CODA MINERALS LTD — Investor Presentation 2021

Nov 18, 2021

ASX: COD

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Coda Minerals - Sustaining Tomorrow
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15

Disclaimer

Important Notices

Nature of this document: The purpose of this presentation is to provide general information about Coda Minerals Limited (ACN 625 763 957) (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates as at the date of this presentation. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions.

Not an offer or advertisement: This presentation is for information purposes and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by an person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any jurisdiction. In particular, this presentation may not be distributed or released, directly or indirectly, in the United States. This presentation does not constitute an advertisement for an offer or proposed offer of shares. Neither this presentation nor anything contained in it forms the basis of any contract or commitment and it is not intended to induce or solicit any person to enter into, or refrain from entering into, any contract or commitment.

Not financial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s shareholders or potential investors. You may wish to seek independent financial and taxation advice before making any decisions in respect to this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial advice in respect of the Company’s securities or any other financial products.

Forward-looking statements: Certain statements in the presentation are or may be perceived as “forward looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. You are cautioned not to place undue reliance on any forward looking statement. These forward looking statements are based on current expectations at the date of this publication. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance and results in future periods to differ materially from any express or implied estimates or projections.

Disclaimer: No representation or warrant, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers, agents and contractors expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this presentation, and excludes all liability whatsoever (including negligence) for any loss or damage which may be suffered by any persons as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company.

Photographs used on page 1 , 26, 32 and 34 were provided by Adam Mørk Architectural Photography via http://adammork.dk/.

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Rare Investment O ortunit pp y

STRONG FOUNDATIONS

• Existing Indicated Resources (MG14 & Windabout),

• Materially Extensive Exploration Target (Emmie Bluff)

• Verified IOCG Potential (Emmie Bluff Deeps)

NEAR TERM GROWTH

Ambitious drill campaign to test Emmie Bluff Deeps

Mineral Resource estimate underway at Emmie Bluff

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CAMERON RIVER
ELIZABETH CREEK
OLYMPIC DAM OAK DAM WEST
114KM NNW 16KM NE
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EMMIE BLUFF FLAGSHIP ZAMBIAN STYLE

EMMIE BLUFF DEEPS FLAGSHIP IOCG PROSPECT

WINDABOUT 250,000T CuEq CARRAPATEENA MG14 NORTH 40KM EAST ZAMBIAN STYLE MG14 ELAINE 30,000T CuEq

ELAINE IOCG PROSPECT CATTLEGRID SOUTH CU BRECCIA PROSPECT

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POWERLINE ZAMBIAN STYLE ELIZABETH CREEK Total Area: 701 km[2]

1Coda has the right to earn up to 75% interest in the Elizabeth Creek assets. Current ownership 70% Coda (ASX:COD), 30% Torrens (ASX:TRN). See Appendix D for more details.

2Coda has the right to earn up to 80% interest in the Cameron River assets.

TIER 1 LOCATIONS

Elizabeth Creek[1] ; Olympic IOCG Copper Province Cameron River[2] ; Mount Isa Inlier

DEMONSTRATED DISCOVERY POTENTIAL

Recent drill success validates exploration strategy in the Olympic IOCG Corridor

STRATEGIC FOCUS

Discovering and proving up copper resources, an essential metal for a low carbon future

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17 Coda Minerals - Sustaining Tomorrow

Cor orate Structure p

TOP 20 SHAREHOLDERS (as of 16[th] November 2021)

Rank Shareholder %IC	Rank Shareholder %IC
1 ANGANG GROUP HONG KONG (HOLDINGS) LIMITED 12.17
2 CITICORP NOMINEES PTY LTD 10.45
3 MR KEITH FRANCIS JONES & MRS JENNIFER JONES 7.27
4 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 5.72
5 CS THIRD NOMINEES PTY LIMITED 4.36
6 SUNSET CAPITAL MANAGEMENT PTY LTD 4.17
7 UBS NOMINEES PTY LTD 3.96
8 LUJETA PTY LTD 3.24
9 MS LINLIN LI 1.92
10 COSSACK HOLDINGS (AUS) PTY LTD 1.84
11 LUJAMA PTY LTD 1.53
12 MR PAUL DUNCAN HALLAM & MRS CHRISTINE JOY HALLAM 1.28
13 NO BULL HEALTH PTY LTD 1.11
14 GOLDNEY PTY LTD 1.02
15 PATHWAYS CORP INVESTMENTS PTY LTD 1.02
16 ONE MANAGED INVESTMENT FUNDS LIMITED 0.82
17 MRS ADRI SWIEGERS 0.80
18 INVIA CUSTODIAN PTY LIMITED 0.77
19 MARVEL VENTURE LIMITED 0.65
20 MR ANDREW RHYS JACKSON 0.59
Total 64.71%
18	Coda Minerals - Sustaining Tomorrow

CURRENT CAPITAL STRUCTURE & SHARE PRICE

ASX Code	COD
Share Price[18/11/2021]	$0.83
Ordinary Shares(including escrow)	97,767,184
Options on Issue(exercise price $0.2145)	6,000,000
Market Capitalisation	$81M
Top 20 Shareholders	65%
Cash and Equivalents[as of 30thSeptember 2021]	$17.8M

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Board of Directors & Senior Mana ement g

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Keith Jones

NON-EXECUTIVE DIRECTOR

Chartered Accountant and senior mining industry leader with over 40 years of corporate advisory experience including former Chairman of Deloitte Australia and former Chairman of Cannings Purple. Currently Non-Executive Director of Ora Banda Mining.

