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HONE YMOON URANIUM PROJE CT So uth Austra lia INVE ST OR PRE SE NT AT ION F e b rua ry 2017 DISCL AIME R The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or


slide-1
SLIDE 1

HONE YMOON URANIUM PROJE CT

So uth Austra lia

INVE ST OR PRE SE NT AT ION

F e b rua ry 2017

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SLIDE 2

The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or in writing by or on behalf of Boss Resources Limited (“Boss”) or its respective employees, agents or consultants (Information) is provided to the recipients on the terms and conditions set out in this notice. The purpose

  • f this presentation is to provide recipients with information relating to Boss Projects.

This presentation does not constitute investment advice and has been prepared by Boss without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient must make his/her own independent assessment and investigation of Boss and its business and assets when deciding if an investment is appropriate and should not rely on any statement or the adequacy and accuracy of any information. This presentation is in summary form and does not purpose to be exhaustive. This presentation should be read in conjunction with Boss’ periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available to download at www.asx.com.au. Boss makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completeness of the Information. Boss and its directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the presentation, except liability under statute that can not be excluded. This presentation may contain forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are

  • utside the control of Boss. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties,

recipients are cautioned not to place reliance on forward-looking statements. This presentation does not constitute in any way an offer or invitation to subscribe for securities in Boss pursuant to the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission. The information in this document relating to the Expansion Study is extracted from the announcements entitled ‘Positive Expansion Study Results Progress The Honeymoon Uranium Project To PFS’ dated 28 September 2016. The information in this document relating to the Mineral Resources is extracted from the announcements entitled ‘Substantial Increase And Upgrade In Honeymoon Uranium Resource’ dated 20 January 2016 , ‘Boss Increases Honeymoon Uranium Project Resource’ dated 8 April 2016, ‘Maiden Resource of 5.2Mlb for Jason’s Deposit’ dated 14 June 2016 and is available to view on www.bossresources.com.au. The information relating to the Exploration Target is extracted from the announcement entitled ‘Honeymoon Project Exploration Update’ and dated 8 December 2015. The information relating to the Exploration Results for the Jasons Deposit is extracted from the Company’s announcements dated 6 December 2016, 8 December 2016, 14 December 2016 and 3 February 2017. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that, in the case of Mineral Resources or Ore Reserves, all the material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. The Exploration Target is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource under the JORC Code 2012. The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve.

2

DISCL AIME R

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SLIDE 3

CL IMAT E CHANGE RE QUIRE S NUCL E AR E NE RGY INVOL VE ME NT

“T he re ’ s re a lly o nly o ne te c hno lo g y tha t we kno w o f tha t supplie s c a rb o n-fre e po we r a t the sc a le mo de rn c iviliza tio n re q uire s, a nd tha t is nuc le ar powe r”

  • K

e n Ca lde ira o f Sta nfo rd Unive rsity’ s De pa rtme nt o f Glo b a l E c o lo g y

slide-4
SLIDE 4
  • 2 billion of the world’s popula tion of 7 billion la c k a c c e ss to e le c tric ity
  • Nuc le a r powe r provide s non- polluting 24:7 ba se loa d powe r sourc e ba se loa d e ne rg y
  • Ze ro c a rbon e missions, sa fe , c le a n, re lia ble a nd a fforda ble .
  • Ove r 440 e xisting nuc le a r pla nts, foc use d in E

urope , North Ame ric a , Russia , South Kore a a nd Ja pa n

  • E

me rg ing e c onomie s re quire a n e ne rg y mix of nuc le a r, c oa l, g a s a nd re ne wa ble s to me e t the ir g rowing 24 hour powe r re quire me nts to ha ve he a lthc a re , e duc a tion, tra nsporta tion a nd c ommunic a tion syste ms Nine Mile Point Nuc le ar Station is a nuc le ar po we r plant with two nuc le ar r e ac to r s lo c ate d in the to wn of Sc r iba, appr

  • ximate ly five mile s nor

the ast o f Oswe go , Ne w Yor k, o n the sho r e o f L ake Ontar io.

