil Targets › 14 October 2019, Conserrat Project Exploration Update › 31 October 2019, New Mineralised Trends Confjrmed at Ro and Florencia

| Streamline Competent Persons Statement

› This report contains information extracted from previous ASX releases which are referenced in the report. The Company is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confjrms that the form and context in which the Competent Person’s fjndings are presented have not been materially modifjed from the original market announcement.

| Contact

› www.e2metals.com.au Level 4 100 Albert Rd, South Melbourne VIC 3205 Phone: +61 3 9692 7222 Fax: +61 3 9077 9233 Email: info@e2metals.com.au

For personal use only

WWW.E2METALS.COM.AU

For personal use only