Colin Moorhead

NON-EXECUTIVE DIRECTOR

Highly experienced exploration and mine geologist, past president of the AusIMM, former member JORC Committee. Senior roles including CEO PT Merdeka Copper Gold Tbk, EGM Minerals at Newcrest Mining Ltd, and Geology Manager at Gosowong Gold. Currently NED at Aeris Resources, Xanadu, and Sihayo Gold.

Robin Marshall

NON-EXECUTIVE DIRECTOR

Experienced mining executive previously involved in managing the successful delivery of some of the world’s largest resource projects, including Chairman of the Gruyere Steering Committee, major iron ore projects for BHP Billiton Iron Ore and North Ltd.

Paul Hallam

NON-EXECUTIVE DIRECTOR

Accomplished resource industry leader who has been directly responsible for the delivery and operation of 11 gold, base metals, and iron ore projects over 40 years. Former executive at FMG, Newcrest and current NED of Sandfire Resources and Greatland Gold.

Chris Stevens

CHIEF EXECUTIVE OFFICER, DIRECTOR

Mineral economist, feasibility and project valuation specialist. Former CEO of Gindalbie Metals, led the acquisition and demerger in 2019. Former Director of Mining Operations Consulting at PwC, senior commercial and consulting roles across mining, oil and gas. BA (Hons) Oxford University, MSc in Mineral Economics (WASM), FAusIMM.

Kudzai Mtsambiwa CHIEF FINANCIAL OFFICER

Chartered Accountant with 14 years’ experience in the international resources sector. Lengthy career with West African-focused, Perseus Mining – where he held the roles of Group Planning & Business Analyst and Group Financial Controller for seven years. MSc in Mineral Economics (WASM).

Susan Park

COMPANY SECRETARY

Over 23 years’ experience in the corporate finance industry and extensive experience in Company Secretarial and Non-Executive Director roles with ASX, AIM and TSX listed companies. Susan is currently Company Secretary of several ASX listed companies.

Matt Weber

MANAGER - GEOLOGY

Exploration geologist and mineral economist with over a decade’s exploration experience working with Rio Tinto and multiple exploration companies across Western Australia focussing on gold, iron ore and base metals. MSc in Mineral Economics (WASM).

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Coda Minerals - Sustaining Tomorrow

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EMMIE BLUFF DEEPS

Proximal historical IOCG mineralisation intersected. Aggressive multi-rig program to test IOCG mineralisation.

EMMIE BLUFF

Resource estimation currently underway, Inferred Resource estimated Q4 2021.

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ELIZABETH CREEK
Total Area: 701 km [2]
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ELAINE

IOCG prospect backed by geophysics and recent success at Emmie Bluff Deeps.

MG14 NORTH

Near-term potential to expand existing MG14 Indicated Resource.

WINDABOUT – JORC 2012 INDICATED

CATTLEGRID SOUTH

2012 JORC Compliant Mineral Resource 17.67 MT @ 0.77% Cu, 0.05% Co, 8 g/t Ag, 249,000 T Contained Cu Eq.

Extensive historical drilling, rapid pathway to Resource.

MG14 - JORC 2012 INDICATED

POWERLINE

2012 JORC Compliant Mineral Resource 1.83 MT @ 1.24%Cu, 0.03% Co, 14 g/t Ag, 31,000 T Contained Cu Eq.

Coda Minerals - Sustaining Tomorrow

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IOCG TARGETS
ZAMBIAN STYLE TARGETS
CATTLEGRID STYLE TARGETS
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Shallow Zambian style target, to be drilled in Q4 2021.

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Elizabeth Creek - IOCG

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Drillin IOCG Tar ets in Ele hant Countr g g p y

EMMIE BLUFF DEEPS

Recently drilled extensive IOCG alteration encountered. Target defined by a series of coincident and semi-coincident gravity and magnetic anomalies.

ELAINE

Coinciding geophysical anomalism, comparable to other large IOCG systems in the Eastern Gawler Craton.