NUCL E AR POWE R: T HE BE ST SOL UT ION

slide-5
SLIDE 5
  • Generation Capacity: 374,067 MWe
  • Annual Uranium Demand: 64,978 tonnes U

441

OPE RABL E RE ACT ORS DE CE MBE R 2013

  • Generation Capacity: 187,740 MWe
  • Annual Uranium Demand: 32,600 tonnes U

173

PL ANNE D RE ACT ORS

64

UNDE R CONST RUCT ION

  • Of which 22 reactors are to be built in China
  • Generation Capacity: 74,886 MWe
  • Annual Uranium Demand: 13,000 tonnes U

Hinkle y Po int C nuc le ar po we r station is a pr

  • je c t to c onstr

uc t a 3,200 MWe nuc le ar po we r station with two E PR r e ac to r s in So me r se t, E ngland.

  • Globa l nuc le a r powe r g e ne ra tion c a pa c ity will inc re a se 70% ove r

the ne xt de c a de from 374,067MWe to 636,693MWe

  • Annua l ura nium de ma nd will inc re a se from 177mlbs to 280mlbs by

2020, re pre se nting a 58% inc re a se

  • Additiona l 390mlbs will be ne e de d for ne w initia l c ore s

MARKE T DE MAND – GL OBAL RE ACT OR GROWT H

slide-6
SLIDE 6

Gr

  • wing gap be twe e n the ur

anium c onsume d by r e ac tor s and the ur anium pr

  • duc e d fr
  • m wor

ld mine s, as has be e n the c ase for many ye ar s. L

  • ng

le ad time s for ur anium mine de ve lopme nt 5 – 7 ye ar s, c ouple d by r e c e nt low ur anium pr ic e s making it e c onomic ally c halle nging to br ing on ne w pr

  • duc tion.

Daya Bay Nuc le ar Powe r Plant is a nuc le ar powe r plant lo c ate d in Daya Bay in L

  • nggang Distr

ic t, She nzhe n, Guangdong, China; and to the nor th e ast o f Ho ng Kong.

RE AL OPPORT UNIT Y F OR BOSS RE SOURCE S

slide-7
SLIDE 7

CHINA

CURRE NT NUCL E AR GROWT H PL AN

58GWe 97GWe 160GWe

2020 2025 2040

Boost nuc le a r powe r c a pa c ity by more tha n 70% by 2020 Air Qua lity Impe ra tive – sc uttling of 85 c oa l- fire d powe r sta tions a nd inve sting US$ 365B into re ne wa ble e ne rg y, inc luding nuc le a r Bre a king g round on 6- 8 ne w units pe r ye a r (inc re a sing to 10 pe r ye a r post- 2020)

slide-8
SLIDE 8

INDIA

21 6 4

With insta lle d c a pa c ity o f 6 GWe

RE ACT ORS OPE RAT ING

Ca pa c ity o f 6 GWe

UNDE R CONST RUCT ION

T

  • ta lling 24 GWe

PL ANNE D

Boost nuc le a r powe r c a pa c ity by more tha n 29% by 2019 Offic ia l Pla n – 15 GWe insta lle d by 2025 Ura nium buying spre e (long te rm c ontra c ts) – Ca na da , Ka za khsta n, Uzbe kista n) E sta blishme nt of “Stra te g ic Ura nium Re se rve ”

  • f be twe e n 13 a nd 39mlbs U3O8
slide-9
SLIDE 9

JAPAN

Go ve rnme nt a ppro ve d

PL ANNE D

NUCL E AR POWE R

26 5 4

NRA ha s re c e ive d 26 re a c to r re sta rt a pplic a tio ns

APPL ICAT IONS

F ive re a c to rs a ppro ve d fo r re sta rt

APPROVE D

F

  • ur re a c to rs ha ve

sta rte d

RE ST ART E D

20- 22% 20- 22%

NUCL E AR POWE R

PL ANNE D

Go ve rnme nt a ppro ve d

slide-10
SLIDE 10

10

HONE YMOON HIGHL IGHT S

PE RMIT T E D

F ully pe rmitte d ura nium

  • pe ra tio n

(1 o f o nly 4 in Austra lia )

