IONIC RARE EARTHS LIMITED — Investor Presentation 2016

Oct 10, 2016

ORO VERDE LIMITED (ASX: OVL)

Nicaragua – A golden past and future

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Precious Metals Investment Symposium Sydney - October 2016 Trevor Woolfe (Managing Director)

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Disclaimer

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• Forward Looking Statements - This report contains forecasts, projections and forward looking information. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of Oro Verde’s control. Actual results and developments will almost certainly differ materially from those expressed or implied. Oro Verde has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. To the maximum extent permitted by applicable laws, Oro Verde makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for (1) the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this report and (2) without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward looking information contained or referred to in this report.

• Disclaimer - This presentation has been prepared by Oro Verde Limited (“OVL” or the “Company”). It should not be considered as an offer or invitation to subscribe for, or purchase any, securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation. Throughout this presentation all figures are quoted in A$ dollars unless otherwise stated. You should not act in reliance on this presentation material. This overview of the Company does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of Oro Verde’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

• The information in this document that relates to Foreign Mineral Resource Estimates is extracted from the report entitled “High Grade Gold Project Acquired” created on 11 November 2014 and available to view on www.asx.com. The Company confirms that it is not in possession of any new information or data relating to the foreign estimates that materially impacts on the reliability of the estimates or the Company’s ability to verify them as mineral resources in accordance with the JORC Code. The information included in the original market announcement continues to apply and has not materially changed. This is a foreign estimate and is not reported in accordance with the JORC Code. A Competent Person has not done sufficient work to classify the estimate as mineral resource in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the estimates will be able to be reported as mineral resources in accordance with the JORC Code.

• The information in this document that relates to Exploration Results is extracted from the following reports: “Expanded Gold Resource Potential” created on 9 November 2015 and “New Gold Targets Identified at Topacio” created on 2 May 2016; all completed under Mr Trevor Woolfe as Competent Person and available to view on www.asx.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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Gold projects in Nicaragua

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1. Topacio Gold Project

• Historical 340,000 oz high grade gold resource[1 ]

• US$7.9 million farm-in agreement with NEWCREST signed in November 2015

• Stage 1 exploration program nearing completion in November 2016

2. San Isidro Gold Project

• Early stage gold project

• Adjacent to 2.3 Moz La India Au project

3. New Projects

• Quality gold-silver-copper projects are currently being sought in the region

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Corporate Snapshot

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Oro Verde Ltd - Capital Structure (as at 4 October 2016)	Oro Verde Ltd - Capital Structure (as at 4 October 2016)
ASX Code:	OVL
Issued Shares:	672 million
Options:	73M @ $0.01(Sep ‘17) 73M @ $0.05(Sep ‘19)
Market Cap (undiluted):	$15.5 million(at 2.3c)

Oro Verde Ltd - Capital Structure (as at 4 October 2016)

Major Shareholders

	Wolf Martinick (Director)	7.2%
	Brad Farrell (Director)	7.0%
	Merrill Lynch Aust Nominees Berenes Nominees PL	6.4% 4.8%
	Tony Rovira (Director)	4.3%
	Top 20	49.4%

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 Directors

• Wolf Martinick – Non Exec Chairman

• Trevor Woolfe – Managing Director

• Brett Dickson – Finance Director

• Brad Farrell - Non Exec Director  Tony Rovira - Non Exec Director

 High Quality In Country Team – including:

David Turner : Country Manager - geologist with >20 years Central American experience

Jacques Levy : Legal Representative- local businessman

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Nicaragua Snapshot

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Location: Between Honduras & Costa Rica Area: 130,000km[2] (50% > Tasmania) Capital: Managua

Capital:

Access: Direct flights from 4 US ports Languages: Spanish, English & Indigenous Stable currency: 5% pa devaluation vs USD Safety: One of safest countries in LatAm Single title type: Mining concession

• Valid for 25 years with 25 year extension

Mining royalty: 3%

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Data provided by ProNicaragua

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Why explore in Central America?

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• Central America has an excellent gold, silver and copper production record

• Overall Central American mineral production: Gold 34 million ounces Silver 276 million ounces Copper 15 million tonnes

• Nicaragua has a strong gold mining history – 14Moz produced to date

• Four multi-million oz gold mining districts identified to date in Nicaragua

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Major Gold Centres of Nicaragua

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- hosts multi-million ounce deposits

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Golden Triangle: 8 Moz
Bonanza Gold Mine
Mineros/HEMCO
70,000 oz pa
US$800/ oz (estimate)
La India: 2.9 Moz
Condor Gold plc
2.3 Moz resource
Positive PFS (Dec ‘14) San Isidro
La Libertad: 1.8 Moz
B2Gold
120,000 oz pa
El Limon: 3.5 Moz US$665/ oz (2016f)
B2Gold
52,000 oz pa
US$630/ oz (2016f)
Topacio TOPACIO GOLD PROJECT
Oro Verde & Newcrest
(earning)
340,000 oz Au resource
Targeting >2 Moz Au
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Data from Company Reports

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Topacio Gold Project

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- OVL option to acquire 100%

