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GOLDARC RESOURCES LIMITED Investor Presentation 2021

Dec 21, 2021

64961_rns_2021-12-21_a1f2fc18-d0f3-442a-9ca4-8cf37416754c.pdf

Investor Presentation

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ASX / MEDIA ANNOUNCEMENT 22 DECEMBER 2021 ABN: 72 002 261 565 ASX CODE: TNR

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TORIAN INVESTOR PRESENTATION - CORRECTION

Gold exploration and development company Torian Resources Limited (ASX: TNR) ( Torian or the Company ) has corrected the attached the updated Investor Presentation “Discovering the gold mines of tomorrow. Today.”

The correction reflects that the Tarmoola Station (Station) owners do not need to approve all third party works at the station, rather the Station owners must be notified of, and have the rights to object to all third party activities at the Station.

This announcement has been authorised for release by the Company Secretary, Ian Pamensky.

Peretz Schapiro Executive Director Torian Resources Ltd [email protected]

About Torian Resources Limited:

Torian Resources Limited (ASX: TNR) is a highly active gold exploration and development company with an extensive and strategic land holding comprising six projects and over 400km² of tenure in the Goldfields Region of Western Australia. All projects are nearby to excellent infrastructure and lie within 50km of major mining towns.

Torian’s flagship Mt Stirling Project is situated approximately 40km NW of Leonora, and neighbours Red 5’s Kind of the Hills mine. The region has recently produced approximately 14M oz of gold from mines such as Tower Hills, Sons of Gwalia, Thunderbox, Harbour Lights and Gwalia.

The Mt Stirling Project consists of 2 blocks:

  1. The Stirling Block to the north which contains two JORC compliant resources at a 0.5g/t cut-off: (refer ASX release 27/5/21 for further information)

  2. a. Mt Stirling – 355,000t at 1.7 g/t Au for 20,000oz (Indicated)

    • 1,695,000 at 1.5 g/t Au for 82,000oz (Inferred)
  3. b. Stirling Well – 253,500t at 2.01 g/t Au for 16,384oz (Inferred)

  4. The Diorite Block to the south, home of the historic 76 g/t Diorite King Mine.

Another project in the Kalgoorlie region is the Zuleika project in which the Company is involved in a JV with Zuleika Gold Ltd (ASX: ZAG). The Zuleika project is located along the world-class Zuleika Shear, which is the fourth largest gold producing region in Australia and consistently produces some of the country’s highest grade and lowest cost gold mines. This project lies north and partly along strike of several major gold deposits including Northern Star’s (ASX: NST) 7.0Moz East Kundana Joint Venture and Evolution’s (ASX: EVN) 1.8Moz Frogs Legs and White Foil deposits.

Torian’s other projects within the Kalgoorlie region include the Bonnie Vale and Gibraltar Projects, and its Credo Well JV with Zuleika Gold Ltd (ASX: ZAG), host of a JORC Inferred resource of 86,419t at 4.41 g/t Au for 12,259 oz.

Torian also holds ~10.7% of Monger Gold (ASX:MMG) as well as a 20% free carried JV interest in its projects.

Torian is the Pastoral Lease holder of the 172,662 hectare Tarmoola Station, which is home to Torian’s Mt Stirling Project, in addition to exploration assets and operating mines of numerous other resource companies, including RED5 (ASX:RED) and St Barbara (ASX:SBM).

There are numerous operating businesses on the Tarmoola station including a 20 person accommodation camp with approvals in place to expand to a 50 person camp, a mining services business, and cattle farming. The station is also entitled to an average of approximately $360,000 worth of carbon credits over a 15 year period.

Torian holds approximately 7% of BullionFX, a gold backed crypto currency company. As a shareholder of 15,000,000 shares Torian is entitled to 15,000,000 BULL tokens. The paper value of Torian’s tokens is ~USD$12.5m.

Discovering the gold mines of tomorrow. Today.

Investor Presentation December 2021

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ASX: TNR

Important information

This presentation has been prepared by and issued by Torian Resources Limited ABN 72 002 261 565 ( Torian or Company ) to assist in informing interested parties about the Company and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

This presentation may contain forward looking statements. Whilst Torian has no reason to believe that any such statements are either false, misleading or incorrect, it cannot and does not warrant or guarantee that through either the passage of time or actions beyond the control of Torian they will not become so.

