GREAT BOULDER RESOURCES LIMITED — Investor Presentation 2021

Feb 7, 2021

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Exploring World Class Gold & Nickel Projects in Western Australia

February 2021 | ASX: GBR

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Important Information

Purpose of presentation : This presentation has been prepared by Great Boulder Resources Limited (ACN 611 695 955) (GBR). It is intended for the sole purpose of providing high-level background information on GBR, its projects and its proposed operations. This presentation is not investment advice and should not be relied upon to make any investment decision.

Nature of presentation : This presentation is not a prospectus, product disclosure statement or other investment disclosure document, and the level of disclosure in this presentation is less that such disclosure documents. It does not purport to contain all of the information that a prospective investor may require to make an evaluation of GBR or its business activities and nothing in this presentation is, or is intended to be, a recommendation to invest in GBR. GBR does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation.

No offer : This presentation does not make or contain any offer of securities or any other offer to invest in GBR to any person. Potential investors should consider GBR’s Prospectus dated 12 September 2016 (Prospectus), available on its website, www.greatboulder.com.au and GBR’s announcements to ASX.

Professional advice : Recipients of this presentation should consider seeking appropriate professional financial, taxation and legal advice in reviewing the presentation and all other information with respect to GBR and evaluating its business, financial performance and operations.

Forward-looking statements : This presentation contains forward-looking statements which may be predictive in nature and incorporate an element of uncertainty or risk, such as ‘intends’, ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’ or ‘expects’. These statements are based on an evaluation of current economic and operating conditions, as well as assumptions regarding future events. These events are, as at the date of this presentation, expected to take place, but there cannot be any guarantee that such will occur as anticipated, or at all, given that many of the events are outside GBR’s control. The stated events may differ materially from results ultimately achieved. Accordingly, neither GBR nor any of its directors, employees, contractors or advisors make any warranty or assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this presentation will actually occur. Further, other than as required by law, GBR may not update or revise any forward-looking statement if events subsequently occur or information subsequently becomes available that affects the original forward-looking statement.

Disclaimer : Neither GBR nor its officers, employees, contractors or advisers make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in this presentation. Nothing contained in this presentation is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. GBR excludes all warranties that can be excluded by law. Except for statutory liability which cannot be excluded, GBR, its officers, employees, contractors and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission therefrom.

Proprietary information and copyright : This presentation and the information it contains is proprietary to GBR. GBR holds the copyright in this paper. Except as permitted under the Copyright Act 1968 (Cth), this paper or any part thereof may not be reproduced without its written permission.

Exploration Results : The information in this presentation concerning exploration results on GBR’s projects is contained in ASX announcements available on its website, www.greatboulder.com.au. GBR confirms that it is not aware of any new information concerning exploration results that materially affects the information included in its ASX announcements.

Hannan Street in 1930. The Exchange Hotel is in the centre, with the Palace Hotel on the right.

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GREAT BOULDER RESOURCES

High quality Gold & Nickel projects in Western Australia

Side Well, Meekatharra

✓ High grade, advanced targets ✓ Drilling underway

• ✓ Close to infrastructure

Whiteheads, Kalgoorlie

• ✓ Blue Poles discovery, 2020 ✓ Drilling continuing ✓ Multiple prospects

Yamarna, Northeast Yilgarn

• ✓ Mt Venn & Eastern Mafic discoveries ✓ Large metal endowment defined ✓ Cu-Ni-Co sulphides

Winchester, Northeast Yilgarn

• ✓ Cu-Ni-Co sulphides ✓ Higher Ni tenor

• ✓ Ideal complement to Yamarna

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Great Boulder Resources

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CORPORATE & TEAM

188.1M $8.1M Shares on issue Market Cap ASX: GBR At $0.043/sh $1.2M Nil Cash Debt As at 31 Dec 2020 As at 31 Dec 2020 $6.9M 8.25M Enterprise Value Unlisted Options Av. Ex-Price: $0.085, Exp: 18 Mar 22 to 30 Sep 23 6.0% Retzos Holdings 3.7% 2.8% Daly Family 2.2% Mr David Rothwell 85.3% Zebina Minerals Pty Ltd Other

