DEVEX RESOURCES LIMITED — AGM Information 2018

Nov 26, 2018

Annual General Meeting Presentation

27 NOVEMBER 2018 ASX : DEV

• High-impact exploration in Tier-1 provinces

• Standout uranium, copper-gold drill targets

• Strong leverage to recovering uranium market – market cap just $4m

==> picture [260 x 66] intentionally omitted <==

==> picture [508 x 540] intentionally omitted <==

==> picture [81 x 109] intentionally omitted <==

Important Information

• Forward Looking Statements

• This Presentation may include statements that could be deemed “forward-looking statements”. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all.

• No offer to sell or invitation to buy

This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in DevEx Resources Limited, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. DevEx Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.

• Disclaimer

Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, DevEx Resources Limited and its representatives:

• make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;

• accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and

• accept no responsibility for any errors or omissions from this Presentation.

• Competent Person Statement

The information in this Presentation that relates to the Exploration Results for the Nabarlek Projects, West Arnhem Projects and U40 Prospect are extracted from ASX announcements entitled “Large drill target defined below Nabarlek Uranium Mine, West Arnhem Project, NT’ released on the 9[th] October 2018, “Uranium-Copper-Gold Drill Target Defined at West Arnhem” released on the 12[th] September 2018, “Multiple Priority Drill Targets Identified at West Arnhem Copper-Gold-Uranium Project, NT” released on the 6[th] December 2017, “UEQ Identifies High-Grade Copper-Gold and Base Metal Potential at NT Uranium Projects” released on the 4[th] October 2017 and “Higher Uranium Grades Returned from U40 Prospect – Nabarlek Project, Northern Territory” released on the 16[th] December 2010, all announcements are available on www.devexresources.com.au. The information in this Presentation that relates to Exploration Results for the Dundas Project is extracted from the ASX announcement entitled “Extensive Lithium Anomaly Identified at Dundas, WA ” released on the 10th October 2017 which is available on www.devexresources.com.au. The

information in this Presentation that relates to Exploration Results for the Junee Project is extracted from the ASX announcement titled “Porphyry Copper-Gold Targets Identified at Junee Project, Lachlan Ford Belt, NSW” released on the 24[th] January 2018 which is available on www.devexresources.com.au. The information in this Presentation that relates to Exploration Results for the Bogong Project is extracted from the ASX announcement titled “Copper-Gold Targets Identified at Bogong Project, NSW” released on the 22[nd] May 2018 which is available on www.devexresources.com.au. The information in this Presentation that relates to Exploration Results for the Oscar and Mt Hann Project is extracted from the ASX announcement titled “DevEx identifies outstanding new diamond exploration opportunities in Australia’s Kimberley Region” released on the 2[nd] July 2018 which is available on www.devexresources.com.au.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement.

 Exploration by Other Explorers

This presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this presentation. The Company does not vouch for the accuracy of these reports. The Company has taken the decision to include this information as it is in the public domain and as assessed it to be of relevance to shareholders and investors.

2

2018 Key Highlights

Strategic broadening of DevEx’s exploration portfolio, providing shareholders with exposure to:

==> picture [276 x 275] intentionally omitted <==

• West Arnhem Nabarlek Project

• New high-grade uranium (copper-gold) drill targets in a proven mineral system

• Strengthening uranium market

• Junee Project

• District-scale discovery opportunity in an under-explored part of NSW premier copper-gold district – the Macquarie Arc

• Bogong Project

• Highly prospective opportunity to explore beneath historic copper (gold) drill intercepts

3

West Arnhem Nabarlek Project

==> picture [171 x 37] intentionally omitted <==

----- Start of picture text -----

Oscar and Mt Hann
Diamond Projects
----- End of picture text -----

==> picture [466 x 60] intentionally omitted <==

----- Start of picture text -----

West Arnhem Nabarlek Project
WEST ARNHEM-NABARLEK
URANIUM, COPPER-GOLD
----- End of picture text -----

==> picture [250 x 23] intentionally omitted <==

• Alligator Rivers Uranium Field NT, hosts large scale uranium deposits

• Near-mine drill targets defined beneath:

• Nabarlek Mine ( 24Mlbs @ 1.8% U3O8 mined out)

• U40: previous high-grade uranium-copper-gold intercepts:

==> picture [373 x 143] intentionally omitted <==

----- Start of picture text -----

PERTH
SYDNEY
Junee Project
Dundas Lithium Project Bogong Project
----- End of picture text -----

