CASTILE RESOURCES LTD — Investor Presentation 2021

Aug 1, 2021

www.castile.com.au

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Compliance & General Disclaimer

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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 and accurately represents, information and supporting documentation compiled by Mr. Jake Russell
B.Sc. (Hons) MAIG and Mr Mark Savage who each have sufficient experience which is relevant to the styles of mineralisation, the types of deposit under consideration and to the activities being undertaken 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 (JORC 2012)”. Mr Russell is a Member of the Australian Institute of Geoscientists and 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. Mr Savage is a Member of The
Australasian Institute of Mining and Metallurgy and a full time employee of Castile. Mr Russell and Mr Savage each consent to the inclusion in this report of the matters based on this information in the form and context in which it
appears.
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 previously announced to the ASX, including mineral resource estimates and exploration results announced to the ASX on 12 February 2020 in its Prospectus dated 3 December 2019, and
exploration results announced to the ASX on 14 and 20 October 2020 and also on 2 November 2020 and ASX:CST Announcement 26 November 2020 “Castile Resources Drilling Program Update” and ASX Announcement 24 May
2021 “High Grade Gold and Copper Results in Drilling at Rover 1”, ASX Announcement 2 June 2021 “30g/t Gold and 4% Copper In Assays From Rover 1” and ASX Announcement 29 June 2021 “Latest Hits Expand High Grade Gold
Zone at Rover 1”. 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 2 August 2021 and was authorised for release by the board of Castile Resources
Castile Resources Limited – Level 7, Ashton Chambers, 189 St Georges Terrace, Perth WA 6000.
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Strong Cash Position for Exploration and Development

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ASX Code CST Shares on Issue 199.7M Share Price A$0.19 Market Cap A$38M Cash as at 30/06/21 A$11.2M

Fully Funded 10,000m Drilling Program Started March 2021

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The Rover Mineral Field Surroundin Infrastructure and Resources g

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

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57kms

Explorer 108 11.8Mt 3.2% Zn 2.00% Pb, 11.1g/t Ag 5.7Mt of 0.36% Cu

Rover 3 Geophysical anomaly similar in size to Rover 1.

Explorer 142 176kt @ 5.2% Cu

Rover 1 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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Rover 1 – A Spectacular High Grade Gold Copper (IOCG) Deposit

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Gold Intercepts

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Rover 1
Typical Tennant Creek high grade Iron
Oxide Copper Gold (IOCG) deposit
Castile is currently completing a PFS
on the Rover 1 Deposit
Over 85,000 metres of drilling and a
Scoping Study has been completed by
former owners
By-products include cobalt, bismuth ,
silver and coal washing magnetite
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10m @ 47.97g/t Au from 471m in R1ARD41-1

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

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

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

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

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

Copper Intercepts

21m @ 6.86% Cu from 469m in WGR1D011

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

27m @ 3.26% Cu from 935m in WGR1D055-1

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

42m @ 4.10%Cu from 360m in R1ARD30

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

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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Rover 1 – 2021 Resource Definition drilling nearing completion

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2021 Rover 1 Resource Definition Drilling

Plan view of Rover 1 Proposed Mine Design

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Holes 1, 2 & 3 and Daughters Complete

Hole 5 and Daughters Currently being drilled 5 4 3 2 1

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2021 Drilling Expands High Grade Gold Zones at Rover 1

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21CRD001A
21CRD001A
21CRD001A
21CRD001A
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High Grade Hits Continue at Rover 1

Hole 21CRD001A

31.7m @ 8.6g/t Au with 0.8% Cu

inc 11.5m @ 17.2 g/t Au with 1.1% Cu

16.5m @ 12.7g/t Au with 1.1% Cu inc 1.1m @ 20.4 g/t Au with 3.9% Cu inc 0.3m @ 8.2g/t Au with 12.0% Cu

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First Hole of 2020 Delivers Stunning Intercept from Rover 1

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Jupiter Zone Cross Section showing Hole 20CRD001 The red areas show the new, larger additional interpreted ore zones

The first hole drilled by Castile 20CRD001 delivered the best Gold Copper intercepts ever received at Rover 1 30.4m @ 35.6 g/t Au with 1.46% Cu

Conclusions of 2020 Program Rover 1 High grade “Bonanza” gold zones in Rover 1

Super-rich gold lenses typical of the great mines of the Tennant Creek goldfields More intense drilling required to validate enriched zones continuity for the PFS due to the large value of gold and copper metal dependent on each intercept

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See ASX:CST Announcement 14 October 2020 “Stunning Gold Intercepts from Rover 1 – Amended” and ASX:CST 20 October 2020 “Castile Receives significant Copper Results from Rover 1

