ARDIDEN LTD — Investor Presentation 2020

Nov 25, 2020

1

==> picture [286 x 289] intentionally omitted <==

• ASX Explorer Canadian Gold

Building a Compelling Gold Project in Ontario, Canada

==> picture [211 x 105] intentionally omitted <==

==> picture [211 x 105] intentionally omitted <==

26 November 2020 ASX: ADV

Version 28.0 Full Pack

This presentation has been prepared by Ardiden Limited (ABN 82 110 884 242) (ASX:ADV) ( Company ).

Summary of information: This presentation contains general and background information about the Company’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an investor should consider when making an investment decision. The information is provided in summary form, has not been independently verified, and should not be considered to be comprehensive or complete. The Company is not responsible for providing updated information and assumes no responsibility to do so. Not financial product advice: This presentation is not financial product, investment advice or a recommendation to acquire the Company securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. The Company is not licensed to provide financial product advice in respect of its securities or any other financial products. Cooling off rights do not apply to the acquisition of the Company securities. The Company assumes that the recipient is capable of making its own independent assessment, without reliance on this document, of the information and any potential investment and will conduct its own investigation. Disclaimer: The Company and its related bodies corporate and each of their respective directors, agents, officers, employees and advisers expressly disclaim, to the maximum extent permitted by law, all liabilities (however caused, including negligence) in respect of, make no representations regarding, and take no responsibility for, any part of this presentation and make no representation or warranty as to the currency, accuracy, reliability or completeness of any information, statements, opinions, conclusions or representations contained in this presentation. In particular, this presentation does not constitute, and shall not be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of the Company.

Future performance: This presentation contains certain forward-looking statements and opinion. The forward-looking statements, opinion and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of the Company. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast.

www.ardiden.com.au: Previously Reported Information: This presentation refers to the following information previously announced to the ASX, which is available to view on the Company’s website at

• 20 November 2020: South Limb and Kasagiminnis Exploration Update and Increase to 857km[2] Landholding

• 6 November 2020: Initial Kasagiminnis Assays Show Strong Gold Mineralisation

• 13 October 2020: Tier 1 Scale Gold Targets at New Patricia

• 6 October 2020: South Limb Gold Prospect Ready to Drill

• 16 September 2020: Company Presentation – RIU Conference

• 8 September 2020: Airborne Geophysics Survey Underway at New Patricia

• 3 September 2020: Visible Gold in First Kasagiminnis Drillhole

• 1 September 2020: Drilling Underway at Kasagiminnis

• 18 August 2020: Kasagiminnis Exploration Awarded & Driller Engaged

• 3 August 2020: Ardiden Exploration Update

• 15 July 2020 : Ardiden to raise up to $4.5m

• 16 June 2020: Ardiden - Gold Pipeline

• 27 May 2020: Drilling and Exploration Target at Pickle Lake Gold Project

• 21 April 2020: Ardiden signs Gold Exploration MOU with Ontario First Nation

• 9 April 2020: Ardiden Amasses Largest Gold Landholding at Pickle Lake

• 18 February 2020: High Grade Gold Intercepts over 25km Strike at Pickle Lake

• 10 September 2019: Maiden High-Grade Gold Resource at Pickle Lake

• 31 August 2018: High-Grade Gold Results Underpin Potential at Pickle Lake

• 31 July 2018: Ardiden Exercises Option to Acquire Highly Prospective Pickle Lake Gold Project

• 25 July 2018: Ardiden Completes Successful Due Diligence Drill Program at Pickle Lake

• 2 August 2017: Ardiden Options Highly Prospective Gold Project

The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcements referred to above, and that all material assumptions and technical parameters have not materially changed. 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. Not an offer: This presentation is not, and should not be considered as, an offer or an invitation to acquire securities in the Company or any other financial products and neither this document nor any of its contents will form the basis of any contract or commitment. This presentation is not a prospectus. Offers of securities in the Company will only be made in places in which, or to persons to whom it would be lawful to make such offers. This presentation must not be disclosed to any other party and does not carry any right of publication. Neither this presentation nor any of its contents may be reproduced or used for any other purpose without the prior written consent of the Company. Photographs: Photographs of customers in this presentation are not photographs of the Company’s actual customers and have been used for illustration purposes only. Monetary values: Unless otherwise stated, all dollar values are in Australian dollars (A$). The information in this presentation remains subject to change without notice.

