FireFly Metals Ltd. — Investor Presentation 2021

Jul 14, 2021

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PICKLE CROW GOLD PROJECT, ONTARIO, CANADA

A RAPIDLY ADVANCING HIGH-GRADE GOLD PROJECT

JULY 2021 | ASX: AUT

Noosa Mining & Exploration Investor Conference

DISCLAIMER & CAUTIONERY STATEMENTS

DISCLAIMER

This presentation has been prepared by Auteco Minerals Limited (the Company) based on information from its own and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this presentation. Except for any liability that cannot be excluded by law, the Company and its related bodies corporate, directors, employees, servants, advisers and agents (Affiliates) disclaim and accept no responsibility or liability for any expenses, losses, damages or costs incurred by you relating in any way to this presentation including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused, lack of accuracy, completeness, currency or reliability or you or any other person placing any reliance on this presentation, its accuracy, completeness, currency or reliability. This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for information purposes and is not an invitation nor offer of shares or recommendation for subscription, purchase or sale in any jurisdiction. This presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. Each recipient must make its own independent assessment of the Company before acquiring any shares in the Company (Shares). The Company has made reference to historic drilling and exploration results from a variety of Exploration company's over the past 60 years that had previously explored the Project. References to previous ASX announcements should be read in conjunction with this release. The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation.

FORWARD LOOKING INFORMATION

This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forwardlooking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on the Company’s beliefs, opinions and estimates of the Company as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur.

NO NEW INFORMATION OR DATA

This Presentation contains references to Mineral Resource estimates, all of which have been extracted from the Company’s ASX announcement titled "Resource increases 71% to 1.7 Moz at Pickle Crow” and dated 15 July 2021, which is available via the following link: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02395621-2A1310023?access_token=83ff96335c2d45a094df02a206a39ff4. All future references in this presentation that relate to the Mineral Resource Estimate should be read in conjunction with the aforementioned ASX release. The Company confirms that it is not aware of any new information or data that materially affects the information included in that ASX announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate (Inferred Resource – 6.6 Mt @ 8.1 g/t gold for 1.71 M ounces of gold) in that announcement continue to apply and have not materially modified. A breakdown of the resource is set out in this Presentation.

This Presentation also contains references to Certain Exploration Results that were first reported in accordance with ASX Listing Rule 5.7 in the Company's announcements of 28/01/2020, 26/03/2020, 01/09/2020, 11/11/2020, 19/01/2021, 7/04/2021, 16/06/2021 and 15/07/2021. Auteco confirms that it is not aware of any new information or data that materially affects the information included in the original announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

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2

CORPORATE SUMMARY

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SHAREHOLDER SUMMARY 120 $0.20 Board and Management 27% 100 (on a fully diluted basis) Total Australian and Global institutions 26% 80 $0.15 Substantial shareholders 60 - 1832 Asset Management LP 9.4% $0.10 - First Mining Gold Corporation 7.5% 40 - Symorgh Investments Pty Ltd 6. 2% - Campbell Kitchener Hume & Assoc, 5.9% $0.05 20 CAPITAL STRUCTURE 0 $- ASX Code AUT Shares on issue 1.7B Management & consultant options 390M (prices from $.007 - $.015) Current Market Top 20 Shareholders 63% Share Price[1] A$0.115 Capitalisation A$180M Cash[2] ~A$26.8M

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$0.20
$0.15
$0.10
$0.05
$-
Share Price
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3

1 As at 14 July 2021 2 As at 31 March 2021

BOARD AND KEY MANAGEMENT

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Executive Chairman Mr. Ray Shorrocks

Non-Executive Director Mr. Steve Parsons

Steve is an experienced geologist with a proven track record of mineral discoveries and corporate growth. He founded and ran Gryphon Minerals which grew to an ASX-200 company and was acquired by a significant North American gold producer.

Ray has more than 27 years’ experience in corporate finance and investment banking. He has advised a diverse range of ASX-listed mining companies in his position at a major Australian broking firm.

Mr Shorrocks also sits on a number of ASX listed Boards including Galilee Energy Ltd, Alicanto Minerals Ltd, and Cygnus Gold Ltd. Mr Shorrocks was previously the Chairman of Bellevue Gold Ltd during the initial discovery stages.

