Havilah Resources Limited plans to sequentially develop its portfolio of gold, copper, iron, cobalt, tin and other mineral resources in South Australia. Our vision is to become a new mining force, delivering value to our shareholders, partners and the community.

205 million Ordinary Shares ‐‐ 7 million Listed Optiond ‐‐ 8 million Unlisted Options

ASX and Media Release: 12 December 2017 ASX Code: HAV

2017 CEO REVIEW

Havilah Resources Limited (Havilah or Company) is pleased to distribute a presentation, entitled "2017 CEO Review", which is being presented at the 2017 Annual General Metting today by the Chief Executive Officer, Mr Walter Richards.

This presentation reviews the performance of the Company in 2017 and reviews the strategy and objectives for 2018. The presentation will also be available on the Company's website at www.havilah‐resources.com.au.

For further information visit www.havilah‐resources.com.au Contact: Mr Walter Richards, Chief Executive Officer, on (08) 8155‐4500 or email: info@havilah‐resources.com.au

2017 AGM Presentation

Mr Walter Richards, Chief Executive Officer

Cautionary Statement

The information contained in this presentation is not financial product advice. The presentation is for information purposes and is of a general and summary nature only. Neither Havilah Resources Limited (Havilah) nor any member of the Havilah Group of companies, gives no warranties in relation to the statements and information in this presentation. Investors should seek appropriate advice on their own objectives, financial situation and needs.

This presentation contains certain statements which may constitute "forward-looking statements". Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements.

Havilah disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

Investors are cautioned that forward-looking statements are not guarantees of future performance and investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

What does this mean?

Corporate Overview

Current Share Price1	\$0.185
Shares on Issue1	205M
Market Capitalisation1	\$38M
Current Listed Option Price1	\$0.05
Listed Options1	7M
Unlisted Options1	8M
Cash2	\$1.6M
Debt2	\$0M

Capital Structure Share Price and Volume

¹ As of 8 Dec 2017 ² As of 31 Oct 2017

Corporate Overview

Board and Management Top Shareholders

Ken Williams	Non Executive Chairman
Paul Mertin	Non Executive Director (Retiring)
Mark Stewart	Non Executive Director (Recently appointed)
Chris Giles	Technical Director
Claire Redman	Company Secretary
Walter Richards	Chief Executive Officer

Trindal Pty Ltd	21.5%
First Names (Jersey) Limited	8.9%
Glencopper SA Pty Ltd	5.3%
Bergen Global Opportunity Fund II, LLC	3.4%
Paul Clark	3.3%
Statsmin Nominees Pty Ltd	2.4%
Rockland Pty Ltd	2.1%
Brian Murphy	1.7%
J P Morgan Nominees Australia Limited	1.5%
Krystyna Kasperowicz	1.1%
Top 20 Holding	58.8%

2017 in Review

2017 was a year with mixed results, but 2018 is set on a clear path forward with the Copper Growth Strategy

Cash Flow from Portia	Expand Portia Resource	Seek Partners	New Discoveries
Continued steady cash flow from Portia gold mine that can fund exploration	Expand Portia gold resource base so that it has at least several more years mine life	Seek partners to develop other longer term capital intensive projects	Make new discoveries that are material to Havilah using Portia cash flow

Partially Achieved	Partially Achieved	Partially Achieved	Achieved
Portia is cash flow positive, but it was unpredictable due to grade variations	Portia resource expanded and revised revenue share agreement extends life	Kalkaroo PFS funded by Wanbao, Mutooroo PFS not funded, North Portia PFS funded	Croziers shallow resource potential confirmed and Jupiter MT anomaly identified

Portia in Perspective

Use of Cash Generated from Gold Sales

Operational Learnings

1. Understanding geotechnical issues
1. Insight into plant and treatment approach
1. Balancing water usage
1. Knowledge of permitting and compliance
1. Developing a partnership relationship
1. Adding critical resources to the team
1. Building credibility by repaying debt
1. Managing cash flow

Cash Flow Expectations

Projected Monthly Cash Flow

Category	\$
Salaries & Wages (All)	350,000
Exploration Tenements	100,000
Corporate & General Support	90,000

Total	540,000

Portia Revenue Stream	260,000

Minimum Monthly Cash Requirement	280,000

Corporate & General Support – Including Salaries	190,000

Includes salaries & wages to operate own drillrig – A key element of the strategy to explore more
Includes salaries & wages for permitting of projects – A key element of the strategy to advance projects
Maintain >14,000 km² tenement portfolio
Office & support infrastructure is designed for growth
Portia funds ~50% of the minimum monthly cash requirements or >100% of overheads
Placement of remaining rights issue shortfall provides funding through December 2018

Price is what you pay, value is what you get

SWOT Analysis

Not adequately exploring all tenements.
Changes in mining regulations having a negative impact on exploration tenements.
Delays in securing permits & native title.
Delays in securing financing for projects.
Not securing financing for projects.

