Prairie Mining Ltd. — Investor Presentation 2021

Oct 12, 2021

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Powering the Energy Transformation through Copper Exploration

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Prairie Mining Limited ASX | LSE | WSE: PDZ October 2021

ABN: 23 008 677 852

INTRODUCING THE ARCTIC RIFT COPPER (ARC) PROJECT IN GREENLAND

Transaction transforms Prairie into a clean-tech metals exploration company on the path to “net-zero”

First Mover Position

New, highly prospective, large-scale metallogenic province

World Class Potential

Indications of an extensive mineral system but virtually unexplored

Proof of Concept

Widespread high-grade copper occurrences at surface within large 5,774km2 license area

Successful Track Record

Highly experienced exploration team with track record of success in Greenland

Greenland Advantage

Excellent mining jurisdiction attracting increased attention

Near-term Milestones

Near-term delineation of drill ready targets with high probability of multiple discoveries

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Prairie will earn an 80% interest in ARC by spending A$10m on the Project within five years

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PRAIRIE’S MOVE INTO COPPER IS WELL-TIMED & MEASURED

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Copper demand rising Integral component for nearly all new technology paving the way to net-zero emissions

Copper supply in deficit Copper consumption in the next 25 years will be more than has ever been mined - new mines must open

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There is no decarbonisation without copper

Goldman Sachs Global Investment Research May 2021

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Discoveries few and far between

Few major new copper discoveries in the past six years as production remains stagnant

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ARC HAS POTENTIAL TO HOST WORLD-CLASS COPPER DEPOSITS

Widespread copper at surface

• 80% of stream sediment samples contained native copper

• Native copper - clasts weighing up to 1 kg+

• High grade copper sulphides – in breccias and sediments

Geological similarities to largest known copper systems

• ARC extensive mineral system known to be prospective for basalt, fault, and sediment-hosted copper mineralisation

• Sediment-hosted copper analogous to:

• ➢ the Katangan Basin (‘Copperbelt’),

• ➢ the Zechstein (‘European Kupferschiefer’)

• Native copper analogous to:

• ➢ Keenenaw Peninsula (Michigan)

• ➢ Kennecott (Alaska)

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Sample assay results across ARC

Native copper sample from ARC

➢ 53.8% Cu & 2,480 g/t Ag ➢ 7.9% Cu & 53g/t Ag ➢ 20.7% Cu & 488g/t Ag ➢ 5.3% Cu & 112g/t Ag ➢ 12.5% Cu & 385g/t Ag ➢ 5.0% Cu & 304g/t Ag ➢ 9.0% Cu & 112g/t Ag ➢ 4.0% Cu & 82g/t Ag

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GREENLAND IS ONE OF THE LAST GREAT FRONTIER MINERAL PROVINCES

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Highly prospective but under-explored

Attracting increased exploration investment interest Transparent regulatory environment

Competitive fiscal environment

Billionaire-backed mining firm to seek electric vehicle metals in Greenland

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- Reuters August 2021
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TEAM’S PROVEN ABILITY TO UNLOCK GREENLAND’S MINERAL POTENTIAL

• :

• Greenfields Exploration (GEX) to act as project managers Highly qualified team led by GEX founder and principal exploration geologist, Dr Jonathan Bell

• Extensive operating experience: Working in Greenland since 2017, with demonstrated expertise across exploration and logistics managing the Frontier Project as part of the JV with ASX-listed IGO Ltd (ASX:IGO)

• Award winning team: GEX awarded “2019 Greenlandic Prospector and Developer of the Year”

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“Greenfields Exploration's projects…the quality and methods of exploration, attitude towards high-quality data...ability to attract investment left no doubts or questions to be recognized by the Government of Greenland.”

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Note: Images not from within ARC Project area

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UTILISING CUTTING-EDGE 4D MINERAL SYSTEMS ANALYSIS…

Exploration targeting through rigorous conceptual model of how mineral endowment is concentrated within geological systems

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Geophysics

Geochemistry

Airborne gravity, 310 rock chip, trench magnetics and & grab samples electro-magnetics (c2010-11) defining the Minik 145 rock chip samples Anomaly (c1979-80) 94 stream sediment samples (c1993-94)

Mapping

1:100,000 detail + Greenfields additional interpretation

Lab work

Microprobe analysis XRD analysis Organic carbon analysis

Photography

Airborne vertical and oblique Satellite imagery

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…DEFINED AN ENTIRE NEW METALLOGENIC PROVINCE

Major re-think of geological interpretation and metallogenesis of North Greenland