You should not act and you must refrain from acting in reliance on any of this presentation material. Nothing contained in this presentation constitutes investment, legal, tax or other advice. This overview of Torian does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. Before making an investment decision, you should conduct, with the assistance of your broker or other financial or professional adviser, your own investigation in light of your particular investment needs, objectives and financial circumstances and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation prior to making any investment decision.

Neither the Company nor its advisers has verified the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by law, the Company make’s no representation and give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omissions, from any information, statement or opinion contained in this presentation.

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The information in this presentation relating to any exploration results, exploration targets and JORC mineral resource estimates is based on information compiled, reviewed and relied upon by Mr Dale Schultz. Mr Dale Schultz, Principle of DjS Consulting, who is Torian’s consulting Geologist, compiled, reviewed and relied upon prior data and ASX releases dated 25 February 2019 and 26 May 2021 to put together the technical information in this release and is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr Schultz has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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’. Mr Schultz consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

The JORC Resource estimate referred to in this presentation was released on 25 February 2019 and has been reviewed and relied upon by Mr Dale Schultz and were reported in accordance with Clause 18 of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code).

Torian Resources confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements on the 25 February 2019 and 26 May 2021 and, in the case of the exploration results, that all material assumptions and technical parameters underpinning the results in the relevant market announcement reviewed by Mr Dale Schultz continue to apply and have not materially changed.

Torian, its officers, employees, authorised representatives, consultants and its associates, officers and family members do currently and in the future may have interests in the securities of the Company. In addition, Torian’s advisors will earn commissions, fees and other benefits and advantages, whether pecuniary or not and whether direct or indirect in connection with the Capital Raising(s) for the Company, advising and providing services to the Company. This presentation contains information, ideas and analysis which are proprietary to Torian.

Torianresources.com.au | Investor Presentation − December 2021

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Company Highlights

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Highly active explorer across numerous gold projects in Western Australia

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Existing MS JORC inferred resources of 2.05Mt @ 1.54g/t Au for 102k oz and SW 0.3Mt @ 2.01g/t Au for 16.4k oz – Upgrades Pending

Located in the prolific Excellent infrastructure Genuine potential to Key focus on the highly and highly sought after nearby including discover a Gwalia / prospective Mt Stirling Eastern Goldfields access roads and mills King of the Hills / Gold Camp; Ursus Thunderbox style Fault and High-Grade gold deposit Diorite potential Active exploration and Highly enthusiastic Continuing investment Strategic review drilling campaign to management to expand land continues to unlock continue throughout committed to position and organic value from non-core 2022 generating aggressive and growth to generate assets whilst strong news flow systematic exploration immediate cash flow maintaining upside strategy opportunities

Torianresources.com.au | Investor Presentation − December 2021 3

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Corporate overview

Board of Directors

  • Mr Paul Summers Executive Chairman

  • • Mr Peretz Schapiro Executive Director • Mr Dale Schultz Non Executive Technical Director

Management

  • Mr Claudio Sheriff-Zegers

Exploration Manager Tarmoola Station Manager Company Secretary

• Mr Joseph Armstrong

• Mr Ian Pamensky

Top 10 Shareholders

Top 10 Shareholders
• Nova Minerals Ltd (ASX:NVA) 10.53%
• Yukor Mipoz
• Mr Pat Murtagh
4.90%
4.53%
• Citicorp Nominees 3.05%
• BullionFX 2.54%
• Mr Paul Summers (TNR Executive Chair) 2.46%
• Ost-Kim Pty Ltd 2.43%
• BNP Paribas Nominees 1.81%
• Kushkush Investments Pty Ltd 1.51%
• Mr Peretz Schapiro (TNR Executive Director) 1.44%
Top 10 + Board 36.8%

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TNR: Ordinary Shares
TNRO: Listed Options
ASX Codes TNROB: Listed Options
Current Shares 1,090,042,093
Unlisted Options (ex $0.10 Expiring 9/4/2023) 11,000,000
Unlisted Options(ex $0.042 Expiring 29/07/2024) 20,000,000
Unlisted Options (ex. $0.026 Expiring 5/2/2024 24,000,000
Listed Options (ex $0.02¢ Expiring 7/2/2022) 268,285,139
Listed Options (ex $0.035¢ Expiring 30/11/2023) 349,419,175
Share Price (03/12/2021) $0.023
Market Cap (Undiluted) $25M
Cash ~2.5M

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Torianresources.com.au | Investor Presentation − December 2021

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Directors and Management

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Executive Chair, Mr Paul Summers: Legal Practitioner since 1985, and founded his own firm, Summers Legal in 1989. Paul has been the company’s counsel for more than 10 years and has provided extensive advice and service during the recent takeover of Cascade Resources Ltd. Paul is currently Lead Counsel-Commercial, Corporate and Property of Summers Legal and is familiar with the company’s affairs, projects and strategy.

