ORBMINCO LIMITED — Investor Presentation 2017

Dec 6, 2017

Ausroc Metals Ltd to be renamed Woomera Mining Limited Exploring the highly prospective Gawler Craton and Musgrave Province in South Australia and extensive lithium tenement portfolio in Western Australia

December 2017

Important Notice

This Presentation

The information in this presentation ( Presentation ) has been prepared by Ausroc Metals Ltd ( Company ).

The mineral tenements of the Company as described in this Presentation ( Tenements ) are at various stages of exploration, and potential investors should understand that mineral exploration and development are high risk undertakings. There can be no assurance that exploration of the Tenements, or any other tenements that may be acquired in the future, will result in the discovery of economic ore deposits.

General Information Only

This Presentation provides general information to assist you with your own evaluation of the Company’s exploration assets. This Presentation is not, and is not intended to be, advice on legal, financial, taxation or investment matters nor is it intended to be financial product advice from the Company or any of its directors, employees, agents or advisers.

We are not responsible for any errors in or omissions from the Presentation, whether arising out of its negligence or otherwise. We make no representation or warranty, express or implied that the Presentation is accurate, reliable or complete; or is sufficient or appropriate for your purposes or contains all of the information that a prospective investor may require. You should not rely on the information in this Presentation. We have no duty of care to you or your advisors for the Presentation or anything in it. We are not responsible to you or anyone else for any loss (however caused, including as a result of our negligence) you or anyone else may suffer or incur if you rely on the Presentation.

No Recommendation

This Presentation is not intended to be and is not a recommendation from either the Company or its directors, employees, agents or advisers regarding the Company.

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Presentation Outline

Woomera Exploration Limited (WEX) Company Outline -Re-listing of Ausroc Mining Limited (to be renamed Woomera Mining Limited)

-Key Assets

Hard Rock Lithium Projects

• WEX Western Australia Lithium Tenements

• Pilgangoora Lithium Project

• Mt Cattlin Lithium Project

Lithium Brine Projects

• Lake Lithium Targets – Lakes Tay, Sharpe, Dundas, Cowan and Dumbleyung

Musgrave Alcurra-Tieyon Project

• OZ Minerals HoA

• Musgrave Alcurra – Tieyon Project Cavanagh Target

• Musgrave Alcurra – Tieyon Project Area 4 Target

• Musgrave Alcurra – Tieyon Project Area 7 Target

Gawler Craton

• Carulinia IOCG Project

• Labryinth CU-Ni Project

• Nawa Domain IOCG Project

Appendices

1. WEX South Australian Tenement Schedule

2. WEX Company History

3. Supplementary Slides

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WEX Company Outline

Woomera Exploration Limited (“WEX”)

WEX is an unlisted Australian Exploration Company based in Adelaide, South Australia.

WEX has an extensive tenement portfolio:

• An extensive lithium tenement portfolio consisting of eight granted tenements and two tenement applications at Pilgangoora (Indicated and Inferred Resource of 156.3Mt grading 1.25%Li2O), at Mt Cattlin (Resource of 16.0Mt @ 1.08% Li2O) and at several prospective lithium brine prospects throughout Western Australia

• 4 tenements (1 Exploration Licence ( “EL” ) , 2 Subsequent Exploration Licence Applications ( “SELA” ) and 1 Exploration Licence Application (“ ELA ”)) in the Musgrave Province of South Australia with several drill-ready Cu-Ni-Co-PGE and Au-Ag targets that are under a binding HoA with OZ Minerals.

• 5 tenements (3 SELAs and 2 ELAs) in the Gawler Craton in South Australia that are prospective for IOCG±U deposits (iron-oxide-copper-gold-uranium), Cu-Ni-Co deposits (Nebo Babel style), precious metal deposits and rare earth mineral deposits

• Experienced Board and Management

Much of WEX’s South Australian ground has historically fallen under the Woomera Prohibited Area – a huge area of South Australia quarantined for military purposes for over fifty years and only recently opened up for mineral exploration. The area and near surrounds host major mineral deposits including Olympic Dam, Carrapateena and Prominent Hill.

