DEVEX RESOURCES LIMITED — Investor Presentation 2021

Oct 13, 2021

GAINING MOMENTUM – EXPLORING IN AUSTRALIA’S DISCOVERY HOTSPOTS RRS-Miningnews.net Conference

14 October 2021

ASX : DEV

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Important Information

• Forward Looking Statements

• This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are considered reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and the management. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Directors have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Presentation, except where required by law or the ASX listing rules.

 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 Exploration Results for the Sovereign Project are extracted from the ASX announcements titled “Diamond drilling underway at Sovereign Ni-Cu-PGE Project in the highly prospective Julimar Region, WA” released on 7[th] October 2021, “Large-scale, 12km long mafic-ultramafic intrusion at Sovereign Project, paving way for ground EM and initial diamond drilling” released on 17[th] August 2021, “Drilling confirms anomalous palladium, platinum and copper associated with a mafic-ultramafic intrusion at the Sovereign Project, WA” released on 27[th] April 2021 which is available on www.devexresources.com.au.

The information in this Presentation that relates to Exploration Results for the Junee Project are extracted from the ASX announcements titled “NSW Projects – Exploration Update” released on 21[st] September 2021, “New results significantly upgrade Junee Porphyry Copper-Gold Project, NSW” released on 26th July 2021, “Encouraging gold-copper assays from maiden air-core drilling into large-scale target at Junee Project, NSW“ released on 26[th] May 2021, “Extensive copper-gold soil anomaly strengthens potential for large-scale porphyry copper-gold system at Junee” released on 9[th] February 2021, “NSW Exploration Update – Basin Creek Gold Project and Junee Copper-Gold Project” release on 6[th] November 2020, “Geophysics upgrades priority drill targets at Junee Copper-Gold Project, NSW, as new drill programme commences” released on 3[rd] March 2020, and “DevEx Further Expands Potential of Junee Copper-Gold Project, NSW with Identification of Additional Porphyry Targets” released on the 5[th] March 2019 and “Porphyry Copper-Gold Targets Identified at Junee Project, Lachlan Fold Belt, NSW” released on the 24[th] January 2018, all of which are available on www.devexresources.com.au.

The information in this Presentation that relates to Exploration Results for the Nabarlek Project are extracted from the ASX announcements titled “DevEx ramps-up exploration at Nabarlek Uranium Project, NT after identifying new high-grade targets” released on 29[th] September 2021, “Large drill target defined below Nabarlek Uranium Mine, West Arnhem Project, NT” released on 9[th] October 2018, “Technical review recognises strong similarities between U40 prospect and the Coronation Hill U-Au-PGE deposit” released on the 9[th] May 2019, “UEQ Identifies High Grade Copper-Gold and Base Metal Potential at NT Uranium Prospects” released on the 4[th] October 2017 and “Higher Uranium Grades Returned from U40 Prospect – Nabarlek” released on the 16[th] December 2010, all of which are 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 has assessed it to be of relevance to shareholders and investors.

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Exploring in Australia’s discovery hot-spots

Nabarlek Project

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Sovereign Project
North Cobar Project
PERTH
SYDNEY
Junee & Basin Creek
Projects
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North Cobar Project
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• Strong strategic position in the emerging Julimar Complex – Chalice Mining’s highgrade palladium-nickel discovery highlights the opportunity

• Sovereign Project – 12km long differentiated mafic-ultramafic intrusion identified, consistent with upper portion of Julimar mafic-ultramafic intrusion

• Exploration gathering momentum with expanded ground EM survey and stratigraphic diamond drilling now underway

• Expansive exploration campaigns underway in a world-class copper-gold region , with ground tightly held by major miners:

• Junee Project : Advancing exploration in proven copper-gold belt, host to Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd)

  • RC / Diamond and in-fill air-core drilling scheduled for late October

• Basin Creek Project: Large gold and copper system defined in central Lachlan Fold Belt region

• North Cobar Project: Exploration ground holding north of the Cobar Cu-Au Mining Centre

• Nabarlek Project – Exploring for high-grade uranium and copper-gold surrounding the historical Nabarlek Uranium Mine (24 Mlbs @ 1.84% U3O8 produced)

• Multiple uranium prospects surrounding the Nabarlek Uranium Mine identified within the Company’s granted tenements