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Olympic Dam
Oak Dam West
114km NNW
16km NE
Emmie Bluff
Emmie Bluff Deeps
Chianti North
Carrapateena
40km E
Elizabeth North
Chianti
Hannibal
Windabout NE
Windabout
Elaine Zone
MG14 North
MG14
Powerline
SA Government IOCG Prospectivity
Modelling: Eastern Gawler Craton
Zambian Style Sediment
IOCG Target
Hosted Resource/Prospect
Existing Resources
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Coda Minerals - Sustaining Tomorrow

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HoleID	Mineralisation	Est. Width		Best Assay Results*	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m 28m 2.5m	@ @ @	1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m 17m	@ @	1.76% Cu, 1.09 g/t Au from 820.56m 1.18%Cu,0.31g/t Au from 824.07

MGD 55

SAE 3

ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

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23 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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HoleID	Mineralisation	Est. Width	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m @ 28m @ 2.5m @ 1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m @ 17m @ 1.76% Cu, 1.09 g/t Au from 820.56m 1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2	BORNITE DOMINATED	24m	24m @2.17% Cu, 0.29 g/t Au from 815m
DD21EB0018W2	BORNITE DOMINATED	13m	13m @3.46% Cu,0.64g/t Au from 902.15m

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ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

24 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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HoleID	Mineralisation	Est. Width	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m @ 28m @ 2.5m @ 1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m @ 17m @ 1.76% Cu, 1.09 g/t Au from 820.56m 1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2	BORNITE DOMINATED	24m	24m @2.17% Cu, 0.29 g/t Au from 815m
DD21EB0018W2	BORNITE DOMINATED	13m	13m @3.46% Cu, 0.64 g/t Au from 902.15m
DD21EBD0002	PYRITE/CHALCOPYRITE DOMINATED	55m	Assays Pending
DD21EBD0003	BORNITE DOMINATED	20m	Assays Pending

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ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

25 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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HoleID	Mineralisation	Est. Width	Best Assay Results*	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m @ 28m @ 2.5m @	1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m @ 17m @	1.76% Cu, 1.09 g/t Au from 820.56m 1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2	BORNITE DOMINATED	24m	24m @2.17% Cu, 0.29 g/t Au from 815m
DD21EB0018W2	BORNITE DOMINATED	13m	13m @3.46% Cu, 0.64 g/t Au from 902.15m
DD21EBD0002	PYRITE/CHALCOPYRITE DOMINATED	55m		Assays Pending
DD21EBD0002W1	CHALCOPYRITE DOMINATED	27m		Assays Pending
DD21EBD0003	BORNITE DOMINATED	20m		Assays Pending
DD21EBD0003W1	CHALCOPYRITE DOMINATED	50m		Assays Pending

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ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

26 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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HoleID	Mineralisation	Est. Width	Best Assay Results*	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m @ 28m @ 2.5m @	1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m @ 17m @	1.76% Cu, 1.09 g/t Au from 820.56m 1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2	BORNITE DOMINATED	24m	24m @2.17% Cu, 0.29 g/t Au from 815m
DD21EB0018W2	BORNITE DOMINATED	13m	13m @3.46% Cu, 0.64 g/t Au from 902.15m
DD21EBD0002	PYRITE/CHALCOPYRITE DOMINATED	55m		Assays Pending
DD21EBD0002W1	CHALCOPYRITE DOMINATED	27m		Assays Pending
DD21EBD0002W2	ANNOUNCEMENT PENDING			Assays Pending
DD21EBD0003	BORNITE DOMINATED	20m		Assays Pending
DD21EBD0003W1	CHALCOPYRITE DOMINATED	50m		Assays Pending
DD21EBD0003W2	BORNITE DOMINATED	27m		Assays Pending
DD21EBD0003W2	CHALCOPYRITE DOMINATED	40m		Assays Pending

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ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

27 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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HoleID	Mineralisation	Est. Width	Best Assay Results*	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m @ 28m @ 2.5m @	1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m @ 17m @	1.76% Cu, 1.09 g/t Au from 820.56m 1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2	BORNITE DOMINATED	24m	24m @2.17% Cu, 0.29 g/t Au from 815m
DD21EB0018W2	BORNITE DOMINATED	13m	13m @3.46% Cu, 0.64 g/t Au from 902.15m
DD21EBD0002	PYRITE/CHALCOPYRITE DOMINATED	55m		Assays Pending
DD21EBD0002W1	CHALCOPYRITE DOMINATED	27m		Assays Pending
DD21EBD0002W2	ANNOUNCEMENT PENDING			Assays Pending
DD21EBD0002W3	ANNOUNCEMENT PENDING			Assays Pending
DD21EBD0002W4				Drilling Ongoing
DD21EBD0003	BORNITE DOMINATED	20m		Assays Pending
DD21EBD0003W1	CHALCOPYRITE DOMINATED	50m		Assays Pending
DD21EBD0003W2	BORNITE DOMINATED	27m		Assays Pending
DD21EBD0003W2	CHALCOPYRITE DOMINATED	40m		Assays Pending
DD21EBD0003W3				Drilling Ongoing

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ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