T ARGE T

Sig nific a nt e xplo ra tio n ta rg e t Hug e 80+ km po te ntia lly mine ra lise d strike 2,600km2 unde re xplo re d ura nium pro vinc e 57.8mlb U

3O 8 JORC Re so urc e

INF RAST RUCT URE

$170m pla nt a nd infra struc ture in pla c e

L OW CAPE X

E xpa nsio n Study hig hlig hts lo w CAPE X e xpa nsio n US$57M to 2mlb pa a nd AISC o f US$24/ lb F urthe r e xpa nsio n to 3.6mlb pa

BOSS ha s a numbe r of a dva nta g e s ove r its pe e rs a nd like ly to be in produc tion soone r tha n ma ny.

slide-11
SLIDE 11

CORPORAT E ST RUCT URE

E xisting Share s (ASX:BOE

)

1,007 millio n Pe rformanc e Rights* 60.5 millio n Options (va rio us) 40 millio n Marke t Capitalisation

(a t $0.07)

~$70.5 millio n T

  • p 100 Share holde rs

~75%

Sha re ho lde r Bre a kdo wn

10

Sha re Pric e Mo ve me nt

13% 13% 8% 66%

Dire c to rs & Re la te d Pa rtie s Offsho re Ho lding s No mine e Co mpa nie s Hig h Ne t Wo rth & Re ta il

*10 million r ights: shar e pr ic e is gr e ate r than 7.5c for 20 c onse c utive ASX tr ading days. 4.5 million r ights: shar e pr ic e is gr e ate r than 8.5c for 20 c onse c utive ASX tr ading days. 13.3 million r ights: disc ove r y and de c ision to mine of 75kt Ni JORC r e sour c e

  • n Sc andinavian Pr
  • je c t. 13.3 million r

ights: disc ove r y and de c ision to mine of 125kt Ni JORC r e sour c e on Sc andinavian Pr

  • je c ts. 1 million: 30mlb JORC Re sour

c e of U3O8 in the Me asur e d and Indic ate d c ate gor ie s fr

  • m the E

aste r n T e ne me nts at Hone ymoon Ur anium Pr

  • je c t. 0.25 million: 33mlb JORC Re sour

c e of U3O8 in the Me asur e d and Indic ate d c ate gor ie s fr

  • m the E

aste r n T e ne me nts at Hone ymoon Ur anium Pr

  • je c t.

0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 01-Jul-16 01-Aug-16 01-Sep-16 01-Oct-16 01-Nov-16 01-Dec-16 01-Jan-17 01-Feb-17

slide-12
SLIDE 12

AUST RAL IAN URANIUM PROJE CT S

11

  • One o f the hig he st g ra de un-mine d ura nium

re so urc e s in Austra lia

  • 1 o f o nly 4 fully pe rmitte d ura nium pro je c ts in

Austra lia with e xpo rt lic e nc e

  • L
  • c a te d 75K

m NW o f Bro ke n Hill, So uth Austra lia

  • Curna mo na Ba sin – a sig nific a nt unde re xplo re d

ura nium pro vinc e

  • I

nhe rite d ma ssive da ta b a se - o ve r 5,300 drill ho le s – we a lth o f info rma tio n

  • T

a rg e ting >100mlb s re so urc e

  • Mine ra lisa tio n o c c urs a t 90-120m de pth
  • Re so urc e s a me na b le to I

n-Situ L e a c h re c o ve ry

  • L
  • w CAPE

X a nd OPE X c o sts

  • Curre ntly o n c a re a nd ma inte na nc e

HONE YMOON URANIUM PROJE CT

slide-13
SLIDE 13

INFRASTRUCTURE

$170M INF RAST RUCT URE AL RE ADY IN PL ACE Water Treatment Plant Camp Workshop Production Facility PLS Ponds Admin Buildings Control Centre Production Well Fields

