EV RESOURCES LTD — Investor Presentation 2023

Oct 30, 2023

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ASX: EVR

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Advancing Copper Exploration In The Americas
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Copper Projects Update: Peru
November 2023
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JORC Code”) and available for viewing at https://evresources.com.au/. EVR confirms that it is not aware of any new information or data that materially affects the information included in any original ASX market announcement. These announcements are as follows: •

Parag Project - 4th May 2023; 13[th] June 2023; 3[rd] August 2023; 9[th] October 2023

Don Enrique Project – 30[th] August 2022, 21[st] November 2022, 28[th] March 2023, 30[th] May 2023, 12[th] July 2023

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community support for mining projects is vital.

• EVR focuses on local communities as a cultural norm, prioritizing community investment in agriculture and infrastructure projects.

• EVR has also met government officials and regulatory authorities involved in the mining sector with continuous dialogue to date.

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Project Commodity Status Next Drill Campaign

Drill permitting underway on an expanded drilling programme matched to the revised geological model.

Drillin ex ected earl 2024 g p y

A 2000 metre drill is programme imminent to test a substantial chargeability anomaly. Drilling expected by end 2023,subject to drill rig availability

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Parag – High Grade Copper-
Molybdenum
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EVR holds 70% of the Parag project, and the original owner retains a
30% free carried interest to a Bankable Feasibility Study, with a non
diluted interest of 12% at production.
•
76 Diamond Core holes have been drilled in Parag. We have the drill
core for 10,170 metres (21 holes).
•
Mineralization at Parag/Viento project is hosted in different lithological
units including different types of breccia, hornfels and in felsic
igneous bodies.
•
High-grade Cu-Mo mineralization is hosted in breccia bodies that is
evident from the surface and tested in areas by drilling.
•
Identified porphyry mineralization includes:
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Rounded fragments of felsic igneous rock with porphyritic texture in
matrix supported breccia with Mo cementing, with quartz-sericite
alteration and type A/B veins with chalcopyrite and bornite that
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suggests the presence of a porphyry mineralized body at depth.
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Major Mining Groups View The Region As Highly Prospective
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Parag is surrounded by major
mining groups drawn to the
cluster of porphyry orebodies
in a largely unexplored region
of recent focus.
•
EVR has initiated discussions
with their counterparts to
attain a better understanding
of the prospectivity of
neighbouring permits and the
potential impact, if any,
on EVR's geological model for
Parag
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geophysics and is the focal point of the Company’s copper-focused activities.

• During Q3, EVR’s team reviewed core, did additional mapping of the project and reevaluated the previous data and model for Parag, and EVR is now planning its next programme around the assumption of a mineralised porphyry system below the shallow high grade and partially drilled breccia zone. • The focus remains on a strategy of moving quickly towards defining a shallow resource on the breccia zone whilst developing a deeper, longer-term, porphyry copper target. • Based on 18,470m of historical drilling (76 Holes), and a reinterpretation of this and other geological data, EVR has expanded its original drill campaign. • EVR’s plans to twin previous holes but also extend this programme to include new targets designed specifically to test for this deeper, longer-term, porphyry

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Parag – Plan View and Cross Section (Copper Equivalent)

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Plot of historical drill holes in a SW-NE section shows Cu-Mo mineralization over a 1200m strike, a 500 m width, and open at depth with substantial targets for extensional and infill drilling.

Note: The figures are generated with Cu Eq (Copper Equivalent) values calculated based on the average of the Mo/Cu ratio calculated on April 30[th] and October 26[th] 2023 (6.365:1). The ratio is subject to variance with the relative prices of the commodity and no prediction is made as to future pricing

Exceptional Co Product Molybdenum Grades Warrant Further Exploration

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• The revised geological model reflects the impact of exceptionally high molybdenum grades which is to raise the grade of ore on a copper equivalent basis. Molybdenum will provide substantial by-product credits that reduce the costs of copper production, • At left, see selected historical drill holes in a table that shows copper equivalent assays, calculated and based on the average value of the Mo/Cu ratio for prices recorded on April 30th and October 26[th ] 2023

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Photographs of selected samples from these holes are shown in the following slides for illustrative purposes of the geology encountered in logging, sampling and assaying

Note: a Full list of Drill Holes and Assays from Parag is contained in the ASX Announcement “EVR Acquires High Grade Parag Copper-Molybdenum Project in Peru” dated 4[th] May 2023. EVR has excluded the small quantities of contained gold and silver from this calculation

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worlds largest producer, with 40% of the market supply.

Molybdenum is priced on the London Metals Exchange.

•

• Declining grades at aging mines in the Americas come at a time of steadily growing demand. Usually, the grade of Molybdenum in copper orebodies is 0.01-0.025%, and Mo is separated to a concentrate in the flotation circuit.

• Molybdenum has a very high melting point, which enables it to form strong, stable carbon compounds in alloys such as ultra-strong steel with resistance to corrosion and wear, used in missile and aircraft parts, nuclear reactor condenser tubes, engines, heating elements, drills and saw

• Molybdenum is a critical mineral required for a range of low-carbon technologies, especially wind and geothermal.

“The greatest share of demand for molybdenum from electricity generation and energy storage technologies comes from wind (47.3 percent) and geothermal (41.7 percent), with all the other generation and energy storage technologies together accounting for only a small share (11 percent),” according to a World Bank report.

