ALCHEMY RESOURCES LIMITED — AGM Information 2023

Nov 20, 2023

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Annual General Meeting Presentation November 2023 | ASX:ALY

www.alchemyresources.com.au

DISCLAIMER

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Disclaimer

This presentation has been prepared by Alchemy Resources Limited ( Alchemy or the Company ). This document contains background information about Alchemy 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 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 jurisdictions. 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 a 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 (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Alchemy and 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 Alchemy. 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 any applicable law and the ASX Listing Rules, Alchemy does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation of any changes in events, conditions or circumstances on which any such forward looking statement is based.

Competent Person’s Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr James Wilson, who is the Chief Executive Officer of Alchemy Resources Limited and holds shares and options in the Company. Mr Wilson is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Wilson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources at the Hermes South Gold Deposit is based on information compiled by Mr Stephen Hyland, a geological consultant working for Superior Gold Inc. Mr Hyland is a Fellow of The Australasian Institute of Mining and Metallurgy, and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Hyland consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The West Lynn and Summervale estimates were completed by Stephen Godfrey of Resource Evaluation Services, who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Godfrey is a Fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Godfrey consents to the inclusion in this report of the matters based on his information in the form and context in which it appears .

The information in this report that relates to the Mineral Resources at West Lynn is based on information announced to the ASX on 19 February 2019 (West Lynn Ni-Co), 19 June 2019 (Summervale Al2O3) and 31 July 2020 (Hermes South Au). Alchemy confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply.

The information in this report that relates to Karonie and Overflow Mineral Resources is based on information compiled by Richard Maddocks, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Richard Maddocks is an employee of Auranmore Consulting. Richard Maddocks 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 Results, Mineral Resources and Ore Reserves’. Richard Maddocks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

1

Why Alchemy?

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Large “Battery Belt” Lithium Land Position Located east of Kalgoorlie, Western Australia, adjacent to existing lithium development Projects

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Growing Gold Inventory in well established gold districts

450koz of combined gold resources next to processing infrastructure.

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Free carried Joint Ventures with producers Joint ventures on base and precious metals projects add value via free carried interests.

2

Investment Snapshot

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Advanced Gold, Base and Battery metals in WA & NSW

KARONIE, Western Australia (ALY 100%)

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• LCT Pegmatites discovered on existing gold tenements

• 100% owned position in the battery belt

• Growing gold resource base

BRYAH, Western Australia (ALY 20%)

• Exploration: Sandfire Resources (ASX: SFR)

• Development: Hermes South (ASX: CYL)

LACHLAN, New South Wales (ALY 80% / DVP 20%)

• Yellow Mountain – High grade Cu-Au

• West Lynn –High Purity Alumina, Ni-Co Resources

• Overflow – 342koz Au-Pb-Zn Resources near to existing mines

3

Corporate Overview

CAPITAL STRUCTURE	CAPITAL STRUCTURE
SHARES ON ISSUE	1.18b
MARKET CAP@ 0.9c	$10.6M
CASH(30/09/2023)	$4.4m1
ENTERPRISE VALUE	$6.2M
MAJOR SHAREHOLDERS
NORTHERN STAR RESOURCES	6.6%
BOARD & MANAGEMENT	6.0%
MORYTON PTY LTD	4.2%
LOWELL RESOURCES FUND	3.9%
TOP 20	40.5%

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BOARD & MANAGEMENT

NON-EXECUTIVE CHAIRMAN LINDSAY DUDFIELD Geologist, +40 years' experience, Exec Director Jindalee Resources, NED Energy Metals & Dynamic Metals CHIEF EXECUTIVE OFFICER JAMES WILSON Geologist, +20 years' experience, formerly analyst for prominent WA broking houses NON-EXECUTIVE DIRECTOR LIZA CARPENE Former Company Secretary Northern Star, NED Mincor Resources & RLF Agtech NON-EXECUTIVE DIRECTOR ANTHONY HO Chartered Accountant, NED Australian Agricultural Projects & Mustera Property Group COMPANY SECRETARY CARLY TERZANIDIS Corporate Advisor, 20 years’ financial services experience, Company Secretary to ASX listed resources companies