slide-14
SLIDE 14

SIGNIF ICANT E XIST ING HIGH GRADE RE SOURCE S – HIGHE ST GRADE AMONGST ASX- L IST E D PE E RS

Classific ation Million T

  • nne s

U3O 8 ppm Containe d U3O 8 (Mkg) Containe d U3O 8 (Mlb) Me asur e d

1.7 1720 2.95 6.5

Indic ate d

5.9 810 4.80 10.6

Infe r r e d

32.5 569 18.50 40.7

T

  • tal

40.1 654 26.24 57.8

Note : F igur e s have be e n r

  • unde d. Quote d r

e sour c e s have be e n adjuste d to e xc lude pr e vious pr

  • duc tion of appr
  • ximate ly335t of U3O 8.

Cove r ing the E aste r n and We ste r n T e ne me nt Re gions. Re por te d Above a pr e fe r r e d 250ppm U3O 8 lowe r c ut-off

HONE YMOON RE SOURCE

14

slide-15
SLIDE 15

15

E XPANSION ST UDY

L OWE ST CAPE X URANIUM PL AY ON ASX WHIL ST MAINT AINING L OW OPE X

  • Co mple te d Se pte mb e r 2016 b y GR E

ngine e r ing a nd ANST O

  • T

he E xpa nsio n Stud y wa s b a se d o n r

e sults fr

  • m past pr
  • duc tion ope r

ations.

  • Bring ing in ura nium ind ustry e xpe rts , c he rry pic king e ng ine e ring / te c hnic a l g e o lo g y & hyd ro lo g y pe rso nne l
  • A hyb rid E

L UE X pro c e ss utilizing $170m e xisting infr

astr uc tur e

  • L
  • w CAPE

X re q uire d - US$7 millio n fo r pla nt re -sta rt plus US$57 millio n fo r the e xpa nsio n to 2mlbs / a nnum

  • Ste a d y sta te AISC ar

e ~US$24/ lb U

3O 8

  • F

ur the r e xpansion to 3.6mlbs / a nnum U

3O 8 in ye a rs 4-5

  • Ne xt pha se to inc lud e e xplo ra tio n o n o the r id e ntifie d ta rg e ts d e fe rring ne e d to d e ve lo p Go uld ’ s Da m re so urc e
  • Se e ASX a nno unc e me nt (ASX: BOE

28 Se pte mb e r 2016) fo r furthe r d e ta ils

slide-16
SLIDE 16
  • E

aste r n T e ne me nt Re sour c e o f 32.8mlb U3O 8

  • Additional re g io na l E

xplo ra tio n T a rg e t o f 18- 47mlb U3O 8

  • 30 str

ike km o f po te ntia l mine ra lisa tio n

  • Dr

ill r e ady tar ge ts - histo ric a l d rilling sho ws nume ro us

inte rc e pts >1,000ppm U

3O 8

  • T

hr e e pr ior ity r e gions – Ya rra mb a , Ja so ns a nd L

a wlo rs

e a rly po te ntia l fo r re so urc e d e finitio n

  • Dr

illing c omme nc e d o n Ja so n’ s De po sit Q4 2016

c urre nt re so urc e ~5mlbs U3O 8 e xpe c te d to inc re a se

infill d rill pro g ra m to inc re a se re so urc e s sub sta ntia lly

16

E AST E RN T E NE ME NT S

LAWLORS

Historical & Recent Drilling Intercepts

YARRAMBA NORTH JASONS

ML6109 - Honeymoon

.

E XPL ORAT ION POT E NT IAL

slide-17
SLIDE 17
  • 72 mud r
  • tar

y hole s for 8,580m d rille d to F

e b rua ry 2017

High gr ade tr e nd >1,300m lo ng id e ntifie d in the

so uthe rn d rill re g io n

Ave ra g e g ra d e o f 1,458ppm e U3O 8

Ave ra g e thic kne ss o f 2.5m

  • 2 sonic hole s dr

ille d in southe r n high- gr ade zone

Co nfirms ro ll-fro nt re la te d mine ra lisa tio n o n re d o x b o und a ry

Mine ra lisa tio n in c o a rse to g ra ve lly sa nd s

  • 3 x monitor

ing hole s to b e pla c e d to a llo w fo r

e nviro nme nta l mo nito ring a nd pe rmitting

17

JASONS DE POSIT

.