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Re-listing of AUSROC Metals Limited (to be renamed Woomera Mining Limited)

• WEX to acquire 100% of Volt Lithium Pty Ltd and Liquid Lithium Pty Ltd

• Ausroc Metals Limited to acquire Woomera Exploration Limited (WEX)

• Prospectus lodged on 5 December 2017 with anticipated readmission to official quotation on 1 March 2018

• Offer is for a maximum of 35,000,000 New Shares at an issue price of $0.20 per New Share

• Maximum shares on issue on completion of the Acquisitions and re-listing on the Official List 127,272,833

Company Structure on Re-admission to ASX

Ausroc Metals Limited (to be renamed Woomera Mining Limited)

Woomera Exploration Limited

Norsa Exploration Pty Ltd

Volt Lithium Pty Lt d

Liquid Lithium Pty Ltd

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Woomera Mining Limited Capital Structure on Re-Listing

Key Offer Details	Minimum Subscription	Maximum Subscription
ExistingShares	6,095,761	6,095,761
Other sharesper ARK restructure	11,667,613	11,667,613
WEX Vendor shares	68,259,459	68,259,459
Volt Lithium Vendor shares	3,125,000	3,125,000
Liquid Lithium Vendor shares	3,125,000	3,125,000
New IPO Shares	20,000,000	35,000,000
Total Shares	112,272,833	127,272,833
Cash after listing*	$3,339,257	$6,063,857
Market Capitalisation@$0.20	$22,454,566	$25,454,566
Max. total $0.20 Options at Completion	17,332,835	17,332,835

• Estimated cash net of re-listing and Acquisition costs

Director Shareholding	Shares Held	% Minimum Subscription	% Maximum Subscription
David Lindh	16,847,167	15.01%	13.24%
Neville Martin	11,653,338	10.38%	9.16%
Donald Triggs	8,240,401	7.34%	6.47%
Gerard Anderson	1,334,500	1.19%	1.05%
Joseph Fekete	-	n/a	n/a

19 Tenements - Musgrave Province, Gawler Craton, West Pilbara and SE Yilgarn tenements - numerous drill-ready targets

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• PILGANGOORA LITHIUM PROJECT - three tenements along the same structure controlling several major hard rock pegmatite deposits

• MT CATTLIN LITHIUM PROJECT – Tenements around 16Mt Mt Mount Cattlin Lithium Tantalum deposit

• LAKES LITHIUM PROJECTS – tenements over Lakes Tay, Sharpe, Dundas, Cowan and Dumbleyung

• MUSGRAVE ALCURRA-TIEYON PROJECT – Binding HoA with Oz Minerals.

• GAWLER CRATON - Coincident gravity and magnetic anomalies at Carulinia, Labryinth and Nawa to be drill tested

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Pilbara and SE Yilgarn Lithium Tenements

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• WEX has an agreement to acquire 100% of the issued capital in Volt Lithium Pty Ltd and Liquid Lithium Pty Ltd to secure 10 lithium tenements in WA

• Pilbara tenements in the Pilgangoora province which hosts several major hard rock lithium deposits

• Ravensthorpe tenements close to the Mt Cattlin spodumene mine

• Tenements covering lakes Tay, Sharpe, Dundas, Cowan, Dumbleyung that have been identified by Geoscience Australia for their high concentrations of lithium in brine

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Pilbara Hard Rock Lithium Tenements

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Pilgangoora Hard Rock Lithium Project

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• WEX’s tenements lie in the same granitoid complex that hosts several major lithium deposits including Pilbara Mineral’s Pilgangoora deposit (156.3Mt @ 1.25% Li2O).

