CAZALY RESOURCES LIMITED — Investor Presentation 2021

Mar 16, 2021

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Mt Venn Gold + PGE-Ni-Cu Project

Investor Presentation March 2021

Kevin Seymour Managing Director

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ASX : WML – March 2021

IMPORTANT INFORMATION

DISCLAIMER

This presentation doesn’t include all the information on Woomera Mining Limited and should not be used in isolation as a guide to investing in the Company. Any potential investor should also refer to the Woomera Mining Limited’s Annual Reports, filings and ASX releases and take independent professional advice before considering investing in the Company. For further information about Woomera Mining Limited, visit the website at www.woomeramining.com.au

COMPETENT PERSONS STATEMENT

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Kevin Seymour. Mr Seymour is a Member of the Australasian Institute of Mining and Metallurgy who has over thirtyfive years of experience in the field of activity being reported. Mr Seymour has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity that he is undertaking 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’ relating to the reporting of Exploration Results. Mr Seymour consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

Certain statements in this document are or maybe “forward-looking statements” and represent Woomera’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woomera, and which may cause Woomera’s actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Woomera does not make any representation or warranty as to the accuracy of such statements or assumptions.

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ASX : WML – March 2021

WOOMERA MINING LIMITED – CORPORATE SNAPSHOT

ASX: WML

Share Price (1 Mar 2021):	$0.022	per share
Shares on Issue:	340	million
Options:	144	million
Market Capitalisation:	$7.5	million
Cash (31 Dec 2020):	$0.9	million
Debt (31 Dec 2020):	Nil
Enterprise Value:	$6.5	million

Major Shareholders

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David Lindh
10%
Adelaide Equity Partners
8%
Neville Martin
6%
Other Shareholders
76%
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Share Price History

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$0.040 20.0
$0.035 17.5
$0.030 15.0
$0.025 12.5
$0.020 10.0
$0.015 7.5
$0.010 5.0
$0.005 2.5
$0.000 0.0
Share Price (A$/sh)
Volume (millions)
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ASX : WML – March 2021

WOOMERA MINING LIMITED – NEW LEADERSHIP

Experienced, well credentialled Board with strong history of exploration, development and production success

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Kevin Seymour

Managing Director

Ian Gordon

Non-Executive Chair

David Richards

Non-Executive Director

David Lindh

Non-Executive Director

• +35 years (Geologist)

• Formerly General Manager - Exploration at Ramelius Resources (ASX:RMS)

• Led discovery teams for Lady Ida (Kalgoorlie) and Eridanus (Mt Magnet), in WA

• +25 years (Mining Executive)

• Non-Exec. Director Dreadnought Resources (ASX:DRE)

• Formerly MD at Ramelius Resources (ASX:RMS) and Flinders Mines (ASX:FMS)

• +40 years (Geologist)

• Technical Director – Liontown Resources (ASX:LTR)

• Led discovery teams for Vera-Nancy /Pajingo (Qld) and the Kathleen Valley Lithium Deposit in WA

• +40 years (Lawyer)

• Chairman NuCannCo Science

• Formerly Chairman Centrex Metals (ASX:CXM) etc

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ASX : WML – March 2021

MT VENN – SYSTEMATIC EXPLORATION STRATEGY

• Exploring for standalone gold + PGE-Ni-Cu sulphide discoveries at Mt Venn

• Complex regolith environment

• Deep weathering in parts – previously poorly understood

• Limited previous systematic exploration

• Catalyst for success at Gruyere

• Strategy for success

• Integration of quality geoscientific datasets

Geochemistry

• Compilation of all historical data

• New regional scale litho-structural interpretations

• Systematic field mapping / data interrogation

• Drill test priority targets

• Best practise - cost effective & sustainable exploration

Geophysics Geology

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ASX : WML – March 2021

CORPORATE FOCUS – THE MT VENN PGE-Ni–Cu-Au PROJECT

• Mt Venn JV Project – 80% Woomera Mining / 20% Cazaly Resources

• 366km[2 ] granted tenure

• 125km north-east of Laverton with good access off the Great Central Road

• World-class gold and base metal province

• Within trucking distance of eight neighbouring processing plants

• Low-risk, investor-friendly mining jurisdiction

• Pipeline of drill-ready targets

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ASX : WML – March 2021

MT VENN – PROJECT OVERVIEW

• 50km of highly prospective, underexplored greenstone belt

• Located 40km west of the 6Moz Gruyere Gold Mine

• 7km long gold trend defined at Three Bears

• Mt Cumming setting analogous with Chalice Mines’ Julimar PGE-Ni-Cu Discovery[(][1)]

• Large mafic/ultramafic intrusions

• Undrilled EM anomalies

• Up to 3.2% Cu and 8.2 g/t Au in rock chips[(2)]

• Coincident PGE soil and rock chip anomalism

• (1) Chalice Mining; 2021: ASX Release Bell Potter Unearthed Company Presentation dated 10 Feb 2021

• (2). Elmina NL;1995 -1998: Annual Technical Reports for the years ending 1995-1998 - WAMEX Open File Reports A051251+ A058034

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ASX : WML – March 2021

THREE BEARS – RESOURCE POTENTIAL

• Aircore drilling at Three Bears has confirmed anomalous (>100ppb Au) mineralisation over 7km strike

• Shallow 20[0] east dip

• Open along strike and down plunge

• Significant (+50m) true horizontal thicknesses

• Better intersections include[(1)] :

• 19m at 1.0 g/t Au from 32m;

• 36m at 0.5 g/t Au from 28m;

• 4m at 1.0 g/t Au from surface; and

• 18m at 0.3 g/t Au from 32m to end of hole.