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Executive Director, Mr Peretz Schapiro: A global investor for almost a decade with a deep understanding of fundamental parameters, strategic drivers, market requirements and what it takes for a high growth business. Peretz has a professional background in management consulting, marketing, and fundraising. Peretz hold a Masters degree in Applied Finance. Peretz is also the Non-executive Chairman of ASX listed Okapi Resources Limited (ASX: OKR) and Non-executive Chairman of Monger Gold Limited (ASX: MMG).

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Technical Director, Mr Dale Schulz: Over 30 years of experience in the mining and exploration industry in North and South America. Dale has has a M.Sc. from the University of Saskatchewan. Mr. Schultz has been the Qualified Person (QP) for several projects across the Americas, including Nova Mineral's Estelle project. Mr. Schultz has also extensive experience in numerous other gold mining operations in Canada, and brings with him invaluable experience ranging from initial exploration stages through to underground and open pit mine production of large gold systems.

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Exploration Manager, Mr Claudio Sheriff Zegers: Strong project management and regional exploration experience, having also explored northwest of Leonora with Round Oak Minerals’ (Subsidiary of Washington H. Soul Pattinson and Co. Ltd (ASX:SOL)) Jaguar project, advancing Au and VMS Exploration. Claudio has a strong track record of nourishing exploration teams to technical success, discovery and growth. Claudio has a wealth of experience across multiple Eastern Goldfields projects. From target generation and systematic ranking, pragmatic exploration to discovery and managing all aspects through to resource drill-out, including high-grade narrow vein Au, epithermal Au, structural Cu-Au, base metals, VMS, BHT, IOCG/ISCG, and HREE’s deposits. Claudio has15+ years exploration and mining experience across multiple commodities and geological settings throughout Australia, Indonesia and Chile.

Torianresources.com.au | Investor Presentation − December 2021

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Flagship project: Mt Stirling Gold Project

  • ~ 74km[2 ] of tenure

  • Prime location – region has produced ~14Moz of gold

  • Adjacent to Red 5 (ASX:RED) 4.1Moz King of the Hills Mine; and St Barbara (ASX:SBM) advanced prospects

  • 2 Existing JORC resources:

  • Mt Stirling Resource of 2.05Mt at 1.54g/t Au for 102koz (20koz Indicated 82k oz Inferred)

  • Mt Stirling Well Inferred Resource of 253.5k t at 2.01g/t Au for 16.38koz

  • Global Resource update due Q1 2022

  • Tenure hosts historic 73g/t Au Diorite King mine and 563g/t Au Little Wonder mine

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Torianresources.com.au | Investor Presentation − December 2021

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Upcoming Expected News Flow

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17,500M RC & AV multiple target and prospect drill program commenced in November 2021

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Positive initial HG results from Diorite North; Hydra and Tyrannus preliminary drilling advanced and awaiting results

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Updated Global Mineral Resource Estimate Due in Q1 2022 (subject to drilling efficiency and lab timelines)

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Ongoing systematic exploration to vector on structure and test ranked priority targets enabling discoveries across tenure

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Torianresources.com.au | Investor Presentation − December 2021 7

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2021/2022 Exploration – Mt Stirling Viserion

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The Mt Stirling / Viserion gold system's strike extends approximately 1.16Km from the SE to the NW, and runs at least 250m at depth. System remains open in all directions

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  • Current JORC Resource of 2.05Mt at 1.54g/t Au for 102koz (20koz Indicated 82koz Inferred)

  • 38 holes for 5,000M of RC drilling planned to Infill and extend top 125m to Indicated Resource

  • Extend the strike and selective depth of the gold system

  • 5 holes for 1,120m to test the NW extension of the Viserion System

  • Open along strike and at depth

  • Interim resource only included ~740m Strike

  • Pit Optimisation Study scheduled for Q1 2022

  • Mineralisation from surface = Suitable for low waste open pit mining

Torianresources.com.au | Investor Presentation − December 2021

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2021/2022 Exploration – Skywing