Directors & Management

Non-Executive Chairman Greg Hall 40+ years experience Managing Director Andrew Paterson 25+ years experience Non-Executive Director Melanie Leighton 20+ years experience Exploration Manager Daniel Doran 15+ years experience Melanie Ross Company Secretary Key Consultants John Beeson Chief Structural Geologist Scott Halley Chief Geochemist John Coggon Chief Geophysicist

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SIDE WELL

An advanced, high-grade gold project

• Located immediately northeast of Meekatharra in the richly endowed Murchison goldfields

• Meekatharra region has produced c.4Moz gold with over 2.7Moz remaining in resources[1]

• Covers 132km[2] of highly prospective Meekatharra – Wydgee greenstone belt over 25km of strike

• Option to acquire 75% of the project from Zebina Minerals Pty Ltd

• Strategically positioned between Meekatharra and Latitude Consolidated’s Andy Well gold mine with Westgold’s Bluebird Mill only 15km south of Meekathara

• High grades intersected in drilling by Doray Minerals (now Silver lake) between 2009 & 2015

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1. Figures for Meeka North, Paddy’s Flat & Yaloginda projects are taken from the ASX:WGX announcement of 11/2/2020. Production and resources for Andy Well can be found on the Silver Lake website www.silverlakeresources.com.au

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SIDE WELL

High priority target areas

• Regional fold structure within the project: prospective geology on the west side is repeated on the east

• ➢ Mulga Bill : drilling has defined a +3.7km-long mineralised trend, open to the south

• ➢ Matilda : 3m @ 35.5g/t in the same horizon as the Paddy’s Flat area; no drilling for 400m either side

• ➢ Jones Well : coincident gold-arsenic anomaly in WMC soil sampling; in an ideal structural position

• Outside these three areas the project remains entirely unexplored, including the whole east side of the fold structure

• Prospectors active on outcropping areas near Jones Well, and east of Mulga Bill

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Drilling (maximum down-hole Au) & advanced target areas over regional magnetics

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SIDE WELL

High-grade Mulga Bill Prospect

• Discovery holes by Dominion Mining in 1993

• RC drilling by Doray Minerals (2009 & 2015)[1]

• ➢ 10m @ 3.41g/t Au from 185m in SWRC006

• ➢ 26m @ 3.35g/t Au from 86m in SWRC012

• GBR’s RC and AC drilling has extended Mulga Bill to over 3.7km

• ➢ 7m @ 3.35g/t Au from 122m in 20MBRC004

• ➢ 2m @ 12.94g/t Au from 105m in 20MBRC009

• ➢ 13m @ 2.37g/t Au from 78m in 20MBRC008

• 4,200m of AC drilling ongoing to infill and define mineralised zones

• RC drilling program planned for March/ April to follow up significant intersections and target primary gold zones and strike extensions

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Mulga Bill: Maximum down-hole Au over conductivity (50 to 150mbs).

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1. Refer to GBR’s ASX announcement of 14 July 2020 for JORC Table 1 details

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SIDE WELL

Current & Planned Exploration

• Exploration strategy is to generate a pipeline of projects, ranging from definition drilling through to greenfields discoveries

• Ongoing AC drilling to infill and define mineralisation at Mulga Bill

• RC drilling at Mulga Bill: March/ April 2021

• CSIRO research program: March 2021

• Initial AC drilling at Matilda: Q2-CY2021

• Auger geochemistry programs over residual soils (Jones Well, Side Well East): March 2021

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Side Well prospect locations over GSWA 1:500k geology interp

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WHITEHEADS PROJECT

Ideal location in a proven gold district

• Located 45km north of Kalgoorlie in the heart of WA’s tightly held goldfields

• Surrounded by majors - adjacent to Norton Goldfields and Northern Star

• Covers 450km[2] in area; over 25km of strike

• An amalgamation of areas previously held under fragmented ownership by a number of companies

• Tenure surrounds the 215koz @ 1.69g/t Au Lindsays resource (Nu Fortune Gold Ltd)[1]

• The T5 nickel sulphide discovery at Carr Boyd by Estrella Resources located immediately to the North highlights the nickel potential at Whiteheads

