EV RESOURCES LTD — Investor Presentation 2024

Jul 22, 2024

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ASX: EVR

23[rd ] July 2024

EV Resources | Investor Presentation

Disclaimer

This presentation has been prepared by EV Resources Limited (“EVR”). 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 EVR, nor does it form the basis of any contract or commitment. EVR makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material. EVR, 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 EVR, 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, EVR. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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 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; 13th June 2023; 3rd August 2023; 9th October 2023, 27[th ] December 2023, 2[nd ] January 2024, 6[th ] February 2023, 25[th ] March 2024, 22[nd ] April 2024, 29[th] April 2024, 20[th ] May 2024, 27[th ] May 2024; 9[th ] July 2024.

Don Enrique Project – 30th August 2022, 21st November 2022, 28th March 2023, 30th May 2023, 12th July 2023, 31[st ] October 2023, 1[st ] November 2023, 6[th ] May 2024, 22[nd ] May 2024

Recipients of this presentation are cautioned to not place undue reliance on such forward looking statements. EVR 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 EVR 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.

This presentation has been authorized for release by the Board of EV Resources Limited

EVR does not take responsibility for updating any information or correcting any error or omission which may become apparent after the date of this presentation.

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An Experienced Corporate Board & Executive Team

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Luke Martino Non-Executive Chairman

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Adrian Paul Executive Director

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Navin S. Sidhu Executive Director

Lynette Suppiah Non-Executive Director

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Hugh Callaghan Managing Director

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Gonzalo Lemuz Head of Exploration

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Giorgio Albertini General Director Peru

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Corporate Snapshot

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ASX EVR Capital Structure Major Shareholders
Retail
1,371,271,485 $A8.23m 10%
Shares on issue Market Capitalisation
10%
As at 18 July 2024
Small instos
80% Board &
A$0.006
108,333,331
Share Price Management
Listed Options at 4.5c
As at 18 July, 2024
Expiring 31/8/2024
Share Price
403,351,964 A$350,000
Listed Options at 2c Cash and Equivalents
Expiring 30/11/2026 As at 18 July 2024
84,000,000
Performance Shares
Expiring 29/11/2025
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EVR is a Copper Exploration and Development Company

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• EVR has two copper projects located within 350km of Lima and close to infrastructure

• Parag (EVR 70%) Copper - Molybdenum - Silver Porphyry

• 83 Holes demonstrate a large and scalable coppermolybdenum porphyry system over a 1200 metre strike and width of up to 1000 metres

• 12,150 metres of diamond drilling to date

• Don Enrique (EVR 50%) Copper - Silver

• Drill Ready and permitted on a large and compelling Chargeability High anomaly 1500 metres long and up to 750 metres wide

• Additional ground staked on trend with the IP anomaly

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We invest in Peru because it is a major copper producer

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DON
ENRIQUE
PROJECT
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• Peru has 12.0% of the world's copper reserves and is the world’s second largest Cu producer(2.7mt in 2023) and 3[rd ] largest Mo producer

• Peru holds 12% of the world’s copper reserves, 3.9% of its gold, 15.3% of its silver, 9.5% of zinc, 5.3% of lead and 2.8% of tin reserves

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Why Did We Invest in Parag?

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• Parag is a Copper-Molybdenum (Cu-Mo) porphyry typical of the Andean region

• Copper Porphyries are the source of 70% of the world’s copper as they offer SCALE

• Parag is surrounded by Major companies drawn to a recently identified belt of intrusive structures and several clusters of Cu-Mo porphyries

• Parag is highly unusual because a large shallow anomaly of extensive high grade breccias outcrop at surface that have extraordinary – possibly unique – co product grades.

• Economic copper porphyries all need higher grade mineralisation close to surface to rapidly repay the capital and infrastructure cost and Parag demonstrably has that

• This is why we invested in Parag – the high grade breccia zone is the critical difference that can make a porphyry economic

• Importantly for a junior, this zone offers high grade shallow mineralisation for a standalone mine of a scale suitable for independent development – and gives us time to explore and search for a strategic partner for the longer term porphyry project

Hole VIE-01 at 92.5m

Hydrothermal breccia 2.25% Cu & 0.115% Mo

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Parag is part of an Emerging Cu-Mo District

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Parag lies within a Substantial Intrusive System

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Parag’s position in the Porphyry system – Molybdenum Rich

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Parag
Parag
Halley et al.
Sillitoe
(2015)
(1973)
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EVR has had 76 holes (18,470m) of old drilling