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4

1 As at 30 September 2023

Western Australia: Gold & Battery Metals Projects

A STRATEGIC POSITION IN A WELL-ENDOWED PRECIOUS METALS BELT

KARONIE – 100% ALY:

• 110km east of Kalgoorlie – 1,190km[2] tenement package

• Adjacent to Global Lithium Resources (ASX: GL1) Manna Lithium Deposit

• Outcropping LCT Pegmatites at multiple locations

• 111koz Maiden Gold Resource released in September 2021[2]

LAKE REBECCA – 100% ALY:

• 570km[2] land package

• Adjacent to Ramelius Resources (ASX: RMS) Rebecca Project and Northern Star Resources (ASX: NST) Carosue Dam Mine

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LAKE
REBECCA
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KARONIE
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• 10km East from Carosue Dam Gold Mine operations (ASX: NST)

• Never explored for lithium

• Poorly explored for gold

Page 35

2 Refer to Alchemy Resources Limited ASX announcement dated 31 August 2021

Karonie: Lithium

Strong pipeline of Drill Ready Lithium targets identified

• Geochemical review of soil sampling data highlighted widespread lithium + pathfinder anomalism[3]

• The majority of the Karonie tenure lies adjacent to the prospective

• “Goldilocks zone” for LCT bearing pegmatite formation

• The Karonie belt has never been explored for lithium until now

• Outcropping spodumene and lepidolite identified at multiple locations[4]

• RC drilling intercepted multiple zones of lithium mineralisation which requires follow-up

• Widespread anomalous lithium mineralisation over 60km of strike extent in soils

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3 Refer to Alchemy ASX announcement dated 22 April 2022 4 Refer to Alchemy ASX announcement dated 27 October 2023

6

Karonie: Lithium

Strategic tenure adjacent to a Lithium development play

▪ ALY tenure is 100% owned

▪ Granted tenure surrounding ASX: GL1

tenure

▪ Tenure sits within the “Goldilocks zone” in proximity to the Cardunia Granite – the “fertile parent granite” for LCT Mineralisation in the area

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7

Karonie: Lithium

Highly prospective tenure

• Soil sampling has identified numerous zones of Lithium and Pathfinder element anomalism

• Roe Hills, Taupo North and Cherry-Pecan trend remain largely untested

• Multiple anomalous zones up to 12km x 6km

• Exploration mapping has identified zones of Lepidolite at Mesquite Prospect[4] and spodumene was intercepted in RC drilling at Hickory[5]

• Follow-up drilling due to commence in December 2023

• Soil sampling commencing early 2024

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5 Refer to Alchemy ASX announcement dated 13 January 20235 Refer to Alchemy ASX announcement dated 13 January 2023

Karonie: Lithium

Karonie Regional Exploration

Belt scale lithium prospectivity

• Regional soil geochemistry highlights “belt scale” potential[6]

• Red Oak & Alder which show coincident lithium and pathfinder anomalism

• Multiple regional targets to test within 60km area along strike from Cherry/Hickory

• Follow-up work planned

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6 Refer to Alchemy ASX announcement dated 13 September 2022

Karonie: Gold

A traditional gold province for many decades…

• Adjacent to the Silver Lake Resources (ASX: SLR) Aldiss Mining Operation (currently operating)

• Maiden 111,100oz Resource released in mid-2021[2]

• Near surface gold resources at Taupo, KZ5 and Parmelia

• Over 16 regional advanced gold targets which require follow-up

• Drill testing discovered mineralisation at Karonie East where previous explorers did not

• Further work planned at Challenger, Western Brown and Gilmore in 2024

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10

Lake Rebecca – Lithium / Gold

LAKE REBECCA - (ALY 100%)

• Strategic landholding in a multi-million-ounce gold corridor

• 6km West of Ramelius’ Rebecca Gold Project & 10km East of ASX:

