AUREKA LIMITED — AGM Information 2015

Nov 12, 2015

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2015 Annual General Meeting Company Update Melbourne, 13 November 2015 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 Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Geoffrey McDermott, who is a Member of the Australian Institute of Geoscientists and who is Managing Director of Navarre Minerals Limited. Mr McDermott 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 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr McDermott consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

The information in this presentation that relates to targets 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 or Ore Reserve.

The information on Stawell-style gold targets in this presentation are based on a conceptual range of targets as follows: Tonnage range: 6 - 10 million tonnes

Grade range: 2g/t Au to 6g/t Au Metal range: 0.4 to 2.0 million ounces of gold

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Navarre Minerals Ltd
ASX:NML
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Navarre Minerals Limited

We are an ASX-listed, Stawell-based resources company unlocking the gold & copper potential of western Victoria’s emerging and proven mineral corridors…

 ASX CODE: NML

 Cash A$0.4M[# ]

 92.6m Ordinary Shares on Issue

 A$2.8m* Market Capitalisation

Major Shareholders:

^ Newmarket Gold Inc. 19.9% Board & Management 20.3% John Darroch & famil 4.4% y Top 20 61.0%

19.9% 20.3%

61.0%

^ owner & operator of Stawell Gold Mine

• based on $0.03 share price

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• 1,376 km² of tenements in 4 mineralised corridors

1

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Navarre Minerals Ltd
ASX:NML
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Objective & strategy

• Transform the Company by discovering Victoria’s next major gold or copper deposit from within the Company’s exploration assets

 Drill test the Irvine & Benno basalt dome targets with the view that one of these is capable of delivering a Stawell Gold Mine(“ SGM ”)-size >1Moz discovery within 2 years  Target gold mineralisation within 50kms of existing SGM infrastructure

 Investigate transformational opportunities

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Historic alluvial workings, Stawell Corridor Gold Project
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Navarre Minerals Ltd
ASX:NML
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Significant milestones 2014/15

 Exploration

• Drilling programs completed at Eclipse, Grange & Tandarra*

• Discovery of two new outcropping gold prospects, Irvine & Benno, 15km from operating gold plant owned by largest shareholder. High-grade Stawell-style gold potential identified.

• New gold zone identified in drilling at Tandarra*

 Deals

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

 Corporate

• Maintained active exploration program on premier exploration assets in spite of challenging market conditions

• Successful capital raising nets $0.6M mainly to fund Tatyoon drill program

• Launch of 2015 Share Purchase Plan for Irvine & Benno drilling - set to close on 16 November

• R&D claim review process continued through year

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RC Drilling at Tatyoon
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Historic Chinese alluvial
workings, Benno prospect
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Navarre Minerals Ltd
ASX:NML
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Stawell Corridor Gold Project

Two new Magdala-style basalt dome targets identified 15km south of Stawell Gold Mines

Similar geology & structure to Stawell’s Magdala gold deposit – all within short trucking distance of SGM

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Navarre Minerals Ltd
ASX:NML
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Stawell Corridor Gold Project

Longitudinal projection – all historic 6Moz gold production comes from only 40km of strike

Gold Corridor >500km long - all 6 Moz gold mined occurs from 40km “exposed“ section between Ararat & Stawell

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Navarre Minerals Ltd
ASX:NML
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Stawell Corridor: Historic gold production Approximately 6 million ounce historic gold production

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160,000 6.0
Estimated Stawell Goldfield Production by Year
140,000
5.0
Alluvial ounces 0.8 Moz
120,000
Reef ounces 4.4 Moz
4.0
100,000 Total ounces 5.2 Moz
80,000 3.0
60,000
2.0
40,000
1.0
20,000
0 0.0
1850 1870 1890 1910 1930 1950 1970 1990 2010
180,000 0.8
Estimated Ararat Goldfield Production by Year
160,000 0.7
140,000
0.6
120,000
0.5
100,000 Alluvial ounces 0.6 Moz
0.4
Reef ounces 0.01 Moz
80,000
Total ounces 0.6 Moz 0.3
60,000
0.2
40,000
20,000 0.1
0 0.0
6. 1850 1870 1890 1910 1930 1950 1970 1990 2010
(millions)
Gold ounces
Cumulative Gold ounces
(millions)
Gold ounces
Cumulative Gold ounces
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TARGET MODEL BASED ON STAWELL’S MAGDALA DEPOSIT

Stawell historic gold production indicates:

• Large alluvial gold rush followed by discovery of reef gold source

• Magdala Gold Mine is Victoria’s most prolific modern gold mine – still producing gold after 30 years

• Magdala deposit has an estimated 2,500 - 4,000 ounce gold endowment per vertical metre

• Every 250 metre depth slice contained 0.6 – 1.0 million ounces of gold

• SGM has spare mill capacity

Ararat historic gold production indicates:

• Large alluvial gold rush started by Chinese miners

• Reef gold source of alluvial gold is yet to be discovered

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Source: modified from 2001 GSV Report 115