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Parag – Hole VIE-01 – Sample Point A

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The core sampled at point A) is a monomictic breccia clast supported, with strongly altered quartz-sericite (green)-chlorite hornfels clasts. Spaces filled with chalcopyrite, molybdenite, pyrite and granular silica . Interval 4.5m-6.4m assays 1.9m @ 3.33%Cu, 0.598%Mo. (See a full list of assays in the ASX announcement of 4th May 2023) 13

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Parag – Hole VIE-01 – Sample Point B

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The core Sampled at point B) is a polimictic breccia clast supported, with strongly altered quartz-sericite (green)-chlorite angular hornfels and rounded felsic porphiritic clasts. Spaces filled with molibdenite cement, chalcopyrite, traces of bornite and granular silica .

Interval 150m-154m assays 2m @ 0.08%Cu, 0.759%Mo. (See a full list of assays in the ASX announcement of 4th May 2023)

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Parag – Hole VIE-01 – Sample Point C

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occur cutting the breccia as a late event.

(See a full list of

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Parag – Hole VIE-03 – Sample Point D

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The core shown at Sample point D) demonstrates crackle breccia in hornfels, chalcopyrite, pyrite, traces of bornite in veins and disseminated molybdenite. Strong to pervasive quartz-sericite-chlorite alteration and strong silicification in patches. Centimetric massive quartz veins occur sporadically. Interval 23.7m-25.5m assays 1.8m @ 1.685%Cu, 1.215%Mo. (See a full list of assays in the ASX announcement of

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Parag – Hole VIE-03 – Sample Point E

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The core at Sample Point E) shows clast-supported breccia dominated by hornfels and sporadic fragments of felsic intrusive with porhyritic texture, filled with molybdenite and chalcopyrite and rock flour matrix. Strong silicification. Interval 51.9m-53.9m assays 2m @ 0.671%Cu, 0.339%Mo. (See a full list of assays in the ASX announcement of 4th May

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Parag – Hole VIE-03 – Sample Point F

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The core sampled at point F) shows Clast-supported breccia dominated by quartz monzonite equigranular intrusive and some fragments of hornfel, filled with molybdenite and chalcopyrite and rock flour matrix. Strong silicification and quarz-sericite pervasive alteration. Interval 46m-48m assays 2m @ 0.145%Cu, 1.835%Mo. (See a full list of assays in the ASX announcement of 4th May

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Panoramic View of the Parag Project (Google Earth)

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• Blue polygon corresponds to the Viento mining right, which is where Phase 1 of drilling will be carried out (EV Resources).

• Red polygons of the 3 additional mining concessions that are part of the Parag/Viento Project

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The Parag Project - Numerous Undrilled Targets

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• Areas shown in orange correspond to areas of mineralized breccia that have not yet been evaluated or explored – and are considered future targets within the white dotted lines

• Red dots are the location of planned drill holes

• Substantial areas of the licence are yet to be mapped, and an IP Survey will be scheduled in 2024

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• EV Resources commenced exploration at the Don

• The Project is owned by EVR’s 50% owned subsidiary, Minera

• In total, 14 licenses cover 1,800Ha in an area 30km Northeast of

• EVR holds an option to purchase the remaining 50% of Minera

• EVR has applied for a small miner’s license that will allow both

• Water and power are available in the area, and good quality

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The chargeability anomaly is plunging towards SW, and appears open towards the NW and at depth – the correlation to the surface anomaly and testing of an exploration cross cut is well understood. All the documentation necessary to request a drilling permit under the PPM (Small Miner’s Framework) has been delivered to the competent authority and is in the process of evaluation and approval. Agreements for land access and support signed with the Quero community who are supportive and valued partners. EVR has committed

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• Channel sample results show elevated copper

• An Induced Polarisation Survey of 28.8 line

• 28 of the 108 samples demonstrated copper

• 17 of the samples recorded silver values greater

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Don Enrique Project

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• Drill hole planning is targeting the geophysical chargeability anomaly is shown in the figure on Line 1200 N that crosses the historical underground exploration cross cut.

• The objective is to test the area of greatest chargeability, in depth and below the old underground workings. In this .

• Figure, the chargeability is shown at a depth of 400m

• The anomaly is open to the NW and at depth.

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Don Enrique Project

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• Drill hole planning, targeting the geophysical chargeability anomaly is shown in the figure.

• The objective is to cross the area of greatest value and the structure mapped on the surface.

• Anomaly is open at depth

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Don Enrique Project

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• Drill hole planning, targeting the geophysical chargeability anomaly is shown in the figure.

• The objective is to cross the area of greatest value and the second structure mapped on the surface.

• Anomaly is open at depth

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Don Enrique Project

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• Drill hole planning, targeting the geophysical chargeability anomaly is shown in the figure.

• The objective is to cross the area of greatest value and the second structure mapped on the surface.

• Anomaly is open at depth

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Don Enrique Project

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• Drill hole planning, targeting the geophysical chargeability anomaly is shown in the figure.

• The objective is to cross and go through of the chargeability anomaly in its southern extension.

• Anomaly is open at depth

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Don Enrique Project

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• Chargeability Anomaly at different levels shows the trend for the strong chargeability to move at increasing depth towards the west. Surface mapping indicates the dip of the Veta/Breccia body towards the SW.

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