Rover 1 – Metallurgy – A New By-Product to Add Value

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Flotation Testing of ore from Rover 1

Mineral Engineering and Technical Services (METS) Preliminary Testing

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Preliminary Results from Laboratory Testing

• Gold is recovered from gravity, within the sulphide float and Carbon in Leach (CIL)

• High Grade Gold Variability Testing and Recoveries for “Bonanza Gold” sections upcoming

• Bulk sulphide float at 105mm occurs in approximately 5 minutes

• +95% Copper Recoveries in Preliminary Flotation Testing Results

• Copper Concentrate Product (containing +95% of Cu) will weigh only 15% of ore fed to mill (significant transportation/logistics advantages)

• Crushing, mill selection results as expected for an Iron-Oxide-Copper-Gold ore body.

• Premium Value Coal Washing Magnetite by-product to be included in Pre-Feasibility Study

• Coal Washing Magnetite extracted from “waste” rock at surface greatly reducing waste stream while adding significant by-product value to project

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Rover 1 – Potential for Environmentally Sustainable Mining

The Rover 1 Pre-Feasibility Study is analysing the possibility of solar power options for the processing plant and an electrified underground haulage mining fleet Potential for world first Carbon Neutral Mine.

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Sandvik LH518B, 18t Underground Battery Powered Loader
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Epiroc MT42 Battery Powered 42t Underground Truck
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SunCable Solar Farm

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a Electric Haulage Trucks and Loaders now available in Australi

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Regional Targets Prepared and Scheduled for DHEM

Clean Outs for DHEM and Drill Testing Complete

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EXPLORER 108 Two hole clean outs completed for EM Probe in August ‘21 EM Targeting High Grade Primary Copper Source Existing Resource of 11.8Mt 3.2% Zn , 2.00% Pb, 11.1g/t Ag and 5.7Mt @ 0.36% Cu

ROVER 3

High Grade Gold and Copper Prospect Hole cleanout in August ‘21

EXPLORER 142

One hole clean out complete EM Targeting gold structures Existing Resource of 176Kt @ 5.2% Cu

ROVER 1 Resource Definition Drilling for PFS continues

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Explorer 108 – The Treasure Hunt for the Primary Copper Source

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Explorer 108 - Copper Feeder Zones surrounding the huge lead/zinc deposit – where is the copper coming from? The primary copper source at Mt Isa was discovered beneath the lead/zinc deposit

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A
Explorer 108
Copper Feeder
Zones make up
the existing
Mineral B
Resource of EM Probe to
5.7Mt @ 0.36% survey Hole
NR108D026 Mt Isa Simplified Section
Explorer 108 and Mt Isa are 700kms apart and
share the same Tectonic Setting, Host Rocks,
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Explorer 108 and Mt Isa are 700kms apart and share the same Tectonic Setting, Host Rocks, Structural Controls and Mineralisation Style with the Primary Copper source situated beneath the lead/zinc deposit

EM Probe to go down hole into NR108D026 at Explorer 108 to survey for anomalies beneath the lead/zinc deposit associated with the primary copper source

Current Resource at Explorer 108 11.8Mt 3.2% Zn, 2.00% Pb, 11.1g/t Ag with 5.7Mt 0.36% Cu

*Comparison between Explorer 108 (A) and Mt Isa (B). Mt Isa simplified section from McLellan et al (2014).

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Explorer 142 – DHEM to survey and drill test for Gold Anomalies

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EXPLORER 142 ROVER 1
Similar size and geophysical properties to Rover 1
2021 drilling designed to explore for the gold cap at
Explorer 142
Hole NR142DD003
clean out complete
for DHEM Targeting
Gold structures
ROVER 1
Explorer 142 Resource: 176kt @ 5.2% Cu
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Rover 3 – Geophysics Re-interpretation Leads to Strong Target

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Rover 3 Rover 3
2020 Geophysical
Interpretation
2008 Magnetic source interpretation
assumes 2 separate
magnetic sources
Hole WGR3D001 at Rover 3
to be cleaned out for
DHEM
2021 DHEM and
2008 Test drill hole
drill program
to test the new
source model
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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 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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Investment Highlights

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

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

2. Strategic focus on exploration & development at Rover 1

• Fully funded 10,000m of drilling planned for 2021 with Resource Definition and high impact exploration targets

• High-grade gold/copper polymetallic orebodies

• Ongoing Pre-Feasibility Study at Rover 1 now includes significant high value magnetite product

• Huge copper resources adding to gold endowment across all prospects

• Opportunity to become first carbon neutral mine development in the world

3. Explorer 108, Explorer 142 and Rover 3 clean outs complete or scheduled

4. Significant exploration upside at prospective targets with DHEM to begin late August

5. 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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