Steve is Managing Director of Bellevue Gold (ASX: BGL) which has discovered +2.3 Moz of gold @ 10 g/t in just over two years and grown Bellevue to an ASX300 Company.

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Non-Executive Director Mr. Michael Naylor

Michael has 24 years’ experience in corporate advisory and public company management since commencing his career and qualifying as a chartered accountant.

Michael has been involved in the financial management of mineral and resources focused public companies serving on the board and in the executive management team focusing on advancing and developing mineral resource assets.

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Chief Operating Officer Mr. Darren Cooke

Darren is a geologist with 24 years’ experience having previously held senior positions in global majors including Barrick Gold, Newmont and Northern Star Resources.

Darren has had extensive

gold industry experience in Australia and North America spanning regional and near mine exploration, operational geology, long-term planning and corporate development.

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Chief Geologist Mr. Marcus Harden

Marcus is a geologist with extensive gold and base metals exploration and management experience throughout Australia, Africa, Asia and the Americas.

He has played key roles in the discovery and definition of more than 9 million ounces of gold globally with ASX listed junior companies. Three of these projects are currently operating and one is in development.

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4

GROWTH VISION

Build a globally relevant and sustainable resources company focused on value creation for shareholders and the communities in which we operate

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COMMODITY

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Gold Focused ±Ag ±Cu

JURISDICTION

Canada & USA

PEOPLE, SAFETY & SOCIAL LICENCE

• Develop and maintain our human capital

• Operate in a safe and socially and environmentally responsible manner

• Develop respectful and mutually beneficial partnerships with communities in which we operate

GEOLOGY

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Known Mineral Districts Camp Scale Opportunities

SCALE

>1Moz Discovery >100koz p.a.

DEPOSITS

High Grade & Continuous, Metallurgically simple

ORGANIC GROWTH

• Advance near mine and regional exploration targets to add value (Discover, Define)

• Grow existing Resource and build 'a highquality mining inventory

• Utilise existing infrastructure to maximum benefit

INORGANIC GROWTH

• Evaluate, acquire and/or partner on accretive assets that complement our growth strategy

• Be agile to take advantage of opportunities in a dynamic and ever-changing world

• Plan for (and expect) growth

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5

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HIGHLIGHTS TO DATE

Strong progress in a short timeframe after commencing the Pickle Crow JV

15 Jul 2021 RESOURCE RESULT MILESTONES Updated 28 Jan 2021 JORC 17 Feb 2020 27 May 2020 1 Sep 2020 11 Nov 2020 16 Jun 2021 GROUND Resource of GROUND ADDITION DRILLING RESOURCE DRILL RESULTS DISCOVERY Strategic staking adds Initial 5,000m Updated JORC ~13km of drilling completed, ADDITION Carey Target 1.7Moz @ 130km2 of ground drilling Resource of 1Moz Results outside Resource: Strategic staking Results include: 8.1g/t Au to project campaign @ 11.3g/t Au 3.6m @ 8.2g/t, 2.0m @ 3.8g/t adds 176km2 of 20.4m @ 5.3g/t , 16.5m @ commences Pickle Lake 2.2g/t, 13.8m @ 2.0g/t greenstone belt Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 16 Jun 2021 26 Mar 2020 29 Jun 2020 1 Sep 2020 19 Jan 2021 7 Apr 2021 EXPLORATION RESOURCE DRILL RESULTS DRILL RESULTS DRILL RESULTS DRILL RESULTS TARGETING Maiden JORC Resource of Expanded 45,000m ~19.4km of drilling ~31km of drilling 45km program completed. Initial exploration 830koz @ 11.6g/t Au program starts. completed. completed. Extension results include: targeting completed Results outside Resource: Results outside Resource: Results include: 3.3m @ 8.0g/t, 4.6m @ 1.6m @ 25.8g/t, 1.6m @ 19.6g/t, 5.6m @ 33.4g/t, 1.6m @ 5.0m @ 9.5g/t , 1.5m @ 7.5g/t, 1.3m @ 21.4g/t, 0.6m @ 99.4g/t, 3.0m @ 7.4g/t, 16.7g/t, 19.3g/t, 1.0m @ 34.9g/t, 0.6m @ 42.9g/t 4.9m @ 4.4g/t 2.0m @ 8.2g/t, 4.0m @ 5.9g/t 0.6m @ 313.0g/t

