Project Portfolio
Tier one location
Mt Alexander
• High-grade Ni-Cu-PGEs discovered near-surface
with new, large-scale drill targets
• Prospective for lithium pegmatite
mineralisation
Paterson
• Prospective for copper-gold mineralisation
• Maiden diamond drilling completed with assays
pending
Ajana
• Large layered mafic intrusion interpreted from
magnetics
• Prospective for Ni-Cu-PGEs
Broadview
• Two large interpreted intrusions
• Prospective for Ni-Cu-PGEs 11.07m @ 1.58% Ni, 0.71% Cu, 1.23g/t total PGEs from 333.5m, including
Drill core from MAD199 that intersected:
3.9m @ 3.98% Ni, 1.8% Cu, 3.1g/t total PGEs from 340.6
ASX: SGQ | St George Mining Limited October 2022 3
Corporate Overview
Expertise to create value for shareholders
Directors and Management –
Vision and Experience for Success
Market Capitalisation Listed Shares John PRINEAS, Executive Chairman – founding shareholder with over
(3 Oct 2022) 25 years experience in mining, and the banking and legal sectors
servicing the resources industry.
$24m 700,017,808 John DAWSON, Non-Executive Director – over 30 years in the
finance and mining sectors where he occupied very senior roles with
Top 20 Shareholders Listed Options global investment banks Goldman Sachs and Dresdner Kleinwort
Wasserstein.
21% Nil Sarah SHIPWAY, Non-Executive Director/Company Secretary –
Chartered Accountant with extensive experience in advising listed
Directors & exploration companies.
Management Share Price (3 Oct 2022) Julian HANNA, General Manager – Growth and Development – over
35 years experience in exploration, development, mining and
5% $0.035 corporate growth. Former Managing Director of nickel miner
Western Areas and copper explorer MOD Resources, both
delivering new discoveries and growth during his leadership.
Cash (30 June 2022) Debt
Charles WILKINSON, Technical Consultant – over 35 years as a
$4.1m Nil geologist with 16 years at WMC including as Exploration Manager -
Nickel. Joined Western Areas in 2008 as General Manager
Exploration. During his 9 years at WSA, it grew its resource inventory
to become Australia’s No. 1 independent nickel sulphide producer.
Dave MAHON, Exploration Manager – joined St George in 2018 and
has supervised all exploration at Mt Alexander and our Paterson
Project. Gained specialist nickel sulphide expertise working with
Western Areas as a mine geologist and project exploration geologist.
ASX: SGQ | St George Mining Limited October 2022 4
Mt Alexander
Ni-Cu-PGE discoveries and
lithium potential
Excellent address:
• Tier 1 mining jurisdiction Western
Australia
• Nickel: Neighbouring major nickel
operations, including BHP’s flagship nickel
mines and IGO’s Cosmos mine
• Lithium: Along strike from new lithium
discoveries by Red Dirt Metals (ASX: RDT)
and Liontown’s (ASX: LTR) Kathleen Valley
lithium deposit
• Established mining region with access to
existing infrastructure, roads and power
• Clear pathway to market
About the Project: St George Mining Limited holds
100% of all the Mt Alexander tenements with the
exception of E29/638, which is held in joint venture
by St George (75%) and IGO Limited (25%).
St George is the Manager of the Project, with IGO
retaining a 25% non-contributing St George in the
Project until a decision to mine.
ASX: SGQ | St George Mining Limited October 2022 5
Mt Alexander
Fresh Ni-Cu-PGE sulphides near-surface
Large underexplored high-grade mineral system:
• Four shallow, high-grade discoveries over a 5.5km strike of the east-west trending
Cathedrals Belt – potential for mineralisation deeper and along strike
• Style of mineralisation at the Cathedrals Belt is very rare – combination of high-
grade nickel, copper, cobalt and platinum group metals
• Discoveries also made in the north-south trending Mt Alexander Belt which extends
for more than 7km and is underexplored
Metallurgical test work supports commercial potential:
• XPS (a Glencore company) completed test work (through conventional flotation)
• 27.8% Cu concentrate, and 11.5% Ni concentrate with potential to optimise
• Strong credits for PGEs (70% Pd, 10% Rh), Ag, Au and cobalt
From Width Ni Cu Co PGE
Prospect Hole
m m % % % g/t
MAD71 37.5 17.45 3.0 1.3 0.13 1.68
Stricklands including 39.3 5.30 4.4 1.5 0.21 2.09
and 50.6 2.02 5.1 2.0 0.21 3.31
MAD56 57.8 7.50 3.9 1.7 0.12 3.32
Cathedrals
including 61.8 3.15 6.4 2.9 0.20 5.03
Investigators MAD38 25.4 2.74 3.77 1.48 0.1 3.85
MAD127 183.9 8.49 5.8 2.6 0.18 3.61
Investigators Drill core from
including 184.4 6.39 6.5 2.8 0.21 3.68 MAD56
Radar MAD152 46 6.00 2.14 0.74 - 1.62
ASX: SGQ | St George Mining Limited October 2022 6
New nickel targets
Geophysics delivers again
• New nickel targets identified in the
granite/greenstone contact – not
previously explored
• Similar geological setting to the Flying
Fox discovery at Forrestania
• Priority target is a late-time EM
conductor modelled with conductivity
of 7,650 Siemens and a plate 200m x
400m
• Approx. 200m below surface and
thick granites that have intruded
the greenstone belt
• Four additional conductors
identified in this area
• Conductors are proximal to a
large reflective body (>800m)
recorded in the seismic survey
Top right: map of the Mt Alexander Project
(against magnetic RTP 1VD) showing the
recent seismic survey lines and MLEM survey
areas.
