DALAROO METALS LTD — AGM Information 2022

Nov 29, 2022

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First Mover Advantage in Emerging Metal Provinces

AGM Presentation November 2022

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Disclaimer
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The information contained in this Presentation and all other information provided (whether in writing or otherwise) is confidential and has been prepared to assist the recipient in evaluating the business and prospects of Dalaroo Metals Ltd (”Dalaroo” or the Company).

No representation, warranty or undertaking, express or implied, is made and no responsibility is accepted by Dalaroo as to the accuracy, currency or completeness of any part of this Presentation or any further information supplied by or on behalf of Dalaroo in connection with Dalaroo.

Nothing contained in this Presentation or any other written or oral communication transmitted or made available to the recipient is, or shall be relied upon as, a promise or representation and no representation or warranty is made as to the accuracy or attainability of any technical or financial information set out in this document. Recipients must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of Dalaroo.

Dalaroo does not accept liability for any loss or damage suffered or incurred by the recipient or any other person however caused (including negligence) relating in any way to this Presentation, including, without limitation, the information contained in it, any errors or omissions however caused, or the recipient or any other person placing any reliance on this Presentation, its accuracy, completeness, currency or reliability.

Dalaroo does not accept any responsibility to inform the recipient of any matter arising or coming to its notice which may affect any matter referred to in this Presentation.

Dalaroo has not authorised any person to make any statements or representations, which are not expressly contained in this Presentation.

To the maximum extent permitted by law, any liability of Dalaroo to a recipient or to any other person arising out of this Presentation is expressly disclaimed and excluded.

This report may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the planned exploration program and other statements that are not historical facts. When used in this report, the words "could", "plan", "estimate", "expect", "intend", "should" and similar expressions are forward-looking statements. Although Dalaroo believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

The statements and information contained in this report are not investment or financial product advice and are not intended to be used by persons in deciding to make an investment decision. In releasing this report, Dalaroo has not considered the objectives, financial position or requirements of any particular recipient. Accordingly, potential investors should obtain financial advice from a qualified financial advisor prior to making an investment decision.

DALAROO METALS AGM PRESENTATION

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Polymetallic Focus
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| REE & Pb-Zn-Ag+Cu in the Gascoyne Province

| Ni-Cu-PGE in the new Yilgarn Ni-Cu Province

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First Mover Advantage

Lyons River REE & Pb-ZnAg+Cu and Namban Ni-CuPGE projects occupy a large land position totalling 1,140 km[2] with the scale to host significant orebodies.

Highly Attractive Location

Largely unexplored, north of Chalice Mining’s Julimar discovery and close proximity to road and rail infrastructure.

Clear Strategy For Value Creation

Two projects with multiple high quality drilling targets that have significant potential to yield economic and world class discoveries.

Strong Leadership Team

Management expertise that spans grassroots exploration, resource definition, project development, operations, capital raising and corporate governance.

DALAROO METALS AGM PRESENTATION

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Experienced Leadership
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David Quinlivan Non-Executive Chairman

Robert Beeck Non-executive Director

Harjinder Kehal Managing Director

John Arbuckle Company Secretary

54M Ordinary Shares

A$6.0M Market Cap

Major Shareholders

A$0.11 Share Price (close 29 November 2022)

13M Options (Unlisted)

$1.95M

nil Debt (30 September 2022)

Cash Balance (30 September 2022)

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21%
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Serena Minerals Limited Shenton Resources Limited Other Shareholders

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21%
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58%
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DALAROO METALS AGM PRESENTATION

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High Quality Assets in Tier 1 Jurisdiction
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Lyons River: REE & BHT Pb-Zn-Ag+Cu Strategic land position of (703 km[2] ) in an emerging REE and BHT (Broken Hill style) province.

Namban: Mafic Ni-Cu-PGE Extensive unexplored ground package (437 km[2] ) located in the mid-north wheatbelt, prospective for magmatic intrusion related Ni-Cu-PGE (Platinum Group Elements) deposits.