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Strong Foundations with Extensive Upside:
High-impact exploration in proven mineral regions
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Capital Structure	Capital Structure
Shares	308M
Options	17.3M
Market Cap	$86.2M (at 28c2)
Cash1	$16.6M
Assets	PhosEnergy Limited (5.3%): 6.1M Shares (unlisted) https://www.phosenergy.com/

Board & Management	Board & Management
Tim Goyder	Chairman
Brendan Bradley	ManagingDirector
Bryn Jones	Non Exec. Director
Richard Hacker	Non Exec. Director
Kym Verheyen	CompanySecretary

Major Shareholders Tim Goyder (Chairman) 17.3% Top 20 41%

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1 Current cash balance - 30 June 2021. Amounts and numbers have been rounded.

2 Closing price on 8th October 2021.

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Led by an invested and highly motivated team…

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Brendan Bradley

Tim Goyder CHAIRMAN

MANAGING DIRECTOR

• Mining executive with a strong track record of successful investment and value creation

• Geologist for 25+ years

• Extensive experience in exploration and development of epithermal gold deposits

• Chairman of Chalice Mining Ltd and Liontown Resources Ltd

• Highly experienced in intrusive related nickelcopper-PGE deposits

• Non Executive Director of Minerals 260 Ltd

• Senior management at Perilya Ltd, Dominion Mining Ltd and Kingsgate Consolidated Ltd

• Director of PhosEnergy Ltd

• • DevEx’s largest shareholder (17.3%)

Supported by an experienced technical team and board

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• Industrial Chemist with extensive experience in the uranium industry

• Experienced in the technical evaluation, construction and operation of projects in various commodities

• Managing Director of PhosEnergy Ltd, and Non-Executive Director of Boss Energy Ltd and Australian Rare Earths Ltd

Bryn Jones

NON-EXECUTIVE DIRECTOR

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• Chartered Accountant (ICAA) and Chartered Secretary

• 20+ years corporate and commercial experience in the energy and resources sector

Richard Hacker

• Executive for Chalice Mining Ltd

• NON-EXECUTIVE DIRECTOR

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• 35+ years experience

• Extensive experience in epithermal gold and porphyry copper-gold exploration and development in the Lachlan Fold Belt and abroad

• Former senior management with Golden Cross Resources Ltd, Silver City Minerals Ltd and Cyprus Minerals Corp

Chris Torrey

CHIEF GEOLOGIST NSW

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Developing a strategic position within a new exploration province

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Julimar Complex Nickel-Copper-PGE WESTERN AUSTRALIA

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PERTH
Sovereign Project
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Drilling for nickel-copper-platinum group element (PGE) deposits

Julimar Complex: New ground in a new nickel-copper-PGE region

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Recent discovery of high-grade palladium and associated nickel-copper-platinum group elements (Ni-Cu-PGE) by Chalice Mining Limited (ASX:CHN) has kicked off an exploration boom in the region

Sovereign Project located between the Chalice discovery and the Yarawindah Brook Ni-Cu-PGE Project (Caspin Resources Limited, ASX:CPN)

• Large 12km-long Sovereign Mafic-Ultramafic Intrusion defined with no previous Ni-Cu-PGE exploration

The Sovereign Project includes:

• 1. East: (100%-DEV tenure) no prior exploration within this newly-granted area overlying several prospective targets

2. West: Earn-In Agreement with Australian Silica Quartz Group Ltd (ASQ) to earn 50% in the mineral and metal rights (excluding bauxite)

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See ASX : DEV Announcement 17[th] August 2021. See Slide 21 for References. Tenement outlines held by Chalice and Caspin are combined for context.

Sovereign Project: 12km long mafic-ultramafic intrusion indicates similar geology to the Gonneville Intrusion

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Large Scale Air-core drilling and magnetics continues to define the Sovereign Intrusion over a strike length of 12km Right Rocks Range of rocks consistent with the upper portions of a differentiated mafic-ultramafic intrusion Right Age Metamorphism of mafic-ultramafic rocks suggestive of Archaean age to the Sovereign Intrusion Well Ni-Cu-PGE mineralisation discovered within Positioned mafic-ultramafic intrusions north and south of the Sovereign Intrusion at Gonneville (ASX:CHN) and Yarabrook Hill (ASX:CPN)

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See ASX : DEV Announcement 17[th] August 2021.