Bottom right: seismic data (looking west)
highlighting the strong reflector and adjacent
plate. Planned drill holes are also shown.
ASX: SGQ | St George Mining Limited October 2022 7
Lithium potential
Unexplored for lithium
• Numerous east-west striking pegmatite
dykes at Mt Alexander outcropping
across an area extending over 15km
• St George’s pegmatites are within the
north-south LCT pegmatite corridor
that extends southwards to lithium
discoveries of Red Dirt Metals (ASX:
RDT)
• In addition to St George and Red Dirt,
significant exploration is underway in
the province including:
• Zenith Minerals (ASX: ZNC) in joint
venture with EV Metals plc – see ASX
Release by Zenith dated 23 May 2022
New Lithium Exploration Project
Secured
• Hawthorn Resources (ASX: HAW) in
joint venture with Hancock Prospecting
– see ASX Release by Hawthorn
Resources dated 29 August 2022
Hancock executes agreement for nickel,
lithium and copper at Mt Bevan Project
ASX: SGQ | St George Mining Limited October 2022 8
Major field programme underway
Early success
• Lithium bearing minerals spodumene and
lepidolite have been interpreted from
visual observations at five pegmatite dykes
in a previously unexplored area at Mt
Alexander
• The pegmatite outcrops occur along a 1.7km
zone which remains open along strike south,
north and to the east (see map on right)
• Rock chip samples have been taken from
pegmatites within tenements: E29/962
(SGQ 100%) and within E29/638 (SGQ 75%,
IGO 25%), assays pending
• Soil sampling is also underway at E29/962 to
test for possible extensions of the
pegmatites under cover – LCT pegmatite
outcrop observed on the margins of the
cover
ASX: SGQ | St George Mining Limited October 2022 9
Fertile pegmatites
Numerous samples collected
• Assays for initial samples confirmed a
geochemistry supportive of lithium mineralisation
with anomalous values of lithium, caesium and
tantalum (LCT) and high rubidium
• Visual observation of latest rock chip samples has
identified lithium minerals in the form of
spodumene and lepidolite (photos of samples are
bottom and right)
ASX: SGQ | St George Mining Limited October 2022 10
Paterson Project
Within world-class copper-gold district
• St George holds 100% of two prospective
tenements
• St George ground has not been explored by
modern geophysics and drilling techniques,
offering an attractive opportunity for a new
discovery in an exploration hotspot
• Geological setting at St George’s ground is
interpreted to show strong similarities to Rio’s
major Winu Cu-Au discovery
• Neighbouring companies Antipa (ASX: AZY) and
Sipa (ASX: SRI) have joint ventures with Rio Tinto
• Style of intrusion related breccia mineralisation
seen in St George’s drilling is demonstrated at
Antipa Minerals’ (ASX: AZY) Minyari Deposit
(1.8Moz Au and 162kt Cu) and Greatland Gold’s
(LSE: GGP) Havieron Deposit (5.5Moz Au and
218kt Cu) in the southern Paterson Province
ASX: SGQ | St George Mining Limited October 2022 11
Paterson Project
Encouraging early drill results
The right rocks to host mineralisation:
• Maiden diamond drilling programme
completed with assays pending
• Drilling has confirmed prospective host
lithologies and evidence of hydrothermal/
mineralising process
• Visual copper sulphide and local quartz
veining logged in several drill holes
• Lithologies intersected include meta-
sediments that are considered part of the
Yeneena Group sequence, known to host
major copper-gold deposits elsewhere
within the Paterson Province
• Photos on right show sulphidic
intersections from PDD002 at 235m (top
left) and 267m (top right); structural
complexity and alteration of vein sets
shown in core tray for PDD001 (bottom)
ASX: SGQ | St George Mining Limited October 2022 12
Ajana Project
Underexplored ground in fertile
mineral district
Prime position:
• Located in the Northampton mineral field
where extensive mining of near surface
base metals deposits occurred during
1850 to 1973
• Near the western margin of the Yilgarn, an
area of strong exploration activity
following the discovery of Chalice Mining’s
Julimar deposit in the western Yilgarn
• St George has two granted exploration
licences and two licences in application
covering a total of 580 sq km (100% St
George)
• Modern exploration techniques and
concepts, including the latest geophysical
surveys, have the potential to identify
blind deposits
ASX: SGQ | St George Mining Limited October 2022 13
Ajana Project
Ni-Cu-PGE targets emerging
Interpreted intrusion:
• Detailed airmag by St George confirms
a 20km-long north-northwest trending
elliptical magnetically anomalous body
• Large magnetic anomaly includes
several concentric features and is cut
by the same dykes that host the
historic lead, zinc and copper sulphide
deposits in the Northampton block
• Inversion modelling of the magnetic
data is indicative of a late-stage,
potentially layered mafic intrusion –
prospective to host significant Ni-Cu-
PGEs
• Drill targets emerging for Q4 2022
Map of the Ajana granted exploration licences
with newly acquired airborne magnetics data
set against regional magnetics.
