BREAKTHROUGH MINERALS LIMITED — Capital/Financing Update 2020

Dec 28, 2020

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ASX Release

29 December 2020

MOZAMBIQUE GOLD PROJECT – FUNDRAISING UPDATE

Intra Energy Corporation Limited ("IEC" or "the Company") is pleased to announce that Intrafrican Resources Limited (“Intrafrican”), its fully owned subsidiary registered in Mauritius, has begun fundraising to raise capital by private placement (“Placement”) to continue the exploration program in the Minas Do Lurio Gold Project in Mozambique, predominantly with a drilling campaign. Intrafrican’s interest in the Minas Do Lurio Gold Project is held via Intra Minerals Limited (“IML“), a company also registered in Mauritius.

The Placement will involve the issue of new shares in Intrafrican such that Intrafrican will no longer be a wholly owned subsidiary of IEC. However IEC will retain a controlling interest in Intrafrican and Intrafrican will increase its ownership interest in IML. As a result, it is expected that the Company’s indirect interest in IML will increase following the Placement.

Intrafrican’s Project Summary and Presentation documents to be shown to potential investors as part of the fundraising are attached.

The documents are now on IEC’s website.

Shareholder Enquiries Jim Shedd Managing Director Intra Energy Corporation Limited www.intraenergycorp.com.au Registered Office: Level 40, 2 Park Street, Sydney NSW 2000 Postal Address: PO Box 1930, North Sydney NSW 2059

1

202925_4371081_2

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for new gold discovery

Intrafrican is pursuing investment of US$2.5M to progress the exploration of the Minas do Lurio (“MDL”) Gold Project in Mozambique to a geological resource report and early dredging production.

MDL Project Overview

• 168.56 km2 prospecting license (8416L) in the historically underexplored Lúrio Belt

• Initial trenching and sampling program has been completed at Savanne area in the PL. ��������������������������������������������������� ������������������������������������������ associated alluvials in the Lurio River.

MDL Project Plan

• US$1.3 m - to buy 650 B Class shares in IML to take ������������������������������������������������� ������������������������������������������������� ����������������������������������������������������� site to progress the project to a geological resource planned for Q1 2022

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IRL CORPORATE STRUCTURE

• US$0.875m – to buy an additional 350 Class B ��������������������������������������������������� ���������������������������������������������� project to early production and gold sales ���������������������������������������������������

Work done to date

���������������������������������������������������� US$1.4 Million in MDL to progress the Gold Project to ��������������������������������������������������� ������������������������������������������������������ gold mineralisation trend along the Neoproterozoic Lúrio Belt. Savanne Main has been trenched ���������������������������������������������������

IML CORPORATE STRUCTURE

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Mozambique Gold First mover opportunity for new gold discovery

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Forward Looking Statements and Disclaimer Important information

Disclaimer

This presentation has been prepared by Intrafrican Resources Limited (“Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation or any information provided in connection with it as financial product advice or advice relating to legal, taxation or investment matters. No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation nor as to the attainability of any estimates, forecasts or projections set out in this presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so). Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction) or similar provision under any applicable law of the Republic of Mauritius and other relevant jurisdictions. Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company.

Future Matters

This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

US Disclaimer

This document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any “US Person” as defined in securities Regulation S under the US Securities Act of 1993 (“Securities Act”). The Company’s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption for qualified institutional buyers.

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Summary High Conviction, De-Risked Gold Investment Opportunity in Mozambique

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Significant first mover opportunity in Mozambique into a previously unrecognised gold mineralisation trend along the Neoproterozoic Lúrio Belt

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Prospecting and exploration activities have confirmed the presence of significant gold occurrences in at least 6 alluvial and hard rock target areas, with additional targets defined by airborne geophysics and artisanal activity

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Shallowly dipping quartz-gold veins represent a possible low cost, low stripping ratio, open pit mining target in addition to prospective early stage alluvial operations

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Existing mobile mineral processing plant and equipment support the sampling, crushing and screening of gold bearing materials for early exploration results

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Solid project fundamentals, including geology, grades, infrastructure and committed management team support a consequent progression of the project through the mining development curve

