EV RESOURCES LTD — Investor Presentation 2019

Nov 6, 2019

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ASX: JDR

INVESTOR PRESENTATION November 2019

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Key Investment Highlights

FIRST MOVER ADVANTAGE ON MULTIPLE HIGH QUALITY PROJECTS

1

Strategic landholdings in some of the most prolific and unexplored regions in the world

2

Target definition and drilling across multiple projects planned, targeting large Lithium and Borate deposits in Serbia and Austria and Gold deposits in Peru

3

Portfolio offers outstanding opportunity for a Tier 1 discovery – several applications pending over additional prospective targets

4

Clear short-term path to production for Peruvian Gold project. Existing resource +200,000 ounces gold

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5
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Embarking upon first maiden scout drilling program in Serbia for Lithium/ Borate

2

Portfolio Overview

90KM[2 ] Vranje South 100% OWNED (SERBIA)

28KM[2 ] Weinbene 80% OWNED (AUSTRIA)

• Very similar geological setting to the Jadar Basin, which hosts Rio Tinto’s world-class Jadarite discovery = one of the world’s largest lithium deposits

• Defined target areas with supporting high grade geochemistry.

• Jadar is in final preparations for maiden scout drill program at Vranje South Lithium Borate Project

• Surrounding European Lithium Limited’s Wolfsberg lithium deposit with 11MT resources at 1.0% Li2O in accordance with the JORC Code (2012) (now in DFS)

• High Grade mineralisation trends/strikes into JDR ground

• Natural extension of Wolfsberg deposit

• Identified numerous spodumene bearing pegmatite's with very high lithium values up to 3.39% Li2O

• Additional field activities underway to support future drilling.

75KM[2 ]

Rekovac 100% OWNED (SERBIA)

37km[2] Satellite Projects 80% OWNED (AUSTRIA)

• Very similar geological setting to the Jadar Basin, which hosts Rio Tinto’s world-class Jadarite discovery = one of the world’s largest lithium deposits

• Defined target areas with supporting high grade geochemistry

• 9 Unique high value lithium projects

• Sampling confirmed numerous pegmatites with very high lithium values up to 3.88% Li2O

• Additional field activities underway to support future drilling.

93KM[2 ]

CER 100% OWNED (SERBIA)

Yanamina – Peru (GOLD) 100% OWNED*

• Pegmatite fields within close proximity to Rio Tinto’s Jadarite deposit

• Potential for spodumene based mineralisation.

• Advanced Yanamina Gold Project is located in the Ancash Province in Peru

• Yanamina is an outcropping epithermal gold resource with existing resource of +200,000 ozs gold

• Purchase cost minimal, relative to potential upside of project

• Provides significant exploration upside through potential depth and lateral extenstions and a significant faulted extension target at depth

acquisition subject to shareholder approval 25 November 2019 3*

European Battery Alliance

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EU LAUNCHES “AIRBUS-STYLE CONSORTIUM FOR BATTERIES”

• The global energy storage market is estimated to be worth € 250 billion by 2025

• Gain independence from Asian production (currently 90% of all batteries for EV come from Asia)

• Facilitation of approval procedures and permitting processes for mining of resources in the EU Development of standards for production, software, security and recycling

• Demand: to meet the demand forecast, 10 to 20 Gigafactories are needed for battery cell production in Europe

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Electromobility – Global Outlook

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Growth will be driven by rapid expansion in the lithium-ion battery industry as world demand for hybrid and electric vehicles, energy storage systems, and high-drain portable electronics continues to grow.

