ANC20-Proceedings-Presentations-Full

FUTURE NICKEL DEMAND


Consensus view is that nickel demand will increase significantly by 2030

2019 Electric Vehicles accounted for 3% of total nickel demand
2030 batteries to account for 27% of total nickel demand







































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Source: Argus

FUTURE NICKEL DEMAND



Lithium Ion Megafactories will impact demand for Raw Materials including Nickel











































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MT EDWARDS
PROJECT








Located 80km 50 km from Kambalda
south of Kalgoorlie Ni Concentrator














Access to sealed roads, rail
and energy infrastructure









Mineral Resources

8.72M tonnes @ 1.7% Ni
146,000t contained Ni*


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*Full information for Mt Edwards JORC
Mineral Resource information on page 46

MT EDWARDS OVERVIEW



• NMT 100% owned since mid 2018

• Located 80km south of Kalgoorlie.

• 50 km from Kambalda Ni Concentrator

• Access to sealed roads, rail and
energy infrastructure

• Tenements cover area of > 300km 2

• 50+km strike over the highly nickel
prospective Widgiemooltha Dome
• Brownfields Ni exploration with

significant historic Ni production
• Eleven deposits across 20km

• Mineral Resources of 8.72M tonnes @
1.7% Ni for ~146,000t contained Ni*












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*See full information for Mt Edwards JORC Mineral Resource information on page 46

MT EDWARDS OVERVIEW



• NMT 100% owned since mid 2018

• Located 80km south of Kalgoorlie.

• 50 km from Kambalda Ni Concentrator

• Access to sealed roads, rail and
energy infrastructure

• Tenements cover area of > 300km 2

• 50+km strike over the highly nickel
prospective Widgiemooltha Dome
• Brownfields Ni exploration with

significant historic Ni production
• Eleven deposits across 20km

• Mineral Resources of 8.72M tonnes @ Mincor Resources
1.7% Ni for ~146,000t contained Ni* Cassini

• Underexplored on southern tenements
proximal to Mincor’s Cassini deposit

• Neometals is considering optimal
structure to realise value of NiS
development assets
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*See full information for Mt Edwards JORC Mineral Resource information on page 46

MT EDWARDS MINERAL RESOURCES



• Eleven deposits across 20km strike

• “Mt Edwards Anticline” and “Widgie South
Trend” Regions

• Mineral Resources of 8.7M tonnes @
1.7% Ni for 146k tonnes contained Ni*

• Up 18% from 7.4M tonnes @ 1.7% Ni for
123k tonnes contained Ni in June 2018




Mineral Resources

8.72M tonnes @ 1.7% Ni
146,000t contained Ni*

















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*See full information for Mt Edwards JORC Mineral Resource information on page 46



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MT EDWARDS PROJECT HISTORY


• Discovery - 1967 by INAL - under agreement with WMC


• Mt Edwards 26N underground Mine

• Total of 31,016 Nickel Tonnes Mined across 4 mines 1980 to 2008


• Divested by WMC in 2001 to
Australian Nickel Mines NL


• Consolidated Nickel acquired

Project in 2006

• All exploration stopped in

2008 when the Nickel Price
slashed (GFC)


• Since 2008 little serious
exploration undertaken


• Significant knowledge and

data loss since 2008



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MT EDWARDS UNDER NEOMETALS



2018 2020 • Neometals have made

Database Database a concerted effort to
of 9,464 of 11,887 gather data and regain
drillholes drillholes the knowledge


• Re-established a
validated database
(9,464 drill holes,

~36,000 soil samples).

• Neometals have drilled
251 holes since

acquisition in 2018.

• Added additional 2,172
drillholes on the Mt

Edwards Tenements
through information

gathered either
privately or on public
file. i.e. WAMEX
2,423 drillholes 20
added since 2018

MT EDWARDS UNDER NEOMETALS



Since acquisition in 2018 Neometals have
executed a 3-stage plan

1. Review and re-estimate massive
nickel sulphides within and near
known Mineral Resources



2. Discover more nickel (proximal to

Mineral Resources and greenfields)



3. Identify “best option” deposits and

prepare for development considering
the projected nickel demand and
related price increase due to EV
sector












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*See full information for Mt Edwards JORC Mineral Resource information on page 46

