EMU NL — Investor Presentation 2018

Nov 29, 2018

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Emu NL
Launch of 2019 season field work
30 November 2018
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Launch of 2019 season field work

• Field crews have mobilised to Emu’s Vidalita Project in Chile to kick off the 2019 field season

• Emu’s portable XRF analyser will be used to survey large areas for pathfinder elements to assist in setting drill targets in areas not yet assessed

• Newly defined vector to near-surface gold mineralisation to be field evaluated

• Geological interpretations undertaken during winter to be followed up

• Preparatory work for camp set up and reconditioning access roads begun

• Emu anticipates good results following the independent review that confirmed the discovery of a new epithermal system at Vidalita

Emu NL (ASX:EMU) is delighted to provide an exploration update of the Company’s activities as we head into the 2019 field season.

Interpretative work recognises vector to near-surface gold

Interpretative work on data from the 2018 aircore drilling campaign identified a major trend in strengthening gold grades and thicknesses (Figure 1). A fault zone, previously mapped but the significance of which went unrecognised until very recently, possibly forms the eastern edge of the Vidalita mineralised epithermal system on this section. Gold, ubiquitous in the overlying vuggy silica zone, increases in both grade and width towards this fault.

In the west of the section, hole 5300-5 intersected 24m @ 0.33g/t gold from 120m. In the east, this becomes 48m @ 0.64g/t gold from 44m in hole 5300-4 (announced on 18 July, 2018.)

While there is insufficient data to recognise a similar trend in the underlying diatreme breccia, which is core to this mineralised system, it is none the less postulated that it may exist. The previously drilled gold intercepts hint that it does: e.g., Hole 5300-2 intercepted 21m @ 0.53g/t gold from 157m.

The strike length of the mineralised zone associated with this fault is about 1,400 metres . Holes have been planned specifically to probe this fault – both on this section to the north where the vuggy silica blanket continues.

It is typical of this style of deposit to find a gold rich zone directly below the vuggy silica cap – examples of this can be seen at both the Salares Norte and the Alturas deposits. Vidalita is an interpreted analogue of these deposits; much higher grades are postulated to exist .

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Emu NL
Launch of 2019 season field work
30 November 2018
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Area to be targeted
for bonanza grade
gold
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Figure 1 Interpretive cross section 5300N.Note general increase in both gold grade and intercept thickness to the east (right). The area of possible gold mineralisation, shown as the red dash line, together with an interpreted 1,400m strike length (announced 27 September 2018), provides sufficient volume for a substantial gold orebody to exist.

Portable XRF assaying to speed up target assessment

Data from the last season has allowed Emu to recognise largely consistent proxies for gold mineralisation. Silver, arsenic, antimony, and mercury are recognised as being reasonable substitutes for gold analysis, in the first instance.

Emu geologists will be using a portable XRF (pXRF, X-ray fluorescence) unit to geochemically survey large areas of prospective ground. The pXRF is insensitive to low level gold detection (less than about 5 g/t gold), hence the need for proxies. That said, surveying is very rapid and the results instantaneous.

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Emu NL
Launch of 2019 season field work
30 November 2018
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Importantly, the use of a pXRF avoids the high costs of sample collection, preparation, transport, and laboratory assaying.

Geochemically anomalous areas will subsequently be sampled by standard techniques to assess gold grades. It is expected that these will constitute a small portion of the area surveyed.

Exact pXRF procedures will be trialled on an area already assayed by conventional techniques to ensure the methodology is effective in identifying anomalous areas.

Geological mapping to optimise hole placement

Rapid geological mapping will be undertaken to assess a number of as-yet-unchecked occurrences of advanced argillic alteration identified from satellite imagery. Argillic alteration is often indicative of gold mineralisation processes driven by epithermal emplacement. This follows from the review undertaken by our Chile based geological consultant that confirmed Emu’s interpretation that an epithermal system in the highly prospective and richly gold-endowed Maricunga Belt of Chile was discovered last field season.

