AUREKA LIMITED — AGM Information 2014

Nov 20, 2014

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2014 Annual General Meeting Company Update

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Melbourne, 21 November 2014

ASX: NML

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Navarre Minerals Ltd
ASX:NML
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Forward-looking statement & disclaimer

The information contained in this presentation is provided by Navarre Minerals Limited (Navarre) and other sources identified herein. No representation or warranty, express or implied, is made by Navarre or any adviser or any of their respective affiliates or representatives as to the accuracy or completeness of such information. Nothing contained in this presentation is or shall be relied upon as, a promise or representation by any of Navarre or any such advisers, their respective affiliates or representatives.

The information contained in this presentation is for informational purposes only and is not a recommendation as to whether to invest in Navarre shares. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on Navarre management estimates.

This presentation does not include all available information on Navarre, and any potential investor should also refer to Navarre’s Annual Reports and ASX releases and take independent professional advice before considering investing in Navarre. For more information about Navarre Minerals Limited, visit the website at www.navarre.com.au.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Navarre or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Past performance is no guarantee of future performance.

This presentation may contain “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information.

COMPETENT PERSON STATEMENT

The information in this presentation that relates to Exploration Results, Mineral Resources and Exploration Potential is based on information compiled by Mr Wessley Edgar. Mr Edgar is an employee of Navarre Minerals Limited, is a member of the Australasian Institute of Mining and Metallurgy and is a Competent Person under the definition of the 2012 JORC Code. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource. Mr Edgar consents to the publication of this information in the form and content in which it appears.

The information in this presentation that relates to Exploration Targets refers to targets that are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

The information on Stawell-style gold Exploration Targets in this presentation are based on a conceptual range of targets as follows: Tonnage range: 6 -10 million tonnes Grade range: 4 g/t Au to 6 g/t Au Metal: 0.8 to 1.9 million ounces of gold

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Navarre Minerals Ltd
ASX:NML
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Corporate overview

 ASX CODE: NML

Major Shareholders

 Cash A$0.9M[# ]

 72.6m Ordinary Shares on Issue

• Market Capitalisation: Approx. A$2.9m*

Crocodile Gold Corp 14% Board & management 21% John Darroch & family 4% Lujeta Pty Ltd 3% Top 20 57%

• cash balance at September 2014

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*based on $0.04 share price

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Navarre Minerals Ltd
ASX:NML
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Company objectives

We are a Victorian-based resources company unlocking the gold & copper potential of western Victoria’s emerging and proven mineral corridors

Our Objective is to create shareholder value by:

1. Discovery of a large low-cost copper deposits in the emerging Western Victorian Cu belt

2. Discovery of long-life gold deposits in the proven Stawell gold corridor 3. Examining transformational opportunities

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Tatyoon Gold Project
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Navarre Minerals Ltd
ASX:NML
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Significant milestones 2013/14

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Eclipse RC drilling
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• Exploration

• Broad intervals of copper & gold intersected in two drill programs highlight potential for large deposits at depth at Eclipse

• Porphyry copper and VMS potential identified at Lexington and Glenlyle prospects

• New Stawell-style gold potential identified with drill targets defined at Tatyoon Gold Project

• Deals

• Farm-out of Tandarra to Catalyst Metals Ltd granting a right to earn a 51% interest by spending $3M over 4 years

 Capital

• Successful Share Purchase Plan and placement completed raising $844K

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Navarre Minerals Ltd
ASX:NML
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Emergence of two key projects

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Two adjacent mineral belts close to existing mine infrastructure

 Western Victoria Copper Project (Miga Arc)

 Eclipse prospect

 Volcanic Massive Sulphide (VMS)

 Porphyry copper - gold

 Stawell Corridor Gold Project

 Tatyoon’s Grange prospect

 Stawell’s Magdala-style gold look-a-like

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Western Victoria Copper Project

• Total area 964km²

• 100%-owned

• 130kms of volcanics with no deep drill holes

• Four porphyry / VMS prospects:  Eclipse

• Lexington

• Pollockdale

• Glenlyle

• IP geophysics survey & two RC drill programs completed at Eclipse

• Gravity survey, geological mapping & soils completed at Lexington for target definition

• Data review & target generation at Glenlyle

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Eclipse Prospect

Long Section

• Geophysics locates 3 large targets: 2 undrilled; no deep drilling

• Shallow drilling at Target 1:

• Discovery of enriched copper (chalcocite) starting 30m below surface

• Discovery of broad gold & copper zones up to 5.6g/t gold & 2.8% copper

• Gold & copper is part of a deeper & larger system

• Target 1 & 2 - potential VMS-style mineralisation

• Target 3 – potential porphyry-copper

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Navarre Minerals Ltd
ASX:NML
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Eclipse Prospect

IP survey indicates copper & gold, intersected in shallow drilling, is part of a deeper mineral system

• Chalcocite (enriched copper) formed from weathering of deeper body of pyritic coppergold-zinc mineralisation

• Broad zones of primary copper, gold, silver & zinc in drill holes beneath chalcocite:

