AUSTIN METALS LIMITED — AGM Information 2016

Nov 14, 2016

ABN 68 130 933 309

Silver City Minerals

Annual General Meeting 15 November 2016

1

Important Disclaimer

This presentation is provided to you for the sole purpose of providing background technical, financial and other information to enable you to review the business activities of Silver City Minerals Limited (“Silver City”. “SCI” or the “Company”). This presentation contains forward looking statements concerning Silver City Minerals Limited. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Silver City’s beliefs, opinions and estimates of Silver City Minerals as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future development. Nothing in this material should be construed as the solicitation of an offer to buy or sell SCI securities.

Competent Person

Information in this document that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Christopher Torrey, who is the Managing Director and full-time employee and shareholder of Silver City Minerals Limited, and a Member of the Australian Institute of Geoscientists. Mr Torrey 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 Torrey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Silver City Minerals: A Snapshot

BROKEN HILL (Zinc-Lead-Silver and Lithium)

Project

Project Work Program Razorback West Drilling has commenced (1000 m diamond), Government Grant $114,800 Stephens Trig Drilling (7 holes completed), Balaclava Drilling (2 holes complete), EM survey completed

Pegmatites First pass for Lithium completed. Strong base metal anomalies from e matite sam les p g p

COBAR (Copper-Gold-Zinc-Lead))

Project Work Program Wilga Downs Geophysics completed, Drilling about to commence (400m)

3

Comparison

	2014-2015	2015-2016
Shares(million)	116	158
$in bank at AGM	$1.6 million	$1.9 million
Share Price at AGM	2.4 cents	2.8 cents
Market Cap	$2.8 million	$4.4 million
Area of Tenure(km2)	1200	1200
Admin Expenditure	$639,000	$525,000
Exploration Expenditure	$1.28 million	$988,000
Locations	Broken Hill, Taupo	Broken Hill, Cobar

4

==> picture [221 x 121] intentionally omitted <==

Zinc @ Broken Hill

5

==> picture [337 x 253] intentionally omitted <==

Where does one look for + 1 Billion ounces Silver

….. elephants

6

Global Zinc demand supply forecast

==> picture [479 x 316] intentionally omitted <==

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

(Mt)
Mt of Zinc
25
4%
20
The
15 ‘Zinc Gap’
10
5
World Zinc Demand (Mt) World Zinc Supply (Mt)
0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Source: HDR | Salva
----- End of picture text -----

Increasing demand-supply gap forecast for Zinc

• Demand increasing

• Mines closing

• Limited new mine capacity to fill the gap

Silver City Minerals Broken Hill

==> picture [426 x 421] intentionally omitted <==

• Strong tenure position

 Belt of prospective rocks and major mineralised structures throughout the tenure  Partnerships with CBH Resources and Impact Minerals

8

==> picture [361 x 497] intentionally omitted <==

Important Projects

Evaluation work this year focussed attention on three main areas

• Razorback West

• Stephens Trig

• Balaclava

9

SILVER CITY MINERALS BROKEN HILL

==> picture [590 x 406] intentionally omitted <==

==> picture [336 x 489] intentionally omitted <==

Razorback West

• Fault offset, northern extension of the Broken Hill mine corridor

• Same geology as Broken Hill under veneer of alluvial cover

• Large untested geochemical and geophysical anomalies

11

==> picture [346 x 503] intentionally omitted <==

Razorback West Drilling

• Drilling underway

• Holes “A” and “B” test combined geochemical and geophysical anomalies

• Holes “C” tests favourable part of Broken Hill rock sequence “the Hores Gneiss”