• Northern tenements are on a highly fractured NE trending structural corridor (the Wodgina-Strelley lineament) where the monzogranites have locally abundant pegmatites

• Wodgina-Strelley Lineament – passes directly through tenements

• South west of WEXs tenements along Wodgina-Strelley lineament is the Wodgina lithium deposit (120Mt @ 1.28% Li2O) and east is Altura Mining (40.3Mt @ 1.0% Li2O))

• Southern tenement is on the edge of the east Pilbara granite greenstone terrane known for rare earth mineralised pegmatites

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Mount Cattlin Hard Rock Lithium Project

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• In the same volcanic province that hosts the Mount Cattlin spodumene mine owned by Galaxy Lithium Australia Ltd

• Mt Cattlin deposit 16Mt @ 1.08% Li2O and 149 ppm Ta O 2 5

• Cross cutting faults and shear zone similar to Mt Cattlin

• Not previously explored for Lithium

• Also prospective for gold and base metals

Mount Cattlin tenements with geology and neighbouring tenement holders

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Lakes Lithium Brine Projects

Geoscience Australia identified seven key factors required for the development of lithiumrich brines , namely:

• Arid climate ✓

• Closed basin✓

• Tectonically driven subsidence ✓

• Associated igneous or geothermal activity ✓

• Suitable lithium source rocks ✓

• One or more adequate aquifers ✓

• Sufficient time to concentrate a brine ✓

WEX has 5 tenements located over lakes Tay (lithium values 50x seawater) Sharpe (lithium values 50x seawater), Dundas (lithum values 90x seawater) , Cowan (lithium values 90x seawater) and Dumbleyung (surrounded by felsic rocks) all possessing the key factors needed for the development of lithium-rich brines

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Musgrave Alcurra-Tieyon Project

Four tenements covering 3,063 km[2] - prospective for nickel, copper, cobalt, gold, silver-lead-zinc, platinum group elements (PGE) and rare earths.

Adelaide to Darwin railway and Stuart Highway pass through the tenements

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Musgrave Alcurra-Tieyon Project Tenements

• Numerous drill ready targets identified from geophysics and government drilling

• Highly anomalous silvercopper-zinc-antimony rock samples reported in GSSA 2014 field study

• Recent discoveries in western Musgrave: Nebo-Babel (203Mt @ 0.41% Ni 0.42% Cu) and Wingellina (187 Mt @ 1% Ni )

• Musgrave Province – the least studied of Australia’s Proterozoic Provinces.

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Musgrave Alcurra-Tieyon Project OZ Minerals HoA

On 12 September 2017, WEX entered into a binding heads of agreement with OZ Exploration Pty Ltd (ACN 137 626 914) ( OZ Exploration ) (a wholly owned subsidiary of ASX listed OZ Minerals Limited (ASX:OZL)) covering WEX’s granted tenements and tenement applications tenements in the Musgrave Province in South Australia. OZ Minerals HOA is conditional on the execution of a Native Title Mining Agreement ( NTMA ) with the Tjayiwara Unmuru.

The key terms of the OZ Minerals HOA are as follows:

• Stage 1 Commitment – within 12 months after signing a NTMA , OZ to fund exploration which

• will be managed by WEX and will consist of detailed ground EM and the drilling of 3,850m RC drilling of seven of the 12 targets identified thus far.

• Stage 2 Commitment – OZ Exploration may elect to fund $2,500,000 of exploration expenditure

• (inclusive of the Stage 1 Commitment expenditure) within 18 months. When OZ Exploration has met its Stage 2 Commitment, OZ Exploration entitled to a 51% interest in the Musgrave Tenements. On Oz Exploration earning a 51% interest in the Musgrave, a joint venture will come into effect with the initial joint venture interest being: OZ Exploration 51% and WEX 49%;

• Stage 3 Commitment - Within 60 days of the commencement of the joint venture, OZ

• Exploration may elect to earn a further 24% interest in the Musgrave Tenements by spending a further $5,000,0000 on exploration within 24 months of the commencement of the joint venture. Upon meeting its Stage 3 Commitment, OZ Exploration will become entitled to hold a 75% interest in the Musgrave Tenements and the parties must execute all documents required under the South Australian Mining Act 1971 (SA) to effect such outcome.

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Musgrave Alcurra-Tieyon Project – Targets

WEX has identified 12 exploration drill targets based on historic geophysical and geochemical data. Strong evidence of extensive Giles Complex ultramafic intrusive rocks with excellent potential for Ni, Cr, Cu, Co, Au and PGE deposits.