==> picture [445 x 60] intentionally omitted <==

----- Start of picture text -----

Bogong Project
COPPER-GOLD
----- End of picture text -----

• 12.3m @ 2.0% Cu,1.8g/t Au and 0.73% U3O8

• 6.3m @ 1.9% Cu, 0.66g/t Au and 7.23% U3O8

• Drilling planned for the start of 2019 Field Season

• Target: Nabarlek-style, high-grade uranium mineralisation

==> picture [465 x 59] intentionally omitted <==

----- Start of picture text -----

Junee Project
COPPER-GOLD
----- End of picture text -----

• Significant shallow historical drilling intercepts untested:

54.9m @ 1.1% Cu from 6.1m

9.2m @ 2.0% Cu from 39.6m

• Exploration Licence granted in March 18

• Large scale porphyry copper-gold province vis Parkes/Cadia-style

• Coincident geophysical porphyry Cu Au target underlying alteration identified – land access agreement in place

• Field work has commenced and targets under review

• Geophysics and drilling planned once Access Agreements in place

4

==> picture [431 x 432] intentionally omitted <==

West Arnhem Nabarlek Uranium, Copper-Gold Project

NORTHERN TERRITORY

==> picture [256 x 243] intentionally omitted <==

==> picture [81 x 109] intentionally omitted <==

25 24

23

28

27

Changing sentiment towards uranium: a compelling reason to review our West Arnhem Nabarlek Project with a refreshed outlook

Price Rise and Buy Ups

• Uranium Spot Price reached a two-year-high

==> picture [81 x 110] intentionally omitted <==

• 24% gain since the start of 2018

26

• Investment funds enter the U market – Yellow Cake Uranium Participation Corp (UPC), Cameco Corp. and Tribeca Fund

Supply Cuts by Major Producers

• During 2017/2018, ~25-35Mlbpa of mined uranium will be removed from the market equating to 14-20% total annual demand

22

21

==> picture [14 x 10] intentionally omitted <==

----- Start of picture text -----

20
----- End of picture text -----

==> picture [14 x 10] intentionally omitted <==

----- Start of picture text -----

19
----- End of picture text -----

Demand Increasing

• Significant nuclear build programs: 57 reactors under construction with a further 154 planned

• Importantly, Japan has switched back on 9 reactors

• Significant ramp-up in nuclear power required if China is to achieve proposed target of limiting global temperature rise to below 1.5[O] C

References: ‘Emerging from a Nuclear Winter’ – Argonaut, July 18. ‘China's nuclear power under the global 1.5C target’ – KeAi May 2018.

6

Exploring Australia’s Premier Uranium Field

The Alligator Rivers Uranium Field (ARUF)

• • 500 Million Pounds U3O8 endowment (mined and current Resources)

• Comparable to the Athabasca Basin, Saskatchewan ([+] 1.2Blb U3O8)

==> picture [140 x 71] intentionally omitted <==

----- Start of picture text -----

Nabarlek
24 Mlbs @ 1.84% U3O8
(Historical Production)
----- End of picture text -----

==> picture [81 x 109] intentionally omitted <==

• Historically, ground tightly held by majors solely interested in uranium

• Significance of associated copper-gold occurrences overlooked

DevEx’s Ground Position

• Centered on the historical high grade Nabarlek Uranium Mine

• DevEx holds a dominant ground position of [+] 5000km[2]

• Agreements with Traditional Owners already in place for granted tenure (1 mineral lease and 3 granted exploration licences)

Exploring for extensions to high grade Nabarlek Uranium Mine

• Historically Australia’s highest grade uranium mine: 24 Mlbs @ 1.84% U3O8 1

• High grade uranium copper gold drill targets now defined at U40 and Nabarlek

7

1. References: Australia’s Uranium resources, geology and development of deposits, AGSO 2007

1

==> picture [81 x 109] intentionally omitted <==

Nabarlek Prospect: Near-mine exploration drill targets defined

==> picture [544 x 367] intentionally omitted <==

• 2018 3D Induced Polarisation (IP) geophysical survey defines a chargeability anomaly beneath the historical Nabarlek Uranium Mine *

• IP Anomaly interpreted to be mapping alteration associated with uranium mineralisation

• The is untested. alteration was anomaly Significant

• intersected in previous drilling on its northern edges

• A similar structural position as Nabarlek, close to lower Oenpelli Dolerite contact

• Potential to host a repetition of the high-grade Nabarlek uranium system

==> picture [381 x 52] intentionally omitted <==

----- Start of picture text -----

DRILLING PLANNED FOR EARLY 2019
----- End of picture text -----

• Drilling to commence at the start of the 2019 Field Season following regulatory approvals

8

* Refer to ASX : DEV announcement of 9-Oct-18

The Target - repetitions of high-grade Nabarlek type uranium mineralisation

==> picture [525 x 310] intentionally omitted <==

==> picture [409 x 310] intentionally omitted <==

A primary focus: Pre-mining high-grade drill intercepts at Nabarlek justify deeper exploration targeting

