CATALYST METALS LIMITED — AGM Information 2022

Jun 14, 2022

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Corporate Presentation June 2022

ASX:CYL | catalystmetals.com.au

AGM Presentation

12 November 2021

Disclaimer

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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.

JORC 2012 Mineral Resource: Catalyst confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements.”

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Catalyst Metals

TWO PILLARS

Victorian Goldfields Closing in on the next Bendigo Goldfield

Prized landholding immediately along strike from Bendigo goldfields

Strategy aimed at finding extensions of Bendigo under cover

Henty Gold Mine Revitalising the high-grade Henty Gold Mine

Focused on growing inventory and increasing production rate

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Catalyst Metals THE COMPANY

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ASX: CYL	ASX: CYL		DIRECTORS	DIRECTORS
Share price_(1 Jun 2022)_	A$1.51		Stephen Boston	Non-Exec Chair
Shares on issue	98.5M		Bruce Kay	Technical Director
Market Capitalisation	~$148M		Robin Scrimgeour	Non-Exec
Cash_(31 March 2022)_	$23M		James Champion de Crespigny	Non-Exec

SUBSTANTIAL SHAREHOLDERS

Directors & Management ~15% St Barbara 12.9% Limited Other 51.9% 12.7% Hancock Prospecting 7.5% Drill Investments

Top 20 ~ 78%

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Bendigo

• Most advanced

• exploration project near Bendigo / Fosterville

• Dominant land position totaling ~2,209Km[2]

• Key Projects:

  • Four Eagles JV

  • Tandarra JV

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Bendigo GEOLOGY OVERVIEW

• Bendigo goldfields produced 22Moz

• High grade, highly concentrated, mineralisation

• Few comparisons globally

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• Folded host rocks exist at depth giving depth extension to mineralisation

• Looking for right structural conditions helps focus exploration

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Bendigo GEOLOGY OVERVIEW

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Four Eagles Project

• Flagship project

• 50 / 50 JV with Hancock Prospecting

• Comprises five prospects

• Boyd’s Dam

• Boyd’s North

• Hayanmi

• Pickles

• Eagle 5

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Boyd’s Dam Prospect

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• Focus of current drilling activities

• Significant gold intercepts:

• 8m @ 212 g/t

• 25m @ 16.6 g/t

• 5m @ 28 g/t

• Resource due late 2022

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Four Eagles exploration tunnel

• Mineralisation lies beneath Murray Basin Sediments and farmland

• Accessing it from surface is expensive and limited to only part of the year

• Exploration tunnel allows for better access to orebody and exploration targets

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Four Eagles Exploration Tunnel

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• Study commenced to assess viability

• 3.2km tunnel; 40km drill program

• Runs beneath sediment cover; parallel to key target areas

• Simple development plan – single team on double shift completing tunnel in ±7 months

• Current estimates anticipate commencing earthworks in Spring 2023

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2022 2023 2024
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
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Studies

Approvals FID

Stage 1 Development

Drilling

Stage 2 Feasibilities/Approvals

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Bendigo – Project Portfolio

Tandarra

• 51/49% JV with Catalyst managing

• Advanced exploration project

• Recently intersected 12m @ 33 g/t Au from 66m

Boort

• 50 / 50 JV with Hancock Prospecting

• Same regional structural setting as Bendigo/Four Eagles

• First exploration campaign completed this season

• Intersected 3m @ 18 g/t Au from 105m

Drummartin

• St Barbara earning up to 50%

• Sits North along strike from Fosterville Mine

• 21km drilling completed to date

Golden Camel

• 51/49% JV with Golden Camel, Catalyst Managing

• Located east of Fosterville on Mt William Fault

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Bendigo Summary

• Focused at Four Eagles

• Resource due in 2022

• Likely to comprise multiple distinct Resources in close proximity to one another

• Commencement of exploration tunnel targeted for spring of 2023

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Portal
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Henty Mine

• Acquired January 2021; since then:

✓ Installed new team

✓ Implemented new incentive scheme ✓ Increased U/G development rate by 100% ✓ Increased U/G drill rate by 400%

✓ Paid all acquisition trailing payments

✓ Delineated several new exciting advanced exploration targets

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Why Henty? Foundations of a low-cost producer

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Henty – FY23 Exploration

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Collar
Zone
Cradle
Zone
Darwin
Extension
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Exploration – Darwin Extension

• Darwin Extension - large exploration target

• Historically, Darwin produced 640koz @ 8.6 g/t gold from an average mining width of 8m

• Remains open at depth

• Limited drilling below current Resource

• Recent drilling generated attractive results:

• 7m @ 12 g/t Au

• 6m @ 32 g/t Au

• 6m @ 19 g/t Au

• 3m @ 17.4 g/t Au

• Exploration drive planned for FY2023 to enable appropriate drill access

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Exploration – Cradle Zone

• Cradle Zone – large exploration target

• Historically, few holes drilled

• Recent Catalyst drilling generated interesting results:

• 4.6m @ 3.8 g/t Au & 176 g/t Ag

• 2m @ 18 g/t Au & 177 g/t Ag

• 0.8m @ 30.6 g/t Au & 99 g/t Ag

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Operating Summary Increasing Gold Production

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• Henty’s operating focus is on exploration

• Gold production currently small with a strategy to increase

• Increased production driven by increasing development and drilling rates

FY 2022 Throughput (t) Grade (g/t) Recoveries (%) Gold produced (oz) AISC (A$/oz)	Q1 Q2 Q3
	49,299 51,686 57,847
	4.6 4.2 3.2
	92.1 91.6 91.3
	6,775 6,311 5,358
	2,098 2,219 2,530

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Current Focus
Completion of Four Eagles Resource
Completion of study, permits and
approvals for an exploration tunnel
Production and inventory growth at Henty
Updated Henty life of mine plan
Growth both organically and inorganically
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