COOPER METALS LIMITED — Investor Presentation 2022

May 2, 2022

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ASX Code: CPM

Cooper Metals Limited Australian focused copper and gold explorer RIU Sydney Resources Round-up 4[th] May 2022

Managing Director: Ian Warland

Disclaimer

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This presentation has been prepared by Cooper Metals Limited (Cooper Metals)

This document contains background information about Cooper Metals ’s current situation at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sales of shares or other securities in any jurisdiction. This presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission (ASIC)) or any other law.

This presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice) and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or political developments. Details regarding the risks associated with an investment in the Company will be set out in the Prospectus.

To the fullest extent permitted by law, Cooper Metals , its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise are accepted.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Cooper Metals . Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. No representation is made that, in relation to the tenements the subject of this presentation, Cooper Metals has now or will at any time the future develop resources or reserves within the meaning of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves

Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, Cooper Metals does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward looking statement is based.

Due care and attention has been taken in the preparation of this presentation. However, the information contained in this presentation (other than as specifically stated) has not been independently verified nor has it been audited Accordingly, Cooper Meals does not warrant or represent that the information contained in this presentation is accurate or complete. To the fullest extent permitted by law, no liability, however arising, will be accepted by Cooper Metals or its directors, officers or advisers, for the fairness, accuracy or completeness of the information contained in this presentation

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Corporate Snapshot

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Share price performance since listing on 19th November 2021

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ASX Code: CPM
Share Price: $0.46 [1]
Shares On Issue: 40M
Market Cap (undiluted): ~$18.4M
Cash Position: ~4.0M [2]
Options: 8.9M
Major shareholders
Top 20 ~47%
Board ~12%
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(ASX:CNB) Nil
Desperandum
prospect drilling first
assays released to
ASX
King Solomon
workings
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Source: commonwealth securities 28 [th] April 2022
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1 28th April 2022, 2 cash 31 March 2022

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Board of Directors

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Michael Frayne – Chairman

Michael is a qualified accountant and geologist with 30 year’s experience in the resource and finance sectors. He has provided corporate management and advice to numerous resource, commodity and energy companies, the majority of which have been listed on AIM and the Australian Stock Exchange, with projects in Australia, Africa, Asia, North and South America. Michael was founder of Capital Metals in 2015, which was incorporated for the purpose of exploring, assessing and developing the Eastern Minerals Project in Sri Lanka.

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Ian Warland – Managing Director

A highly experienced and successful geologist with 30 years’ experience in Australia and internationally over a wide range of commodities. Notably, a career highlight, was being joint recipient for “Explorer of the Year” in 2006 for the discovery of the Jacinth and Ambrosia zircon-rich mineral sand deposits. Ian holds a Bachelor of Applied Science Geology with First Class Honours and university medal from the University of Technology Sydney. He also has a Graduate Diploma of Applied Finance and Investment and an Associate Diploma in Environmental Control. In the last ten years Ian has worked primarily in the junior exploration sector as a geological consultant and in senior management positions for Musgrave Minerals and Marmota. After leading Twenty Seven Co Ltd as their CEO for the last three years, Ian is now Managing Director of Cooper Metals.

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Tim Armstrong – Non-Executive Director

Institutional financial advisor with Prenzler Group in Sydney with an extensive network across the financial PR, stock broking and investment banking industries in Australia and the UK. Previously worked in financial PR in Perth/London, which entailed advising numerous listed and private companies. He started his career in professional sport and spent five years as a first-class cricketer.

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Project Summary

Three Project areas – Qld & WA

MT Isa East Cu-Au Project - Qld

• World class Mt Isa Inlier

• Large tenement package close to infrastructure

• highly prospective for IOCG, ISCG and shear hosted Cu-Au

Yamarna Gold Project - WA

• Along strike from Gold Road JV Resources 6.16 Moz Gruyere gold deposit[1]

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Gooroo Cu-Au Project - WA

• 20km from Silver Lake’s Deflector Mine (1.28m oz Au @ 13.2 g/t)[2]

• 26km of unexplored greenstone belt

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1 2 ASX:GOR 22 April 2016 , Silver Lake (ASX:SLR) website July 2021

Mt Isa East - Qld

Proven World Class Cu-Au Province

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Located in the world class Mt Isa Inlier

Targeting iron oxide copper gold (IOCG) , iron sulphide copper gold (ISCG) and shear hosted Cu +/- Au

Large Cu-Au focussed project area, five granted tenements in total (~1,575 sqkm) ~30km SE of Mt Isa

Potential for multiple third party processing options in a mature minin re ion g g

Multiple Cu-Au occurrences, and old workings identified in the Project area – primed for discoveries