• (1). Woomera Mining; 2021: ASX Release, Mt Venn JV Update – Chapman’s Reward RC Drilling, dated 12 February 2021 rounded to one decimal place. Assays previously reported by Cazaly Resources (ASX: CAZ) in 2017, see their ASX Releases dated 27/2/2017 and 31/10/2017

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ASX : WML – March 2021

THREE BEARS – CROSS SECTIONS

• Broad anomalous gold intersections not

• yet followed up

• Indicate a large, north plunging, alteration / mineralisation system

• Strong biotite alteration +

• Pyr-pyo-cpy sulphides

• Targeted RC and Aircore drilling planned:

• Phase #1 RC drilling will test for high grade shoots, along southern 4km strike ~ 8,500m (80m x 80m centres)

• Aircore drilling will test the western granite contact

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and shallow laterite mineralisation ~ 2,700m (800m x

• 50m centres)

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THREE BEARS – CROSS SECTIONS

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THREE BEARS – RESOURCE POTENTIAL

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Plan view Au gram x metre long-section – showing predicted high grade shoots

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ASX : WML – March 2021

THREE BEARS – DRILLING + SOIL ANOMALIES ALONG STRIKE

• Belt scale gold exploration opportunities remain

• Limited drilling beyond shallow Three Bears Aircore

• Numerous untested soil anomalies

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Old workings Three Bears
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• Refine regolith interpretations

• Prioritise pipeline of drill targets for FY2022

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Spinifex & sand cover Three Bears
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ASX : WML – March 2021

MT VENN – MASSIVE SULPHIDE PROVINCE

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• Highly fertile base metal rich greenstone belt

• Excellent EM conductive sulphides identified in abutting mafic/ultramafic intrusions

• Great Boulder Resources Ltd report semi-massive sulphides from Mt Venn up to:

• 48m at 0.8% Cu, 0.2% Ni and 0.07% Co from 103m[(1)]

• Ausgold Ltd report base metal sulphides from the

• Winchester Farm-in up to:

• 21m at 0.63% Cu, 0.2% Ni and 0.02% Co

  • from 88m[(2)]

• (1). See Great Boulder Resources - ASX Release RIU Prensentation dated February 2021 (2). See Ausgold Limited - ASX Release Corporate RIU Presentation dated February 2021

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Semi-massive to massive pyo + cpy in core from Mt Venn[(1)]

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ASX : WML – March 2021

MT CUMMING – MAFIC/ULTRAMAFIC COMPLEXES

• Three PGE-Ni-Cu-Au massive sulphide prospective intrusions identified

• Mt Warren Sill extends over 5km x 2km

• Similar size and geometry (folded “eye”) to IGO’s Nova-Bollinger Ni-Cu Mine

• Two undrilled EM anomalies

• PGE mineralisation mapped over 2km strike

• Rock chips up to 226 ppb Pt + Pd[(2)]

• Mt Cornell Sill extends over 5km x 3km

• Three undrilled EM anomalies

• Up to 3.2% Cu and 8.2 g/t Au in rock chip sampling coincident with Anomaly 3[(1)]

• Strong Pt-in-soil anomalism (up to 27ppb) coincident with Anomaly 4[(2)]

• Au-Pt soil anomalism coincident with Anomaly 5

Copper workings – gossanous siliceous-ironstone

• Anomaly 6 – no previous soil sampling

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• Mt Cumming Sill extends over 5km x 1km

• One undrilled EM anomaly

• Coincident Au-Pt-Cr soil anomalies

• 2021 Exploration

• Ground EM to validate targets

• 8 -10 RC/DDH holes (3,000 – 4,000m)

• (1). Elmina NL;1995 -1998: Annual Technical Reports for the years ending 1995-1998 - WAMEX Open File Reports A051251+ A058034

(2). Helix Resources; 2000 - 2002: Jutson Rocks Annual Technical Reports for the years ending 2000 - 2002 – WAMEX Open File Reports A064707 + A064708 + A066357

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Airborne Versatile-Time Domain Electromagnetic Survey Image

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ASX : WML – March 2021

EXPLORATION TIMELINE – FY2021 & FY2022

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Phase #1 AC + RC (80x80m) Three Bears

Phase #2 (40m infill) RC + AC* Three Bears

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Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
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Heritage / Mapping / Ground EM Mt Cumming Complex

Au-PGE-Ni-Cu RC/DDH Mt Cumming Complex

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* contingent on results from Phase#1

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ASX : WML – March 2021

WOOMERA MINING LIMITED – INVESTMENT CASE

• Focussed on large, highly prospective land position

• World-class mineral province

• Investor-friendly mining jurisdiction

• Close to established infrastructure

• Targeting Au + PGE-Ni-Cu

• Multiple drill ready targets

• Under “New Management”

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ASX : WML – March 2021

THANK YOU

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ASX : WML – March 2021