ASX: SGQ | St George Mining Limited October 2022 14
Broadview Project
Emerging mineral province
Prospective :
• Located in Western Australia’s
Wheatbelt, approximately 150km east of
Perth
• Two exploration licences (100% St
George) covering two large interpreted
mafic intrusives – each +25km long –
adjacent to the boundary of the South
West Terrane
• The boundary of the South West Terrane
hosts Chalice’s Julimar discovery, located
to the north-west of Broadview
• Anglo American and Impact Minerals
have major projects underway to the
east of Broadview
Map of the Broadview Project tenements
overlaying magnetic data and highlighting
interpreted mafic intrusions. Inset shows
regional location adjacent to Impact Mineral’s
and Anglo’s extensive tenement holdings.
ASX: SGQ | St George Mining Limited October 2022 15
Broadview Project
Favourable geological setting
Ni-Cu-PGEs targets emerging:
• Licences cover two approx. 25km long
north-east trending strongly magnetic
features interpreted to potentially
represent two large mafic/ultramafic
intrusions
• Unusual magnetic features cross-cut
the regional north-west trending
geology and appear linked to the
craton-scale domain boundary
interpreted at the eastern end of the
licences
• Widely spaced auger soil sampling by
St George along existing roads
identfied locally elevated Ni and Cu
results
Map of Broadview Project showing the large
arcuate magnetic anomalies identified from
airborne magnetic imagery and a reported
copper occurrence along strike from the
northern anomaly.
ASX: SGQ | St George Mining Limited October 2022 16
Major Drill Programmes
Extensive drilling scheduled
throughout 2022
• Diamond and reverse circulation (RC)
drilling to be deployed in 2022
• Drilling at Mt Alexander will focus on:
testing new targets for Ni-Cu-PGE
discoveries Drilling at Mt Alexander
testing new targets for lithium
discoveries
• Drilling at Paterson completed with
assays pending
• Drilling at Ajana and Broadview
planned for Q4 2022 subject to
finalisation of access agreements
• Potential to deliver substantial value for
shareholders
Photo: Drill core from metallurgical hole
STD014 at Stricklands showing massive
nickel-copper sulphides
ASX: SGQ | St George Mining Limited October 2022 17
Discovery and growth opportunities
across multiple projects
ASX: SGQ | St George Mining Limited October 2022 18
Forward looking statements and disclosures
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Dave Mahon, a
Competent Person who is a Member of The Australian Institute of Geoscientists. Mr Mahon is a full-time employee of St George Mining Limited to provide technical advice on
mineral projects and holds performance rights in the Company.
This ASX announcement contains information extracted from the following reports which are available on the Company’s website at www.stgm.com.au:
• 22 June 2021 Assays Confirm High-Grade Discovery at Mt Alexander • 10.March.2022 Strong Metallurgical Results for Mt Alexander
• 6 July 2021 New EM Conductors at Mt Alexander • 29 March 2022 Exploration Update - Mt Alexander
• 8 July 2021 Drilling Intersects Prospective Lithology at Paterson • 31 March 2022 Expansion Drill Programme – Mt Alexander
• 13 August 2021 Highly Successful Drilling at Paterson Project • 12 April 2022 Expansion Drill Programme – Mt Alexander
• 16 August 2021 Drilling Underway at Mt Alexander • 3 May 2022 Step Up in Exploration for St George
• 18 August 2021 Field of EM Conductors at Mt Alexander • 25 May 2022 St George Commences Drilling at the Paterson
• 13 September 2021 Drilling of New Targets at Mt Alexander • 23 June 2022 Exploration Update for St George Mining
• 14 October 2021 Diamond Drilling Underway at Mt Alexander • 13 July 2022 Drilling Update for Paterson Project
• 1 December 2021 Seismic Results Unlock Stand-Out Targets • 1 September 2022 New Nickel Targets at Mt Alexander
• 9 December 2021 Seismic Delivers Another Standout Target at Mt Alexander • 7 September 2022 Significant Lithium Potential at Mt Alexander
• 20 September 2022 Significant Expansion of Lithium Potential
The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in any original market announcements referred to in this
report and that no material change in the results has occurred. 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.
Disclaimer
Certain statements contained in this presentation, including information as to the future financial or operating performance of St George Mining Limited (ASX:SGQ) and its
projects, are forward looking statements:
-may include, among other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades
and recovery rates, production and prices, recovery costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future
technical, economic, market, political, social and other conditions;
-are necessarily based upon a number of estimates and assumptions that, while considered reasonable by St George Mining, are inherently subject to significant technical,
business, economic, competitive, political and social uncertainties and contingencies; and
-involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected
in such forward-looking statements.
St George Mining disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or
otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”
and similar expressions identify forward looking statements.
All forward looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward looking statements are
not guarantees of future performance and investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein.
