GWR GROUP LIMITED — AGM Information 2016

Nov 28, 2016

2016 AGM Presentation

Craig Ferrier, CEO 29 November 2016

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Disclaimer
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These materials include forward looking statements. Forward looking statements inherently involve subjective judgment & analysis & are subject to significant uncertainties, risks & contingencies, many of which are outside of the control of, & may be unknown to, the company.

Actual results and developments may vary materially from that expressed in these materials. The types of uncertainties which are relevant to the company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the company & general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.

Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the company undertakes any obligation to publicly update or revise any of the forward looking statements, changes in events, conditions or circumstances on which any such statement is based.

Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward looking statements include estimates of future production, cash and total costs per ounce of production, reserve and mineralised material estimates, capital costs, and other estimates or prediction of future activities. They include statements proceeded by words such as “believe,” “estimate,” “expect,” “intend,” “will,” and similar expressions. Actual results could differ materially depending on such things as political events, labour relations, currency fluctuations and other general economic conditions, market prices for GWR Group products, timing of permits and other government approvals and requirements, changes in operating conditions, lower than expected ore grades, unexpected ground and mining conditions, availability and cost of materials and equipment, and risks generally inherent in the ownership and operation of mining properties and investment in foreign countries.

The information in this presentation which relates to Exploration Targets, Exploration Results and Mineral Resources or Ore Reserves is based on information compiled by Mr Allen Maynard, who is a Member of the Australian Institute of Geosciences (“AIG”), a Corporate Member of the Australasian Institute of Mining & Metallurgy (“AusIMM”) and independent consultant to the Company. Mr Maynard is the Director and principal geologist of Al Maynard & Associates Pty Ltd and has over 35 continuous years of exploration and mining experience in a variety of mineral deposit styles. Mr Maynard has sufficient experience which is 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 “Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves”.(JORC Code). Mr Maynard consents to inclusion in the presentation of the matters based on this information in the form and context in which it appears.

Details concerning the JORC-2012 Resource Estimate for the Hatches Creek Tungsten Project (including table 1 report) and referred to in this presentation are set out in the ASX announcement of Arunta Resources Ltd dated 23 September 2014.

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Strategy and Vision
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 Focus on cash generating opportunities

– Advanced stage opportunities

 Sector focus on gold, base and specialty metals – High value products in stable jurisdictions

• Move away from iron ore and bulk commodities – Long lead time, high capital costs and long payback

 or Direct participation equity investment – Retain capabilities, recover costs and generate management fees

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2016 Highlights
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Hatches Creek – Acquired for $500,000

• Replaced JV structure

• – Dump sampling highlights polymetallic potential

• – Drilling recently completed

Wiluna West Gold – Investigating near term mining opportunities

– Discussions with Blackham Resources underway – Regional targets being assessed

• Tungsten Mining

• – $1m funding for major acquisition

• Mt Mulgine progressing towards production

• Infrastructure sharing discussions underway

• Excelsior Gold

• – $2m funding in June 2016

• – Successful due diligence identified production risks

• New management team in place, risks being addressed

Hatches Creek Acquisition

 Acquired for $500,000



Replaced earn-in JV spending $1.5m

 Highly prospective stratigraphy, previously mined for high grade tungsten  Recent sampling highlights polymetallic potential

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Hatches Creek Dump Sampling Results
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 Pioneer Mine Area

• Up to 0.9% WO3 and 1.19g/t Au

– Averaged 0.38% WO3 and 0.39g/t Au

• Black & Green Diamond

• Up to 0.67% WO3 and 0.3% Cu

• Treasure Group

– Up to 1.16% WO3

• Hit or Miss Group

– Up to 0.73% WO3 and 1300ppm Bi

• Copper Show

• Up to 3.47% WO3 and 3.69% Cu

(refer to ASX announcement dated 27 October 2016)

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Hatches Creek Drilling
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 18 hole maiden RC drilling program testing priority targets for 1740m completed.

5 holes for 440m

– Pioneer:

4 holes for 510m

– Treasure:

– Hit or Miss: 6 holes for 600m

– Copper Show: 3 holes for 190m

• Assay results for the drilling are pending.

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Wiluna West Gold Project
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 Introduce project

  JORC-2004 Mineral Resources*Background pic

 Resources

 Mining studies completed

 Regional potential  Blackham opportunity for stranded assets

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Priority development targets
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• Recent review has highlighted several areas as priority targets to be followed up:

• Eagle previous intercepts include: – WWRC020, 14m @ 10.5g/t from 20m

• – WWRC068, 6m @ 10.6g/t from 29m

• Emu previous intercepts include: – JFRC04, 6m @ 3.9 g/t from 88m

• – JF271, 10m @ 2.1g/t from 26m

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Golden Monarch start up mining opportunity
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• 311 RC drill holes for 13,230m completed to date

• 5m by 5m RC drill spacing in proposed start up pit area

• past pit optimisations and mining studies

• Other areas approximately 20m by 10m to 40m by 20m

• Work required:

• Minor infill RC mainly for QA/QC

• DDH for met testwork and geotech

Near term opportunity - reviewing past pit optimisations

• Modify existing mining approvals and clearing permit

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Wiluna West Regional Targets
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 Tenement map with prospects

• SGC, re-interpretation of detailed aerial magnetics

• 60 lithostratigraphic targets 23 of which are rated as high priority

• Orientation soil geochemistry completed

• Soil sampling completed at the Target 6, Eagle, Emu and Comedy King prospects

• Infill soil sampling planned for Bowerbird and Bottom Camp

• Some changes in GWR tenements may have occurred since plan preparation

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Ore Processing Opportunity
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 Opportunity for processing  Discussions underway  Potential benefits to BLK for processing efficiencies  Various options being discussed: – Joint venture – Toll treatment – Ore sales etc

• Some changes in GWR tenements may have occurred since plan preparation

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New Business Opportunities
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Tungsten Mining

– Emerging tungsten developer

– Substantial tungsten Mineral Resources

– Mt Mulgine Strategic Development Plan targeting tungsten concentrate production within 2 years

– GWR providing management and technical services – GWR maintaining 13.3% equity interest

Excelsior Gold

– $2.25m convertible note & subordinated loan by GWR

– Gold miner - Kalgoorlie North Gold Project

– Challenging transition from explorer to producer

– Board & management changes

– Revision of geological model and mine plan – Large exploration acreage in major gold province

RWG Minerals – Nardoo Well anomalous lithium and significant tungsten from recent rock chip samples – Twin Hills (gold) aerial magnetics processed and interpreted, detailed data review being completed – Ted Well (tungsten) – Lake MacLeod (gypsum)

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2017 Outlook and Program
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Hatches Creek

• Release assay results

• Interpret for follow up

• – Systematic drill programs over high priority targets

• Wiluna West Gold

• – Complete discussions with Blackham

– Design drilling and work program to progress to ‘mine ready’

• Implement mining strategy

Tungsten Mining – Continuing with Mt Mulgine Development Plan

• Drilling, testwork, mining studies and pilot plant development

• Other

• – Assessing new opportunities for project or equity investments

• – Managing Excelsior debt financing

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Thank you
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 Include contact details

Annexure 1

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