IMPACT MINERALS LIMITED — AGM Information 2014

Nov 30, 2014

ASX ANNOUNCEMENT Date: 1 December ²⁰¹⁴

Number: 381/011214

REVISED PRESENTATION TO 2014 ANNUAL GENERAL MEETING

Attached is a revised version of the presentation to the 2014 Annual General Meeting, previously lodged on 27 November 2014.

Yours faithfully

James Cooper-Jones Company Secretary

AGM Presentation

Managing Director: Dr Mike Jones November 2014

Introducing Impact Minerals (ASX:IPT)

Listed on ASX	November 2006	12 month Share Price
Shares on Issue	566m
Options	8 m listed IPTO 34m unlisted
Share Price	2.5¢
Market Cap:	\$14m
	Commonwealth Au-Ag-Zn-Pb-Cu (NSW) Broken Hill Joint Venture:	Shareholders Bunnenberg Family 30%

Directors 9%

Top 20 56%

Top 50 65%

	Broken Hill Joint Venture:
Key Projects	Ni-Cu-PGM (NSW)
	Mulga Tank Joint Venture:
	Ni-Cu-PGM (WA)
	Botswana Uranium Project

Mulga Tank Nickel-Copper-PGE Project Western Australia Impact 20% to 100% and earning 50% to 70%

Mulga Tank Project: Location

• Emerging WA nickel province
• Near to world class nickel mines:
• –Perseverance >1 Mt Ni metal
• –Mt Keith >2 Mt Ni metal
• –Kambalda camp >1 Mt metal
• Recent discoveries at
• –Nova-Bollinger deposit (0.5 Mt Ni Eq.)
• –Camelwood (Ni)
• –Collurabie (Ni-Cu-PGE)

Mulga Tank: A new nickel field?

• Very poorly explored greenstone belt
• Extensive sand cover has hindered exploration
• IPT's licences cover 425 sq km
• Significant untapped gold potential
• 5 • Work by Impact only focused on 15 sq km area over the Mulga Tank Dunite

Mulga Tank Dunite: IPT 2013 Drill Programme

• Six targets tested
• Three returned significant nickelcopper mineralisation
• Three styles of nickel mineralisation identified
• Mineralisation extends over many sq km

A sense of scale and perspective!

Mulga Tank Dunite and the Kambalda Nickel Field (>2 million tonnes of contained nickel) at the same scale

Broken Hill Nickel-Copper-PGM Joint Venture Project New South Wales

Impact 51% and earning 80% by spending \$200,000 to earn 80%

Broken Hill Ni-Cu-PGE JV Project

9

• Located in the richly mineralised NSW Curnamona Province
• Mineralised mafic and ultramafic dykes and sills with high grade gossans over a 35 km belt
• Highest platinum grades in Australia
• 2 priority targets including:
• Red Hill: Eagle analogy: 5Mt @ 3.7%Ni and 3% Cu Possible early discovery l
• Platinum Springs: drill intercept of 2 m at 10.9 g/t Pt, 23.6 g/t Pd, 6.12% Ni, 4.45% Cu
• Impact now 51% and earning 80% by spending a further \$200,000
• \$125,000 grant from NSW Govt.

Red Hill Mine Prospect

• Red Hill Mine active from 1906 to 1937
• About 500 t was mined
• Old mine records indicate face sample results of:
• 2 to 4% copper
• 2 to 3% nickel
• 5 to 41 g/t platinum
• 22 to 70 g/t silver
• No drilling
• Anomalous soil and rock chip samples: four priority targets
• Partly coincident with IP anomaly

Nickel and copper sulphide and oxide

Eagle: 5Mt at 3.7%Ni and 3%Cu

Red Hill: an Eagle Analogue?

