EMU NL — Investor Presentation 2024

Apr 16, 2024

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PRECIOUS MINERALS AND BASE METALS EXPLORER

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INVESTOR PRESENTATION
April 2024 ASX: EMU
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FORWARD LOOKING STATEMENTS

This presentation has been prepared by EMU NL. This document contains background information about EMU NL current at the date of this presentation. The presentation is in summary form and does not purport be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, EMU NL, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of EMU NL. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, EMU NL does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

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COMPETENT PERSONS STATEMENT

Competent Person Disclosure

The information in this disclosure relates to the exploration activities undertaken by EMU NL conducted over its exploration tenements in Australia. All information in this presentation has previously been recorded in the public domain.

EMU NL is not aware of any new information or data that materially affects the information included in the original market announcements.

The information in this presentation is based on, and fairly represents information and supporting documentation compiled by Mr Kurtis Dunstone, a Competent Person who is a full-time employee of EMU NL. Mr Dunstone is a member of the Australian Institute of Geoscientists and has sufficient experience in the activities in which he undertakes to quality 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 Dunstone consents to the inclusion herein of the matters based upon his information in the form and context in which it appears, and the Company confirms the form and context in which the Competent Persons findings are presented, have not been materially modified from the relevant original market announcements.

Authorisation

This presentation has been authorized for release by Chief Executive Officer

INVESTMENT HIGHLIGHTS

WHY EMU?

• Fiery Creek Cu Mo system potentially emerging as a significant Australian porphry discovery

• Substantial gold mineralisation at multiple locations throughout Georgetown Project with strong newsflow expected from field work to commence in late April 2024

• Extensive base metals and previous mineral endownment at Georgetown with the potential to deliver a number of economic possibilities

• Expanding high grade gold and tungsten resources open for extension at Badja Project

• Highly experienced discovery team with decades of successful project delivery

• EMU debt free, market capitisation of only $2.0m with a potential world class asset

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Compelling Investment Opportunity

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CORPORATE SNAPSHOT

SHARE CAPITAL POST CONSOLIDATION*

FULLY PAID SHARES (LISTED)

67,492,376

Including 620k which EMU can buy back for nil consideration.

CONTRIBUTING SHARES (LISTED)

1,349,502

OPTIONS (UNLISTED)

5,748,454 options to acquire fully paid shares exercisable at $0.30 each, on or before 7/10/2024.

10,579,167 options to acquire fully paid shares exercisable at $0.09 by 31/12/2026

CONTRIBUTING SHARES (UNLISTED)

1,166,667 contributing shares paid to $0.90, $1.20 to pay on call, no call before 31/12/2025

Paid to $0.90, $0.90 to pay

PERFORMANCE RIGHTS

MARKET CAPITALISATION

$2.025 Million

1,619,048 performance rights which convert into 1,619,048 fully paid ordinary shares upon EMU announcing JORC Resource/Reserve conditions at Gnows Nest Gold Project

as of 11 April 2024

• Effective date of consolidation 22 April 2024

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OUR BOARD

PETER THOMAS TERRY STREETER GAVIN RUTHERFORD TIM STAERMOSE NON-EXECUTIVE CHAIRMAN NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR

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Mr Thomas is a high energy, pragmatic corporate engineer with astute commercial acumen and business expertise. Mr Thomas is Chairman of Middle Island Resources and a Past Chairman of Image Resources and Sandfire Resources.

Mr Streeter has extensive experience in funding, listing and overseeing junior explorers in all exploration and economic cycles and has served in various roles in the nickel sulphide industry for over 30 years including Jubilee Mines and Western Areas Limited.

Following a successful background in Agribusiness on both domestic and international stages, Mr Rutherford has spent over 20 years in the Mining Services / Fabrication / Contracting sector.

Mr Staermose has 26 years equity capital markets and equity research experience. He worked at international sell-side equity brokerage firms in South Korea and Hong Kong. Now on the buy side, he is the Founder and investment manager for African Lions Fund Ltd, based in Tanzania.

