Celsius Resources Limited — Investor Presentation 2023

Jun 20, 2023

Developing a world class, sustainable copper and cobalt supply

Non-Deal Roadshow Investor Presentation June 2023

==> picture [502 x 532] intentionally omitted <==

DISCLAIMER & NOTES

This presentation has been prepared by Celsius Resources Limited ("Celsius" or "CLA"). The information contained in this presentation is a professional opinion only and is given in good faith.

The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this disclaimer. The document, in whole or in part, is not to be distributed, copied or reproduced, in any form, without the prior written consent of the Directors of the Company.

Certain information in this presentation has been derived from third parties and though CLA has no reason to believe that it is not accurate, reliable, or complete, it has not been independently audited or verified by CLA.

Any forward-looking statements included in this presentation involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, CLA. In particular, they speak only to the date of this presentation, they assume the success of CLA's strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the assumptions on which these assumptions are based. Recipients of this presentation are cautioned not to place undue reliance on such forward-looking statements.

CLA makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any errors or omissions which may become apparent after this presentation is released.

To the extent permitted by law, CLA and its officers, employees, related bodies corporate and agents disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence ,default or lack of care of CLA and/or any of its agents) for any loss or damage suffered by a recipient or other persons arising out of , or in connection with, any use or reliance on this presentation or information. All amounts in AUD unless stated otherwise.

==> picture [805 x 23] intentionally omitted <==

2

DISCLAIMER & NOTES

The information in this presentation with respect to the Mineral Resource Estimate for the MCB Project was first announced by Celsius to ASX on 12 December 2022. Celsius confirms that it is not aware of any new information or data that materially affects the information included in the announcement dated 12 December 2022 and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

The information in this announcement with respect to the outcomes of the Scoping Study for the MCB Project was first released by Celsius to ASX on 1 December 2021. Celsius confirms that all material assumptions underpinning the production target and forecast financial information derived from the production target referred to in the announcement of 1 December 2021 continue to apply and have not materially changed.

The information in this presentation with respect to the Mineral Resource Estimate for the Sagay Project was first announced by Celsius to ASX on 7 November 2022. Celsius confirms that it is not aware of any new information or data that materially affects the information included in the announcement dated 7 November 2022 and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

The information is this presentation with respect to the Mineral Resource Estimate for the Opuwo Project was first announced by Celsius to ASX on 1 July 2021. Celsius confirms that it is not aware of any new information or data that materially affects the information included in the announcement dated 1 July 2021 and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

3

CELSIUS RESOURCES | Investment Case

• ❑ A mining exploration and development copper and gold mining company with a portfolio of world-class copper-gold assets.

• MCB Copper-Gold project in Northern Luzon, Philippines.

• Sagay Copper-Gold project in Northern Negros, Philippines

Flagship Asset | Maalinao-Caigutan Biyog (MCB)

  - Initial CAPEX US$253m

  - Payback period 2.67 years

  - Potential for 25-year mine life

  - Pre-tax NPV[(8%)  ] US$618m (~A$865m) at an IRR of 35%

  - ECC granted

• Opuwo Cobalt-Copper project in Namibia

• ❑ Strategically positioned to capitalise on a battery metals commodity supercycle.

• ❑ Highly experienced Board and Management team with a clearly defined strategy backed to deliver growth for shareholders in accordance with global ESG principles.

4

CELSIUS RESOURCES Environmental, Social and Governance

Our Vision

To become an environmentally sustainable producer of copper and gold via a number of operating mines in the Philippines, generating significant profits and dividends for shareholders whilst enhancing the wellbeing of all local communities in which we operate.

Our Mission

To create material value for shareholders through the efficient conversion of high-quality resources into profitable producing mines, in an environment that adheres to the strictest safety standards and sustainable environmental, social and governance principles.