28 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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16m @ 0.64% Cu and 0.2 g/t Au from 860m
36m at 0.71% Cu and 0.2 g/t Au from 884m
8m @ 1.96% Cu and 0.43 g/t Au from 974m
3m at 0.6% Cu and 0.06 g/t Au from 986m
13m @ 0.93% Cu and 0.04 g/t Au from 888m
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HoleID	Mineralisation	Est. Width	Best Assay Results*	Best Assay Results*
DD21EB0018	CHALCOPYRITE DOMINATED	45m	4.5m @ 28m @ 2.5m @	1.01% Cu, 0.17g/t Au from 797.45m 1.21% Cu, 0.37g/t Au from 810.79m 2.11% Cu, 0.30g/t Au from 842.03m
DD21EB0018W1	CHALCOPYRITE DOMINATED	20m	2m @ 17m @	1.76% Cu, 1.09 g/t Au from 820.56m 1.18% Cu, 0.31 g/t Au from 824.07
DD21EB0018W2	BORNITE DOMINATED	24m	24m @2.17% Cu, 0.29 g/t Au from 815m
DD21EB0018W2	BORNITE DOMINATED	13m	13m @3.46% Cu, 0.64 g/t Au from 902.15m
DD21EBD0002	PYRITE/CHALCOPYRITE DOMINATED	55m		Assays Pending
DD21EBD0002W1	CHALCOPYRITE DOMINATED	27m		Assays Pending
DD21EBD0002W2	ANNOUNCEMENT PENDING			Assays Pending
DD21EBD0002W3	ANNOUNCEMENT PENDING			Assays Pending
DD21EBD0002W4				Drilling Ongoing
DD21EBD0003	BORNITE DOMINATED	20m		Assays Pending
DD21EBD0003W1	CHALCOPYRITE DOMINATED	50m		Assays Pending
DD21EBD0003W2	BORNITE DOMINATED	27m		Assays Pending
DD21EBD0003W2	CHALCOPYRITE DOMINATED	40m		Assays Pending
DD21EBD0003W3				Drilling Ongoing

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ONGOING DRILLING Drilling commenced in May 2021 and drill rigs have been in continuous operation ever since. Drilling is expected to continue into the new year.

29 Coda Minerals - Sustaining Tomorrow Widths have been rounded for simplicity, please see ASX releases on 28 July 2021 and 23 August 2021 for full details and Table 1

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Coda Minerals - Sustaining Tomorrow

Elizabeth Creek - Zambian Style Copper Cobalt

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Emmie Bluff Resource Estimation

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EMMIE BLUFF DEEPS
LOOKING NORTHWEST
IOCG Area of Interest
Emmie Bluff Deeps
DD21EB0002A
Upper Lode: 3.12m from 393.66 @ 2.1% CuEq DD21EB0012
Upper Lode: 2.24m from 497.11m @ 3.19% CuEq
SAE 6 DD21EB0013
Upper Lode: 6m from 386m @ 1.49% Cu Upper Lode: 3m from 400.47m @ 4.71% CuEq
250 500 750 1,000
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LATERAL EXTENT CONFIRMED Exploration Target’s scale (>4.5km[2] of lateral extent) has been supported by seismic and drilling (30 Holes to date in 2020/21). JORC 2012 COMPLIANT RESOURCE ESTIMATION IMMINENT Final phase of drilling prior to Mineral Resource estimation ongoing, Resource Estimate expected Q4 2021.

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31 Coda Minerals - Sustaining Tomorrow
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EMMIE BLUFF
IOCG Area of Interest
Emmie Bluff Deeps
IOCG TARGETS
ZAMBIAN STYLE TARGETS
1The Company notes that the potential quantity and grade of the Exploration Target is conceptual
in nature, and that there has been insufficient exploration to estimate a Mineral Resource. It is
uncertain whether further exploration will result in the estimation of a Mineral Resource.
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Elaine – IOCG Tar et g

COINCIDENT ANOMALISM

MAGNETIC

GRAVITY

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Elaine Zone
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North looking Magnetic (top) and Gravity (bottom) Gravity Inversion Slice (RL-890m) inversion models showing key AoI.

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Magnetic Inversion slice (RL-890m)
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DETAILED Comprehensive re-evaluation of the project has identified the Elaine prospect as RE-EVALUATION the highest priority IOCG target on Coda’s tenure due to coinciding geophysical anomalism in the area.

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COMPELLING GEOPHYSICS

Anomalism is comparable to other large IOCG systems in the Eastern Gawler Craton. Historical drilling proves an IOCG system exists in the area .

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HISTORICAL DRILLING

Drilling has historically focused on the magnetic anomaly. Highest intensity gravity anomaly remains effectively untested by drilling .

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Magnetic Susceptibility (Red), Gravity (Blue) and MT Resistivity (Green) inversion models.

