NEOMETALS LTD — Investor Presentation 2018

Jun 13, 2018

Mt Holland Lithium Project Forrestania Nickel & Gold Projects

June 2018

Hannans Strategic Plan

With support of major shareholder, leading Australian specialty metals company Neometals Ltd (ASX:NMT) Hannans is aiming to develop into a West Australian mining company via:

• Exploration success for lithium, gold and or nickel at Forrestania adjoining tenure owned by SQM, Kidman Resources Ltd and Western Areas Ltd;

• Participation in joint ventures for gold at Forrestania and lithium at Lake Johnston; and or

• Acquisition of a major project.

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Lithium – State of Play in the South West

• Tianqi, BHPB and Kidman Resources/SQM are building separate battery chemical production facilities in Kwinana.

• Neometals/Mineral Resources are considering options to build lithium chemical production facilities in either Kalgoorlie or Kwinana.

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Forrestania / Mt Holland – Lithium, Nickel and Gold

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• Forrestania / Mt Holland is now known globally as hosting a world class nickel sulphide camp, a +1M oz gold mine and one of the largest hard rock lithium deposit in the world

Year	Commodity	Geology	Comment
1988	Gold	Mineralisation associated with banded iron formations and chert within greenstone units	Mining commenced at Bounty, 1.3M oz produced
1992	Nickel	Mineralisation associated with komatiites within greenstone units	Mining commenced at Flying Fox and is ongoing
2016	Lithium	Mineralisation hosted within pegmatites	Lithium technical review commenced at Bounty and Earl Grey

• Forrestania / Mt Holland is becoming recognised as a significant future production hub for lithium following the decision by Santiago based company SQM (NYSE:SQM) the world’s largest producer of lithium to partner with ASX listed Kidman Resources Ltd to develop the Earl Grey Lithium Project

• Hannans’ project is squeezed between world class nickel mines (Flying Fox and Spotted Quoll owned by Western Areas Ltd) and a globally significant hard rock lithium project (owned by SQM and Kidman Resources Ltd)

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Mt Holland Lithium – Wealth Creation

Year	Month	Commodity	Geology	Project	Comment	KDR* Share Price	KDR* Mkt Cap	Ownership Interest in Earl Grey
2016	March	Gold	Mineralisation associated with banded iron formations and cherts within greenstone units	Mt Holland Project including Bounty and Earl Grey	Mt Holland Project acquired by Kidman Resources Ltd to focus on near term cash flow from gold for $3.5M	$0.11	$15M	100%
	April	Lithium	Mineralisation hosted within pegmatites	Mt Holland Project including Bounty and Earl Grey	Lithium technical review commenced	$0.09	$15M	100%
	December			Earl Grey	Maiden JORC resource	$0.60	$145M	100%
2017	September			Mt Holland Project	Joint venture with SQM (NYSE:SQM)	$0.83	$329M	50%
	October			Earl Grey	Scoping Study	$0.95	$362M	50%
2018	March			Earl Grey	Revised JORC resource	$2.20	$874M	50%
	May			Mt Holland	Lithium chemical refinery site location announced	$2.12	$842M	50%

• KDR refers to Kidman Resources Ltd (ASX:KDR). KDR and joint venture partner SQM own 100% of the Earl Grey lithium deposit. Hannans does not own an interest in either the Mt Holland Lithium Project or Earl Grey project referred to in this table. Hannans is exploring for lithium in the Mt Holland region. This slide shows the impact a world class discovery can have on a junior company’s market capitalisation and share price.

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Lithium – Earl Grey

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Surface expression
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• Earl Grey was historically mined for gold via an open pit - the pegmatite hosting lithium was originally intersected at ~300m depth when drilling for gold. Recent drilling by Kidman Resources Ltd has traced the pegmatite from ~300m depth all the way back to surface and in doing so Kidman Resources Ltd have uncovered a globally significant lithium deposit. The pegmatite hosting the lithium mineralisation has a strike length of ~1,400m, a width of ~750m and extends to depths of more than 300m.

• A lithium rich pegmatite also intrudes the historic +1M oz Bounty gold mine also owned by Kidman Resources Ltd.

• Hannans is aiming to identify lithium rich pegmatites close to surface (less than 100m depth) within its MHE and MHW Projects, as it doesn’t have the benefit of historic intersections of lithium rich pegmatites to use as a targeting tool for regional exploration drilling.

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Lithium – Deposit Model

• Identify granites that may be the source of the pegmatites hosting lithium mineralisation

• Identify the margin of the granite in the field via mapping or drilling

• This is important because ~4km from the margin appears to be the distance necessary to allow for cooling of the intruding pegmatites, and for differential crystallisation of exotic minerals including spodumene (an important lithium bearing mineral).