McKinsey

Benchmark Minerals Intelligence

• EV production will reach more than 26 million globally by 2030

• China is expected to add approx. 15 million Evs by 2030 (56% market share), followed by Europe (26% market share) and the US (12% market share)

Bloomberg New Energy Finance

• Sales of Evs are expected to surge to 30 million by 2030

• China leads with sales close to 39% of the global market in 2030

• China leads on adoption rates, 19% of all passenger vehicle sales will be Evs in 2025

• Planned lithium-ion battery capacity in the pipeline for the period 2019 – 2028 has risen from 189 GWh to 1,549 GWh (1.54 TWh)

• This expanded capacity is the equivalent of 23-24 million sedan-sized EVs

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Sources: McKinsey Sustainable Mobility Initiative https://www.freedoniagroup.com/industry-study/world-lithium-3331.htm

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Lithium Sources è Limited in Europe

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PRODUCTION

1. SMP (Portugal)

WORLD CLASS POTENTIAL

2a. Rio Tinto (Serbia)

• Resource of 135.7Mt @ 1.86% Li2O and 15.4% B2O3 (Ranked as one of the world’s largest Li deposits)[1]

• start construction ~ 2020

• production target ~ 2023

2b. Jadar Lithium (Serbia)

• two licences with very similar geological setting to Rio’s Jadar project

• significant upside potential

SCOPING / EXPLORATION

1. Avalonia Lithium (Ireland)

2. Keliber (Finland)

3. European Metals/Cinovec Tin (Czech Republic)

4. 6a. European Lithium (Austria)

5. 11Mt @ 1.0% Li2O (Wolfsberg project) in accordance with the JORC Code (2012)[2]

6b. Jadar Lithium (Austria)

• Licences surrounding European Lithium’s Wolfsberg project

• Attractive satellite exploration assets with potential for near-term

discovery

1. https://www.riotinto.com/documents/180321_Presentation_Andrew_Latham_Lithium_Battery_Metals_Conference.pdf 2. https://europeanlithium.com/wolfsberg-lithium-project/

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Serbia

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Goal to join European Union by World Bank #47 for overall ease of 2025 doing business 2017 At crossroad of Central & South Updated mining code in December Eastern Europe 2015 Strong mining heritage & history European quality infrastructure Aim to increase GDP contribution Supportive government & from mining to 5% by 2020 favourable regulatory environment Favourable foreign investment No restrictions on foreign ownership laws No government participation No restrictions on flow of capital 7

Highlights – Serbia

• ü 3 exploration licences in Serbia (emerging Tier 1 Lithium jurisdiction)

• ü Substantial exploration area ≈258km²

• ü Serbia is only known source of Jadarite

• = new & valuable lithium-borate bearing mineral (LiNaB3SiO7(OH))

• ü Rekovac and Vranje South licenses have a very similar geological setting to the Jadar Basin, which is host to Rio Tinto’s world-class Jadarite discovery = one of the world’s largest lithium deposits (Resource of 135.7 Mt @ 1.86% Li2O and 15.4% B2O3 now in PFS)[1 ]

• ü Experienced local team and consultants involved in major lithium discoveries worldwide.

• ü Strategically placed for European manufacturers using lithium (In heart of EU manufacturing centre).

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Figure 1 – Position of the Vardar Zone

Beside Jadar deposit which is the world´s largest lithium - borate deposit, borates have been found in Pobrdje and Piskanja within the Jarandol deposit. Some of the world´s largest borate deposits were discovered as well within the Vardar zone. Kirka borax deposit in Turkey is the world´s largest deposit and it´s located central part of Vardar trend.

1. https://www.riotinto.com/documents/180321_Presentation_Andrew_Latham_Lithium_Battery_Metals_Conference.pdf

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Projects

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PROJECT	LOCATION	AREA (KM²)	DEPOSIT TYPE	HIGHEST SOIL SAMPLE VALUES	STATUS
Vranje South	South Vranje, South Serbia	90.4	Hydrothermal Sedimentary	+800ppm Borate and 280ppm Lithium	Targets defined and targeting T1 potential (Jadar Like deposits)
Rekovac	Paraci, Central Serbia	75.4	Hydrothermal Sedimentary	Borate up to 342ppm and 280ppm Lithium	Targets defined and targeting T1 potential (Jadar Like deposits)
					Pegmatites defined and
Cer	Loznica, West Serbia	92.8	Pegmatite	N/A	sampling underway to define spodumene
					mineralisation
	TOTAL	258

