CONICO LTD — Investor Presentation 2020

Aug 17, 2020

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Corporate Presentation August 2020

CONICO 1

Cautionary Statement

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CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS:

Certain statements made during or in connection with this communication, including, without limitation, those concerning the economic outlook for the exploration industry, expectations regarding commodity prices, production, cash costs and other operating results, growth prospects and the outlook of Conico Ltd (“CNJ”) operations; contain or comprise certain forward-looking statements regarding CNJ ’s exploration operations, economic performance and financial condition.

Although CNJ believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct.

Accordingly, results or outcomes could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in commodity prices and exchange rates and business and operational risk management. CNJ undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events.

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CONICO 2

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Greenland

RYBERG

• ✓ 100% owned. 4,500km[2]

• ✓ >2g/t Au surface rock chip assays in newly discovered greenstone belt

• ✓ Surface samples incl. 0.8% Ni, 2.2% Cu,

• 0.1% Co, 3.3g/t Pd, 2.7g/t Au

• ✓ VTEM conductors identified

• ✓ Drill ready targets

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✓ 100% owned licence application by Longland Resources Ltd. 165km[2]

✓ Historic Pb-Zn Mine (1949-1965), 545Kt @ 9.9% Zn, 9.3% Pb

✓ Sediment hosted Pb-Zn deposit with 13km strike potential supported by previous drilling ✓ 10km from Mestersvig Air Base (Danish Military)

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Iceland

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Ísafjörður
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GREENLAND: A World Class Opportunity

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RYBERG RYBERG MESTERSVIG
✓ Newly discovered ✓50km strike ✓165km [2]
Greenstone Belt ✓2.2% Cu, 0.8% ✓Produced 545K tons
✓ 2.7g/t Au at surface Ni,0.1% Co, 3.3g/t Pd @ 9.9% Pb 9.3% Zn
✓ Retreating ice caps ✓3 x shallow EM ✓13km of untested
revealing geology conductors strike
GOLD Cu-Ni-Co-PGE-Au Pb-Zn
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CONICO 4

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GREENLAND

F IE LD S EA S O N UND E RWAY

RYBERG: Electromagnetic + IP Surveys ( Sortekap: Au Miki Fjord : Ni-Cu-Co-PGE-Au) MESTERSVIG: Pb-Zn: Gravity survey RYBERG: EM, Diamond drilling ( Sortekap: Au Miki Fjord : Ni-Cu-Co-PGE-Au) MESTERSVIG: Pb-Zn: Diamond drilling

July-October 2020 May-October 2021

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CONICO 5

GREENLAND

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NE W DIS CO V E RIES

• ✓ The Mestersvig Project is not located in an area of substantial ice presence

• ✓ Ice coverage around the Ryberg Project has been diminishing rapidly, leading to new discoveries such as the Sortekap gold prospect

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Mestersvig
Ryberg
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• ✓ This image shows total days of melt on the Greenland ice sheet for 2020 (to date)

• ✓ Ryberg has seen approximately 60 days of ice melt so far in 2020

Image taken 9 Aug 2020

Source: National Snow & Ice Data Center / Thomas Mote, University of Georgia

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CONICO 6

GREENLAND

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ME LTING ICE A ND NE W D IS CO V E R IE S

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CONICO 7

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RYBERG

CONICO 8

RYBERG GEOLOGY

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Sortekap Gold

Rift Valley Basin setting

• Kangerlussuaq Basin, Cretaceous-Paleocene (1km exposed, total thickness unknown)

• Overlain by plateau basalts, Palaeogene (up to 9km thick)

• Underlain by gneiss/amphibolite, Archaean

: Project Represents the erosion level between the basement rocks and overlying sedimentary-volcanic sequence

: Triple Junction epicentre (associated with opening of the North Atlantic) and a failed rift

Migration path: For the Icelandic Mantle Plume

: Multiple Intrusions Dykes and sills that intrude the Kangerlussuaq Basin, resulting in sulphide saturation and segregation

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CONICO 9

RYBERG LOGISTICS

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The Project area is in an area suitable for mining development on the SE Greenland coast-closest point to Iceland (430km).

• ✓ Deep-water fjord , ideal for a port

• ✓ Minimal helicopter support required: Traversable by foot/automobile from the fjord to Longland’s VTEM targets

• ✓ Airstrip can be extended to accommodate larger aircraft (Dash-8)

• ✓ Site : Adjacent to large flat-lying valley with abundant aggregate material – ideal for a production facility

• ✓ Fresh Water : available in 3 x lakes

• ✓ Not in a National Park or culturally/socially sensitive area

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CONICO 10

RYBERG MINERALISATION

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Mineralisation: Magmatic sulphides, surface samples grade up to:

• 2.2% copper, 0.8% nickel, 0.1% cobalt, 3.3g/t palladium & 0.2g/t gold

Sulphides: Disseminated interstitial blebs and rounded globules up to ~20cm in diameter including pyrrhotite, chalcopyrite and pentlandite, with palladium and gold minerals

“Globules interpreted to have formed from fractionation of trapped droplets of an immiscible copper and palladium-rich sulphide melt”

: Sulphide Droplets Up to ~20cm diameter - unlikely to survive extensive transport at high flow rates - indicators of proximity to a reworked larger sulphide pool

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CONICO 11

RYBERG WORK CONDUCTED

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: Geophysical Surveys 695 line km ElectroMagnetic (VTEM) survey

• → 3 x conductors: Coincident with mafic dyke displaying blebby mineralisation at surface

• → Targets depths from 60m to 240m below surface

: Rock Chips Over 400 surface rock chips sampled and analysed

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CONICO 12

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MESTERSVIG

CONICO 13

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MESTERSVIG LOGISTICS

Suitable for mining development on the east coast of Greenland, only 10km from the Mestersvig Air Base (Danish Military).