Sovereign Nickel-Copper-PGE Project: Maintaining momentum

Next Steps:

• Extensive ground EM survey now underway over the larger intrusion to map conductors beneath the gabbro

• In parallel, maiden diamond drilling is underway to test the geometry and extent of the intrusion

• Ground EM conductors will be fast-tracked to drilling

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NSW Gold, Copper-Gold Portfolio
Junee Project
Basin Creek Project
North Cobar
North Cobar Project
SYDNEY
Junee & Basin Creek
Projects
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Large-scale gold and copper-gold potential, tightly held by major miners Encouraging early drilling campaigns

DevEx has built a sizeable (100%-owned) portfolio amongst mining majors

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1 A world-class gold, copper-gold belt

Host to Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd), as well as several large-scale gold deposits including the Cowal Gold Mine (Evolution Mining Ltd) and the McPhillamys Gold deposit (Regis Resources Limited)

2 Major explorers within the Junee-Narromine Volcanic Belt Extensive tenure and exploration activity in the region by major explorers including: Newmont Goldcorp Exploration Pty Ltd | Evolution Mining Ltd | Sandfire Resources Limited

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• | Junee Copper Gold Project | Basin Creek Gold Project

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See Slide 21 for References.

: Junee Project Under-explored southern extension of the Macquarie Arc

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Exploring for “Cadia-Ridgeway type” porphyry Cu-Au mineralisation:

• 2017: Re-rating with Government mapping identifying porphyry monzonite intrusion (Cu-Au bearing Cooba Monzonite,) contemporaneous with the Cu-Au bearing Northparkes and Cadia Ridgeway porphyry intrusions[2]

• +20km of prospective strike

• 2020: DevEx’s exploration has identified several porphyry Cu-Au targets

2021 Drilling: Latest exploration has

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See ASX : DEV Announcement 26[th] July 2021; 3[rd] March 2020 and 9[th] February 2021. See Slide 21 for References.

Underlay image of RTP Magnetics.

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Junee Project: Coincident Cu-Au mineralization overlying IP chargeability anomalies

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IP Chargeability
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• Large Porphyry Cu-Au Target identified at Nangus Road Prospect

• Wide-spaced (400m x 200m) drilling defines extensive Cu-Au bedrock mineralization – ~2km length.

• Gold grades up to 3.5g/t Au

• Cu-Au bedrock results are also supported by anomalous pathfinder elements consistent with a porphyry Cu-Au system

• Close association of IP chargeability highs with the Cu-Au anomaly

See ASX : DEV Announcement 26[th] July 2021; 26[th] May 2021

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Junee Project: Large-scale Nangus Road target

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Billabong Creek
IP Chargeability
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See ASX : DEV Announcement 26[th] July 2021

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Nabarlek Project Uranium, Copper-Gold NORTHERN TERRITORY

Nabarlek Uranium Project

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High-grade uranium-copper-gold opportunity in a proven uranium system DevEx well positioned to benefit from an improving uranium market

Major uranium asset in Australia’s highest-grade uranium province

The Alligator Rivers Uranium Province, NT (ARUP)

• • 500 Million Pounds U3O8 endowment (mined and current

• Resources[1,2] )

• Significant gold province “ forgotten in time[3,4] ” – unexplored

DevEx’s Nabarlek Project (100%)

• Centred on the historical Nabarlek Uranium Mine

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• Production History : 24 Mlbs @ 1.84% U3O8

• DevEx holds a dominant ground position of [+] 4,700km[2] including

  • Granted Tenure: 1 Mining Lease and three exploration tenements

• Recent compilation and assessment of 50 years of exploration data

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Multiple new uranium exploration drill targets beneath and along
trend from historical high-grade intercepts
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See Slide 21 for References.

Nabarlek Project: Exploring for high-grade uranium

Near-mine uranium exploration focus:

• Multiple uranium prospects to explore

Nabarlek South Prospect:

• Drilling to test beneath a cluster of highgrade uranium intercepts

Nabarlek Pit Prospect:

• Drilling to test NE edge of the uranium pit

• Uranium-Copper-Gold Fault Corridors:

• Zeus to U40

• KP Prospect

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Multiple drill-ready, high-grade uranium
prospects on the doorstep of Australia’s
highest grade uranium mine….
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See ASX : DEV Announcement 29[th] Sept 2021.