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Coda Minerals - Sustaining Tomorrow

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WINDABOUT

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Recent drilling at MG14 North confirms potential to

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N
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17.67 MT @ 0.77% Cu, 492 ppm Co, 8 g/t Ag*

MG14

1.83 MT @ 1.24% Cu, 334 ppm Co, 14 g/t Ag*

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WINDABOU T
MG14
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IOCG TARGETS
ZAMBIAN S33TYLE TARGETSCoda Minerals - Sustaining Tomorrow
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N
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*(0.5% CuEq Cutoff)

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Cameron River

Queensland – Cameron River Project

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Coda is earning up to 80% ownership of the Cameron River Copper-Gold
Project through low-risk, staged expenditure.
COMPLEMENTS FLAGSHIP ELIZABETH CREEK PROJECT
•
Provides Coda with additional exposure to buoyant copper market through highly
prospective copper-gold exploration assets.
•
Numerous anomalous rock chips, up to 22% Cu and 6.58 g/t Au respectively.
LOW RISK STAGED FARM IN
•
Stage 1: $1 million exploration expenditure within 2 years to earn a 51% interest.
• Stage 2: Additional $1 million expenditure within 1 year of earning the Stage 1
interest, to earn an additional 29% interest
WORK ACTIVITY
JUL AUG SEPT OCT
Rock Chip Sampling Program
2 [nd] Rock Chip Sampling Assay Results
35 Coda Minerals - Sustaining Tomorrow
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Queensland – Cameron River Project

Rock chip sampling by Coda has identified new areas of untested prospectivity, and expanded the scale the Copper Weed-Rebound mineralised trend.

ROCK CHIP RESULTS CONFIRM MINERAL TENOR

• Numerous anomalous rock chips, up to 23% Cu, 2.74 g/t Au and 156.71g/t Ag respectively.

• Copper Weed-Rebound mineralised trend extended up to 2km long and 800m wide.

• Significant REE assays associated with previously untested geophysical targets.

NEW TARGETS IDENTIFIED

• Significant REE assays associated with geophysical targets at Clear Waters and Scooby prospects, up to 0.2% Ce and 23% Cu recorded.

• Wishbone prospect associated with metabasalt, rock chip assays up to 2.6% Cu.

• Toto prospect, anomalous Au associated with regional Cameron Fault, assays up to 2.54g/t Au.

NEXT STAGES

• Secure Approvals and Contractors to commence RC drill programme in Q1 2022.

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	Q3 2021	Q4 2021	Q1 2022	Milestones
EMMIE BLUFF	Emmie Bluff Inferred Programme Resource Development & Estimation Emmie Bluff EM Acquisition & Interp Inferred Resource Anticipated Release			• INFERRED MINERAL RESOURCE DUE DEC 2021
IOCG	Emmie Bluff Deeps IOCG Drilling Elaine IOCG Drilling1			• ASSAY RESULTS DUE DEC 2021 • ELAINE DRILLOUT COMMENCE MAR 2021
REGIONAL EXPLORATION	Regional Exploration Drilling Regional Exploration Assay Final			• ASSAY RESULTS DUE DEC 2021
CAMERON RIVER	Geochemical Exploration Program Rock Chip Sample Assay Results RC Drill Programme			• MAIDEN DRILL PROGRAM COMMENCE MAR 2021

Emmie Bluff Scoping Study – In Progress

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37 Coda Minerals - Sustaining Tomorrow

ESG Com liance and the Green Econom p y

Emmie Bluff presents opportunities for value creation in a greening and increasingly ethically focused world.

COPPER AND COBALT

Coda’s focus is on key commodities driving the green revolution, with extraordinary anticipated demand growth.

SUPPLY CHAIN PREMIUMS

Conflict-free, ethical supplies of cobalt are rare and sought after by manufacturers, likely to attract a premium.

ENVIRONMENTAL COMMITMENT

Coda is committed to environmentally responsible operations and is actively researching low impact lixiviants for application at Elizabeth Creek.

STRONG RELATIONSHIP WITH TRADITIONAL OWNERS

Coda has a strong, productive and respectful relationship with the Traditional Owners of the land on which it works.

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38 Coda Minerals - Sustaining Tomorrow

WHY INVEST IN CODA?

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Any Questions?

Appendices

Copper & Future Minerals

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A endix A: Statements pp

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Mineral Resources & Competent Person Statement

Mineral Resources and Exploration Targets

1. MG14 Indicated Mineral Resource: The information is extracted from the report entitled "Mt Gunson Copper-Cobalt Project Update" created on 19 January 2018 and is available to view on https://www.asx.com.au/asxpdf/20180119/pdf/43qxphjd18l2x0.pdf. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

2. Windabout Indicated Mineral Resource: The information is extracted from the report entitled "Mt Gunson Copper-Cobalt Project Update" created on 19 January 2018 and is available to view on https://www.asx.com.au/asxpdf/20180119/pdf/43qxphjd18l2x0.pdf. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

3. Emmie Bluff Exploartion Target: The information is extracted from the report entitled "Initial Exploration Target at Emmie Bluff" created on 19 June 2019 and is available to view on

• https://www.asx.com.au/asxpdf/20190619/pdf/445yk7d7vkq685.pdf . The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Competent Person Statement for JORC 2012 Mineral Resources

This report was prepared in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) by Tim Callaghan, who is a Member of the Australian Institute of Mining and Metallurgy (“AusIMM”), has a minimum of five years’ experience in the estimation and assessment and evaluation of Mineral Resources of this style and is the competent Person as defined in the JORC Code. This announcement accurately summarises and fairly reports his estimations and he has consented to the resource report in the form and context it appears.