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EXPLORATION PROJECTS

GEORGETOWN PROJECT

SUBSTANTIAL SCALE MINERAL ENDOWMENT, FARM IN FOR 80% INTEREST

• 3 exploration permits covering 850km[2] in the Georgetown mining district,

• A substantial mineral endowment identified within Georgetown mining district with more than 1,000 mines, prospects and identified mineral occurrences.

• Significant historical gold production

• Little systematic modern exploration

• A prospective host region for critical minerals

• Prospective for gold, lithium, silver, lead, zinc, copper, tin, tantalum, niobium, uranium, fluorine and molybdenite.

• Silver-lead targets identified at Snake Creek and Munitions Creek prospects with historic zinc targets.

• Confirmed copper silver targets at Fiery Creek defined by large circular magnetic anomaly with associated outcropping copper, silver veining.

• Fiery Creek is interpreted to represent a potentially shallow constrained porphyry Cu Mo system. If it replicates successful global discoveries, EMU is targeting 100’s of millions of tonnes of bulk mineable copper and other metals.

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GEORGETOWN

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EXPLORATION PROJECTS

GEORGETOWN PROJECT

FIELD SURVEYS CONFIRM SUBSTANTIAL MINERALISATION

• 18% copper (180,100ppm) and up to 6.4 ounces silver (200 g/t) from rock samples in broad quartz breccia hosted veins at Fiery Creek

• Extensive 750m x 750m intrusive related, north-south striking, outcropping copper veining up to 2m wide identified from initial field mapping

• Veining displays extensive secondary copper mineralisation at surface

• Multi element assay results indicate the possibility of a significant copper dominant, polymetallic system with pathfinder element anomalism widespread

• Significant historic gold results from Turtle Arm and Camp Oven Creek prospect areas.

• Rock chip samples report up to 35.4 ounces per tonne (1,100 g/t) silver and 26% (261,000ppm) lead from Snake Creek prospect

• Extensive pegmatite veining up to 50m wide and striking approximately 2km observed in Fiery Creek and Snake Creek tenements

• *ASX Release “Copper Silver Lead Assay Results Pegmatite Fields Georgetown” 5 October 2023

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GEORGETOWN

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EXPLORATION PROJECTS

GEORGETOWN PROJECT

SIGNIFICANT GOLD PROSPECTIVITY

• Camp Oven Creek historic surface rock assay results ranging from 12.9 up to 224 g/t gold and 24 to 135 g/t silver

• 15.4 g/t gold assay results from rock samples at Dagworth prospect

• 15 historic rock values greater than 31.1 g/t gold (> 1 Ounce) identified from zones in the Camp Oven Creek, 130 Quartz Vein and Quartz 250 Prospects

• Three historic rock samples in the Quartz 130 prospect with values ranging from 51 g/t gold to 73 g/t gold.

• Historic drilling intersects at Rhyolite Breccia/Turtle Arm returned values of 2m at 15.8g/t Au and 3m at 2.8g/t Au.

• 86 historic rock samples greater than 1 g/t gold with a weighted average of 17.3 g/t within Georgetown EPM 27667 - NW Camp Oven Creek/Turtle Arm quadrant.

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• Rock samples from recent EMU field work returned 36.1 g/t gold and 25.6 g/t gold respectively from the Sandy Creek prospect just south of Georgetown.

• Limited historic drilling at Munitions Creek (EPM 27642) intersected values over 4m at 2.73/t Au and 1m at 10.85g/t Au.

• ASX Release “EMU Records Gold Assays to 36.1 g/t at Georgetown QLD” 7 December 2023

GEORGETOWN

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EXPLORATION PROJECTS

BADJA PROJECT– GOLD, TUNGSTEN, LITHIUM

HIGH GRADE HISTORIC GOLD MINE , Tungsten and Lithium discoveries

• Gold orebodies at Gnows Nest, Monte Cristo, Flying Emu, Watertank Hill

• High grade tungsten discovery at Monte Cristo Prospect

• Spodumene discovery September 2023

• Gnows Nest Gold Mine recorded historic production of ~27,925oz at a recovered grade of 22g/t Au between 1923 and 1941. Mine closed due water ingress and labour shortages

