MANUKA RESOURCES LTD. — AGM Information 2022

Nov 23, 2022

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AUSTRALIA – Cobar Basin

• Active gold & silver producer at Wonawinta and Mt Boppy Exceptional exploration potential within the Cobar Basin

• Valuable production infrastructure, strategically located

November 2022

NEW ZEALAND – Taranaki green VTM project

2022 AGM Presentation

• World class tier 1 project

• • Offshore vanadium titan-magnetite project, west coast, North Island

• • Lowest quartile CO2 emissions for bulk project

Summary of Proxy Voting

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2

2022 Accounts and Reports

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Receipt and Consideration of Account and Reports

To receive and consider the Financial Report, together with the Directors’ Report and the Auditor’s Report for the financial year ended 30 June 2022.

Further information

• Ms Siobhan Hughes, the representative of Ernst & Young, the Company’s external auditor is present and available to answer any queries.

• There is no requirement for Shareholders to Approve the Financial Report

• The 2022 Annual Report is available on the Company’s website at www.manukaresources.com.au

3

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Resolution 1

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Adoption of Remuneration Report

To consider, and if thought fit, to pass, with or without amendment the following advisory only resolution :

“That, for the purpose of section 250R(2) of the Corporations Act, and for all other purposes, the Remuneration Report, forming part of the Company’s 2022 Annual Report, be adopted.”

In Favour	Proxy’s Discretion	Against	Abstain / Exclude
49,406,882	12,187,873	880,425	91,058,005
79.08%	19.51%	1.41%

Further information

• The Directors recommend that Shareholders vote in favour of adopting the Remuneration Report

• The Chair intends to exercise all available proxies in favour of the resolution

• Voting prohibitions apply as set out in the Notice of Meeting

• The 2022 Remuneration Report can be found on pages 25 to 30 of the 2022 Annual Report

4

Resolution 2

Re-election of Director – Mr Nicholas Lindsay

This resolution has been withdrawn.

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5

Resolution 3

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Election of Director – Mr Alan Eggers

To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution :

“That, for the purposes of clause 13.3 of the Constitution and for all other purposes, Mr Alan Eggers, a Director, who retires after having been appointed a Director by the Board, and being eligible, is elected as a Director, effective on and from the conclusion of the Meeting.”

In Favour	Proxy’s Discretion	Against	Abstain / Exclude
141,759,731	11,007,568	709,724	56,162
92.37%	7.17%	0.46%

Further information

• The Directors recommend (with Mr Eggers abstaining) that Shareholders vote in favour of this resolution.

• The Chair intends to exercise all available proxies in favour of the resolution.

• Details of Mr Eggers’ experience and qualifications can be found on page 7 of the Explanatory Memorandum to the Notice of Meeting.

6

Resolution 4

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Election of Director – Mr John Seton

To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution :

“That, for the purposes of clause 13.3 of the Constitution and for all other purposes, Mr John Seton, a Director, who retires after having been appointed a Director by the Board, and being eligible, is elected as a Director, effective on and from the conclusion of the Meeting.”

In Favour	Proxy’s Discretion	Against	Abstain / Exclude
141,224,532	11,542,767	709,724	56,162
92.02%	7.52%	0.46%

Further information

• The Directors recommend (with Mr Seton abstaining) that Shareholders vote in favour of this resolution.

• The Chair intends to exercise all available proxies in favour of the resolution.

• Details of Mr Seton’s experience and qualifications can be found on page 8 of the Explanatory Memorandum to the Notice of Meeting.

7

Resolution 5

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Amendment to the Constitution

To consider and, if thought fit, to pass, with or without amendment, the following resolution as a special resolution :

“That, for the purposes of section 136(2) of the Corporations Act and for all other purposes, the Constitution be amended in the manner set out in the Explanatory Memorandum, with effect on and from the close of the Meeting.”

In Favour	Proxy’s Discretion	Against	Abstain / Exclude
141,691,167	11,015,632	259,036	567,350
92.63%	7.2%	0.17%

Further information

• The Directors recommend (with Mr Eggers abstaining) that Shareholders vote in favour of this resolution.

• The Chair intends to exercise all available proxies in favour of the resolution.

• The proposed amendment will ensure that the Company has the flexibility to conduct virtual meetings if needed.

• This Resolution is a special resolution and requires support for 75% of the votes cast.