NST’s Carosue Dam Gold Mine

• Dominant tenure along the Claypan Shear and Keith Kilkenny shear

• Lithium soil sampling due to commence in late November 2023

• Heritage agreements completed

• Never assessed for lithium potential until now

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11

Bryah Basin Joint Ventures (ALY 20%)

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7 Refer to Alchemy ASX announcement dated 24 February 2015 8 Refer to Alchemy ASX announcement dated 8 May 2019

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New South Wales Projects: Cobar Basin & Lachlan Fold Belt (ALY 80%: DVP 20%)

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HIGH QUALITY BASE AND PRECIOUS METALS PROSPECTS:

• MELROSE: (IRGS Au-Cu)

• YELLOW MOUNTAIN: (Cu-Au porphyry, VMS)

• OVERFLOW: 342koz AuEq gold & base metal Resource[9]

• WEST LYNN / SUMMERVALE

• HPA and Nickel Cobalt Resource

• 21.3Mt @ 0.84% Ni, 0.05% Co[10]

• 6.6Mt @ 20.8% Al2O3 (HPA)[11]

• Option agreement with Ionick Metals for potential spin-out signed in November 2023[12]

9 Refer to Alchemy Resources Limited ASX announcement 20 October 2023 10 Refer to Alchemy Resources Limited ASX announcement dated 19 February 2019 11 Refer to Alchemy Resources Limited ASX announcement dated 19 June 2019 12 Refer to Alchemy Resources Limited ASX announcement dated 9 November 2023

13

New South Wales Projects

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NSW Projects in Joint Venture with Develop Global (ASX:DVP)

• Alchemy 80% interest and operator of JV

• YELLOW MOUNTAIN (High grade Cu-Au) – not drilled since 1986

• MELROSE (IRGS Au-Cu) – High grade gold - proximal to Mineral Hill Mine

• owned by Kingston Resources

• OVERFLOW (high grade Au + base metals) – 342koz Resource within

• trucking distance to existing infrastructure including Aurelia’s Hera Mine

and Kingston Resources Mineral Hill Mine⁹

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14

NSW Projects – Yellow Mountain Mine Prospect

Extensive historic workings not drilled since 1986

• :

• Historic drilling intercepts[13]

  • 52m @ 0.54g/t Au, 0.31% Cu, 35g/t Ag, 1.15%

    • Pb and 1.28% Zn

  • 40m @ 0.49g/t Au, 0.34% Cu 29g/t Ag, 1.18% Pb, 1.81% Zn

• Grab samples of 7.15% Cu, 6.4% Pb in mullock

• stockpiles at surface[14]

• Drill testing in 1H 2024 pending access approvals

• Land Access Agreements nearing completion

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13 Refer to Alchemy Resources ASX Announcement 9 June 2019 14 Refer to Alchemy Resources ASX Announcement 2 August 2021

15

NSW Projects – Overflow

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OVERFLOW

• 342koz Maiden Resource at 1.3g/t AuEq⁹

• High grade drill intercepts intercepts[15]

• 6m @ 7.6g/t Au, 3.6% Zn, 1.6% Pb

• 10m @ 4.4g/t Au, 3% Zn, 1.3% Pb

• Mineralisation traced over 700m strike

• Open along strike and at depth

• Additional drill testing planned in CY 2024

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15 Refer to Alchemy Resources ASX Announcement 14 December 2020

16

NSW Projects – Overflow Regional

OVERFLOW REGIONAL EXPLORATION

• Regional structures along strike from Overflow are poorly

tested

• Regional Target 1 has never been drilled despite showing

• structural similarities to Overflow

• Regional Target 2 has multiple zones not followed up since

• 1978 by Aberfoyle including:

  • 0.28m @ 5.1% Cu and 0.7m @ 6.8% Cu, 1.2% Pb[16]

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16 Refer to Alchemy Resources ASX Announcement 20 October 2023

17

NSW Projects – WEST LYNN

WEST LYNN Nickel-Cobalt-HPA

• Advanced critical metals

• Positive metallurgical test-work completed in 2019[17]

• HPA Product achieved – requires additional test work to achieve 4N quality

• HPA Deposit sits above Ni-Co Resource and could be

mined concurrently

• Option agreement signed with Ionick Metals

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17 Refer to Alchemy Resources ASX Announcement 19 June 2019