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Projects – Vranje South

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PROJECT HIGHLIGHTS

• Project hosts a sedimentary basin with hydrothermal to metasomatically altered volcanogenic-sedimentary deposits

• Jadar Resources is 1[st] mover within the entire basin - has not been tested for Li-B mineralisation to date despite strategic position and geology

• Numerous target areas defined with very high values of both Li and B present in soil and rock chip samples

• Highest values include +800ppm Boron and 280ppm Lithium in soil sampling

• Good correlation between B and Li anomalism throughout permit

• Targeting a world class deposit akin to Rio Tinto’s Jadar Deposit (Inferred Resource of 135.7 Mt @ 1.86% Li2O and 15.4% B2O3 now in PFS)[ 1]

• 2 phases of sampling and mapping undertaken to date

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• Ongoing activities – possibly including geophysics – in near term to define drill targets for 2H 2019 program

• Further ground applied for– strategically secure entire basin (ca 500km[2] ).

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1. https://www.riotinto.com/documents/180321_Presentation_Andrew_Latham_Lithium_Battery_Metals_Conference.pdf

Projects – Vranje South

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Gravity

Ground Magnetic

• These results helped to guide the subsequent drilling program

• Complete Bouguer gravity corrections were made for all surveys using a regional digital elevation model

• The corrected data was color contoured to highlight gravity lows in deep blue

• GM Surveys aided their structural and stratigraphic interpretation of the basin details, such as positions of and depths to the lacustrine sediments and basement contacts

• GM aided in defining the presence of “blind” (covered by younger sediments) Calc – Alkaline volcanic formations that may be related to a spring emanation

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1. https://www.riotinto.com/documents/180321_Presentation_Andrew_Latham_Lithium_Battery_Metals_Conference.pdf

Projects – Rekovac

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PROJECT HIGHLIGHTS

• Project composed of Miocene sediments which are very similar setting to Jadar Basin, with potential to contain lithium – borates mineralisation

• Lithium values in rock chips up to 280ppm Boron values up to 342ppm

• Ongoing activities – possibly including geophysics – in near term to define drill targets for 1Q 2020 program.

• Two phases of soil sampling have defined a target area in central part of permit

• Strong correlation between lithium and boron in soil and rock chips samples

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Projects – Cer

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PROJECT HIGHLIGHTS

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• Proximal to known world class mineralization

• Excellent road and railway infrastructure nearby

• Numerous pegmatite fields mapped out by

Government surveys

• Granitoid Complex shows metallogenic association

with Lithium

• Initial reconnaissance sampling delineated target areas

• which will be focus of next phases of work

• Follow up work sampling recommencing Q1 2020 to

define detailed targets.

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Austria

Part of European Union since 1995	Highly industrialized economy with skilled labor force
Closely tied to other EU economies, especially Germany	In 2012 the Austrian Raw Material Alliance was founded
Economic and Monetary Union since 1999	Excellent infrastructure with access to Trans-European Transport Networks
The Austrian Mineral Raw Materials Act (MinroG) regulate exploration and extraction of minerals	Supportive government with positive investment incentives
Favourable foreign investment laws	No restrictions on foreign ownership
In 2017 Austria elected a new pro-business government	No restrictions on flow of capital

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Austrian Project – Highlights

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• ü Jadar Lithium Limited holds an 80% interest in Austrian Lithium Exploration Licences

• ü Eight project areas covered with 135 exploration permits “Freischurf” covering in total 64.2 km² - all hosting Li bearing mineralisation (Spodumene)

• ü The eastern Alps region comprises favourable geology for locating deposits of lithium bearing pegmatite ores

• ü Weinebene project area surrounding European Lithium Limited’s Wolfsberg lithium deposit with 11MT at 1.0% Li2O - in accordance with the 2012 JORC Code (now in DFS)

• ü Potential for near-term brownfield discovery (resource extension)

• ü Attractive satellite exploration assets with potential for further high grade resources/mill feed

• ü Strategically placed assets for European manufacturers using lithium (In the heart of European manufacturing center).