ASX: SGQ | St George Mining Limited October 2022 19
Cannon Resources Limited is a Australian Nickel Conference
successful nickel exploration
company with flagship nickel
resource projects in Western October 2022
Australia
ASX: CNR
Disclaimers
Forward-Looking Statements
This presentation has been prepared by Cannon Resources Limited (Cannon). This document contains background information about Cannon current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete.
Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.
This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of
securities laws in such jurisdiction.
This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to
represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include, amongst others, the risk of adverse or unanticipated
market, financial or political developments.
To the fullest extent permitted by law, Cannon, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts
or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.
This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Cannon. 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. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing
obligations under applicable law and the ASX Listing Rules, Cannon does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such
forward looking statement is based.
Exploration Results
The information in this presentation that relates to Data and Exploration Results is based on information compiled and reviewed by Mr. Warrick Hamilton a Competent Person who is a Member of the Australian Institute Geoscientists (AIG) and Senior Geologist of Cannon
Resources Limited. Mr. Hamilton has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for
the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Hamilton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Where reference is made to previous releases of exploration results in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and
technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.
The information in this report that relates to previous Exploration Results was prepared and first disclosed under the JORC Code 2012 and has been properly and extensively cross-referenced in the text to the date of the original announcement to the ASX.
Resource Statement
The Statement of Estimates of Mineral Resources for Musket were reported by Cannon in accordance with ASX Listing Rule 5.8 in the announcements released to the ASX on 9 March 2022 and 24 March 2022. Cannon confirms it is not aware of any new information or data
that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.
The Statement of Estimates of Mineral Resources for Sabre were reported by Cannon in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 5 April 2022 and 15 August 2022. Cannon confirms it is not aware of any new information or data that
materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.
The Statement of Estimates of Mineral Resources for Camelwood, Cannonball and Collurabbie were reported by Cannon in accordance with ASX Listing Rule 5.8 in its Prospectus dated 26 May 2021 released to the ASX on 10 August 2021. Cannon confirms that it is not
aware of any new information or data that materially affects the information included in the Prospectus and, that all material assumptions and technical parameters underpinning the estimates in the Prospectus continue to apply and have not materially changed.
2
Investment Highlights
POTENTIAL UPSIDE
Fisher East discovery 134.1kt Ni to date and growing
1
Industry leading discovery cost at $104 per Ni tonne
All resources open laterally and down plunge
Nickel mineralisation intersected 520m down plunge at Sabre, more than doubles
the known mineralisation depth
INFRASTRUCTURE ADVANTAGE
Being close to Leinster in WA provides the company with multiple development
options:
Produce Nickel concentrate on site
Sell to smelters
NEW NICKEL BELT
Fisher East is a new nickel region and is rapidly evolving as a nickel resource of
significant scale
Fisher East is a high-quality growth asset which is highly sought after
First mover advantage in new nickel region in a Tier 1 jurisdiction
Notes:
(1) Refer ASX announcement 15 August 2022
3
Company Snapshot
About Cannon Resources Shareholder Information - as at 04 October 2022
Cannon Resources Limited is a Western Top 20 Shareholders 55.0%
Australia focused mineral resources
exploration and development company
Ponderosa Investments
with flagship nickel projects at Fisher East
& Collurabbie in the North-Eastern 15.5%
Goldfields region of Western Australia.
Rox Resources
10.0%
5.7% Hawke’s Point
Capital Structure / Enterprise Value
1.5%
67.3% Directors &
ASX Code CNR
Other Management
Shares on issue 85.6m
Options on issue 14.8m
Market capitalisation (as at 04/10/2022) $23.1m
Cash (as at 30/06/22) $3.3m
Enterprise value $19.8m
4
Experienced Board
ALEX PASSMORE - Non-Executive Chairman
Mr Passmore is a qualified geologist and experienced corporate executive. He holds a Bachelor of Science degree with First Class Honours in Geology and a Graduate Diploma of
Applied Finance from the Securities Institute of Australia. Mr Passmore was recently Chief Executive Officer of Cockatoo Iron NL, Non-Executive Director of Aspire Mining Ltd, Non-
Executive (and Executive) Director of Equator Resources Ltd/Cobalt One, and CEO of Draig Resources (now Bellevue Gold Ltd). Mr Passmore is currently Managing Director of Rox
Resources Limited and Non-Executive Director of Pearl Gull Iron Limited.
MARK STOWELL - Non-Executive Director
Mr Stowell is a Chartered Accountant with over 20 years of corporate finance and resource business management experience. He served as manager in the corporate division of
Arthur Andersen and was subsequently involved in the establishment and management of a number of successful ventures as principal, including resource companies operating in
Australia and internationally. Mr Stowell was a founder of Anvil Mining Ltd (DRC), founder and Non-Executive Director of Incremental Petroleum Limited, and Chairman and founder of
Mawson West Ltd. Mr Stowell is also currently the Chairman of Southern Hemisphere Mining Limited and Kula Gold Limited.