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Strategy

Big Picture Five-Pronged Strategy with Mauritius at its core

Development and Production of Gold “dore” from Minas do Lurio, #1 Mozambique, and other mining projects conforming to ESG requirements and low production costs

#2

Set up Refining plant in Mauritius to process gold “dore” from Minas do Lurio and other ESG compliant and licensed producers into refined gold

#3

Use existing and expanded storage facilities for legitimately sourced gold bullion in Mauritius

#4

Complete feasibility study for development of a Mint in Mauritius to buy and mint refined gold into tradeable ingots and currency

#5

International trading in certified traceable gold, storage and potential backing of Mauritius cryptocurrency

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Organisation Chart

Intrafrican Resources Limited at the centre of Intra Energy Corporation Limited gold development focus

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The Capital Raising Offer

Intrafrican Resources Limited to invest in gold development via subscription of shares in Intra Minerals Ltd

Tranche 1 - US$2.5m

Tranche 2 - US$3.5m Tranche 3 - US$TBA

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US$1.3m to buy 650 B Class shares in IML with $875K in reserve for 350 remaining shares to take IRL ownership in IML to 1,150 out of 2,000 A and B class shares. Balance working capital and costs. IML to use funds for aero-magnetic survey work, diamond and RC drilling, sampling, survey of dredging locations and geological resource report to bring the Licence to Production Stage. Balance to purchase dredging plant to begin production, working capital and costs.

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Funding required for commencement of commercial production with dredging equipment to a maximum 8m and further development of drilling for open pit operations with a 60tph processing plant. Acquisitions and ventures over other additional gold concessions in Southeast Africa

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Bankable Feasibility Study for

development of Refinery, Safe Storage and Mint in Mauritius with certification from London Bullion Market Association (LBMA). Mauritius as a legitimate gold processing and trading centre in cooperation with Intrafrican Resources Limited

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Mozambique Concession Location Licencing guided by high yielding artisanal gold workings

The licence is strategically located along the Lúrio River (Nampula Province) and is situated only 120 km north from the international port of Nacala, and 62 km south of the regional hub Pemba. Access is straightforward by new tarmac roads (150 km) and dirt/ gravel roads (60 km).

…xxx

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Mozambique is a mining-friendly country with significant FDI. Mineral Resources are governed by the 2014 Mining Law and an online mineral licensing cadastre system. Prospecting licenses are valid for 5 years and can be extended for a further 5 years or converted to a 25 years Exploration and Production Licence.

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Regional Geology Stratigraphic Units Geological map of Nampula Block showing the Distribution of Lithodemic Units

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Minas Do Lurio
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The Minas do Lúrio license is stratigraphically located in the Neoproterozoic Ocúa complex, which is part of the Lúrio Belticua Complex, a structurally complex thrust and nappe belt with the prospect clearly having significant gold mineralisation deserving a well-targeted drilling program

Source: P.H. Macey et al 2010. Mesoproterozoic geology of the Nampula Block, northern Mozambique: Tracing fragments of Mesoproterozoic crust in the heart of Gondwana. Elsevier Precambrian Research

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Unique Evolving Arc with Subducting Plate Hypothesis Exciting Highly Prospective De-Risked Gold Exploration Opportunity in Mozambique

Why is this area economically interesting and prospective? Comparable to other structurally-controlled, orogenic lode gold deposits, the occurrence of gold is thought to be related to complex Neoproterozoic structural deformation phases and metamorphism. Regional shear and thrust faults and high grade metamorphic rocks were identified to be the predominant mineralisation hosts

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Schematic showing the evolution of the Nampula Block

• (a) ca. 1130 Ma: Early juvenile arc initiated by subduction showing generation of extrusive and intrusive phases of the Mocuba Suite

• (b) ca. 1100 Ma: Mature arc, possibly adjacent to a block of Palaeoproterozoic crust, in late stages of its development

• (c) ca. 1095 to 1090 Ma: Mature arc is uplifted and accreted to Palaeoproterozoic continent with intrusion of Rapale Gneiss into the arc roots. D 1 deformation and main phase of the Mesoproterozoic orogenesis, with high-grade metamorphism, migmatisation. Clastic detritus from both arc and continent are shed into basin (back-arc?) repository of the Molócuè Group (sedimentary and volcanic rocks)

• (d) ca. 1075 Ma: Post-accretion uplift in extensional tectonic regime, emplacement of large bodies of Culicui Suite, A-type granitoid orthogneisses.