Nabarlek South Prospect: Cluster of high-grade uranium intercepts

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• 1 km south of the Nabarlek Uranium Mine

• Uranium mineralisation associated at junction of Nabarlek Fault (host to the Nabarlek uranium deposit) and Gabo Fault

• A cluster of high-grade uranium intercepts defines a north-east plunging uranium shoot

• Priority Drill Target : Application to drill priority diamond drill holes awaiting approval from the NT Resources Regulator

Nabarlek South – 3D View of drilling looking south west

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See ASX : DEV Announcement 29[th] Sept 2021.

The Nabarlek Deposit: Where it is all about the grade !!

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• Nabarlek Uranium Mineralisation: Significant concentration of Uranium Mineralisation mined from the pit

• Strong Structural Control: Strong control to high-grade uranium mineralisation adjacent to the North Fault

• Near-Mine Exploration : DevEx is targeting extensions to the Nabarlek Uranium Deposit

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See ASX : DEV Announcement 9[th ] October 2018.

: Next Steps Exploration timeline

2021	Oct 21	Oct 21		Nov 21	Dec 21	Jan 22	Feb 22	Mar 22	Apr 22	May 22
Sovereign Project, Julimar Complex, WA
• Expanded ground EM C		ommenced
• RC / Diamond drilling C		ommenced
• Air-core drilling program (eastern side of intrusion)
• Surface geochemistry (eastern side of intrusion)
Junee Project, NSW
• In-fill air-core drilling program at Nangus Road
• RC and diamond drilling Nangus Road
• Follow-up RC and diamond drilling program
Nabarlek Project, NT
• Surface mapping and geochemistry Com		menced
• Ground geophysics (incl Induced Polarisation)
• RC and Diamond drilling				Dry Season

Proposed timeline – dates and activity are indicative and subject to external factors such as regulatory approvals, contractor availability and delays, COVID lockdowns, current farming cycle and access (including weather), and upcoming exploration results.

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Additional References

Julimar Complex & Sovereign Project - Slides 7-9:

1. Chalice Mining Limited (ASX:CHN) ASX announcement “Twelfth High-Grade Zone Defined at Julimar” on 3[rd] August 2021.

2. Caspin Resources Limited (ASX:CPN) ASX announcement “Broad Sulphide Zones Intersected at Yarabrook Hill” on 24[th] May 2021.

3. Harrison P. H., 1984. The mineral potential of layered igneous complexes within the Western Gneiss Terrain. In: Professional papers for 1984 of the Geol Surv of W. A. 19. Gov Printing Office, Perth, pp 37–54.

4. Chalice Gold Mines Limited (ASX:CHN) ASX announcement “Major new 6.5km-long EM anomaly identified at Julimar” on 22nd September 2020.

Central Lachlan Fold Belt Region & Junee Project – Slides 11-14:

1. Alkane Resources Ltd (ASX:ALK) ASX Announcement “Discovery of Significant Porphyry Gold-Copper Mineralisation at Boda Prospect within Northern Molong Porphyry Project (NSW)” on 9th September 2019.

2. 2019GSNSW East Riverina Mapping Project - Some Highlights and Implications, Eastlake and Trigg.

Nabarlek Project – Slides 16-19:

1. Production History:

McKay, A.D & Miezitis, Y. 2001. Australia’s uranium resources, geology and development of deposits. AGSO – Geoscience Australia, Mineral Resource Report 1.

ERA Annual Production Reports 2001 to 2018.

2. Mineral Resource:

Vimy Resources (ASX:VMY) Mineral Resource Statement 20 March 2019.

• Energy Resources of Australia Ltd (ASX:ERA) Annual Statement of Reserves and Resources January 2018.

• Hancock M C, Maas R, Wilde A R 1990 - Jabiluka Uranium-Gold deposits: in Hughes F E (Ed.), 1990 Geology of the Mineral Deposits of Australia & Papua New Guinea The AusIMM, Melbourne Mono 14, v1 pp 785-793.

• Carville D P, Leckie J F, Moorhead C F, Rayner J G, Durbin A A 1990 - Coronation Hill Gold-PlatinumPalladium deposit: in Hughes F E (Ed.), 1990 Geology of the Mineral Deposits of Australia & Papua New Guinea The AusIMM, Melbourne Mono 14, v1 pp 759-762.

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Contact Details

Level 3, 1292 Hay Street West Perth WA 6005, Australia

+61 8 6186 9490 +61 8 6186 9495

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

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