MT EDWARDS UNDER NEOMETALS



Since acquisition in 2018 Neometals have
executed a 3-stage plan

1. Review and re-estimate massive
nickel sulphides within and near
known Mineral Resources

5 of the 11 Mineral Resources at Mt
Edwards have been re-estimated for
Neometals

3 more estimates due in coming months

All estimated Mineral Resources since
mid 2018 have been reviewed by
Snowden

Estimated Mineral Resource Nickel
tonnes up from:

123k nickel tonnes in June 2018

to

146k nickel tonnes in September 2020

Ni grade has been maintained with growth
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*See full information for Mt Edwards JORC Mineral Resource information on page 46

MT EDWARDS UNDER NEOMETALS



Since acquisition in 2018 Neometals have executed a 3-stage plan

2. Discover more nickel (proximal to Mineral Resources and greenfields)
Multiple drill programs with nickel sulphides intersected:

11m @ 2.64% Ni including 4m @ 6.32% Ni (Zabel, June 2019)
8.3m @ 2.29% Ni (Munda, October 2019)
16m @ 1.44% Ni including 2m @ 4.78% Ni (Gillett, September 2019)
6m @ 8.11% Ni (Armstrong, December 2019)

1m @ 1.19% Ni & 1m @ 1.22% Ni (Lake Eaton South, December 2019)


Massive Nickel
sulphides in Core
from Munda
deposit
Drilled in 2019

This intercept part
of 8.3m @ 2.29%
Ni*








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*Please refer to ASX announcement 9 October 2019 titled “Further Nickel Drill Results at Mt Edwards”

MT EDWARDS UNDER NEOMETALS



Since acquisition in 2018 Neometals have executed a 3-stage plan

3. Identify “best option” deposits and prepare for the projected nickel demand and
related price increase due to EV sector

Comparisons have included calculating Nickel Tonnes per vertical metre for each
Mineral Resource

































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*See full information for Mt Edwards JORC Mineral Resource information on page 46

MT EDWARDS UNDER NEOMETALS



Since acquisition in 2018 Neometals have executed a 3-stage plan

3. Identify “best option” deposits and prepare for the projected nickel demand and
related price increase due to EV sector

Early mining studies suggest Armstrong, Widgie Townsite and Gillett have superior
prospectivity

































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*See full information for Mt Edwards JORC Mineral Resource information on page 46



2020 EXPLORATION – ARMSTRONG



• New drilling and a reinterpretation of the geology

• Revised Mineral Resource increased by 60% in April 2020
• 633,000 tonnes at 2.1% nickel for 13,200 nickel tonnes*

• Historic estimate 320k tonnes at 2.6% Ni for 8,180 nickel tonnes

















• Snowden reviewed

• DHEM conducted

• >80% Indicated MR







*Please refer to ASX announcement 16
April 2020 titled “60% INCREASE IN
ARMSTRONG MINERAL RESOURCE”
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2020 EXPLORATION – GILLETT



• New drilling warranted a reinterpretation of the geology

• Revised Mineral Resource announced May 2020
• 1.31 Million tonnes at 1.7% nickel for 22,500 nickel tonnes*

• Previously 955,000 tonnes at 1.8% nickel for 17,050 nickel tonnes

















• Snowden reviewed

• DHEM conducted

• Open along strike
• Open at depth





*Please refer to ASX announcement 26
May 2020 titled “INCREASE IN MT EDWARDS
NICKEL MINERAL RESOURCE”
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2020 EXPLORATION – 132N



• Drilled Diamond Core and assessed drill logs and database

• Reviewed end of mine report from November 2008
• Reinterpretation of the Mineral Resource

• 460k tonnes at 2.0% nickel for 9,050 nickel tonnes*

• Up from 120k tonnes @ 3.4% nickel for 4,070 nickel tonnes














• Snowden reviewed

• Open at depth

• High grade zones







*Please refer to ASX announcement 5
October 2020 titled “132N NICKEL MINERAL
RESOURCE AND EXPLORATION UPDATE
AT MT EDWARDS”
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NEOMETALS REGIONAL EXPLORATION


Summary of Ground
• Newexco engaged to assist in data Geophysics over Mt
review and future discoveries Edwards Project

• Many targets pre 2008 left untested (50+
historical targets)

• Several targets generated from ground
EM (Moving and Fixed loop) remain
untested

• Information Memorandum completed by
Newexco in May 2020

• IM outlines opportunities for discovery
• More than 45 prospects and targets
discussed in the IM

















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NEOMETALS REGIONAL EXPLORATION




• Newexco engaged to assist in data
review and future discoveries

• Many targets pre 2008 left untested (50+
historical targets)