F IRST E XPL ORAT ION – SUCCE SSF UL

slide-18
SLIDE 18
  • We ste r

n T e ne me nt Re sour c e o f 25mlb U3O 8

  • Additional re g io na l E

xplo ra tio n T a rg e t o f 24- 53mlb U3O 8

  • L

imite d e xplo ra tio n pe rfo rme d to d a te o n va st pro spe c tive a re a s

  • 54 str

ike km o f po te ntia l mine ra lisio n

  • Goulds Dam / Bille ro o syste m unde r

r ate d:

12km str ike le ngth

Und e r d rille d hig hly pro spe c tive g ro und

F ur the r r e sour c e upgr ade s e stima te d fro m furthe r d rilling

  • Othe r pe gmatite hoste d mine r

alisation up to 3.5% U3O 8 id e ntifie d

  • Po te ntia l fo r ne w style s o f mine ra lisa tio n simila r to Be ve rly / 4 Mile
  • Gra d e s o f up to 1% U3O 8 re po rte d fro m histo ric a l d rilling

18

WE ST E RN T E NE ME NT S

E XPL ORAT ION POT E NT IAL

slide-19
SLIDE 19

L

  • we st c o st pe r lb a c q uisitio n in re c e nt histo ry

Proje c t Ac quisition

T

  • ta l re so urc e o f 57.8mlb U3O8 @ 654ppm – 3.5

time s the re so urc e a t a c q uisitio n in De c e mb e r 2015

Re sourc e Upgrade d

L

  • w CAPE

X a nd OPE X study c o mple te d 2m – 3.6mlb pe r a nnum AISC ~US$24/ lb E xpa nsio n CAPE X US$57m

E xpansion Study

T a rg e t kno wn mine ra lise d a re a s fo r lo w c o st a dditio na l re so urc e

Comme nc e drilling Q4 2016 E xpansion PF S c omple te d Q2 2017 Comme nc e me nt of E xpande d Produc tion e stimate d mid 2019

✓ ✓ ✓

Proje c t Ac tivitie s Q₃ 2016 Q₄ 2016 Q 1 2017 E nd 2017 Option Study Initial E xploration Re sourc e Upgrade - Jasons PF S E xpansion DF S E xpansion

F E ASIBIL IT Y PL ANNING SCHE DUL E

E xpansion DF S c omple te d Q4 2017

MIL E ST ONE S

Ne w DF S is e sse ntia lly just a n e xpa nsion study to de rive e c onomie s of sc a le a nd re duc e unit ope ra ting c osts.

slide-20
SLIDE 20

T E AM ASSE T S APPROVAL S L OW COST E xe c utive s with ur

a nium pe dig r e e,

pro je c t ma na g e me nt, de ve lo pme nt, fina nc ing , a nd o pe ra tio na l e xpe rie nc e Ho ne ymo o n Ura nium a sse t in So uth Austra lia Unde re stima te d ura nium pro vinc e

Sig nific a nt str ike e xte nsion pote ntia l

Ne c e ssa ry pe rmits in pla c e

Only non- pr

  • duc ing

pr

  • je c t in Austr

a lia lic e nse d to be br

  • ug ht into

pr

  • duc tion

He rita g e Na tive T itle mining a g re e me nts a ppro ve d E xpa nsio n Study hig hlig hts lo w CAPE X e xpa nsio n (US$57m)

2mlbpa a nd AISC of US$24/ lb

20

COMPE T IT IVE ADVANT AGE

A fully built a nd pe rmitte d ope ra tion is a g re a t a dva nta g e .

slide-21
SLIDE 21
  • Ke ith Bowe s Pr
  • je c t Manage r

Mr Bo we s is a pro c e ss e ng ine e r with 20 ye a rs’ e xpe rie nc e in me tallurg y, pro je c t mana g e me nt and o pe ra tio ns. He ha s wo rke d in Afric a , So uth Ame ric a and Australia fo r the ma jo r mining ho use s o n pro je c ts and plants c o ve ring a wide rang e o f c o mmo ditie s and pro c e sse s. He ha s be e n invo lve d in a numbe ro f te c hno lo g y de ve lo pme nts a nd ha s suc c e ssfully inc o rpo ra te d the se into va rio us pro je c ts a nd o pe ra ting pla nts.