• 2.7 million tonnes at 3.9g/t Au (340,000 oz Au) - Inferred Mineral Resource (NI 43-101)[1 ]

• This is a foreign estimate and is not reported in accordance with the JORC Code. A Competent Person has not done sufficient work to classify the estimate as mineral resource in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the estimates will be able to be reported as mineral resources in accordance with the JORC Code

• Option to Purchase Agreement commenced in February 2015

• 20 months into the 3 year Option Agreement

• Very attractive option conditions for a 340,000oz resource with excellent upside:

• US$2m spend over 3 years

• 6 x US$40,000 payments each 6 months to Vendor

• US$1.5m to acquire 100%

• Plus either i) 2% royalty, or

ii) US$1/oz Au (in measured and indicated resources)

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Topacio Gold Project

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- Good Access

• Located in the southeast of Nicaragua, just 200km from Managua

• Adjacent to the regional sealed highway

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TOPACIO
200km
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Topacio Gold Project

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- Under-explored

• A 93 km[2] concession in cattle farming country

• Sealed highway runs just north of the concession

• 35km of mapped veins but only 4km included in current resource Resource area Explored area Under-explored area

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Topacio Gold Project

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- New targets defined in 2015

• Successful surface sampling by OVL in 2015 outlined numerous high grade mineralised target areas outside the resource area

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Best OVL surface sampling results 2015

Chicago 23.8 g/t Au and 41 g/t Ag Dispute 92.9 g/t Au and 220 g/t Ag Dos Amigos 38.5 g/t Au and 39 g/t Ag West Mico 23.9 g/t Au and 26 g/t Ag Celedonio 12.5 g/t Au and 65 g/t Ag Topacio 12.3 g/t Au and 101 g/t Ag Topacio NE 52.4 g/t Au and 158 g/t Ag Su Majestad 14.1 g/t Au and 58 g/t Ag Buena Vista 3.35 g/t Au and 50 g/t Ag Rebeca 2.54 g/t Au and 14 g/t Ag Gallina 6.49 g/t Au and 1 g/t Ag*

• = New Targets

• Buena Vista stockwork target 6km from Topacio

Refer to ASX announcements

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Topacio Gold Project

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- Newcrest (NCM) farm-in agreement*

• NCM signed farm-in agreement with OVL in November 2015

• To discover multi-million ounce gold deposits

• Stage 1 - minimum commitment of US$0.5m in Year 1 (to Nov ‘16)

• NCM may sole fund US$4.4 million to earn 51%

• includes the cost of exercising Oro Verde’s Option

• NCM may sole fund another US$3.5 million to reach 75%

• US$3.5 million expenditure over the following three years

• for a total commitment of US$7.9 million over ~5 years

• Oro Verde is managing the exploration during the farm-in period

*Refer ASX release dated 30 November 2015

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Topacio Gold Project

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- Stage 1 nearing completion

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Objective To Outline >2 Moz Gold Resource

• Aim to investigate potential of entire concession

• Generate and prioritise drill targets (by November 2016)

• Stage 1 nearing completion

• :

• Geology detailed vein mapping and sampling

• Geochemistry : concession-wide grid soil sampling (multi-element)

• Geophysics : airborne magnetics and radiometrics

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New Exploration Targets (May ‘16)[ 2]

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New Geophysical Targets (magnetics)

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Rebeca Zone
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New Gold-in-soils Targets

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Rebeca Zone Latest rock chips (Oct 16) Canada 42.8 g/t Au; >200 g/t Ag Dispute 21.4 g/t Au; 15.1 g/t Ag Lone Star 50.5 g/t Au; 70.1 g/t Ag Mico 21.4 g/t Au; 39.1 g/t Ag Pispireta 32.2 g/t Au; 18.2 g/t Ag Su Majestad 16.9 g/t Au; 145.9 g/t Ag Topacio 12.5 g/t Au; 15.0 g/t Ag Toronto 38.7 g/t Au; 52.3 g/t Ag

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Topacio Gold Project

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Latest news:

1. Infill soil sampling underway at Rebeca Zone

2. New very high grade rock chip results highlight potential of numerous targets outside Topacio resource area

3. Lone Star vein

50.5 g/t Au

• Canada vein

42.8 g/t Au

• Toronto vein

• Pispireta vein

38.7 g/t Au 32.2 g/t Au

• Objective is to refine targets for drill testing in next phase

• Next phase of Newcrest agreement requires US$2.2 million spend by August 2017

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Summary

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Oro Verde Highlights:

1. Topacio project is an advanced gold resource with significant upside potential

2. We have attracted a world class partner in Newcrest

3. OVL maintains management of the exploration program

4. Nicaragua is a stable and safe jurisdiction to explore and mine

5. Board and management has extensive experience in Latin America

6. In search of advanced projects within the region to enhance the portfolio

Expected newsflow:

1. Results of infill soil sampling at Rebeca Zone 2. Confirmation of drill targets

2. Newcrest decision to accompany OVL into drilling phase

3. Drilling to commence late 2016 or early 2017

THANK YOU

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