RICHARD BEVAN - Non-Executive Director
Mr Bevan has experience as a Managing Director/Chief Executive Officer and Non-Executive Director/Chairman for listed and unlisted companies. He brings experience in the
execution and integration of mergers, acquisitions and other major corporate transactions and has been involved in business areas as diverse as healthcare, construction and
engineering, and information services. His roles within these businesses have included operational management, implementing organic growth strategies and acquisitions and
assisting with capital raisings. Mr Bevan was previously the founding Managing Director of Cassini Resources Limited until it was acquired by OZ Minerals Limited via a Scheme of
Arrangement in late 2020. Mr Bevan is a member of the Australian Institute of Company Directors and is currently a Non-Executive Chairman of Killi Resources Limited (ASX: KLI),
Narryer Metals Limited (ASX: NYM) and TG Metals Limited (ASX: TG6).
5
Location
7.5Mt @
1.8% Ni for
134.1kt Ni
3
228Mt @ 0.53%
Ni for 1,205kt Ni 1
416Mt @ 0.61%
1
Ni for 2,537kt Ni 200 km by existing road
to Cosmos/Leinster.
67Mt @ 0.98%
Ni for 656kt Ni
2
Source:
BHP The Future is Clear Presentation –
175Mt @ 0.94% 1. Diggers and Dealers Mining Forum
1
Ni for 1,653kt Ni 03/08/2022
2. FY22 Cosmos and Forrestania
Resources and Reserves – ASX
Announcement on 30/08/2022
3. Fisher East Resource Increased to
134.1kt Contained Nickel – ASX
Announcement on 15/08/2022
6
Fisher East Nickel Project
Combined resource of 7.5Mt @ 1.8% Ni for 134.1kt contained Ni (JORC2012) (1)
Kambalda style komatiite channels individually up to 700m width. Massive to semi massive and
disseminated mineralisation at grades of 1.5% – 2.8% Ni
All resources open laterally and down plunge
Deep Hole
Notes:
(1) Refer ASX announcements 9 March 2022, 24
March 2022, 5 April 2022, 15 August 2022 and
Prospectus released on the ASX 10 August 2021
7
Fisher East Nickel Project
Sabre Resource
2.9Mt @ 1.5% Ni for 42.3kt Ni (1)
Sabre channel interpreted to be 700m strike and at least
800m plunge extent
Deep hole MFED122 which is ~520m down plunge from
the current Sabre resource indicates that the channel
Project Overview
mineralisation is still present at depth
Resource defined across the top of the channel - over
most of the strike and down to 300m only
Resource open down plunge and laterally
Notes:
(1) Refer ASX announcement 15 August 2022
8
Fisher East Nickel Project
High Grade Trends Within Sabre Resource
High grade Ni zone defined along northern channel
margin – up to 3.7m of massive nickel sulphides in
drilling (MFED117 5.7m @ 4.5% Ni )
1
Deep diamond hole MFED122 has more than doubled
the vertical extent of nickel mineralisation at the Sabre
Project Overview
OPEN OPEN
Sabre resource remains open laterally & down plunge
Notes:
(1) Refer ASX announcement 21 June 2022
9
Fisher East Nickel Project
Musket Resource
S N
2.4Mt @ 1.9% Ni for 45.5kt Ni (1)
Cannon has extended the resource down to 600m from
surface
Musket channel is approximately 450m wide, dipping
approximately 65° to the east and plunging sub-vertical
to the north Project Overview
Mineralisation has a high nickel tenor with
disseminated sulphide in the 1-5% Ni range and
massive sulphide in the 10-20% Ni range
High grade thicker zone down channel centre remains
open
Notes:
(1) Refer ASX announcement 9 March 2022 and 24 March 2022
10
Fisher East Nickel Project
Camelwood Resource S N
2.0Mt @ 2.0% Ni for 39.0kt Ni (1)
New geological and DHEM interpretation with
assistance from consultants Model Earth and Newexco
defines dual controls on mineralisation:
- a northern structural plunge
- parallel southern primary channel plunges
Project Overview
Camelwood channel is approximately 1,400m wide and
dipping approximately 65° to the east
Majority of existing drilling concentrated along northern
structural plunge
Mineralisation along primary plunge only modestly
tested and is open at depth
Notes:
(1) Refer Prospectus released on the ASX announcement 10 August 2021
11
Fisher East Nickel Project
Significant Nickel Camp Emerging
4 known Kambalda style nickel sulphide ore bodies over a 10km section of
the basal komatiite at Camelwood, Cannonball, Musket and Sabre
More than 20 km of the key basal contact position on Cannon tenure
Fisher East basal contact well defined by high resolution aeromagnetics
and associated PGE (platinum and palladium) pathfinder geochemistry in
regolith
Project Overview
Multiple anomalies along the basal contact to be drill tested
Cutlass, Tomahawk and Horatio are all advanced prospects on the basal
contact. They are all potential nickel bearing channel systems and are the
focus of Cannon’s regional drilling program
12
Collurabbie Project
Project Overview
Intrusive style sulphide Ni-Cu-Co-PGE system (Nova, Savannah, Julimar)
Ni-Cu-Co-PGE resource at Olympia hosted in ultramafic sill with total
Mineral Resource (JORC) estimate of 0.573Mt at 1.63% Ni, 1.19% Cu,
0.082% Co, 1.49g/t Pd, 0.85g/t Pt (1)
Well defined zone of Ni-Cu-Co-PGE mineralised sills with a strike extent of
over 15 km on Cannon tenure.
