ARIKA RESOURCES LIMITED — AGM Information 2018

Nov 22, 2018

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Discovery, development and acquisition
AGM Presentation
23 [rd] November 2018
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Building a prospective nickel and copper portfolio

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• Building a prospective nickel and copper portfolio of projects, WA.

• Strong leverage to the rising base metals and high growth battery metals sectors. Primary assets:

• Nickel-copper exploration targets in the Fraser Range covering a total area of 636km[2 ] the subject of option agreements by the Company

• Copper exploration targets in the Paterson Province covering a total area of 2,166km[2] owned 100% by the Company

Secondary assets:

• World class zinc development projects in the Kimberley covering a total area of km[2] currently being listed on the TSX-V, anticipated receipt of A$35M

• Prospective lithium exploration projects in the Pilbara covering a total area 1,200km[2] currently in a sale process, anticipated completion Dec Q 2018

• Sector leading mining company shareholders/stakeholder FMG, China Minmetals.

• High impact well funded geophysics and drilling work planned for 2019.

• Experienced Board and Management team have significant shareholding.

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2

Resolution Vote summary

Resolution #	Resolution Description	Lodged For Votes Holders %	Lodged Open Votes Holder s %
1	ADOPTION OF REMUNERATION REPORT	10,661,891 40 79.97	718,194 17 5.39
2	RE-ELECTION OF DIRECTOR - ANDREW DALEY	12,815,912 62 91.23	809,874 20 5.77
3	ELECTION OF DIRECTOR - JUSTIN BARTON	12,447,932 59 90.75	809,874 20 5.9
4	APPROVAL OF 10% PLACEMENT CAPACITY	12,063,088 39 87.09	797,813 19 5.76

Resolution #	Resolution Description	Lodged Against	Total Available % IC Votes
		Votes Holders %
1	ADOPTION OF REMUNERATION REPORT	1,952,837 28 14.65	13,332,922 2.22
2	RE-ELECTION OF DIRECTOR - ANDREW DALEY	422,242 13 3.01	14,048,028 2.33
3	ELECTION OF DIRECTOR - JUSTIN BARTON	458,444 14 3.34	13,716,250 2.28
4	APPROVAL OF 10% PLACEMENT CAPACITY	989,936 30 7.15	13,850,837 2.3

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3

Nickel and copper: demand charged price outlook

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Source: Visual Capitalist

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Source: BHP

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4

Nickel and copper: demand charged price outlook

“Global nickel inventory down from a peak of 900Kt to 650Kt”

“A shift of just 10% of the global car fleet to EV’s creates demand for 400Kt of Nickel in a 2Mt market”

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Source: Glencore (Wood Mac, CRU)

Source: Glencore (Wood Mac, CRU)

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5

Nickel and copper: demand charged price outlook

“Over 200 copper mines currently in operations will reach the end of their productive life before 2035”

“BHP sees copper as the best way to benefit from growing demand for electric vehicles (EVs) and renewable energy.”

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26
Brownfield Contribution
Available from base case mines plus highly probable projects
24
Demand for mine production capability (refined metal)
4.5 Mt of
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new
production
20 capability
needed
18
16
14
201220132014201520162017201820192020202120222023202420252026
Source: Wood
Mt Cu
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Source: Wood Mac

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Source: Wood Mac
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6

Nickel and copper: geological terrains

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• Currently evaluating new data applying the “mineral systems approach” in geological terrains for “where” sulphide deposits form, not “how”

• Leveraging work complete on one of the worlds largest sulphide deposits, the 100% owned Admiral Bay deposit, for the “where” question in other terrains

• The Albany Fraser Belt and Paterson Province are ranked highly by the MCT team as the most prospective for discovery of nickel and copper sulphide deposits

• New world class discoveries are continuing to validate these terrains, ie. Silver Knight Deposit in the Fraser Range and RTX in the Paterson

• MCT has secured highly prospective largely 100% owned exploration licences in these terrains to build on its prospectivity models

• MCT is considering further acquisition and project generation in these terrains

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Source: Centre For Exploration Targeting (CET), University of Western Australia (UWA).