8

Resolution 6

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Grant of Options to Mr Alan Eggers

To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution :

“That, for the purposes of ASX Listing Rule 10.11 (and for all other purposes), Shareholders approve the grant of 12,000,000 Options to Mr Alan Eggers (or his nominee) on the terms and subject to the conditions set out in the Supplement to Notice of Meeting.”

In Favour	Proxy’s Discretion	Against	Abstain / Exclude
47,242,354	10,598,000	177,772	95,525,058
81.43%	18.27%	0.31%

Further information

• The Directors, other than Dr Alan Eggers, who has a material financial interest in the outcome, recommend that Shareholders vote in favour of this resolution.

• The Chair intends to exercise all available proxies in favour of the resolution

• Voting prohibitions apply as set out on page 2 of the Supplement to the Notice of Meeting.

9

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AUSTRALIA – Cobar Basin

• Active gold & silver producer at Wonawinta and Mt Boppy Exceptional exploration potential within the Cobar Basin

• Valuable production infrastructure, strategically located

November 2022

NEW ZEALAND – Taranaki green VTM project

Chairman’s address to the AGM

• World class tier 1 project

• • Offshore vanadium titan-magnetite project, west coast, North Island

• • Lowest quartile CO2 emissions for bulk project

Disclaimer

This disclaimer applies to this presentation and the information contained in it (the Presentation ). By reading this disclaimer you agree to be bound by it. The Presentation has been prepared by Manuka Resources Limited and relates to its subsidiaries, related parties and any new assets or entities subsequently acquired or incorporated (collectively the Company ). The Presentation was prepared on 29 September 2022 and the information in it is subject to change without notice.

Purpose

The Presentation is for information purposes only and is an overview of the Company and its assets at the time of preparation. This Presentation does not contain all information necessary to make an investment decision or that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth) ( Corporations Act ). The Presentation is of a general nature and does not purport to be complete or verified by the Company or any other person.

Distribution outside Australia

Distribution or release of this document outside Australia may be restricted by law. This document may only be distributed or released to a person that is not in the United States except as permitted under the U.S. Securities Act. Persons who come into possession of this document who are not in Australia should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

Not an offer or financial product advice

The Presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in the Company nor does it constitute financial product advice. The Presentation is not a prospectus, product disclosure statement or other offer document under Australian law or under any other law. The Presentation has not been filed, registered or approved by any regulatory authority in any jurisdiction. The Presentation is not intended to be relied upon as advice or a recommendation to investors and does not take into account the investment objectives, financial situation, taxation situation or needs of any particular investor.

An investor must not act on the basis of any matter contained in the Presentation and must make its own assessment of the Company and conduct its own investigations and analysis. Investors should assess their own individual financial circumstances and consider talking to a financial adviser, professional adviser or consultant before making any investment decision. Neither this Presentation nor anything contained in it forms the basis of any contract or commitment and no agreement to subscribe for securities will be entered into on the basis of this Presentation.

No guarantee, representation or warranty

While reasonable care has been taken in relation to the preparation of the Presentation, none of the Company or their respective directors, officers, employees, contractors, agents, or advisers nor any other person (Limited Party) guarantees or

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the Company that a prospective investor or purchaser may require in evaluating a possible investment in the Company or acquisition of shares in the Company. To the maximum extent permitted by law, each Limited Party expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in the Presentation including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out or derived from, or for omissions from the Presentation including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom.

Forward-looking statements

The Presentation includes forward-looking statements and comments about future events, including the Company’s expectations about the performance of its businesses. Forward-looking words such as “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” or other similar expressions are intended to identify forwardlooking statements. Such statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward-looking statements are provided as a general guide only, and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward-looking statement. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in the Presentation to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. No Limited Party or any other person makes any representation, or gives any assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in the Presentation will occur.

Past performance

Past performance is not indicative of future performance and no guarantee of future returns is implied or given.

Previously reported information

The information in this presentation that relates to previously reported exploration results, Mineral Resources and Ore Reserves is extracted from the Company’s ASX announcements noted in the text of the presentation and are available to view on the Company’s website. The Company confirms that, other than mining depletion, it is not aware of any new information or data that materially affects the information included in the original announcements and, in the case of estimates of Mineral Resources and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changes. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially altered.

makes any representations or warranties, express or implied, as to or takes responsibility for, the accuracy, reliability, completeness or fairness of the information, opinions, forecasts, reports, estimates and conclusions contained in the Presentation. No Limited Party represents or warrants that the Presentation is complete or that it contains all information about

