October 2019 l DISCLAIMER This presentation is made on behalf of - - PowerPoint PPT Presentation

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Corporate Presentation October 2019

DISCLAIMER

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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. No reliance may be placed by any person for any purpose whatsoever on the information or

• pinions 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 directors, officers or employees or any other person as to the accuracy or completeness of the information or

• pinions 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. 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. All statements (other than statements of historical fact) included within this presentation, including without limitation, the strategies, plans, expectations and objectives 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 circumstances to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. These statements are illustrative only 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. Forward-looking statements may also 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 operators of projects in which the Company has invested (together “investee companies”). The total amount, rate or timing of actual future production may vary from estimates, projections and targets. Those forward-looking statements have not been independently verified by the Company. 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 (BSc (Hons) Geology, MSc, Petroleum and Structural Geology, Karachi and MSc Petroleum Geology, Imperial College London), a petroleum geologist with over 45 years' experience in the management, exploration, development and production

• f oil and gas.

ALBA’S BOARD AND MANAGEMENT

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George Frangeskides Executive Chairman Over 25 years’ experience in natural resources, corporate advisory & legal sectors in the UK, Europe, Africa and Australia 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, including with 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, and has managed both

• nshore

and

• ffshore oil and gas field developments

Sarah Potter Head of Finance Chartered Accountant with over 10 years’ experience in industry, including with Jaguar Land Rover, CBRE and Anglo American (Tarmac)

ALBA SNAPSHOT

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* At 09/10/2019

Diversification

• Mining Assets and Oil & Gas Investments

Stability

• Operating only in Low-Risk, Resources-Friendly

Jurisdictions

High-Grade 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 
• Horse Hill: Near-Term Oil Production 
• Melville Bay: JORC Resource 

Market AIM Share Price 0.19p* Symbol ALBA Market Cap £6.8mil

ALBA’S OPERATIONS

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CLOGAU GOLD MINE

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80,000 troy ounces produced historically… …the UK’s largest ever source of gold… The Mine last closed in 1998… …when gold was at $300 per ounce…

CLOGAU GOLD MINE

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The last mining took place in the late 1990s…

CLOGAU GOLD MINE: REHAB

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We have completed significant in-mine rehabilitation works

…including constructing an entirely new roof section in the Lower adit …and installation of 60m of ladder ways between the Upper and Lower adits

CLOGAU GOLD MINE: CLEAN-UP POTENTIAL

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We have collected four tonnes of mined and unprocessed material… …and there are tens of tonnes still to be collected

CLOGAU MINE: UNDERGROUND DRILLING

The plan is to drill up to 1,000m from existing underground development. Drilling is proposed at various locations along the Tyn Y Cornel and Llechfraith levels as shown right…

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UNPRECEDENTED REGIONAL-SCALE EXPLORATION

• Systematic 12-month regional

soil sampling campaign

• Gold mineralisation confirmed

across ~9 km of the Gold Belt

• Weighted average gold-in-soil

grades for new anomalies exceed those for historic mines

• Samples collected to date cover
• nly ~30% of the Gold Belt

CLOGAU: HUGE REGIONAL GOLD POTENTIAL

CLOGAU: 10 NEW GOLD ANOMALIES UNEARTHED

Yellow areas = new anomalies (no historic mining) Red areas = historic mining areas Largest new anomaly (Areas 1&10) has strike extent of 2km

• r 4x longer than strike extent
• f Clogau Mine

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CLOGAU: NEW GOLD ANOMALIES

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CLOGAU MINE: SURFACE DRILLING

Potential ore shoots are shown in dark yellow within the inset cross-section. A high priority for drilling will be to target extensions to the Llechfraith mine

CLOGAU: 2019 REGIO IONAL EXPLORATION

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CLOGAU: SURFACE DRILLING

 Plans are being finalised for drilling from surface down into the underground workings, targeting the main planes of mineralisation  22 drill holes are planned for 5000m of drilling

CLOGAU: GOLD PRICES

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When the Clogau Mine last shut in the late 1990s, gold price was just $300/oz…

Mine closed October 2019

CLOGAU: PREMIUM GOLD PRICES

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Clogau gold typically fetches a significant premium over the spot price, due to its scarcity, Welsh heritage and Royal connections

The above lot of 17 grams of Clogau gold was sold at auction in June 2019 (www.rogersjones.co.uk) for £6,800 (or US$8300), being 10 times the current spot price (17 grams of gold being worth only ~$820 at a spot price of $48/g or $1,493/oz) Background photo: The wedding band of Meghan, Duchess of Sussex, made from gold from the Clogau-St. David’s Mine. Clogau-St. David’s has provided the gold for several generations of royal wedding bands, including those of the Queen Mother, Her Majesty the Queen, Princess Margaret, Anne, Princess Royal, Diana, Princess of Wales and Catherine, Duchess of Cambridge.

HORSE HILL OIL FIELD

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Alba has an 11.765% Interest in Horse Hill (PEDLs 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

• HH-2/2z well currently being drilled

Horse Hill Licences, PEDLs 137 & 246 (yellow)

Note 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.

