DELTA LITHIUM LIMITED — Investor Presentation 2021

Jun 29, 2021

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EUREKA & WARRIEDAR GOLD PROJECTS

I N V E S T O R P R E S E N TAT I O N | J U N E 2 0 2 1 | A S X : T I N

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Disclaimer

This presentation does not constitute an offer that is capable of acceptance nor is it a disclosure document under the Corporations Act. This presentation is intended for recipients collectively and does not take into account the investment objectives, financial situations and particular needs of any particular person. It does not constitute financial advice. In all cases recipients of this presentation should carry out their own independent enquiries and investigations into, and independent assessment and review of TNT Mines and the information contained in this presentation as well as forming their own views on all general economic, commercial, financial, technological and regulatory risks that may be associated with an investment in TNT Mines.

Forward looking Statements

This presentation contains forward looking and other subjective information. Such exemptions, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties. Actual results and developments will almost certainly differ from those expressed or implied and should make your own assessment of the expectations, estimates, projections and the relevant assumptions and calculations based on which opinions, estimates and projections are based. No representation or warranty, express or implied, is given as to the accuracy of the information or opinions contained in this document and no liability is accepted by the company or director, member, officer, employee, agent or adviser for any such information or opinions.

Competent Persons Statement

Exploration information in this Announcement is based upon work undertaken by Mr Matthew Boyes who is a Fellow of the Australasian Institute of Mining and Metallurgy (AUSIMM). Mr Boyes has sufficient experience that 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 Boyes is an employee of TNT Mines Pty Ltd and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The Company refers to previous announcements in respect of exploration results dated 22 June 2021, 15 June 2021 and 10 March 2021. The resource for the Eureka Project was disclosed in the ASX announcement dated 24 June 2021. The Company is not aware of any new information or data that materially affects the information included in the relevant market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.

This presentation is authorised for release by the Board of Directors of the Company.

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CORPORATE STRUCTURE

HIGHLY EXPERIENCED BOARD AND MANAGEMENT

• MATT BOYES • Qualified geologist with 25 years’ industry experience and a strong background CHIEF EXECUTIVE in mineral resource estimation, project development and operations OFFICER management. Recently Chief Operating Officer for AIM-listed Patagonia Gold, overseeing construction of two gold-silver heap leach projects

• ALEX HEWLETT • Qualified geologist highly skilled at project identification and acquisition and NON-EXECUTIVE was previously Chairman of Spectrum Metals Limited, overseeing its growth CHAIRMAN from mid-2018 to being taken over by Ramelius Resources in early 2020.

• BRETT MITCHELL • Corporate finance executive with over 25 years of experience in finance & NON-EXECUTIVE capital markets, specialising in project generation, financing of early-stage DIRECTOR resources and technology companies. Chairman of ASX listed MGC Pharmaceuticals Ltd (ASX:MXC)

• JAMES CROSER • Qualified mining engineer with 20 years’ operational, technical and NON-EXECUTIVE management experience in the Australian mining sector, Served as an executive DIRECTOR on the boards of Spectrum Metals Ltd, Kalgoorlie Mining Company Ltd and Resources & Energy Group Ltd

• NADER EL SAYED • Holds a Bachelor of Commerce (Banking & Finance) and a Masters (Accounting) NON-EXECUTIVE from Curtin University of Technology in Western Australia and is currently the DIRECTOR Chief Executive Officer of Multiplant Holdings, a mining and civil services business based in Perth.

		TOP HOLDERS1	TOP HOLDERS1		%
		~~ANTHONY BARTON AND ASSOCIATES~~			~~6.53~~
		JAMES CROSER AND ASSOCIATES			5.34
		ALEX HEWLETT AND ASSOCIATES			5.26
		ROCK THE POLO PTY	LTD		4.04
		CITYSCAPE ASSET PTY LTD			3.68

1. As at 28 June 2021

CAPITAL STRUCTURE ASX: TIN CURRENT SHARE PRICE 17c SHARES ON ISSUE 131.4M MARKET CAP (at $0.17) $22.34M CASH & RECEIVABLES @ END OF Q2 CY2021 ~$6.25M ENTERPRISE VALUE $16.1M	CAPITAL STRUCTURE ASX: TIN CURRENT SHARE PRICE 17c SHARES ON ISSUE 131.4M MARKET CAP (at $0.17) $22.34M CASH & RECEIVABLES @ END OF Q2 CY2021 ~$6.25M ENTERPRISE VALUE $16.1M
CAPITAL STRUCTURE	ASX: TIN
CURRENT SHARE PRICE	17c
SHARES ON ISSUE *	131.4M
MARKET CAP (at $0.17)*	$22.34M
CASH & RECEIVABLES @ END OF Q2 CY2021*	~$6.25M
ENTERPRISE VALUE *	$16.1M

*pro-forma including capital raising announced 30 June 2021

SHARE PRICE MOVEMENT

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TNT Mines | Investor Presentation

AN OUTSTANDING INVESTMENT OPPORTUNITY

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• Company-making potential in underexplored gold projects, Eureka and Warriedar, in wellknown WA mining districts

• Both projects feature historic high-grade production close to infrastructure including operating gold mills

• Opportunity for rapid delineation of significant shallow high grade gold resources

• Exposure to Earaheedy with large tenement pegged and now awaiting granting

• Exposure to US Uranium and Zinc through highly prospective East Canyon uranium project in south-eastern Utah and the Pelley Ridge Project in Montana

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Eureka and Warriedar Gold Project Locations

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EUREKA PROJECT

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Eureka Project comprises of 5 tenements including 4 mining leases and 1 exploration permit to the west of existing pit