Source: P.H. Macey et al 2010. Mesoproterozoic geology of the Nampula Block, northern Mozambique: Tracing fragments of Mesoproterozoic crust in the heart of Gondwana. Elsevier Precambrian Research

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The Prospecting Concession and Licence Streams and River Banks Showing Significant Alluvial Finds

The Minas Do Lurio mineral exploration license covers approx. 170 km2 (25 km x 7 km translating into c.17,000 hectares) of land along 35km of the Lúrio River. Prospecting and exploration work to date have discovered both bedrock and alluvial gold sources in rock quartz veins in various different locations. The most prominent occurrences are Savanne Main, Savanne Middle and Chapala

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Yellow Pin: Confirmed bedrock gold occurrences (quartz veins in granulites and granulite gneisses) Red pin: Confirmed alluvial gold occurrences and artisanal operations.

It is considered a highly prospective concession for further gold discoveries as currently more than 70% remains unexplored with indicative quartz veining widely distributed.

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The Licence Terms

Well defined and stable minerals policy

• i. Exclusive Prospecting and

• Exploration license nr. 8416

• ii. Licenced by Ministry of Mines and Energy on 15th May 2017

• iii. Valid for 5 years to May 2022 and renewable for a further 5 years

iv. Thereafter can be converted to a 25 years Exploration and Production Licence.

• v. License to prospect for Gold, Aquamarines, Corundum, Quartz, Rubies, Sapphires, Topaz and Tourmaline

• vi. License area: 16,707 hectares

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Regional AeroMagnetic Survey Higher Grade Gold Occurences match geophysical targets

The regional aeromagnetic survey, when superimposed on the licence area, shows high grade metamorphic lithologies with structural corridors with proven gold mineralisation occurring at prominent intersections of E-W trending thrust faults and NNW-SSE trending shear zones. These structures have provided pathways for mineralising fluids and intersection points have provided the open spaces for the higher grade gold occurrences found in the sampling programs. More than 10 exploration targets were generated using such airborne magnetic data and regional geology. Higher definition aeromagnetic and ground magnetic surveys will be undertaken post fund-raising that will provide a major targeting tool for follow-up sampling and drill site location.

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Work Done To-Date (2017-2020)

Savanne Main has been trenched extensively with Onsite Bulk Sampling vs Fire Assay

Dual Approach Taken to corroborate Lab Fire Assay Results against On-Site bulk Sampling

• On-Site Milling and Washing Results categorised into 4 colour categories

• Lab Fire Assay results superimposed on same sampling locations

Encouraging results in green exhibit a Higher Grade Zone of structurally controlled shears

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Total (m) Sampled: 1972m Total (nº) Trenches: 33

Composite channel samples yielded intersections of up to 10.55 g/t Au over 0.55m. Gravity concentration and Leachwell tests confirmed an initial concentrate recovery of 69-80% with gold head grades ranging between 0.712.69 g/t and concentrate grades of 43.03-207.62 g/t.

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Mineralisation Style

Typical multiple veining occurrence indicates surface mining potential

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Typical multiple veining occurrence and density. Shallow dipping quartz veins host free and refractory gold and present an open pit mining target. Gold mineralisation and grade typically occur in shallowly dipping quartz-gold veins, as well as in overlying weathered saprolite. Further exploration by drilling is required to confirm the depth extension of the stacked quartz veins

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Summary: Geology and Sampling Thus Far East West Shear Identified Crossed by NNW/SSE Faults Showing Most Promise

Mineralisation Style Sampling Approach Laboratory Procedures Structural Control Healthy Exploration Pipeline

Gold is hosted in shallowly dipping (15-20°), stacked 5-7 cm thick quartz veins. This represents potentially an open pit, low cost, bulk mining target