Project Overview
Multiple anomalous Ni-Cu-Co-PGE historical drill intercepts within the sills,
most yet to be adequately tested
Anomalous gold and VMS style mineralisation also intersected in historical
drilling within the Project area. Most yet to be followed up
Notes:
(1) Refer Prospectus released on the ASX announcement 10 August 2021
13
Strategy / Next Steps
Large high-quality resource of 134.1kt contained Ni at Fisher East
1
and growing, which is highly sought after
Internal studies progressing, focused on advancing the project to
production
Targeted planning progressing on next drilling programme, with a
focus on expanding Sabre resource given the recent deep diamond
hole discovery
Notes:
(1) Refer ASX announcement 15 August 2022
14
APPENDICES
15
Nickel Market Outlook
Forecast Nickel Consumption Forecast Average Nickel Price
30,000
25,000
US$ a tonne 20,000
15,000
10,000
5,000
0
Source: International Nickel Study Group (INSG); Wood Mackenzie; Department of Industry, Science, Energy and Source: Business Insider (2022); Department of Industry, Science, Energy and Resources (2022)
Resources (2022)
Nickel demand rose by 16% year on year in 2021
Nickel use in batteries is expected to be a dominant driving force of nickel demand. By 2027, batteries are expected to account for
22% of total nickel demand (nearly doubled its 2021 level)
Nickel price is forecasted to stay above US$20,000 per tonne in the next few years, reaching US$23,875 per tonne in 2027
16
Peer Comparison
Peer Comparison, Resource Grade (% Ni) vs Resource Size (Ni Kt) vs Market Capitalisation ($m)
(Bubble size represents Resource Size)
200
Market Capitalisation ($m) (as at 04/10/2022) 150 [CELLRANGE] [CELLRANGE]
[CELLRANGE]
100
[CELLRANGE]
[CELLRANGE]
50
[CELLRANGE] [CELLRANGE]
0
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5%
-50 High grade and large Resource Grade (% Ni)
size resource with
compelling valuation
Source: See Peer Selection slide
17
Peer Selection
Companies selected are considered comparable to Cannon as they are:
ASX listed & Australian based exploration and/or study phase;
Class 1 nickel / nickel sulphide;
Resource grade > 1.0% Ni; and
Nickel equivalents are excluded
Project Attributable Attributable Ni
ASX code Company name Ownership Resource Ni Grade Metal Source
(% Ni)
(%) (Mt) (kt)
LM8 Lunnon Metals Ltd 100% 2.2 2.9% 64.3 Company Presentation – ASX Announcement on 15/06/2022
Paydirt Battery Minerals Presentation – ASX Announcement on 07/04/2022
POS Poseidon Nickel Ltd 100% 13.5 1.6% 219.7
Silver Swan Resource Update – ASX Announcement on 27/04/2022
AZS Azure Minerals Ltd 60% 2.8 1.1% 31.0 Paydirt Battery Minerals Presentation – ASX Announcement on 06/04/2022
Noosa Mining Investor Conference (ASX Announcement on 20/07/2022) and
AOU Auroch Minerals Ltd 100% 1.3 1.9% 25.0 Nepean Nickel Project JORC 2012 Mineral Resource Estimate (ASX
Announcement on 1/9/2022)
Rosie Resource Increases in Tonnes, Grade and Metal – ASX
DKM Duketon Mining Ltd 100% 2.8 2.0% 56.3
Announcement on 10/03/2022
2022 RIU Sydney Resources Round Up Presentation – ASX Announcement
WIN Widgie Nickel Ltd 100% 10.7 1.6% 168.2
on 05/05/2022
CNR Cannon Resources Ltd 100% 7.5 1.8% 134.1 ASX Announcement on 15/08/2022; Collurabbie excluded
Other inputs Input date Source
Market capitalisation 4 October 2022 Australian Stock Exchange
18
Mineral Resource
Fisher East
(1)
Deposit Category Tonnes (Mt) Grade Ni % Contained Ni Metal
Indicated 1.7 2.0 34.0
Camelwood Inferred 0.3 1.5 5.0
Total 2.0 2.0 39.0
Indicated 0.24 2.9 7.0
Cannonball Inferred 0.02 1.9 0.3
Total 0.26 2.8 7.3
Indicated 0.9 2.1 19.0
Musket Inferred 1.5 1.8 26.4
Total 2.4 1.9 45.5
Inferred 2.9 1.5 42.3
Sabre
Total 2.9 1.5 42.3
Indicated 2.8 2.1 60.0
Total Inferred 4.7 1.6 74.0
Total 7.5 1.8 134.1
(2)
Collurabbie
Deposit Category Tonnes (Kt) Grade Ni % Grade Cu % Grade Co % Grade Pd g/t Grade Pt g/t
Olympia Inferred 573 1.63 1.19 0.082 1.49 0.85
Notes:
Cut-off grades: Camelwood, Cannonball and Olympia 1.0% Ni; Musket and Sabre 0.9% Ni. Values may not sum due to rounding.