  • Ne il Inwood Ge ology Manage r

Mr I nwo o d ha s 22 ye a rs’ inte rna tio nal multi-c o mmo dity pro je c t and c o nsulting e xpe rie nc e and ha s c o nsulte d o n uranium pro je c ts in Australia , Afric a , the USA a nd So uth Ame ric a . MrInwo o d is a F e llo w o f the Austra lia n Institute o f Mining a nd Me ta llurg y.

21

E XPE RIE NCE D DIRE CT ORS & MANAGE ME NT

  • E

van Cr anston Cor

por ate Dir e c tor

MrCra nsto n is a c o rpo ra te la wye r with e xpe rie nc e in pub lic ly liste d e ntitie s inc luding c a pita l ra ising s, o ffe ring s, a nd lia iso n with ma rke t a na lysts a nd inve sto rs.

  • Mar

at Abzalov Dir

e c tor

  • Ge ology

Dr Ab za lo v ha s a PhD in Ge o lo g y. Ma ra t ha s re c e ntly c o mple te d a n invite d study o f ISL style s o f mine raliza tio n, inc luding tho se in Austra lia . He is a lso a n e x-E xplo ratio n ma na g e r fo r Rio T into E ura sia , with e xte nsive e xpe rie nc e in K a za khsta n ura nium pro je c ts.

  • Pe te r

Williams Dir

e c tor

MrWillia ms is a n e xplo ra tio nist/ g e o physic ist with o ve r 30 ye a rs e xpe rie nc e . He ha s e xte nsive e xpe rie nc e in We st Afric a , Austra lia , F e nno sc a ndia, a nd Ca na da.

  • Gr

ant Dave y Dir

e c tor

MrDa ve y is a mining e ng ine e r with 20 ye a rs o f se nio r ma nag e me nt a nd o pe ra tio nal e xpe rie nc e in the c o nstruc tio n a nd o pe ra tio n o f Ura nium, g o ld, pla tinum a nd c o a l mine s in Afric a , Austra lia , So uth Ame ric a a nd Russia .

  • Mar

k Hohne n Chair

man

Mr Ho hne n ha s e xte nsive inte rna tio nal b usine ss e xpe rie nc e in a wide rang e

  • f industrie s. He

is c urre ntly a Bo a rd me mb e r o f Swa ko p Uranium and wa s the fo unding E xe c utive Chairman o f K a la hari Mine ra ls Plc .

  • Dunc an Cr

aib Chie f E

xe c utive Offic e r

Mr Cra ib ha s b e e n a ppo inte d to le a d the ne xt sta g e

  • f

de ve lo pme nt fo r the Pro je c t. Mr Cra ib is e x-F ina nc e Dire c to r to Swa ko p Ura nium (Pty) L td a nd e x-CF O to K alaha ri Mine rals Plc . Mr Cra ib ha s b e e n he avily invo lve d in the US$2.5 b illio n de ve lo pme nt and c o nstruc tio n o f the ne a r c o mmissio ning Husab ura nium mine in Na mibia.

slide-22
SLIDE 22

22

AUST RAL IAN PE E R COMPARISON

ASX L IST E D ST OCKS - BOSS is hig hly le ve ra g e d to ura nium pric e inc re a se s.

