Kincora Copper Limited — AGM Information 2021

Dec 14, 2021

KINCORA COPPER Annual General and Special Meeting Hybrid meeting with webcast

ASX & TSXV: KCC

Tuesday, 14 December 2021

Cautionary Statement

Certain disclosure may constitute "forward-looking statements”. In making the forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks are described from time to time in the Company's filings with the appropriate securities commissions, and may include, among others, market conditions, delays in obtaining or failure to obtain required regulatory approvals or financing, fluctuating metal prices, the possibility of project cost overruns, mechanical failure, unavailability of parts and supplies, labour disturbances, interruption in transportation or utilities, adverse weather conditions, and unanticipated costs and expenses, variations in the cost of energy or materials or supplies or environmental impacts on operations. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Qualified Person: The scientific and technical information in this presentation was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy – and Petroleum and National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and was reviewed, verified and compiled by Kincora’s staff under the supervision of Paul Cromie (BSc Hons, M Economic Geology, PhD Geology, AusIMM), Exploration Manager – Australia, who is a Qualified Person for the purpose of NI 43-101.

JORC Competent person statement: Information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and approved by Mr. Paul Cromie, who is a Qualified Person under the definition established by JORC and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being 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’. Mr. Paul Cromie consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Opening of Meeting

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3

Director Introductions

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In Trundle

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Cameron McRae Independent Chairman Remuneration Committee

Lewis Marks Non-Executive Director Audit Committee

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John Holliday Independent Non-Executive Director, Technical/Committee Chair

Ray Nadarajah Independent Non-Executive Director Chair of Remuneration and Audit Committees

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Sam Spring President & CEO, Director Technical and Audit Committees

4

Meeting Agenda

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• Chairman’s Address

• CEO’s Presentation

• Formal Business – 8 Resolutions

• Q&A

5

6

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7

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Left to Right: Baggy, John, Sam McRae & Paul at the Trundle core yard

NSW portfolio update

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Crop before harvest at Trundle Park prospect, Trundle, NSW

Location: “The place to be”

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All gold-rich copper deposits in the World, highlighting those found in the last decade … and the 5 current hot spots for exploration

9

Kincora’s strategic and district scale portfolio

Kincora’s priority drilling projects:

• Sit in favorable locations of the key porphyry belts of the Macquarie Arc

• Are advanced stages of exploration and/or host large scale footprints

• Demonstrate potential hallmarks of neighboring world-class deposits

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LACHLAN FOLD BELT
(“LFB”) REGION
Kincora’s projects in
RED
MACQUARIE
ARC
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Project	Macquarie	Proximity to world-	Near term	Level of prior	Evidence of	Last partner /
	Arc	class mine	drilling	drilling	Cu & Au	owner
Trundle *	✓✓✓	Same system as	✓on-going	✓✓✓	✓✓✓	High Powered
		Northparkes				Exploration
Fairholme *	✓✓✓	<15km to Cowal	✓on-going	✓✓✓	✓✓	Kaizen
						Discovery
Nyngan	✓		✓first hole	✓	✓	Newcrest
Nevertire	✓				✓	St Barbara
Mulla	✓				✓	Burdekin
Cundumbul	✓✓		✓adjacent	✓	✓	Mitsubishi
*			license			Materials
Condobolin *				✓✓	✓✓	Ramelius
						Resources
Jemalong *	✓✓✓	<10km to Cowal &		✓✓	✓
		Marsden

10

• Joint Venture with RareX Limited

Advanced stage exploration next to world-class mines

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TRUNDLE CMOC & SUMITUMO
. .
Manna Creek Kennel
Boundary Gateway
Mordialloc E27
E22
E48 Dungarvan
GRP314
Trundle E26
Park JEMALONG
Northparkes
mine .
E44 (development)
FAIRHOLME
.
Caldera EVOLUTION
North Cowal
N .
Boundary
Cowal
Operator / project (above) Operator / project (right) mine Central Cowal
E46
Kincora Trundle project Kincora Fairholme project (north) E42
Jemalong project (east) E41
E40
CMOC Northparkes mine Evolution Mining Cowal mine
Prospect and Deposits E39
Gold 1. Sourced and adapted from public market
disclosures and Evolution Sep’20 investor day
Gold-Copper 2. Bespoke Mar’20 request by MinEx Consulting
Marsden
Porphyry for Kincora.. “Endowment” reported on a pre-mined resource basis. E43 deposit
Orebody N
Milly Milly
Background magnetics (TMI RTP) from minview.geoscience.nsw.gov.au
TULLAMORE RIFT
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11

