FIRST AU LIMITED — Investor Presentation 2021

Sep 23, 2021

ASX: FAU

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Disclaimer

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This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, First Au Limited (the Company) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of the Company. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, the Company does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

ASX Listing Rule Compliance

In accordance with Listing Rule 5.23.2, the Company confirms in this subsequent public report that it is not aware of any new information or data that materially affects the information included in any previous market announcements and, in the case of estimates of mineral resources or ore reserves, that all material assumptions and technical parameters underpinning the estimates in any previous market announcements continue to apply and have not materially changed.

For the purposes of Listing Rule 5.23.1, the relevant Company announcements which refer to these exploration results or estimates of minerals are:

• “First Au to Acquire Victoria Gold Exploration Project”, released 3 June 2020, which included a Competent Person’s Statement from Dr Gavin England.

• “First Au to Accelerate Exploration at Victorian Gold Project”, released 30 October 2020, which included a Competent Person’s Statement from Dr Gavin England.

• “Mapping and Sampling at Snowstorm Project Produces Rock Chips up to 112 g/t Au”, released 1 December 2020, which included a Competent Person’s Statement from Dr Gavin England.

• “Early Drill Results Positive at Snowstorm”, released 7 April 2021, which included a Competent Person’s Statement from Dr Gavin England.

• “Snowstorm Intersects Mineralised Dyke Swarm” released 10 June 2021, which included a Competent Person’s Statement from Dr Gavin England.

• “JORC Resource Increase at Gimlet to Inferred Resource of 120,000 ounces Au”, released 23 June 2021, which included a Competent Person’s Statement from each of Dr Gavin England and Mr Andrew Bewsher.

• “Copper Porphyry Potential at Dogwood Prospect, Victoria”, released 22 September 2021, which included a Competent Person’s Statement from Dr Gavin England.

Competent Person Statement

The information in this announcement that relates to exploration results is based on information compiled by Dr Gavin England, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geosciences. Dr England is a consultant to First Au Limited (“FAU”). Dr England declares in accordance with the transparency principles of the JORC Code that he has a personal financial interest in the transaction referred to in this Public Report in that he controls G L England Pty Ltd an entity which owns 5% of the issued shares of Victorian Goldfields Pty Ltd. Dr England has also been appointed to the board of directors of FAU as Technical Director. Dr England has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr England has consented to the inclusion in this Public Report of the matters based on his information in the form and context in which it appears in this report.

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Corporate Overview

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• Primary focus on Gold and Copper projects in East Gippsland, Victoria

• Significant landholding in this underexplored region, covering ~2,450km

• Primary East Gippsland targets at Snowstorm (gold), Haunted Stream (gold) and Dogwood (copper)

• Maiden ~1,370m drill program at Snowstorm indicated potential evidence of veins carrying gold >30 g/t Au (refer ASX announcements 7 April 2021 and 10 June 2021)

• WA based prospect, Gimlet, contains JORC Inferred Resources of 120,000oz Au @ 3.2g/t Au (refer ASX announcement 23 June 2021)

• Recently announced Mabel Creek project in the Gawler Craton, South Australia prospective for Iron Oxide Copper Gold (IOCG)

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Company Summary

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Capital Structure
Shares on issues	614.629M
Listed options (ASX: FAUOA)	462.103M
Market Cap@ 22/09/2021 $0.014 per share	$8.605M
Cash@ 30/06/2021	$2.4M
Enterprise Value (EV)	$6.205M
Numbers have been rounded and may vary from the actual amount

0.03 0.025 0.02 0.015 0.01 0.005

First Au Share Price ($)

Ownership
Top 20 Shareholders	38.06%
All other Shareholders	61.94%
Accurate at close of market 22/09/2021

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FAU
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Board & Management

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Bryan Frost Ryan Skeen Richard Revelins Michael Quinert Damon O’Meara Paul Godfrey Chairman & Chief Executive Non-Executive Non-Executive Non-Executive Company Secretary Managing Director Officer Director Director Director

• Over 5 decades • Experience in financial experience in and economic markets stockbroking and and providing financial services investment and

• • Has been Chairman and strategic advice Director of multiple • Well versed in various listed companies capital raisings including

• • Significant experience in IPOs, placements, and mining companies rights issues