In order to minimise a potential nugget effect of the gold grade distribution, a bulk sampling and on-site preparation procedure has been developed

Selected bulk samples (15-17 kg) are shipped to SGS Johannesburg and analysed by gravity analysis and leachwell tests. Future drilling programmes will make use of both standard fire assay techniques for routine core and RC chip samples, and bulk sampling/ analysis techniques for composite metallurgical samples

Exploration work clearly defined a prominent E-W structural and mineralisation trend on all confirmed targets, supporting the use of airborne magnetics and bedrock sampling as prime exploration tools

New bedrock and alluvial/ eluvial exploration targets identified at Sapala, Nahaco, Mutomoho, Nqutwa, Napapa and Muteger as the dredging target

Camp Site Location

Close to water source ideal for onsite sampling activities as well as basic camp facilities

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From a Geo-Technical Perspective: The Principal Benefits Occurrence of surficial alluvial and eluvial gold with shallow bedrock mineralisation

Ideal opportunity to fast-track the low-cost production of alluvial gold, using dredging equipment to generate early cashflow for investment in ongoing exploration activities to establish a JORC resource and define the bedrockhosted lode gold mineralisation opportunity for open-pit mining

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Local Exploration Team
Regional infrastructure and good
accessibility
Dredging opportunity for early
cashflow potential
Shallow Bedrock Mineralisation
Existing Plant and Equipment for
exploration and development
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Money Spent – Sources and Uses

US$1.4m spent so far on fixed asset purchases Capex and Opex

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•
Equipment USD 493,000
•
Testing USD 20,000
•
Exploration USD 600,000
Operating •
USD 265,000
Costs
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Money spent represents $700,000 in 2019 for exploration expenses and the balance was spent in 2017, 2018 in the original scoping analysis by the sponsors to determine the prospectivity of the concession as a world class resource.

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Existing Investment in Company Assets

Minas do Lurio Limitada has already invested heavily in onsite equipment

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Jaw Crusher

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Ball Mill

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Shaker Table

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Trommel

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3 x 15m x 45cm sluices 20 Ton Excavator
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Light Vehicles x 4

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5-ton 4x4 tipper truck
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Pictured: Jaw Crusher, Ball Mill, Shaker Table, Trommel, Sluices, 20 ton excavator, 4 Light Vehicles, Haul Truck.

Various other equipment not pictured: 2 x TLBs (Tractor, Loader Backhoes), conveyor belt with feeder-hopper trailer mounted, gold wheel, two 3-inch petrol pumps 45,000 L/hr, vibrating grizzly feeder with sprayers, 400,000 ltr/hr trailer mounted water pump, and much more.

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Existing Exploration Equipment and Capacity

Full Suite of earth moving, jaw crushing, vibrating feeder and bulk sampling onsite

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Earth Moving
Equipment, Shaker
Table and Portable
Field Crusher, Sluices,
mercury amalgamators
and retort
Jaw Crusher for hard
rock sampling and a
ball mill
60ton per hour
vibrating grizzly
feeder and vibrating
double deck with
water sprayers
Bulk Sampling 5 ton
per hour trommel and
concentrator belt
wash plant
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Minas do Lúrio Limitada already has significant mobile machinery and equipment available for rapid on-site processing of ore. The equipment originally supported a rapid sampling operation during prospecting and can be reliably employed as part of small-scale trial mining operations to enable design parameters of larger scale mining and processing.

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Trenchwork and Sampling Mapping by Experienced Local Exploration Geologist

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A total of 33 trenches were constructed in a 675 m by 285 m area at Savanne Main. Shallowly dipping quartz veins were sampled and composited along the trench walls

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On Site Bulk Sampling

Bulk milled to fine powder and gravity washed on sluices with rubber mats

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Sluiced concentrates are then panned, resulting gold tails in the pan are then evaluated for internal grading. Regular channel samples collected in trenches are bagged for shipment to South Africa for Fire Assay analysis from an accredited laboratory

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Gold Recoveries and Discoveries

Encouraging Recovered Gold (Au) tails in bulk samples

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Numerous alluvial artisanal workings have been identified within the license. Some of the most notable ones are known under the name of Nkutwa and Napapa. Both locations have been discovered by the local community during 2019 and the artisanals working these areas have recovered significant quantities.