The MG14 and Windabout Mineral Resource at the Mount Gunson Copper-Cobalt Project has been estimated by Mr Tim Callaghan, an external consultant, and is reported under the 2012 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves (see Gindalbie Metals ASX announcement 19 January 2018 titled: Mt Gunson Copper-Cobalt Project Update).

Competent Person Statement for JORC 2012 Exploration Target

Information relating to the Exploration Target and Exploration Results for Emmie Bluff is based on, and fairly represents, information and supporting documentation compiled by Craig Went, a Senior Associate Geologist of Mining & Process Solutions Pty. Ltd. Mr Went is a Member of the Australasian Institute of Mining and Metallurgy (“AusIMM”), and has a minimum of five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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’ (”JORC Code”). Mr Went consents to the inclusion of the matters based in this ASX Release on his information in the form and context in which it appears.

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A endix B: Board and Mana ement Extended Bio pp g

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Keith Jones BBus, FCA, FAICD, FFin

Non-Executive Chairman

Mr Jones is an experienced public company Chairman with a background of over 40 years professional experience providing advisory and consulting services to the mining and resources sector. Mr Jones served for 10 years on the Board of Deloitte Australia and was elected Chairman of Deloitte Australia for four years. He is the former Chairman of Gindalbie Metals Limited and Cannings Purple and currently serves as a NonExecutive Director of ASX listed Ora Banda Mining Limited. Mr Jones has significant executive leadership experience serving for 15 years as the Managing Partner of Deloitte in Western Australia and as Leader of the National Chinese Services Group and National Energy and Resources Group. As a Partner of Deloitte, Mr Jones provided Audit, Corporate Finance and Advisory Services to a wide range of corporate clients with a focus on the resources sector. He has also advised on numerous transactions, capital raisings, valuations and takeovers as advisor or expert.

Robin Marshall I.Eng (UK), MAICD

Non-Executive Director

Mr Marshall has previously been involved in managing the successful delivery of some of the world’s largest resource projects, including major iron ore projects for BHP Billiton and North Limited. At Vale Inco, he held the position of Project Director with responsibility for delivery of the multi-billion dollar Goro Nickel Project in New Caledonia through to its commissioning in early 2009. At BHP Billiton Iron Ore, Mr Marshall held the position of Vice President – Asset Development Projects with responsibility for the development of a number of projects in the first wave of expansion in the iron ore business sector. In additional to these roles, Mr Marshall also previously held key positions of Project Manager for the West Angelas Iron Ore Project with North Limited, Project Director with Iron Ore Company of Canada, Manager Projects for Forrestania Gold/LionOre Australia, Manager Engineering & Project Services for Western Mining Corporation and Project Manager for Nedpac (Signet Engineering).

Paul Hallam BE(Hons)Mining, FAICD, FAU SIMM

Non-Executive Director

Mr Hallam has more than 40 years Australian and international resource industry experience. His operating and corporate experience is across a range of commodities (iron ore, bauxite, alumina, aluminium, gold, silver, copper, zinc and lead) and includes both surface and underground mining. Mr Hallam retired in 2011 to pursue a career as a professional non-executive director. He has held Australian and international non-executive director roles since 1997. His former executive roles include Director – Operations with Fortescue Metals Group, Executive General Manager – Developments & Projects with Newcrest Mining Limited, Director – Victorian Operations with Alcoa and Executive General Manager – Base and Precious Metals with North Ltd. Mr Hallam is a qualified mining engineer and holds a BE (Hons) from Melbourne University and a Certificate of Mineral Economics from Curtin University. He is a Fellow of the Australian Institute of Company Directors and the Australasian Institute of Mining & Metallurgy.

Colin Moorhead BSc(Hons) FAusIMM (CP) GAICD

Non-Executive Director

Mr Moorhead is an experienced mining professional. He is well recognised in the mining industry, including building safe, successful and highly regarded technical teams; ability to develop and deliver strategy, culture and governance; a thorough understanding of the technical, legal and commercial aspects of the mining business with an exposure to many different cultures and operating environments. Also recognised as a leader in the areas of health, safety, environment and community. Prior to joining Coda Minerals, he served as CEO PT Merdeka Copper Gold Tbk (2016-2018), EGM Minerals, Newcrest Mining Ltd, Australia (2008- 2015), GM Resources & Reserves of the same company (2006- 2008), Geology Manager, PT Nusa Halmahera Minerals, Gosowong Gold Mine, Indonesia (2003-2006), Technical Services Manager, Cadia Holdings Ltd, NSW, Australia (1997-2003), and various other positions in the mining industry in a career spanning 33 years since 1987. Mr. Moorhead a former member of The JORC Committee and also served as President of the Australasian Institute of Mining and Metallurgy (AusIMM) for 2017-2018.