==> picture [1920 x 205] intentionally omitted <==

----- Start of picture text -----

3
Corporate Structure
on 25 November 2020
----- End of picture text -----*

==> picture [169 x 72] intentionally omitted <==

==> picture [892 x 652] intentionally omitted <==

ASX Code	ADV
Shares on Issue	2.1B
Unlisted Options (with performance Hurdles)	74M
Share Price (close 25 Nov 2020)	2.1c
Market Capitalisation	AUD 45m
Cash (30 Sep 2020)	AUD 4.1m
Top 20 Shareholders	28%
Substantial: 1832 Asset Management L.P.	8.2%

3 3

==> picture [1920 x 460] intentionally omitted <==

----- Start of picture text -----

Board & Management 4
----- End of picture text -----

Rob Longley

Pauline Gately

Neil Hackett

Dan Grabiec

Managing Director & CEO BSc, Hons, Geology

Non-Executive Director BA Hons, Econ, Grad Dip Acc, GAICD

Non-Executive Chairman BEcon, FFin, GAICD

Exploration Manager P.Geo

Geologist with extensive gold discovery & mining experience in Australia & Internationally.

Graduated with First Class Honours, Geology, from University of WA. Has worked with Rio Tinto, BHP & junior/mid-tier companies. Technically minded & focused on achieving success by delivering value to shareholders.

International investment banking veteran with over 20 years experience in senior roles, & Company director. Chair of ASX-listed Australia Primary Hemp Ltd (ASX:APH).

Previously served as Chairperson of SGX-listed Alliance Mineral Assets Ltd (AMAL), oversaw a ten-fold increase in market capitalisation before merging with Tawana Resources NL.

Director with 25 years experience with ASX200 resources entities, diversified industrials, funds management, & ASIC. Non-Executive Director of Hastings Technology Metals Ltd (ASX:HAS), Intelicare Ltd (ASX:ICR) & Steel Blue.

Neil helped drive the successful acquisition of Ampella Mining by Centamin Plc for a significant premium in 2014.

Geologist based in Canada with significant exploration & development experience in Canada, overseeing & carrying out high-quality drilling programs, resource definition drilling & analysing geological structures. Previously Project Geologist at Greenstone Gold Mines Ltd.

Since July 2018

Since June 2012

Since May 2019

Since August 2018

4

5

==> picture [1920 x 209] intentionally omitted <==

----- Start of picture text -----

5
NORTH
AMERICA
----- End of picture text -----

Australia-Canada Golden Synergies

==> picture [211 x 106] intentionally omitted <==

==> picture [211 x 105] intentionally omitted <==

Archean Greenstones Similar Mineralisation styles Well regulated industry Safe Investment /Operating Regime

==> picture [1248 x 857] intentionally omitted <==

==> picture [1920 x 209] intentionally omitted <==

----- Start of picture text -----

6
ONTARIO ⬢
Large, high-grade Gold Mines in Tier 1 Jurisdiction
⬢ 20 Operating Gold Mines and 2.5Moz annual Gold production in Ontario
----- End of picture text -----

==> picture [233 x 236] intentionally omitted <==

==> picture [1202 x 830] intentionally omitted <==

Ardiden Canadian Exploration Assets in northwest Ontario:

==> picture [88 x 102] intentionally omitted <==

• Gold (857 km[2] ) Pickle Lake Gold Project 21 Gold Prospects • Lithium (92 km[2] ) Seymour Lake Wisa Lake Root Lake

==> picture [88 x 102] intentionally omitted <==

Archean Greenstone Belts of Ontario

6

⬢ Ardiden has continuous exploration ground over a 100km wide belt (in orange below)

==> picture [1407 x 645] intentionally omitted <==

Neighbouring Activity :

• ⬢ Evolution (ASX:EVN MCap $8.3B) Mining & Exploration Operations at Red Lake (457km[2] )

• ⬢ First Gold Mining’s Pickle Crow Project where Auteco (ASX:AUT MCap $145M) 5-Year 80% earn-in commenced Feb 2020

• ⬢ Newmont Corp's Dona Lake Gold Mine where Metals Creek (TSVMEK, MCap $5m) 3-Year earn-in commenced June 2019

Pickle Lake District

• *1-The potential quantity and grades stated for the Exploration Target is conceptual in nature and there has been insufficient exploration to define Mineral Resources across the exploration target area. It is uncertain if further exploration of these targets will produce results that permit additional Mineral Resources to be estimated.

