CASTILE RESOURCES LTD — Investor Presentation 2020

Jul 29, 2020

Castile Resources Limited ASX : CST Investor Presentation July 2020

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Compliance & General Disclaimer

JORC COMPLIANCE STATEMENT

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Competent Persons Statements

The information in this report that relates to Exploration Results and Mineral Resources and Exploration Data is based on, and fairly represents, information and supporting documentation compiled Mr. Jake Russell B.Sc. (Hons) MAIG who has sufficient experience which is relevant to the styles of mineralization, the types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Editions of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC 2012)”. Mr Russell consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. Mr Russell is a Director of Castile Resources Limited and is eligible to and may participate in any short-term and long-term incentive plans of the Company as disclosed in its annual reports and disclosure documents.

GENERAL DISCLAIMER

This presentation has been prepared by Castile Resources Limited. It should not be considered as an offer or invitation or inducement to subscribe for the purchase of any securities in the Company. This presentation may contain forecasts and forward-looking statements. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied. Castile has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, Castile makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information, statement or opinion contained in this presentation.

This overview of Castile does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

The information in this presentation is general in nature and does not purport to be complete. This presentation is not a prospectus, disclosure document or other offering document under Australian law or under the laws of any other jurisdiction. This presentation is provided for information purposes and does not constitute an offer, invitation, inducement or recommendation to subscribe for or purchase securities in Castile Resources in any jurisdiction.

PREVIOUSLY REPORTED INFORMATION

This presentation refers to information, including mineral resource estimates and exploration results, previously announced to the ASX on 12 February 2020 in its Prospectus dated 3 December 2019. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements or this presentation, and that all material assumptions and technical parameters underpinning the mineral resource estimates continue to apply and have not materially changed.

This presentation was released on 30 July 2020, and was authorised for release by Mark Hepburn, Managing Director of Castile Resources Limited Castile Resources Limited – Level 7, Ashton Chambers, 189 St Georges Terrace, Perth WA 6000.

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Attractive Valuation, Well-Funded to Explore & Develop

ASX Code Shares on Issue Share Price Market Capitalisation Cash (30 June 2020)

CST 199.7M A$0.24 A$48M A$17.23M

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Pre-Feasibility continues at the Rover 1 Gold Project

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Western
Zone
Jupiter
Zone
Rover 1 Design Option
85,000m of drilling already completed on Rover Field.
Jupiter Deeps Capital development (brown), operating development
Zone (yellow) ore development (blue), stoping (purple),
escapeway network (green) and ventilation network
(red).
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Gold Exploration Drilling to Begin at Rover 1

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Rover 1 Gold Project Drilling Program August 2020

Ganymede Gold Exploration Target Western Deeps Gold Copper Exploration Target Jupiter (and Deeps) Resource Definition

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United Drilling Rig Mobilising to Site

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Rover 1 – A Spectacular High Grade Gold Copper Deposit

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Gold Intercepts

Copper Intercepts

21m @ 6.86% Cu from 469m in WGR1D011

10m @ 47.97g/t Au from 471m in R1ARD41-1

7m @ 125.93 g/t Au from 542m in WGR1D034

27m @ 4.75% Cu from 429m in WGR1D024-1

20m @ 32.61 g/t Au from 469m in WGR1D003

27m @ 3.26% Cu

from 935m in WGR1D055-1

23m @ 13.22 g/t Au from 833m in WGR1D059-2A1

30.2m @ 4.46% Cu from 827m in WGR1D059-2A1

22.75m @ 21.89 g/t Au from 499m in WGR1D002-5

42m @ 4.10%Cu from 360m in R1ARD30

12m @ 58.40 g/t Au from 555m in WGR1D002-5

29m @ 3.60% Cu from 399m in WGR1D034-1

Drill core from Rover 1

The Company refers to the exploration results contained in this presentation as sourced from its Prospectus dated 3 December 2019 and released on the ASX on 12 February 2020, and confirms that it is not aware of any new information or data that materially affects the exploration results information included in the Prospectus

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The Rover Project Surroundin Infrastructure and Resources g

Gas, Rail, Road and Commercial Airport close to a major regional centre

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57kms

Explorer 142 176kt @ 5.2% Cu

High Grade Gold Core 1.32Mt @ 7g/t +300,000oz Au High Grade Copper Core 3.56Mt @ 1.76% for +63,000t Cu

Explorer 108 11.8Mt 3.2% Zn 2.00% Pb11.1g/t Ag Rover 1 Total Mineral Resources 6.9Mt 1.74g/t Au, 1.20% Cu, 0.06% Co, 0.14% Bi

The Company refers to the mineral resource estimates contained in this presentation as sourced from its Prospectus dated 3 December 2019 and released on the ASX on 12 February 2020 and confirms that it is not aware of any new information or data that materially affects the mineral resource estimates included in the Prospectus.