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Cooper has built a major tenement position in the area, recently acquiring two new tenements extending the ground coverage to ~1,575 sqkm

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Mt Isa East - Qld

Multiple Cu & Au occurrences in highly prospective Domain The Project straddles the boundary of the Western Fold Belt, the Kalkadoon-Leichhardt Belt and Eastern Fold Belt

Several small to medium, high-grade Cu +/- Au deposits in the area i.e., Duchess, Tick Hill, Leichardt & Barbara (4.7mt @ 1.6% Cu & 0.15 g/t Au)[1]

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Carnaby Resources (ASX:CNB) recent success at Nil Desperandum and Lady Fanny highlight the potential of the region especially the Mary Kathleen Domain

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Cooper’s ground has many significant Cu occurrences that have had no follow-up drilling since the mid 1990’s

Cooper’s recent field sampling has identified significant Cu and Au mineralisation at several key prospects, that are now the focus of current on ground exploration programs

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1 Syndicated Metals website July 2021

King Solomon & Python Prospects

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Significant historical workings

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King Solomon
workings
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Significant historical workings at Python and King Solomon prospects

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King Solomon (KS) has several old copper workings that strike over a length of ~1.5km within the Corella Formation

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KS recorded historical production was 894 tonnes @ 5.3% Cu with a further 2,195 tonnes of cupriferous limestone flux @ 2.3% Cu*

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Python prospect includes shallow pits and one shaft hosted in the Corella Formation

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Cooper’s recent geochemical programs confirm significant Cu and Au grades at King Solomon and Python

Source : CPM Prospectus September 2021

High powered ground electromagnetic survey completed over both prospects

• Note historical results listed above in Cooper Prospectus September 2021 and see references for details

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King Solomon Prospect

Drilling to test extensive historical workings and FLEM response

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Mineralised strike confirmed over 1.5km with rock chip samples up to 16.65% Cu and 2.58g/t Au

Three main areas of focus along old workings, previously untested by historical drilling or modern geophysics

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FLEM geophysical response coincident with mineralised trend which may represent preferential weathering due to sulphides, structures or host lithology

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~2,000m of RC drilling to King Solomon 1 commence in May at King Solomon and Python prospects King Solomon 2 Channel 10 Z-component image of FLEM data showing potential target zones where the anomaly amplitudes are greatest and not already covered by historical workings (in brown) (Source: after King Solomon 3

Channel 10 Z-component image of FLEM data showing potential target zones where the anomaly amplitudes are greatest and not already covered by historical workings (in brown) (Source: after Blundell)

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Python Prospect

Significant Cu-Au mineralisation ~2.3km from King Solomon

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Cooper rock chip samples from 1.65% to 35.3% Cu , all with anomalous Au

Assay results from a grab sample near historical shaft returned 8.53% Cu and 0.11 g/t Au (MER048)

Robust FLEM conductor identified, 320m long by 100m down dip projected with 100m of surface, with anomalous rock chips confirmed at surface

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RC drill testing of FLEM conductor and old workings once final regulatory approval granted

Channel 22 Z component image of Python FLEM data showing strong response offset north of the VTEM anomaly (Source: Blundell)

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1.65% Cu
35.3% Cu
8.12% Cu, Significant
fault
12.1% Cu, 1.23g/t Au
Sample 9848 4.03% Cu
8.53% Cu,
shaft
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Python shaft
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Yarraman Prospect

Extensive historical Cu in soil anomaly

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Extensive historical Cu in soil anomaly centered around Yaraman workings (two shafts)

MER057 grab sample returned 3.31% Cu adjacent to the shaft and rock chip sample MER056 returned 1.92% Cu approximately 90m to the southwest

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Mineralisation has formed on strongly sheared contact of the Kalkadoon Granite and an amphibolite/dolerite unit adjacent to the Leichardt Volcanics (host of Barbara Cu-Au Deposit to the north of CPMs ground)

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Cu mineralisation up to 20.2% with 0.18g/t Au and 3.9g/t Ag from rock chip sample of gossanous sheared mafic schist 640m southeast of Yarraman workings indicating the broader Cu potential of the area

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Source CPM Prospectus September 2021

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Follow-up mapping and sampling and possible geophysics planned for 2022

Yarraman Shaft

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Mt Isa East – southwestern prospects

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Significant historical workings untested by drilling or modern geophysics

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Wonder Mine
King Solomon
workings
Blue Mantle
Big Hill
EPM27699 350,000E 355,000E
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Significant historical workings at Wonder Mine, Big Bill, and Blue Mantle prospects

Big Hill Mine ~140m long open-pit development, with

• 2.23% Cu in rock chips (MER034) taken from spoil material

The Wonder Mine comprises three vertical shafts approximately 90m apart with a shallow open cut between the shafts