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Artisanals

Extracting significant quantities of gold using only basic equipment

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Following the surface discovery of gold by artisanal miners in 2019, Nqutwa and Napapa are potential new exploration targets and require the evaluation of hard rock gold potential. Artisinal mining to 1.5 metres depth of top soil and panning contents for gold

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Future Dredging Site

Gold trap possible at confluence of streams in the Lurio river

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The license contains 35km of the Lurio river and gold has been confirmed all along the river. The Lurio’s sand banks could be feasible for an ancillary dredging operation. One site in particular known as Muteger, situated in the East side of the license, could present significant potential, as at this point a number of creeks in the river, join their flow and drop into one deeper 9 metre creek, thereby causing a potential“gold trap”which is still to be explored

The above picture shows the Lurio river during the dry season during a visit by the contract geologist together with Winston Theler, Graeme Robertson and James Shedd

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Drilling Programme

Intention is to drill 36 Reverse Circulation and 4 Diamond Drill drillholes

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Drilling will investigate the continuation of known shallow mineralisation at depth and obtain essential samples for geological and geochemical analysis. Rotary core (DD) drillholes will establish a stratigraphic log of the exploration target and improve the geological understanding of the target. Reverse circulation (RC) drillholes will test each target at a pre-defined grid spacing, and collect enough samples for routine geochemical analysis, and bulk composite gravity analysis/ leachwell tests

Illustrative pictures of Diamond Drill and Reverse Circulation Rigs

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Dredging Programme Suction dredges

TWO 6” AND 8” SUCTION DREDGES

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To use for exploration and early trial production in streams flowing into the Lurio River and for shallow parts of the River which flows over 35km through the Minas Do Lurio concession area. The cost of such machines range up to US$75,000 installed and operating. During the commercial production stage of the project it is anticipated that the small dredges will be useful for back-up production to support larger scale dredging. The operation of these dredges are included in the US$2.5Million Capital Raising.

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AUGER DREDGE ECO 2020 (OR SIMILAR)

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Once the small dredges above are working and gold sinks are established in the Lurio River, a larger dredge to produce gold from the river will commence commercial operations in gold production which in addition to the Trial Production dredges will produce cash-flow for the project while the main hard rock areas are being developed. The large dredge would cost approximately US$500,000 which is included in the US$2.5Million Capital raising.

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Exploration Programme and Budget 2021 Geophysical interpretations to dictate drill targets

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$321K $247K $140K $407K
Geophysical Works Shallow Drilling Analytical Work Geologist and
Consumables
• Aeromagnetic Aerial • Mobilisation • Rotary Splitting
Survey • De-Mobilisation • Pulverising
• Geologist Costs
• Structural Interpretation of • RC Holes • AU metalics • Resource Report
Aero Mags and • DD Holes • Gravity Analysis
Radiometrics • Corebox, Bags, Other
• Petrophysical Test Works • Casing • Leachwell Test • Camp running cost
• Induced Polarisation (IP)
Survey
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Minas Do Lurio’s Limitada (March-November) 2021 exploration programme will comprise geophysical surveys (magnetics, radiometrics, IP) to define mineralisation corridors and vectors at license scale, followed by a RC and DD drilling programme to test the depth extension of known surface mineralisation trends. A JORC technical report will summarise and evaluate all historic exploration and 2021 drilling activities. The exploration Budget for 2021 is US$1.300 million with a total budget of US$2.175 million expected to include finance for dredge specific development work and potential new discoveries.

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Time Lines for First Stage to Initial Production Fifteen months to Gold Sales

Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Fund Raise AeroMagnetic Airborne Survey Petrophysical Test work Induced Polarisation (IP) Ground Survey Reverse Circulation Drilling Diamond Drilling Laboratory Analysis Geological Resource Report Procurement of Dredging Plant and Equipment Second Fund Raise Plant Construction and Commissioning Production Gold Sales Exploration for JORC Resource

The timelines reflect the development of early production from dredging of the alluvial gold target including dredging plant construction and commissioning. The JORC development stage will be partly financed from revenues raised from gold sales during the alluvial project. Bedrock gold mining and production is targeted to commence by mid 2023.