Manuka Resources Presentation | November 2022 11

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Corporate Summary
ASX: MKR
Share price (14 November 2022) A$0.16
Shares on issue 466m
Market capitalisation (undiluted) A$75m
Options (exp. April & July 2023 @ 25c) 22.25m
Options (exp. March 2023 @ 50c) 32m
Options (exp. December 2024 @ 35c) 12m
Total debt (as at 30 June 2022) ~A$11.0m
Cash at bank (as at 30 September 2022) ~A$0.5m
Board of Directors & Senior Management
Executive Chairman Dennis Karp
Executive Director (TTR) Alan Eggers
Non-executive Director Anthony McPaul
Non-executive Director Nick Lindsay
Non-executive Director John Seton
Company Secretary Toni Gilholme
Chief Operating Officer Haydn Lynch
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“Manuka intends to grow shareholder value by optimising quality resource assets. The emerging green energy fuelled global economy is providing such opportunities.”

Manuka Resources Presentation | November 2022

12

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(the management team has a combined shareholding in Manuka Resources exceeding 30%)

Board of Directors & Management

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Alan Eggers – Executive Director

John Seton – Toni Gilholme – Non-Executive Director Company Secretary & Financial Controller

Nick Lindsay – Non-Executive Director

Dennis Karp – Executive Chairman

Anthony McPaul – Non-Executive Director

Haydn Lynch – Chief Operating Officer

Alan is a geologist with over 40 years of local & international experience. He brings with him exceptional commercial expertise and was a founding director of Summit Resources Ltd which they built from listing on the NZX in 1987 into an ASX top 200 company and an ultimate takeover by Paladin Energy for A$1.2B in 2007. He holds a number of private directorships.

Dr Lindsay is a mining executive who brings strong experience and a mix of commercial, technical and academic qualifications. He has worked directly for a range of major and midtier mining companies over his career, and led juniors in copper, gold and silver though listings and mergers. Nick is a geologist by profession, specialising in process mineralogy, and has postgraduate degrees from the University of Otago (NZ), the University of Melbourne and the University of the Witwatersrand (South Africa). He is a member of the AusIMM and Australian Institute of Geoscientists.

John is an Auckland Toni is an experienced Over 25 years of based lawyer with Financial Controller and experience in M&A, extensive experience in a Chartered Accountant financial markets and commercial law and the with over 15 years private equity, and with mineral resources experience in Financial a substantive track sector. He was a Accounting and record in the origination director of Summit Company Secretarial and execution of Resources Limited until matters as well as an domestic & crossits sale in 2007, as well border transactions in additional 10 years of as being a director of a experience in a variety metals & mining in number of other ASX of roles in Public Australia, Africa, Japan, and NZX listed private Practice. She has China, and Mongolia. companies. He was a worked in a range of former Chairman of the senior positions both in Senior management Vietnam/New Zealand the UK and in Australia experience includes Business Council. and has a strong focus Bankers Trust Australia, on efficiency gains Investec Bank, RBC John holds a Bachelor through improving Capital Markets and of Laws from Victoria processes and Southern Cross Equities. University, Wellington, strengthening internal Haydn has degrees in and a Masters of Law controls. Mechanical Engineering (Honours) from the and Economics from the University of Auckland She holds a Bachelor of University of Qld and a and is a Chartered Business from the Masters in Commerce Fellow of the New University of from the University of Zealand Institute of Technology, Sydney. New South Wales. Directors. Manuka Resources Presentation | November 2022 13

Dennis commenced his career in the Australian financial markets in 1983. He was the Head of Trading at HSBC Australia prior to joining Tennant Limited in 1997, one of Australia’s largest physical commodities trading companies with operations in Asia and Europe. He was a principal shareholder of Tennant Metals until 2010, and a director until December 2014,

Tony is a senior mining executive with over 35 years’ experience in mining operations and mineral processing, (both underground & opencut operations). He was most recently the general manager for Newcrest’s Cadia Valley Operations, in Orange NSW, and formally retired from Newcrest in 2016.

Tony has sat on a range of Boards and industry bodies including the Minerals Council Executive Committee and Mineral Industry Advisory Council. He qualified in automotive engineering from Goulburn TAFE.