• Locate pegmatites in the field either via mapping or drilling

• Note that the Mt Holland region is covered with transported sands which can be up to 40m thick, and the region comprises thick scrub and woodlands making identification of outcrop challenging

• Log and assay pegmatites intersected in drilling to identify economic grades and widths of lithium mineralisation

• Note that grades >1% LiO2 (lithium oxide) are considered significant

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This drill core is not from within Hannans Mt Holland Project

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Mt Holland – Hannans

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Mt Holland East
Mt Holland West
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Hannans – Goal for Mt Holland Project

Hannans exploration goal at Mt Holland is to discover a lithium deposit comparable to the globally significant Earl Grey and or a +1 million ounce gold deposit comparable to Bounty – Damian Hicks, Executive Director, Hannans

I’m very familiar with this region and Hannans’ Mt Holland East project appears to be a standout . target for lithium and gold I’ve reviewed Hannans’ detailed airborne survey data and have validated the geological and structural interpretation. I recommend Hannans focus its future exploration efforts on Mt Holland East as it’s the area most likely to host a major lithium and or gold deposit . In saying that we’ve only scratched the surface at Mt Holland West so far in terms of exploration for lithium. Dr Bryan Smith, consulting geologist to Hannans. Dr Smith has over 45 years of experience in geology and geochemistry. He is a member of AusIMM, the Australian Institute of Geoscientists and the Geological Society of Australia (GSA). In 2016 Dr Smith was awarded the W.R. Browne Medal by the GSA for contributions to the geological sciences in Australia.

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Mt Holland East (MHE)

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Mt Holland East
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• MHE covers the eastern margin of the potential source granite

• to the pegmatites hosting the Earl Grey lithium mineralisation

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Mt Holland East – 1[st] Phase Targets

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Eastern Granite Dome
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Granite Dome
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• Targets zones are prospective for both lithium and gold

• Cartoon shows interpreted location of Eastern Granite Dome that may be the source of the pegmatites hosting the lithium mineralisation at Earl Grey

• Earl Grey is located ~4km from the interpreted margin of the Eastern Granite Dome

• Green line represents E-W dyke and black lines represent N-S structures interpreted from detailed airborne geophysical survey flown in January 2018

• Targets for 1st phase geochemistry (auger) drilling are based on the structural interpretation which has now been validated in the field. Subject to identification of geochemical anomalies, targets will be followed up with a 2[nd] phase of drilling (aircore)

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Mt Holland East – Introduction

Year	Month	Comment
2017	December	Lodged applications for new tenements
2018	January	Completed detailed airborne geophysical (radiometric and magnetic) survey (7,566 line kms over ~260km2)
	February	Completed mapping using orthophotos and reviewed historic exploration data
	March	Completed structural interpretation using new geophysical dataset - identified major new target zone for lithium and gold represented by the intersection of (north-south) structures and a complex (east-west) dyke system within the proximity of margins of granite plutons
	April	Completed field trip to validate structural interpretation
	May	Completed desktop flora and fauna survey
	June/July	Receive notification of grant of new tenements (pending) and commence 1st phase of shallow auger drilling to test for lithium and gold anomalism (pending)

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Historic RC drill hole located at Mt Holland East during recent field trip

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Mt Holland West (MHW)

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Photo from Phase 3 RC drilling at Hannans Mt Holland West
Project (Courtesy of Amanda Scott)
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• MHW covers the western margin of the potential source granite to the

• pegmatites hosting the Earl Grey lithium mineralisation

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Mt Holland West – Exploration to Date

19 20 21 22
	Year	Month	Comment
	2016	September	Acquired Mt Holland West Project
	2017	April	1st phase geochemistry drilling (3,093m, 240 holes to max depth of 12m)
		August	2nd phase geochemistry drill program (2,759m, 57 holes to max depth of 68m)
	2018	March	3rd phase geochemistry and geology drill program (1,866m, 16 holes to max depth of 156m)
		June/July	4th phase geochemistry drill program (RC) – drilling consists of a traverse of angled drill holes down to recognizable bed-rock to define the geology of the area surrounding the granitic intrusion. The 3rd phase of RC drilling (holes 19, 20, 21 and 22) intersected thin pegmatites with muscovite and the intention is to determine if there are additional promising pegmatites in the area.

