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Investment Opportunity in Advanced . Exploration 1 . Note 1 : Advanced Exploration: Defined as confirmed mineralisation, immediate drill targets & exploration upside Duke Exploration / Investor Presentation 1 Disclaimer This


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SLIDE 1

Investment Opportunity in

Advanced

. .Exploration 1 Duke Exploration / Investor Presentation 1

Note 1 : Advanced Exploration: Defined as confirmed mineralisation, immediate drill targets & exploration upside

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SLIDE 2

Disclaimer

Duke Exploration / Investor Presentation

2

  • This Presentation (“Presentation”) is for informational purposes only and is not a prospectus, disclosure document or offer document under the Corporations Act 2001 (Cth)

(“Corporations Act”) or any other law. This Presentation does not constitute, and is not to be construed as, an offer to issue or sell, or a solicitation of an offer or invitation to subscribe for, buy or sell securities in Duke Exploration Pty Limited ABN 28119421868 (“Duke”, “DE DE” or “th the Company”) as set out herein. Novus Capital Limited (AFSL No 238168) (ABN 32 006 711 995) is assisting the Company with the capital raising detailed in this document.

  • The material in this Presentation has been prepared by the Company and contains summary information about the Company’s activities. The truth or accuracy of the

information in this Presentation cannot be warranted or guaranteed by the Company. The information in this Presentation is of a general background nature and does not purport to be complete or contain all the information security holders would require to evaluate their investment in the Company. It should be read in conjunction with any periodic and continuous disclosure announcements to be made available by the Company at https://duke-exploration.com.au/. Other than to the extent required by law (and

  • nly to that extent) the Company and its officers, employees and professional advisors make no representation or warranty (express or implied) as to, and assume no

responsibility or liability for, the contents of this Presentation.

  • This Presentation does not purport to contain all information that recipients may require to make an informed assessment of the Company or its securities. Statements in this

Presentation are made only as at the date of this Presentation unless otherwise stated and remain subject to change without notice. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained in this Presentation, or any omission from this Presentation. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Presentation on any matter that subsequently comes to its notice which may affect the information contained in this Presentation, and undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Nothing in this Presentation shall under any circumstances create an implication that there has been no change in the affairs

  • f the Company since the date of the Presentation.
  • This Presentation contains forward-looking statements regarding the Company and the potential of its current and future projects. Forward-looking statements can be identified

by the use of forward-looking language such as “plans”, “expects”, “budgets”, “schedules”, “forecasts”, “anticipates”, “believes”, “intention is” or variations thereof, and statements that certain actions or results “may”, “could”, “would”, “might”, “will occur” or “will be achieved”. Forward-looking statements are based on the opinions and estimates of the Company as at the date such statements are made. Forward-looking statements are subject to known and unknown risks that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify and account for these risks, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the Presentation should be used as a general guide only and recipients should not place undue reliance

  • n forward-looking statements contained in this Presentation. The Company does not undertake to update any forward-looking statements except in accordance with applicable

securities laws.

  • Not financial product advice or offer.
  • This presentation does not constitute investment advice, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any

contract or investment decision. Information in this Presentation, including forecast financial information, should not be considered as advice or a recommendation to investors

  • r potential investors in relation to holding, purchasing or selling securities. Before acting on any information, you should consider the appropriateness of the information having

regard to these matters, any relevant offer document, your own objectives and financial situation and in particular, you should seek independent financial advice appropriate to your particular circumstances.

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➢ Duke Exploration (Duke) has access to unique State of the Art , , big ig data, and 3D analytical techniques (heuristics). ➢ Dig igital Data Analysis all llows hidden and overlooked la large-scale mineralised systems to be id identified through recognition of certain sig ignatures. ➢ These techniques reduce exploration ris isk, , cost and time. ➢ Duke has id identified and secured fiv ive major advanced stage exploration in in Eastern Australia (Qld & NSW) which potentially have la large-scale Copper (Cu), Gold (Au) and Cobalt (Co) resources. ➢ Duke is is focussed on advanced stage exploration (enhanced success rate using spatial data modelling).

3

IPO Prospectus

FOR LISTING LATE 2019 - EARLY 2020

Duke Exploration / Investor Presentation

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Unique in its Exploration Methodology

➢ The selection of all six tenements was based on a rigorous application of various mineral system models using sophisticated and proprietary statistical spatial data analysis. ➢ Validation of exploration data confirmed and drill targets selected.

FOOTER

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Focusing On

➢ Advanced Stage Exploration Projects. ➢ Large scale copper, gold and cobalt systems in Australia.