==> picture [806 x 23] intentionally omitted <==

5

Highly Experienced Board & Management

ATTILENORE MANERO

==> picture [118 x 22] intentionally omitted <==

----- Start of picture text -----

JULITO SARMIENTO
Executive Chairman
----- End of picture text -----

An experienced Philippine lawyer with over 30 years specialising in mining, environment, social license, indigenous peoples, renewable energy, government relations and who has established close relationships with civil society, Church and local communities.

PETER HUME Managing Director Country Operations Director - Philippines

Over 40 years’ experience on major mining and construction development projects on lead roles throughout Australia, Philippines and internationally..

With demonstrated experience in general management, project management, construction management, dispute resolution, infrastructure, and process design, concept planning to commissioning and operations, as well as design management, development, and implementation of quality, safety, and maintenance management systems.

SIMON FARRELL Non-Executive Director

Involved in the resources industry for over 40 years. He commenced his career in 1976 at the Bougainville Copper mine . Post BCL he completed his MBA at Wharton and subsequently worked at a senior/Board level in a wide range of commodities and jurisdictions.

MICHAEL HULMES Non-Executive Director

A mining engineer with over 35 years experience, most of which was in underground copper and gold mine development and operations.

PINE VAN WYK Country Operations Director - Namibia

Metallurgical Engineer with extensive experience in developing and operating mines in Namibia...

Non-Executive Sustainability Director Corporate Affairs & Sustainability Director-Philippines

A development professional who specialises in social and environmental impacts management, with more than 13 years of substantial practical experience in managing a diverse team of local and international experts whilst carrying out studies leading to the development and implementation of social and environmental plans and programs consistent with local statutes and internationally accepted standards.

PAUL JAMES DUDLEY Non-Executive Director

A Fellow of the Institute of Chartered Accountants of England and Wales and a Member of the UK's Chartered Institute of Securities and Investments. He founded Aer Ventures (formerly HD Capital) in 2011 where he is Managing Partner, advising and leading corporate transactions on numerous public and private companies.

KELLIE DAVIS Corporate Secretary

Over 20 years of experience in accounting and secretarial ASX Compliance, predominantly in the exploration and resources sector beginning her career in Audit with Ernst and Young.

6

==> picture [960 x 74] intentionally omitted <==

MAALINAO CAIGUTAN BIYOG PROJECT Municipality of Pasil, Province of Kalinga,

Philippines

Maalinao-Caigutan Biyog (MCB) Copper-Gold Project - Flagship project

Key Features

• 320km north of Manila.

• In line with gov’t regulations, MCB is held by its Philippine subsidiary, Makilala Mining Company, Inc.

• Exploration Tenement covers c.2,500 hectares.

• First Exploration permit granted in 2006.

• The current permit is extended by the National Government until the issuance of the Mine Permit.

Geology and Mineralisation

• 55 diamond drill holes completed from 2006-2022 with a cumulative drilling distance of 30,487.50m at a total cost of A$30.9M.

• Resource drilling resulted in an updated JORC Mineral Resource Statement.

• This will feed into a revised mine plan and ore reserve which has been included in the Company’s Feasibility Study to the Phil. National Gov’t.

Figure 1. Project Location

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement dated 12 December 2022, AMC Consultants Pty Ltd Competent Person’s 2022 Report and CLA Reports
----- End of picture text -----

8

MCB | Outstanding Assay Results

• ❑ The 2021 drilling program was designed to improve the confidence of the existing Mineral Resource in addition to focusing on defining further higher-grade positions.

• ❑ Copper mineralisation starts at the surface and is now confirmed to depths of over 600m below surface.

• ❑ Assay results have all confirmed further extensions to the shallow high-grade mineralisation at MCB.

• ❑ Favorable results from the drilling campaign enhances confidence in the updated 2022 Mineral Resource.

• ❑ Drilling results will be utilized to improve the mine plan and produce early cash flow through the extraction of shallow mineralisation.

Information relating to Exploration Results and Mineral Resource Estimates is based on information compiled, reviewed, and assessed by Steve Olsen who is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.