HORSE HILL OIL FIELD

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• Extends over 2000 acres
• Two discoveries: Collendean Farm-1 (Esso, 1964) & Horse Hill-1 (HHDL, 2014)
• Portland Sandstone Estimated P50 Stock Tank Oil in Place (“STOIP”) is 32 Million Stock Tank Barrels

(“MMSTB”) (Xodus CPR, Feb 2017)¹

• Estimated

Unconventional STOIP Kimmeridge Limestones and Shales: 10 Billion Barrels (Schlumberger, Aug 2015)¹ Horse Hill Oil Field

Note 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.

HORSE HILL: TEST PRODUCTION

• Portland declared commercially viable (Oct 2018)
• Continuous Portland oil flow: 220 barrels of oil per day (“bopd”) (April 2019)²
• Total extended well test (“EWT”) production figures (Oct 2019)
• 71,368 barrels (“bbl”) aggregate Kimmeridge/Portland production
• Kimmeridge KL3/KL4: one single oil pool of 358 ft in vertical extent
• Average daily rates of up to 307 bbl of oil per day recorded following the

resumption of production in Sep 2019²

• EWTs ongoing since July 2018 (14 months)
• Planning approval (Sep 2019): covers 25 years of production up to 3,500 bopd from

six wells, including the existing Horse Hill-1 (“HH-1”) and the forthcoming HH-2/2z horizontal well²

• Targeting transition from EWT production into permanent production by the end
• f 2019

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

HH-1

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0m (surface)

Note 2: There can be no guarantee that forecast, targeted or calculated rates of production or oil recoveries will be achieved. Actual rates

• f production and recoveries will depend upon actual reservoir performance over time.

HORSE HILL: NEW HH-2/2z WELL

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• Drilling operations commenced Sep 2019
• HH-2 to be drilled to ~3,000 ft, then moving to HH-2z horizontal section of ~3,200 ft

within Portland Sandstone reservoir's most productive zone¹

• Operator targeting volumes significantly higher than forecast of 362 bopd³ from a fully
• ptimised vertical Portland discovery well

Courtesy of UKOG (Presentation Nov 2018) Note 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. Note 3: Forecast potential HH-1 vertical rate per HHDL’s consultants Xodus Group ("Xodus") being that, subject to successful well optimisation, HH-1 Portland vertical the well is capable of achieving 24/7 pumped rate of 362 bopd.

GREENLAND: OVERVIEW

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

• Supportive authorities committed to

resource extraction

• Established local mining economy:

logistics, training, services

• World-class deposits

ALBA’S GREENLAND ASSETS: OVERVIEW

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A portfolio of projects in high-value minerals  JORC Resources  Thule Black Sands  Melville Bay  High-grade projects  Thule Black Sands  Amitsoq  Frontier exploration  Inglefield  Melville Bay

High-grade ilmenite from Alba’s Thule Black Sands Project

THULE BLACK SANDS (TBS)

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• Mineral sands rich in ilmenite
• Primary source of titanium dioxide
• Very high Total Heavy Mineral (“THM”) content:

46.7% av.

• Very high in-situ ilmenite content: 10% av.
• Maiden JORC Resource of 19MT@ 43.6% THM

with in-situ ilmenite grade of 8.9%.

• Contained Ilmenite of 1.7 MT (Life of Mine>6

years for 3MTPA operation).

• On same mineralised coast as Dundas Project

(117Mt @ 6.1% ilmenite)

Alba Licence MEL 2017/29 (blue)

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

High-Grade Raised Terrace Mineralisation High-Grade Active Beach Mineralisation

TBS: ILMENITE & TiO2 FACTSHEET

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“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 Plastic Titanium Used as an alloy in aerospace & military applications Industrial Other Uses Inks & Cosmetics Fibres & Rubber Food & Pharma Cosmetics Pharmaceuticals  Ilmenite (FeTiO3): an iron titanium dioxide  Titanium dioxide (TiO2): the principal feedstock for pigment production

TBS: INFRASTRUCTURE

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Multiple sheltered bays exist on Alba’s licence area, suitable for infrastructure locations

TBS: INFRASTRUCTURE

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• Qaanaaq: workforce & logistics
• Deep-water port
• Thule Air Base & Qaanaaq Airport

Existing local infrastructure to support exploration and exploitation

TBS location shown by blue circle

Qaanaaq – Population >600 Qaanaaq Airport Thule Airbase

2610

• xx

Helicopter Assisted Auger Sampling Programme Undertaken Raised Beach Extensive Raised Beaches Active / Raised Beaches Raised Beach Active Beach

TBS: 2017 FIELD PROGRAMME

TBS: 2018 FIELD WORK

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• Extensive drilling
• 10km total mineralised strike length confirmed
• Three 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 above (shaded rectangles) Bulk sampling (above and right)

TBS: 2019 MAIDEN JORC RESOURCE

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• Mineral Resource

Estimate (MRE) by IHC Robbins:

