IONIC RARE EARTHS LIMITED — Investor Presentation 2017

Oct 10, 2017

11 October 2017

ASX Announcement

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ORO VERDE INVESTOR PRESENTATION

Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is pleased to provide the Company’s latest Investor Presentation, following yesterday’s announcement of a capital raising via a Share Purchase Plan.

For enquiries contact:

Mr Trevor Woolfe Managing Director +61 411 127 837 +61 8 9481 2555

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About Oro Verde Limited: Oro Verde Ltd is a mineral exploration company focused on identifying and developing significant gold projects in Central America, particularly Nicaragua. Oro Verde holds an Option to Purchase Agreement to acquire 100% of the Topacio Gold Project in Nicaragua that contains a NI43-101 compliant Inferred Mineral Resource of 340,000 ounces of gold. Oro Verde also holds 100% of the early stage San Isidro Gold Project, also in Nicaragua, located adjacent to the 2.3 million ounce La India gold project.

Oro Verde Limited (ASX code: OVL) Level 1, 34 Colin St, West Perth, WA 6005 Phone: +61 8 9481 2555 Fax: +61 8 9485 1290 Email: info@oroverde.com.au

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ORO VERDE LTD

Nicaragua – A golden past and future

ASX: OVL

INVESTOR UPDATE OCTOBER 2017 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 ASX reports as referred to on each relevant page of the presentation; 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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CORPORATE SNAPSHOT

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DIRECTORS

Oro Verde Ltd - Capital Structure

(as at 10 October 2017)

ASX Code:	OVL
Issued Shares:	700 million
Options:	73M @ $0.05(Sep ‘19)
Market Cap (undiluted):	$6 million (at 0.8c)

• Wolf Martinick – Chairman (Non Exec )

• o Trevor Woolfe – Managing Director o Brett Dickson – Finance Director o Brad Farrell – Director (Non Exec ) o Tony Rovira – Director (Non Exec )

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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SPP announced
OVL 12 month
price graph
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Major Shareholders

Wolf Martinick (Director)	7.4%
Brad Farrell (Director)	6.7%
Tony Rovira (Director)	4.2%
Merrill Lynch Aust Nominees	4.0%
Trevor Woolfe (Director)	4.0%
Top 20	42.8%
Directors	24.2%

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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 ]

• 9,300 Ha, under explored concession

• Trench & drill program currently underway

2. San Isidro Gold Project

• Early stage gold project

• Follow up soil sampling recently completed

• Adjacent to 2.3 Moz La India Au project

3. New Projects

• Quality gold-silver-copper projects are currently under review in the region

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NICARAGUA SNAPSHOT

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LOCATION: Central America - between Honduras & Costa Rica CAPITAL: Managua ACCESS: Direct flights from 4 US ports LANGUAGES: Spanish, English & Indigenous STABLE CURRENCY: 5% pa devaluation vs USD MINING ROYALTY: 3% SINGLE TITLE TYPE: Mining concession - Valid for 25 years with 25 year extension GOVERNMENT: Democratically elected, latest election Nov 2016 SAFETY: One of safest countries in Latin America

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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

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

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

• Remains significantly under-explored

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MAJOR GOLD CENTRES OF NICARAGUA

- hosts multi-million ounce deposits

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Golden Triangle: 8 Moz
Bonanza Gold Mine
Mineros/HEMCO
85,000 oz Au eq 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
132,000 oz pa
El Limon: 3.5 Moz US$659/ oz (2016f
B2Gold
45,000 oz pa
US$781/ oz (2016)
TOPACIO GOLD PROJECT
Topacio
Oro Verde
(Option to acquire 100%)
340,000 oz Au resource
Targeting >1 Moz Au
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Data from Company Reports

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TOPACIO GOLD PROJECT

- OVL holds option to acquire 100%

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• 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

• 2 years + 7 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

[exceeded]

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

  • [completed]

• 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

- Exploration activities to date

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• Rock chip sampling and reconnaissance of artisanal and historical workings

• =>> Generation of new high grade gold targets around the Topacio Resource Area

• Detailed geological and vein texture mapping

• Soil sampling and multi-element geochemistry across entire concession, with local infill

In

collaboration

with Newcrest

• Airborne geophysics (magnetics and radiometrics across the concession

• Diamond drilling of priority targets at Rebeca Vein

• Trenching and drilling of high grade targets to expand resource at Topacio

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TOPACIO GOLD PROJECT

- 93km[2] concession with various epithermal targets

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Topacio resource
340,000oz Au
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EXTENSIVE GEOCHEMISTRY TARGETS