• 28km of RC and Aircore drilling by EMU since September 2020

• Estimated 40,000oz JORC 2012 resource estimate completed

• Shallow Mineral Resource open to depth and along strike with significant depth potential

• Extensive exploration upside potential along 9km of gold bearing structure

• Located within same greenstone belt hosting the world-class Golden Grove copperzinc mine

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• Significant high grade tungsten discovery at Monte Cristo with conceptual modelling of granitic source requiring evaluation

• Spodumene discovered recently following up on Li pathfinders in soils highlighting significant prospectivity for project wide lithium mineralisation

BADJA GOLD TUNGSTEN LITHIUM WA

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EXPLORATION PROJECTS

BADJA PROJECT - GNOWS NEST GOLD PROSPECT

Gold Assay results at Gnows Nest from Emu drilling programmes*

• 4m at 20.40g/t gold from 51m including; • 1m at 57.41g/t gold from 52m and • 1m at 16.86g/t gold from 54m

• 4m at 18.32g/t gold from 95m including; • 1m at 17.53g/t gold from 95m; and • 1m at 51.66g/t gold from 96m

• 3m at 42.18g/t gold from 77m including; • 1m at 89.57g/t gold from 78m; and • 1m at 32.64g/t gold from 79m

• 2m at 26.88g/t gold from 60m including: • 1m at 53.05g/t gold from 60m

• 6m at 6.42g/t gold from 116m including; • 1m at 30.19g/t gold from 118m; and

• 1m at 47.12g/t gold from 63m

• 7m at 10.12g/t gold from 131m including; • 1m at 40.38g/t gold** from 131m and

• 2m at 12.62g/t gold from 121m including; • 1m at 18.57g/t gold from 121m and

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• 2m at 11.43g/t gold from 208m including;

• 1m at 17.53g/t gold from 208m; and

• 1m at 6.83g/t gold from 144m; and

• 1m at 5.11g/t gold from 53m

See ASX Release 22 February 2021” EMU’s Maiden Drilling Programme Confirms High Grade Gold” See ASX Release 28 September 2021” Significant High-Grade Gold Intersected at Depth, Gnows Nest” ** See ASX Release 18 May 2022” Further High-grade Gold and Significant Gold Discovery”

GNOWS NEST GOLD - BADJA PROJECT

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EXPLORATION PROJECTS

- BADJA PROJECT MONTE CRISTO PROSPECT

High grade veining - shear related gold and tungsten

The structure has a strike length of ~6km with numerous historic gold workings, an additional parallel structure of 3km has been identified as the “thrust faulted” continuation on the eastern margin

Gold Assay results from Emu drilling programmes*

• 4m at 9.74g/t gold from 32m (composite sample);

• 4m at 3.02g/t gold from 100m (composite sample);

• 7m at 2.18g/t gold from 173m including;

• 1m at 4.09g/t gold from 173m, and

• 1m at 2.30g/t gold from 175m

• 3m at 2.73g/t gold from 124m including;

• 1m at 3.86g/t gold from 124m, and

• 1m at 4.09g/t gold from 125m;

• 3m at 2.51g/t gold from 126m including;

• 1m at 4.28g/t gold from 126m.

• 3m at 13.35g/t gold from 67m including;

• 1m at 19.90g/t gold from 68m

• 6m at 6.51g/t gold from 120m including;

• 1m at 22.77g/t gold from 121m

• 4m at 3.29g/t gold from 120m including; • 1m at 5.97g/t gold from 121m

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*See ASX Release 25 October 2021” Drilling Update Badja Project”

MONTE CRISTO – BADJA PROJECT

*See ASX Release 22 February 2021” EMU’s Maiden Drilling Programme Confirms High Grade Gold”

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EXPLORATION PROJECTS

- BADJA PROJECT FLYING EMU, WATERTANK HILL PROSPECTS

Prospects located along same structure as Monte Cristo High grade veining - shear related gold and tungsten

Gold Assay results from Emu drilling programmes*

The maiden drilling programme at Watertank Hill discovered high grade gold:

• 2m at 9.94g/t gold from 51m including;

• 1m at 19.35g/t gold from 51m

• 2m at 3.77g/t gold from 51m including;

• 1m at 6.01g/t gold from 52m

• 6m at 1.12/t gold from 29m including;

• 1m at 2.30g/t gold from 32m.