9

2 U40 Prospect: Uranium-copper-gold target defined

• 2018 IP survey identified a clear chargeable anomaly located down-dip from an isolated pod of highgrade uranium-copper-gold mineralisation

• Previous intercepts in diamond core holes that define the high-grade pod include:*

• 12.3m @ 0.73% U3O8, 1.77g/t Au, 2% Cu

• 6.3m @ 7.23% U3O8, 0.7g/t Au, 1.9% Cu

• IP anomaly interpreted to be mapping the alteration associated with these intercepts

==> picture [381 x 52] intentionally omitted <==

----- Start of picture text -----

REGULATORY APPROVAL TO DRILL
TARGETS NOW IN PLACE
----- End of picture text -----

• Drilling planned to commence early 2019 in conjunction with Nabarlek prospect

==> picture [81 x 110] intentionally omitted <==

==> picture [521 x 365] intentionally omitted <==

10

* Refer to ASX : DEV announcement of 6-Dec-17 and 4-Oct-17

==> picture [431 x 432] intentionally omitted <==

==> picture [81 x 109] intentionally omitted <==

Junee and Bogong Copper-Gold Projects NEW SOUTH WALES

==> picture [272 x 262] intentionally omitted <==

Junee and Bogong Projects: new opportunities for significant copper gold discovery

• Located in the Lachlan Fold Belt - a highly endowed copper gold region

• Junee Project is within the Junawarra Volcanics : underexplored as previously thought to be unrelated to the mineralising events of the Macquarie Arc

• In 2017, the Geological Survey (GSNSW)[1] identified a monzonite intrusion within the Junawarra Volcanics contemporaneous with the copper gold bearing monzonite intrusions at Cadia-Ridgeway and Northparkes Mines

• The Junawarra Volcanics are now interpreted by the GSNSW as the southern extension of the Junee–Narromine Volcanic Belt which hosts

• Northparkes Mine - China Molybdenum Co. Ltd.

• Cowal - Evolution Mining Ltd.

• Temora (the Dam, Gidginbung and Yidadah) - Sandfire Resources NL

• DevEx is currently building a portfolio of exploration targets within its granted tenure: including the Billabong Creek Prospect

New hunting ground for major porphyry-related copper-gold systems

==> picture [412 x 505] intentionally omitted <==

12

1 GSNSW East Riverina Mapping Project - Some Highlights and Implications, Eastlake and Trigg

Junee Project : Billabong Creek progressing towards a drilling program in early 2019

==> picture [344 x 343] intentionally omitted <==

==> picture [345 x 344] intentionally omitted <==

==> picture [81 x 109] intentionally omitted <==

Rural Land Access agreement covering the majority of the Billabong Creek porphyry coppergold target

Mapping and geochemical sampling has commenced to define drill targets

13

Bogong Project - Copper-gold targets identified

• 60km SE of Junee Project

==> picture [81 x 109] intentionally omitted <==

• Significant near surface, broad copper intercepts in historical drilling

• • : Better copper intercepts include

• 54.9 m @ 1.06% Cu from 6.1m; and

• 9.2 m @ 2.02% Cu from 39.6m

• Copper sulphide mineralisation hosted within felsic rocks

• No assaying for gold in drilling

• Shallow drilling to the north ineffective

• Follow-up drilling required

Exploration Licence granted March 18

14

* Refer to ASX : DEV announcement of 22-May-18

Bogong – Under explored copper system

==> picture [557 x 385] intentionally omitted <==

• Copper in soil geochemistry indicates the system is open to the north

• Previous rock chip sampling demonstrates copper + gold relationship, up to 2.7 g/t gold with 1.1% copper.

• No modern geophysics to test for copper sulphides at depth or along strike

==> picture [373 x 71] intentionally omitted <==

----- Start of picture text -----

PLANNING GROUND IP GEOPHYSICS
TO ASSIST WITH DRILL TARGETING
----- End of picture text -----

==> picture [412 x 82] intentionally omitted <==

----- Start of picture text -----

•
Majority of the project is freehold farm land
•
Landowner engagement to negotiate land access
agreements has commenced
----- End of picture text -----

15

* Refer to ASX : DEV announcement of 22-May-18

==> picture [431 x 431] intentionally omitted <==

Oscar and Mt Hann Diamond Projects WESTERN AUSTRALIA

==> picture [158 x 246] intentionally omitted <==

==> picture [103 x 152] intentionally omitted <==

==> picture [81 x 109] intentionally omitted <==

Two outstanding diamond opportunities

• Australia’s premier diamond district, the Kimberley region of WA (world-class Argyle and Ellendale diamond mines)

• Regional resurgence following the recent discovery of microand macro-diamonds at the Little Spring Creek prospect by Lucapa Diamond Company (ASX: LOM)