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KalNorth GoldMines: Annual Report to Shareholders 31/10/2018

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WHITEHEADS PROJECT

Geology & key targets

• Straddles the Kalgoorlie and Kurnalpi Terranes, both of which host significant gold deposits

• Multiple historic workings over 20km of strike

• Very large gold-in-soil auger anomalies, including

• ➢ 6.5km of strike on the line of workings between Lady Betty and Seven Leaders

• ➢ 5.5km of strike on the Arsenal trend

• Blue Poles discovery on the Arsenal trend, 2020

• Multiple undrilled analogue anomalies along strike

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1:500k GSWA interpreted geology

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WHITEHEADS PROJECT

The Arsenal trend

• Initial auger sampling confirmed a coherent goldin-soil anomaly over 3.8km long at +10ppb Au, open to the south

• Initial AC drilling discovered gold over a 1km strike length at Blue Poles

• RC drilling at Blue Poles intersected up to 52m @ 1.02g/t from 28m to EOH in fresh rock, open to the south

• Re-validation of historic auger data has extended the Arsenal trend anomaly to +5km, with a Blue Poles lookalike to the north

• Multiple other prospects requiring testing

• Additional potential under cover, and in the southern tenements

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Results from the maiden RC drilling at Blue Poles

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WHITEHEADS PROJECT

Current & Planned Exploration

• Detailed gravity survey complete and processing underway to identify nickel sulphide targets at depth and generate additional gold targets

• Ongoing auger sampling on Arsenal trend north & south of Blue Poles

• Working up a pipeline of prospects from geochem through to definition

• Follow up RC drilling program planned upon the completion of gravity data processing and target planning: March/ April 2021

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YAMARNA

An emerging Cu-Ni-Co belt

• First-mover advantage – GBR was able to peg the most prospective areas based on gravity and magnetic data

• Strategic land position located 130km east of Laverton and 25km west of Gold Road’s and Gold Fields’ +6Moz Gruyere Gold Mine

• Targets based on conceptual models for magmatic nickel sulphides at regional scale

• Mt Venn Cu-Ni-Co discovery 2017: massive sulphides drilled in the first target

• Complimentary Winchester project (JV with Ausgold Ltd) added in 2019

• Significant gold potential yet to be explored

• GBR is currently undertaking Strategic Review on Yamarna and Winchester

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GBR’s Yamarna and Winchester projects

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YAMARNA

Mt Venn Base Metal Discovery

• Discovery made in first drilling campaign, October 2017. Over 13,700m drilled since then

• Every EM target drilled at Mt Venn has intersected sulphides

• Multiple, broad lenses of shallow copper-nickel-cobalt sulphide mineralisation intersected. Significant results include[1] :

• ➢ 48m at 0.8% Cu, 0.2% Ni, 0.07% Co from 103m

• ➢ 18m at 0.8% Cu, 0.1% Ni, 0.02% Co from 187m

• ➢ 18m at 0.7% Cu, 0.2% Ni, 0.05% Co from 92m

• ➢ 27m at 0.6% Cu, 0.2% Ni, 0.05% Co from 43m

• ➢ 4.4m at 1.7% Cu from 142.4m

• ➢ 9.5m at 1.0% Cu from 178m

• Sulphide mineralisation extends to surface with very little weathering or oxide cap

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17MVDD003 – Basal contact with interstitial chalcopyrite and pyrrhotite within very coarse-grained gabbro (108m)

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17MVRCD008 – Semi-massive and stringer pyrrhotite with chalcopyrite (113m)

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1. All intersections are reported as down-hole widths

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CONSISTENT NEWSFLOW

Parallel Aggressive Exploration To Provide Ongoing Newsflow

Q1-CY2021 Q2-CY2021 Jan Feb Mar Apr May Jun Side Well Meekatharra AC Drilling RC Drilling Whiteheads Kalgoorlie Geophysics / Target Generation Follow-up RC drill program

Yamarna Northeast Yilgarn

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Strategic Review

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Greatboulder.com.au
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Greatboulder.com.au (08) 9321 6037 L1, 51 Colin St West Perth WA 6005 admin@greatboulder.com.au

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