Major Copper-Gold Mining Province

Commonwealth Project: Previous Work

• Gold-rich Massive Sulphide Deposit
• Mined 1906-1930's

6500 t at 6 g/t Au, 150 g/t Ag, 2% Cu, 15% Zn & 7% Pb

• Poorly explored: 66 drill holes for an average depth of 53 metres.
• Previous exploration focus along 250 m strike at Commonwealth
• Acquisition in March 2013
• EL5874: 3-4 km strike potential

Impact Work Programme 2013-2014

• IP Survey • Soil geochemistry • 21 drill holes for 3,600 m

Commonwealth: Potential at Depth

• Successful maiden drill programme completed in September 2014
• High grade gold-silver results open along strike and at depth at:
• Main Shaft
• 6 m at 7 g/t gold, 383 g/t silver, 8.5% zinc, 3.2% lead and 0.3% copper
• Commonwealth South
• 4 m at 41.8 g/t (1.3 ounces per tonne) gold, 93 g/t silver, 5.5% zinc, 2.3% lead
• 18 • High value ore/tonne

3D View of mineralisation

• Wireframe of the host rhyolite and mineralisation
• Massive sulphide on the hanging wall with disseminated and vein mineralisation in the footwall
• Resource calculation in progress

Commonwealth: Deposit Model

• Volcanogenic Massive Sulphide Model

Ground IP Survey: Main Shaft and Silica Hill

What's hiding near Silica Hill?

Commonwealth: Potential along strike

• Recent soil geochemistry results reveal potential for major mineralised system covering many sq. km.
• Recognition of metalassemblages indicating
• Porphyry & Skarn Cu-Au
• High sulphidation Au-Agbase metal
• Major breakthrough for Impact

Analogy: Woodlawn deposit (TriAusMin) Goulburn, NSW

Silurian VMS Deposit

17.7 Mt at 1.4 g/t gold, 80 g/t silver, 1.7% copper, 9.9% zinc, 3.8% lead for 7.1 million oz gold eq.

• 3.5 Moz gold equivalent underground resource and reserve
• Multiple lenses down to at least 630 m depth

Wafi-Golpu Analogy (75 Moz Au eq)

Commonwealth: Regional Potential

• Secured a further 315 sq km
• 8 km strike potential rocks that host Commonwealth
• 10 km strike potential of structures that host Galwadgere deposit :

(2 Mt at 1.0% Cu and 0.3 g/t Au)

• Additional historic copper-gold workings
• Close to recent blind porphyry discovery at Kaiser-MacGregor by Alkane Resources Ltd 41 m at 1.2% Cu and 1.1 g/t Au from 18 m 32 m at 0.4% Cu and 0.1 g/t Au from 109 m

Commonwealth: Next Steps

• Inferred Resource Statement: November
• Infill and Extend IP surveys over Commonwealth and Silica Hill: In progress
• IP Survey over the Doughnut: November
• Focus on Silica Hill: soil geochemistry and ground geophysics
• Follow up drill programme: Q1-Q2 2014

Disclaimer

• The review of exploration activities and results contained in this report is based on information compiled by Dr Mike Jones, a Member of the Australian Institute of Geoscientists. Dr Jones is a working Director of Impact Minerals Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Jones has consented to the inclusion in the report of the matters based on his information in the form and context in which it appears.
• This presentation does not purport to provide all of the information an interested party may require in order to investigate the affairs of Impact. The information provided herein has not been audited nor independently verified, nor has Impact been able to undertake a full due diligence on the material. The information herein is provided to recipients on the clear understanding that neither Impact nor any of its agents or advisers takes any responsibility for the information, data or advice contained or for any omission or for any other information, statement or representation provided to any recipient. Recipients of this presentation must conduct their own investigation and analysis regarding any information, statement or representation contained or provided to any recipient or its associates by Impact or any of its agents or advisers. Each recipient waives any right of action, which it has now or in the future against Impact or any of its officers, advisers or agents in respect of any errors or omissions in or from this presentation, however caused. The presentation is intended for close personal associates of Impact under the relevant provisions of Section 708.
• The results shown in this presentation have been previously reported in announcements dated 29 January 2014, 4 June 2014, 1 July 2014, 22 September 2014, 22 October 2014 and 27 November 2014.