Compa ny Initia l Ca pe x (US$) Mining Pe r mit Re sour c e mlb Gr a de ppm Mining T ype Ma r ke t Ca p 1 (AUD$) E V1 (AUD$) E V / R e sour c e C1 Costs (US$/ lb) Pe ninsula R e sour c e s (ASX:PEN)

$33.0m 2 (sta g e 1)

54 476 ISL 135.7 $161.1 $3.0 $29.2

Be r ke le y R e sour c e s (ASX:BK Y)

$95.7m3

89 514 Ha rd ro c k Ope n pit 293.9 $252.6m $2.8 $13.3

Boss R e sour c e s (ASX:BOE ) Constr uc te d E xpa nsion $57m

58 654 ISL 69.5 $67.8m 4 $1.2 $16.0 T

  • r
  • E

ne r g y (ASX:T OE)

$193.5m5

84 482 Bulk surfa c e Ope n pit 110.4 $114.5m $1.4 $31.0

Vimy (E ne r g y & Mine r a ls) (ASX:VMY)

$287.6m6

77 520 Surfa c e Ope n pit 76.0 $67.8m $0.9 $31.3

(5) ASX:T OE Announc e me nt 05/ 12/ 2016 – Cost be ne fits fr

  • m Be ne fic iation and Pr
  • c e ss De sign

(6) ASX:VMY Announc e ment 17/ 11/ 2015 – Re sults Pr e -F e asibility Study – Mulga Roc k Pr

  • je c t (A$1 : US$0.7019)

Assume d e xc hange A$1:US$0.75 – e xc luding VMY CAPE X c alc ulation Note s: (1) IRE SS – 01/ 02/ 2017, Quar te r ly Ac tivity/ Cashflow Re por ts 31/ 12/ 2016 (2) ASX:PE N Announc e me nt 12/ 07/ 2016 – Company Pr e se ntation July 2016 (3) ASX:BKY Announc e me nt 04/ 11/ 2016 – Inve stor Pr e se ntation (4) Inc lude s pr

  • c e e ds (le ss c osts) fr
  • m Januar

y $6.8m c apital r aise (5) ASX:T OE Announc e me nt 05/ 12/ 2016 – Cost be ne fits fr

  • m Be ne fic iation and Pr
  • c e ss De sign

(6) ASX:VMY Announc e ment 17/ 11/ 2015 – Re sults Pr e -F e asibility Study – Mulga Roc k Pr

  • je c t (A$1 : US$0.7019)

Assume d e xc hange A$1:US$0.75 – e xc luding VMY CAPE X c alc ulation

slide-23
SLIDE 23

23

URANIUM PE E RS

COST ANAL YSIS – ASX Ura nium Compa nie s

Pe ninsula (USA)

ASX:PE N 2.3mlb pa (Sta g e 3) CAPE X $150m AIC $29/ lb

Banne r man (Namibia)

ASX:BMN 7mlb pa (L OM) CAPE X $793m OPE X $38/ lb

A-Cap (Botswana)

ASX:ACB 2.2mlb pa CAPE X $351m OPE X $41/ lb

Be r ke le y (Spain)

ASX:BKY 4mlb pa CAPE X $230m ($95m initia l) AIC $17/ lb

T

  • r
  • (Austr

alia)

ASX:T OE 2mlb pa CAPE X $240m C1 Co st $31/ lb (AIC no t q uo te d)

Vimy (Austr alia)

ASX:VMY 3mlb pa CAPE X $290m C1 $31 AIC $49/ lb

Boss (Austr alia)

ASX:BOE 2mlb pa CAPE X $57m AIC $24/ lb

Paladin (Namibia)

ASX:PDN In pro duc tio n 4.75mlb pa OPE X $38/ lb

Athabasc a Basin (Canada)

Ultra hig h g ra de 1% plus Ho we ve r ultra hig h c o sts T ypic a l CAPE X ~ $1 Billio n T ypic a l OPE X $20-30/ lb

Kazakhstan

Pro duc e s ~ 40% wo rld ura nium ISL pro duc tio n T ypic a l OPE X $20-30/ lb

slide-24
SLIDE 24

Contac t de tails: Dunc an Cr aib Chie f E xe c utive Offic e r +61 (0) 488 038 967 dunc an@bossr e sour c e s.c om.au Suite 23, 513 Hay Str e e t Subiac o, WA 6008 +61 8 6143 6739