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

Corporate Presentation October 2019 l

DISCLAIMER 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 opinions 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 opinions 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 of oil and gas. 1

ALBA’S BOARD AND MANAGEMENT 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 Geologist with over 20 years’ experience, including with (Mining) Rio Tinto, BHP Billiton, Iluka Resources, WMC and Anaconda Nickel Feroz Sultan Technical Director Petroleum geologist with over 40 years of diverse (Oil & Gas) experience, and has managed both onshore and offshore 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) 2

ALBA SNAPSHOT  Diversification Mining Assets and Oil & Gas Investments  Stability Operating only in Low-Risk, Resources-Friendly Jurisdictions  Thule Black Sands: Ilmenite : High-Grade  High-Grade  Amitsoq Graphite: High-Grade  Production Potential  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 * At 09/10/2019 3

ALBA’S OPERATIONS 4

CLOGAU GOLD MINE 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… 5

CLOGAU GOLD MINE The last mining took place in the late 1990s… 6

CLOGAU GOLD MINE: REHAB We have completed significant in-mine rehabilitation works …including constructing an entirely new …and installation of 60m of ladder ways roof section in the Lower adit between the Upper and Lower adits 7

CLOGAU GOLD MINE: CLEAN-UP POTENTIAL We have collected four tonnes of mined and unprocessed material… …and there are tens of tonnes still to be collected 8

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 … 9

CLOGAU: HUGE REGIONAL GOLD POTENTIAL 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 only ~30% of the Gold Belt

CLOGAU: NEW GOLD ANOMALIES 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 or 4x longer than strike extent of Clogau Mine 11

CLOGAU MINE: SURFACE DRILLING A high priority for drilling will be to target extensions to the Llechfraith mine Potential ore shoots are shown in dark yellow within the inset cross-section. 12

CLOGAU: SURFACE DRILLING CLOGAU: 2019 REGIO IONAL EXPLORATION  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 13

CLOGAU: GOLD PRICES When the Clogau Mine last shut in the late 1990s, gold price was just $300/oz… October 2019 Mine closed 14

CLOGAU: PREMIUM GOLD PRICES 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. 15

HORSE HILL OIL FIELD 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 Horse Hill Licences, PEDLs 137 & 246 (yellow) million barrels¹ HH-2/2z well currently being drilled  Note 1: Estimated OIP hydrocarbon volumes should not be construed as recoverable resources or reserves and also should 16 not be construed in any way to reflect potential producibility of hydrocarbons from the formations evaluated.