Mongolia portfolio update

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November 2021 soil sampling at West Fox prospect on the Tourmaline Hills exploration license in the Southern Gobi

Mongolia’s world class porphyry belt

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On China’s doorstep, trucking distance to the world’s largest copper consumer

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Mining Licenses
Kincora Exploration
Licenses
Tourmaline Bronze Fox
Hills Cu-Au Cu-Au
(Kincora) (Kincora)
Shuteen
Kharmagtai
Cu-Au lithocap
White Pearl
Camp Tsagaan Suvarga
) (Kincora) Cu-Mo
Red Well
Cu-Au
(Kincora)
Rock-chip geochemistry Au
(g/t)
>2g/t
Oyu Tolgoi 0.5 to 2g/t
Cu-Au-Mo 0.1 to 0.5
<0.1g/t 13
v v
v
v
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• § >85Moz gold & ~50Mt copper endowment[1]

• Oyu Tolgoi gold-copper porphyries (>78Moz Au and >43Mt Cu[1] )

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• Kharmagtai gold-copper porphyries (8Moz Au and 3Mt Cu[2] )

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• Tsagaan Suvarga copper-molybdenum porphyries (~1.5Moz Cu and 60,000t Mo[1,2] )

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• Bronze Fox copper-gold porphyry (~1.2Mt Cu and ~0.9Moz Au[1] )

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• § Highly mineralised but vastly underexplored

• § One of the world’s fastest developing mining and infrastructure regions

• Bespoke 2019 request by Richard Schodde from MinEx Consulting for Kincora Copper providing Mongolia and Central Asian Orogenic Belt project level database.

• Company data

Resilience Mining Mongolia transaction

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• Field work recently concluded at Tourmaline Hills license at two prospects: West Fox (epithermal) & South West (porphyry & epithermal) targets, including mapping, soil/rock chip sampling & ground magnetics

• Definitive acquisition & JV agreement with Resilience Mining Mongolia (“RMM”) for Kincora’s Mongolian asset portfolio, retaining significant upside to exploration, project generation & development successes

• RMM has completed a prospectus/sup. prospectus’s for an Initial Public Offering (“IPO”) & admission to Australian Securities Exchange (“ASX”)[1] , with a conditional satisfaction deadline for completion of January 31, 2022

• A key use of proposed funds for RMM (subject to successful IPO): drilling walk up & shallow porphyry/epithermal targets at the Bronze Fox mining license & Tourmaline Hills exploration license; conversion of exploration target to JORC resource; and, drilling and desktop economic studies of at/near surface oxide material system at Bronze Fox (on mining license).

• Benefits to Kincora from RMM Agreement:

• retain a 20% free carry interest on existing project portfolio to certain material project delivery milestones

• to own 9.9% of RMM upon successful listing/raising on the ASX

• first right of refusal to gain 20% interest in new projects generated

• Completion of the Agreement is conditional on:

• RMM having raised a minimum of A$5 million in new equity alongside the IPO & having listed on the ASX by January 31, 2022

Tourmaline Hills exploration license Bronze Fox mining license

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West Fox3
Prospect name # Stage/activity per pipeline
Tourmaline Sophie Buchanan
Hills3 North [4] Heights4
West
South TH [4]
Kasulu Dunlop
Extension3 Fox3
West
Kasulu2 Leca
Shargal Pass [5]
Tolgoi [4]
Cu-
Au Porphyry
shallows1,2,3
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South West5
Exploration Target Pipeline – Stage/activities of listed prospects
4
5 4 3 2 1
14
Pre-
Title
Concept / Reconn- testingTarget drillingAdvanced Resource Desktop / Feasibility
aissance delineation scope study Feasibility
Mine
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Investment opportunity Ambition to become the leading pure play porphyry explorer in Australia’s foremost porphyry belt

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Team Industry leading technical team

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Location Tier 1 jurisdiction and geological prospectivity

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Targets Hallmarks to neighboring worldclass mines/deposits

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Catalysts Active systematic drilling at multiple targets/projects

Background photo: TRDD014W1 at 639.46m depth

Formal Business

1. Number of Directors - 5

2. Election of Directors

3. Re-appointment of Auditors

6. Equity Incentive Plan

7. Ratification of Prior Options

8. Shares for Services Contract

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4. Amendment to the Articles Q&A

5. Share Capacity (ASX Listing Rule 7.1A) Other Business

16

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KINCORA COPPER