• ✓ Has an existing harbour

• ✓ Traversable by foot/automobile from the harbour to site

• ✓ Existing air field

• ✓ Existing underground workings

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CONICO 14

MESTERSVIG HISTORIC MINE

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A total of 545,000 tons of ore @ 9.3% Pb and 9.9% Zn was produced between 1956 and 1962

• Today this would have a value of ~USD$185M

Underground mining operation of sediment hosted Pb-Zn ore, the historic mine was named ‘Blyklippen’.

Fault-controlled epithermal lead-zinc veins are abundant over some 165 km² in the Mestersvig area.

The mined-out sulphide lens was 2-10m thick, 300m long and 160 m high. It consisted of 65% quartz, 15% sphalerite, 10% galena, 5-10% baryte with trace amounts of pyrite, chalcopyrite and tetrahedrite

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Flotation plant (left) and diesel power plant (right). Both located underground.

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CONICO 15

MESTERSVIG GEOLOGY

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Local geology is dominated by Carboniferous, Permian and Triassic sediments intruded by Palaeogene dolerite sills and dykes

Towards the south, the area is bordered by the Palaeogene Werner Bjerge alkaline complex, in the west, it is bordered by a major regional fault beyond which is the Caledonian fold belt

A 15-20 km-long, anticlinal fold structure occurs along Mestersvig and Deltadal. Faulting is widespread with the Mestersvig Graben as the most conspicuous structure

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CONICO 16

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MESTERSVIG WORK CONDUCTED

The licence was previously held by Ironbark Zinc Ltd and initially investigated by Nordisk Mineselskab A/S.

15 drill-holes at the Sortebjerg Prospect have identified mineralisation near identical to that at the Mestersvig historic mine, and is aligned along strike. The best drill intersect to date at Sortebjerg is 5.17m @ 18.55% Zn+Pb from 40.0m drilled depth.

There has been no exploratory drilling in-between, a total strike length of 13km.

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CONICO 17

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MESTERSVIG PROPOSED ACTIVITIES

✓ This has the potential to be a very large mineralised system. The objective is to assess whether the mineralisation present at Sortebjerg joins that at Mestersvig. To do so:

✓ Licence-wide high resolution gravity survey to identify the location of lead-zinc

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• ✓ Drilling along strike of Sortebjerg and Mestersvig

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CONICO 18

COMPANY SNAPSHOT

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Thomas Abraham James, Joint CEO (Elect)

B.Sc. (Hons) FAusIMM (CP) FSEG, FGSL, MAICD

→ Founder of Longland with 16 years experience including 12 years in Greenland/Iceland

→ Joint CEO elect

→ Lives in Europe

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Greg H. Solomon (Chairman) Guy T. Le Page (Non-Exec Director/Joint CEO) James B. Richardson (Non-Exec Director) Douglas H. Solomon (Non-Exec Director)

BOARD:

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MANAGEMENT:	Thomas Abraham-James (Joint CEO)
	Aaron Gates (Company Secretary)
MAJOR SHAREHOLDERS:	Tasman Resources Ltd: 10.0%
	J Richardson 5.7%
	Arkenstone Pty Ltd 5.2%
	March Bells Pty Ltd 4.9%

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P R O - F O R M A C A P I T A L S T R U C T U R E	P R O - F O R M A C A P I T A L S T R U C T U R E
( P O S T P L A C E M E N T , R I G H T + L O N G L A N D A C Q U I S I T I O N )
S H A R E S	7 3 0 , 3 0 4 , 8 9 1
U N L I S T E D O P T I O N S	6 2 , 2 6 4 , 8 6 6
C A S H	$ 2 0 0 , 0 0 0
D E B T	$ 2 . 2 M I L L I O N ( E S T )
S H A R E P R I C E	$ 0 . 0 1 8
M A R K E T C A P	$ 1 0 , 2 2 4 , 6 6 8
E N T E R P R I S E V A L U E	$ 8 , 0 0 9 , 2 5 9

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CONICO 19

PROPOSED CONSULTANTS

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Höskuldur Jónsson

Logistics – Greenland

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Höskuldur is an expedition leader, guide and logistics export educated at University College Birmingham. He has over 19 years’ experience operating in the Arctic, including Greenland, Iceland and Norway (mainland, plus Svalbard and Jan Mayen). He is a qualified skipper and first visited the Ryberg Project in 2008.