CORPORATE MILESTONES

28 Jan 2020 13 Mar 2020 29 Apr 2020 6 Jul 2020 JV ANNOUNCED JV COMMENCES PLACEMENT PLACEMENT A$30.4M Auteco and First Mining Completion and A$5.1M $30.4M raise at Gold announce JV execution of JV $5.1M raise at $0.135/share Agreement at Pickle Agreement $0.035/share Crow

18 Mar 2021

JV MILESTONE 51%

Expenditure requirement ($5M) to earn 51% of Pickle Crow met

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6

ASSET SUMMARY

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Pickle Lake is one of the highest-grade historic gold mining camps in Canada – Pickle Crow underground mine produced 1.5 Moz at 16.1g/t Au

LOCATION	•	400km north of Thunder Bay, Ontario, Canada
	•	Daily flights to Pickle Lake
ACCESS	•	Paved highway and sealed roads
	•	Access 365 days per year
HISTORIC	•	3.1Mt @ 16.1g/t Au for 1.5Moz (1935 – 1966)
PRODUCTION
RESOURCE	•	6.6Mt @ 8.1g/t Au for 1.71Moz (MY 2021)
	•	496km2, 106 Patented Mining Claims
TENEMENT HOLDING	•	Regional exploration tenure focus on Pickle Lake
		Greenstone Belt and Sioux Lookout
UNDERGROUND	•	3 main shafts (#1, #3 & Albany)
INFRASTRUCTURE	•	38km of lateral development
	•	Processing plant (225tpd, never commissioned)
SURFACE	•	24-person camp
INFRASTRUCTURE	•	600kw generator
	•	Core processing facility
POWER	•	Grid connected hydro-power

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7

PICKLE CROW GEOLOGICAL SETTING

World-class tier one mining district in Ontario, Canada

CONTINENT TECTONIC ELEMENT PROVINCE Laurentia North Superior America Craton

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REGION
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DEPOSIT
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Uchi SubPickle Lake Pickle Crow province Greenstone & Central Belt Patricia

THE UCHI SUBPROVINCE One of the best gold addresses globally

• Located in the prolific Uchi Sub province of the Western Superior Craton

• Archean Granite – Greenstone terrane that hosts significant gold deposits, including:

o Red Lake (Evolution Mining)

o Musselwhite (Newmont)

o Springpole (First Mining)

Uchi Subprovince

o Madsen (Pure Gold)

o Dixie (Great Bear)

o West Red Lake (West Red Lake Gold)

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GEOLOGY AND LAND HOLDING

Exploring the prolific Pickle Lake greenstone belt

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CONTINENT TECTONIC ELEMENT PROVINCE
Laurentia
North Superior
America Craton
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Uchi Subprovince

REGION DEPOSIT Pickle Lake Pickle Crow Greenstone & Central Belt Patricia

NORTHERN PICKLE LAKE GREENSTONE BELT

~500km2 of under-explored tenure

DEPOSIT GEOLOGY

A classic narrow-vein high-grade gold system

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Unpatented Claims
Pickle Crow JV
(AUT to 80%, FMG)
100% AUT
Patented Claims
Pickle Crow JV
(AUT to 80%, FMG)
Mafic to Int. Volcanics
Mafic Intrusion
Felsic to Int. Volcanics
Granitoids
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• Structurally controlled Archean greenstone hosted Mesothermal Orogenic Gold

Deposit Classification

• Lower mafic sequence (predominantly basalt) with interflow sediments, including BIF

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Host Rocks
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• Calc-Alkaline volcanics and volcaniclastics intruded by qtz-feldspar porphyry

• Timiskaming-type conglomerates

• Multi-phased (D1-D4) isoclinally folded and faulted sequence with local disruptions adjacent to the plutons

Structure

• Regional greenschist facies, locally

• Metamorphism Amphibolite proximal to intrusions

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MINERALISATION AT THE PICKLE CROW DEPOSIT

A prolific under-explored camp with multiple mineralisation styles

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Laurentia North Superior America Craton

Uchi Subprovince

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Pickle Lake Pickle Crow Greenstone & Central Belt Patricia