The maiden drill programme at Flying Emu Prospect returned the following gold intercepts**

• 9m at 3.44g/t gold from 39m including;

• 2m at 10.14g/t gold from 39m

TUNGSTEN

Significant high grade tungsten values which are associated with gold mineralisation at the Monte Cristo prospect include:***

• 12m at 0.12% WO3 from 58m (21MC001) including;

• 1m at 0.64% WO3 from 59m

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• 6m at 0.18% WO3 from 58m (21MC002) including;

• 1m at 0.44% WO3 from 59m

• 4m at 0.14% WO3 from 28m (21MC003): composite sample

*See ASX Release 25 October 2021 “Drilling Update Badja Project”

FLYING EMU, WATERTANK HILL – BADJA PROJECT

• **See ASX Release 18 May 2022 “Further High-grade Gold and Significant Gold Discovery “

• *** See ASX Release 9 February 2022 “Significant Tungsten Values at Monte Cristo Gold Prospect”

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EXPLORATION PROJECTS

SUNFIRE PROJECT

SUNFIRE - COPPER, NICKEL SULPHIDE TARGET

• 250km SSW of Perth, 12km south of Bridgetown and 20km north of Manjimup WA

• Adjoins Venture Minerals Limited’s South West Project in which Chalice Gold Mines Limited has committed to spend up to $3.7M to earn a 70% interest in a “Julimar lookalike” target.

• Sunfire was identified in the 1970’s as a target for Nickel Sulphides

• Historic work includes:

• -Extensive soil sampling over the central anomaly

• -Drilling (diamond and percussion)

• -IP surveys

• Copper detected in soil on the project with values between 0.2% and 0.5% Cu*

• Copper trend in soils remains open along strike

• Highly anomalous (100x background Cu-value) is of great interest

• EMU targeting 3 distinct trends for follow up exploration

• Enviromental surveys completed

• Conservation Management Plan completed for soils and geophysical activities

• EMU awaits confirmation from authorities on whether access for drilling will be approved within the State Forrest areas. Requests lodged November 2022 and as yet no response has been received .

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SUNFIRE NI-CU PROJECT

See ASX Announcement 28 September 2020 “Emu Secures Highly Prospective Exploration Portfolio in WA”

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EXPLORATION PROJECTS

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EXPLORATION PROJECTS
ACTIVITIES AND NEWSFLOW
EMU IS A HIGHLY ACTIVE EXPLORER
SUBSTANTIAL NEWSFLOW CONTINUES...
Farm in JV for the 850 km2 Intrusion related high grade
Georgetown project QLD. More Gold and Tungsten discoveries
Sunfire Project historic Ni
than 1,000 mineral occurrences at Badja from 28km of drilling.
in drilling. Highly
recorded – no modern LCT pegmatite, lithium fertility anomalous Cu in soils
exploration identified for decades confirmed
Successful drilling programmes
Georgetown Project identified at Badja result in JORC 2012
as offering significant Gold, Resource ~40koz au. All Experienced management and
Copper and base metals scale prospects open for extensions proven discovery team
and resources upgrades
EMU dispatching teams
to Georgetown during
Portfolio of diversified projects, Australian based explorer with
April/May 2024 –
Gold, Copper, Nickel, PGE’s, standout portfolio of
update gold and Cu battery and critical minerals exploration projects
porphyry system Fiery
Creek NEWSFLOW
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DOUG GREWAR CEO doug@emunl.com.au

EMU NL

10 Walker Avenue West Perth WA 6005

+61 (0)419 833604 www.emunl.com.au Investorhub.emunl.com.au

EMU Investor Hub Signup

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ASX:EMU ASX:EMUCA