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Forrestania Nickel – Hannans 100% Interest

• World class nickel sulphide province (controlled by Western Areas Ltd, Australia’s second largest nickel sulphide miner) hosting one of the highest grade nickel sulphide mines in the world (Flying Fox)

• Demand (and price) for nickel is increasing due to the requirement for nickel in lithium ion batteries for electric vehicles

• Hannans has postponed its joint venture process and engaged www.newexco.com

• Newexco Services ( ) to complete a review of Hannans’ Forrestania Nickel Project including the Stormbreaker and Beautiful Sunday West prospects, prior to the Company making any project level decisions

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Stormbreaker
Beautiful Sunday
West
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Forrestania Gold – Hannans 20% Free-Carried Interest

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HNR 20% Gold
Rights
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12m at 5.75 g/t Au from 59m, RC
drilling planned June/July 2018
JORC compliant resources, RC
drilling planned June/July 2018
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 Hannans is not required to fund any costs until a Decision to Mine has been made by joint venture partner Classic Minerals Ltd

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Directors & Management

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Jonathan Murray, Independent Non-Executive Chairman

• Director of Hannans Ltd (2010).

• Partner of Steinepreis Paganin

• Principal legal practice areas include equity capital markets, takeovers, project acquisitions and divestments, corporate governance, commercial law and strategy.

Markus Bachmann, Non-Executive Director

• Director of Hannans Ltd (2012).

• Corporate finance professional

• Founding partner of Craton Capital (cratoncapital.com)

• Craton Capital awarded Fund Manager of the Year at the Mining Journal’s “Outstanding Achievement Awards” during December 2010.

Clay Gordon, Non-Executive Director

• Director of Hannans (2016).

• Bachelor of Applied Science (Geology) and a Master of Science (Mineral Economics). Member of the AusIMM and AIG.

• +25 years’ experience in senior roles (operational, management and corporate) within large and small resource companies active in a range of commodities within Australia, Africa and South East Asia.

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Damian Hicks, Executive Director

• Director of Hannans Ltd (2002).

• Financial, legal and compliance qualifications.

• Principal responsibilities includes strategy formulation, team development, deal origination & execution, stakeholder relationships and capital raising

Amanda Scott, Non-Executive Director

• Director of Hannans (2016).

• Exploration Manager for Hannans Group (2008-2016).

• Consulting Geologist with 12 years experience.

• Extensive experience in the Yilgarn and Pilbara regions of Western Australia and the Caledonides and Kiruna regions of Scandinavia exploring for gold, copper, nickel, PGEs, iron and manganese.

• Responsible for generating all of Hannans projects since 2008.

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Corporate Overview

Fully paid ordinary shares	~ 1.98 billion
Options (ex 0.5 – 2.7c)	125 million
Share price	1.5 cents
Market capitalisation	~ $30 million
Top 20 holding	63%
Neometals Ltd shareholding	36%
Cash	~ $4.0 M
Debt	Nil

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Contact Details

Jonathan Murray Damian Hicks Mindy Ku Chairman Executive Director Finance & Compliance Manager +61 8 9321 4000 +61 419 930 087 +61 8 9324 3388 jmurray@steinpag.com.au damianh@hannansreward.com mindyk@corpbservives.com

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W: www.hannansreward.com @hannansreward Hannans Reward
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Important Disclaimer

This Document and the information contained herein and any presentation (collectively referred to as “Information”) is proprietary to Hannans Limited (“the Company” or “Hannans”). This Document is intended to provide general background on the Company. It is not a disclosure document and is not intended as an offer, invitation, solicitation or recommendation with respect to any potential transaction.

Securities of micro cap exploration companies, typically involve a high degree of risk and as such, any investment in the Company must be considered as purely speculative. The Information in this presentation does not purport to cover all relevant information about any potential investment in the Company. Accordingly potential investors are advised to seek appropriate independent advice, if necessary, to determine the suitability of this investment. You should not solely act in reliance on the material in this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients require in order to make an informed assessment of the Company’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy or completeness of the information, statements, and opinions contained in this presentation before deciding whether to make an investment into Hannans.

The Document contains reference to certain intentions, expectations and plans of the Company. Those intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company or any of their respective directors, employees, agents, advisers and consultants that any intentions, expectations or plans will be achieved either totally or partially or within a prescribed timeframe or that any particular rate of return will be achieved.

The Information disclosed relates to the proposed business of the Company at the date of this Document. Material information may have changed since the date the Document was compiled. No responsibility is accepted to advise any person of any change or update any of the Information.

Neither the provision of this Document nor any information contained in this Document or subsequently communicated to any person in connection with this Document is, or should be taken as, constituting the giving of investment advice to any person. By accepting this Document you acknowledge and agree to be bound by each of the foregoing statements. The currency used throughout the presentation isAustralian Dollars unless otherwise stated.

Hannans does not own any of the infrastructure in this presentation.

Competent Persons Statement

The information in this document that relates to exploration results at Mt Holland is based on information compiled by Dr Bryan Smith, a Competent Person who is a Member of the Australian Institute of Geoscientists. Dr Smith is a consultant to Hannans Ltd and its subsidiary companies. Dr Smith has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken 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 (JORC Code). Dr Smith consents to the inclusion in the report of the matters based on his information in the form and context to which it appears.

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