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  • First phase of 18 holes for 1,800m of RC drilling

  • 24 pierce points over ~450m strike indicates flat easterly dipping lodes increasing in grade towards the east

  • All intercepts were outside of previous MRE

  • Potential for repeated stacked flat mineralisation repetition

  • Inclusion into the optimisation study to assess economics of potential open pit

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Skywing lode(s) vary from 1-2m true width and provide an immediate prospective shallow open pittable interpreted extents. (~800m x 200m from surface)

Torianresources.com.au | Investor Presentation − December 2021

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2021/2022 Exploration – Hydra

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AV & pXRF has delineated a ~440m strike >100ppm As with a peak 3,023 As surface anomaly located on an inflection of Viserion Shear

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  • 12 holes for 980M of RC planned drilling to test interpreted target strike zone, and confirm extension of historical primary gold intercepts

  • Potential for sub-parallel mineralised structural links on either flank of the Viserion shear zone

  • 5 discrete >500ppm As target zones currently being RC tested

  • 5 DHs complete for 575m; awaiting assays

  • Favourable cross-cutting structures observed @ prospect; considerable depth of regolith oxide developed over NW of prospect; ultramafic encountered in drilling, along with prospective quartz veining and minor fuchsite

  • Further systematic assaying of AV drill data likely to expand the target zones for future drill phases

Torianresources.com.au | Investor Presentation − December 2021

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2021/2022 Exploration – Tyrannus

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  • 20 holes for 1,600m of RC drilling to test 14 shallow >0.10 g/t Au target zones including 7 >1.00 g/t Au zones; with peak 1m @ 8.09 g/t Au

  • Drilling to target sub-vertical NE dipping interpreted lodes

  • Look to identify flat-dipping orientations that may shallowly or sub-vertically dip towards the Ursus Fault

  • Tyrannus targets are structurally significant with some situated on an inflection and splay junction of the Wonambi Shear termination onto Ursus Fault ~400m east of the Mt Stirling gold mineralisation

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  • Highly likely to merge onto and along strike of the Mt Stirling SE mineralised Au lode positions

Tyrannus position is along strike of Red5 (ASX:RED) Cerebus-Eclipse (2.8Mt @ 1.2g/t Au for 112k oz) and Centauri (1.7 Mt @ 1.5g/t Au for 81.3k oz) deposits

Torianresources.com.au | Investor Presentation − December 2021

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2021/2022 Exploration – Stirling Well

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Current JORC Inferred Resource of 253.5k t @ 2.01g/t Au for 16.38koz

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  • 35 drill holes for 3,506m drilled in 2020/21 to be included in updated resource

  • Drilling increased the footprint of gold mineralisation with results returning highgrade gold beyond the maiden resource boundary

  • Significant intercepts include:

  • 1m @ 8.44 g/t Au

  • 3m @ 6.50 g/t Au ; inc 1m @ 16.81 g/t Au

  • 2m @ 2.95 g/t Au; inc 1m @ 4.92 g/t Au

  • Tenor of high-grade intercepts are also significantly above the global resource grade

  • Additional 12 holes for 1,250m planned to further expand resource

Torianresources.com.au | Investor Presentation − December 2021

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2021/2022 Exploration – Diorite North

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  • The Estera Lode was discovered adjacent to and along strike from the Unexpected Mine workings which produced @ an average grade of 47.2 g/t Au from 119.38 t (processed 1922-23)

  • Recent high grade intercepts include:

  • 3m @ 9.47 g/t Au from 37m; inc 1m @ 25.46 g/t Au from 37m

  • 2m @ 12.18 g/t Au from 20m; inc 1m @ 14.67 g/t Au from 21m

  • 4m @ 4.86 g/t Au from 52m; inc 1m @ 18.79 g/t Au from 55m

  • Trace pyrrhotite has been identified downdip, providing vectoring geophysical potential to mineralisation

  • 6 holes for 750m to extend the strike and target Estera Lode down-dip interpreted plunge extension

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The Diorite tenements are host to the historic Diorite King mine that produced gold at 76 g/t with the tenor of grade rumoured to remain at the mine (17.67 g/t Au) on par with the recently discovered Estera Lode’s Au intercepts.