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Vector Residual Magnetic Intensity (VRMI)

Musgrave Alurra-Tieyon Project – VRMI processing of magnetic data over Nebo-Babel reveals high quality fit

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Musgrave Alcurra-Tieyon Project – priority drill target Cavanagh (Area#2)

As with much of the project area there is strong remanent magnetism at Cavanagh together with high assay values of Ni, Cr, Co, Cu and Pd recorded in a 28m RC drill hole

TMI magnetic dipole

Magnetic field after VRMI correction

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Evidence of remanence

Modelled body with CRAE drill hole (~400m wide)

• The reverse dipole as observed in the TMI was investigated by CRAE around 1995

• Using 3D Inversion methods and VRMI filters WEX has modelled the magnetically susceptible body that causes the dipole

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Musgrave Alcurra-Tieyon Project – priority drill target Area#7

TMI magnetic field

Magnetic field after VRMI correction

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TMI 3D inversion model

VRMI 3D Inversion model

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Musgrave Alcurra-Tieyon Project – priority drill target Area#3

• First noted by RTZ in 1997 after flying four experimental EM lines.

• RTZ recommended follow up but was abandoned at the time of RTZ/CRA merger.

• Interpreted as layered ultramafic complex with potential for Ni, Cu and PGEs.

• Magnetic 3D inversion modelling allowing for remanence predicts a susceptible body at ~100m and several hundred metres in length

• Plan to follow up with more EM to delineate conductor and test with DDH.

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Airborne EM
profile (RTZ
Questem
survey 1996)
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Musgrave Alcurra-Tieyon Project – priority drill target Area#4

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TMI
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VRMI
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• Extensive area of remanently magnetised rock which when removed reveals large region of high magnetic susceptibility

• Geochemistry in TIE RC89 indicative of ultramafic intrusives – most likely Giles Complex

• Sulphides as chalcopyrite, pyrite, and pentlandite , occur within the mylonitised (re-crystalised) rock

• Larger sulphide blebs up to 0.6 mm occur in less deformed areas and consist of variable proportions of pyrite, pyrrhotite, chalcopyrite and pentlandite

Drill hole assays showing anomalous Ni, Cu, Co, Pd and Pt

Woomera Prohibited Area project locations

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WEX tenements within WPA Periodic Use Zone 2 and Defence Infrequent Use Zone.

SA Government estimates that the economic potential for the WPA for the next ten years exceeds $35 billion of developments, including iron ore, copper, gold and uranium projects.

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Gawler Craton WEX priority IOCG drill target – Carulinia Project

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Carulinia Project – coincident magnetic gravity anomalies

• Coincident magnetic/gravity anomalies similar to those at Olympic Dam and Carrapateena

• 2 km wide 14Mgal gravity anomaly

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Magnetic RTP image (left) and gravity (right) showing previous drill hole locations

• 2002 core was interpreted as being Peak & Dennison basement from 319m and Gawler Craton basement with banded quartz/feldspar/chlorite/haematite gneiss and pegmatite from 569m

• 2007 core was interpreted as Peak & Dennison from 250m

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Labyrinth Project – Copper, Gold and Rare Earths

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Reprocessed Total Magnetic
Intensity
Reversely polarised
magnetic anomaly
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VRMI Corrected
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• CRAE drilling (1988) intersected a sequence of volcanics and mafic/ultramafic rocks at 69 metres - interpreted as Wiltabbie Volcanics

• Elevated copper (max 2230 ppm) and neodymium (max 206 ppm)

• Magnetic and gravity data with advanced modelling has relocated targets for follow up drilling

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Labyrinth predicted body

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Previous drill hole (303m)) Predicted body – Magnetic
(Susceptibility (0.06 SI units)
Predicted body – Gravity
(density contrast 1.5)
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 Drilling program to test the predicted model

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Gawler Craton Nawa Domain – Geology & Drilling

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• Coincident magnetic and gravity anomalies tested by BHP in 1992 with drill hole CR9214 (264m)

• Intersected basement at 236m and terminated in Mount Woods complex which hosts Prominent Hill and Cairn Hill IOCG deposits

• Graphitic, siliceous ultramafic rocks from 236m to 240m

• Graphitic quartz magnetite unit from 240m to 254m

• Pyritic gneiss 254 to 262m (best assays 130ppm Cu, 26ppm Zn and 20ppm Pb

• Prospective for IOCG, BIF and gold deposits.

