IMPACT MINERALS LIMITED — AGM Information 2017

Nov 29, 2017

AGM Presentation November 30th 2017

Disclaimer and Competent Persons Statement

What You Should Know

Find out more – This presentation is being used as a presenter's aid with summarised information. See Impact's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or www.impactminerals.com.au, for more information.

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. It does not constitute an offer. Impact Minerals Limited (Impact) 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.

Third party information – Impact does not make any representations as to the accuracy or otherwise of third party information, including where projections are given.

Forward-looking statements – Within this presentation there may be certain forward-looking statements, opinions and estimates. These are based on assumptions and contingencies which are subject to change without notice and are not guarantees of future performance. Impact assumes no obligation to update such information. Forward-looking statements 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. Impact 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.

Taking action – Please undertake your own evaluation of the information in this presentation and contact your professional advisers if you wish to buy or sell Impact shares.

Competent Person Statement and JORC Compliance

Exploration Results: 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. He is a director of the company and works for 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 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mike 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.

Commonwealth Resource Statement: The information in this report which relates to Mineral Resources is based upon information compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Ian Glacken is an employee of Optiro Pty Ltd and 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 Reposting of Exploration Results, Mineral resources and Ore Reserves. Ian Glacken consents to the the inclusion in the release of a summary based upon his information in the form and context in which it appears.

What a load of old nuggets!

What a load of old nuggets! – they occur WITHIN c.2.9 billion year old rocks and have been exhumed by recent weathering

There are nuggets…. And nuggets…so don't be fooled

Multiple centres: not one continuous sheet

Where is the gold from? Wits 40% nuggets 60% not nuggets

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Much of it is derived from within

From Horscroft et al 2011 and Mossman et al 2008

Where is the gold from? Wits 40% nuggets 60% not nuggets

Has a new Witwatersrand been found?

Pilbara Fortescue Group – Witwatersrand Equivalent??

Pilbara Gold Project Strategic Landholding

Nuggets found in POSSIBLY the same position over much of the Pilbara

Pilbara Gold Project Exploration

Licenses:

• 100% owned
• 1,300 sq Km
• c. 100 kilometres strike of highly prospective conglomerates
• Likely to be granted in March 2018
• Can do on-ground work under Mining Act
• Reconnaissance visit: difficult access and hot!
• Orientation samples taken
• Detailed exploration and drilling Q1-2-2018

Beaton's Creek: c.600,000 oz at 2.7 g/t gold (oxide only)

Gold-bearing Conglomerates Identified by Previous Explorers

The conglomerates and adjacent rock types with similar characteristics to those that occur at the Witwatersrand-style conglomerate-hosted gold deposits

• Widespread gold-bearing conglomerates with assays up to 11.2 g/t Au with highly elevated uranium in places;
• The identification of rounded detrital pyrite within the matrix between conglomerate clasts; and
• The occurrence of black carbonaceous shale that occurs in close proximity to the conglomerates

Commonwealth Project New South Wales

The next major discovery in the Lachlan Fold Belt?

Major Copper-Gold Mining Province

Inferred Resource Statement

Category	Tonnes	Au ppm	Ag ppm	Cu%	Pb%	Zn%
Inferred	722,000	2.8	48	0.1	0.6	1.5

• ➢ 722,000 tonnes at 4.5 g/t gold equivalent for 110,000 gold equivalent ounces
• ➢ Including 145,000 tonnes at 10 g/t gold equivalent for 47,000 gold eq oz
• ➢ (4.5 g/t Au, 142 g/t silver, 4.8% zinc, 1.7% lead, 0.2% copper)

• 1,000 oz gold equivalent per vertical metre from surface

• ➢ Potential very profitable starter pit

Discovery beneath Silica Hill – High grade Au-Ag

Extensive disseminated "ruby-silver" minerals and semi-massive and vein sulphide

CMIPT046: Bonanza grades

including 1 metre at 21.3 g/t Au eq (12.2 g/t Au and 680 g/t Ag) including 0.3 metres at 37.8 g/t Au eq (23 g/t Au and 1,110 g/t Ag)

Within large bulk mining widths

41.3 metres at 4.7 g/t Au eq (2.0 g/t Au and 176 g/t Ag) from 61 m

High grade precious and base metal veins

Possible feeder vein

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The Worlds Most Famous High Sulphidation Gold-Rich VMS

The Worlds Most Famous High Sulphidation Gold-Rich VMS

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• 1 km strike length
• Small tonnage high grade
• Possibility of 21B-style at depth!