Refer to ASX announcements on the drilling results dated 10 June 2021 (MCB-033), 28 July 2021 (MCB-034), 13 Dec 2021 (MCB036), 23 May 2022 (MCB-037), 04 July 2022 (MCB-038), 03 August 2022 (MCB-039), 19 October 2022 (MCB-040 & MCB-041), and 28 February 2023 (MCB-042 to MCB-044).

Hole ID	Total Depth	Depth From	Depth To	Length (m)	Cu (%)	Au (g/t)
MCB-033	730.60	17.00	636.00	619.00	0.41	0.08
	incl.	229.75	604.00	374.25	0.51	0.11
	incl.	305.00	392.85	87.85	1.24	0.36
	incl.	340.00	391.91	51.90	1.58	0.53
MCB-034	607.00	20.00	627.00	607.00	0.44	0.06
	incl.	28.00	94.00	66.00	0.53	0.03
	incl.	349.00	425.00	76.00	0.93	0.14
MCB-036	860.20	19.00	691.00	672.00	0.43	0.12
	incl.	26.50	150.00	123.50	0.92	0.24
	incl.	89.00	102.00	13.00	3.69	0.39
MCB-037	548.20	19.50	548.20	528.70	0.55	0.19
	incl.	19.50	35.00	15.50	1.02	0.07
	incl.	93.00	134.90	41.90	0.87	0.05
	incl.	359.90	510.00	150.10	0.86	0.47
MCB-038	643.90	32.50	643.90	611.40	1.39	0.75
	incl.	207.15	358.00	150.85	1.90	1.57
	incl.	391.55	626.00	234.45	1.90	0.87
	incl.	232.10	309.65	77.55	2.47	2.12
	incl.	574.46	623.84	49.38	2.46	1.33
MCB-039	409.30	18.00	111.00	93.00	0.59	0.05
	incl.	18.00	65.00	47.00	0.79	0.07
	incl.	349.10	356.60	7.40	0.65	0.41
MCB-040	433.80	30.00	191.00	162.00	0.58	0.02
	incl.	42.50	62.00	19.50	0.95	0.05
	incl.	114.00	124.00	10.00	1.17	0.04
	incl.	170.00	192.00	22.00	0.77	0.02
		339.00	351.00	12.00	1.22	0.06
MCB-041	131.00	19.50	30.00	10.50	0.69	0.07
	incl.	66.00	131.00	65.00	1.73	0.37
MCB-042	200.30	7.7	200.3	192.6	0.56	0.04
	incl.	7.7	59	51.3	0.93	0.06
MCB-043	155.70	9.0	110.5	101.5	0.90	0.18
MCB-044	142.10	11.0	142.1	131.1	0.93	0.23

9

MCB | Mineral Resource Estimate

❑ An updated JORC Mineral Resource Estimate was announced in December 2022, comprising:

Type	Classification	Tonnes (Mt)	Copper Grade (%)	Gold Grade (g/t)	Copper Metal (kt)	Gold Metal (kozs)
Weathered	Measured	2	0.59	0.07	11	4
	Indicated	7	0.56	0.09	41	22
	Inferred	0	0.38	0.12	0	0
Total		9	0.57	0.09	53	26
Fresh	Measured	45	0.59	0.19	263	277
	Indicated	242	0.43	0.11	1044	883
	Inferred	42	0.52	0.11	218	153
Total		328	0.46	0.12	1525	1313
Combined	Measured	47	0.59	0.19	275	282
	Indicated	249	0.44	0.11	1085	904
	Inferred	42	0.52	0.11	219	154
Total		338	0.47	0.12	1578	1340

Note: Estimates have been rounded to the nearest MT of ore, two significant figures for Cu and Au grade, and to the nearest kt of Cu metal and kozs of Au metal. Some errors may occur due to rounding.