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Board International Board with Mining Pedigree

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GRAEME ROBERTSON Chairman

Graeme Robertson has 40 years experience in the mining, energy and infrastructure industries in Australia, Indonesia and Africa as an industry leader. He is the Chairman of Intra Energy Corporation Ltd, Director of the Mining and Energy Club as well as President of the Australian Chamber of Commerce in Mauritius and Chairman of Intrasia Group of companies operating out of Singapore and Mauritius. A follower of ESG principles, he is also Chairman of the AfrAsia Pre-school for underprivileged children in Mauritius and takes an active interest in social improvement in the mining area in Mozambique

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ASLAM KANOWAH Director

Aslam is the CEO of Intrasia Management (Mauritius) Limited. He holds a Master in Business Administration – International Banking and Finance and is a Fellow of the Association of Chartered Certified Accountants (FCCA). He is an accomplished finance professional, banker and accountant with over 32 years experience in the financial services sector covering administration, banking, compliance, treasury and fund management. Aslam has 20+ years executive level experience in business development and strategic planning and hands on knowledge in developing licensed corporate, funds and wealth management companies . He has an exceptional track record in the start-up of offices for international and regional companies in Mauritius.

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KERRY ANGEL CPA AGIA ACIS Chief Financial Officer

Kerry is a Certified Practicing Accountant and a member of the Governance institute of Australia. She has more than twenty years’ experience in senior accounting and management roles with experience in chartered accounting, mining and mining services companies including Whitehaven Coal, Roche Mining, Roche Castings and Brandrill Drilling. Kerry has five years’ experience as the CFO/Company Secretary for ASX listed exploration companies involved in the exploration of various minerals including gold and niobium and eight years’ experience working in Africa with exploration and mining companies in Mozambique, Malawi and Tanzania. Kerry has been the CFO of ASX listed Intra Energy Corporation since April 2015

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KAREENA NEISIUS Director

Kareena Neisius holds aan LL.M. in Law from Paris II (Pantheon-Assas) University. After spending several years in management roles, Mrs. Neisius joined Intrasia Group as an Executive Director. In this capacity, she has successfully established and manages the group business activities in Mauritius. Kareena sits on several boards active in investments in the mining and energy sector as well as providing corporate services internationally. Kareena is also the President of Chaînes des Rôtisseurs, Mauritius and Vice President of Australian Chamber of Commerce of Mauritius.

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Management Team Strong African In-Country Hands-On Mining Experience

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James SHEDD

Director and Chief Executive Officer

James has more than twenty two years of experience in the mining industry. He is the Managing Director of Intra Energy Corporation Limited and a Director of Intra Minerals Ltd. His gold projects have included Performance Improvement Coordinator at Sabodala Gold Mine for Teranga Gold Corp in Senegal. Project Manager at Grasberg Gold Mine in Indonesia for FreeportMcMoRan. Transformation Manager at the Gosowong Gold Project in Indonesia for Newcrest Mining, he did consulting work for the Martabe Gold Mine, Lihir Gold in Papua New Guinea, Timmins Gold Corp in Canada, Bulyanhulu Gold Mine in Tanzania for Acacia/Barrick.

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WINSTON THELER Chief Operating Officer

Winston Theler is the initiative behind Minas de Lurio Limidata. He is of Swiss and German nationality and moved to Mozambique in 2012 and in early 2014, moved north to Pemba, where he worked as Regional Manager Sub-Saharan Africa for the Petronor Group. His mining career begun with a ruby mining operation near Montepuez, but a year later, Winston located the most prospective area for gold mining which is now Minas do Lurio project and obtained the Exploration and Prospecting license for a 17.000 has area along the river Lúrio in 2017 from investing his personal earnings into the project. Besides his role as Director and COO for Intra Minerals, Winston is Regional Manager North for Peschaud International.