• Several targets generated from ground
EM (Moving and Fixed loop) remain
untested

• Information Memorandum completed by
Newexco in May 2020

• IM outlines opportunities for discovery
• More than 45 prospects and targets
discussed in the IM

• Regional Exploration in 2020 has Mincor Resources
focused on the southern end of the Cassini
project – near Mincor’s Cassini deposit










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*See full information for Mt Edwards JORC Mineral Resource information on page 46

REGIONAL EXPLORATION – LAKE EATON


Multiple geophysics surveys at Lake Eaton and Lake Eaton South NW of Mincor’s Cassini

Including: Passive Seismic, Moving Loop EM and UAV (drone) supported Magnetic Surveys









































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REGIONAL EXPLORATION – LAKE EATON


UAV Magnetics still in development, early results enable improved “picking” of structures

Resolution of magnetic features with UAV magnetics becoming superior than aircraft as:



Drones can carry the
magnetometer much
lower to the ground (15m
to 25m)




No noise from big aircraft




Reduced compensation
for altitude control



UAV detects weak
magnetic anomalies

undetectable with
conventional fixed wing
aircraft


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REGIONAL EXPLORATION – LAKE EATON


Multiple geophysics surveys at Lake Eaton and Lake Eaton South

UAV (drone) Magnetic Surveys have greater resolution



New UAV Magnetic Survey results
Regional Aerial Magnetic results



































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REGIONAL EXPLORATION – LAKE EATON



• Interpretation of the geology in the area is complicated, with faults offsetting the Ultramafic -
Basalt contact north of Mincor’s Cassini North prospect









































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*Please refer to ASX announcement 5 October 2020 titled “132N NICKEL MINERAL RESOURCE AND EXPLORATION UPDATE AT MT EDWARDS”

REGIONAL EXPLORATION – LAKE EATON



• Interpretation of the geology in the area is complicated, with faults offsetting the Ultramafic -
Basalt contact north of Mincor’s Cassini North prospect









































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*Please refer to ASX announcement 5 October 2020 titled “132N NICKEL MINERAL RESOURCE AND EXPLORATION UPDATE AT MT EDWARDS”

REGIONAL EXPLORATION – LAKE EATON



• NMT Recently completed a 7 RC hole program for 1,437 metres (assay results pending)

• Drilling has successfully identified the Ultramafic - Basalt contact








































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*Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”
*Please refer to ASX announcement 5 October 2020 titled “132N NICKEL MINERAL RESOURCE AND EXPLORATION UPDATE AT MT EDWARDS”

REGIONAL EXPLORATION – LAKE EATON



• NMT Recently completed a 7 RC hole program for 1,437 metres (assay results pending)

• Drilling has successfully identified the Ultramafic - Basalt contact




B

























A







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*Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”
*Please refer to ASX announcement 5 October 2020 titled “132N NICKEL MINERAL RESOURCE AND EXPLORATION UPDATE AT MT EDWARDS”

REGIONAL EXPLORATION – LAKE EATON


• Neometals have conducted drill programs at Lake Eaton and Lake Eaton South NW of Mincor’s Cassini
• We continue to find “sniffs” of nickel sulphide but we continue to pursue the next “discovery hole”
• Drill Results include:

• 0.98 metres at 1.3% Ni within 5 metres at 0.66% Ni intercept from 139 metres in diamond hole MEDD003*
• 1 metre at 1.19% Ni within 3 metres at 0.69% Ni from 100 metres downhole in RC hole MERC100*

• 1 metre at 1.22% Nickel at 55 metres downhole in RC hole MERC073 (not on section)
































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*Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”, 31 January 2020 titled “–MT EDWARDS NICKEL DRILL RESULTS FROM
ARMSTRONG AND E15/1553” and 5 October 2020 titled “132N NICKEL MINERAL RESOURCE AND EXPLORATION UPDATE AT MT EDWARDS”

MT EDWARDS
PROJECT








Located 80km 50 km from Kambalda
south of Kalgoorlie Ni Concentrator














Access to sealed roads, rail
and energy infrastructure









Mineral Resources

8.72M tonnes @ 1.7% Ni
146,000t contained Ni*


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*Full information for Mt Edwards JORC
Mineral Resource information on page 46

SECURITY OPPORTUNITY


Strong balance sheet MCAP discrepancy
with no debt (low EV)




Able to fund development of Key projects
some projects without dilution co-funded




Strong Board and Multiple catalysts
management, collectively across portfolio
the largest shareholders