• ❑ Global Mineral Resource of 338Mt @0.47% copper and 0.12g/t gold (0.2% Cu cut-off).

• ❑ Total Resource includes approximately 1.6Mt of contained copper and approx. 1.3Moz of gold.

==> picture [379 x 369] intentionally omitted <==

Section 1 with the interpreted host rock geology relative to the defined copper mineralised domains.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to the ASX announcement dated 12 December 2022 for the Updated JORC Mineral Resource Statement prepared by Steve Olsen (MAusIMM, AIG)
----- End of picture text -----

10

MCB | Project Design

• Estimated initial capital investment is US$253M which excludes initial operating capital.

• Designed to be developed and operated through a sublevel open stoping mining method with backfilling and dry stacking method to enable a primary-secondary extraction sequence.

• This allows for higher resource recovery and mining productivity, reducing tailings deposit requirements, and maximising strength relative to cement content.

• This will remove the possibility of environmental impacts of a conventional tailings dam.

• Excess filtered tailings will be utilised as backfilling for flood control measures, community livelihood projects, and road construction.

• Planned ore production rate is at 2.28Mtpa or ~ 49Mt of material over a mine life of 25 years , with an ability to increase capacity to 4.5mtpa following initial development.

==> picture [289 x 289] intentionally omitted <==

----- Start of picture text -----

MCB Underground Mine Layout
----- End of picture text -----

• Process plant design is based on a single processing train configuration with a maximum capacity ore feed rate of 2.4Mtpa (nominal 2.28Mtpa) to produce bulk copper-gold concentrate.

11

MCB | Positive Study Results

Key Inputs

• Optimised mine plan focused on the high-grade Cu-Au portion of the MRE, equating to 49mt at 0.85% Cu and 0.41 g/t Au, 100% of which was classified as Indicated resources.

• Underground sub-level open stoping mining method.

• Marketing study indicates high marketability for MCB .

• clean copper concentrate

Base case

Pre-tax NPV[(8%) ] US$618m (~A$865m) at an IRR of 35% assuming US$4/lb Cu & US$1,695/oz Au Post-tax NPV[(8%)]

US$464m (~A$650m) at an IRR of 31% assuming US$4/lb Cu

& US$1,695/oz Au

Initial CAPEX

US$253m LOM C1 cash cost US$1.29/lb Cu, net of Au credits

Payback period Metallurgical 2.67 years test work recoveries Potential for 25-year mine life 94% Cu and 79% Au

Years 1 to 10 production 90ktpa of concentrate containing 22ktpa Cu and 27k oz/pa Au Quoted resources utilising a 0.5% Cu lower cut-off grade

Years 1-10 C1 cash cost average

US$0.73/ lb Cu

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement on the Scoping Study Results dated 01 December 2021, 12 December 2022, and Slide 9 for technical and financial consultants
----- End of picture text -----

12

MCB | Government Approvals and Permitting

Key Technical Requirements	Submission & Approvals
Declaration of Mining Project Feasibility Approval
▪ Environmental Compliance Certificate	☑
o Environmental Impact Statement	☑
▪ Mining Project Feasibility Study	☑
▪ Care and Maintenance Program	☑
▪ Environmental Protection and Enhancement Program	☑
▪ Final Mine Rehabilitation and Decommissioning Plan	☑
▪ Social Development and Management Program	☑
Mineral Production Sharing Agreement Approval
▪ MPSA Application	☑
▪ Three-Year Development/Work Utilisation Program	☑
▪ Free Prior and Informed Consent Memorandum of Agreement	☑

This project has significant potential; we will endorse it as a priority project to fast-track government approvals.

MMCI Team with MGB Regional Director and Mining Tenements Chief

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement dated 15 November 2022 and 31 May 2023
----- End of picture text -----

13

MCB | Agreement with Local Partner

• ❑ Celsius signed a Binding Deed and Agreement on 17 March 2023 with Sodor, Inc. and the PMR Group for the development of the MCB Project.