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A endix B: Board and Mana ement Extended Bio pp g

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Chris Stevens BA (Hons), MA (Oxon), MSc, GAICD

Chief Executive Officer, Director

Mr Stevens is an experienced resources executive and mineral economist who, prior to joining Coda Minerals, held the role of CEO at Gindalbie Metals and was instrumental in the negotiation and implementation of the successful demerger of Coda Minerals from Gindalbie and the acquisition of Gindalbie by Ansteel. Prior to joining Gindalbie, Mr Stevens was the Western Australian Mining Consulting Lead at PricewaterhouseCoopers (PwC), where he managed professional teams to devise strategy, evaluate investment options and assist in delivery of major transactions for various ASX listed mining and energy companies. Mr Stevens has held senior roles in the mining industry including General Manager- Commercial at Asia Iron and Commercial Manager at Gindalbie Metals.

In addition to his executive resources experience, Mr Stevens has over 18 years’ experience working with Chinese companies in commercial consulting and private equity. Mr Stevens holds an Honours degree from the University of Oxford, a Master of Science in Mineral Economics from Curtin University, and is a fluent Chinese and Spanish speaker.

Kudzai Mtsambiwa Bcom (Hons), CA, MSc

Chief Financial Officer

A Chartered Accountant with 14 years’ experience in the international resources sector, Mr Mtsambiwa joins Coda following a lengthy career with the leading West African-focused gold producer Perseus Mining (ASX: PRU) – where he most recently held the roles of Group Planning & Business Analyst and Group Financial Controller for seven years. He joined Perseus as Group Accountant in 2010.

During his time at Perseus, Mr Mtsambiwa gained extensive commercial and financial experience during the Company’s rapid growth phase, including exploration as well as the development and operation of several major mines spanning multiple jurisdictions.

Mr Mtsambiwa holds an Honours degree from the University of Western Australia, and a Master of Science in Mineral Economics from Curtin University.

Susan Park BCom, ACA, F Fin, FGIA, FCIS, GAICD

Company Secretary

Ms Park has over 23 years’ experience in the corporate finance industry and extensive experience in Company Secretarial and Non-Executive Director roles with ASX, AIM and TSX listed companies. Ms Park holds a Bachelor of Commerce, is a Member of the Australian Institute of Chartered Accountants, a Fellow of the Financial Services Institute of Australasia, a Graduate Member of the Australian Institute of Company Directors and a Graduate Member of the Governance Institute of Australia. She is currently Company Secretary of several ASX listed companies.

Matt Weber BSc, BSc, MSc

Manager – Economics & Geology

Mr Weber is an exploration geologist with approximately ten years’ experience in the WA mining and exploration sector. Prior to his time at Gindalbie, Mr Weber held a role in the resources policy division at the WA Department of Mines, Industry Regulation and Safety. Mr Weber has previously held exploration geology roles across a number of small exploration companies, focussing on gold, iron ore and base metals, and spent time as a member of the exploration team for Rio Tinto in their Pilbara iron operations. Mr Weber holds bachelor’s degrees in Applied Geology and Environmental Biology, and a Master of Science in Mineral Economics from Curtin University.

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A endix C: Resources Technical Summar pp y

Simmens Quartzite Blocky meta-sandstone, cream coloured.

Target Mineralogy

Corraberra Sandstone Red-brown silty sandstones and flaggy, micaceous siltstones.

• The project’s existing resources and its drill-ready Exploration Target at Emmie Bluff all exhibit a consistent mineralisation style (Zambian-style shale-hosted Cu-Co-Ag) and demonstrate mutual processing compatibility.

Tregolana Shale Reddish-brown laminated shale and siltstone, minor ripple cross-laminated sandstone; flute casts.

• Primary ore minerals are chalcopyrite and bornite for copper, carrolite for cobalt.

Whyalla Sandstone Fine- to coarse-grained sandstone, minor siltstone and conglomerate, including well developed angular basal conglomerate.

• Sulphides are primarily fine grained and disseminated, but also concentrate as blebs and veins along fracture surfaces.

EXISTING MINERAL RESOURCES (JORC 2012 Indicated) 0.5% CuEq. cut-off	EXISTING MINERAL RESOURCES (JORC 2012 Indicated) 0.5% CuEq. cut-off	EXISTING MINERAL RESOURCES (JORC 2012 Indicated) 0.5% CuEq. cut-off	EXISTING MINERAL RESOURCES (JORC 2012 Indicated) 0.5% CuEq. cut-off	EXISTING MINERAL RESOURCES (JORC 2012 Indicated) 0.5% CuEq. cut-off
Category Mt Cu% Co% Ag g/t CuEq%
Windabout 1,2 Indicated 17.67 0.77 0.05 8 1.41
MG141,2 Indicated 1.83 1.24 0.03 14 1.67
Total2 19.5 0.8 0.05 8. 6 1.14
Tonnes Tonnes MOz Tonnes
Contained Metal3 159,000 9,400 5.4 280,000
EMMIE BLUFF EXPLORATION TARGET2,3,4
Tonnage Range (Mt) Cu Range (%) Co Range (%) Ag Range (g/t) Cu Eq. Range4 (%)
46 - 77	0.34 - 1.5	0.02 - 0.10	5 - 19	0.5 - 2.3

Tapley Hill Formation (Mineralisation Host Rock)

Shale, grey to black, dolomitic and pyritic grading upwards to calcareous, thinly laminated, locally cross-bedded. Irregular minor conglomerate. Upper and lower contacts mineralised with Cu sulphides (Chalcopyrite and bornite dominant).