(1) Refer ASX announcement 9 March 2022, 24 March 2022, 5 April 2022, 15 August 2022 and Prospectus released on the ASX 10 August 2021
(2) Refer Prospectus released on the ASX 10 August 2021
19
P +618 6383 9911 F +618 9322 6254
EV Metals Group plc
Presenta(on to Paydirt Australian Nickel Conference
th
5 October 2022
Michael Naylor
Managing Director and CEO,
EV Metals Group Plc
Page 1
IMPORTANT INFORMATION & DISCLAIMER
Summary Information
The information contained, or referred to, in this presentation has been prepared by EV Metals Group plc (EVM or Company) for the benefit of stockbrokers, analysts and private and institutional investors, and
not as specific advice to any particular party or person. This presentation does not purport to contain all information that a prospective investor may require in evaluating a possible investment in EVM or that
would be required in a disclosure document prepared in accordance with the requirements of the Companies Act 2006. All information and opinions in the presentation are subject to updating, reviewing and
amendment without notice and EVM reserves the right without notice to make changes and corrections at any time. No reliance may be placed for any purpose whatsoever on the information contained in the
presentation or on its completeness.
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Not investment advice
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recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment
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hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance and estimates. Forward-looking statements
are provided as a general guide only. The forward-looking statements contained in this presentation are not indications, guarantees or predictions of future performance and involve known and unknown risks and
uncertainties and other factors, many of which are beyond the control of EVM, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be
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About EV Metals Group plc (EVM)
EV Metals Group plc is a global ba=ery materials and
technology company commi=ed to a clean energy future.
We are focused on the produc(on of high purity chemicals and
ba=ery materials required in rechargeable ba=eries for electric
vehicles (EVs) and renewable energy storage.
! Our unique offering is a fully integrated baDery materials business, giving
a transparent and geopoliGcally aligned supply chain.
! We offer lithium and nickel/cobalt resources in Australia, are designing
chemistry refining capacity to be built in the Kingdom of Saudi Arabia, and
localised baDery materials capability in mid/high Ni and LFP in Europe.
! Structural deficits in supply will emerge in global markets over the next
decade. Our unique fully integrated business model in geopoliGcally
aligned and stable regions posiGons EVM to become a pre-eminent
supplier for EVs and energy storage.
Page 2
Strategic Posi(oning of EVM’s World Class Facili(es
Product development and CAM produc(on Map shows:
takes place at EVM’s dedicated and state • LocaGons of EVM BTCs
of the art facili(es located close to target • EVM CAM Plant under
customers. construcGon
As many original equipment manufacturers (OEMs)
are favouring localised solu(ons, EVM is well
posi(oned with our capability and Ba=ery Technology Oslo
Centre’s (BTCs) Helsinko
Stockholm
Edinburgh
Belfast
Amsterdam
Dublin Berlin Konin
High nickel plant under
Brussels Prague construction, Konin
Vienna
Budapest
Paris
Geneva Zurich
High nickel pilot plant, BTC Billingham, UK Milan
Billingham UK Nice
Rome Dubrovnik
Madrid Barcelona
Naples
Valencia
BTC Oxford, UK Lisbon
LFP Pilot Plant & BTC,
Athens Moosburg
Malta Page 3
The key growth markets in the medium term are Europe and the UK
Europe and the UK are key growth markets for
EVM in the medium term with European
ba=ery manufacturing expected to reach
around 1,100 GWh per year by 2030 driven by
some of the most ambi(ous EV targets
globally.
! Structural deficits in global supply of lithium and nickel
forecast from 2025/26.
! Whilst cell manufacturing is being built out, there is a
substanGal shorZall in capacity of localised BaDery Materials
producGon through to 2030 which will be required to meet
EU ‘Rules of Origin’ regulaGons.
Page 4
Surging Demand for Cathode Ac(ve Materials Used in EVs
Demand for cri(cal minerals and CAM used in the produc(on of rechargeable ba=eries is expected to increase substan(ally
during this decade – driven by Western Government’s phasing out sales of internal combus(on engines (ICEs).
Ba=ery Metal Demand in Europe Ba=ery Metal Demand in the UK
European Demand: (Thousand Tonnes) (Thousand Tonnes)
! European CAM demand for light-duty vehicles 1,400 1395 120 160 149 12
is expected to surpass 500kt by 2025. 140
1,200 100 10
! Demand increases fivefold from 2021 to 2030. 120
1,000 80 Cathode 100 8 Cathode
UK Demand: CAM, Nickel and Lithium 800 60 Cobalt and Manganese Nickel CAM, Nickel and Lithium 80 6 Cobalt and Manganese Nickel
Lithium
Lithium
! UK CAM demand for light-duty vehicles is 600 568 560 Cobalt 60 Cobalt
expected to approach 150kt by 2030. 459 40 Manganese 60 49 4 Manganese
400 42
272 40
262
20 20 20 2
200 118 20
50 55 7
3 3
0 0 0 0
2021 2025 2030 2021 2025 2030
Source: Advanced Propulsion Centre UK, Q1 2022 Automotive Industry Demand Forecast, June 2022.
Note: Passenger cars and light commercial vehicles are less than 3.5 tonnes. Page 5
Cathode Ac(ve Materials Capacity lagging build out of gigafactories in Europe
Cathode planning has not been the focus of investment in Europe (and North America), but Western OEMs are
lobbying increasingly hard for elements of the EV supply chain to be brought closer to their opera(onal hubs.