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Paterson province, WA

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• MCT is leveraging off its in house copper prospectivity study’s of the Pilbara

• Recently secured 2,166km[2] of tenements in the Paterson Province, Pilbara

• The Desert Queen project covers a total area of 679km[2] in the Paterson, 20km along strike from exploration conducted by Rio Tinto and within an interpreted copper corridor.

• The Mandora Beach project covers a total area of 1,487km[2] in the Paterson, adjoining tenements held by Rio Tinto and FMG and is also located within an interpreted copper corridor.

• The Desert Queen and Mandora Beach projects have not been the subject of modern systematic exploration.

• A program of data compilation has commenced to define target areas for future exploration work.

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Source: Metalicity

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8

Albany fraser belt, WA

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• MCT is leveraging off its in house nickel prospectivity study’s of the Fraser Range

• MCT has signed Option Agreements to acquire the Fraser Range project and Biranup project in the world class Albany Fraser belt.

• The Fraser Range is considered highly prospective for Magmatic nickel copper and the Biranup is considered highly prospective for Magmatic nickel copper and VMS copper

• Numerous targets remain untested with modern systematic exploration techniques within the company’s optioned project areas.

• The Fraser Range is dominated by metamorphosed mafic rocks but also includes metamorphosed granitic and sedimentary rocks termed the Fraser Range Domain.

• Much of the northern part of the Fraser Range Domain is obscured by younger rocks of the Eucla Basin, however it is interpreted that this domain is approximately 425km long, and up to 50km wide.

• Metalicity is evaluating the relevant data on the optioned projects and assessing further opportunities in the district.

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Source: Metalicity

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9

Sale of zinc assets

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• The Company has finalised the sale of its zinc assets with Kimberley Mining Limited (KML) and pursuing the IPO pathway on the TSX-V

• MCT anticipates receipt of ~A$35M cash/shares, with C$500K banked

• The proposed KML TSX-V IPO is on track for the March Q 2019

KML has, over the last 6 months,:

• Appointed 3 highly credentialled Toronto based mining executives who are leading the IPO

• Mandated a syndicate of 3 investment banks to lead the IPO

• Completed an oversubscribed C$2M seed capital raising

• Commenced negotiations over preferred lead orders

• The KML zinc portfolio collectively has the potential for low capital early cash flow with progression to one of the largest zinc producers in the world, based on existing JORC and NI-43101 compliant resources.

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Source: Metalicity

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10

Sale of lithium assets

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MCT is currently running a process to sell (via IPO, Trade Sale or JV) our lithium assets, results expected in the Dec. Quarter 2018 MCT has received significant in bound interest on our lithium assets from local and international battery metal companies

Field trips have been conducted where further evidence of LCTtype pegmatites and spodumene occurrences have been noted within the Wodgina South and Pilgangoora North projects New target areas are coincident with high K-radiometric data Process well supported by existing battery metal shareholders

Source: Metalicity

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11

Sector leading partners

China Minmetals is one of the world’s leading mining and metals companies.

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• The revenues of Minmetals are reported to amount to approximately twice that of the world’s largest publicly traded mining company, BHP.

• MCT has signed an MOU for future zinc off-take and project financing at Admiral Bay to be assigned to Kimberley Mining

• The MOU contemplates the full cooperation and financing of both companies for future exploration, development and mining work in Western Australia.

• MOU for supply of an initial 10% of future offtake from Admiral Bay in exchange for metallurgical test work established a pathway for investing in Admiral Bay financing and offtake.

• Discussions ongoing regarding MCT focus on Nickel and Copper

• Both company’s working towards definitive agreements.

• Alternate discussions with other base and battery metals companies and financiers

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Source: Metalicity, The resources bull at Minmetals Tower, Beijing, China.

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12

Summary and catalyst for 2019

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• Building a prospective nickel and copper portfolio of projects, WA.

• Strong leverage to the base metals & high growth battery metals sectors.