BHT = Broken Hill Type

DALAROO METALS AGM PRESENTATION

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Lyons River Pb-Zn-Ag+Cu-REE
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First mover advantage

703km[2] in seven granted ELs – 100% Dalaroo.

Highly competitive region with significant recent discoveries and projects under construction. At least six high priority projects that have the potential for base metals, gold, rare earth and lithium mineralisation.

DALAROO METALS AGM PRESENTATION

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Lyons River Pb-Zn-Ag + Cu
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Multiple prospects for follow up

Browns

2km long x 1km wide lead-zinc BHT target with high-grade surface rock chips of 39.6% Pb, 0.71% Zn and 82g/t Ag. Significant Pb-Zn sulphide intercepts include:

• 8m @ 1.1% Pb and 2.50g/t Ag from 36m, and

• 8m @ 0.75% Pb, 0.20% Zn and 1.25g/t Ag from 16m

Four Corners

Higher-grade intersection of 0.2m of 3.05% Pb, 1.37% Zn and 3g/t Ag.

Over 500m strike length of lead-zinc mineralization outlined NE zone within 2.5km long, induced polarisation (IP) anomaly.

Goodbody

• 3.0km long Au anomaly with peak value of 93ppb and 6.25g/t rock chip results.

Crawfords

Pb-Zn 3km X 2km soil anomaly.

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DALAROO METALS AGM PRESENTATION

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“Sweet Spot” Location for BHTs

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• Geoscience Australia study[1] using surface wave tomography shows 85% of world’s sediment hosted base metal deposits occur within 200km of the edges of thick lithosphere.

• The Australian model shows striking correlation between major sediment hosted deposits and edge of thick lithosphere, defined by 170km LAB contour.

• The Lyons River Project is located 160km away on Australian 170km LAB* contour.

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Lyons
River
Project
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1. Hoggard, M.J., Czarnota, K., Richards, F.D. et al. Global distribution of sediment-hosted metals controlled by craton edge stability. Nat. Geosci. 13, 504–510 (2020).

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LAB –lithosphere-asthenosphere boundary

DALAROO METALS AGM PRESENTATION

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Lyons River Rare Earth Potential
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Lyons River is located in an area that has seen significant REE success:

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Yangibana REE Project, in construction Yin and Sabre (Y3) discoveries Mick Well early results up to 0.16% TREO

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An initial rock chip sampling program, targeting outcrops that have coincident magnetic and radiometric anomalies returned the following promising results:

DM003034 – 1536ppm (0.15%) TREO DM003008 – 554ppm TREO DM003033 – 449ppm TREO LR804 – 432ppm TREO

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REE enriched ironstone outcrop (sample DM003034 – 0.15% TREO) at Lyons River

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Namban Ni-Cu-PGE
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Highly Prospective Location 437 km[2]

• Major tenement pegging activity since April 2020 and increased levels of exploration now underway in this new NiCu-PGE prospective Yilgarn Ni-Cu Province.

• Ground position dominated by:

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Julimar discovery

• Other companies active nearby include:

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Moora and Koojan JV Projects

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Yarrawindah Brook

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DALAROO METALS AGM PRESENTATION

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Namban
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Two PGE-Ni-Cu Anomalies and Large Watheroo Magnetic Anomaly Outlined

• 100% unexplored ground package held since 2016 prospective for magmatic intrusion related Ni-CuPGE deposits in the Jimperding Metamorphic Terrane – Yilgarn Ni-Cu Province in the mid-north wheat belt.

• Tenements cover a strike distance of 60 km, adjacent the crustal scale Darling Fault, on the western margin of the Archaean Yilgarn Craton.

• Strong PGE-Ni-Cu-PGE-Au geochemical anomalism & IP anomalies at Manning defined by several phases of geochemical sampling.

• EIS co-funded diamond drill programme to commence at Manning in early January 2023 with leading drill contractor engaged and has visited site.