Drill Hole	Drill Hole			Grade Mo%	Grade Mo%
	Drill Hole	Intercept from (m) to (m)	Grade Cu%	Grade Mo%
	VIE-01	416.5m from surface	0.47	0.19
	VIE-02	177.2m from surface	0.15	0.04
	VIE-03	89.4m from 6.5m	0.39	0.62
	VIE-04	95.6m from surface	1.00	0.19
	VIE-09	60m from 3m	0.27	0.09
	VIE-10	144m from 6m 156m from 276m	0.21 0.23	0.01 0.04
	VIE-14	34m from surface	0.19	0.02
	VIE-18	72m from surface	0.26	0.04
	VIE-20	118m from 115m	0.68	0.13
VIE-21	VIE-21	44.5m from 3.1m	0.28	0.05

We have drill Core for 21 previous holes (10,170m) from a 2011 Programme. A number drilled targets subsequently excluded from the current licence area

Selected drill results shown here ( For a full list see the ASX announcement dated 3[rd ] May 2023 )

We also have the results of 55 holes (8,300m) from a previous campaign which are not reportable under the JORC code but which are proving a reliable guide for exploration.

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Trinchera Este 1980m HQ Diamond Drilling Q1 2024

• Hole APG- 001 476m (metres) at 0.31% Cu and 0.14% Mo from 3.2m . This includes intersections of

• 348m grading 0.40% Cu and 0.20% Mo from 3.2m to 351.2m, i ncluding an intersection of

  • 44m at 0.64% Cu and 0.31% Mo, from 3.2m to 47.2m.

  • 24m at 0.81% Cu and 0.43% Mo, from 7.2m to 31.2m.

  • 86m at 0.30% Cu and 0.40% Mo, from 55.2m to 141.2m.

  • 50m at 0.40% Cu and 0.24% Mo, from 209.2m to 259.2m.

• Hole APG-002 258.8m at 0.40% Cu and 0.14% Mo includes intersections of

• from 1m. This

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• § 130m at 0.60% Cu and 0.30% Mo, from 1m to 131m

Hole APG –DDH-001

• § 80m at 0.80% Cu and 0.30% Mo, from 1m to 81m.

• § 58m at 0.90% Cu and 0.30% Mo, from 23m to 81m.

Sample 265.2 to 267.2m. Hydrothermal breccia in intrusive 0.31% Cu, 0.428% Mo

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Trinchera Este 1980m HQ Diamond Drilling Q1 2024

Hole APG- 003 211.5m (metres) at 0.40% Cu and 0.20% Mo from 3m . This includes an intersection of

• 160m grading 0.50% Cu and 0.20% Mo from 3m to 163m, i ncluding intersections of

  • 104m at 0.60% Cu and 0.40% Mo, from 3m to 107m.

  • 32m at 1.20% Cu and 0.40% Mo, from 3m to 35m.

  • 16m at 0.70% Cu and 0.30% Mo, from 43m to 59m.

  • 18m at 1.70% Cu and 0.40% Mo, from 11m to 29m.

• Hole APG-006 218m at 0.30% Cu and 0.10% Mo from surface. This includes intersections of

  • § 186m at 0.30% Cu and 0.20% Mo, from surface to 186m

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• § 122m at 0.40% Cu and 0.20% Mo, from surface to 122m

Hole APG –DDH-003

• § 56m at 0.50% Cu and 0.20% Mo, from surface to 56m.

Sample at 17.30m, with 5.42%Cu and 0.8085%Mo. Hydrothermal breccia, matrixsupported and cemented by sulfides with andesite porphyritic fragments.

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Trinchera Este 1980m HQ Diamond Drilling Q1 2024

• Hole APG-DDH-005 at Parag assayed 148m at 0.54%Cu, 0.35% :

• Mo, and 8.87g Ag from 0.2m. including

• § 120m grading 0.62 %Cu, 0.43 %Mo and 10.45g Ag from 0.2 to 120.2m.

• Hole APG-DDH-007 at Parag assayed 180m at 0.31% Cu, 0.09%Mo and 4.20g Ag from surface including:

• § 58m grading 0.78 %Cu, 0.27 %Mo and 11.12g Ag from 0 to 58m.

• § 36m grading 1.08 %Cu, 0.36 %Mo and 15.61g Ag from 0 to 36 m.