*2- Non-JORC historical estimates (1987-1993) by original owners of the Kasagiminnis, Dorothy and Dobie Deposits, were summarised in 2009 in an NI43-101 Technical Report on Gold Properties within the Pickle Lake area (Harron, 2009). The historical resource estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the historical estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the historical estimates will be able to be reported as mineral resources in accordance with the JORC Code. The Company is progressively converting historical data to JORC reporting standards with additional drilling and technical evaluation and the upcoming drill programme at Kasagiminnis is continuing the process.

==> picture [10 x 13] intentionally omitted <==

----- Start of picture text -----

7
----- End of picture text -----

==> picture [1920 x 208] intentionally omitted <==

----- Start of picture text -----

Ontario ‘Uchi’ 8
Prolific Gold Production active in Red Lake-Pickle Lake District:
Greenstone Belt
----- End of picture text -----

==> picture [1259 x 794] intentionally omitted <==

==> picture [88 x 102] intentionally omitted <==

==> picture [88 x 102] intentionally omitted <==

==> picture [88 x 103] intentionally omitted <==

Gold Production

Musselwhite: +5Moz Gold Red Lake: 30 Moz Gold Pickle Lake: 3 Moz Gold

Geological Underlay of the Red Lake to Pickle Lake Greenstone Belt

8

==> picture [1920 x 163] intentionally omitted <==

----- Start of picture text -----

Large High-Grade Gold Mines 9
----- End of picture text -----

==> picture [1018 x 851] intentionally omitted <==

==> picture [88 x 102] intentionally omitted <==

Kasagiminnis 110,000oz Au JORC Inferred Resource

790,000t @ 4.3g/t Au un-tested below 280m Exploration Target*[1] 0.5-1.2Moz 4.0-5.8Mt @ 3.9-6.6 g/t Au to 500m below surface

==> picture [88 x 102] intentionally omitted <==

==> picture [88 x 102] intentionally omitted <==

Alongside high-grade historic underground gold mines which produced > 3Moz gold at 13g/t Au*

==> picture [88 x 102] intentionally omitted <==

Pickle Lake underground gold mines developed down to 1.2km below surface

*1-The potential quantity and grades stated for the Exploration Target is conceptual in nature and there has been insufficient exploration to define Mineral Resources across the exploration target area. It is uncertain if further exploration of these targets will produce results that permit additional Mineral Resources to be estimated.

*Information in relation to historical gold production at the Pickle Lake Gold Camp, and Golden Patricia Mine in Figures and notes above has been referenced from three sources of publication, namely: 1. Harron, G. A. 2009. Technical Report on Three Gold Exploration Properties Pickle Lake Area, Ontario, Canada. G.A. Harron, P.Eng., G.A. Harron & Associates Inc. 2. Smyk, M., Hollings, P. and Pettigrew, N., 2015. Geology and Mineral Deposits of The Pickle Lake Greenstone Belt. Institute on Lake Superior Geology, May 20-24, 2015 Field Trip Guidebook and 3. Puumala, M. A. 2009. Mineral Occurrences of the Central and Eastern Uchi Domain. Ontario Geological Survey, Open File Report 6228

9

==> picture [1920 x 153] intentionally omitted <==

----- Start of picture text -----

Ardiden’s Pickle Lake Gold Project: 857km [2] : 22 Identified Gold Prospects and Deposits 10
----- End of picture text -----

==> picture [885 x 370] intentionally omitted <==

2019: Prior to ‘Pivot’ to Gold

==> picture [1211 x 506] intentionally omitted <==

----- Start of picture text -----

Assessment
Credit system
of Expenditure
Permitting & Approvals
----- End of picture text -----

November 2020: ‘Pipeline’ of Connected Gold Projects

==> picture [100 x 102] intentionally omitted <==

10

==> picture [1920 x 164] intentionally omitted <==

----- Start of picture text -----

Pickle Lake 11
Gold Pipeline – “Spoilt for Choice” - 21 recognised Gold Deposits & Prospects
Gold Project:
----- End of picture text -----

==> picture [88 x 102] intentionally omitted <==

==> picture [88 x 102] intentionally omitted <==

==> picture [88 x 102] intentionally omitted <==

==> picture [420 x 651] intentionally omitted <==

----- Start of picture text -----

Three Advanced Gold Deposits
▪
1. Kasagiminnis
▪
2. Dobie
▪
2. Dorothy
Four Brownfield Gold Prospects
▪
3. New Patricia/Esker
▪
4. South Limb
▪
West Pickle
▪
Tonsil
Multiple Highly-Prospective
Greenfield Gold Prospects
----- End of picture text -----