Austrian infrastructure and exploration licenses location map

Denotes satellite projects Highest Grd 3.88% Li20, Avg Grd 1.54% Li20

Denotes Weinebene project Highest Grd 3.39% Li20, Avg Grd 1.61% Li20 Surrounding European Lithium Limited’s Wolfsberg lithium deposit with 11MT at 1.0% Li2O - JORC

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Austrian Projects

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PROJECT AREA	NUMBER OF LICENSES	LICENSES AREA (KM²)	HIGHEST Li2O GRADE SAMPLE	AVERAGE Li2O GRADE SAMPLE	STATUS
Weinebene Project	60	27.528	3.39%	1.61%	Brownfield opportunity with near term resource potential
Sattelite Projects
Millstätter – Seerücken – Spittal
Mittereck – Pallbaueralm
Hohenwart St. Radegund (Garrach) Mitterberg Falkenberg	76	36.637	3.88%	1.54%	Greenfield opportunity with potential high grade mill feed opportunity
Glanzalm – Ratzell - Poling
Klementkogel
Birkfeld

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Projects – Weinebene

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PROJECT HIGHLIGHTS

• Weinebene project area surrounds the European Lithium Limited’s Wolfsberg lithium deposit with 11MT @ 1.0%Li2O

• Field reconciliation and mapping, rock chips and soil sampling undertaken to-date

• Identified numerous spodumene bearing pegmatites with very high lithium values up to 3.39% Li2O - indicates the European Lithium resource possibly/likely extends into JDR project

• Soil sampling showing anomalous values in the northern portion of the sampled area to be aligned with the projected trend of the known pegmatite veins – anomaly still open to the north - northeast

• Planned work - soil sampling of northeastern part; define drill targets for H2.

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Ca
WOLFSBERG PROJECT
11MT @1.0% Li20
Be
Li
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Projects – Satellite

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PROJECT HIGHLIGHTS

• Unique high value lithium targets

• Short time line to discovery (target definition) and value creation

• Initial reconnaissance sampling confirmed numerous pegmatites with very high lithium values up to 3.88% Li2O

• Planned work - Company plans to conduct detailed mapping and soil sampling to evaluate projects and define trenching and drilling targets

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PALLABAUERALM - MITTERECK
ZINKENSCHLUCHT PROJECT AREA
with up to 2.91% Li20
HOHENWART FALKENBERG
PROJECTAREA PROJECT AREA
with up to 3.43% Li20 with up to 2.79% Li20
MITTERBERG
PROJECTAREA
with up to 3.08% Li20
ST. RADEGUND
PROJECTAREA
with up to 3.88% Li20
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GLANZALM RATZELL
POLING PROJECT
AREA
with up to 3.33% Li20
WOLFSBERG LITHIUM
MILLSTÄTTER - SEERÜKEN DEPOSIT
PROJECT AREA (EUROPEAN LITHIUM)
with up to 2.41% Li20 11MT @ 1% Li20
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* Projects – Yanamina Gold Project

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PROJECT HIGHLIGHTS

• Advanced Yanamina Gold Project is located in the Ancash Province in Peru

• Yanamina is an outcropping epithermal gold resource with existing resource of +200,000 ozs gold

• Purchase cost minimal, relative to potential upside of project

• Provides significant exploration upside through potential depth and lateral extenstions and a significant faulted extension target at depth

• Clear short term path to production with defined short term plan

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Figure 1: Yanamina Gold Project

• Subject to shareholder approval 25 November 2019

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Next Steps

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SERBIA
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Vranje South & Rekovac Projects:

• Additional in-field mapping and geophysical surveys

• Evaluate basin geometry on Rekovac and Vranje South

• Prepare maiden scout drill testing Q4 2019/Q12020

Cer Project:

• Detailed mapping and trenching to define drill targets on Cer and prospectivity

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AUSTRIA
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Winebene Project:

• Soil sampling of the north-eastern part – outline previously identified Li, Be, Cs anomaly; define drill targets for H1 2020

Satellite Projects:

• Detailed mapping and soil sampling of the satellite projects; project prioritization, and define trenching and drilling targets H1 2020

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PERU
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Yanamina Gold Project * :

• Complete due diligence

• Obtain shareholder and regulatory approvals Q4 2019

• Short term path to production

• Update JORC resources for 2012 reporting standards

• Subject to shareholder approval 25 November 2019

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Corporate Overview

BOARD OF DIRECTORS

• Mr Luke Martino – Specialist in corporate advisory and investment banking

• Mr Steven Dellidis – Project management and strategic investment for 20+ years

• Mr Nicholas Sage – Experienced marketing and communications professional

• Mr Stefan Müller – Extensive financial markets and investment banking knowledge and experience built over a 25-year career

CAPITAL STRUCTURE

Shares on Issue (Undiluted)	480.4 million
Options ($0.02; 12/2020) Options ($0.03; 07/2020)	70.2 million 30.0 million
Options ($0.02; 05/2023)	25.0 million
Share Price (24/10/2019)	A$0.011
Market Capitalisation (Undiluted)	~A$5.3 million
Cash balance 30/09/2019	~A$1.7 million
Escrowed shares (12/2019)	50.0 million
	ASX “JDR”
Listing	Frankfurt Exchange R1E.F Berlin Exchange R1E.B
	Stuttgart Exchange R1E.SG

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TOP HOLDERS (@ 24/10/2019)
Top 20	50%
Other	50%

TOP 5 SHAREHOLDERS (@ 2 4 /10/2019) 12.74% J P Morgan Nominees Australia Limited 5.21% Sunshore Holdings Pty Ltd 4.25% Battle Mountain Pty Ltd 3.95% Mr Adrian Stephen Paul & Mrs Noelene Paul 2.60% ADKSK Superfund Pty Ltd

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Management - Directors

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Luke Martino (Chairman)

Steven Dellidis (Non-executive)

• 25+ years experience at partner & board level with Deloitte

• Project management and strategic investment for 20+ years

• Director of Indian Ocean Corporate, a boutique corporate & investment banking firm in Australia & Mainland China

• Experience & credibility in mining & resources, property and hospitality industries

• Specialist in corporate & growth consulting

• Significant experience in managing a number of listed companies

• Has assisted in initial acquisitions of important assets, bolstering company profiles

• Currently manages a variety of businesses across a range of industries from mechanical engineering to earth moving

Stefan Müller (Non-executive)

Nicholas Sage (Non-executive)

• Extensive financial markets and investment banking knowledge and experience built over his 25-year career

• Founder and CEO of DGWA Deutsche Gesellschaft für Wertpapieranalyse, a boutique European Investment and financial markets consulting firm

• Supervisory Board member of Frankfurt listed Agrarius AG, Non-Executive Director of ASX listed European Lithium Limited and Cape Lambert Resources Limited

• Mr Nicholas Sage is an experienced marketing and communications professional with in excess of 25 years in various management and consulting roles. Mr Sage is based in Western Australia and and has held various management roles within Tourism Western Australia. Mr Sage also runs his own management consulting business.

• Mr Sage is a Non-Executive Director of ASX listed Cauldron Energy Limited and Fe Limited.

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Management – In Country

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Dejan Jovanovic (Austria)

Dusko Ljubojevic (Serbia)

• Dejan graduate Economic Geology at the University of Belgrade.

• He is a member of the European Federation Geologist (QP) and oversees lithium exploration and mining projects.

• Specializing in: Exploration, geochemistry and ore body knowlage

• Proven ability to manage field staff in the successful evaluation, management, and completion of mineral exploration and mining projects

• Well-versed in scheduling and coordinating all aspects of exploration projects, including contractor selection, the scope of work, as well as utilizing area selection, target generation, and target testing to consistently generate a new projects

• A geologist with over 13 years experience in the resource sector.

