METALSGROVE MINING LTD — Investor Presentation 2022

Nov 22, 2022

==> picture [215 x 123] intentionally omitted <==

Investor Presentation RIU Conference - November 2022

==> picture [312 x 121] intentionally omitted <==

www.metalsgrove.com.au

ASX Code: MGA Advanced Critical Metals Portfolio Rapid Exploration and Development WA and Northern Territory

Disclaimers

GENERAL INFORMATION ONLY

This presentation contains general background information and summary information about MetalsGrove Mining Limited (ACN 655 643 039) (“MetalsGrove”) and its activities as at the date of this presentation.

DISCLAIMER

None of the members of MetalsGrove or MetalsGrove’s respective advisors, affiliates, related bodies corporate, directors, officers, partners, consultants, employees and agents (“Other Persons”) have authorised, permitted or caused the issue, submission, dispatch or provision of this presentation and none of them makes or purports to make any statement in this presentation. To the maximum extent permitted by law, MetalsGrove and the Other Persons expressly exclude and disclaim all liability, including without limitation for fault or negligence on the part of any person, or for any expenses, losses, damages or costs incurred as a result of the use of this presentation or its contents and the information in this presentation being inaccurate or incomplete in any way for any reasons, whether by negligence or otherwise. To the maximum extent permitted by law, each of MetalsGrove and the Other Persons make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of all or any part of this document, or any constituent or associated presentation, information or material, or the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects of returns contained in or implied by, the information in this presentation or any part of it. Except as required by applicable law or regulation, neither MetalsGrove nor the Other Persons have any obligation to provide any additional or updated information, whether as a result of new information, future events or results or otherwise. The information in this presentation is strictly confidential It may not be disclosed, reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of MetalsGrove.

NOT INVESTMENT ADVICE

This presentation is not financial product nor investment advice or a recommendation to acquire securities in MetalsGrove (nor does it or will it form part of any contract to acquire securities in MetalsGrove). It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice.

PAST PERFORMANCE

Past performance is not necessarily indicative of future results and no person guarantees the performance of any financial product or service or the amount or timing of any future return from it. There can be no assurance that the financial product or service will achieve any targeted return, that asset allocations will be met or that the financial product or service will be able to implement its investment strategy and investment approach or achieve its investment objective.

FORWARD LOOKING STATEMENT

This presentation contains forward looking statements concerning the projects owned by MetalsGrove. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forward looking statements are not statements of historical fact and actual events and results may differ materially from those described in the management’s beliefs, opinions and estimates should change or to reflect other future developments. Data and amounts shown in this presentation relating to capital costs, operating costs and project timelines are internally generated best estimates only. All such information and data is currently under review as part of MetalsGrove’s ongoing development and feasibility studies. Accordingly, MetalsGrove cannot guarantee the accuracy and/or completeness of the figures or data included in the presentation until the feasibility studies are completed.

COMPETENT PERSON STATEMENT

The information in this presentation that relates to Exploration Results is based on information compiled by Mr. Sean Sivasamy who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Sivasamy is Managing Director and CEO of MetalsGrove Mining Limited and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2012 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Sivasamy consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

AUTHORISATION STATEMENT

This presentation is authorised for market release by MGA’s Board of Directors.

NOT AN OFFER

This presentation and its contents are not an invitation, offer, solicitation or recommendation with respect to the purchase or sale of any securities in the Company in any jurisdiction and must not be distributed, transmitted, or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. This presentation is not a prospectus or any other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law.

All currency amounts are in Australian dollars unless specified otherwise.

www.metalsgrove.com.au

Page 2

Company Update

• ASX: MGA Listed on ASX on 6 July - Focus Essential metals for a clean energy future – Maiden Drill Program Upper Coondina Lithium Project - Advanced Portfolio lithium, rare earth, gold-copper, manganese and base metal

CAPITAL STRUCTURE

Share Price (22 November 2022) A$0.165 Total number of shares 52,710,000 Market capitalisation A$8.7m Net cash (31 October 2022) A$5.57m

==> picture [290 x 230] intentionally omitted <==

==> picture [678 x 163] intentionally omitted <==

www.metalsgrove.com.au

Page 3

Corporate and ESG

Mr. Richard Beazley Non-Executive Chairman

• A mining engineer with 35 years of experience with a strong corporate, operational and technical background in mining, renewables, infrastructure and manufacturing and has worked on projects throughout Australia, Africa and South America

• Founder and Director of both Altair Mining Consultancy and Hydrogen Energy Pty Ltd and the Interim CEO and Managing Director for Troy Resources (ASX-TRY)

• Managing Director Peak Resources Limited (ASX-PEK), Chief Operating Officer Sandfire Resources NL (ASX-SFR), Consolidated Minerals, St Barbara Limited (ASX-SBM) and Greenbushes at Sons of Gwalia Ltd (ASX-SGW)

Mr. Sean Sivasamy Managing Director and CEO

• A skilled mining professional with a Master’s Degree in Geology with more than 25 years of global experience.