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Navarre Minerals Ltd
ASX:NML
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Irvine & Benno prospects Compelling shallow gold prospects

Similar geology to Magdala gold deposit – 15km south of SGM

Mapping and rock chip sampling uncovers:

• 6 mineralised surfaces, each ranging between 0.3km & 2.2km long

• Rock chip assays up to 22.8 g/t gold (see NML ASX release dated 10 August 2015)

• Outcrop of basalt contact mineralisation, grades up to 8.3 g/t gold (see NML ASX release dated 12 June 2015)

• Same host rocks, mineralisation and controlling structures at Magdala –

• continue south to Irvine & Benno younger Stawell granite punctuates mineralised trend

• Single 1994 diamond hole into basalt contact reveals “classic Magdala footwall sequence with high pyrrhotite” 0.5m @ 7.2g/t Au from 86.5m*

• Interpretation of preliminary gravity survey data suggests Irvine and Benno basalts extend from surface to beyond 2.5km depth

• Source: 1994 unpublished CRA Exploration technical report

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Navarre Minerals Ltd
ASX:NML
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Irvine & Benno gold prospects Schematic Cross-Section – Basalt dome structures

Geometry and structure similar to Magdala Gold Deposit

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Stockworks
Basalt Contact 22 g/t Au
8 g/t Au 1 g/t Au
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• Three parallel basalt dome structures, two with

surface gold mineralisation

• Irvine most advanced followed by Benno with

confirmed gold, geology and structure

 Interpretation of preliminary gravity survey data suggests Irvine and Benno basalts extend from surface to beyond 2.5km depth

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Navarre Minerals Ltd
ASX:NML
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Program 2015 / 16

 Drill test Irvine & Benno basalt domes with a view that one of these is capable of delivering the next generation Magdala gold deposit replacement

PHASE 1: Irvine & Benno Prospects

1. Mapping, sampling, geochemistry

2. Gravity survey

UNDERWAY – Monash University, data collection 90% complete

1. IP geophysics survey trial

PLANNING UNDERWAY – survey completion in Q1 2016

1. Vic Gov’t co-funding grant application

Dec 2015 – NML invited to register for TARGET grant funding

1. Drill approvals process

Lodge in Q1 2016

1. Targeted angled drill program

TO FOLLOW DRILL APPROVALS - Surface <50m test

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Navarre Minerals Ltd
ASX:NML
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Irvine & Benno gold prospects: Summary

Seeking discovery of the next generation of multi-million ounce gold deposits within a 15km radius of a central processing facility (SGM) owned and operated by Navarre’s largest shareholder, Newmarket Gold Inc.

• Two Magdala-style basalt dome targets

• High-grade gold up to 22.8 grams per tonne at surface

• Under-explored - only one diamond hole into basalt contact - 0.5m @ 7.2g/t Au from 86.5m

• Irvine & Benno = source to Ararat Goldfield’s alluvial gold ?

• seeking funding through Vic Gov’t TARGET grant + Share Purchase Plan for drilling campaign

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Navarre Minerals Ltd
ASX:NML
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Navarre Minerals Limited

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Thank You
Contact Us:
Navarre Minerals Limited
Geoff McDermott
40-44 Wimmera Street
Stawell
VIC Australia 3380
Tel: 03 5358 8625
Website: www.navarre.com.au
Email: info@navarre.com.au
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Navarre Minerals Ltd
ASX:NML
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Grange gold prospect 2015 drill program results

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• Large undrilled 1.5 km long conceptual Stawell “Magdalastyle” basalt dome target concealed below recent cover

• Initial strong target support:

• Four consecutive IP chargeability anomalies align along modelled west flank of Grange basalt dome

• All three previous diamond drill holes into the centre of the Grange dome confirmed similar intensity IP anomalies to contain sulphide-bearing sediments with anomalous gold. Best result was 1.8m @ 4.2 g/t gold from 91.4m in TTD001 (see NML ASX release 19 March 2015)

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• NML drilling intersects extensive sulphide alteration of sufficient intensity to explain the chargeability response of the IP geophysics but results downgrade prospectivity of western flank target

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APPENDIX 1.

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Navarre Minerals Ltd
ASX:NML
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Tandarra Gold Project Catalyst Metals earning 51%

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Tandarra nuggety gold specimens
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Source: Catalyst Metals ASX 11 November 2015

New gold zone discovery in reconnaissance drilling

• New gold discovery in drilling 7 km north of Tomorrow line – 2m @ 33.1 g/t Au from 129m in ACT221

• Large untested areas of gold potential in shallow basement (< 60 metres depth)

• 10 – 20 km strike length of untested structure

• Mineralisation report being prepared to support licence renewal

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APPENDIX 2.

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Navarre Minerals Ltd
ASX:NML
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Western Victoria Copper Project

Eclipse work program results 2014/15

Our work 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

• Potential volcanic massive sulphide system requiring further follow-up

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• See NML ASX release 29 October 2014

APPENDIX 3.