ELEMENT 25 LIMITED — AGM Information 2016

Nov 23, 2016

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AGM Update

November 2016

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Disclaimer
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This presentation contains an overview of Montezuma Mining Company Ltd and its associated entities (Montezuma) and their respective activities and operations. The contents of this presentation, including matters relating to the geology of Montezuma’s projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which have not been subject to any independent verification.

This presentation contains a number of forward-looking statements. Known and unknown risks and uncertainties, and factors outside of Montezuma’s control, may cause the actual results, performance and achievements of Montezuma to differ materially from those expressed or implied in this presentation.

To the maximum extent permitted by law, Montezuma does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Montezuma, and will not be responsible for any loss or damage arising from the use of the information.

The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue. Current and potential investors and shareholders should seek independent advice before making any investment decision in regard to Montezuma or its activities.

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Overview
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n Board of Directors

n Market Data

• ¨ Seamus Cornelius

(lawyer)

• ¨ Justin Brown

(geologist)

• ¨ John Ribbons

(accountant)

n Management

Chairman

Executive Director

Director

• ¨ Shares on Issue: 83.5M

• ¨ Share Price: $0.13 ¨ Market Cap: $10.8M ¨ Cash: ~$5.3M ¨ Investments: ~$5.2M ¨ Debt: Nil

• ¨ Dave O’Neill

Exploration Manager

(formerly Exploration Manager at Western Areas NL)

• ¨ EV ~$0.3M

• ¨ Top 20 Shareholders: ~60%

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Corporate Strategy

n Capital management through sensible corporate transactions such as:

• ¨ Acting as vendor in new companies – equity holding provides upside to all assets in newco.

• ¨ Asset sales – immediate cash injection onto the balance sheet.

• ¨ Joint Ventures – minimise spend while preserving upside exposure.

• n Exploration on priority targets to retain 100% exposure to best targets, funded by monetisation of non-core projects/holdings.

Since IPO, the Montezuma capital management strategy has delivered over $20M

in exploration expenditure and increased NTA’s to over $10M while preserving the capital structure to maintain leverage for shareholders.

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Key Investments

The current portfolio

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Total current market value of approximately $5.16M
Additional leverage
provided by 4M 12.5c
BUX option position
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*Based on ASX closing prices on 23 November 2016.

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Strategic Overview
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n Strategy 1 – Growth through discovery or acquisition:

¨ Discovery

n Priority gold targets are drill ready at Yamarna and Holleton.

n Developing pipeline at Green Dam, Leinster, Lake Johnstone etc.

n Ongoing project generation work to identify new opportunities for exploration success.

¨ Acquisition:

n Investment portfolio maturing – war chest for acquisitions.

n Ideally targeting near term production assets in the $20-$30M range.

n Strategy 2 – Protecting shareholder leverage:

n Prioritising generating working capital through asset transactions not new issues.

n Grow net tangible assets base as a mechanism for downside protection.

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Projects

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• § Targeted tenement acquisition ongoing in Western Australia.

• § Ongoing review of acquisition targets.

• § Currently hold tenements for various commodities in Western Australia.

• § Priority gold targets at 100% owned Yamarna Project in the Yamarna Greenstone Belt.

• § Recently acquired 100% owned Holleton Project in the Holleton Greenston Belt in southwest WA.

• § Others (for example):

• § Butcherbird Manganese and Copper Project approximately 120km south of Newman.

• § Green Dam Ni-Cu-PGE sulphide/Gold project.

• § Newly acquired ground packages at Lake Johnston and Leinster. Prospective for nickel and gold.

• § Residual iron ore royalty at Mt Padbury.

• § Residual gold royalty at Peak Hill.

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The Yamarna Project:
Regional Context
RYVITA TARGET
§ Location 20km along strike from Aircore geochemical
anomaly
Gruyere (6.2 M oz resource) JATZ PROSPECT
Multiple Ore Grade RC Drill
enhances prospectivity. Intersections within fold nose –stockwork veining
RITZ TARGET
§ Recent structural and
Aircore geochemical anomaly
Prospective structural position
geophysical modelling suggests
parallels to GOR ground.
§ Gruyere aged structures
LE SNAK PROSPECT
identified. Potentially mineralised
structure intersects felsic
intrusive
§ Jatz gold mineralisation hosted
in broad stockwork vein system
on folded felsic/mafic contact.
§
New structural targets identified
with coincident geochemical CRUSKIT PROSPECT
Numerous Au Mineralised Air-core
anomalism at Ritz, Le Snak, intersections along major structural
corridor and contact
Cruskit and Ryvita.
Gravity overlaying magnetics (1VD TMI) imagery
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website reference: http://goldroad.com.au/media/57e1ebd7caafd575889042.pdf
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The Jatz Gold Trend
Significant High Grade
Gold Mineralised
YAAC339
Structure Over 1km Long 7m @ 185 ppb Au
Open to the North
YARC041
2m @ 9.0 g/t Au
Incl. 1m @ 17.5 g/t Au
YARC016
4m @ 1.2 g/t Au
YARC014 Incl. 2m @ 1.8 g/t Au
2m @ 1.1 g/t Au
YARC013
1m @ 1. 1 g/t Au
YARC017
9m @ 0.7 g/t Au
Incl. 1m @ 3.8 g/t Au
YARC044
1m @ 1.8 g/t Au
YARC002
4m @ 1.9 g/t Au
Incl. 2m @ 3.2 g/t Au
YARC001
7m @ 5.4 g/t Au
Incl. 2m @ 17.5 g/t Au
Possible follow up RC hole
NEW RC
INTERSECTION
PREVIOUS RC YARC055
INTERSECTION 2m @ 7.9 g/t Au
Incl. 1m @ 15.5 g/t Au
0 250 500m
Note: all intercepts quoted as downhole widths
Note: All intersections are downhole widths
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The Big Picture:

The Regional Greenstone Package at Jatz

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E38/2889
YAAC457 YAAC373
4m @ 269 ppb Au 11m @ 144 ppb Au
(BOH Basement)
RYVITA
PROSPECT
YARC041
2m @ 9.0 g/t Au
Incl. 1m @ 17.5 g/t Au
YAAC236
14m @ 254 ppb Au
(BOH Basement)
YAAC441
YARC017
1m @ 219 ppb Au YAAC233
9m @ 0.7 g/t Au
1m @ 1.1 g/t Au
Incl. 1m @ 3.8 g/t Au
Drillhole Max. Gold
YAAC251
Downhole (ppb)
9m @ 1.6 g/t Au
JATZ Incl. 1m @ 12.5 g/t Au
PROSPECT
YAAC385 RITZ
4m @ 457 ppb Au YARC001
Incl. 1m @ 1.6 g/t Au PROSPECT 7m @ 5.4 g/t Au
(BOH Basement) Incl. 2m @ 17.5 g/t Au
INTERSECTIONAIRCORE YARC0552m @ 7.9 g/t Au
LE SNAK 2m @ 7.9 g/t Au Incl. 1m @ 15.5 g/t Au
YAAC478 Incl. 1m @ 15.5 g/t Au
8m @ 375 ppb Au PROSPECT
RC DRILLING
INTERSECTION
YAAC408 YAAC483
7m @ 192 ppb Au 1m @ 315 ppb Au
0 0.5 1km (BOH Basement)
Note: All intersections are downhole widths
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Holleton Project

Effective Project Generation at Work

§ Acquisition costs negligible: application fees only.

§ Early work done by Independence Group NL in 2008/09. next slide shows this area in detail § Multiple >100ppb soil anomalies providing a pipeline targets. § “Walk up drill targets” include the Brahma gold prospect, a 2.5km long gold in soil anomaly with extensive gold anomalism in aircore drilling. § Numerous other targets amenable to cheap exploration testing. § A “Free Hit” from previous work. § Land access talks at advanced stage

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Brahma

Unfinished Business

• § Coherent gold in soil anomaly 2.5 km in strike.

• § Confirmed by aircore drill traverses along the entire strike length.

• § Only three deeper holes drilled and all three returned significant gold anomalism.

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Brahma

Unfinished Business

§ Basement mineralisation proven. § Scale potential evident. § More drilling required.

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What’s Next?
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n Jatz: Follow up RC drilling at Jatz to follow up high grade results:

• Heritage clearances

COMPLETE

• POW approvals

COMPLETE

• Drilling COMMENCING ASAP

n Ryvita, Le Snak and Ritz: Follow up aircore drilling to delineate the strike extent of the targets and build the exploration pipeline.

n Holleton: Aircore and deeper RC drilling to commence ASAP once land access agreements and POW’s are in place.

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2017 Vision
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Montezuma is well funded and strategically positioned for a recovering commodities market…

§ Strong financial position – cash and investments.

• § Strong cash position.

• § Significant liquid investments in listed entities.

• § Low cost structure.

• § Tight capital structure.

• § Experienced board and management team.

• § History of transactional and technical success.

• § Existing assets present exciting potential for exploration success.

• § Yamarna – GOLD: follow up on high grade gold positions.

• § Holleton – GOLD: very cheap acquisition, very exciting potential.

• § Other: MANGANESE, COPPER, NICKEL etc. - a pipeline for future growth.

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Contact
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Montezuma Mining Company Phone: +61 8 6315 1400 Facsimile: +61 8 9486 7093 31 Ventnor Avenue, West Perth WA 6005 PO Box 910, West Perth WA 6872 www.montezuma.com.au

Justin Brown Executive Director P: +61-8 6315 1400 E: jbrown@montezuma.com.au

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Questions

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Competent person
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• n The information in this report that relates to Exploration Results, Mineral Resources and Mineral Reserves is based on information compiled by Mr Justin Brown who is a member of the Australasian Institute of Mining and Metallurgy. At the time that the Exploration Results, Mineral Resources and Mineral Reserves were compiled, Mr Brown is an employee of Montezuma Mining Company Ltd. Mr Brown is a geologist and has sufficient experience which 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’. Mr Brown consents to the inclusion of this information in the form and context in which it appears in this report.

• n Please note with regard to exploration targets, the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.

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