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DALAROO METALS AGM PRESENTATION

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Namban

Namban

Magnetic PGE-Ni-Cu anomalies surveys identify at Manning (2km x 0.5 multiple targets km) & Cattady outlined

DEC ‘21 MAR ‘22

Lyons River

Maiden RC drilling completed, confirming BHT mineralisation model at Four Corners

Namban 7km X 3km magnetic anomaly at Watheroo with potential for Ni-Cu

Namban

Multiple IP anomalies outlined at Manning coincident with high order Ni-Cu-PGE geochem

JUN ‘22

SEP ‘22

Lyons River Lyons River Multiple sulphide Rare earth rock chips intercepts at Browns highlight potential for also confirming BHT discovery potential

DALAROO METALS AGM PRESENTATION

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The Year Ahead
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The Company has a strategy geared towards 2023 as a year of discovery:

• Diamond drilling at Manning to start in early January, utilising EIS co-funding, will test strong Ni-Cu-PGE-Au coincident with IP anomalies.

• Aircore follow-up drilling at the exciting Pb-Zn-Ag Browns Prospect at Lyons River.

• Assessment underway of the rare earth and lithium potential at Lyons River.

• Follow up 3km strike of gold anomalism at the Goodbody Prospect at Lyons River.

• Assessment of the regional potential in the 437km[2 ] surrounding the Manning prospect and Watheroo Chonolith.

DALAROO METALS AGM PRESENTATION

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Why Invest In Dalaroo?
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Right Commodities Dalaroo is targeting critical battery materials that are forecast to have increasing demand.

Right Location Dalaroo’s projects are in well endowed mineral provinces that have the potential to host significant deposits.

Right Team

Dalaroo’s Board and management have extensive experience in mineral discoveries and adding value for shareholders.

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DALAROO METALS AGM PRESENTATION

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Competent Persons Statement
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The information in this announcement that relates to Exploration results is based on information compiled by Dalaroo and reviewed by Mr Harjinder Kehal who is the Managing Director of the Company and is a Registered Practicing Geologist and Member of the AusIMM and AIG. Mr Kehal has sufficient experience that is relevant to the style of mineralisation, the type of deposit under consideration and to the activities 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 Kehal consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Information contained in this Presentation

The following announcements were lodged with ASX and contain information that has been referenced in this Presentation.

• Pb-Zn-Ag results support BHT/SEDEX-style Prospectivity at Lyons River : 25 October 2021

• Maiden magnetic survey identifies multiple targets at Namban :15 November 2021

• Maiden RC drilling commences at Lyons River : 16 November 2021

• High-order PGE* results from initial geochemical sampling at Namban Project, WA : 7 December 2021

• Successful completion of RC drill program at Lyons River : 14 December 2021

• Two Pd-Au anomalies Cattady and Manning outlined at Namban : 27 January 2022

• BHT/SEDEX lead-zinc mineralised footprint extended at Four Corners prospect – Lyons River Project: 16 March 2022

• New gold prospect outlined at Lyons River in Gascoyne : 4 April 2022

• Namban Project Exploration Update : 11 April 2022

• Significant 7km long magnetic anomaly outlined at Watheroo, Namban Project : 20 April 2022

• Multiple Lithium anomalies – Lyons River Project in Gascoyne : 26 May 2022

• Multiple IP anomalies at Manning, Namban Project : 20 June 2022

• Maiden AC drilling commences at Browns prospect, Lyons River : 25 July 2022

• Multiple lead zinc sulphide intersections at Browns prospect : 12 September 2022

• Rare earth potential at Lyons River Project in Gascoyne : 5 October 2022

• Successful $175,000 Co-funded Drilling Grant for Namban : 21 October 2022

• High grade base metal & silver results at Browns Prospect : 15 November 2022

• Gold Anomalism 3km Strike Length at Goodbody Prospect : 28 November 2022

The Company confirms that it is not aware of any new information or data that materially affects the information previously reported.

DALAROO METALS AGM PRESENTATION

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T: 08 6380 9675

M: +61 400 044 890

E: hkehal@dalaroometals.com.au

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