18

Indicative Exploration Timeline – strong pipeline of news flow*

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KARONIE(ALY 100%)	Q4 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
RC drilling	Karonie Lithium			Follow-u	p drilling
Regional Lithium XRF Mapping
Lithium Regional soils
BRYAH BASIN JVs(ALY 20%)
Catalyst Metals (Hermes South Exploration)
Sandfire JV Aircore / RC Drilling
COBAR BASIN & LACHLAN FOLD BELT (ALY 80%)
Yellow Mountain Land Access
Yellow Mountain & Melrose Drilling
Overflow Drilling
LAKE REBECCA (ALY 100%)
Project Wide Soil Sampling
Targeting study / Reconnaissance sampling
Soil Sampling / Aircore Drilling

19

* The indicative timetable is based on ALY’s current intentions and from company announcements regarding Joint Venture interests, is indicative only and is subject to change

Alchemy – Investment Thesis

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Dominant Lithium land position Portfolio leveraged to future facing and critical metals

Experienced team with proven track record

Projects located in close proximity to lithium and gold processing infrastructure in Australia

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Fully funded for exploration in 2024

Drill testing of lithium targets to commence in December 2023. Gold and base metals targets testing in 2024

Attractive enterprise value and leverage to exploration success

20

Appendix 1: Mineral Resources

Table A: Hermes South Joint Venture Indicated and Inferred Mineral Resource Estimate (compliant with the JORC Code 2012 guidelines)

Hermes South	Tonnes(Mt)	Grade(g/t Au)	Au(Ounces)
Indicated	1.29	1.7	72,000
Inferred	0.95	1.4	42,000
Total	2.24	1.6	114,000

Notes:

• Joint Venture resource estimate reported on a 100% basis (Superior Gold 80%, Alchemy Resources 20%).

• Top-cuts were applied to the drill hole composite file prior to grades being interpolated

• A lower cut-off of 0.6 g/t Au was used to report the resource

• All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)

• Refer to Alchemy ASX announcement dated 8 May 2019

Table B: West Lynn Project Inferred Ni-Co Mineral Resource Estimate (compliant with the JORC Code 2012 guidelines)

Deposit	Tonnes(Mt)	Ni %	Co %	Al %	Fe %
West Lynn	14.7	0.85	0.05	2.4	20.2
Summervale	6.6	0.82	0.04	2.4	19.7
TOTAL	21.3	0.84	0.05	2.4	20

Notes:

• A lower cut-off of 0.6 g/t Au was used to report the resource

• All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)

• Refer to Alchemy Resources Limited ASX announcement dated 19 February 2019

Table C: Summervale Inferred Alumina Mineral Resource Estimate (compliant with the JORC Code 2012 guidelines)

Deposit	Tonnes(Mt)	Al2O3%	Fe2O3%	K2O%	Na2O%	TiO2%	SiO2%
Summervale	6.55	20.8	2.8	1.79	0.43	1.15	64.2

Notes:

• A lower cut-off of 18% Al2O3 was used to report the resource

• All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)

• The grades are not screened/beneficiated figures

• Refer to Alchemy Resources Limited ASX announcement dated 19 June 2019

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21

Appendix 1: Mineral Resources

Table D: Karonie Project Inferred Resource

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Table E: Overflow Project Inferred Resource

Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm	Cut off grade AuEq AuEq Au Eq Tonnes ppm Ounces Auppm Ag ppm Cuppm Pbppm Znppm
0.7	8,189,000	1.3	342,300	0.5	54.7	357	2,549	5,236

Notes:

• All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)

• • Refer to Alchemy ASX announcement dated 20 October 2023

Notes:

• All figures rounded to reflect the appropriate level of confidence (apparent differences may occur due to rounding)

• • Refer to Alchemy ASX announcement dated 31 August 2021

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ENQUIRIES:

CONTACT: JAMES WILSON, CEO

E: james@alchemyresources.com.au

P: 08 9481-4400

W: alchemyresources.com.au