• • Currently Chairman • Corporate advisory AFSL holder Peregrine experience focused on Corporate Limited exploration companies

• 30 years of experience • Founding partner of • 40-year involvement • Senior Associate of QR with international QR Lawyers Pty Ltd in the mining and Lawyers Pty Ltd investment banks in • Possesses expertise in prospecting industry • Substantial experience the area of corporate assisting corporations through Denis in IPO’s and ASX finance and corporate to complete IPOs and O’Meara Prospecting related matters advice has worked across a • Founder of Outback •

• investment banks in • Possesses expertise in prospecting industry • Substantial experience the area of corporate assisting corporations through Denis in IPO’s and ASX finance and corporate to complete IPOs and O’Meara Prospecting related matters advice has worked across a • Founder of Outback • Joint Company

• • Founding Director of range of industries on Trees if Australia , Secretary of West Wits Peregrine Corporate successful IPO’s working primarily with Mining Limited (ASX: Limited and Managing • Chairman of West major mining WWI) Director at Cappello Wits Mining Limited companies including Group Inc in Los (ASX: WWI) and NonBHP, Rio Tinto, FMG, Angeles, USA Executive Director of Chevron, Woodside,

• • former Chairman of First Graphene Atlas Iron and others Atlas Iron Limited Limited (ASX:FGR).

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Technical Team

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Dr. Gavin England Technical Director

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Ian Neilson MSc RP GEO Chief Geologist

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PGN Geoscience Geological Consultant

Dr England adds substantial technical experience to the board of First Au. He has extensive local and international experience with many mining companies including, Normandy Group, Consolidated Minerals, Gold Fields, Lion Ore, Impact Minerals, Energy and Minerals Australia and Magnetite Mines.

Dr England has been involved in the First Au Gimlet discovery and instrumental in the acquisition of the Victorian Goldfields Project and Mabel Creek Project

Ian is a structural geologist, with significant exploration and mining experience in orogenic gold, porphyry copper, base-metal deposits throughout the world through his consulting over the past 18 years. He has worked for Newmont, First Quantum Minerals, BHP, Newcrest Mining, Placer Dome, KCGM and many more.

Ian’s mapping and targeting resulted in the Discovery and subsequent development of Hidden Secret UG Gold Mine Kalgoorlie in 2016 and recently, his structural geological work and drill targeting has contributed significant value to several major Victorian Gold Explorers and continues to manage effectively his own independent consulting business, PGN Geoscience

PGN Geoscience is a group of experienced geoscience professionals, specialising in structural geology applied to exploration problems. They work with First Au to integrate geophysical data, modelling and structural interpretation.

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East Gippsland – What is the Opportunity?

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Before 440 million years, the Ordovician rock sequence that hosts the Central Goldfields of Victoria (Fosterville, Bendigo, Walhalla/Woods Point) was along strike to First Au’s project area.

Around 435-380 million years, the tectonic plate containing Tasmania, collided with the Australia Plate. The collision caused the Lachlan Fold belt to bend like a “big Z” around the Tasmanian “indenter”, with the rocks containing Haunted stream shifting to East Gippsland.

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East Gippsland – Project Overview

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• Tenure covers historic goldfields around Swifts Creek , Haunted Stream and Dogwood , as well as significant alluvial gold production areas

• Snowstorm shows evidence of high-grade gold >1oz/t Au (>30g/t Au) from recent drilling and rock chip samples up to 123g/t Au (refer ASX announcements 7 April 2021 and 10 June 2021)

• Historical records at Haunted Stream show ore being extracted at 15-30g/t Au , with some reefs producing >150g/t Au (refer ASX announcement 3 June 2020)

• Historical drilling at Dogwood produced intersections of 13.2m @ 1.33% Cu , 30m @ 0.5% Cu and 2m @ 8 g/t Au (refer ASX announcement 22 September 2021)

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East Gippsland – Tenements

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GOLD
COPPER
GOLD
COPPER GOLD
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Commanding strategic landholding based on key area selection criteria identified by First Au geologists

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East Gippsland – Snowstorm

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• High-grade gold rock chips ( up to 112 g/t Au ) sampled by

• FAU geologists highlight a reef structure open along strike and down dip (refer ASX announcement 1 December 2020)