• ❑ Our local partners share the same commitment to developing the mine project in a sustainable and transformative manner.

❑ This partnership undertaking satisfies the requirement for securing a Mineral Production Sharing Agreement (MPSA) with the Philippine Government.

❑ The agreement involves a funding commitment of US$43m to apply towards financing the MCB Project construction.

❑ This agreement ensures MMCI’s full compliance with the 60-40 nationality requirement under MPSA guidelines; with the view that Sodor Inc. and the PMR Group will have a 30% economic share in the mining and milling operations.

Ceremonial signing of Initial Binding Deed and Agreement

14

==> picture [960 x 74] intentionally omitted <==

----- Start of picture text -----

MCB | Proposed Timeline
----- End of picture text -----

2006-2016 EXPLORATION

Selecting exploration targets, mapping, Geochem, surface sampling, drilling

2021

2022

==> picture [41 x 14] intentionally omitted <==

----- Start of picture text -----

2023
----- End of picture text -----

==> picture [41 x 14] intentionally omitted <==

----- Start of picture text -----

2024
----- End of picture text -----

==> picture [842 x 316] intentionally omitted <==

----- Start of picture text -----

PRELIMINARY TECHNICAL STUDY Diamond drilling, technical studies, metallurgical sampling
MINE FEASIBILITY STUDY FPIC ECC EPEP/FMRDP LGU Endorsement SDMP 3YWD/UP
DMPF APPROVAL
MINERAL PRODUCTION SHARING
AGREEMENT
PRE-DEVELOPMENT PERMITTING
WATER PERMIT TREE CUTTING PERMIT CONSTRUCTION PERMITS EARLY WORKS
----- End of picture text -----

START OF CONSTRUCTION

==> picture [41 x 14] intentionally omitted <==

----- Start of picture text -----

2025
----- End of picture text -----

START OF COMMERCIAL PRODUCTION

15

==> picture [960 x 74] intentionally omitted <==

BOTILAO PORPHYRY COPPER GOLD PROSPECT Municipality of Pasil, Province of Kalinga PHILIPPINES

Botilao Porphyry Copper-Gold Prospect

• ❑ Botilao tenement is located in the Cordillera Administrative Region in the Philippines, ~320km north of Manila.

• ❑ It is a prospect within the Makilala portfolio with an approximate area of 947 hectares, southwest of the MCB Project.

• ❑ Exploration permit pending approval.

• ❑ The initial two-year exploration program aims to define the extent and distribution of the observed mineralisation along Botilao Creek.

• ❑ Exploration activities will consist of regional to semi-detailed geochemical sampling and mapping to generate future targets for possible geophysical surveys and eventual diamond drilling activities.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX announcement dated 20 June 2023
----- End of picture text -----

17

Botilao Porphyry Copper-Gold Prospect

• ❑ Drilling was previously conducted by Lepanto Exploration Asia in the '70s which determined the presence of copper-gold mineralisation in the area.

• ❑ Botilao is along the same northeast structure which is a major control of the porphyry Cu-Au mineralisation in the MCB Project that will provide the initial working model for the Botilao Prospect.

• ❑ Mapping of different rock types or lithologies in the area will be conducted to characterise and delineate mineralised or altered zones.

• ❑ Detailed mapping will focus on identified mineralised outcrops to ensure proper understanding of the classification and controls of mineralisation during exploration phase.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX announcement dated 20 June 2023
----- End of picture text -----

18

==> picture [960 x 74] intentionally omitted <==

SAGAY COPPER GOLD PROJECT

Philippines

Sagay Copper-Gold Project

 Sagay Copper-Gold Project is held by Tambuli Mining Company, Inc., a Philippine subsidiary of Celsius Resources, Ltd. with a tenement area of 4,584 hectares.

• Exploration commenced in 2008, including:

• geological mapping

• gridlines preparations

• soil and rock sampling

• geophysical surveys consisting of induced polarisation, resistivity, and ground magnetics.