• He has held Director and Senior Management roles in Tambourah Metals Ltd (ASX-TMB), Pilgangoora Minerals, Aditya Birla Minerals (ASX-ABY), OreMin Consultants and other roles within large, medium and junior mining companies in Australia, Africa, India and South East Asia

• In his career has identified a gold resource in Victoria which eventually had estimated gold deposits of circa 1m ounces and discovered a copper sulphide deposit in Western Australia. He also identified 4 copper deposits in Queensland for further exploration and mining

Mr. Haidong Chi Non-Executive Director

• Mr Chi holds extensive experience in the commodity trading markets for the past 20 years. He also holds a Master’s degree in Business Administration (MBA) from Peking University

Social

Dedicated to contributing actively to any connected community and generating value

==> picture [103 x 88] intentionally omitted <==

Economic

Dedicated to responsible economic development through transparent tax contributions, employment, and shared returns

Environment

Dedicated to accelerated decarbonisation through cutting-edge production technology, reduced costs, and a smaller environmental footprint

Governance

Dedicated to leading standards and frameworks of corporate governance. Our top priority is to commit to the highest levels of rigor in business ethics and governance

• Mr Chi is a one of the very early co-founders of Kimberley Metals Group and KMG Mining Pty Ltd. Mr Chi has been the Managing Director of the company's business operations

• Most recently Mr Chi was a Vice President of US Capital Holdings Group, a US based private equity investment company that specialises in assisting Chinese companies gain access to international capital markets

www.metalsgrove.com.au

Page 4

Investment Highlights

• GREEN METAL exploration and development including BATTERY and RENEWABLE ENERGY market

• Advanced portfolio targeting lithium , rare earth , copper , manganese , gold and base metal resources

• Near-term drilling of multiple advanced lithium, manganese and REE targets over the coming months

• Priority near-term focus is the Upper Coondina Lithium Project

• Upper Coondina has the potential to be part of the same system that hosts the major lithium discovery announced by Global Lithium (ASX: GL1) and similar geological setting as Pilbara minerals (ASX: PLS)

• Exciting lithium, REE and base metal mineralisation also confirmed at Bruce Prospect in NT

==> picture [396 x 334] intentionally omitted <==

www.metalsgrove.com.au

Page 5

Advanced Critical Metals Portfolio

LITHIUM, TIN AND TANTALUM

• Upper Coondina Project is a high-quality lithium, tin and tantalum project in highly prospective regions in Western Australia (Pilbara lithium mineral field)

• Surface field mapping and rock chip sampling confirms multiple outcropping pegmatite dykes varies from 3m to 30m wide occurring in swarms

• Drilling commenced on 22 November 2022

RARE EARTH ELEMENTS

• Bruce and Box Hole are located in the Arunta project, near Alice Springs Northern Territory

==> picture [205 x 154] intentionally omitted <==

----- Start of picture text -----

Upper Coondina Pegmatite Outcrop
----- End of picture text -----

Bruce-Plenty River Pegmatite Outcrop

• Surface field mapping and rock chip sampling highlights multiple zones of mineralised pegmatites

COPPER-GOLD & BASE METALS

• Includes the Box Hole, Edwards Creek and Bruce Gold Projects

• Edwards Creek prospect CRAE (1980s) drilling intersected 4.5m @ 2.25% Cu, 0.11% Pb, 1.54% Zn, 0.14 g/t Au from 47m and 18.6m @ 0.22% Cu, 0.17% Pb, 0.49% Zn, 0.14 g/t Au from 44.3m

MANGANESE

Woodie Woodie North Mn Outcrop

Bruce North Mineralised Quartz Vein

• Woodie Woodie North Manganese Project is located within the Tier-1 Pilbara manganese province nearby to critical infrastructure

• Surface sampling has returned a number of highly anomalous manganese and cobalt assays (up to 52% Mn and 540ppm Co)

www.metalsgrove.com.au

Page 6

Upper Coondina: Lithium, Tin and Tantalum

• Location: located 85 km south-west of Marble Bar in the East Pilbara district

• CSR identified simple pegmatite veins as the sources of the tin

• Potential to establish economic long-term producing assets

• Well connected to mining infrastructure.