Razorback West Drilling

==> picture [407 x 450] intentionally omitted <==

• Existing holes host elevated zinc, lead and manganese

• EM conductor lies beneath zones of geochemically anomalous rock

• EM interpreted to be 120 metres below surface

Razorback West

==> picture [370 x 411] intentionally omitted <==

Conceptual cross-section through Razorback West shows

• A surface zinc anomaly in shallow RAB drilling

• Anomalous zinc in shallow reverse circulation drill holes

• The location of an

• electromagnetic conductor in relation to the zinc anomalism

• A conceptual, zinc-rich massive sulphide body at 120 – 150 metres below the surface; the geophysics suggests this depth

• SCI drill holes intersected the anomalous envelope, but not deep enough to test EM anomaly

• Deeper drilling required

==> picture [145 x 163] intentionally omitted <==

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

IP Survey
----- End of picture text -----

==> picture [320 x 241] intentionally omitted <==

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

IP Anomaly
EM Survey
Razorback West:
Falcon Gravity
Gradiometry Image
----- End of picture text -----

Razorback West Northern Extension

Proposed Work Program

• Target massive sulphides under cover

• Further RAB geochemistry

• IP survey to NE

• Gravity survey

==> picture [29 x 41] intentionally omitted <==

==> picture [29 x 42] intentionally omitted <==

==> picture [202 x 135] intentionally omitted <==

Copper-Gold @ Cobar

16

==> picture [330 x 481] intentionally omitted <==

Wilga Downs

• Cobar Mining District

• Numerous, long-lived mines

• Copper, Lead, Zinc, Silver and Gold

• Coincident geophysical anomalies (magnetics, gravity, induced polarisation, electromagnetics)

• Proximity to a regionally important geological contact/fault

==> picture [720 x 483] intentionally omitted <==

SILVER CITY MINERALS LIMITED

==> picture [719 x 480] intentionally omitted <==

SILVER CITY MINERALS LIMITED

==> picture [718 x 481] intentionally omitted <==

SILVER CITY MINERALS LIMITED

==> picture [720 x 452] intentionally omitted <==

Hoping Wilga Downs is a Tritton analogue

==> picture [221 x 119] intentionally omitted <==

Lithium @ Broken Hill

22

Global Lithium demand

==> picture [639 x 336] intentionally omitted <==

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

300,000
Rechargeable batteries Metallurgical Ceramics and Glass Other
250,000
11%py
200,000
150,000
10%py
100,000
50,000
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Source: Fox Davis Capital
----- End of picture text -----

23

==> picture [324 x 470] intentionally omitted <==

Lithium

• 1200 square kilometres tenure

• 100 square kilometres of outcropping pegmatite

• Euriowie & Kantappa tin fields host lithium minerals

• Prior to Silver City work no lithium exploration undertaken

24

==> picture [315 x 457] intentionally omitted <==

Pegmatite Sam les p

• Lithium and associated indicator elements (Rb, Cs, Sn, Ta, Be, Ga, Tl, P) elevated and anomalous within Waukeroo tin field

• Located in low grade metamorphic rocks

25

==> picture [313 x 455] intentionally omitted <==

Pegmatite Samples

• Lead-Silver-Zinc associated with old mines and Hores Gneiss

• Located in high to very high grade metamorphic rocks

• New Lead-Silver-Zinc anomalies recognised and as yet unexplained

• Potential for new discoveries

26

Conclusions

Broken Hill

• Large focused land tenure position

• Potential for high grade giant base metal and silver-rich orebodies

• Focus on Razorback , Stephens Trig and Balaclava

• New base metal-silver anomalies from pegmatites

• Lithium still an unknown; geological setting defined

• Cobar

• Producing mining district

• Wilga Downs; excellent geological setting, untested geophysical anomalies : Copper-Gold target.

Near Future News Flow

Broken Hill

• Drilling Razorback West (1000m; Government funding assistance)

• Results of EM survey at Balaclava

• Follow-up results of pegmatite samples (base metals and lithium). New zones identified.

Cobar

• Drilling Wilga Downs

ABN 68 130 933 309

Level 1, 80 Chandos Street St Leonards NSW 2065 Australia +61 2 94371737

www.silvercityminerals.com.au