MARMOTA LIMITED — AGM Information 2016

Nov 7, 2016

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AGM 2016 Chairman’s Presentation

8 November 2016

Capital Structure

Shares on issue~	450m
Listed op4ons	0
**Unlisted op4ons~ **	1.9 m
Market Cap(at 1.8 cents per share)	~ $8.1 m
Cash(as at 30 September 2016)	$852,000
Zero Debt

Largest Shareholders

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Dr Colin Rose Southern Cross Capital J Rose Yandal Investments Rest

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Board & Management

Chairman (non-exec) Dr Colin Rose Managing Director / CoSec David Williams Technical Director (non-exec) Peter Thompson

	Top	Shareholders
Top	20	~ 43%(2015: 37%)
Top	50	~ 59%(2015: 51%)
Top	100	~ 72%(2015: 67%)

Marmota runs the en4re non-exec Board for a cash cost of $17,001 p.a. Lower costs Less dilu4on More explora4on

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• As at 4 November 2016

ASX: MEU �

3 month plot

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Aurora Tank announcement ASX:MEU 25 Oct 2016

3 year plot

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Board Restructuring 1 May 2015

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� Restructuring is bearing fruits …

• Revitalised Board

• New capital

• :

• Opera4ng costs cut saving about $700,000 per annum[* ]

• run the en[re non-exec Board for a cash cost of $17,001 p.a.

• New Explora4on team and More Explora4on

All adds up. Every dollar goes twice the distance. Less dilu4on. More explora4on.

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• Compared to year to June 2015

Copper

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Gold

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Uranium

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• Explora[on Target (June 2016)[1,2] :

• 1 to 4 million tonnes at average grade between 1.0% and 1.5% copper

• Seeking next Challenger

Over 5,500 km[2] of lightly explored ground around Challenger …

• 5.4 million pounds U3O8 Inferred Resource[3 ]

• Explora[on Target: 22-33 million pounds U3O8[1,4]

Aurora Tank: exci[ng results

1. See MEU:ASX 16 June 2016

2. See MEU:ASX 18 July 2013 4. See MEU:ASX 9 July 2012

Uranium

Copper

Gold

Marmota already has a uranium JORC resource

Next drilling program on the Copper Coast should result in an Inferred Resource being able to be reported in accordance with the JORC code[1 ]

Already well on our way at Aurora Tank …

… which is why …

1. See MEU:ASX 16 June 2016 and 31 October 2016

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… � Change of Name

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GOLD

Seeking the next Challenger …

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• gold mines[1]

• Over 1 million ounces of gold already produced[2]

• (A$1.7 billion at current prices)

• Discovered by drilling calcrete gold anomalies

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1 cf . Southern Gold Annual Report 2009 p. 11

Challenger Pit Source: Kingsgate Consolidated Limited

2 Kingsgate Consolidated Limited: ASX Release dated 26 November 2014

Stage 1: Consolidate

our Marmota has judiciously been consolida4ng and expanding

DOMINANT tenement holding around Challenger

o S : ee diagram next page

• MEU tenements now cover over 5,700 km[2 ] of highly prospec[ve ground around the Challenger gold mine

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MEU, Challenger and Neighbours

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Stage 2: Bring in the geologist who found Challenger

In March, we were delighted to bring in Dr Kevin Wills … the geologist who designed the programs that discovered Challenger …

… to head up Marmota’s new explora[on team.

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new anomalous gold-in-calcrete zones

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see ASX:MEU 25 Oct 2016 Results just in [ ]

15 intersec[ons greater than 1 g/t gold including:

� 4m at 8.0 g/t gold from 24m – Hole 16AT043 � 4m at 3.7 g/t gold from 24m – Hole 16AT044 � 4m at 4.9 g/t gold from 32m – Hole 16AT061 � 4m at 3.9 g/t gold from 20m – Hole 16AT062 � 4m at 3.3 g/t gold from 36m – Hole 16AT028 � 4m at 3.1 g/t gold from 24m – Hole 16AT019

• Consistently close to surface

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Peter Thompson, Marmota’s Technical Director, will deliver a separate presenta4on about our Explora4on Program

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Disclaimer

This presenta[on has been prepared by Marmota Energy Limited (“MEU”). The informa[on contained in this presenta[on is a professional opinion only and is given in good faith. Certain informa[on in this document has been derived from third par[es and though MEU has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by MEU. Any forward-looking statements included in this document involve subjec[ve judgement and analysis and are subject to uncertain[es, risks and con[ngencies, many of which are outside the control of, and may be unknown to, MEU. In par[cular they refer only to the date of this document they assume the success of MEU’s strategies, and they are subject to significant regulatory, business, compe[[ve and economic risks and uncertain[es.

Actual future events may vary materially from those in the forward looking statements. Recipients of this document are cau[oned not to place undue reliance on such forwardlooking statements. MEU makes no representa[on or warranty as to the accuracy, reliability or completeness of informa[on in this document and does not take responsibility for upda[ng any informa[on or correc[ng any error or omission which may become apparent aoer this document has been issued. To the extent permiped by law, MEU and its officers, employees, related corpora[ons and agents, disclaim all liability, whether direct, indirect or consequen[al for any loss or damage arising out of, or in connec[on with, any use or reliance on this presenta[on or informa[on.

Cau4onary Statement

The es[mates of explora[on target sizes men[oned above should not be misunderstood or misconstrued as es[mates of Mineral Resources. The es[mates of explora[on target sizes are conceptual in nature and there has been insufficient results received from drilling completed to date to es[mate a Mineral Resource compliant with the JORC Code (2004) guidelines. Furthermore, it is uncertain if further explora[on will result in the determina[on of a Mineral Resource.

Forward Looking Statement

This report may contain forward looking statements that are subject to risk factors which are based on MEU’s expecta[ons rela[ng to future events. Forward-looking statements are subject to risks, uncertain[es and other factors, many of which are outside the control of MEU, which could cause actual results to differ materially from such statements. MEU makes no undertaking to update or revise the forward-looking statements made in this report to reflect events or circumstances aoer the date of this release.

Competent Persons Statement

Informa[on in this explora[on update rela[ng to Explora[on Targets, Explora[on Results and Mineral Resources is based on informa[on compiled by Dr Kevin Wills, who is a Member of the Australasian Ins[tute of Mining and Metallurgy. He has sufficient experience which is relevant to the styles of mineralisa[on and types of deposits under considera[on and to the ac[vi[es being undertaken to qualify as a Competent Person as defined in the 2012 Edi[on of the “ Australasian Code of Repor[ng of Explora[on Results, Mineral Resources and Ore Reserves.” Dr Wills consents to the inclusion in this report of the mapers based on his informa[on in the form and context in which it appears.

For further informa[on, please contact: David Williams Managing Director Email: info@marmotaenergy.com.au Phone: (08) 8294-0899

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