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Ganymede – Potential for an additional gold structure

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Ganymede
Conceptual
Gold Target
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Previous drill hole WGR1D043-2 was drilled down dip of the Jupiter ironstones with significant gold mineralisation intercepted over 200m vertically below the Jupiter Deeps ironstone structure This included two discrete zones of: 15m @ 6.0g/t down hole from 1033m and 12m @ 4.6g/t down hole from 1082m

The Company refers to the exploration results contained in this presentation as sourced from its Prospectus dated 3 December 2019 and released on the ASX on 12 February 2020, and confirms that it is not aware of any new information or data that materially affects the exploration results information included in the Prospectus

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Rover 1 – Exploration Drilling to Expand the Resource

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Jupiter West Deeps Target
The Rover 1 geological model indicates
Jupiter West Jupiter West
a repeat of Jupiter West mineralisation is Jupiter
likely at depth.
Diamond drilling and DHEM is planned
to evaluate this conceptual target.
Jupiter Deeps
Jupiter Deeps
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METS Engineering Study – Conceptual Flowsheet

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METS Report suggests potential for additional by-product of Coal Washing Magnetite from waste ore

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Experienced Board & Management

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Peter Cook

Non-Executive Chairman

Mr Cook is a geologist BSc (App Geol 1983), mineral economist (MSc Min Econ 1995 WASM) and highly experienced veteran of the Australian resource sector. He is currently the Managing Director of Westgold and has more than a decade of association with the Company and its assets. Mr Cook has substantial experience in the exploration, development, mining, construction, permitting and financing of development projects within Australia as well as the corporate management of listed public entities.

Mark Hepburn

Managing Director

Mr Hepburn has a degree in Economics and Finance (B.Econ. & Fin 1992 UWA) and has been a member of the Australian Institute of Company Directors since 2008. He has significant experience in institutional stockbroking, corporate transactions and the management and corporate development of public companies. He brings 28 years of substantial financial markets experience in the resources sector to Castile Resources. Mr Hepburn is also a Non-Executive Director of ASX listed lithium and gold explorer Mali Lithium after an acting role as CEO where he oversaw the company’s refinancing and corporate re-structuring. He was also on the board of ASX listed Indonesian gold developer Sihayo Resources until November 2018.

John Braham Non-Executive Director

Mr Braham is an experienced Mining Finance and Investment professional having a 24-year career with Macquarie Bank until 2017. For the last 11 years of his service he was an Executive Director and co-head of Macquarie’s Global Mining and Finance Division. Mr Braham has vast experience in the provision of debt and equity to mining, exploration and development companies, worldwide. Mr Braham brings Castile a set of finance and corporate skills to greatly assist with its future financing and development needs. Since November 2018, Mr Braham has served as Managing Director of the ASX listed and South American focused Equus Mining Limited.

Jake Russell

Non-Executive Director

Mr Russell is a geologist B.Sc. (Hons) MAIG with circa 20 years of experience in exploration, mining, resource development and management. He is currently the group Chief Geologist of Westgold Resources Limited and prior to its demerger from Metals X Limited, he was the Group Chief Geologist of Metals X Limited. Mr Russell brings Castile a second to none knowledge of the assets of Castile and a high degree of technical expertise in their exploration, resource development and exploitation.

Michael Poepjes Mining Engineer

Mr Poepjes is a Mining Engineer (B Eng) a Mineral Economist (MSc [Min Econ]) and holds a Master’s Degree in Business Administration (MBA). Mr Poepjes has over twenty years of experience in the mining industry working in gold, copper and tin across Australia in both Corporate and Operational roles. Mr Poepjes previous role was the Chief Operating Officer for Millennium Minerals. Prior to Millennium Minerals, he was the Group Mining Engineer for Metals X (which included the Westgold and Castile assets) for seven years.

Mark Savage Geology Manager

Mr Savage is a geologist B.Sc. (Hons) MAusIMM with more than 20 years of experience in exploration, resource development and mining. Mr Savage brings a wealth of experience to Castile having worked previously for Metals X, RNI and Apex Minerals on pre-development assets.

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Rover Mineral Field Regional Geophysics

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Co-incident Magnetic and Gravity Anomalies Define numerous targets

Three Major Previous Drill Programs Three Significant Discoveries Rover 1 Explorer 108 Explorer 142

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Refer to Figure 18 of the Independent Technical Assessment Report contained n the Prospectus dated 3 December 2019 and released on the ASX on 12 February 2020 and confirms that it is not aware of any new information or data that materially affects the exploration results information included in the Prospectus.

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Investment Highlights

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Castile Resources - The ASX's Newest Gold Explorer & Developer

1. Extensive portfolio in the highly prolific Tennant Creek gold province region in the Northern Territory

2. Strategic focus on exploration & development at Rover 1

• High-grade gold/copper polymetallic orebody

• Scoping study completed – Pre-Feasibility Study underway

• Simple metallurgy with multiple ore bodies

• Close to power and transport infrastructure

3. Significant exploration upside at prospective targets; Explorer 108 Prospect, Explorer 142 and Warumpi

4. Strong Board & Management

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Mineral Resource Statement

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The Company refers to the mineral resource estimates contained in this presentation as sourced from its Prospectus dated 3 December 2019 and released on the ASX on 12 February 2020 and confirms that it is not aware of any new information or data that materially affects the mineral resource estimates included in the Prospectus.

www.castile.com.au

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