• 35 drill holes completed from 2012 to 2022 with a cumulative drilling distance of 27,427.30m. Total cost of ~AUD$11.1M.

• Sagay Project hosts a large-scale porphyry copper-gold mineralisation.

==> picture [329 x 441] intentionally omitted <==

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX announcement dated 23 June 2022 and 7 November 2022
----- End of picture text -----

20

Sagay | Maiden Mineral Resource Estimate

• ❑ A maiden JORC-compliant Indicated and Inferred Mineral Resource of 302 million tonnes @ 0.41% copper and 0.11g/t gold.

• ❑ MRE defined by 32 diamond drill holes in Nabiga-a Hill which are broadly spaced and have shown copper mineralisation over an extended area from the surface down to 1.2 km in depth.

• ❑ Copper mineralisation is open in all directions in addition to further drill intersections which are not yet included in the MRE due to limited drilling information.

• ❑ There is potential for internal higher-grade sections which is indicated in drill holes completed to date.

Table 1. Nabiga-a Mineral Resource

Domain	Classification	Tonnes (Mt)	Copper Grade (%)	Gold Grade (g/t)	Copper Metal (kt)	Gold Metal (koz)
Total	Indicated	15	0.45	0.11	68	53
	Inferred	287	0.41	0.11	1,175	993
Total		302	0.41	0.11	1,244	1,046

Information relating to Exploration Results and Mineral Resource Estimates for the Sagay Project is based on information compiled, reviewed and assessed by Steve Olsen, a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement dated 18 February, 11 July, and 7 November 2022 and AMC Consultants Pty Ltd Competent Person’s 2022 Report
----- End of picture text -----

21

Sagay | Development Approach

• The definition of large-scale copper mineralisation will enable CLA to consider lower cost bulk mining methods as part of the next phase of studies.

• Sagay project can be developed in a Phased Approach:

• Phase 1: Developing the shallow chalcocite zone (900SG) with a low CAPEX model, small-scale operation.

• Phase 2: Developing the large-scale copper mineralisation at deeper levels using the cashflow from Phase 1.

• The preliminary metallurgical test work commenced in June 2023 using the fresh samples collected from the chalcocite zone. The test work aims to determine whether the copper mineralisation at a 900SG is amenable to VAT leaching.

• Positive metallurgy test work results will trigger additional shallow resource drilling to support the mining study, mineral resource conversion to reserve, and metallurgical test work optimisation.

• Preparations of key technical, environmental, and social studies are underway leading to a Declaration of Mining Project Feasibility, which will trigger the application and approval of a mining permit in 2024.

22

==> picture [515 x 474] intentionally omitted <==

PROJECT Northern Namibia, Southern Africa

Opuwo Cobalt-Copper Project

• ❑ Celsius’ subsidiary held under Opuwo Cobalt Holdings (Pty) Ltd. Celsius has 95% ownership of the Opuwo Project while the remaining 5% is owned by a local company, Namibian Former Robin Island Political Prisoners Trust, in line with Namibian gov’t regulations.

• ❑ Located 730km north-west of the capital, Windhoek. A mining-friendly, politically stable, and safe location with excellent infrastructure and ample access to grid power, water, and services.

• ❑ . Exclusive Prospecting Licences covering c.719 km[2]

• ❑ Well-positioned to take advantage of increasing cobalt demand, a key element in the production of lithium-ion batteries used in electric vehicles and home battery storage.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement dated 7 February 2022, and AMC Consultants Pty Ltd Competent Person’s 2022 Report
----- End of picture text -----

24

Opuwo | Key Features

• ❑ The Opuwo deposit is a mineralised body with a minimum strike length of 25 km, out of which only 13 km has been drilled.

• ❑ +95% of the Mineral Resource is comprised of fresh sulphide ore with over 80% in an Indicated category based on the JORC resource estimate.