40m to 75m Thick Zone of Gold-Silver Mineralisation

• ➢ Mineralisation discovered over 200 metres of strike and down to 100 m below surface.
• ➢ Open in all directions.
• ➢ Drilling still in progress with significant assays expected over the next two months

Upper-silver rich zone and Lower gold-rich zone Increasing gold at depth??

A Very Large System

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JORC Compliance - 1

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Resource and Reserve estimates: The information in this presentation relating to Exploration Results and estimates of Mineral Resources have been extracted from the following reports:

ASX Release Date	Title of ASX Release
27 November 2017	Gold-bearing conglomerates identified by previous explorers on Impact's Pilbara gold project
28 September 2017	Pilbara Conglomerate hosted gold project
22 September 2017	Further high grade results at Silica Hill
25 August 2017	Silica Hill continues to grow
15 August 2017	Drill programme extended as high grade silver results add to gold assays at Silica Hill
4 August 2017	Thick widths of visible silver and base metal veins in first two diamond drill holes at Silica Hill
20 July 2017	Best gold results to date at the Silica Hill Prospect, Commonwealth Project NSW
6 June 2017	New drill targets at the Silica Hill East Prospect, Commonwealth Project
2 June 2017	VTEM-IP at Broken Hill
31 May 2017	Two new 5km trends identified as prospective for high grade gold-silver at Commonwealth
25 May 2017	Priority drill targets for massive sulphide at Main Shaft North, Commonwealth NSW
9 May 2017	Priority drill targets for gold-silver at Silica Hill
5 May 2017	Copper-cobalt-gold potential of the Broken Hill Project
22 February 2017	Silica Hill and Commonwealth continue to expand

JORC Compliance - 2

Resource and Reserve estimates: The information in this presentation relating to Exploration Results and estimates of Mineral Resources have been extracted from the following reports:

ASX Release Date	Title of ASX Release
14 October 2016	Impact triples landholding around the Commonwealth Project in the Lachlan Fold Belt NSW
13 September 2016	High grade gold and silver at Silica Hill
2 September 2016	Bonanza silver grades at Silica Hill
8 August 2016	75 metre thick zone of gold-silver-base metal mineralisation discovered at Silica Hill
30 June 2016	High grade extensions to the Commonwealth Deposit and Walls
19 February 2016	22% zinc among further high grade zinc-lead-silver at Red Hill/Dora East Broken Hill
3 February 2016	Very high grade PGM-copper-nickel in massive sulphide at Platinum Springs Broken Hill
8 December 2015	Exceptional zinc-silver grades at Red Hill
2 November 2015	Further significant results at Red hill
26 October 2015	High grade rare PGM's at Broken Hill
23 October 2015	Extremely high grade drill intercept at Broken Hill

JORC Compliance - 3

Resource and Reserve estimates: The information in this presentation relating to estimates of Exploration Results and Mineral Resources have been extracted from the following reports:

ASX Release Date	Title of ASX Release
17 July 2015	New Cornerstone Investor: Minderoo Group to invest up to \$7.3m
19 May 2015	Widespread high grade rare platinum group metals confirmed in large arc east of Broken Hill
17 April 2015	High Grades of Rare but Potentially Economic PGM Elements Assayed at Impact's Broken Hill Project
1 April 2015	New Drill Targets for High Grade Copper-Nickel-Platinum Group Metals at Broken Hill
19 February 2015	Maiden High Grade Resource at Commonwealth, NSW
6 February 2015	Impact Moves to 100% of the Mulga Tank Ni-Cu-PGE Project
23 January 2015	Further High Grade PGE-Copper-Nickel Assays returned at the Red Hill Prospect, Broken Hill
17 December 2014	High Grade Copper-Nickel-PGE Assays at Red Hill Prospect, Broken Hill
22 October 2014	Assays Confirm 1 Km2 High Grade Gold-Silver Project at Commonwealth, NSW
22 September 2014	Bonanza Gold Grades at Commonwealth South
1 July 2014	Major Porphyry Copper-Gold and High-Grade Epithermal Gold-Silver-Base Metal Potential Revealed at the Commonwealth Project, NSW