CATALYST METALS LIMITED — AGM Information 2018

Nov 27, 2018

Annual General Meeting Melbourne

28 November 2018 Bruce Kay Technical Director

Disclaimer & Forward Looking Statements

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• This presentation has been prepared by Catalyst Metals Limited (“Catalyst”). This document contains background information about Catalyst current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

• This presentation is for information purposes only. Neither this presentation nor the information in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

• This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdictions. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such a jurisdiction.

• This presentation does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

• To the fullest extent permitted by law, Catalyst and its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

• This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Catalyst. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under any applicable law and the ASX Listing Rules, Catalyst does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation of any changes in events, conditions or circumstances on which any such forward looking statement is based.

Slide 2

Company Objectives

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• Develop assets with strong upside potential

• Enhance value via professional exploration

• Make a major Gold Discovery

• Become dominant in a world class gold province

• Gold production using local plant

“Dominate the Region”

Slide 3

2018: Another Great Year for Catalyst!

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• More high grade gold intersected in RC at Four Eagles Gold Project

• Evidence of “stacked” high grade shoots in diamond drilling at Tandarra and Boyd’s Dam

• New gold discovery confirmed at Cunneens Prospect

• Two new 10-year Retention Licences granted

• Golden Camel JV signed and gold intersected

• St Barbara Limited increases equity (15.9%)

• “Catalyst has a dominant position in a world class emerging gold province”

Slide 4

Catalyst History 2010-2018

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Slide 5

Victorian Gold 2008 to 2018

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From ugly duckling …to beautiful swan!

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Victorian Gold

 Bendigo Australia’s 2nd largest goldfield (22 moz historic prod.)  Whitelaw Fault controls gold mineralisation

 Mines Dept predicts 32 moz covered by Murray Basin Sediments

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Slide 7

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Catalyst 2018: Controls Major Faults

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32Moz Gold
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 Bendigo/Fosterville: ?32 moz gold (historic production and resources)

 Virtually untested

“ Could be more Fostervilles and Bendigos under cover!! ”

Slide 8

Catalyst 2018: Exploration Success

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BOYD’S DAM BOYD NORTH HAYANMI 16m @ 63g/t Au 9m @ 8.2g/t Au 20m @ 21.4g/t Au 19m @ 10.5g/t Au 3m @ 154g/t Au 22m @ 36.5g/t Au 17m @ 8.5g/t Au 4m @ 20g/t Au 6m @ 21.5g/t Au

DISCOVERY 6m @ 82.7g/t Au 3m @ 9.6g/t Au

TANDARRA 17m @ 7.1g/t Au 10m @ 17.9g/t Au 5m @ 17.0g/t Au

Slide 9

Whitelaw Fault Interpretation

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(Seismic)

Slide 10

Bendigo: A World Class Gold Field

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Bendigo Goldfield

 Largest gold producer in the world from 1850 to 1890  22 million ounces at 15g/t Au  Every Vertical 100 metres contained 3 to 5 moz of gold  Larger footprint than the Kalgoorlie Super Pit

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Slide 11

Finding the Next Bendigo

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• Manage the entire Whitelaw Gold Corridor

• Using world-class exploration techniques

 Strong JV partner GEV (sub of Hancock Prospecting PL)

 Equity investment by St Barbara Limited (16%)

• TARGET funding of $912,000 granted

• High grade gold at Four Eagles and Tandarra

• Excellent infrastructure and gold plants in district

Slide 12

‘Lifting the Cover’ 2011-2018

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• Control of entire Whitelaw Gold Corridor

 Gravity and Seismic reveal basement structures

 Pathfinder geochemistry defines gold trends

 Air Core drilling at Four Eagles and Tandarra  GEV support enables major drilling programme “Potential for both shallow open pit and large primary lode gold discoveries”

Slide 13

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Four Eagles Gold Project JV 2011

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Initial Catalyst Providence JV

• Signed January 2011

• $2.1 m to earn 50%

• Totally concealed by Cover

• 3 gold intersections > 1g/t Au

Slide 14

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2017/18 Drill Intersections

 20m @ 21.4g/t Au (H)  22m @ 36.5g/t Au (H)  6m @ 21.5g/t Au (H)  4m @ 20.0g/t Au (BN)  5m @ 7.9g/t Au (BN)  9m @ 8.2g/t Au (BN)  6m @ 31.6g/t Au (BD)  19m @ 10.5g/t Au (BD)  16m @ 63.0g/t Au (BD)  5m @ 36.2g/t Au (BD)  3.0m @ 9.6g/t Au (D)

Slide 15

Boyd's Dam 2018 Drilling

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Slide 16

Boyd's Trend Long Projection

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Slide 17

Boyd's Dam Cross Section 5989575N

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• Evidence of stacked zones of gold mineralisation