• 136m at 0.3 g/t gold, 107m at 0.2% copper & 95m at

  • 0.1% copper intercepted*

• Drilling is vectoring towards deeper target zone outlined by geophysics

• Register for Vic Gov’t TARGET Initiative to cofund deeper drilling

   - See NML ASX release 29 October 2014
  

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Navarre Minerals Ltd
ASX:NML
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Western Victoria Copper Project

 VMS copper potential at depth at Eclipse Target 1

• Eclipse Targets 2 & 3 remain to be drill tested – VMS & porphyry- copper potential

• Porphyry- copper targets are emerging at Stavely and Black Range licences

• New Glenlyle Project acquired with VMS & porphyry- copper potential

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Auger soil sampling at Lexington
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Stawell Corridor Gold Project

 90% of ‘Corridor’ under cover - only surfaces at Stawell & Ararat (both sides of The Great Divide)

 6 Moz gold production - mainly from Stawell

• Stawell’s Magdala-type gold on flanks of large basalt domes

• Gold is finer grained, more continuous & more predictable than Bendigo and Ballarat style deposits

• 100%-owned Tatyoon exploration licence recently granted on 9 September 2014 for 5 years

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Leviathan Resources ASX release, October 2005
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Tatyoon gold discovery

 Discovered in 2004

• Gravity surveys followed by scout air-core drilling

• AAC021 – 20m at 0.5 g/t gold from 35m , inc. 5m at 1.4 g/t gold

• AAC021 – 2m at 2.6 g/t gold from 66m

20m @ 0.5 g Au/t * 2m @ 2.6 g Au/t 1.8m @ 4.2 g Au/t

* grade verified by Navarre from original assay files, length weighted gold grade 14** of 4.21 g/t gold is the average of 3 repeat fire assay / AAS analyses.

• 3 diamond holes confirm Magdala-style basalt & intercept gold

• TTD001 – 1.8m at 4.2 g/t gold from 91.4m

(inc. max grade of 0.8m at 8.3 g/t gold from 92.4m)

 No drilling since 2005

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IP Lines on gravity image
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 Navarre reprocessing of previous gravity and IP geophysics uncovers multiple undrilled targets on 5 surfaces

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Tatyoon gravity modelling

• Gravity modelling highlights 3 shallow basalt dome structures approx. 30-40m below surface

• Similar dimensions to Stawell’s Magdala Gold Mine

• Shallow open pit & underground potential

• Open farmland

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Navarre Minerals Ltd
ASX:NML
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Grange Basalt Dome Exploration Targets

West Flank Exploration Target

• > 1.5km long target

• assume 3m - 5m thick target

• assume 50% vol. payable ~ 6-10 Mt

• assume 4-6 g/t gold ~ 0.8 -1.9Moz

Gold in Drill Holes AAC0021:

• 2 m @ 2.6 g/t Au

• 20 m @ 0.5 g/t Au

TTD001:

• 1.8 m @ 4.2 g/t gold

IP chargeability anomalies align on west flank of Grange dome

• 80% of gold in Magdala Mine is on west flank

• no previous drilling

Other Magdala-style Targets (yellow)

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Navarre Minerals Ltd
ASX:NML
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Basalt – size matters

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West flank
= 80% gold
production
Target 4
west
flank Target 2 Target 3
target
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Comparison, at the same scale, of Magdala Gold Mine and Grange prospect (with IP chargeability targets in red)

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Navarre Minerals Ltd
ASX:NML
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Stawell Gold Corridor – Tatyoon Potential

Tatyoon’s Grange prospect – a compelling exploration target

• Rapid advancement of new gold project with shallow ‘drill ready’ gold targets

• Identification of oxide (35m to 80m) and deeper sulphide targets (80 to +200m) of Stawell mineralisation style

• Compelling +1.5km long west flank target is un-drilled and strongly supported by 4 geophysics sections

• West Flank Exploration Target of 0.8 – 1.9 million ounces of gold

• Major shareholder, Crocodile Gold owns and operates the Stawell Mine gold processing facility only 50km away by truck

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Navarre Minerals Ltd
ASX:NML
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2015 Proposed Exploration Program

Stawell Corridor Gold Project:

 2,500m RC / diamond drill program – Grange & Hermitage

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Eclipse RC drilling
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• Infill gravity survey at Shiraz

• IP geophysics at Shiraz & Hermitage if warranted by drill results

Western Victoria Copper Project:

• Plan deeper drill program at Eclipse

• Complete & process gravity survey at Lexington

• Complete review of Glenlyle geophysics & plan drill program

• Register for Vic Gov’t TARGET co-funding drill initiative

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Navarre Minerals Ltd
ASX:NML
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Summary

• Miga Arc, an emerging Cu-Au porphyry / VMS province with large deposit potential

• Miga Arc similar to Macquarie Arc’s Cadia Valley & North Parkes region at early-stage exploration

• Planning deeper drilling at Eclipse with potential support from Vic Gov’t TARGET cofunding

• Drilling planned for Tatyoon in H1 2015, compelling Magdala-style targets

• 2013 R&D application in progress, 2012 R&D application under review

• Investigate transformational opportunities

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Navarre Minerals Ltd
ASX:NML
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Navarre Minerals Limited

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