Alan holds Bachelor of Science, Honours and Masters of Science degrees from Victoria University of Wellington. He’s a Fellow of the Society of Economic Geologists, & a member of AusIMM, & Australian Institute of Geoscientists

He led the syndicate which purchased the Manuka assets in 2016. He holds a Bachelor of Commerce from the University of Cape Town

Major Producers, substantial discoveries within Cobar Basin

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Manuka currently exploring for: Manuka
copper – gold
Operating mines
zinc – silver - lead
Peel Mining Endeavor (Elura)
Aurelia Metals
Anchor Resources
CSA
Toho Zinc Mount Boppy
Peak
Glencore
Sandfire Resources
Hera - Nymagee
Wonawinta
Source: S&P Global Market Intelligence
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Manuka Resources Presentation | November 2022 14

Manuka’s Tenement Package

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JORC Resources
Wonawinta Silver Project as at 1 April 2021
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Manuka Resources Presentation | November 2022 15

Mt Boppy (past, present & future)

Mt Boppy historically produced 500koz @ 15 g/t from a very contained area

Manuka commenced production of Mt Boppy in April 2020, our IPO estimated Phase 1 production of 22-24koz Au but delivered >41,000koz. (560,00t @ 3 g/t).

Higher grades + plant operating efficiencies combine to drive Phase 1 production to nearly double original forecast*

Mt Boppy is open at depth with possible along-strike extensions to the North and South. The project is fully approved with mine camp, tailings storage facility & power. Updated resource of ~45,000oz at 4.95g/t Au

Await mine plan (expected late Q4 2022) to confirm recommencement of operations

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Perspective view looking south-east. West lode is shown in orange, east lode shown in yellow and current pit design in blue, and high-grade zone (5 g/t Au) shown in red. Historical workings are shown in grey

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Au
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V
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• Refer ASX releases dated 4 March 2022

Manuka Resources Presentation | November 2022 16

Mt Bopp gold exploration Silver production at Wonawinta Silver production at Wonawinta

• 2022 and produce ~900,000oz Ag)

• Wonawinta produced approx. 3.0Moz silver during 2012-2015

• JORC Ore Reserve Estimate expected mid-2022

• JORC mineral resource estimate following extensive infill drilling ~51M oz silver (also 207Kt Pb not included as silver equivalent)*

• Substantial plant capacity >850kt pa, significant refurbishment in early 2020, new modular elution circuit installed for gold phase (now removed from flowsheet)

• Fully approved with 84 person mine camp, office infrastructure, TSF & water supply

• Manuka commenced silver production on 31 March 2022 on 515,000t stockpiles containing 70g/t Ag* (to continue until end 2022 and produce ~800,000oz Ag)

• Refer ASX releases dated 1 April 2021 (also see slide 17)

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Ag
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• Refer ASX releases dated 1 April 2021

Manuka Resources Presentation | November 2022 17

A very deep basin

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The major producers in the Cobar basin all operate at substantial depth:

• CSA copper gold mine (Glencore owned) >2.0km deep

• Peak gold mine (Aurelia owned) >1.0km deep

• Endeavour lead, zinc, silver mine (now on C&M) >1km deep

But Wonawinta silver oxide project is just 60m deep.

*Wonawinta Deeps ‘proof-of-concept’ diamond drill program, initially drilled in Feb 2021 successfully highlights lead-zinc-silver mineralisation over 3km strike

• 18 hole 5,000m drilling program (2,400mt diamond drill) drilled beneath existing open pits over 3km in length, supports existence of lead-zinc-silver sulphide mineralization with Mississippi Valley Type (MVT) affinities

• The 3km strike (beneath the pits) is part of a total 15km strike length along the Winduck Shelf strata held by Manuka on western flank of Cobar Basin

• Geophysics survey commenced in May 2022 along entire Wonawinta Trend. Initial indications very promising. To be followed by further drilling in Sept quarter

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• Mineralisation intervals to date include:

  • 4m @3.20% Pb, 3.20% Zn, and 63g/t Ag*

  • 5m @1.7% Pb, 0.82% Zn, and 128 g/t Ag*

• Refer ASX release dated 1 June 2021

Manuka Resources Presentation | November 2022 18

Taranaki VTM Project (Vanadium, titano-magnetite)

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• Offshore Vanadium Titaniferous Iron Sands

• West Coast, North Island, New Zealand

• World class project

Taranaki VTM Project location: (vanadium, titano-magnetite) outside territorial waters, in exclusive economic zone (EEZ)

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Manuka Resources Presentation | November 2022 20

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Our core projects –
the world class
Taranaki VTM project
(vanadium, titano-magnetite)
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Taranaki VTM Project – project highlights

• World class resource 3.8bt vanadium, titanium & magnetite (iron ore)

• Targeted lowest quartile carbon emissions* of Fe producers globally (62kg CO2/t vs 125-250kg CO2/t)

• Anticipated lowest quartile costs for Fe producers* US$20-23/t FOB (PFS 2013 adj. inflation) EXCLUDING credits from vanadium or titanium

• Located within NZ EEZ (exclusive economic zone targeting gas, oil, mining) .