• First diamond drillholes below 100 metres depth

• Similar stacking to Bendigo and Fosterville

Slide 18

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Hayanmi Trend

 2.9 kms long

 High Grade Gold

 20m @ 21.4g/t Au  22m @ 36.5g/t Au  6m @ 21.5g/t Au  9m @ 5.7g/t Au  1m @ 103g/t Au  41m @ 3.9g/t Au  9m @ 7.9g/t Au  3m @ 14.7g/t Au  2m @ 19.2g/t Au  3m @ 12.6g/t Au

Slide 19

Hayanmi Longitudinal Projection

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“Deep diamond drilling to discover high grade repetitions”

Slide 20

Hayanmi Long Projection cf Fosterville

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Slide 21

Boyd’s Dam Cross Section cf Fosterville

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Slide 22

Hayanmi vs New Chum Bendigo

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Slide 23

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Lifting the Cover

Gravity Survey

• First Vertical derivative shows known gold channels

• Gold discovered on Targets 3 and 4 (yellow lines)

• Cunneens Prospect

• >1.6 kms long

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TARGET: Macorna Bore

• 15 km long strike length

• Anomalous As in shallow basement

• Weak Au in old WMC holes

• TARGET co-funding $312,000

• Gravity targets defined for Air Core Drilling

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Sebastian Project

• Along strike from Bendigo Goldfield

• Produced 186,000 ozs @ 10.4g/t Au

• 5km strike extension untested

• Shallow basement depth < 30 metres

• Possible structure to

west

Slide 26

Tandarra Gold Project - Summary

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• Catalyst has earned 51%

 High grade gold at less than 20m depth

 10 to 20km strike length of untested structure  Open pit potential at Tomorrow Prospect  Angled RC and Diamond Drilling completed  Air core drilling of Gravity targets completed

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2018 Tandarra Drilling

• Aircore reconnaissance drilling:

• Gravity Targets, Dingee

• RC Blade drilling:

– Tomorrow Nth/Sth

• Diamond drilling Tomorrow Zone

• Gold intersections in all programmes

Slide 28

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Tandarra Gravity

• First Vertical derivative shows known gold channels

• Other potential gold zones targeted (yellow lines)

• Eight (8) Targets drilled

• Gold intersections at T4 and Dingee Zone

Slide 29

Tomorrow Zone Aircore RC/DD

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Slide 30

Tandarra 2018 RC/DD Drilling

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Slide 31

Tomorrow Conceptual Pit

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Slide 32

Four Eagles Fine and Coarse Gold

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• 60% Fine Gold, Low Nugget Effect (16%)

• Good Correlation between small and Large sample assays

• High metallurgical recovery likely

Slide 33

Four Eagles Gold Distribution

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• Metallurgy shows 53% finer than 38 microns: 26% coarser than 150 microns

• Variography shows 16% nugget effect cf. 90% at Bendigo

• Good Correlation between 25 gram and 2 kg assays

• Gravity and Cyanide should get good recoveries

Slide 34

25gram vs 2kg Correlation Graph

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Slide 35

Technical Programme 2018

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• Drilling at Four Eagles Gold Project 

• (+ 10,000 metres Mar to June 18)

 RC and Air Core drilling at Tandarra (Gravity  Targets and Tomorrow extension)

 Reconnaissance air core drilling at Macorna  Bore, Sebastian, Tandarra

 Deep diamond drilling at Four Eagles  and Tandarra

Slide 36

Catalyst Capital Structure

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Capital Structure (ASX: CYL)  70,212,444 fully paid ordinary shares

• 1,000,000 unlisted options @ $1.00

 Top 20 control approximately 70% of issued capital

Cash in hand

 A$4.6 million (at 30 September 2018)

Market Capitalisation  A$119 million (at $1.70 per share)

Slide 37

Corporate Structure

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Non-Executive Directors

• Bruce Kay

• Former Head of Worldwide Exploration for Normandy Mining and Newmont

• Stephen Boston

• Principal of Perth based Private Investment Group

• Robin Scrimgeour

– Former banker in London, Tokyo, Hong Kong and Singapore

• Gary Schwab

– Certified Practising accountant, former Executive Director of private Australian based commodity Company

Slide 38

Competent Persons Statement

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Competent Person’s Statement

The information in this report that relates to exploration results is based on information compiled by Mr Bruce Kay, a Competent Person, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Kay is a non-executive director of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity 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 (the JORC Code). Mr Kay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Much of the historical information relating to the Four Eagles project was prepared and first disclosed under the JORC Code 2004. This information has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was reported.

Information relating to the Tandarra, Sebastian and Raydarra projects was first disclosed by previous tenement holders under the JORC Code 2004. This information has been subsequently reported by the Company in accordance with the JORC Code 2012, refer to announcement dated 1 September 2014 and the Quarterly Activities Report dated 31 July 2014.

Slide 39

Annual General Meeting Melbourne

28 November 2018 Bruce Kay Technical Director