AUREKA LIMITED — AGM Information 2018

Apr 9, 2018

Navarre Minerals EGM Presentation An Emerging Victorian Gold Company

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10 April 2018

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ASX: NML

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Navarre Minerals Ltd
ASX:NML
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Forward-looking Statement & Disclaimer

This presentation has been prepared by Navarre Minerals Limited ( Navarre or the Company ). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation.

This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information 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.

Information contained in this presentation is confidential and the property of Navarre. This presentation must not be disclosed, copied, published, reproduced or distributed in whole or in part at any time without the prior written consent of Navarre and by accepting the delivery of this presentation, the recipient agrees not to do so and to return any written copy of this presentation to Navarre at its request.

COMPETENT PERSON STATEMENT

The information in this presentation that relates to exploration results is based on information compiled by Geoff 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.

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Navarre Minerals Ltd
ASX:NML
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Capital Structure

Corporate

52 week trading range 0.03 – 0.15

 ASX Code: NML

• Fully paid shares on issue 294.6M*

NML:ASX

• Share price range (12 months) 3c – 15c

• Market Cap (@ 9.0c/share) $26M

• Debt $Nil

• Cash on hand (31/12/17) $2.6M

• Following exercise of 32.2M unlisted $0.05 options (99%)

• before expiry on 31/3/18, raising $1.7M (before costs)

• Top 20 Shareholders (as at 31 March 2018)

  • Board & Management 14%

  • • Kirkland Lake Gold Ltd.^ 9%
  • • VBS Exchange Pty Ltd 6%

  • Top 20 50%

• ^ Owner and operator of Fosterville Gold Mine

NML Directors – former Stawell Gold Mines executive team

Kevin Wilson Non-Executive Chairman – geologist & investment banker

Geoff McDermott Managing Director – geologist

John Dorward Non-Executive Director – mining, finance & corporate

Colin Naylor Non-Executive Director – accountant

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Navarre Minerals Ltd
ASX:NML
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Navarre Minerals Limited

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• Key player in Victorian gold renaissance

• Two flagship gold discoveries – Irvine & Tandarra

• Outstanding project pipeline

• 25,000m program of AC, RC & DDH across 5 project areas (H1, 2018)

• Kirkland Lake Gold largest shareholder at 9%

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Navarre Minerals Ltd
ASX:NML
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Navarre Minerals Limited

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GOAL

Demonstrate visibility of a multi-million ounce gold inventory by December 2018 and to crystallise value by transitioning to a development company

ACTIONS:

Target gold mineralisation next to multi-million ounce gold mines…

• Drill Irvine for next Stawell

• Drill high-grade Tandarra through farm-out partnership

• Drill St Arnaud for high-grade Fosterville-style gold

• Create value from copper assets through farm-out

• opportunities

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Navarre Minerals Ltd
ASX:NML
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Irvine Gold Project Potential for large gold deposit, 15kms from Stawell Gold Mine

Targeting a multi-million ounce gold deposit similar to 4Moz Magdala gold deposit

• 40kms prospective rocks yielded 6 Mozs of gold from:

• 30 years underground mining at Stawell Gold Mine

• Historic alluvial and reef mining at Stawell

• Ararat was alluvial field - primary gold source now sought

• Primary gold occurs close to large basalt domes (yellow)

• +8km Irvine basalt dome found under Ararat GF, primary gold now discovered

• Q1 2017 discovery of Resolution Lode (Ararat)

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• Q4 2017 discovery of Adventure Lode (Ararat)

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Navarre Minerals Ltd
ASX:NML
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Stawell: the Exploration Model for Irvine

Multiple lodes on a basalt dome

2.5 km strike 800m Surface Footprint

• Underground gold mine (new owner with plans to re-open )

• +4Moz gold mined

• Mined grade: 4 – 6 g/t Au

• Gold occurs in multiple “lodes” along the flanks of a basalt dome

• Each lode averages approx. 100koz of gold

• 2,500 ounce gold endowment per vertical metre

• 0.5 million ounces of gold for every 200 metre depth slice

• How you discover +1Moz? … Find surface lode channel (surface footprint) and chase it deeper

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Navarre Minerals Ltd
ASX:NML
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Irvine Gold Project

• 8,000m drilling program underway at Resolution, Adventure & Dutton

• Resolution Lode : best drill results beneath 1.6km surface footprint :*

6.0m @ 6.3 g/t Au (IAC018) – ‘ Discovery hole’ 18.7m @ 7.1 g/t Au (RD006)

