FIRST AU LIMITED — Investor Presentation 2021

Aug 18, 2021

ASX: FAU

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Disclaimer

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ASX Listing Rule Compliance

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.

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 Drilling 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.

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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Com an Summar p y y

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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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Cor orate Overview p

Capital Structure	Capital Structure
Shares on issues	~614.629M
Listed options (ASX: FAUOA)	~462.103M
Market Cap @ 13/08/2021	$7.356M
Cash @ 30/06/2021	~$2.4M
Enterprise Value (EV)	~$4.956

Ownership

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42.00%
58.00%
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First Au Share Price

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0.03
0.025
0.02
0.015
0.01
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0.005
0
FAU
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Top 20 Shareholders All other shareholders

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Board & Mana ement g

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Bryan Frost Executive Chairman, Managing Director	Mr Frost has had a long and distinguished career over 5 decades in stockbroking and the financial services industry and has been a chairman and director of multiple listed public companies and in particular ASX listed mining companies. Mr Frost is chairman of Peregrine Corporate Limited, which operates under a Financial Services Licence. In this role he was instrumental in the listing of De grey Mining and Atlas Iron, among others.
Ryan Skeen Chief Executive Officer	Mr Skeen brings to First Au valuable experience and a deep understanding of financial and economic markets, while providing investment and strategic advice to complex situations. He is well versed in various capital raisings including IPOs, placements, and rights issues, and is well focused on business development and growth. Ryan has provided corporate advisory advice to emerging companies and is largely focused on exploration companies in gold, rare earths and base metals.
Richard Revelins Non-Executive Director	Mr Revelins is a founding Director of Peregrine Corporate Limited and also a Managing Director at Cappello Group Inc in Los Angeles, USA. He has over 30 years of experience with international investment banks in the area of corporate finance and corporate advice. Mr Revelins has predominantly specialised in mining and natural resources and was the former Chairman of Atlas Iron Limited as well as a director of numerous other public and private companies.
Damon O’Meara Non-Executive Director	Damon O’Meara has had a 40-year involvement in the mining and prospecting industry through Denis O’Meara Prospecting. After working in exploration for decades Mr O’Meara founded and operated Outback Trees of Australia, working primarily with major mining companies including BHP, Rio Tinto, FMG, Chevron, Woodside, Atlas Iron and BC Iron providing commercial landscaping and irrigation to remote mining sites.
Michael Quinert Non-Executive Director	Mr Quinert is a founding partner of QR Lawyers Pty Ltd which was established in July 2009. Mr Quinert possesses specific expertise in assisting corporations to complete IPOs and has assisted numerous groups across a range of industry sectors to successfully list on the ASX. Mr Quinert is Chairman of ASX listed West Wits Mining Limited (ASX: WWI) and is a Non-Executive Director of First Graphene Limited (ASX:FGR).

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Technical Team

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Dr. Gavin England Technical Director

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.

Ian Neilson, MSc RP GEO Chief Geologist

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 yrs. 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.

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East Gi sland – What is the O ortunit ? pp pp y

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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 Gi sland – Pro ect Overview pp j

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

• First movers on new geological thinking and advanced exploration techniques

• 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)

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East Gi sland - Tenements pp

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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 Gi sland – Historical Minin pp g

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• Historical high-grade gold production at many of First Au’s prospects

• Previous exploration was limited by technology

• FAU geologists note free gold is present. Metallurgical work in ongoing

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East Gi sland – Snowstorm pp

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• First Au’s most advanced Victorian prospect, having completed maiden drill program recently

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

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East Gi sland – Snowstorm cont. pp ( )

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East Gi sland – Snowstorm cont. pp ( )

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33% of Au deposits in Walhalla-Woods Point region are related to the Woods Point Dyke Swarm

The first round of drilling recognised a new analogue to the Woods Point Dyke Swarm with the discovery of a mafic dyke swarm associated with quartz-reef and shoot gold mineralisation at Snowstorm

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East Gi sland – Haunted Stream pp

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• First Au’s flagship Project, showing 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

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East Gi sland – Haunted Stream cont. pp ( )

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Sample Sample
location location
Rock chip
sample location
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• Historical exploration at Ernestine was limited in depth by challenges with air-flow and water

• First Au’s intends on following the historical workings which are open at depth to test for mineralisation

• First Au is progressing its permit application to commence drilling of these targets

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East Gi sland – Do wood pp g

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• The Dogwood porphyry copper prospect , indicate that intrusion-related, copper-bearing hydrothermal systems operated during Silurian to Devonian time in the Yeoval tract

• Previous exploration shows high copper grades within the intrusion, and high molybdenum grades in host rocks

• A review by the Geological Survey of Victoria (GSV) concluded that the drilling undertaken by CRA and Anglo American Prospecting, did not go deep enough to test the intrusive aureole

• First Au geologists are in the process of interpreting historical exploration and will provide an update in the near future

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Western Australia – Gimlet

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• The Gimlet Gold Project is strategically positioned 15km NW of Kalgoorlie , in an area rich in infrastructure and potential toll treatment options

• First Au recently announced an upgraded 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

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Western Australia – Gimlet cont. ( )

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• The adjoining tenements of Horizon Minerals (ASX: HZR) in the south, containing the Teal , Jacques Find and Peyes gold deposits ( 289,000 oz Au )

• To increase the mineralised footprint at Gimlet , the next phase of exploration planned involves aircore drilling of new structural targets identified during 2020 litho-structural analysis

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South Australia – Mabel Creek

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• First Au has recently secured over 1,000km[2] 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

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South Australia – Mabel Creek cont. ( )

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• 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

• The area overlapping the First Au’s tenure was identified as one of five key gold targets within the Gawler Craton by the winner of the Challenge

• Previous exploration is limited, but historic work by Vale Exploration shows evidence of “ potential distal IOCG alteration ” at the Harlequin Prospect

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South Australia – Mabel Creek cont. ( )

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A key target for exploration occurs along a demagnetised portion of strata, interpreted as a potential “outflow zone” through a major structure

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U comin Ex loration Activit p g p y

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• Drilling to recommence in East Gippsland at Snowstorm in early-mid September. 1,500m program planned to follow up on previous promising results

• Snowstorm 8

• Following drilling program at , assay results will follow approx. weeks after completion

• 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 in Q4 2021 at Haunted Stream and Snowstorm

• Anticipated granting of remaining tenement at Mabel Creek , with exploration plan to follow soon after

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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

Media & PR Contacts:

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Rod North Managing Director Bourse Communications

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

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