What we are

A multi-commodity resource company in South Australia

What we are

^A multi-commodity resource company in South Australia

Why we do things

To create long-term shareholder value

through discoveries and development of our multi-commodity portfolio

What we are

^A multi-commodity resource company in South Australia

Why we do things

To create long-term shareholder value

through discoveries and development of our multi-commodity portfolio

What we want to be

To be recognised, respected, and valued for our multi-commodity portfolio and our performance

What we are

^A multi-commodity resource company in South Australia Why we do things To create long-term shareholder value

through discoveries and development of our multi-commodity portfolio

What we want to be

To be recognised, respected, and valued

for our multi-commodity portfolio and our performance

What we do

build and transform our multi-commodity resource portfolio into shared value for all our stakeholders

What we are

^A multi-commodity resource company in South Australia

Why we do things

To create long-term shareholder value

through discoveries and development of our multi-commodity portfolio

What we want to be

To be recognised, respected, and valued

for our multi-commodity portfolio and our performance

What we do

build and transform our multi-commodity resource portfolio

into shared value for all our stakeholders

What is the plan

To grow and realise the value of our multi-commodity portfolio,

through discoveries and transactions,

to generate a cash flow stream by focusing on the commodity of the moment

What we are

To create long-term shareholder value

through discoveries and development of our multi-commodity portfolio

What we want to be

To be recognised, respected, and valued

for our multi-commodity portfolio and our performance

What we do

build and transform our multi-commodity resource portfolio

into shared value for all our stakeholders

What is the plan

To grow and realise the value of our multi-commodity portfolio,

through discoveries and transactions,

to generate a cash flow stream by focusing on the commodity of the moment

The Long Term Strategy

Building Blocks of the Long Term Strategy

We are focused on executing the long term strategy within a framework to sustain future growth.

Environmental Stewardship Social Responsibility Secure Funding

Responsible use and protection of the natural environment through sustainable practices. We have an obligation to act for the benefit of all our stakeholders.

Commodity Focus Flexibility

A portfolio of commodities in the Curnamona Craton. This includes: gold, copper, cobalt, tin,

Change is constant. Short term strategies will be altered due to changes in the market. Work to maintain all options to allow for a

Project Optionality

iron ore, uranium, molybdenum.

quick change in direction.

Obtain funding to advance projects and execute exploration programs through a combination of equity, JV's, sale of projects, or debt when it makes sense.

Project Advancement Exploration Value Adding

Includes obtaining regulatory approvals, developing mine plans, and addressing metallurgy. Discoveries are critical for a sustainable future.

Core values are what support our vision, shape our culture and reflect what we value. They are the essence of Havilah's identity – it is our principles and beliefs. They guide our decision-making processes.

Copper and Cobalt Commodity Prices

A looming copper supply crunch is driving the copper price up…

Cobalt demand in 2020 expected to increase by 30% compared to 2016…

Havilah Resources ¹⁸ 12/12/2017

Value Proposition of Copper Growth Strategy

A visual representation of the value that can potentially be added by Havilah's Copper Growth Strategy. In each case, the size of the box represents the percentage value that is added by each element of the Copper Growth Strategy.

The Copper Growth Strategy

A summary of the key value adding stages as Havilah's Copper Growth Strategy is progressively executed.

What to expect in 2018

The Copper Growth Strategy will gain momentum

Advance Kalkaroo	Advance Mutooroo	Advance North Portia	Secure JV on Jupiter Anomaly
• Publish PFS results • Publish probable reserve • Negotiate a deal	• Obtain funding for permitting & PFS • Advance permitting & PFS • Expand resource	• Publish measured & indicated resource • Complete permitting (Phase 1) & PFS • Commence overburden removal	• Execute confidentiality agreements with majors • Secure JV to investigate anomaly
Strategic Exploration	Cash Flow from Portia	Focused Execution	Regular Updates
• Generate copper & cobalt targets on existing tenements • Secure a JV partner	• Steady cash flow from gold revenue stream • Expand mine life • Develop plan to process tails	• Execute the plan to achieve project milestones. • Manage schedule, scope, cost	• Quarterly reporting against project milestones

When to expect what in 2018

The Copper Growth Strategy will gain momentum

1 st Quarter 2

Kalkaroo: Publish PFS results
Kalkaroo: Publish probable reserve
Mutooroo: PFS & permitting funding negotiated
North Portia: Publish upgraded JORC resource
Portia: Publish results of tails assays
Corporate: Place remaining rights issue shortfall
Corporate: Celebrate 20 years!

nd Quarter 3

Kalkaroo: Obtain native title
Kalkaroo: Obtain mining lease
Kalkaroo: Commence development negotiations
Mutooroo: Commence PFS & permitting work
North Portia: Complete metallurgical testwork
North Portia: Complete PFS & permitting (Phase 1)
Portia: Approval to process tails

• Mutooroo: Commence native title negotiations

North Portia: Development agreement negotiated
North Portia: Commence overburden removal
North Portia: Permitting (Phase 2) continues
Maldorky: Submit public response document
Exploration: Publish list of copper & cobalt targets

rd Quarter 4 th Quarter

Mutooroo: PFS 50% complete
Mutooroo: Compile draft mining lease proposal for submission
Portia: Commence processing of tails
Exploration: Secure exploration JV partner
Exploration: Update progress on Jupiter anomaly

What Makes Havilah

The Plan

To grow and realise the value of our multicommodity portfolio, through discoveries and transactions, to generate a cash flow stream by focusing on the commodity of the moment.