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Gawler Craton Nawa Domain – Coincident magnetic and gravity anomalies

Magnetic Anomaly

Gravity Anomaly

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Area circled in red highlights coincident magnetic and gravity anomalies

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Woomera Exploration Limited Summary

• ✓ 544 km[2] under tenure in proven Lithium provinces

• ✓ 5,966 km[2] under tenure within the highly prospective and tightly held Gawler Craton and Musgrave Province

• ✓ Experienced Board and management

• ✓ Pilgangoora and Mt Cattlin are priority lithium targets

• ✓ Binding HoA with OZ Minerals over Musgrave Alcurra-Tieyon Project

• ✓ Detailed ground EM followed by 3,850m RC drilling program targeting seven Ni-CuCo targets to commence on signing of an NTMA with the Tjayiwara Unmuru

• ✓ Drill ready IOCG exploration targets within Gawler Craton – Carulinia, Nawa and Labryinth

• ✓ Adelaide-Darwin railway and Stuart Highway run through Alcurra-Tieyon Project

• ✓ Strong long-term fundamentals for Ni, Cu, Co, Li, Au and PGE

• ✓ Exceptional demand for Lithium and Cobalt

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Appendix 1 – WEX Tenement schedule

	WEX South Australian Tenements 22 November 2017	WEX South Australian Tenements 22 November 2017	WEX South Australian Tenements 22 November 2017	WEX South Australian Tenements 22 November 2017	WEX South Australian Tenements 22 November 2017	WEX South Australian Tenements 22 November 2017	WEX South Australian Tenements 22 November 2017
	Tenement	Area (Sq. Kms)	Grant Date	Expiry	Term	Geological Province	Commodities
	EL 5113 (Subsequent ELA 2017/00182) EL 5116 (Subsequent ELA 2017/00183) EL 5040 (subsequnet ELA 2017/00155) EL 5041 (Subsequent ELA 2017/00156) EL 5042 (Subsequent ELA 2017/00157) EL 5287 ELA 2012/00119 ELA 2012/00120 ELA 2017/00139	266 459 401 768 854 503 929 848 938	29-Nov-12 29-Nov-12 11-Oct-12 1-Oct-12 11-Oct-12 25-Jun-13 Application Application Application	TBA TBA TBA TBA TBA 24-Jun-18 Application Application Application	6 6 6 6 6 5	Gawler Craton Gawler Craton Gawler Craton Musgrave Musgrave Musgrave Gawler Craton Gawler Craton Musgrave	Copper, Gold, Neodymium, Lithium Copper, Gold, Iron Copper, Gold, Silver Nickel, Copper, Cobalt, Rare Earths Nickel, Copper, Cobalt, Rare Earths Nickel, Copper, Cobalt, Rare Earths Copper, Gold, Iron Copper, Gold, Iron Nickel, Copper, Cobalt, Rare Earths
	Total Musgrave Gawler	5966 3,063 2,903

Appendix 2 – Company history

• May 2011 - the Australian Government announced the relaxing of access conditions to the Woomera Prohibited Area (WPA)

• May 2011 - Woomera Exploration registered as a private company and converted to a Public Company in July 2012

• March 2012 - Norsa Exploration Pty Ltd registered

• Oct-Nov 2012 – Woomera Exploration granted 7 Exploration Licences covering 5,155 km[2]

• June 2013 - Norsa granted 7 Exploration Licences and 2 Exploration Licence Applications covering 6,417 km[2]

• December 2014 – Woomera Exploration completed a takeover Norsa

• February 2015 - Completed technical review and surrendered ~50% of combined holding

• 16 March 2015 – Woomera Exploration granted a Resource Exploration Permit by Department of Defence

• April 2017 – signed a binding agreement to Acquire 10 Lithium tenements in Western Australia

• September 2017 signed Heads of Agreement with OZ Minerals to enter into a Joint Venture whereby OZ can earn up to 75% in the Musgrave tenements for expenditure of $7.5m

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Appendix 3 – Supplementary Slides

Experienced Directors and Management

Mr Neville Martin LLB – Chairman

• Former partner (now consultant) with law firm Minter Ellison

• Over 40 years' experience in corporate law and mining oil and gas law

• Other ASX directorships include Sundance Energy Australia Ltd and Pawnee Energy Ltd. Former Chairman of Adelaide Energy Ltd and former director of Stuart Petroleum Ltd and Austin Exploration Ltd.