==> picture [1264 x 796] intentionally omitted <==

==> picture [642 x 28] intentionally omitted <==

----- Start of picture text -----

Pickle Lake Gold Project – Ardiden’s Gold Prospects
----- End of picture text -----

Permitting, Approvals & Timetable Non-JORC historical estimates (1987-1990) by original owners of the Dorothy and Dobie Deposits, were summarised in 2009 in an NI43-101 Technical Report on Gold Properties within the Pickle Lake area (Harron, 2009). The historical resource estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the historical estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the_ in Appendix* _historical estimates will be able to be reported as mineral resources in accordance with the JORC Code..

11

==> picture [1920 x 176] intentionally omitted <==

----- Start of picture text -----

1. 12
Kasagiminnis Gold Deposit - Drilling commenced 1 Sep 2020
----- End of picture text -----

==> picture [1502 x 805] intentionally omitted <==

⬢ Drilling planned to grow high-grade Kasagiminnis 110,000oz @ 4.3 g/t Au Maiden JORC Inferred Resource

• ⬢ Exploration Target at Kasagiminnis Deposit 0.5 – 1.2Moz at 3.9-6.6 g/t Au to 500m below surface

• ⬢ Kasagiminnis Deposit: 2020 Summer Drilling, programme Commenced 1 Sep 2020

• ⬢ Larger Drill programme planned for Winter JanMarch 2021

Drilling at the 100%-owned Kasagiminnis Gold Deposit

12

==> picture [1920 x 217] intentionally omitted <==

----- Start of picture text -----

13
1. Kasagiminnis Deposit - 2020 “Summer” Drilling
----- End of picture text -----

==> picture [619 x 821] intentionally omitted <==

Cross Section 682475E Kas Deposit-Looking West

• Drilling at Kasagiminnis: ⬢ Phase 1: 3000m - Summer 2020: ⬢ 12 Holes completed so far for 2,856m ⬢ Zones of silicification, alteration and sulphides intersected in all holes

• ⬢ Results for first 4 holes received • 6.0m @ 4.23g/t Au KAS20-02

• • 6.5m @ 4.28g/t Au KAS20-03

==> picture [399 x 299] intentionally omitted <==

‘ Hemlo ’ is a comparable Archean gold lode deposit in Ontario that has produced more than 20 Moz of gold since it commenced production in 1985.

==> picture [708 x 418] intentionally omitted <==

==> picture [708 x 349] intentionally omitted <==

==> picture [19 x 13] intentionally omitted <==

----- Start of picture text -----

13
----- End of picture text -----

==> picture [1920 x 217] intentionally omitted <==

----- Start of picture text -----

14
1. Kasagiminnis Deposit
Exploration Activities (October-November 2020)
----- End of picture text -----

==> picture [687 x 441] intentionally omitted <==

Drill site, Kasagiminnis Gold Deposit

==> picture [687 x 346] intentionally omitted <==

==> picture [254 x 439] intentionally omitted <==

==> picture [254 x 439] intentionally omitted <==

Geochemical Sampling , Kasagiminnis

==> picture [579 x 345] intentionally omitted <==

==> picture [411 x 628] intentionally omitted <==

14

==> picture [1920 x 375] intentionally omitted <==

----- Start of picture text -----

15
2.
Dorothy-Dobie
High-Grade Gold Drill Intercepts Across Entire Landholding
High-Grade Gold
over 25km Strike
----- End of picture text -----

*Non-JORC historical resource estimates (1987-1990) by original owners of the Dorothy and Dobie Deposits, were summarised in 2009 in an NI43-101 Technical Report on Gold Properties within the Pickle Lake area (Harron, 2009). The historical resource estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the historical estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the historical estimates will be able to be reported as mineral resources in accordance with the JORC Code..

15

==> picture [1920 x 217] intentionally omitted <==

----- Start of picture text -----

16
3. New Patricia Gold Prospect (earn-in with Exiro)
Detailed Airborne Geophysics : Drill Targeting
TerraQuest Helicopter at Ardiden’s New Patricia Gold Prospect, Pickle Lake
----- End of picture text -----

==> picture [1161 x 731] intentionally omitted <==

⬢ Tier-1 large-scale structural targets

⬢ Esker Prospect clearly defined as an 8km-wide ‘Fold-Nose’ target analogous in scale and structure to Newmont’s nearby 5 Moz Musselwhite Gold Mine (145km north)

⬢ 8km-long Dilation Shear Zone identified at New Patricia is analogous to Ardiden’s Kasagiminnis Gold Deposit and Barrick’s Koval and Hemlo Gold Deposits.