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Ground position sits 50km North of Kalgoorlie - excellent access and supporting infrastructure

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Minimal exploration completed outside of known pit area

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15,200m of RC drilling completed since November 2020

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Aircore programme now underway

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Eureka Project Location Map

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RECENT DRILLING AT EUREKA ADDING TO STRIKE EXTENSION IN PREVIOUSLY UNTESTED AREAS

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Good Mineralisation
Widths of
is not closed
oxidized
off in either
material
direction
intersected
North or
close to
South of
existing pit
boundary existing
Resource
Down dip
extensions
have now
been tested
with a high
capacity RC
rig, results
pending
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RESOURCE UPDATE COMPLETED

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New Eureka Independent JORC 2012 resource of 112,000 oz gold @ 1.42 g/t gold reported at cut-off of 0.5g/t gold

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• TNT Mines drilling at Eureka has delivered the resource increase of 68,900oz at an exploration cost of $21 per ounce

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• 62,500oz @ 1.53g/t gold in Indicated category at cut-off of 0.5g/t gold

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• At 0.5 g/t gold cut-ff an increase of 68,900oz has been delivered on the historically reported resource

Resource Category	Cutoff Grade	Tonnes	Grade	Contained Metal
		(t)	(g/t Au)	(Oz Au)
Indicated	0.3	1,437,000	1.4	65,000
	0.5	1,269,000	1.5	62,000
	0.8	983,000	1.8	56,000
	1.0	811,000	2.0	52,000
Inferred	0.3	1,341,000	1.2	52,000
	0.5	1,183,000	1.3	50,000
	0.8	887,000	1.5	43,000
	1.0	666,000	1.7	37,000
ALL Resources	0.3	2,778,000	1.3	116,000
	0.5	2,452,000	1.4	112,000
	0.8	1,870,000	1.7	100,000
	1.0	1,477,000	1.9	88,000

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Table 1 Eureka Gold Project– In Situ Mineral Resources (as of 30 June 2021) Refer ASX announcement dated 24 June 2021 for further details.

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EUREKA – DRILLING COMMENCED ON NORTHERN TARGET AREA

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Mineralisation open to North and South of existing old workings, structure visible in surface trenching and intersected in multiple holes,

• WRRC0018 5m @ 2.88 g/t Au including 1m @ 10.58/g/t from 27m in thick qtz vein

• WWRC0019, 4m @ 11.0 g/t Au from 42m inc. 2m @ 19.2 g/t Au

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Second round of drilling now completed into zone with assays pending

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Mineralisation intersected close to contact with large cross cutting Gabbro dykes

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Controls over high grade structure still not fully understood

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NEAR PIT EXPLORATION TARGETS

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4 main areas now tested

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Additional 3700m completed in Q2 with targets including NE extension and northern High grade zone

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Best results to date included 34m @ 1.75/gt Au in WRRC0081, 14m @ 2.09 in WRRC0001 and 4m @ 6.56g/t Au in hole WRRC0082 located within the southern pit extension area

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AUGER GEOCHEM TARGET SOUTH EUREKA

860 Auger sites sampled on a 200m x 50m spaced pattern

Significant anomaly discovered 1.2km south of Eureka pit

Structural setting similar to Zoroastrian deposit (350Koz) at Bardoc Gold 1.4km to east

Mineralisation coincident with regional scale Bardoc Shear which is major structure within the Bardoc tectonic zone

Major gold deposits such as Paddington (>4Moz) hosted with same black flag sequence

Aircore programme to start June 21[st] with 5000m programmed

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WARRIEDAR PROJECT

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45km2 tenements including granted Mining Leases

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Close to Perth and existing infrastructure

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Tenements feature historic mine workings that produced high-grade gold

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RRRC0011 recently intersected 44m @ 1.12g/t Au including 20m @ 2.12

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Intrusive hosted target large tonnage potential now primary target for future exploration

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GAIP commencing first week in July with follow up Pole Dipole IP programme to better define targets for RC programme

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NORTHERN REIDS RIDGE INTRUSIVE TARGET

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RRRC0011 is anomalous for gold from 0m to 116m within granodiorite intrusive

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Mineralisation intersected is at the eastern border of the Reids Ridge intrusive granodiorite with an untested conceptual target length of >2km in strike

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returned from drill Significant assays hole RRRC0011 include;

• 20m @ 2.12 g/t gold from 88m to 108m within

• 44m @ 1.12g/t gold from 68m

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REIDS RIDGE MINE & COMMODORE TARGET

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Large fault mappable over 3km in length

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Multiple Au occurrences along strike with Reids Ridge mine and Commodore prospect

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Relatively little exploration below existing workings

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High grade targets outside of Granodiorite

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Au Occurrences over Reids Ridge and Commodore Prospects

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LARGE LAND POSITION MULTIPLE TARGETS TO TEST IN 2H 2021

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Regional targets to be tested in 2H 2021 including Mt Laws extension, Langs Find AC programs designed to test geochem anomalies across BIF horizons RC program to test southern strike extent of Golden Eagle

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Geochem Anomalies Over air Mag survey highlighting regional targets

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LOCKERIDGE FAULT PROJECT-EARAHEEDY BASIN

Application E69-3871 submitted for large tenement position in the Earaheedy Basin Encompasses the Lockeridge fault considered to play integral part in control of SEDEX-MVT Zn-Pb mineralisation at Chinook discovery (Rumble Resources)

Initial Geochemical and Geophysical programme planned to start upon approval of tenement

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1202 HAY STREET WEST PERTH WA 6005 PH: +61 8 6319 1900 E: frontdesk@tntmines.com.au

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