THE DIFFERENCE

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Duke Exploration / Investor Presentation

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Benchmark Data Technology New Deposit

The Difference

Known Mine

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THE PEOPLE

Duke’s governance experience is a fundamental aspect of managing a successful ASX listed company.

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➢ Well credentialled, experienced team. ➢ Public Company Board and Management Team with long history of successful exploration and Mine Development. ➢ Scientific, technical, corporate and governance experience. ➢ Worked together for the past 28 years, (exploring, building and operating mines).

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ALLIANCE

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➢ Kenex is a geological consulting company that uses world leading digital analysis techniques to detect 3D signatures related to various styles of mineralisation. ➢ Duke‘s exploration projects were selected and acquired on the basis of Kenex targeting techniques. ➢ Duke has a priority Strategic Alliance Agreement with Kenex (covering Eastern Australia) including input on validation of the exploration strategy, as well as new target generation.

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OPPORTUNITY

  • 100% interests in 5 tenements focused on potential

“company maker” gold, copper and cobalt opportunities within Qld & NSW.

  • An additional tenement Prairie Creek under application (to

be granted soon).

  • Drill ready targets to validate modern mineralisation

concepts absent in historical exploitation strategies.

  • Up to 10% Free Carried Equity in Lachlan Resources Pty

Ltd, a wholly owned subsidiary of Emmerson Resources (ASX: ERM) covering a new porphyry system.

  • Duke currently adding value to Bundarra Copper project

prior to listing 2019/20

  • Duke is planning to raise $4.5M in IPO. 2019/20

Duke Exploration / Investor Presentation

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Duke Exploration / Investor Presentation

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PROSPECT

PRAIRIE CREEK EPM 26852 READY TO GRANT

MOUNTAIN VIEW T0RSDALE GOSSAN WEST PRAIRIECREEK TARRAMBA

CREEK

91% DUKE: 9% CAPGOLD PTY LTD

(C (CAPGOLD FREE CA CARRIED TO BF BFS )

(ADVANCED STAGE EXPLORATION)

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Duke Exploration / Investor Presentation

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PRAIRIE CREEK EPM 26852

(APPLICATION)

➢ Tenement covers numerous historical occurrences

  • f gold mineralisation associated with Grandore

granitic complex and Camboon Volcanics of the Auburn Arch. ➢ Located in established mineral province, between Theodore/Cracow (80km to S in same belt of rocks: 2 Moz Au) and Mt Morgan (9 Moz Au). ➢ Encompasses prospective area now recognised for both low and high sulphidation styles of epithermal gold mineralisation and porphyry gold and copper mineralisation. ➢ Heads of Agreement with Capgold Pty Ltd, which provides 9% free carried interest up to BFS.

Drill Section

1,600m Soils 2.04-5.3 g/t Au

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Duke Exploration / Investor Presentation

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Drilling intersecting from surface: 52 m @ 2.1 .1 g/t in including:

  • 10 m @ 3.2

.2 g/t

  • 6m @

@ 6.5 .5 g/t Au.

PRAIRIE CREEK EPM 26852

(APPLICATION)

➢ Environmental Approval finalised. ➢ Bond finalised and paid. ➢ Exploration work program approved. ➢ Native Title advertising in progress. ➢ Permit to be issued after Native Title Notification.

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PROJECTS

Duke Exploration / Investor Presentation

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Bundarra: EPM 26499

ADVANCED STAGE EXPLORATION: POTENTIAL COMPANY MAKER

➢ Highly prospective tenement, with historic U/G and surface mining. ➢ Geological evidence for a significant porphyry system. Should be viewed in the context of a major porphyry related system ➢ Past drill intersections with significant copper mineralisation are immediate targets for resource drilling and mining. ➢ Previous drill results also confirm the potential for gold and silver rich systems.

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PROJECTS

Duke Exploration / Investor Presentation

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Bundarra: EPM 26499

HIGHLY ANOMALOUS COPPER: 0.5-3.1% CU UNTESTED

➢ Five geochemically anomalous centres. The largest is 5 km2 in size. ➢ Very high grade copper at surface. ➢ Most not yet drill tested. ➢ Anomalous gold and silver also present with the copper.