Consistent strategy - History of cash returns
partnering to reduce risks to shareholders
and realise returns




Disciplined capital Transitioning to best practice
allocation ESG - ‘sustainable investment’

MT EDWARDS


PROJECT


WIDGIEMOOLTHA NICKEL

Neometals - 100% Nickel Mineral Rights






SUPPORTING INFORMATION


Responsible nickel supporting electro mobility









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MT EDWARDS MINERAL RESOURCE

ESTIMATE as at 05 October 2020




Competent Person attribution on Next page

Indicated Inferred TOTAL Mineral Resources

Tonne Nickel Nickel Tonne
Deposit Tonne (Kt) Nickel (%) Nickel Tonnes
(Kt) (%) (%) (Kt)
Widgie 3 2 625 1.5 625 1.5 9,160
Gillett 5 1,306 1.7 1,306 1.7 22,500
Widgie Townsite 2 2,193 1.9 2,193 1.9 40,720

Munda 3 320 2.2 320 2.2 7,140
Mt Edwards 26N 2 575 1.4 575 1.4 8,210
132N 6 34 2.9 426 1.9 460 2.0 9,050
Cooke 1 150 1.3 150 1.3 1,950
Armstrong 4 526 2.1 107 2.0 633 2.1 13,200
McEwen 1 1,070 1.3 1,070 1.3 13,380
McEwen Hangingwall 1 1,060 1.4 1,060 1.4 14,840
Zabel 1 330 1.8 330 1.8 5,780
TOTAL 2,753 1.9 5,969 1.5 8,722 1.7 146,000
NOTE: Figures may not sum due to rounding. Significant figures do not imply an added level of precision.
Mineral Resources quoted using a 1% Ni block cut-off grade, except Munda at 1.5% Ni.
Note: 1 refer announcement ASX: NMT 19 April 2018 titled: Mt Edwards JORC Code (2012 Edition) Mineral Resource 48,200 Nickel Tonnes
Note: 2 refer announcement ASX: NMT 25 June 2018 titled: Mt Edwards Project Mineral Resource Over 120,000 Nickel Tonnes
Note: 3 refer announcement ASX: NMT 13 November 2019 titled Additional Nickel Mineral Resource at Mt Edwards
Note: 4 refer announcement on the ASX: NMT 16 April 2020 titled 60% Increase in Armstrong Mineral Resource
Note: 5 refer announcement on the ASX: NMT 26 May 2020 titled Increase in Mt Edwards Nickel Mineral Resource
Note: 6 refer announcement on the ASX: NMT 6 October 2020 titled 132N Nickel Mineral Resource and Exploration Update at Mt Edwards 46

MT EDWARDS MINERAL RESOURCE

ESTIMATE



as at 05 October 2020
Competent Person Attribution


CompetentPersonAttribution
The information in this presentation that relates to Exploration Results is based on information compiled by Gregory Hudson, who is
a member of the Australian Institute of Geoscientists. Gregory Hudson is an employee of Neometals Ltd .

The information in this presentation for Mt Edwards that relates to Widgie Townsite, Widgie 3, Zabel, McEwen & McEwen
Hangingwall Mineral Resources is based on, and fairly represents, information and supporting documentation compiled and
prepared by Mr Luke Marshall. Mr Marshall is a sole trader and independent contractor to Neometals Ltd.
The information in this presentation for Mt Edwards that relates to the Mt Edwards 26N Mineral Resource is based on, and fairly
represents, information and supporting documentation compiled and prepared by Mr Andrew Bewsher. Mr Bewsher is an employee
of BM Geological Services who provides consulting services to Neometals Ltd.
Messrs Hudson, Marshall and Bewsher are Members of The Australasian Institute of Geoscientists have sufficient experience which
is relevant to the styles of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as
a Competent Person as defined in the 2012 Edition of the JORC Code.
The information in this presentation that relates to the Munda, Armstrong, Gillett & 132N Nickel Mineral Resources is based on, and
fairly represents, information and supporting documentation compiled by Richard Maddocks; MSc in Mineral Economics, BAppSc in
Applied Geology and Grad Dip in Applied Finance and Investment. Mr. Maddocks is a consultant to Auralia and is a Fellow of the
Australasian Institute of Mining and Metallurgy (member no. 111714) with over 30 years of experience. Mr. Maddocks has sufficient
experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined in the JORC Code. Mr. Maddocks consents to the inclusion in this Report of
the matters based on his information in the form and content in which it appears.




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