Page 6
Cathode Ac(ve Materials Demand vs Supply – Europe
There is an expected substan(al shorYall (600,000 tpa) in cathode ac(ve materials plants and produc(on
capacity in Europe forecast to 2030.
Nickel rich cathodes such as NCM con(nue with dominant market share. By 2030, LFP/LMFP will take over mid nickel NCM market
share in Europe with around 25% of ba=ery electric vehicles produced in Europe expected to use LFP/LMFP ba=ery cells.
Source: Benchmark Mineral Intelligence Source: Source: Advanced Propulsion Centre UK, Q1 2022 Page 7
Automotive Industry Demand Forecast, June 2022.
Ownership of the global EV & ba=ery supply chain by 2027
Europe and North America lack midstream processing capacity outside of China.
Compounded, this generates geopoliGcal and jurisdicGonal risk. Post 2027, Europe and the US may be self-sufficient for baDeries,
however midstream and downstream capacity largely exists within China.
EUROPE NORTH AMERICA
EUROPE
Nickel Lithium Cobalt Nickel Lithium Cobalt
100% 100%
47% 60%
80%
reliance on
90% 75% offshore capacity 100% reliance on reliance on
offshore
reliance on reliance on reliance on offshore capacity
offshore capacity offshore capacity offshore capacity
capacity
Raw Material Refiners P-CAM CAM BaDery Cell OEMs Raw Material Refiners P-CAM CAM BaDery Cell OEMs
Page 8
Source: IHS, Trafigura Research
A Two-Tiered Nickel Pricing Model (Clean vs Dirty Nickel)
The majority (up to 90%) of supply growth catering the EV transition is expected to be Indonesian, mostly
from Chinese-owned NPI assets with a highly emissions-intensive treatment process.
Analysis from major market participants, including Trafigura and BlackRock, suggests that a two-tiered pricing system is a realistic possibility (i.e. brown
discount applied to nickel produced with high carbon footprint).
Cleanly sourced supplies
to attract premiums
(an opportunity for Australia)
2
CO sourced supplies to
receive ‘brown discount’
Source: IHS, Trafigura Research: Trafigura, Nickel & EV Market Outlook, July 2022. Page 10
Our Fully Integrated Supply Chain Model
We will produce sustainable
supplies of ba=ery materials for
electric vehicle and ba=ery cell Ba=ery Chemicals
manufacturers seeking long term,
transparent and geopoli(cally Kingdom of Saudi Arabia
aligned stable supply chains. ! Lithium Chemicals Plant
! Nickel Chemicals Plant
Ba=ery Materials Ba=ery Resources
UK & Europe Australia
! Technology & ApplicaGon Centres ! Range Well Ni Co Resource
! Pilot / Demo Manufacturing of CAM ! Split Rocks Lithium (JV with Zenith Minerals)
! Commercial Manufacturing ! Omake Agreements
Page 10
Upstream Supply - Range Well Nickel Cobalt Resource
EVM’s 100% owned Range Well Nickel and Cobalt
Resource will supply EVM’s MHP Project providing
feedstock to the Nickel Chemicals Plant in Yanbu,
KSA.
Nickel
28 JORC(2012) Mineral Resource 1
Ni 353Mt at 0.65% Ni, 0.041% Co, and 0.18% Mn at
Nickel a cut off grade of 0.50% Ni
Cobalt
27
Co
Cobalt RepresenGng…
Manganese
25 Over 2.3 Mt of Ni, 145 000 t of Co, and 640 000
Mn t of Mn. Largest single Ni deposit in Australia
Manganese
1 Indicated: 248Mt @ 0.67% Ni, 0.043% Co, 0.19% Mn, see appendix Page 11
Inferred: 105Mt @ 0.61% Ni, 0.037% Co, 0.16% Mn
Ba=ery Chemicals processing at EVM’s world-first integrated Ba=ery Chemicals Complex
We are developing the world’s first integrated
Ba=ery Chemicals Complex at Yanbu
Industrial City in the Kingdom of Saudi Arabia.
Comprises the staged development and expansions
of a Lithium Chemicals Plant and a Nickel Lithium Chemicals Plant Nickel Chemicals Plant
Chemicals Plant.
Products: Products:
! Producing high purity intermediate baDery chemicals for Lithium Hydroxide Monohydrate (LHM) Nickel Sulphate Hexahydrate (NSH)
downstream processing at our world leading CAM pilot plants, Cobalt Sulphate Heptahydrate (CSH)
laboratories and technology centres in the UK, Poland and Four trains: Manganese Sulphate Monohydrate (MSM)
Germany. 25,000 tpa of LHM per train Three trains:
! Feedstock from third party omake agreements and the Feedstock: 150,000 tpa of NSH per train plus CSH and MSM
165,000 tpa spodumene
upstream integraGon of mineral resources from Australia concentrate (6% Li O) per train Total produc(on:
including current JV partnerships (Lithium with Zenith Minerals) 2 450,000 tpa of NSH plus CSH and MSM
and EVM’s Range Well Project (Nickel Cobalt Resource). Total produc(on:
100,000 tpa of LHM Timing:
ConstrucGon commencing in Q1 2026
Timing:
ConstrucGon of first two trains
commences Q2 2023
Page 12