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Duke Exploration / Investor Presentation

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Drill intersections:

Mt Flo lora (E (Endeavor Oil il Co 1975)

  • 7.3

.34 m @ 0.9 .9% Cu

  • 18.29 m @ 1.3

.3% Cu

  • 2.5

.56 m @ 2.3 .3% Cu

  • 5.4

.40 m @ 0.6 .6%Cu

  • 6.2

.24 m @ 0.5 .5% Cu

  • 19.17 m @ 1.0

.0% Cu

  • 15.56m @ 0.7

.7% Cu

  • 2.7

.71 m @5.6% Cu Recent underground mining, with EM anomaly, Cu- Au surface geochemical anomalies.

  • Estimated potential tonnage from underground

sampling and mapping: 3MT @ 2.6% Cu (Historical assessment, not JORC compliant). Mt Flo lora (R (Regency Resources 2006)

  • 1 m @ 1.3

.38% Cu Quorn/Monarch (M (Marlborough Gold ld Min ines 1991)

  • 46 m @ 0.5

.58 % Cu from top of hole in MFP1

  • 44 m at 0.4

.46 % Cu from top of hole in MFP2 Is Isen (R (Regency Resources 2005)

  • mineralised brecciated surface associated

with +4% Cu & 2 g/t Au geochemical anomaly) Ir Iron Duke (R (Regency Resources 2006)

  • 1 m @ 1.37% Cu

Bundarra EPM 26499

ADVANCED STAGED EXPLORATION

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Duke Exploration / Investor Presentation

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➢ Highly ranked IOCG Cu-Co-Au. ➢ 3D geology modelled and drill ready targets generated. ❖ Archer – Identified Cu-Au-Co mineralised zones to be drilled. ❖ Ja Jasper – known zones to be extended. ➢ Close to Cloncurry, producing mines and infrastructure. (e.g. Ernest Henry Mines Total reserve + resource prior to the commencement of mining in 1998 was 166 Mt @ 1.1% Cu, 0.54 g/t Au.

CLONCURRY EPM 19253

IRON OXIDE COPPER GOLD (IOCG) TARGETS

Archer Prospect Jasper Prospect Oonoomurra Prospect

(100% DUKE)

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Duke Exploration / Investor Presentation

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Highly ranked IOCG target. Rock and soil Cu anomaly, magnetic and IP chargeability highs. Historical drilling:

  • 10 m @ 1.6

.65% Cu, , 0.1 .16 g/t Au

  • 10 m @ 1.2

.26% Cu, , 0.1 .19 g/t Au

  • 5.1

.1 m @ 2.1 .15% Cu, , 0.2 .2 g/t Au

  • 10 m @ 0.1

.15% Co

Highly ranked IOCG target. Magnetic and IP chargeability

  • highs. Historical drilling:
  • 10 m @ 1.4

.44% Cu, , 0.5 .59 g/t Au

CLONCURRY EPM 19253

(100% DUKE)

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Duke Exploration / Investor Presentation

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➢ 3D interpretation maps multiple ore grade zones that could represent a significant steeply dipping

  • rebody.

➢ Host immediate drill targets associated with previous encouraging cobalt intersections.

HOLE ID FROM (M) TO (M) INTERVAL (M) CO PPM

CA002RC

2 2 1060

CA008D

146 147 1 1440

CA008D

149 150 1 1040

CA008D

156 157 1 1050

CA009D

304 305 1 1070

CA009D

306 307 1 1160

CA009D

316 326 10 1546

CA009D

354 355 1 2160

CLONCURRY EPM 19253: ARCHER PROSPECT

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Duke Exploration / Investor Presentation

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➢ EL 8568 is 100% held by Duke and associated with porphyry style copper-gold mineralisation, within the Lachlan Fold Belt. ➢ Targeting Cadia look-alikes (37 M oz Au, 7.5 .5 Mt Cu). ). ➢ Surface results including 0.1 .17% Cu, , 11.5 .5 g/t Au support base metal and gold mineralisation . ➢ Historical workings highlight potentially multiple mineralisation styles including skarn, epithermal and VMS which may be related to buried porphyry intrusive sources. ➢ Magnetic images reveals a number of circular and sub-circular magnetic anomalies indicative of buried intrusions, (porphyries) and associated potential epithermal and skarn targets. ➢ These will be the focus of 3D data analysis targeting prior to drilling.

RED HIL ILL EL 8568 (100% DUKE)

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Duke Exploration / Investor Presentation

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RED HIL ILL EL 8568 : PORPHYRY POTENTIAL (100% DUKE)

Mineral Potential Map

Clustering of potential intrusions consistent with base metal endowment along major NNW trending geological boundary in EL 8568. Magnetic image analysis reveals a number of circular and sub-circular magnetic anomalies indicative of buried intrusions.