• § 30m grading 1.18 %Cu, 0.39 %Mo and 17.05g Ag from 0 to 30 m.

• Hole APG-DDH-004 at Parag assayed 62m (meters) at 0.36%Cu, 0.03% Mo and 5.98 ppm Ag from 1.7 m. including:

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• § 50m grading 0.43 % Cu, 0.03 %Mo and 7.12g Ag from 1.7 to 51.7m

• § 26m grading 0.74 % Cu, 0.06 %Mo and 12.75g Ag from 1.7 to 27.7 m

• § 20m grading 0.92 %Cu, 0.08 %Mo and 16.10g Ag from 1.7 to 21.7m.

Porphyritic intrusive with quartz veinlets and sulfide dissemination (APG-DDH-002)

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Drill Core – Parag Copper-Moly Project, Peru

Hydrothermal breccia, matrix-supported with hornfels fragments, Molybdenite in matrix, and presence of chalcopyrite, sphalerite, and quartz in cement (APGDDH-001)

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Hydrothermal breccia, matrix supported with hornfels fragments, Molybdenite in matrix, and presence of chalcopyrite, sphalerite and quartz in cement (APGDDH-001)

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Hydrothermal breccia, matrix supported with hornfels fragments, Molybdenite in matrix, and presence of chalcopyrite, sphalerite and quartz in cement (APGDDH-001)

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Drill Core – Parag Copper-Moly Project, Peru

Hydrothermal polymictic breccia with sulfides in matrix, Sphalerite, pyrite, chalcopyrite, galena and molybdenite (APG-DDH-002)

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Hydrothermal polymictic breccia, rounded fragments clast supported, sulfide in open spaces (APG-DDH-002)

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Porphyritic intrusive with quartz veinlets and sulfide dissemination (APG-DDH-002)

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Significant mineralization outside the breccia

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The seven diamond drill holes drilled in the Trinchera Este area have shown that mineralization is not restricted to the polymictic (sulphide) breccia system but also occurs in the surrounding intrusive porphyry and hornfels and adds to our conviction that Parag is a system of potential scale beyond the immediate high grade mineralization already intersected in drilling within the breccias.

Figure 1: Cross Section along A-A´ looking West. Copper assay values on a 2 m interval.

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EVR will drill each of the 6 breccia targets in a careful sequence

Trinchera Este is the smallest of the 6 previously drilled breccias. Mineralization in the breccia and adjacent porphyritic intrusions requires a rethink of the approach after several intercepts at Trinchera Este – and then nearly 1000 metres to the West at drilling in the Paylacocha 1 breccia.

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Each of the 6 breccias has been drilled

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VIE-03
89.4m from 6.5m
at 0.39% Cu &
0.62% Mo
VIE-04 VIE-09
95.6m from 60m from 3m at
6.5m at 1% Cu 0.26% Cu & 0.09% VIE-01
& 0.19% Mo Mo 416.5m at
0.47% Cu
&0.19% Mo
APG-003
211.5m at
0.40% Cu &
0.20% Mo from
3m
VIE-10
VIE-14
146m from 6m at
44.45m from
0.21% Cu &
3.1m at 0.28%
0.01% Mo and
Cu & 0.36%
156m from 276m
Mo
at 0.23% Cu &
0.04%Mo
2 Holes drilled
VIE-18 under the 1995
72m from surface Gubbins
at 0.25% Cu & Campaign for
0.36% Mo which we have
the results but
not JORC
reportable
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The Parag Project - Numerous Undrilled Breccia Outcrops

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20

Molybdenum Prices increased >14% in 2024

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• Molybdenum prices as at 18th July 2024 (London Metals Exchange) were US$22.84/lb, or US$50,344/ton ne

Source: London Metals Exchange Website

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Molybdenum 101 – Main Uses

A metal created for iron and steel (~80% of its use) …

~80% … 90% of which comes from copper mines Source: CPM Group _() outside China_

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Molybdenum 101 – Mining Geography

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China accounts for nearly
a HALF of the global
production
There are only two active primary moly mines
Source: CPM Group
outside China (both in Colorado)
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23