Dr Filipa Marques

Technical Advisor - Mestersvig PhD, FGS

Geologist with a PhD from the University of Lisbon, Portugal and has over 20 years’ experience researching the geology and genesis of sulphide mineralisation in hydrothermal systems. Filipa’s research has taken her to Antarctica, the Azores, and a particular focus on the North Atlantic including Iceland. At the University of Bergen’s Department of Earth Science, Filipa held the position of Associate Professor. Filipa has also consulted to industry, assisting Nautilus Minerals, First Quantum Minerals, and collaborating with the CSIRO.

Dr David Holwell

Technical Advisor - Greenland PhD, MSc, MCSM, BSc(Hons), FSEG, FHEA

Dr Dave Holwell is an economic geologist with expertise in magmatic and hydrothermal precious and base metal ore deposits. In particular, he involved with developing efficient exploration models by utilising a range of research, field and analytical techniques. He has over a decade of experience in magmatic Ni-Cu-PGE mineralisation, publishing over 35 papers on the subject and has several years’ experience as an exploration geologist and consultant. In recent years, he has been involved in a number of projects that apply a Minerals Systems Approach to the exploration for magmatic ore deposits. He holds an MSc in Mining Geology from Camborne School of Mines, obtained in 2002, and a PhD from Cardiff University (2006).

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CONICO 20

GREENLAND - CURRENT ACTIVITY

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• World’s highest-grade ilmenite (titanium) project

• GBP£73M market cap

• NW Greenland

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• The U.S. government proposed purchasing Greenland (2019)

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• Settled on installing a new U.S. consulate in Nuuk (capital of Greenland)

• On the back of strategic location and natural resources

• Largest REE resource outside of China

• ~~• AUD$321M market cap~~

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• Final approvals imminent

• AUD$10M earn in to Greenfields Exploration Ltd

• ~~Copper exploration nearby to Mestersvig~~

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• Commenced 2019

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CONICO 21

GREENLAND

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FISCAL TERMS

• ✓ 30% corporate tax

• ✓ Double taxation treaties with Iceland, Denmark, Norway & Faroe Islands

• ✓ 2.5% sales royalty

• ✓ Greenland tax is based on a net income principle, where the taxable income is calculated as a total net amount after deductions

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• ✓ Can carry forward tax losses indefinitely

• ✓ No VAT (DKK 0.10 per litre tax on fuel)

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CONICO 22

• MT THIRSTY COBALT PROJECT INVESTMENT CASE:

11

MT THIRSTY COBALT-NICKEL PROJECT

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Mt Thirsty Cobalt Project

• ✓ 50:50 JV between Barra Resources Ltd and Conico Ltd.

• ✓ Located 16km NW of Norseman, WA.

• ✓ Close to local infrastructure.

• ✓ Contains the Mt Thirsty Cobalt-Nickel (Co-Ni) Oxide Deposit that has

the potential to emerge as a significant cobalt producer. ✓ Scoping Study completed in 2017 with robust results. INVESTMENT CASE:

• ✓ Pre-Feasibility Study (PFS) completed in 2020 utilised Amec Foster Wheeler Australia Pty Ltd, trading as Wood.

• ✓ Opportunities for economic optimisation include higher cobalt and nickel recoveries and capital cost reductions.

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CONICO 24

A GIANT OPPORTUNITY

• ✓ TARGETS : Mestersvig + Ryberg exposure to multi-commodity opportunities with large scale.

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• ✓ RYBERG : A giant target Ni-Cu-Co-PGE-Au target over 50km strike with highgrade rock chips and drill ready geophysical targets. Newly discovered Greenstone Belt with high-grade gold values.

• ✓ MESTERSVIG : 13km of untested structure along strike from former highgrade Pb-Zn mine.

• ✓ PEOPLE : Management + consultants with significant Greenland Experience.

• ✓ LOGISTICS : Easy access from Iceland.

• ✓ TIGHT CAPITAL STRUCTURE : Top 20 hold 70% of issued capital.

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CONICO 25

CONICO CONTACTS

Thomas Abraham-James Joint CEO tom@longlandresources.com

 Level 15, 197 St Georges Terrace PERTH WA 6000 Australia

Guy Le Page Non-Exec. Director & Joint CEO glepage@conico.com.au

 Postal Address PO Box 7055 Cloisters Square WA 6850 Australia

 mailroom@conico.com.au www.conico.com.au 

 +61-8-9282-5888

 +61-8-9282-5899

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26

CONICO 26

COMPETENT PERSONS STATEMENT

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The information contained in this presentation relating to exploration results relates to information compiled or reviewed by Thomas Abraham-James, a full-time employee of Longland Resources Ltd. Mr. Abraham-James has a B.Sc. Hons (Geol) and is a Chartered Professional (CPGeo) and Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Abraham-James has sufficient experience of relevance to the styles of mineralisation and the under to the as a types of deposit consideration, and activities undertaken to qualify Competent Person as defined in the 2012 edition of the Joint Ore Reserve Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Abraham-James consents to the inclusion in this presentation of the matters based on information in the form and context in which it . appears

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27 CONICO 26