==> picture [709 x 300] intentionally omitted <==

16

==> picture [1920 x 221] intentionally omitted <==

----- Start of picture text -----

17
4.
South Limb Gold Prospect - Fully Permitted
Covers the southern extension of the Dona Lake gold-bearing lithological units.
----- End of picture text -----

==> picture [630 x 396] intentionally omitted <==

==> picture [630 x 393] intentionally omitted <==

• South Limb Prospect next cab of the drilling rank

• • UAV Magnetics recently flown

==> picture [409 x 312] intentionally omitted <==

==> picture [387 x 291] intentionally omitted <==

==> picture [650 x 646] intentionally omitted <==

==> picture [100 x 102] intentionally omitted <==

• Strong concentration of Iron Formation in largely untested area

• • Close proximity to a known gold deposit (Dona Lake Gold Mine)

• • High priority target to commence drill testing

17

==> picture [1920 x 195] intentionally omitted <==

----- Start of picture text -----

First Nation Group 18
Engagement
----- End of picture text -----

==> picture [673 x 357] intentionally omitted <==

==> picture [224 x 360] intentionally omitted <==

• ⬢ Ardiden is working closely with First Nations Groups and stakeholders across all its projects

• ⬢ Ensuring nearby First Nation Communities’ cultures and traditional activities are respected

==> picture [944 x 525] intentionally omitted <==

----- Start of picture text -----

18
----- End of picture text -----

• ⬢ Negotiation and Agreement with First Nations Groups before exploration activities

• ⬢ Signed MOU with Mishkeegogamang First Nations to proceed with exploration work at Kasagiminnis Deposit (ASX -21 April 2020) and South Limb Gold Prospect (ASX 6 Oct 2020)

• ⬢ Discussions with Slate Falls and Cat Lake First Nations groups underway

==> picture [1920 x 238] intentionally omitted <==

----- Start of picture text -----

⬢ 8km from Pickle Lake Town - population circa 500 19
Established
⬢ 350km north of regional mining center of Thunder Bay - population circa 100,000
Infrastructure
⬢ Flights from Thunder Bay to Pickle Lake or safe drive via sealed National highway
----- End of picture text -----

==> picture [717 x 350] intentionally omitted <==

⬢ Pickle Lake Sealed Airstrip

==> picture [759 x 351] intentionally omitted <==

⬢ Thunder Bay Port Terminal

==> picture [717 x 338] intentionally omitted <==

⬢ Pickle Lake Headframe (Central Patricia)

==> picture [760 x 338] intentionally omitted <==

⬢ Bitumen Highway to Pickle Lake Township

19

==> picture [1920 x 179] intentionally omitted <==

----- Start of picture text -----

20
Newsflow – Drilling, Results, Geophysics, JORC Resource Upgrade
----- End of picture text -----

==> picture [186 x 187] intentionally omitted <==

SEPT QTR

⬢ Drilling at Kas ⬢ Detail Airborne & Ground Geophysics Surveys

⬢ Expanded Drill Targeting

==> picture [186 x 186] intentionally omitted <==

MARCH QTR

==> picture [87 x 78] intentionally omitted <==

  - ⬢ Kasagiminnis Winter Drilling

• ⬢ Drilling Other Brownfields Gold Prospects (South Limb, New Patricia)

• ⬢ Updated Kas JORC MinRes Estimate

==> picture [469 x 314] intentionally omitted <==

DEC QTR

     - ⬢ FN Agreements

• ⬢ New Patricia Geophysics Results

  • ⬢ Next Drill results at Kas

• ⬢ South Limb Prospect Drilling

20

2021

2020

==> picture [1920 x 277] intentionally omitted <==

----- Start of picture text -----

⬢ 21
Ardiden’s Spodumene Ardiden has 3 Lithium Projects in northwest Ontario: Seymour, Wisa and Root Lake
Lithium Projects in ⬢ All Tenements ‘in credit’
northwest Ontario
⬢ Walk-up Spodumene drill targets at Root Lake and Wisa Lake
----- End of picture text -----