• No serious lithium exploration has been carried out within the project area

• 45 dominating pegmatite formations have been -

• identified pegmatite dykes strike approximately northeast-southwest within a regional corridor extending 8 km

==> picture [461 x 381] intentionally omitted <==

www.metalsgrove.com.au

Page 7

Upper Coondina: Lithium, Tin and Tantalum

Multiple outcropping pegmatite dykes occurring in swarms and varying in width from 3m to 30m

==> picture [911 x 324] intentionally omitted <==

----- Start of picture text -----

E 45/5952 E 45/5952
----- End of picture text -----

• Correlation mineralisation trend showing with Li 2 O and Ta soil Geochemistry and AMAG Thorium anomalies

www.metalsgrove.com.au

Page 8

Upper Coondina: Chola Lithium Prospect

• MGA’s priority drill target at Upper Coondina will be the Chola Prospect – a pegmatite corridor measuring approx. 4.0 km x 2.0 km

• First pass soil sampling assay results confirm strong lithium and tantalum potential

• High-grade soil samples recorded from recent field trip including 670 ppm lithium and 103 ppm tantalum

• Phase one will comprise an initial 3,000m RC drilling program at the Chola Prospect

==> picture [467 x 331] intentionally omitted <==

Upper Coondina Lithium project showing pegmatites with lithium assay heatmap against pegmatite outcrop and pegmatite structural corridor-Chola Prospect

www.metalsgrove.com.au

Page 9

Arunta Project: Rare Earth, Base Metal, Copper-Gold

• Project: Arunta Project-Northern Territory

• Location: 110 km north of Alice Springs

• Size: Approximately 320 km[2] (EL32420, EL31225 and EL32419)

• Interest: 100%

• Access: Via Stuart and Plenty Highways

• Well connected to existing mining infrastructure

• Presence of rare earth (REE) anomalism associated with Cu-Au and base metal mineralisation has recently been demonstrated in the Arunta project (Norwest Minerals and WA1 Resources)

• “Recent pre-drilling exploration has confirmed Broad

• conductor confirmed along strike from the Plenty River mine adjacent to magnetic features interpreted to be components of the pegmatite intrusion”

Refer to slide 20 for further information with respect to the third party results.

==> picture [448 x 372] intentionally omitted <==

www.metalsgrove.com.au

Page 10

Bruce Prospect: REE and Lithium Target

==> picture [370 x 305] intentionally omitted <==

==> picture [370 x 305] intentionally omitted <==

• Interconnected gossanous quartz veins extend for over 2.1 km within sediments

• Recent surface field mapping and rock chip sampling highlights multiple zones of mineralised pegmatites confirmed REE mineralisation

• Significant grade Rare Earth assay results including TREO 433ppm, HREO 363ppm, LREO 145.5ppm, CREO 322ppm, MREO 135ppm

• Near-term work programs include follow up drill testing

www.metalsgrove.com.au

Page 11

Bruce Prospect: Copper-Gold Targets

Significant Copper- Gold Potential

• Rock chip samples taken by the Northern Territory Geological Survey assayed 53 g/t Au and 1.7% Cu

• Previous geological mapping located ferruginous gossanous quartz vein assay returned values up to 15.3 g/t Au and 7.5 g/t Au

• Recent surface field mapping confirmed ferruginous gossanous rock chip assay returned 5.0 g/t Au, 16.7 g/t Ag and 2.7% Cu

• Mineralisation system is 1-2m wide and extends up to approximately 600m giving a total strike length of 2.1 km

Refer to slide 20 for further information with respect to Thor Mining plc’s results.

==> picture [482 x 357] intentionally omitted <==

www.metalsgrove.com.au

Page 12

Box Hole Prospect: Rare Earth and Base Metals

• CSIRO generated 3D geological model was developed to assist exploration targeting

• Prospective for large tonnage carbonate hosted lead-zinc mineralisation

• Style of mineralisation similar to Blendevale in the Kimberley region, WA

• Potential for neodymium and praseodymium (NdPr), which are key components of high-performance (NdFeB) magnets for Electric Vehicle (EV)

==> picture [352 x 248] intentionally omitted <==

==> picture [335 x 405] intentionally omitted <==

www.metalsgrove.com.au

Page 13

Edwards Creek Prospect: Copper-Gold

• Edwards Creek Project (EL-32420) covers 76 km²

• Newly discovered malachite stained ironstone unit returned a maximum value of 0.81% Cu