• Previous positions spanning exploration; mining operations, investor relations and executive roles.

• He has worked in the Americas, Africa, Asia and Europe, and has significant experience in Eastern Europe.

• He held positions with a number of junior and mid tier development companies and served on the advisory board of a number of private companies. He also acted as an advisor and Head of Small Scale Mining within Barrick Gold Corporations’ Asset Development Group.

• Experienced with Rio Tinto’s “Jadar” deposit

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APPENDICES

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Targets

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JADAR STYLE LITHIUM-BORATE

• Jadar Deposit is essentially a borate deposit with high grade lithium co-product

• Borate deposits form from hydrothermal fluids associated with volcanic activity and granites in arid tectonic basins

• Typically associated with fine-grained, lacustrine sediments, evaporates, clays and sands

• Have kilometre scale footprints

• Deposits associated with basin scale faults that provided fluid conduits

• Testing will require reconnaissance drilling of the

basin sequence

• Potentially prospective accumulations of sediments exist at Rekovac and Vranje South

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LI-BORATE DEPOSITS
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Genetic Model for Borate +/- Lithium deposit formation, From: Helvacı, C., 2015, Geological Features of Neogene Basins Hosting Borate Deposits: An Overview of Deposit and Future Forecast, Turkey . Bull. Min. Res. Exp., 151: pp 169-215

• Additional data review and field visits are required to ascertain

the prospectivity of these sedimentary packages.

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Licences in similar geological setting to World-Class Deposit

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RIO TINTO’S JADAR PROJECT

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CER
RIO TINTO
REKOVAC
VRANJE SOUTH
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• § World-class lithium borate deposit

• § Unique Jadarite deposit near Loznica

• § Ranked as one of the largest global lithium deposits in world (due to high lithium & boron concentrations)

• § Rio Tinto spent US$200m + to date

• § Currently in prefeasibility stage

• § Production could commence by 2023

• § Could supply 10% of global lithium demand

Source: “Jadar Project Fact Sheet”, Rio Tinto, March 2017

• ≈Rekovac and Vranje South licences in very similar geological setting to Rio’s Jadar Project

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“Rio Tinto powers up Serbian lithium mine for car battery boom” AFR, Feb 2017

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Field Photos from Austria

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Field Photos from Serbia

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Disclaimer

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This presentation has been prepared by Jadar Lithium Limited (“JDR”). The information contained in this presentation is a professional opinion only and is given in good faith. The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security in JDR, nor does it form the basis of any contract or commitment. JDR makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material. JDR, its directors, employees, agents and consultants shall have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from, this material, except liability under statute that cannot be excluded. Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of JDR, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties, many of which are outside the control of, and may be unknown to, JDR. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Recipients of this presentation are cautioned to not place undue reliance on such forward looking statements. JDR does not take responsibility to release publicly any revisions or updates to any forward looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

This presentation is a visual aid and is not intended to be read as a stand alone document. The material contains selected and abbreviated summary information about JDR and its subsidiaries and their activities current as at the date of this presentation. The material is of general background and does not purport to be complete. JDR does not take responsibility for updating any information or correcting any error or omission which may become apparent after the date of this presentation.

Compliance Statement

This presentation contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” ("2012 JORC Code") and available for viewing at www.jadarlithium.com.au. JDR confirms that it is not aware of any new information or data that materially affects the information included in any original ASX market announcement. ASX announcements are as follows:

Eastern Alps Satellite Project – 14 March 2019; Weinebene Project – 19 February 2019;

Cer Project – 6 July 2018;

Vranje South Project – 20 August 2018, 14 November 2018 and 14 July 2019; Rekovac Project – 7 August 2019; and Yanamina Project – 16 September 2019

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LUKE MARTINO (Non-Executive Chairman) E: luke@jadarlithium.com.au M: +61 403 635 555 Ph: +61 8 6489 0600 A: 311-313 Hay Street, Subiaco AUS 6008 www.jadarlithium.com.au

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