• NZD$85m invested to date (>US$50m)

• Mining Licence granted 2014 (MP55581) – 5Mt pa production for 20 years

• Granted initial EPA environmental consents to operate 2017 with final review process underway post New Zealand High Court directions hearing

• New Zealand government focused on implementing mining code subject to appropriate environmental safeguards

• based on TTR PFS: https://www.manukaresources.com.au/site/investor-centre/pending-acquisitions

Manuka Resources Presentation | November 2022

21

Taranaki VTM (vanadium titano-magnetite) Iron Sands Project Features

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Forecast to be in the bottom quartile
of the global iron ore operating cost
curve The Taranaki project is headed by Alan
Eggers and a team who have a proven track
Mining licence approved for recovery
record of building resource companies in
of 5Mt of iron ore per annum for
New Zealand and internationally
minimum 20- ear life of mine .
y
0.5% V O
VTM Concentrate Grade 2 5 = 55 million pounds/year of
vanadium pentoxide in concentrate.
0.5%V O 8.5%Ti0 56% - 57%Fe
2 5 2 Metallurgical test work completed to date
recovers ~84%
Total 3.8Bt JORC Resource Base
Anticipated lowest quartile CO2
emitter for iron ore producers
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Manuka Resources Presentation | November 2022 22

• Refer to Manuka Resources ASX release 1 August 2022

Achievements to Date

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Project Expenditure to date: NZD$85m (US$50m equivalent) Granted EPA Mining Licence Delivered Environmental MP55581 3.8Bt JORC Consents to Granted Resource Operate

Manuka Resources Presentation | November 2022 23

Taranaki VTM Project (vanadium titano-magnetite): Environmental Advantages

• Very low carbon emissions compared to other hard rock iron ore deposits with no:

• Heavy machinery mining fleet

• • Open pits

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• No impact on fish, whales or dolphins

• No legacy issues with rehabilitation part of recovery process

• Waste dumps

• Haul roads

• Grinding circuits

• • Railroad or ports

Manuka Resources Presentation | November 2022 24

Integrated Mining Vessel (IMV)

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Length	335m
Breadth	60m
Depth	26.25m
Design Draught	12m

Technology has been developed and utilised by De Beers Marine for over 40 years in their mining for diamonds off west coast of Southern Africa. De Beers Marine have provided a commissioning and operating solution for the first two years of production, also providing us with an option for extension. This is a tried and tested recovery solution. See YouTube hyperlink below.

(2655) Trans Tasman Resources Offshore Iron Ore project HD 20150925 - YouTube

Manuka Resources Presentation | November 2022

25

Summary of Estimated Costs/t (concentrate)

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Commodity Prices 5 September 2022	Commodity Prices 5 September 2022		Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)	Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)	Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)	Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)	Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)	Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)	Summary Estimated Operating Costs (C1) of STB Project (subject to completion of BFS). (Based on 72% operational availability after allowing for inclement weather in South Taranaki Bight.)
•	Iron Ore (62%Fe):US$105t			4.9Mtpa (concentrate	$US	Unit cost/tonne	Percentage
				production scenario)**		(concentrate) $	%
•	Vanadium Pentoxide:US$7.50lb			Labour	23,790,000	4.86	24%
•	Titanium Dioxide:US$3,200t			Fuel*	32,079,661	6.55	33%
Taranaki VTM Metal in Concentrate Value per Tonne				Maintenance	14,375,000	3.00	15%
•	Iron Ore (57%Fe): US$89.25(15% discount)			FSO Operation	13,415,000	3.00	14%
				Consumables	5,000,000	1.00	5%
•	Vanadium (0.5%): US$82.50			Insurance	5,000,000	1.00	5%
•	Titanium (8.5%): US$272			Sales costs	4,900,000	1.00	5%
				Total	98,559,661	$20.41	100%
Manuka envisages the Taranaki Project being a low cost producer with C1 costs				*based on IFO380 bunker fuel at 26 July 2022 of US$495.50/t ex Singapore
approximately US$20 - US$2~~3~~[1] per tonne of concentrate.				** subject to validation in BFS
[1]Based upon the TTR PFS (2013) updated to 2022 economics
See	ASX release 1 August 2022

Note: Vanadium metallurgical test work still to be finalised but >84% recoverable. Titanium credits not currently included in revenue estimates.