==> picture [1116 x 763] intentionally omitted <==

⬢ Seymour Lake

• 4.8Mt JORC Resource & Exploration Target

• • Alongside Trans-Canadian Railway

==> picture [355 x 210] intentionally omitted <==

==> picture [296 x 210] intentionally omitted <==

⬢

• Historical Resources & Multiple outcropping Pegmatites Close to Ardiden’s Pickle Lake Gold Project

⬢

• Drill-ready Pegmatite Targets

• Close to Railway and US Border

⬢ Thunder Bay Industrial Hub

• Available Industrial Sites & Infrastructure

• • Global Shipping Terminal

21

==> picture [100 x 102] intentionally omitted <==

Competent Person’s Statement

The information in this report that relates to Exploration Results and Exploration Targets at the Pickle Lake Prospects is based on, and fairly represents, information and supporting documentation prepared by Mr Robin Longley, a Member of the Australian Institute of Geoscientists. that it a named competent person or persons; Mr Longley is a full-time employee of Ardiden Limited. Mr Longley has sufficient experience which is relevant to the style of mineralisation and type of deposit and to the activity which they are undertaking 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”. Mr Longley consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Clarification Statement Exploration Target - T he potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The information in this report that relates to JORC Mineral Resources at the Kasagiminnis Deposit is based on, and fairly represents, information and supporting documentation prepared by Mr Robin Longley, a Member of the Australian Institute of Geoscientists, and Mrs Christine Standing, a Member of the Australian Institute of Geoscientists and a Member of the Australasian Institute of Mining and Metallurgy. Mr Longley is a full-time employee of Ardiden Limited. Mrs Standing is employed by Optiro Pty Ltd and is a consultant to Ardiden. Mr Longley and Mrs Standing have sufficient experience which is relevant to the style of mineralisation and type of deposit and to the activity which they are undertaking 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”. Mr Longley and Mrs Standing consent to the inclusion in this report of the matters based on this information in the form and context in which it appears.

The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcements referred to above, and that all material assumptions and technical parameters have not materially changed. 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.

The information in this report that relates to Historical Estimates of mineralisation at the Dorothy and Dobie Gold Deposits is based on is based on, and fairly represents, information and supporting documentation prepared by Mr Robin Longley, a Member of the Australian Institute of Geoscientists. The information in this announcement provided under ASX Listing Rules 5.12.2 to 5.12.7 is an accurate representation of the available data and studies for the Pickle Lake Gold Project. Mr Longley is a full-time employee of Ardiden Limited. Mr Longley consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. : Reference: Harron, 2009 NI43-101 Technical Report on “ Three Gold Exploration Properties Pickle Lake Area, Ontario, Canada, for Manicouagan Minerals Inc”, G.A. Harron, P.Eng., G.A. Harron & Associates Inc, October 13, 2009. www.murchisonminerals.com/site/assets/files/5443/pickel-lake-project_tehcnical_report.pdf

Lake Seymour Lithium Project : The information in this announcement that relates to the Mineral Resource Estimate and the Exploration Target adjacent to the North Aubry Mineral Resource is based on, and fairly represents, information and supporting geological information and documentation that has been prepared by Mr Philip Alan Jones, an independent consulting geologist who is a Member of the AusIMM and a Member of the AIG. Mr Jones is a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Jones has more than five years of experience that is relevant to the style of mineralisation and type of deposit described in the announcement and in particular the completion of Mineral Resource Estimates. Mr Jones consents to the inclusion of the information in this report in the form and context in which it appears.

The information in this announcement that relates to the Lithium Exploration Targets present at the “A”,”I” and Pye prospects is based on, and fairly represents, information and supporting geological information and documentation that has been prepared by Mr Peter Spitalny who is a geologist, a Member of the AusIMM and a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Spitalny has more than five years of experience that is relevant to the style of mineralisation and type of deposit described in the announcement and in the activity undertaken namely the assessment and exploration of pegmatites. Mr Spitalny consents to the inclusion of the information in this report in the form and context in which it appears.

ASX announcements pertaining to Exploration Results and Mineral Resources are available from the Company’s website: www.ardiden.com.au

23

Building a Compelling Gold Project in Ontario, Canada

==> picture [286 x 290] intentionally omitted <==

Rob Longley Ardiden Limited MD & CEO

+61 8 9322 7600 info@ardiden.com.au www.ardiden.com.au

==> picture [307 x 451] intentionally omitted <==