• Innovative exploration approach applied to historical data rerating areas of known micro-diamond occurrences*

• Licence applications across two projects – Oscar Project and Mt Hann Project

• Low cost exploration activity reassessing historical geophysical anomalies at Mt Hann and Oscar

• Fieldwork to commence following granting of applications

==> picture [378 x 529] intentionally omitted <==

* Refer to DEV ASX announcement of 2-July-2018 for full details

17

==> picture [431 x 432] intentionally omitted <==

==> picture [81 x 109] intentionally omitted <==

Dundas Lithium Project WESTERN AUSTRALIA

==> picture [159 x 246] intentionally omitted <==

==> picture [104 x 151] intentionally omitted <==

Dundas - Key tenement in emerging lithium region

• South east of Norseman

==> picture [81 x 109] intentionally omitted <==

• Emerging lithium province:

• Tawana Resources NL’s Bald Hill lithium project (ASX: TAW)

• Pioneer Resources Ltd’s Pioneer Dome lithium project (ASX: PIO) and

• Liontown Resources Ltd’s Buldania lithium project (ASX: LTR)

• A 2km-long coincident lithium and beryllium anomaly that could be indicative of underlying pegmatites*

• Tenements granted 2018

• Assessing requirements as to Aboriginal Heritage prior to drilling

==> picture [596 x 344] intentionally omitted <==

19

* Refer to DEV ASX announcement of 10-Oct-17 for full details

West Arnhem Nabarlek Project

2019 Forward Plan ...

• Drilling planned for beginning of 2019 Field Season once all regulatory approvals complete

• Nabarlek targets prioritised as they lie within an established productive mineralisation system

• Progressing other Uranium prospects surround Nabarlek

Junee Copper-Gold Project

• Mapping and geochemical sampling has commenced to define drill targets within tenure

• Planned IP Geophysics at Billabong Creek Prospect

• Assessment of additional all Copper Gold Targets

==> picture [205 x 239] intentionally omitted <==

• Progressing towards a drilling program early 2019

Bogong Copper-Gold Project

• Commenced landowner engagement to secure land access agreements in advance of planned:

• IP Geophysics and Drilling

Oscar & Mt Hann Projects

• Reassess previous exploration geophysics and microdiamond occurrences for field targeting once tenements are granted

Dundas Project

• Regulatory approvals in place

• Progress to drilling once Aboriginal Heritage is resolved

20

Corporate Overview

Ca ital Structure – Pre Consolidation p

Shares

1,103M

Fully diluted 1,139M

Market Cap ~$4.4M (at 0.4c)

Cash $0.9M*

Ca ital Structure – Post Consolidation p

Shares

Shares 91.9M

Fully diluted 94.9M

Market Cap ~$4.4M (at 4.8c)

Cash $0.9M*

Major Shareholders Tim Goyder (Chairman) 25.3% Calm Holdin s 5.8% g To 20 ~55.6% p

Board & Management

Tim Go der Chairman y Brendan Bradle Mana in Director y g g ~~Investments~~ Br n Jones Non Exec. Director y Richard Hacker Non Exec. Director K m Verhe en Com an Secretar y y p y y

==> picture [170 x 110] intentionally omitted <==

PhosEnergy Limited (9.9%) – 3.45 million shares

==> picture [81 x 109] intentionally omitted <==

*As at 30 September 2018

21

Experienced exploration and development team

==> picture [363 x 443] intentionally omitted <==

Tim Goyder

CHAIRMAN

Perth-based mining investor with a strong record of successful investment and value creation in the Australian and international resources sector

Richard Hacker

NON-EXECUTIVE DIRECTOR

A Chartered Accountant (ICAA) and Chartered Secretary with 20+ years professional and corporate experience in the energy and resources sector

Brendan Bradley

MANAGING DIRECTOR

A Geologist with 20+ years of mineral exploration, mining and resource development experience in a broad range of geological settings

Bryn Jones

NON-EXECUTIVE DIRECTOR

Experienced in the evaluation, design, construction and operation of projects in various commodities from a technical and operational perspective

==> picture [81 x 109] intentionally omitted <==

22

==> picture [490 x 264] intentionally omitted <==

==> picture [490 x 265] intentionally omitted <==

==> picture [290 x 73] intentionally omitted <==

Contact Details

Level 2, 1292 Hay Street West Perth WA 6005, Australia

+61 8 9322 3990 +61 8 9322 5800

info@devexresources.com.au www.devexresources.com.au

Social

https://twitter.com/DevExResources - https://www.linkedin.com/company/devex resources/

Investor Relations

Read Corporate Nicholas Read +61 8 9388 1474 nicholas@readcorporate.com.au