• ❑ Mineralised zones are open in all directions with excellent scope for expansion with further drilling.

==> picture [546 x 240] intentionally omitted <==

----- Start of picture text -----

EPL4540
Co-Cu-Zn (DOF)
EPL4346
----- End of picture text -----

Information relating to Exploration Results and Mineral Resource Estimates is based on the information, compiled, reviewed and assessed by Dr. Rainer Ellmies for the Opuwo Project who is a Member of the Australasian Institute of Mining and Metallurgy.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement dated 16 April 2018, 17 August 2022, and AMC Consultants Pty Ltd Competent Person’s 2022 Report
----- End of picture text -----

25

Opuwo | Mineral Resource Estimate

 Upgraded JORC Compliant Resource estimate comprising 225.5 Mt at 0.12% Co, 0.43% Cu and 0.54% Zn.

 The Minerals Resource estimate represents contained 259,000 tonnes of contained Co, and 970,000 tonnes of contained Cu, and consists of:

 Indicated: 45.3 Mt at 0.11% Co, 0.44% Cu and 0.51% Zn.

 Inferred: 180.2 Mt at 0.12% Co, 0.43% Cu and 0.55% Zn.

Opuwo Mineral Resource Estimate, by classification, 1 July 2021

Category		Mining Method	Cut-off (Co eq%)	Tonnage (MT)	Cobalt (%)	Copper (%)	Zinc (%)	Combined Cobalt (kt)
Indicated		Open Pit	0.06	38	0.11	0.45	0.51	41
		Underground	0.155	7	0.11	0.41	0.49	8
		Total Indicated		45	0.11	0.44	0.51	48
Inferred		Open Pit	0.06	29	0.09	0.38	0.44	27
		Underground	0.155	151	0.12	0.44	0.57	183
		Total Inferred		180	0.12	0.43	0.55	211
	Total			225	0.12	0.43	0.54	259

Information relating to Exploration Results and Mineral Resource Estimates for the Opuwo Project is based on the information, compiled, reviewed and assessed by Dr. Rainer Ellmies who is a Member of the Australasian Institute of Mining and Metallurgy.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement dated 1 July 2021 and AMC Consultants Pty Ltd Competent Person’s 2022 Report
----- End of picture text -----

26

Opuwo | Updates

• ❑ 9 diamond drill holes with a total of 1,089m for future metallurgical optimisation work which is underway.

• ❑ Drilling confirmed the trend along the strike-length of the modelled ore body, reinforcing the consistent nature of the Opuwo Cobalt Deposit mineralisation.

==> picture [413 x 267] intentionally omitted <==

• ❑ Preliminary roasting and tank leach test work results (from bulk samples) show encouraging results of 95% cobalt and 98% copper recovery which demonstrates that the Opuwo Ore is amenable for Roasting & Tank Leach downstream processing method.

• ❑ Ongoing metallurgical test work to further refine the cobalt and copper recoveries is on going to feed into the engineering design criteria.

• ❑ Further mining optimisation work is currently underway to update the 2018 Scoping Study and reduce cost to support future Feasibility Studies.

• ❑ The Company has lodged the necessary documentation to have the permits renewed by the Ministry of Mines with a favorable response.

27

Opuwo | Development Approach

• ❑ Economic Scoping Study planned later in 2023.

• ❑ Assessing ways of improving project viability given recent increases in the cobalt and copper prices.

• ❑ Further test works being undertaken to delineate the roasting and tank leach parameters which may further improve cobalt recovery and continuing test work for a hydrometallurgical downstream processing method.

• ❑ Mining optimisation work is currently underway to update the 2018 Scoping Study to reduce cost to support future Feasibility Studies.

• ❑ Priority is to review the project and to understand how best to unlock potential value.

==> picture [806 x 23] intentionally omitted <==

28

==> picture [960 x 74] intentionally omitted <==

----- Start of picture text -----

Investment Summary
----- End of picture text -----

Highly experienced Board

and Management team with in-country project development experience and demonstrated capital funding.