Field crews mobilise to Vidalita

Two geological crews have now mobilised to Emu’s Vidalita Project in Chile. Their first tasks are to:

• Start geological field work to advance the six major targets which have yet to be drill tested. This work includes extensive surveying using the pXRF

• Manage the preparatory work required to provide access to the prospects following winter snows

• Oversee work required to establish the camp required for the drilling campaign

Investor enquiries: General Manager T +61 8 9226 4266 E info@emunl.com.au

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Emu NL
Launch of 2019 season field work
30 November 2018
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About the Vidalita and Jotahues Gold Projects, Maricunga Belt, Chile

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ojects, Maricunga Belt, Chile	ojects, Maricunga Belt, Chile
Maricunga Belt: Host to Very Large Gold Deposits
Salares Norte (Gold Fields)	3.1 Moz Au& 34 Moz Ag
La Coipa (Kinross, pre-mining)	1.3 Moz Au& 64 Moz Ag
Cerro Maricunga (Atacama Pacific)5.9 Moz Au& 4 Moz Ag
Marte-Lobo (Kinross)	6.2 Moz Au
Maricunga Mine (Kinross)	6.3 Moz Au
Vidalita (Emu)	?? Au
Caspiche project (Exeter)	19.8 Moz Au& 40Moz Ag
Cerro Casale (Barrick/Kinross)	25.4 Moz Au& 43Moz Ag
Alturas (Barrick)	6.8 Moz Au

The Vidalita and Jotahues gold projects are located in the Maricunga gold belt in the Atacama Region in northern Chile hosting numerous world class gold and silver projects. Emu’s projects cover an area of approximately 136 km[2] secured by mineral exploration concessions and host alteration and mineralisation that appear geologically similar to other high sulphidation gold deposits of the Maricunga gold belt. The projects are accessed using a network of roads that link Copiapó with the Refugio project (Kinross), Cerro Casale project (Barrick/Goldcorp) and the Caspiche project (Goldcorp). Refugio is located 30 km to the northwest of Vidalita.

The Company holds an Option to acquire a 100% interest in certain of the Vidalita and Jotahues concession packages from two Chilean companies. Prospex SpA and BLC SpA.

The Prospex area covers six concessions at Vidalita and is subject to a 2% NSR on any production. The Option may be exercised in November 2019 on payment of US$2M following expenditure of US$1M, the issue of 2.5M Emu shares. If Emu defines: (i) 0.5Moz of gold in measured resources, a further 5M ordinary shares will be issued; and (ii) 1Moz of gold in measured resources, a further 5M ordinary shares will be issued.

The BLC SpA area comprises of three concessions (Jotahues and Vidalota A&B) and is subject to a 1% NSR. There is no Option payment to be made.

In addition, Emu has pegged a concession in its own right, Arroyo Ancho. Portions of this are subject to an area of influence inclusion into the Prospex Option.

Emu continues to look for new mineral exploration, development, and mining opportunities within Australia and at various overseas jurisdictions.

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Emu NL
Launch of 2019 season field work
30 November 2018
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COMPETENT PERSON’S STATEMENT

Emu NL

ABN 50 127 291 927

ASX Code: EMU

10 Walker Ave West Perth, WA 6005

T +61 8 9226 4266 E info@emunl.com.au PO Box 1112 West Perth, WA 6872

Fully paid shares (listed)

100,354,728 (inc. 4m which Emu can buy back for nil consideration)

Contributing Shares (listed)

33,668,824 paid to $0.03, $0.03 to pay, no call before 31/12/2018

Options (unlisted)

4,750,000 unlisted options, exercisable at $0.10, expiring 20 December 2018 2,000,000 unlisted options exercisable at $0.11 expiring 20 December 2018 300,000 options, exercisable at $0.25, expiring 20 December 2018

Directors:

Peter Thomas Non-executive Chairman

Terry Streeter Non-Executive Director

Gavin Rutherford Non-Executive Director

Any details contained herein that pertain to exploration results, mineral resources or mineral reserves are based upon information compiled by Mr Marcus Flis, General Manager of Emu NL. Mr Flis is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and has sufficient experience in 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 Flis consents to the inclusion herein of the matters based upon his information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

As a result of a variety of risks, uncertainties and other factors, actual events and results may differ materially from any forward looking and other statements herein not purporting to be of historical fact. Any statements concerning mining reserves, resources and exploration results are forward looking in that they involve estimates based on assumptions. Forward looking statements are based on management’s beliefs, opinions and estimates as of the respective dates they are made. The Company does not assume any obligation to update forward looking statements even where beliefs, opinions and estimates change or should do so given changed circumstances and developments.

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