• Sector leading mining company shareholders/stakeholder

• High impact well funded geophysics and drilling work planned for 2019.

• Multiple short-term catalysts for 2019:

• Exploration drilling targets for nickel-copper in the Albany Fraser

• Exploration drilling targets for copper in the Paterson

• Further acquisitions/project generation in both geological terrains

• Sale of zinc assets and anticipated receipt of A$35M cash/shares

• Sale of lithium assets via either IPO, Trade Sale and / or JV

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Source: Metalicity, Exploring the Pilbara for Copper

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Undervalued in fundamental and absolute terms w/ a market cap of ~$15M

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13

Corporate snapshot

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Capital structure
Issued share capital (MCT) 605 mil
Options 125.0 mil
Share price (23 November 2018) A2.0c
Market capitalisation (diluted) ~A$15.0 mil
Cash (30 September 2018) ~A$1.6 mil
Debt (30 September 2018) A$0 mil
Average daily traded volume 0.70 mil
Major shareholders
Founders ~15%
Management and Associates ~12%
FMG ~4%
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Metalicity share price

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Analyst coverage

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14

Board capability

Board and Management

• Mining Engineer and Investment Banker

CHAIRMAN

• 40 years experience in the resource and investment banking industry

Andrew Daley

• Founding Director of PanAust, Oxiana and Investor Resources Limited (“IRL”)

• MBA and Mining Executive

MANAGING DIRECTOR

• 20 years experience in the resource industry

• Matthew Gauci

• Founding Director of Metalicity Limited

• Geologist and Mining Executive

NON-EXECUTIVE DIRECTOR Mathew Longworth

• 30 years experience in the resources industry

• Formerly Managing Director of Heron Resources Limited

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• CFO and Company Director

• NON-EXECUTIVE DIRECTOR • 20 years experience in the resource industry

• Justin Barton

• Formerly with EY and Rio Tinto

• Company Secretary and Director

• COMPANY SECRETARY • 25 years experience in the resources industry

• Neil Hackett

• Formerly company secretary with dual listed Sundance Resources Limited.

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15

Important Notices

About Metalicity Limited

Metalicity Limited is an Australian mining exploration company with a primary focus on the base metals sector and the exploration for Nickel-Copper in the Fraser Range and Copper in the Pilbara Region, both located in the world first jurisdiction of Western Australia. The Company is well supported by a corporate and technical management team with significant collective experience in the mining exploration sector as well as strategic, private equity, institutional and retail funds as shareholders.

Disclaimer and Forward Looking Statements

The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Kimberley Mining Limited and consult with their own financial advisers in connection with any acquisition of securities. The information contained in this presentation has been prepared in good faith by Kimberley Mining Limited. However, no representation or warranty, express or implied, is made as to the completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. To the maximum extent permitted by law, Kimberley Mining Limited, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of Kimberley Mining Limited, but these are not intended to be forecasts, forward looking statements, or statements about future matters. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause Kimberley Mining Limited’s actual results, performance or achievements to differ from those referred to in this presentation to occur as contemplated. The presentation contains only a synopsis of more detailed information to be published in relation to the matters described in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of losing all of the property invested by you or incurring by you of additional liability. Recipients of this presentation should conduct their own investigation described in this document. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters.

Competent / Qualified Person Statement – Admiral Bay and Napier Range Mineral Resource Estimates

Information in this report that relates to Mineral Resources and Exploration Target Range (ETR) has been reviewed by Mr Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy Mr. Glacken is a consultant to Metalicity Ltd, and has sufficient experience 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 by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. and as a Qualified Person for the purposes of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects Mr. Glacken consents to the inclusion of the data in the form and context in which it appears.

Competent Person Statement – Pilbara Copper and Albany Fraser Exploration Projects

See ASX:MCT 13/11/18 and 16/11/18

Competent / Qualified Person Statement – Pilbara Lithium Exploration Project

See ASX:MCT 3/7/18

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16

Metalicity Limited – poised for growth

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SUNRISE AT ADMIRAL BAY
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