• rock chips up to 15.75% Cu, 0.25g/t Au and Ag 8.4g/t Ag (MER028 )

• fresh copper sulphides in stockpiles with rock chip results up to 7.33% Cu (MER031)

• mineralisation is developed on significant regional north-south shear zone open to the north

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High powered ground and airborne geophysical surveys planned for 2022 with follow-up drill testing

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Wonder Mine shaft
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Mt Isa East - Qld

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Rapidly building a pipeline of Cu-Au targets Large airborne VTEM survey planned for mid-May to rapidly screen area for bedrock conductors that may represent copper sulphide mineralisation

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First detailed airborne EM survey of the area, with 300m spaced east-west lines covering ~1460-line kilometers and 240sqkm

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Regional wide spaced VTEM survey completed by the government in 2016 identified a conductor at Python and King Solomon which were recently confirmed by the ground geophysics (FLEM)

The new VTEM survey focusses on the prospective Mary Kathleen domain that hosts Carnaby’s (ASX: CNB) Nil Desperandum and Lady Fanny prospects

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Gooroo Cu-Au Project - WA

Extensive unexplored Greenstone Belt

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Cooper is targeting Orogenic gold and copper-gold in the Gullewa Greenstone Belt

20km south of Silver Lakes Deflector mine (1.2* Moz Au @ 13.5 g/t & 3Mt @ 0.8% Cu)[1] and nearby to Recharge Metals Ltd (ASX: REC) Brandy Hill South prospect

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Several historical gold deposits associated with northeasterly trending structures

Recent regional soil geochemistry by Cooper has identified gold anomalism associated with favourable structural trap sites interpreted from aeromagnetic data

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Infill soil geochemistry completed in April, with assay results expected in May, and potential drill testing to find the source of the gold anomalies in 2022

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Gold anomalies
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Location of the Gooroo Project on simplified geology (GSWA 2020)

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Soil sampling at Gooroo
Project - March 2022
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1 Silver Lake (ASX:SLR) website July 2021

Yamarna Gold Project - WA

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Along strike from Gold Road Resources (ASX: GOR) 6.16 Moz Gruyere gold deposit[1]

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~140 km north-east of Laverton in Yamarna Terrane WA

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Yamarna Terrane- newly discovered gold region, remains underexplored

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Cooper have two tenements totaling ~ 171sqkm hosting prospective greenstones

E38/3551 along strike from Gold Road’s (ASX:GOR) 6.16 Moz Gruyere gold deposit[1] on Dorothy Hills Greenstone Belt

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E38/3580 is on the Yamarna Greenstone Belt, which is to host to multiple Au deposits along the Yamarna Shear Zone

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1 ASX:GOR 22 April 2016

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Cooper Metals - Key Takeaways

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RC drilling commencing at King Solomon and Python prospect in May at the Mt Isa East Cu-Au Project

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Expanded ground holding in prospective Mt Isa Inlier with a busy schedule underway for 2022

Large detailed VTEM survey to rapidly generate targets and a strong pipeline of early-stage targets to follow up

Two Projects in prospective Au and Cu-Au areas of the Yilgarn in Western Australia provide significant potential exploration upside

Well funded and year-round news flow from three Projects

Share price strongly leveraged to exploration success

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ASX by the Board of Cooper Metals Limited.

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References & Competent Person Statement

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References ( For more details including and Table 1 Information refer to the following ASX announcements below) Cooper Minerals Ltd Prospectus September 20, 2021

ASX CPM: 1 December 2021: Early field work programs at Mt Isa East return rock chip assays up to 35.3% Cu and 7.96 g/t Au ASX CPM: 9 December 2021: Further strong assay results from Mt Isa East Cu-Au Project

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ASX CPM: 24 January 2022: High powered ground geophysics commences at Mt Isa East Cu-Au Project

ASX CPM: 31 January 2022: December 2021 Quarterly Activities Report

ASX CPM: 7 February 2022: Follow-up rock chip sampling continues to demonstrate wide-spread Cu and Au mineralisation at Mount Isa East ASX:CPM: 26 April 2022: Mt Isa East Cu-Au Project Exploration Update

ASX:CPM: 23 March 2022: Binding agreement signed to acquire a strategic tenement at the Mt Isa East Project

ASX:CPM: 2 March 2022: High powered ground geophysics identifies robust conductor at Mt Isa East Cu-Au Project

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Competent Person Statement

The information in this report that relates to Geological Interpretation and Exploration Results is based on information compiled by Ian Warland, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Warland is a Director of Cooper Metals. Mr Warland has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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’. Mr Warland consents to the inclusion in the report of the matters based on his information and the form and context in which it appears.

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