Mr Gerard Anderson MSc, Grad Dip Bus – Managing Director

• Geologist with 42 years’ experience in exploration, mine and resource geology principally in iron ore, gold and base metals

• Senior management positions Boddington Gold Mine, Bronzewing Gold Mine, Kalgoorlie Consolidated Gold Mines, GM of Golden Grove Operations and Newmont Joint Ventures

• Former MD of Croesus, Centrex Metals Ltd and Archer Exploration Ltd

Mr David Lindh LLB OAM – Non-Executive Director

• consultant in corporate and commercial matters, with over 40 years’ experience as both a lawyer and a company director

• currently Chairman of Nuncannaco Science Ltd, former Chairman of Centrex Metals Ltd, former NED of ETSA Corporation, Electranet and Enterprise Energy Ltd. Former Chairman of SA Taxation Institute

Mr Donald Triggs BSc – Director Exploratiion

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• 30 years' experience consulting to the resource, utilities, and information technology sectors. Clients have included CRA/Rio Tinto, Normandy, MIM, Xstrata, Optima Energy, Telstra, Santos, New Hampton Goldfields and Mineral Deposits Limited

• Former General Manager of Primary Resources Ltd, current director of Norsa Exploration Pty Ltd

Mr Joe Fekete BB (Accounting) – Non-Executive Director

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• 20+ years in various industries including mining, advertising, wholesale retail distribution, construction & public practice

• Experienced professional in Company Secretarial work, statutory reporting, IPOs, accounting, system development, restructuring and general business management

• Current director of WOW Travel Pty Ltd; previous Director of Rail Plus Australasia Pty Ltd, Go-Connect Ltd, Brands Australia Pty Ltd and Altius Mining Ltd

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Appendix 3 – Supplementary Slides

Lakes Lithium Project – Lakes Tay and Sharpe Lithium

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• Lithium brine target

• Identified by Geoscience Australia as having Li-B-K potential

• Lithium ~ 50x sea water

• Strong K-U-Th anomaly in northern part of Lake Tay

• Previous explorers targeted Cu-Ni-Au only

Appendix 3 – Supplementary Slides

South-East Yilgarn – Lake Dundas Lithium Brine Project

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• Groundwater lithium levels over 90x those found in normal seawater

• Assigned the highest possible ranking for lithium prospectivity among Australian salt lakes by Geoscience Australia

• Also prospective for gold and potash.

Lake Dundas auger geochemical results Lithium (ppm)

Appendix 3 – Supplementary Slides

South-East Yilgarn – Lake Dundas Gold Potential

Gold assays (ppb)

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Lake Dundas Auger geochemical results

Appendix 3 - Supplementary Slides

South-East Yilgarn – Lake Dundas Lithium Brine Project

• Lake Cowan Lithium Brine Project (E15/1532)

• Assigned the highest possible lithium prospectivity ranking by Geoscience Australia, with groundwater lithium levels of over 90x those found in normal seawater

• Proximity to the Bald Hill tantalum mine owned by Alliance Mineral Assets confirming lithiumbearing source rocks in the area

• This project may be prospective for hard rock lithium in addition to lithium brine potential

• Lake Cowan is also considered prospective for gold and potash.

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Appendix 3 - Supplementary Slides

Musgrave Project – airborne magnetic data

Good quality aeromagnetic data from surveys flown by GSSA in 1993 and CRAE in 1994. Area also has good quality gravity coverage.