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Duke Exploration / Investor Presentation

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RED HIL ILL EL 8568 : PORPHYRY POTENTIAL (100% DUKE)

Mineral Potential Map

Clustering of potential intrusions consistent with base metal endowment along major NNW trending geological boundary in EL 8568. Magnetic image analysis reveals a number of circular and sub-circular magnetic anomalies indicative of buried intrusions.

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Duke Exploration / Investor Presentation

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COOMERANG EL 8539

➢ EL 8539 lies near the Gilmore Suture Zone, 5-15 km south of

the Adelong Gold Field.

➢ The Gilmore Suture Zone is a major geological

structure traversing the Lachlan Fold Belt and is associated with significant gold endowment.

➢ Specifically associated with:

  • Mineral Hill (1 Moz)
  • Cowal (6 Moz)
  • Gidginbung/Temora (4 Moz)
  • Adelong/Mt Adrah (1 Moz)

➢ EL 8539 contains untested drill targets associated with

historical gold workings, identified along 12 km+ strike length within the tenement.

Coomerang X

(100% DUKE)

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➢ Duke has a 10% free carried interest (to BFS) in four granted tenements in NSW targeting Cu-Au porphyry systems owned and explored by Emmerson Resources *, which recently completed a $2 million raising. ➢ Announcements by ERM in June 2018 regarding Fifield (EL 8464) describe that, based on mapped intrusives, including rock chip and auger sampling indicate copper-gold anomalism. ➢ This EL has “the hallmarks of an early stage porphyry copper- gold discovery”. ➢ Drilling targets aimed at testing new concepts are potentially eligible for state and federal exploration incentive funding contributions.

EMMERSON NSW: Porphyry Copper Targets

*Wholly owned Lachlan Resources ERM TENEMENTS

  • Exploration Licence No 8590 (Kiola)
  • Exploration Licence No 8463 (Wellington)
  • Exploration Licence No 8464 (Fifield)
  • Exploration Licence No 8652 (Temora)

Duke Exploration / Investor Presentation

Emmerson Resources Duke Exploration

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Proposed Two Year Exploration Budget

Duke Exploration / Investor Presentation

Prospect Geology Targeting Drilling and Geochemistry Geophysics Exploration Management

Prairie Creek $120,000 $141,000 $423,000 $45,000 $140,000 Bundarra $120,000 $104,000 $222,000 $59,000 $130,000 Cloncurry $100,000 $69,000 $308,000 $41,000 Red Hill $60,000 $62,000 $23,000 $30,000 $15,000 Coomerang $50,000 $55,000 $103,000 $12,000 Regional and New Areas $90,000 $40,000 Total $540,000 $431,000 $1,079,000 $134,000 $378,000 Grand Total $2,562,000

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Duke Exploration / Investor Presentation

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KEY SEED INVESTORS:

  • Westrade, Perth based investor.
  • Tuia Group, commercial consulting and law firm.
  • Wellington, NZ investors (Wellypreneurs).
  • M. Stokes and Dr G. Partington (Kenex founders).

SHARE STRUCTURE PRE IPO

PLACEMENT OFFER:

  • Shares rank equally.
  • Intention is to undertake IPO @ 20cps Late

2019/ early2020..

SHAREHOLDINGS % SHAREHOLDINGS

VENDORS

6,982,050 24.5%

SEED INVESTORS

16,351,811 57.3%

MANAGEMENT & EQUITY FOR SERVICES

5,181,000 18.2%

TOTAL

28,5 ,514,861 100%

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Indicative Capital Structure: Post IPO

ESTIMATE SHAREHOLDING POST-IPO ESTIMATED % SHAREHOLDING POST-IPO VENDORS

6,982,050 13.7%

SEED INVESTORS

16,351,811 32.1%

MANAGEMENT & EQUITY FOR SERVICES

5,181,000 10.2.%

IPO

22,500,000 44.1%

TOTAL

51 ,0 ,014,8 ,861 100% 100%

Duke Exploration / Investor Presentation

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Duke Exploration / Investor Presentation

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Further Information

FOR FURTHER INFORMATION REFER TO OUR INFORMATION MEMORANDUM AND/OR CONTACT:

Eugene Il Iliescu, Managing Director

md@duke-exploration.com.au Aus (+61) 0418 757 364

Toko Kapea, , Chairman

t.kapea@duke-exploration.com.au NZ (+64) 4 979 8270

  • r visit Duke’s website

www.duke-exploration.com.au