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Soil Geochemistry – Gold + Arsenic + Antimony + Tungsten Characteristic of the upper levels of a buried low sulphidation epithermal gold system Refer to ASX announcement dated 7 December 2016 “Drilling of Rebeca Zone Planned – Gold Potential Enhanced by Infill Soils Results” Topacio Resource Area Rebeca-Sahino Zone - Infill soil grid

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TOPACIO – RESOURCE EXTENSIONS

- New targets defined by OVL

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• 35km of mapped veins but only 4km included in current resource

• Rock chip sampling (2015) outlined numerous high grade gold mineralised targets

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 announcement dated 9 November 2015 “Expanded Gold Resource Potential at Topacio”

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Phase 1
Rebeca Drilling
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TOPACIO – DRILLING PROGRAMS

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PHASE 1 DRILL PROGRAM (Mar ‘17)

PHASE 2 DRILL PROGRAM (Jun ‘17)

• Rebeca Vein

• 7 Diamond drill holes

• Extensions to Topacio resource

• Surface trenches exposed veins

• Funded by Newcrest

• 6 Diamond drill holes

• Total = 1,767m

• Total = 402m

Refer to ASX release dated 14 August 2017 “Drilling Hits Bonanza Gold Zone at Mico West”

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Phase 2
Topacio Drilling
Phase 1
Rebeca Drilling
Topacio Resource
Area
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TOPACIO – DRILLING RESULTS

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 Bonanza gold grades received from trenches and drill holes at Topacio

LOCATION	TRENCH or DRILL HOLE NAME	SAMPLE TYPE	INTERVAL LENGTH	GOLD GRADES	DOWNHOLE DEPTH
Mico West	OPMW1701	Trench	7.50 m	5.39g/t Au	At surface
		including	2.05 m	17.06g/t Au	At surface
	TMW1702	Trench	6.20 m	5.16g/t Au	At surface
		including	2.70 m	10.44g/t Au	At surface
	MTD-17-012	Drill hole	2.85 m	15.59g/t Au	From 21.25m
		including	1.23 m	32.30g/t Au	From 22.87m
Rebeca	MTD-17-005	Drill hole	3.40 m	3.07g/t Au	From 5.45m
		including	1.50 m	5.16g/t Au	From 5.45m
Dispute	RCD1701	Trench	1.10 m	53.10g/t Au	At surface
	MTD-17-010	Drill hole	9.25 m	2.21g/t Au	From 32.30m
		including	1.52 m	7.43g/t Au	From 36.60m
Dos Amigos	MTD-17-011	Drill hole	1.00 m	1.87g/t Au	From 42.50m
Su Majestad	MTD-17-008	Drill hole	3.00 m	1.84g/t Au	From 53.15m
Topacio East	MTD-17-009	Drill hole	1.55 m	1.28g/t Au	From 32.10m
• All results previously reported to ASX on 21 June, 20 July, 1 August and 14 August 2017.

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TOPACIO – NEW EXPLORATION PROGRAM

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FOCUS ON EXPANSION OF GOLD RESOURCE

Program between October 2017 and January 2018 to include:

• Initial surface trenching, mapping and sampling

• Diamond drilling of best gold targets

• High grade gold targets include Mico West, Dispute, Mico East and Dos Amigos

Refer to ASX release dated 28 September 2017 “Trenching of High Grade Gold Veins has Commenced”

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Resource
Expansion Area
Topacio Resource
Area
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EXCELLENT ACCESS & GROUND POSITION

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New GALEANO
New IGUANAS
Application (100% OVL)
Application (100% OVL)
New TIGRE
Application (100% OVL)
National sealed
highway and local OVL
exploration office
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• Topacio 93km[2] in cattle farmlands

• Expand land position by up to 240%

• Sealed highway runs just to the north

• Potential increase from 93km[2] to 316km

• New tenement applications

• Control the Topacio district

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ORO VERDE LIMITED (ASX: OVL)

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– An investment in gold discovery

• Topacio – a 340,000oz gold resource with significant upside

• A large, under-explored epithermal gold system

• Objective – multi-million ounce gold deposits

• Trenching of high grade veins has commenced

• Drilling to re-commence November

• Nicaragua is a stable and safe jurisdiction to operate

Expected news flow:

1. Topacio trenching results

2. Commencement of drill campaign

3. Topacio Resource Area drill results – to follow

4. Addition of new project/s

5. Reviewing advanced projects in the region to enhance the portfolio

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ORO VERDE LIMITED (ASX: OVL)

Follow OVL at:

Website :

Email :

Twitter :

www.oroverde.com.au info@oroverde.com.au @MDOroVerde

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