• Compilation of historic exploration data at Snowstorm

• prospect, provides evidence of high-grade mineralisation, with drill intersection above 35 g/t Au and mullock samples up to 123 g/t Au (refer ASX announcement 30 October 2020)

• Intersections from maiden drill program include;

• 3.1m @ 11.6 g/t Au from 53m, including 0.8m @

• 33.3 g/t Au from 54m

• 1.2m @ 8.5 g/t Au from 63.6m including 0.2m @

• 49.3 g/t Au

(refer ASX announcements 7 April 2021 and 10 June 2021)

• New drill program has recommenced at Snowstorm targeting SW extension of SNDDH002 and SW extension of SNDDH005

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East Gippsland – Haunted Stream

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• Haunted Stream shows potential for significant high-

• grade gold continuity, indicated from historical workings and rock chip sampling over an 8.5 km strike length

• Historic mine records from the Victorian Government,

• show ore being extracted typically 15-30g/t Au , with some reefs producing > 150 g/t Au (refer ASX announcement 3 June 2020)

• The Ernestine prospect is the initial priority at Haunted

• Stream , with drill targets identified by our geological team

• The workplan for drilling permits has been submitted to

• ERR for approval

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East Gippsland – Dogwood

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• The Dogwood Prospect was discovered by Australian Anglo

• America Prospecting (AAAP) in 1980 and last drilled by CRA Exploration in 1993 and 1994 , but little recent exploration has been conducted within the area.

• Drill intercepts show anomalous molybdenum grades within

• the intrusion, and high copper grades in host rocks above the terminus of the intrusion and around a vertical apophysis above the main intrusion.

• A review of CRA drilling data produced intersections including: • 13.2m @ 1.33% Cu (hole finished in mineralisation as shown in the image)

• 30m @ 0.5% Cu including 8m @ 1.2% Cu

• 2m @ 8 g/t Au

(refer ASX announcement 22 September 2021)

• Once granted, initial drilling will look to replicate historical

• results produced by CRA, with a focus on testing the mineralisation at greater depth

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South Australia – Mabel Creek

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• First Au has recently secured over 1,000km2 of tenure

• within the highly prospective Mabel Creek area of the northern Gawler Craton

• The Olympic Dam Cu-Au province contains tier-1 Iron

• Oxide Copper Gold (IOCG) deposits

• Mabel Creek tenure is surrounded by tenements from

• major mining houses, including BHP , RIO , FMG and Oz Minerals

• The Mabel Creek area was identified by the winner and runner-up of the SA Government “ Gawler Challenge ” as one of the key prospective areas underexplored for IOCG and Central Gawler-style Au Mineralisation

• First Au is working towards undertaking early-stage

• exploration works in the coming months

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Western Australia - Gimlet

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• The Gimlet Gold Project (E26/174 & MA26/849) is strategically positioned 15km NW of Kalgoorlie , in an area rich in infrastructure and potential toll treatment options

• First Au recently announced inferred resource of 1,166,000 tonnes at 3.2g/t Au for 120,000 ounces at a 1 g/t cut-off (refer ASX announcement 23 June 2021)

• First Au is progressing a mining lease application and views Gimlet as having potential for a mining operation

• New structural targets were identified during a 2020 litho-structural analysis by FAU geologists. These areas identified, have had limited previous drilling and present potential for new targets.

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Upcoming Exploration Activity

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• Drilling has recommenced in East Gippsland at Snowstorm with a minimum 1,500m program under way. First Au will release periodic results from the program as they become available

• Anticipated granting of further tenements in East Gippsland, with porphyry copper prospect , Dogwood included. Anticipated to be finalised in Q4 2021 . Early exploration planning already underway

• LIDAR survey to be undertaken in Q4 2021 at Haunted Stream and Snowstorm with geological interpretation to follow

• Initial exploration plan for Mabel Creek to be prepared in Q4 2021

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Thank
you
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Key Company Contacts:

Ryan Skeen +61 409 000 479 CEO rskeen@firstau.com Bryan Frost +61 418 898 885 Chairman, Managing Director bfrost@firstau.com

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Media & PR Contacts:

Rod North Managing Direction Bourse Communications

+61 408 670 706 rod@boursecommunications.com.au

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