Pandurra Unconformity

Pandurra Formation Unmetamorphosed, dominantly fluvial redbed sediments: medium- to coarse-grained, poorly sorted, subangular quartz and lithic sandstone; minor conglomerate, mudstone, siltstone. Large-scale crossbedding; liesegang banding.

1 See Gindalbie Metals ASX announcement on 19 January 2018 for Competent Person’s statement and full details

2 Numbers have been rounded

4 The Company notes that the potential quantity and grade of the Exploration Target is conceptual in nature, and that there has been insufficient exploration to estimate a Mineral Resource. It is uncertain whether further exploration will result in the estimation of a Mineral Resource.

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3 Refer to Gindalbie ASX Announcement, Initial Exploration Target Delivered at Emmie Bluff Cu-Co Prospect, Mt Gunson, South Australia (19 June 2019)

A endix D: Farm in and Joint Venture pp

Coda has the right to earn up to 75% interest in the Elizabeth Creek Copper Project under a Farm-in Agreement with Terrace Mining, a wholly owned subsidiary of Torrens Mining (ASX:TRN). Current Ownership Coda 70%, Terrace 30%.

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Joint Venture Reached
Earned Apr 2021. JV partner
subject to cash calls or dilution
Spend to Date: $8.62M
Free Carry
Cum. Spend: $8.62M
Stage 3
70% ownership earned Jan 2021. Cum. Spend: $6.62M
Stage 2age 2
51% ownership earned Jan 2020. Cum. Spend: $3.87M Option
Stage 1
75% ownership, exercise option, 5% for $1.5M
25% ownership earned Aug 2018. Cum. Spend: $1.37M
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Material Progress

$8.62 million spent during the Farm-In Phase to materially progress Elizabeth Creek and set up for future success.

Productive Partnership

Coda enjoys a productive relationship with its Farm-in/JV partner Terrace Mining and anticipates continuing cooperation in the JV period (Commenced Q2 2021).

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A endix E: Co er Fundamentals pp pp

Copper holds a crucial role in the development of the modern world. Applications for copper are set to heighten in unison with the world’s growing energy needs and transition towards a greener future.

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DEMAND

Demand remains strong as pressure to cut greenhouse gases and drive efficiency is contributing to the rising tide of electrification.

SUPPLY The copper supply is dwindling as grades decline, input costs increases, and market faces a scarcity of high-quality projects .

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$16,000 $14,000

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Goldman Sachs Forecast Price
EMCF High Forecast Price
$14,000
EMCF Mean Forecast Price
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$12,000 $10,000 Current Cu Price*: $9,520

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$8,000
$6,000
$4,000
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$15,000
$14,000
$11,875 [$12,000]
$9,675 $9,508 $9,603 $9,646 [$9,831]
$9,188
$7,880
$7,529
$7,206 $7,297
$7,042
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A endix F: Emmie Bluff Dee s - Mineralisation Zone DD21EB0018 pp p

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DD21EB0018 – ASSAYS RECEIVED

796.5 – 802.2: an upper zone of disseminated and blebby chalcocite (Minor to moderate) and bornite (minor) in massive haematite.

802.2 - 810.8: a narrow zone of chloritic and haematised sediment (trace to absent sulphides)

810.8 – 838.9: a strongly haematised middle zone, dominated by chalcopyrite (variable, minor to moderate in the upper third, increasing to moderate to intense in the lower two thirds) and accessory bornite in blebs and accumulations typically (though not universally) aligned with the remnant sedimentary structures and with elevated molybdenum and cobalt levels detected by portable XRF.

838.9 – 846.8: a lower zone, including both bornite (moderate after a narrow zone of trace to minor where silica alteration dominates) and chalcopyrite (minor to moderate after a narrow zone of trace to minor where silica alteration dominates), again primarily in blebs and veinlets.

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0.8m at 0.31% Cu, 0.02g/t Au from 794m

4.69m at 1.01% Cu, 0.17g/t Au from 797.45m

0.55m at 0.42% Cu, 0.14g/t Au from 806.5m

0.72m at 0.31% Cu, 0.1g/t Au from 809.4m

28.14m at 1.21% Cu, 0.36g/t Au from 810.79m including: 4.83m at 2.16% Cu, 0.63 g/t Au from 816.80m

0.1m at 0.6% Cu, 0.21g/t Au from 841.05m

2.57m at 2.11% Cu, 0.3g/t Au from 842.03m

Granite

Logged Mineralisation; Wandearah Metasediments

Logged Internal Dilution; Wandearah Metasediments

Minimally/Unaltered Wandearah Metasediments Assayed Mineralisation; Wandearah Metasediments

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Jason Peterson CPS Capital Lvl45, 108 St George’s Terrace Perth WA 6000

08 9223 2222 coda@cpscapital.com.au

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6 Altona Street West Perth WA 6005

08 6270 6331 info@codaminerals.com

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