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Total Magnetic Intensity (TMI) images from 1993 and 1994 airborne surveys

Appendix 3 – Supplementary Slides

Musgrave Alcurra-Tieyon Project – Previous geochemical sampling

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Geochemical sample locations including anomalous silver, copper, zinc and rare earths

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Appendix 3 – Supplementary Slides

Musgrave Alcurra-Tieyon Project – priority drill target Area#7

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Area#7 model with Government RC drill holes (susceptibility isopach 0.06 SI units)

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Appendix 3 – Supplementary Slides

Musgrave Alcurra-Tieyon Project – priority drill target Area#7

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Appendix 3 – Supplementary Slides

Musgrave Project – Area#4

• Government drill hole TIE RC 89 was drilled to just 36m

• Intersected ultramafic intrusive rocks from 6m (interpreted to be Giles Complex)

• Deeper intercepts were partly re-crystalised, highly magnetic with sulphides consistent with Giles Complex

• Sulphides as chalcopyrite, pyrite, and pentlandite , occur within the mylonitised (re-crystalised) rock

• Larger sulphide blebs up to 0.6 mm occur in less deformed areas and consist of variable proportions of pyrite, pyrrhotite, chalcopyrite and pentlandite

• High grade metamorphic phase

• This remanent zone covers a large area of over 70 Sq. Kms. and extends further to the West of the GSWA magnetic data that has been used to identify the zone. If sulphide accumulation has occurred it is likely to be around the edges of the ultramafic zone and this is consistent with the observations from TIE RC 89.

• A combination of airborne EM, surface geochemical sampling and RC drilling will be required to identify the extent of mineralisation in this zone

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Appendix 3 – Supplementary Slides

Musgrave Alcurra-Tieyon Project – priority drill target Area#7

• Magnetic (green) and gravity (orange) bodies showing an accumulation of dense material on the perimeter of a magnetic core

• High density material not tested by previous drill holes

• Future drilling to target the high density shell

~1 Km

. Model produced from 3D magnetic and gravity inversion process

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Appendix 3 - Supplementary Slides

North West Gawler Craton – Nawa Domain

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• Extensive exploration area of 93,000 km²

• Previous exploration restricted to the overlying cover sequences – looking for oil, gas, coal and sedimentary hosted mineral deposits

• Virtually untouched basement

• < 1% outcropping and <60 basement intersecting diamond drill holes

• Contains sedimentary packages aged 1790-1730 Ma possible equivalent to Fraser Range

• Hiltaba aged magmatism (Olympic Dam) high potential for further IOCG type deposits

Appendix 3 - Supplementary Slides

Gawler Craton Nawa Domain – previous drilling

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• 1974 -75 BP Minerals targeted coal in the Arckaringa Basin

• 1979-82 Western Mining targeted Officer Basin Observatory Hills beds for carbonate hosted Pb-Zn deposits

• 1980-82 Meekatharra Minerals coal

• 1982-85 Comalco coal,evaporites

• 1993 DMITRE stratigraphic drilling

• 2008-10 Diatreme Resources – mineral sands

• 2008- 12 Gawler-Officer-MusgraveAmadeus (GOMA) research project

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Appendix 3 – Supplementary Slides

Gawler Craton Nawa Domain – 3D inversion mod

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WEX 3D inversion model – green: magnetic susceptibility; orange: density contrast and BHP drill hole in yellow

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Appendix 3 - Supplementary Slides

Gawler Craton Labyrinth Project Copper Gold Rare Earths + Lithium-Boron-Potassium

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Appendix 3 – Supplementary Slides

Labyrinth Lithium-Boron-Potassium Potential

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• Arid climate ✓

• Closed basin✓

• Tectonically driven subsidence ✓

• Associated igneous or geothermal activity ✓

• • Suitable lithium source rocks ✓

• • One or more adequate aquifers ✓

• • Sufficient time to concentrate a brine ✓

Geochemical sampling program to measure Li-B-K concentrations in brines and playa sediments

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Appendix 3 – Supplementary Slides

e South-East Yilgarn – Lake Dumbleyung Lithium Brine Project

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E 70/4870 geological setting showing abundance of igneous source rocks suitable for Li-K concentration