4.0m @ 9.8 g/t Au (RD002) 2.9m @ 12.9 g/t Au (RD001) 2.0m @ 41.5 g/t Au (IAC018)

• Adventure Lode : early days! Best oxide results from 1km footprint :*

• 6.0m @ 5.1 g/t Au (IAC245) – ‘ Discovery hole’

• 5.0m @ 3.2 g/t Au (IA173)

• 7.0m @ 2.8 g/t Au (IAC201)

• New gold-bearing quartz reef discovered at Dutton

• $626K co-funding grant through Vic Govt’s TARGET Minerals Exploration Initiative

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* See NML ASX releases 2016,2017,2018

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Navarre Minerals Ltd
ASX:NML
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Irvine Lode Structures

Lode channel discoveries provides pathway to potential +1Mozs

Resolution Lode: 1.6km surface lode channel

Adventure Lode: 1.0km surface lode channel

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Navarre Minerals Ltd
ASX:NML
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Resolution Lode

Longitudinal projection – room to grow

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See NML ASX release 9 April 2018

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Navarre Minerals Ltd
ASX:NML
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Project Pipeline

• ST ARNAUD GOLD PROJECT – Fosterville analogue

• 4 targets under shallow cover

• 3,000m reconnaissance AC drill program underway

• GLENLYLE PROJECT – Porphyry Cu-Au + epithermal Ag-Au

• Potential Thursdays Gossan analogue on same volcanic belt

• 2,100m reconnaissance AC drilling completed March 2018

• Results pending

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Navarre Minerals Ltd
ASX:NML
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St Arnaud Gold Project Potential Fosterville-style gold under cover

• Potential high-grade “Fosterville – style” gold opportunity

• 4 targets under shallow cover (~5 – 20m)

• 80kms by road from Stawell Gold Mine

• Proven goldfield (0.4 Moz)

• Geophysics show gold structures continue under cover – never drilled

• Extensive gold potential along 20km strike under shallow cover

• 3,000m first-pass AC drill program commenced

• Potential buried alluvial gold footprint to vector primary gold source

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Navarre Minerals Ltd
ASX:NML
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Glenlyle Project

 Potential porphyry copper-gold & epithermal silver-gold system

• Same volcanic package that hosts Thursdays Gossan copper deposit

• 5km diameter circular magnetic feature

• 2,100m reconnaissance AC drilling completed in March 2018

• Assay results pending

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Glenlyle
5 km
Thursdays Gossan
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Navarre Minerals Ltd
ASX:NML
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Tandarra Gold Project

Finding the next Bendigo

• Bendigo, Australia’s 2[nd] largest goldfield (22Moz)

• Tandarra gold discovery 40km north of Bendigo Goldfield under shallow cover

• Tandarra is 60km from Kirkland Lake’s Fosterville Gold Mine

• High grade gold at less than 20m depth

• Open pit potential at Tomorrow prospect

• Large areas of potential gold below shallow cover (<60m)

• Operator, Catalyst Metals to spend $3M to earn 51% interest in Tandarra by September 2018

• High-grade drill hits[] 11m @ 17.8 g/t Au; 17m @ 6.6 g/t Au; 21m @ 6.9 g/t Au*

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After Catalyst Metals Ltd
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* Catalyst Metals Ltd ASX release 26 July 2017

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Navarre Minerals Ltd
ASX:NML
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Tandarra Gold Project Tomorrow zone - High grade gold at less than 20m from surface

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Diagrams courtesy of CYL’s ASX release, 26 July 2017

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Navarre Minerals Ltd
ASX:NML
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Indicative Activity Timeline & News flow

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Navarre Minerals Ltd
ASX:NML
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Navarre’s Victorian gold discoveries

Irvine Gold Project (100%)

• Stawell-style gold, recent discovery, grades up to 41.5 g/t gold*

• 8,000m AC, RC and DD drilling program

• Targeting a multi-million ounce gold deposit similar to nearby 4Moz Magdala Gold Mine

Tandarra (farming out to 49%, fully funded by operator, Catalyst Metals)

• Bendigo-style high grade gold discovery, grades up to 98.4 g/t gold[#]

• $3M spend by September 2018 to complete farm-out

• 13,000m drilling program – DD, RC and AC

Project Pipeline (100%)

• 6,000m AC reconnaissance program (60% complete)

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* See NML ASX release 1 Dec 2016[#] See CYL ASX release 26 July 2017