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BENEDICTA GRÄFIN VON SCHALL-RIAUCOUR Chief Administrative Officer

Having attained a Bachelor of Business Administration from the European University and the University of Dallas, Benedicta started her career 16 years ago in Private Banking with the Santander Group in Spain. Since 2008, she has been managing and controlling various of her private companies in Europe and Africa and is now responsible for the financial controlling of over a dozen limited responsibility companies ranging from mining, heavy equipment rental, tourism, oil and gas support services to security services. At the same time, she is the Country Manager for the Dubai-based Petronor Group in Mozambique, which develops Life Support and Operating Bases.

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Geologist Credentials and Credibility Strong endorsement from three leading geologists with regional expertise

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BENEDIKT STEINER

Benedikt is a chartered geologist with 11 years of global experience in project generation, testing and evaluation, principally with Rio Tinto Exploration and as a consultant. He is a qualified person for JORC, NI 43-101 and PERC compliant reporting and valuation. Recently, Benedikt has been running field and consulting work in Argentina, Sierra Leone, Rwanda, Mozambique, Finland and Myanmar. He was involved in the Rössing Z20 discovery (Namibia) in 2011-12 and was the driving force behind the discovery of a granite-hosted mineralisation system in the Vosges Mountains (France). Benedikt is a published expert in geochemical exploration and targeting. He obtained his Master of Science degree in Geology from the Royal School of Mines, Imperial College London, in 2009, and is the Master of Science Programme Director in Exploration and Mining Geology at the Camborne School of Mines, UK, where he spearheads the development of postgraduate and professional training for the mining industry.

KIM STANTON-COOK

Kim Stanton-Cook is an exploration / development geologist with over 45 years’ experience gained since graduation from Macquarie University in 1971. He has conducted mineral exploration throughout Australia, in Papua New Guinea, New Zealand, Fiji, the USA and Canada. He has reviewed mineral properties in Vietnam, the Philippines, China, Mongolia, Brazil and Zimbabwe

YURI BORGES CHAMBAL

Yuri Chambal is an exploration geologist with a Bachelors Degree in Geology obtained in 2018 from the School of Science-Geology of Eduardo Mondlane University. With over three years of professional experience as a field geologist he has participated in the project "Systemisation and Characterisation of Industrial Mineral Deposits in Mozambique" under the Mozambican National Institute of Mines (INAMI) and is currently the field exploration geologist in the Minas Do Lurio project. Yuri provides field support, data managemnet and interpretation as well as technical assistance and reporting. He has been responsible for new discoveries in the concession area and is building a strong technical background in the geological formation of gold systems.

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Corporate Governance and CSR

Local Community Relations driven by provision of jobs, safe water and medicals

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• The Minas Do Lûrio Limitada’s concession license houses approx. six local communities on the Southern side of the Lúrio river. To get their daily provision of sweet water, the local population has to cover a large distance to the river, mostly on foot .

• Upon completion of the drilling programm, the rig will travel to the different villages for the drilling of water well. These wells will be fitted with manual pumping and solar water treatment systems to provide the local community with safe drinking water and help combat cholera outbreaks which are still frequent in this area, especially during the rainy season.

• Furthermore, Minas Do Lûrio Limitada will have a trained para-medic among its team, who will be travelling to the local communities within the concession area to attend the local population and provide them with oftentimes lifesaving medication (e.g. anti-malarials, antibiotics etc.) whenever his services are not required at the camp.

• As the operations develop, Minas Do Lûrio Limitada will develop catering facilities such that food can be provided in a sustainable ESG compliant manner by local villagers and produced in organically rehabilitated sections of the mining operation.

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Contact Details www.intrafrican.com

Graeme Robertson Chairman, Intrafrican Resources Limited graeme@intraenergycorp.com.au

James Shedd Managing Director, Intrafrican Resources Limited jim@intraenergycorp.com.au

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Intrasia Management (Mauritius) Limited Level 6, 20 Edith Cavell St, Port Louis, 11302 Mauritius www.intrasiamanagement.com (+230) 260 0342

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Intra Energy Corporation Limited Level 40, 2 Park Street Sydney, NSW 2000 Australia www.intraenergycorp.com.au

(02) 8280 7111

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