Manuka Resources Presentation | November 2022 26

Taranaki Iron Sands Project: Business Milestones & Working Assumptions regarding Timing (based on all NZ regulatory consents/permitting being granted and availability of finance)

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Commission &
First Production
Construction
Contracts &
Finance
Build
Final Design
Metallurgical & BFS
EPA Tests &
Consents Marketing
Completed sale to
reissued Report
Manuka Resources
Limited
Q4 2022 Q1 2023 Q1 2023 Q1 2024 Q1 2024 Q1 2024 Q4 2025 – Q1 2026
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Manuka Resources Presentation | November 2022 27

Appendix 1 Manuka’s Gold and Silver Resource Base

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On 29[th] July 2022 a Resource Update was announced for the Mt Boppy gold project through the ASX. On 1[st] April 2021 a Resource Upgrade was provided for Wonawinta Silver Project reflecting a 43% increase in the Measured and Indicated Resource Categories.

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Mineral Resource Summary 19 May 2022 JORC Resources
Mt Boppy Resources Wonawinta Silver Project as at 1 April 2021
Grade Au Contained gold Resource Material Ag Pb
Resource Category Tonnes (g/t) ounces Category (Mt) (g/t) Ag Moz (%) Pb kt
Measured 106,850 5.25 18,020 Measured 1.1 47.3 1.65 0.69 7.5
Indicated 150,000 4.85 24,700 Indicated 12.3 45.5 18.04 0.83 102.8
Inferred 17,000 3.93 2,100 Inferred 24.9 39 31.25 0.39 96.9
Total 281,850 4.95 44,820 Total 38.3 41.3 50.94 0.54 207.2
Stockpile 0.515 70 1.16
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Manuka Resources Presentation | November 2022 28

Appendix 2 Taranaki VTM Project (vanadium titano-magnetite): JORC Resource Estimates

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STB Mineral Resource Estimates	STB Mineral Resource Estimates	STB Mineral Resource Estimates	STB Mineral Resource Estimates	STB Mineral Resource Estimates	STB Mineral Resource Estimates
	Mineral Resources			Concentrate
	Cut-Off Grade	Mt	Fe2O3 %	Mt	Fe %
Mining Area Stage 1	3.5% DTR*	1,043	11.28	75	56.31
Kupe Blocks North & South	3.5% DTR*	655	10.97	45	56.73
Mining Area Stage 2 & Outside 1 & 2	7.5% Fe2O3	2,137	9.66

• DTR is David Tube Recovery of the magnetic fraction of the sample

• DTR Estimate is based on analytical DTR & calculated DTR values

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• JORC (2012) compliant

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Appendix 3 Taranaki VTM Project advantages (vanadium titano-magnetite)

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An emerging vanadium, titanium & iron ore project with a substantial resource. Lowest quartile cost and
CO2 emissions for bulk projects, presents potential to realise greater value over medium to long term
Experienced board and
Early mover advantage DeBeers Marine SA +30
Low sovereign risk low- management operating
on bulk, scalable marine years experience
royalty regime to the highest governance
mining IP operating partner
standards
Technology solution TTR iron sands lowest
(IHC) has cross Bulk shipping freight carbon intensity New Zealand is well
commodity application in advantage located close 62kgCO2/t versus placed to develop a new
heavy mineral marine to markets 120-250kgCO2/t for long-term export industry
deposits competitors world wide
Low site operating
Large scale resources STB has low capex and
Low capital intensity costs no drill and blast,
with further potential to opex advantages of
infrastructure advantage trucking, rail or port costs,
acquire acreage being entirely marine-
over land based deposits rehabilitation, no waste
worldwide based operation
dumps, or legacy issues
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Appendix 4 The Vanadium Fact Sheet

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Vanadium Lithium

Vanadium is deemed a critical mineral in: USA, EU & Australia

Vanadium flow batteries now utility/grid storage medium of choice (gaining similar status in grid storage to that what lithium holds in mobility storage)

Demand prediction – double 5yrs

(>20,000t / 55 million lbs vanadium p.a. in concentrate = ~15% of global production)

Safety: Non-flammable,

20 year long-life battery.

Expectations are 8–10 year lifespan. Recycling more

*Siecap – Why vanadium redox flow batteries will be the future of grid-scale energy storage 24-8-2022

** Paul Christensen – Professor of electrochemistry at Newcastle University

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Appendix 5 South Taranaki Bight - already an Active Petroleum Region with 4 current petroleum permits, and gas well and pipeline to mainland

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