Multiple mineralisation styles and a newly revised geological interpretation demonstrate potential for future discoveries

VEIN HOSTED GOLD

The mainstay of historic production

1.47Moz @ 10.1g/t in MY2021 Resource

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• Narrow (<3m) high-grade quartz-scheelite-sulphide veins:

• Main historic Ore Source (free milling)

• 30 vein arrays identified

• Typically strike NE and dip ~75[o] NW

• Can be laterally continuous (e.g., Vein 1 has been traced over 900m of strike and depths >1,500m)

• Internal high-grade shoots

ALTERATION HOSTED GOLD Potential for bulk mineralisation

0.24Moz @ 3.7g/t in MY2021 Resource

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• Gold-bearing sulphide alteration zones

• Quartz veins and stringers with an auriferous halo (sulphide replacing iron minerals)

• Zones can be >20m in thickness

• o Main host rock is the reactive BIF horizons, however this is also observed locally in other rock types (e.g., porphyry, basalt)

• This is the most common

  • mineralisation style at the Central Patricia deposit (650koz @ 13.0g/t gold)

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10

STRATEGIC WORK PLAN

Strong progress made in the advancement of Pickle Crow

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AuTECO Work Plan – September 2020 to July 2021

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Key ASX
1 Sept 2020 11 Nov 2020 19 Jan 2021 7 Apr 2021 16 Jun 2021 15 Jul 2021
Updates
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul
2021
2020
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202 S Aug	ep	Oct Nov Dec Jan 202	Mar Ap Feb	May r Jun	Jul
MID YEAR 2020 RESOURCE		NEAR MINE EXTENSIONS & EXPLORATION		RESOURCE DEFINITION	MID YEAR 2021 RESOURCE
As at 1 Sep 2021					As at 30 June 2021
COMPLETED		CURRENT PROGRAM COMPLETED ~30,000m DD		COMPLETED ~10,000m DD	COMPLETED JULY 2021
		Update the Resource estimate as at September	2020		RESULT
		45,000m diamond drill program		REGIONAL	1,710,000 Ounces at
KEY		Discover new lodes and extend known vein lodes		EXPLORATION	8.1g/t gold
OBJECTIVES	  	Infill drill newly discovered / extended lodes Commence testing of early stage conceptual targets Deliver Resource update as at 30 June 2021		COMPLETED ~5,000m DD	VEIN: 1.47Moz BIF: 0.24Moz	at 10.1g/t at 3.7g/t

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STRATEGIC WORK PLAN HIGHLIGHTS TO DATE

FOCUS

DELIVERED HIGHLIGHTS TO DATE

• Resource upgrade to 1Moz gold at a grade of 11.3g/t

Mid Year 2020 Resource

• Prepared in accordance with the JORC Code (2012 Edition)

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• ~30,000m of near mine extension drilling completed

• Successfully discovered mineralised vein structures in the near-mine environment outside of the current Resource

Near Mine Extension

• Continued to identify extensions to the known Resource veins

• Key drill results delivered outside of the current Resource included:

• 0.6m @ 313.0g/t , 0.6m @ 42.9g/t , 1.0m @ 34.9g/t , 5.6m @ 33.4g/t , 1.2m @ 29.7g/t , 1.5m @ 26.6g/t , 1.3m @ 21.4g/t , 1.5m @ 19.3g/t , 1.6m @ 19.2g/t , 1.5m @ 19.3g/t , 1.2m @ 11.9g/t , 5.0m @ 9.5g/t , 3.6m @ 8.2g/t , 3.3m @ 8.0g/t , 2.3m @ 7.8g/t , 4.9m @ 7.5g/t , 4.6m @ 7.5g/t , 3.0m @ 7.4g/t

Resource Definition

Regional Exploration

• ~10,000m of definition drilling completed

• Infill drilling completed on some of the newly discovered veins and extensions

• This data forms the basis of the updated MY2021 Resource estimation

• ~5,000m of conceptual early stage exploration target testing completed

• Early success with the Carey Discovery ( 20.4m @ 5.3g/t )

Drilling year to date has been focused on growth and determining the size potential of the mineralised system

Mid Year 2021 Resource

• 6.6Mt @ 8.1g/t gold for 1.71Moz, including:

• Vein Resource of 4.5Mt @ 10.1g/t gold for 1.47Moz

• • BIF Resource of 2.1Mt @ 3.7g/t gold for 0.24Moz

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12

MID YEAR 2021 RESOURCE UPDATE

1.7 Million Ounces of Gold and Still Growing

Mineralisation Domain	Lower Cut-off	Tonnes (Mt)	Gold Grade (g/t)	Gold (Million oz)	Variance to September 2020 Resource
Quartz Lodes	3.5g/t	4.5	10.1	1.47	+ 0.47Moz
Banded Iron	2.0g/t	2.1	3.7	0.24	+ 0.24Moz
TOTAL		6.6	8.1	1.71	+ 0.71Moz

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The 45,000m drill program from September 2020 to June 2021 resulted in the addition of 710,000oz at A$15.25 per Resource Ounce

Auteco Inferred Mineral Resource as at 30 June 2021. Please refer to ASX dated 15[th] of July 2021 for details

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• Continued Resource growth achieved in the high grade quartz vein hosted gold (+0.47Moz) taking the total to 1.47Moz at 10.1g/t

• Maiden JORC Resource in the shallow broad Banded Iron (BIF) hosted gold system, totalling 0.24Moz @ 3.7g/t

• The BIF style mineralisation may be amenable to bulk mining methods , either open pit or

• underground. High-level assessment is in progress

• Orebody remains open in all directions, with recent in-mine drilling confirming exceptional results outside of the 1.7Moz Resource

• A Resource update is planned for the end of the year ( as at 31 December 2021 )

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13

EXPLORATION & GROWTH UPDATE

Building Momentum: Recent Highlights (June-July 2021)

LONG TERM GROWTH

GENERATIVE

• Mapping and reconnaissance rock chip sampling conducted South of the Resource area

• Ground magnetic survey continue

• Numerous outcropping veins traced and mapped at Springer prospect

• Rock chip samples include: • 145.7g/t gold

• 6.2 g/t gold

• 5.7g/t gold

• Ground magnetics identified multiple structural offsets and demagnetised zones

DISCOVERY

• First-pass drill testing of conceptual targets in the northern near-mine area

• Discovery of the Carey zone , an intersection between the Albany porphyry contact and other NE trending dykes & veins

• Assays include:

• 20.4m @ 5.3g/t gold

• • 13.8m @ 2.0g/t gold

• • 16.5m @ 2.2g/t gold

• 6.5m @ 4.6g/t gold

PATHWAY TO PRODUCTION

RESOURCE GROWTH

• Continued step out and exploration in the near mine area

• Drilling to extend Resource

• RESOURCE UPDATE – 1.7Moz

• • Discovery of new structure >250m from other AUT holes

• 4.9m @ 7.5g/t gold

• • Extensions of known veins , will contribute to Resource update. Assays include: • 1.3m @ 21.4g/t gold

• 3.3m @ 8.0g/t gold

• • 4.6m @ 7.5g/t gold

• • 0.6m @ 42.9g/t gold

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14

NEAR MINE EXPLORATION & RESOURCE TARGETING

Shaft 3 Continues to Demonstrate Growth Potential

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AUDD0152: 4.9m @ 7.5g/t gold

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Further New Structures & Extensions to Underpin Year End Resource Update

• Hole AUDD0152 ( 4.9m @ 7.5g/t gold ) is a newly discovered structure >250m away from previous Auteco drilling, and remains open in all directions

• Drilling around shaft 3 is continuing to delineate a cluster of mineralisation to the North West of the current Resource. Results include:

• 3.3m @ 8.0g/t gold

• 4.6m @ 7.5g/t gold

• 1.3m @ 21.4g/t gold

• 1.3m @ 27.9g/t gold

• 0.6m @ 42.9g/t

• Further results have been recently received outside of the 1.7Moz Resource

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15

THE CAREY DISCOVERY

First Testing of a Conceptual Target

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AUDD0158: 20.4m @ 5.3g/t gold

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Carey is the zone of structural disruption around the contact of the Albany porphyry and the intersection of later stage porphyritic dykes and NW-SE trending structures

These structures have acted as fluid conduits

This style of mineralisation is different to the vein hosted gold in the current 1Moz Resource