Molybdenum Supply – Declining Western Output

Western production of moly has been systematically falling for many years

Selected Western Mo Producers	2019	2020	2021	2022	2023	2023	2023 Production Comments 14% below 2017 level = 2019 level 44% below 2014 level = 2019 level 19% below 2018 level 64% below 2017 level 82% below 2017 level 65% below 2016 level 93% below 2017 level		Codelco: 53% less than in 2005
	YoY %	YoY %	YoY %	YoY %	YoY %	mlbs
Freeport McMoRan (USA, Peru)	-5.3	-15.5	+11.8	0	-3.5	82.0
Grupo Mexico (Mexico, Peru)	+22.3	+12.5	0	-13.3	+2.4	59.2
Codelco (Chile)	-7	+24.5	-24.6	-2.6	-15.9	38.0
Other Chilean Mines	n/a	-2.8	-1.8	+16.5	-3.8	25.6
Antofagasta (Chile)	-14.7	+8.6	-16.9	-7.8	+13.6	24.3
Rio Tinto (Bingham Canyon, USA)	+93	+82.2	-62.7	-56.5	-45.2	4.0
Sierra Gorda (Chile)	-25.2	-18	-9.7	-52.5	-8.3	6.6
Antamina (Peru)	+7.8	+1.3	-38	+36.7	-46.3	3.6
Teck (Highland Valley, Canada)	-24.1	-50	-66.7	-9.1	-40.0	0.6

Source: Company reports, CPM Group

Is this declining trend to be broken?

If so, when?

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24

Parag will produce and sell Molybdenum Concentrates

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Mo Demand – Energy Transition Dividend

According to World Bank demand for molybdenum from renewables sector in 2030 may reach 12% of the current global production (73 mlbs).

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Nuclear [Hydro]
1.8%
Gas 1%
Solar [4.8%]
~7,000 kg Mo/MWh Coal 0.3%
3.2%
100-140 kg Mo/MWh
2030
Moly Demand
from
Renewables
73 mlbs
Geothermal Wind
41.7% 47.9%
This is the equivalent of
Cumulative 2020-2050
the annual production of
demand from renewables
Codelco – the third largest
is estimated to be between 1,102 1,742
mlbs mlbs Mo producer with 5 mines.
1,102 and 1,742 mlbs, or
~50 mlbs p.a.
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Source: World Bank Group, Minerals for Climate Action Report 2020

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Molybdenum Supply – Mo from Copper Mines

Increasing copper production will flood the market with moly REALLY? There are nearly 700 copper mines globally.

~60 of them also produce moly (8.6%)

In tonnage terms, 41% of Cu produced brings with it some moly (2022 data)

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Will this be the case in the future as well?
22 Mt 32 Mt
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Yes, but only if Cu prod. grows in these 60 mines, and/or new Cu/Mo mines.

Source: CPM Group

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Molybdenum – Critical Metal with high supply risk

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6.08 5.73 7.07
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Molybdenum has a higher supply risk than nickel, copper, zinc, lead, and even lithium! (for more details see: https://theprojectbluegroup.com/critical-materials)

“Project Blue’s Critical Material Risk Index (CMRI) 2022 provides a criticality ranking for 40 metals and minerals based on a CMRI score”

Molybdenum is officially listed as critical mineral in Canada, Japan and China. This may lead to export restrictions from China (45% of global output) in the future.

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28

Don Enrique: Drill Ready Copper-Silver

Don Enrique: A drill ready copper-silver project

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

• In total, 14 licences cover 1,800Ha in an area 30km Northeast of Jauja and approximately 260km from the nation’s capital, Lima.

• EVR holds an option to purchase the remaining 50% of Minera Montserrat SAC by 4[th ] May 2025 (US$850,000)

• Water and power are available in the area, and good quality unsealed roads pass by the initial planned drill pads

• A multi year co operation agreement was signed with the Jauja community.

• The project is permitted to drill with several compelling targets

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A 2,000 metre diamond drill programme is planned in 2024

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• Channel sample results show elevated copper results over the Main Breccia Zone for a 550m strike extent.

• 28 of the 108 samples demonstrated copper values greater than 0.30% and up to 3.22% Cu.

• 17 of the samples recorded silver values greater than 30ppm Ag and up to 585ppm Ag.

• An Induced Polarisation Survey of 28.8 line kilometres extended the strike of sulphide mineralization to 1500 metres down to a depth of 500 metres, and a width of up to 300 metres. The chargeability high (see legend) increases as it gets deeper and dips to the west.

• This chargeability high is interpreted to be open below the 500m level, and is increasing in width and intensity to the north west, where EVR has applied for additional ground.

• EVR has recently extended the licence position to the West where the IP anomaly is open – and widening at the boundary of the original licence

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31

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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ASX: EVR

23[rd] July 2024