Discovered in 1894, Diorite’s Little Wonder shallow depth mining produced a phenomenal 1000 oz per tonne Au

Torianresources.com.au | Investor Presentation − December 2021

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2021/2022 Exploration – Regional Exploration

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  • 5,000m of AV drilling and systematic pXRF surveys are planned for ongoing regional exploration at the Mt Stirling Gold Project

  • Regional exploration from Mt Stirling Central has generated multiple arsenic and multi-element anomalies from surface pXRF surveys

  • pXRF surveys have previously been used to discover:

  • Viserion surface arsenic footprint ; which led to the discovery of Viserion HG Au lode

  • Hydra Au target trends ; currently being drill tested

  • Tyrannus arsenic footprint and AV oxide Au from surface ; also currently advancing maiden RC

  • Exploration has delineated priority Stirling Well West structural targets with coinciding surface pXRF arsenic anomalism

  • Further systematic assaying of AV drill data likely to expand the target zones for future drill phases

AV drilling provides clean uncontaminated samples of overburden and oxide material above hard rock basement that are screened by pXRF for vectoring elements and minerals which are contoured to map out dispersion of interest.

AV provides a low impact and cost-effective method to detect out the leakage of mineralised systems onto interpreted structures and prospective lithological contacts.

Torianresources.com.au | Investor Presentation − December 2021

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Mt Monger Spin Off

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  • TNR has spun off the Mt Monger and Gibraltar Projects into a separate ASX listing (ASX:MMG)

  • TNR owns 10.7% of MMG plus a 20% JV interest in its projects until BFS, at which point TNR can elect to take a 2% gross royalty

  • Mt Monger is adjacent to Silver Lake Resources’ (ASX:SLR) flagship Mt Monger Mine (Daisy Complex)

  • Recent drilling intercepts at Mt Monger include:

  • 8m @ 16.15 g/t Au from 60m including 1m @ 111.40 g/t Au from 61m and 1 m @ 15.01 g/t from 63m

  • 8m @ 31.84 g/t Au from 66m including 1m @ 37.04 g/t Au from 68m, 1m @ 181.12 g/t Au from 69m and 1m @ 190.06 g/t Au from 70m

  • MMG recently traded at $0.235c per share equating to a $6.58M market cap with ~$3.8m cash in the bank

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Torianresources.com.au | Investor Presentation − December 2021

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Tarmoola Station Acquisition

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Agreement signed to acquire 172,662 ha Tarmoola Station

Independent valuation of >$4m

Operating businesses generating free cash flow include:

Sale of ~300 head of cattle per year

20-person accommodation camp (approvals and infrastructure in place to upgrade to 50-person camp)

Mining Services Business with existing regional customers (Includes ~ 1.1M of plant and equipment)

Station to receive ~ $360,000 per annum in carbon credits (15 year annualised)

Acquiring station plus accommodation and mining services businesses will reduce per ounce discovery costs and hasten future exploration / mining permits

Torianresources.com.au | Investor Presentation − December 2021

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Tarmoola Station Strategic Acquisition

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Station owners must be notified and have the right of objection to third party activities at the station. Including:

  • Tenement licenses

  • Access roads

  • Exploration work (sampling, drilling etc).

  • Mining operations and capital works for mining operations

Major mining companies at the station include:

  • Red 5 (ASX:RED)

  • Northern Star (ASX:NST)

  • St Barbra (ASX:SBM)

  • Round Oak Jaguar (ASX:SOL)

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Acquiring the station positions Torian as a key landholder in the region, providing it with excellent leverage in the event of future negotiations with its neighbours

Torianresources.com.au | Investor Presentation − December 2021

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BullionFX Investment

  • BullionFX are a fully audited gold backed crypto

  • BullionFX earns revenue by charging a 12-basis point fee for every trade of its gold token

  • Torian has purchased 5m shares in BullionFX for 20c per share in addition to receiving 10 million advisor shares (equating to an ~7% stake) in exchange for $US1m of Torian shares at $0.0452 per share

  • Torian is entitled to 15m BULL tokens

  • BULL tokens have listed on Digifinex and have recently traded at ~US$0.50 per token and as high as ~US95c per token

  • Torian will look to partner with BullionFX by selling its gold and capitalising on their relationships in the gold space

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Torianresources.com.au | Investor Presentation − December 2021

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Right timing for investment

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Steady news flow with aggressive exploration across the Mt Stirling Gold Camp plus upside from our Credo Well and Zuleika JV and Mt Monger spin off

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Quality Right Early Proven Set for Moving assets location success model growth forward

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Torianresources.com.au | Investor Presentation − December 2021 19

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