It is hosted in broad disseminated sulphide-rich alteration halos and qtz-sulphide veinlets

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REGIONAL RECONAISSANCE EXPLORATION

Mapping, Outcrop Sampling and Ground Magnetics Continue to Define Targets

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Regional reconnaissance exploration has commenced away from the near mine area

Detailed ground magnetic surveys are successfully delineating structural offsets and demagnetised zones

Rock chip sampling of outcropping quartz veins mapped as part of the regional program at Springer, located ~2kms south west of Shaft #1, returned gold assay results of:

145.7g/t, 6.2g/t, 5.7g/t, 4.3g/t, 1.5g/t, 1.46g/t

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17

EXPLORATION AND GROWTH POTENTIAL

A strong and balanced pipeline of exceptional projects

• Require a strategic review and planning session after the MY21 Resource has been updated

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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|session after the MY21 Resource has|
|EXPLORATION|
|been updated|Regional Targets|
|Generative|
|Near-mine Targets|
|Carey Ext|Shaft 3 Deeps|DEFINITION|
|Porphyry Conglomerate Array|Drill Testing|PRODUCTION|
|Vn 19 Deeps|Crowshore|Carey|Vn 19 HW|Vn 2 SW|Resource|
|Reserve|
|Identification|
|Vn 5 Deeps|Vn 9 Deeps|Vn 2 SW|Vn 2 Ext|Strickland|Definition|Grade|
|V1 Deeps|V1 HW|V1 Parallel|SW BIF|Vn 13 Links|Albany Pit|Vn 101|Near-mine BIF|Vn 22|Control|
|Pathway to|
|Sawmill|Lakeshore|NE Stringer|Vn 9 Up dip|Vn 13|Vn 20|Vn 23|Shaft 3 Stack|Vn 123|Production|>4yrs|
|(Subject to Success)|
|Powderhouse|McArthur SZ|East Pat|Metcalf|Springer|Shaft 1 Vein Extension|Vn 122|Activities|
|East Pat|Tarp Lake|
|Loom SZ|Crowshore NE|Cent Pat East|No. 6 BIF|Tarp|
|Detailed definition|
|Lake|
|Mitchell|Drilling with density to|of mineralisation to|
|Tarp SZ|Kawinogans|GA-|Field Zone|Drilling with density to prove|prove sufficient|assist with|
|81|sufficient mineralisation|mineralisation continuity|extraction of|
|NE Core|Mariposite|First pass drill testing of|for the estimation of M&I|
|continuity for the estimation of|Reserves in a|
|early-stage targets,|
|T7|Early stage data|identification of areas with|Inferred Resource|Resources, and therefore conversion to Ore|mining operation|
|acquisition and conceptual|Resource potential|
|Reserves|
|target generation|
|e.g., mapping, geochemistry,|e.g., Exploratory diamond, RC,|e.g., Step-out drilling, drilling to|e.g., Infill drilling to 20m by|e.g., probe drilling, additional|
|geophysics, concepts, interpretation|Aircore|80m by 80m, Supports scoping|20m, Supporting data for|infill drilling, channel|
|level studies|feasibility study|sampling, blast hole|
|sampling|
|18|

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FORWARD WORK PLAN

Key Strategic Work Pillars for Pickle Crow to December 2021

LONG TERM GROWTH

RESOURCE UPDATE

GROWTH & EXPLORATION

• Continue the dual strategy of Near Mine Resource growth and Regional Discovery focused exploration

• Complete an updated Mineral Resource Estimate , prepared in accordance with the JORC Code (2012 Edition)

• Mid-year 2021 update completed ( 6.6Mt @ 8.1g/t for 1.71Moz )

• Board approval for a further 50,000m of drilling

• Between 4 and 6 drill rigs on site at any one time

• Update interpretation for new drill results

• At least 2 dedicated to regional and conceptual exploration and the remainder focused on Resource additions

• Continue re-interpretation and re-sampling of historic drilling

• Continue generative work (mapping, surface sampling, geophysical data acquisition)

• Update Resource as at 31 December 2021

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PATHWAY TO PRODUCTION

PATHWAY TO PRODUCTION

• In anticipation of success, commence high level activities to demonstrate the pathway to production

• Commencement of Advanced Exp permitting

• Conceptual optimisation and development option reviews • based on MY2021 Resource

• High level Assessment of milling infrastructure

• High level assessment of UG infrastructure and re-access options and capital requirements

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Note: Auteco forward work plan to the end of 2021 - Please note that timeframes are indicative.