• Inferred

Resource: 19.0 Million Tonnes @ 43.6% THM

• In-situ

Ilmenite grade

• f

8.9% for contained ilmenite of 1.7 Million Tonnes

• Mine life of > 6 years

for a 3MTPA

• peration
• Ilmenite

within HMC ranges from 45.6% to 47.4% TiO2 with very low contaminant levels

High-Grade Raised Terrace Mineralisation

Drilled and Modelled Zones together forming the MRE

TBS: NEXT STEPS

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High-Grade Raised Terrace Mineralisation

• Increase resources by drilling through permafrost and extension

drilling

• Sample and drill near-offshore mineralisation
• Complete second year of environmental baseline studies
• Commission Pre-Feasibility Study

s

AMITSOQ: HIGH-GRADE GRAPHITE

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An exceptionally high-grade graphite deposit and former mine 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

Above: channel sampling at Amitsoq

Alba Licence MEL 2013/06 (blue)

AMITSOQ: HIGH-GRADE GRAPHITE

Alba Licence Area Outlined in Red

 Two distinct graphite deposits  With the world’s highest average graphite grades (Amitsoq: 28.7%, Kalaaq: 25.6%)  The Amitsoq Mine operated until the 1920s  The Kalaaq Graphite Discovery was made by Alba  Amitsoq graphite can be traced over ~1 km  Thick graphite layers at Kalaaq can be traced

• ver ~0.5 km

 Phase 1 Metallurgical testwork has confirmed:  marketable grade concentrate (97.3% graphitic carbon) at high recoveries (+99%)  The Project is now “drill-ready”  Phase 2 Metallurgical testwork is underway

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AMITSOQ: WORLD-CLASS GRADES

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Global Graphite Projects ranked by average grade (% graphite) (Industrial Minerals, August 2015, adapted)

Amitsoq (below, in red) has higher average graphite grades than any other advanced graphite project recognised globally (below, in blue)

(% graphite) 30 25 20 15 10 5

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Testwork shows exceptional grades at Amitsoq deposit of ~ 28% total graphitic carbon (“TGC”) 2015 Further geochemistry shows high-grade graphite with low detrimental elements Bulk sampling completed along 48.5m strike length Airborne EM and magnetic survey completed: identifies several new faults, numerous anomalies and potential strike length of 12km 2016 2017 Metallurgical work confirms Amitsoq among highest-grade graphite in world with +99% recovery Field work identifies multiple new graphite beds: Kalaaq mainland discovery with multiple thick graphite layers for at least 460m – plus two approx. 1000m graphite beds in Amitsoq mine area Testwork shows Kalaaq discovery has high grades ~ 25% Drill locations finalised, construction of drill pads completed – Project drill ready 2018

AMITSOQ: MILESTONES ACHIEVED

2019 Phase 2 Metallurgical Testwork underway – results expected imminently

GRAPHITE: IN DEMAND

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“Global graphite market expected to reach $18 billion by 2020” (Emerald Insight)

Identified by the EU and USA as a mineral in critical supply

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

AMITSOQ: FUTURE PLANS

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

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

INGLEFIELD: MULTI-ELEMENT POTENTIAL

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• Same region in N-W Greenland as Thule Mineral Sands project –

logistical benefits

• High-value commodities: cobalt, copper, gold, vanadium, nickel
• Alba’s licence areas cover principal targets previously worked by Nuna

Minerals

• Nuna sampling included:
• Cobalt up to 0.16%
• Copper up to 1.39%
• Gold up to 1.7g/t
• Copper-zinc volcanogenic massive sulphide (VMS) and IOCG* potential

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

*IOCG: Iron oxide, copper, gold deposits

INGLEFIELD: IOCG POTENTIAL

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Targeting large-scale, IOCG style deposits

• Kap Agassiz/Bear Island: 0.65 g/t gold, 1.65% copper, 18.6 g/t silver
• Four Finger Lake: 0.36 g/t gold, 0.18% copper, 13.35 g/t silver, 0.11% moly
• 2019 TECT/XPotential Report:
• Four Finger target prospective for IOCG
• South-west target prospective for Carbonate-hosted Zn-Pb & cobalt

Inglefield licenses shown in black outline

MELVILLE BAY: IRON ORE

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 On same geological belt (above) as ArcelorMittal Mary River Deposit (>350Mt at 64% Fe)  Maiden inferred resource: 67 Mt @ 31.4% Fe  Previous drilling at Haematite Nunatak confirmed haematite mineralisation (48.7m @ 39.61% Fe with 0.6m @ 68.18% Fe)  Data analysis programme and commissioning of PEA scheduled in advance of exploration

Magnetite rich banded iron formation (L), Core samples (R)

A drilled iron ore project in N-W Greenland with a JORC resource and DSO* potential

*DSO: Direct shipping ore, high grade haematite

VALUE DRIVERS

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Near-term (0-12 months) growth to be driven by:  Drilling at Clogau Gold Mine  Drilling Maiden JORC Resource (Amitsoq)  Increasing JORC Resource (TBS)  Joint Venture/Divestment programme  Commencement of commercial production (Horse Hill) Medium-term (12-36 months) growth to be driven by:  Production revenues (Horse Hill)  Commencement of commercial production (Clogau)  Progressing to PFS (Amitsoq and TBS)  Offtake partners (Amitsoq and TBS)

CONTACT DETAILS

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