ELEMENT 25 LIMITED — Investor Presentation 2015

Nov 2, 2015

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The Yamarna Project

A highly leveraged entry into an emerging gold province.

November 2015

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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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 Board of Directors

 Market Data

• Seamus Cornelius

Chairman

• Shares on Issue: 70.5M

• Share Price: $0.28  Market Cap: $19.7M  Cash: ~$6.2M  Investments: ~$1.8M  Debt: Nil  EV ~$11.7M  Top 20 Shareholders: ~71%

• Justin Brown

Executive Director

• John Ribbons Director

 Management

• Bradley Drabsch Exploration Manager

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CASH AND INVESTMENTS ~$8M
ENTERPRISE VALUE ~$12M
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Projects
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• Targeted tenement acquisition ongoing in Western Australia.

• Continued review of domestic and overseas acquisition targets to deliver quality exploration and near term production opportunities.

• Currently holding tenements in the highly prospective Murchison, Gascoyne and Yamarna regions of Western Australia.

• Potential new gold discovery at 100% owned Yamarna Project in the Yamarna Greenstone Belt.

• 100% owned Butcherbird Manganese and Copper Project straddles the Great Northern Highway approximately 120km south of Newman.

• Green Dam Ni-Cu-PGE sulphide prospect desktop review and data gathering underway.

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The Yamarna Project

• The Yamarna Belt is geologically similar to the prolific Kalgoorlie Gold Belt and has been the focus of limited exploration.

• Work so far has yielded in excess of six million .

• ounces of gold in resource[2]

• Discoveries include the recently announced 5.62M oz discovery at Gruyere[1] by Gold Road Resources Ltd (“GOR”).

• Montezuma’s ground is located along strike from GOR and contains demonstrated bedrock mineralisation up to 2.7 g/t and widespread regional anomalism in cover sequences.

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1Website reference http://www.goldroad.com.au/reports/431bxcg4t7pqdd.pdf

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Next Door to a Giant
 Tenure and target areas immediately
YAM 13
adjacent to GOR’s Yamarna Project.
GRUYERE
5.62Moz Au
 Comparative Enterprise Values:
 GOR ~$300M
DOROTHY HILLS WEST  MZM ~$12M
DOROTHY HILLS EAST
 Proximity to GOR potentially lowers the
threshold for a commercial discovery.
YAM 14 DOROTHY HILLS SOUTH

E38/2999 Aggressive programme underway with
E38/2889 early success from maiden drilling
YAM 15 programme

MONTEZUMA Relatively low cost to test the potential
PRIORITY provides potential leverage for investors
TARGET AREA
who join the register early.
SINGLE SLICE
TENURE
MZM
GOR
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GRUYERE
5.62Moz Au [2 ]
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• Regionally significant soil anomaly identified from historic soil sampling by Western Mining Corporation.

• Anomalous area covers approximately 20 km[2] and contains two sub parallel linear anomalies over 5 km in strike length respectively.

• No drilling recorded within tenement before now.

• Geochemical anomaly is coincident with granite/greenstone contact.

• Strong parallels to the recent gold discoveries by GOR (>6M oz Au[2] ).

• 2Website reference:

http://www.goldroad.com.au/reports/431bxcg4t7pqdd.pdf

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GRUYERE
5.62Moz Au [2 ]
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• Regional gravity data highlights a large gravity high.

• Anomaly maps a regional scale geological corridor approximately 20km in strike length.

• Geochemical anomalies positioned on the edge of the anomaly shows similarities to the Gruyere discovery by GOR.

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GRUYERE
5.62Moz Au [2 ]
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 Geochemical anomalies coincident with favourable structural positions.

• Coincident with an embayment in an interpreted granite body and a regional scale shear zone.

• Structural interpretation further supports aggressive exploration.

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Maiden Drilling Programme Now Completed
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• 202 vertical aircore holes drilled to blade refusal for

• ~7,500m to test for sub surface anomalism.

• Widespread, strong anomalism found at Jatz and Captains in multiple horizons.

• Ore grade basement hosted mineralisation found at in greenstone rocks at Jatz.

• Two regional scale target corridors confirmed.

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Encouraging Geological Complexity
(bottom of hole geology log plot)
0 50 100
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Mineralisation Confirmed Along Regional Trends
(selected mineralised intercepts shown)
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Note: all intercepts quoted as downhole widths

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Note: all intercepts quoted as downhole widths

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Schematic Regolith Interpretation
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A

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~ 10m
Recent Cover Interval
Eg. 7m @ 87ppb Au
4m – 11m YAAC001
~ 40m
Palaeo-Surface Interval
BASEMENT INTERVAL Eg 4m @ 2.28 g/t Au
16m – 20m YAAC016
Eg. 1m @ 2.71 g/t Au
13m-14m EOH YAAC027 Archaean/Permian Interface
Eg. 4m @ 338ppb Au
24m – 28m YAAC018
0 500 1000m
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What’s Next?
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 The technical team is currently designing a follow up RC programme comprising an initial estimated 5-10,000m.

• Larger rig will allow for greater depth penetration to test beneath both the Jatz and Captains Prospects.

• Current planning has drilling commencing in November.

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2015/2016 Vision
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Montezuma is well funded and strategically positioned…

• Strong financial position – cash and investments.

• Strong cash position

• Significant liquid investments in listed entities

• Low cost structure

• Experienced Board and strong management team.

• History of transactional and technical success.

• Existing assets present exciting potential for exploration success.

• Yamarna – GOLD, follow up on exciting initial results!

• Other: Butcherbird (MANGANESE, COPPER), Green Dam (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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• The information in this report that relates to Exploration Results, Mineral Resources and Mineral Reserves is based on information compiled by Mr Bradley Drabsch 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 Drabsch is an employee of Montezuma Mining Company Ltd. Mr Drabsch 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 Drabsch consents to the inclusion of this information in the form and context in which it appears in this report.

• 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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