1980s CRAE drilling intersected DD80EC1: 4.5m @ 2.25% Cu, 0.11% Pb, 1.54% Zn, 0.14 g/t Au from 47m DD81EC2: 18.6m @ 0.22% Cu, 0.17% Pb, 0.49% Zn, 0.14 g/t Au from 44.3m

==> picture [411 x 412] intentionally omitted <==

www.metalsgrove.com.au

Page 14

Woodie Woodie North: Manganese

• Project: Woodie Woodie North (Ripon Hills) – Western Australia.

• Location: Situated in the East Pilbara region of Western Australia approximately 400 km south of Port Hedland and 95 km east of Marble Bar

• Access: All-weather Ripon Hills Road that ensures continued site access

• 12 DRILL READY walk-up drilling targets defined

• Well connected to existing mining infrastructure

• Surface sampling has returned several highly anomalous manganese (Mn) and cobalt (Co) assays up to 52% Mn and 540ppm Co

• Recently completed airborne magnetic survey reveals an extensive/complex magnetic corridor measuring approx. 8.0 km x 2.0 km

==> picture [355 x 429] intentionally omitted <==

www.metalsgrove.com.au

Page 15

Lithium Demand Surging

==> picture [507 x 256] intentionally omitted <==

Lithium is a key raw material for batteries, with price projected to rapidly increase in the coming years

www.metalsgrove.com.au

Page 16

Clean Energy Tech – Future is Bright

Source: https://cleanenergynews.ihsmarkit.com/research-analysis/energy-transition-demands-a-critical-minerals-supply-chain-tra.html

www.metalsgrove.com.au

Page 17

Near-Term Value Drivers

• Maiden 3,000m RC drilling program underway at the exciting Upper Coondina Lithium Project – initial holes to test the largescale Chola Target

• First results from Upper Coondina expected Q1 2023

• Bruce Prospect maiden drill program scheduled to commence near-term to test the bedrock conductor and historical pegmatite mines coming months

• Maiden drilling program planned for Woodie Woodie North Manganese Project in early 2023 to test broad conductor located along the major structural corridor

• MGA is advancing multiple high-quality critical metals projects with a strong pipeline of results to be delivered over next 6-8 months

==> picture [255 x 94] intentionally omitted <==

www.metalsgrove.com.au

Page 18

==> picture [121 x 70] intentionally omitted <==

Contact Details

REGISTERED OFFICE

6/123a Colin Street West Perth, WA 6005

CONTACT DETAILS

==> picture [20 x 17] intentionally omitted <==

==> picture [17 x 12] intentionally omitted <==

==> picture [17 x 18] intentionally omitted <==

www.metalsgrove.com.au info@metalsgrove.com.au T: +61 8 6388 2725

Share registry

AUTOMIC PTY LTD

Level 5, 191 St Georges Terrace

Perth WA 6000

==> picture [17 x 18] intentionally omitted <==

==> picture [17 x 18] intentionally omitted <==

==> picture [17 x 12] intentionally omitted <==

1300 288 664 (within Australia) +61 2 9698 5414 (international) hello@automic.com.au

ASX CODE: MGA

www.metalsgrove.com.au

References

Third party exploration results referred to in this presentation were first announced in the following ASX releases:

1. TNG Limited’s (ASX:TNG) ASX announcement “Mount Peake Resource Drilling Update” dated 8 February 2013 (referred to on slide 10).

2. Verdant Minerals Limited’s (ASX:VRM) ASX announcement “Ammaroo Resource Update March 2017” dated 15 March 2017 (referred to on slide 10).

3. Arafura Resources Limited’s (ASX:ARU) ASX announcement “Nolans Project Update” dated 11 May 2021 (referred to on slide 10).

4. KGL Resources Limited’s (ASX: KGL) ASX announcement “Resource Upgrade at Jervois Copper Project” dated 15 September 2020 (referred to on slide 10).

5. Thor Mining plc’s (ASX:THR) ASX announcement: “Mineral Resource Estimates Bonya Tungsten & Copper” (referred to on slides 10, 11 and 13).

MetalsGrove is not aware of any new information in respect of the results referenced in the above ASX announcements and that full details with respect to the third party results referred to in this presentation are included in the applicable ASX announcement.

==> picture [864 x 258] intentionally omitted <==

www.metalsgrove.com.au

Page 20