AUTECO – A COMPELLING INVESTMENT OPPORTUNITY

In summary

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AuTECO has built a strong platform for future growth Having advanced the historic Pickle Crow gold project to be one of the highest-grade emerging +1Moz Resources globally, work will continue to explore, define and grow the asset

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LOCATION
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THE ASSET
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UPSIDE
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CORPORATE & TEAM
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One of the best mining addresses in the world

A long history of delivering high-grade gold

Exceptional exploration targets and strong drill results to date

Well funded to deliver with a quality experienced team

• Operating in a stable Tier 1 mining jurisdiction (Ontario, Canada)

• Located in a prolific mineral belt with >40Moz gold endowment (Superior Craton, Uchi Sub-province)

• Pickle Crow has a long history of high-grade gold mining, 1.5Moz @ 16.1g/t produced (1935-63)

• Independently estimated Resource of 1.7Moz at 8.1g/t Au

• Year-round access with quality Infrastructure and a large regional land holding

• Limited modern systematic camp-scale exploration conducted by previous owners

• Promising near mine drill results to date, demonstrating extensions to known structures and discovery of mineralised vein arrays

• Historical data highlights regional

• potential, with km-scale mineralised trends - limited testing

• Healthy cash balance to deliver growth ($26.8M at 31 Mar 2021)

• 50km drill program in progress, 4 rigs on site

• Corporate & management team with experience, expertise and a track record of delivery

• Experienced, talented and established team on the ground in Canada

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PICKLE CROW GOLD PROJECT, ONTARIO, CANADA

A RAPIDLY ADVANCING HIGH-GRADE GOLD PROJECT

E: info@autecominerals.com

W: www.autecominerals.com

PICKLE CROW RESOURCE ESTIMATE – JULY 2021

Independent JORC 2012 Resource estimate for the Pickle Crow Gold Project (ASX 15[th] July 2021)

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Mineralisation Domain	Lower Cut-off	Tonnes (Mt)	Gold Grade (g/t)	Gold (Million oz)	Variance to September 2020 Resource
Quartz Lodes	3.5g/t	4.5	10.1	1.47	+ 0.47Moz
Banded Iron	2.0g/t	2.1	3.7	0.24	+ 0.24Moz
TOTAL		6.6	8.1	1.71	+ 0.71Moz

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Gold lower cut off is stated in the table above. Totals rounded to reflect acceptable precision
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APPENDICES – PICKLE CROW ACQUISITION

Earn-in up to 80% – First Mining Gold Inc

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Earn-in Details[1] :

• Auteco paid C$50,000 to First Mining (TSX: FF) in STAGE 1 EARN-IN signing binding term (51%): STAGE 2 EARN-IN sheet. Upon signing the • Spending C$5,000,000 (UP TO 70%): formal agreement: over three years • Auteco to spend a

• • A further C$50,000; comprising: further C$5,000,000

• and • C$750,000 within a 12in 2 years after

• • 25,000,000 Shares in month period satisfaction of Stage the capital of (Expenditure Payment 1 Earn-in Auteco (issued 23[[rd]] 1); (Expenditure Payment 3); and

• 25,000,000 Shares in month period the capital of (Expenditure Payment Auteco (issued 23[[rd]] 1); April 2020)

• C$4,250,000 within a 24month period after • Cash payment of Expenditure Payment 1 C$1,000,000 in 90 is satisfied; and days of completing expenditure

• • Subject to shareholder Payment 3

• approval, Auteco will (Expenditure

• issue First Mining Payment 4).

• Subject to shareholder approval, Auteco will issue First Mining 100,000,000 Shares.

BUY IN:

• Auteco may buy a further 10% interest by paying C$3,000,000 to First Mining; and

• • Auteco will grant First Mining a 2% NSR granted after the Stage 2 Earn-In. Auteco has the right to purchase back 1% of the NSR for US$2,500,000.

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1Refer ASX release on 28 January 2020 https://www.asx.com.au/asxpdf/20200128/pdf/44djz58bhz86z0.pdf