Generating and exploring

a Pipeline of near-term producing copper-gold and Cobalt projects while prioritising the development of the MCB project.

MCB Copper-Gold Project

Sagay Copper-Gold Project

Opuwo Cobalt-Copper Project

• Initial CAPEX US$253m

• Payback period 2.67 years

• Potentia for 25-year mine lifeMBC Flagship Project

• Pre-tax NPV[(8%) ] US$618m (~A$865m) at an IRR of 35%

• ECC granted

• Extensive funding interest

• Preparations of key technical, environmental, and social studies underway

• JORC-compliant Indicated and Inferred Mineral Resource of 302 million tonnes @ 0.41% copper and 0.11g/t gold.

• Two stage development program

• Exclusive Prospecting Licences covering c.719 km[2] .

• Positioned to take advantage of increasing cobalt demand.

• Upgraded resource comprising 225.5 Mt at 0.12% Co, 0.43% Cu and 0.54% Zn.*

29

Appendices

MCB | Mine Plan MCB | Support Infrastructure MCB | Strong Government and Social Acceptability MCB | Copper | A globally significant battery metals opportunity

30

==> picture [960 x 74] intentionally omitted <==

----- Start of picture text -----

MCB | Mine Plan
----- End of picture text -----

==> picture [480 x 361] intentionally omitted <==

Note: A video on the 3D Representation of the MCB Deposit and Mine Plan can be viewed at the CLA website.

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Prepared by Steve Olsen (MAusIMM, AIG), https://celsiusresources.com/celsius-releases-3d-model-of-mcb-resource/
----- End of picture text -----

31

MCB | Support Infrastructure

• Access Road to port will require a new road opening and a road upgrade to allow transport of oversized cargo.

• Concentrate production will be transported and stored in a port laydown area using one of the nearest port locations.

• Power sourced from existing national grid supply lines.

• Alternative power sources may be accessible in the future when various renewable energy projects become operational.

• Actual development footprint is 31.83 hectares (1.17% of the total Tenement area).

==> picture [446 x 315] intentionally omitted <==

• Additional area allocated for environmental protection and enhancement activities (i.e., flood control, tree planting, etc.).

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to ASX Announcement on the Scoping Study Results dated 01 December 2021 and Slide 9 for technical and financial consultants
----- End of picture text -----

32

MCB | Strong Government and Social Acceptability

• ❑ Philippine Government to ramp up the mining industry as a key economic driver and source of longterm economic growth.

• ❑ Mines and Geosciences Bureau (MGB) awarded the MCB project priority status to fast-track project approvals.

• ❑ Social Licenses to Operate obtained from the host community through a Free, Prior and Informed Consent process as well as local government endorsements for the project.

MMCI President with the Balatoc Council of Elders, Local Government, and NCIP Officials during the FPIC MOA Signing

MMCI Team with then MGB Director Moncano

==> picture [806 x 23] intentionally omitted <==

----- Start of picture text -----

Refer to the ASX announcement dated 24 February and 15 November 2022
----- End of picture text -----

33

Copper | A globally significant battery metals opportunity

• ❑ Battery metals, including copper and cobalt, will play a critical role in the 21[st] century global economy towards a low carbon future.

• ❑ Sustainable and reliable production of battery metals will be needed to meet the growing demand.

• ❑ Driven by the global industrial transition to Green Technology, Celsius Resources is perfectly placed to capitalise on growing investor interest in battery metals and surging market growth.

• ❑ With the growing demand and looming battery metals supply shortage, Celsius can play a pivotal role in shifting the demand-supply imbalance with the development of the MCB Copper-Gold and the Opuwo Cobalt-Copper Projects.

34

==> picture [960 x 74] intentionally omitted <==

==> picture [496 x 198] intentionally omitted <==

+61 2 8072 1400 info@celsiusresources.com.au celsiusresources.com