Cutting edge science to whittle down search area by 4 orders of magnitude and define priority targets

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60,000km [2]
Oxidation boundary
6,000km [2]
Geophysics & geochemistry
Minik
Anomaly
640km [2]
Discovery Zone 6km [2]
Zig Zag Formation ?
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MINIK ANOMALY WILL BE KEY FOCUS OF FIRST FIELD CAMPAIGN

~640km[2] area with nearterm discovery potential for multiple copper deposits Highest copper grades proximal to coincident gravity, conductivity and magnetic anomalies Hosts the most advanced prospect within ARC – the Discovery Zone

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DISCOVERY ZONE: COPPER PROSPECT DEFINED WITHIN MINIK ANOMALY

Discovery Zone comprises three parallel breccia faults trending NW-SE, with the furthest faults being ~2km apart

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Faults are traced for a minimum of 2km along strike before they disappear underneath moraine (cover)
• Discovery Zone is open in both directions
Sediment-hosted Breccia bound “Black Earth”
Comprises lenses and blebs Occurs in thin quartz- Unconsolidated materials
of chalcocite and bornite dominated veining within containing high grades of
measuring from mm-scale the fault breccia and copper and silver.
to 15cm long contains disseminated 2.15% Cu & 35.5g/t Ag over
copper sulphides 4.5m true width reported
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ZIG ZAG FORMATION: NATIVE COPPER IN FLOOD BASALTS

A 1.3km thick, >10,000km[2] flood basalt intercalated with sediments. Widespread native copper

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1kg+ individual clasts of native copper discovered

3.17% Cu from chalcocite filled vesicles

Note: sample is ~4cm in width and comes from outside ARC licence

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ARC’S CLOSEST ANALOGUE – THE PROLIFIC UPPER PENINSULA, MICHIGAN

• 16Mt Cu

• Copper sulphides in sediments • Analogous to the White Pine deposit model

• • A pre-mining endowment of ~7Mt of copper sulphides

• Native copper in basalts • Analogous to the Keweenaw Peninsula

• • a pre-mining endowment of ~9Mt of native copper

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INNOVATIVE EXPLORATION PLAN TO CREATE NEAR-TERM VALUE

Initial exploration program creates the potential for multiple discoveries…

Reanalysis of 311 historical samples using comprehensive, 1 modern analysis methods

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Widespread geochem sampling campaign. Rock samples collected using handheld core drilling

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Ground geophysical surveys including passive seismic & 3D induced polarisation

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High-resolution satellite mapping using cutting edge 5 technology

3D modelling & high probability drill target generation

Low environmental impact exploration program

Use of modern prospect generation techniques

Low cost, high impact exploration technology

Unlocking Greenland's mineral potential safely and respectfully

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EARNING INTO ARC BENEFITS PRAIRIE SHAREHOLDERS

1 Low dilution entry point into the Energy Transformation via European focused copper exploration

2 Large concession area within newly recognized metallogenic province that remains virtually unexplored

3 Early-stage discovery potential with proof of concept of multiple deposit types and styles 4 Greenland – a mining friendly jurisdiction attracting significant investment

5 Extremely low environmental impact due to low biological density and minimal competing land-use

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IMPORTANT NOTICES

Forward Looking Statements

This presentation may include forward-looking statements. These forward-looking statements are based on Prairie Mining Limited’s (Prairie) expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Prairie, which could cause actual results to differ materially from such statements. Prairie makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

This presentation has been authorised for release by the Company’s Chief Executive Officer, Mr Ben Stoikovich

Cautionary Statements & Important

Information

This presentation has been prepared by Prairie as a summary only, and does not contain all information about Prairie’s assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to Prairie’s securities. Any investment in Prairie should be considered speculative and there is no guarantee that they will make a return on capital invested, that dividends would be paid, or that there will be an increase in the value of the investment in the future. Prairie does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Recipients of this presentation should carefully consider whether the securities issued by Apollo Minerals are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position.

Competent Persons Statement

The information in this presentation that relates to Exploration Results for the Arc Rift Copper Project is extracted from the ASX announcement dated 6 October 2021. Which is available to view at www.pdz.com.au.

Prairie confirms that (a) it is not aware of any new information or data that materially affects the information included in the original announcements; (b) all material assumptions and technical parameters underpinning the content in the relevant announcements continue to apply and have not materially changed; and (c) the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcement.

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Appendices

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PRAIRIE WILL EARN AN INTEREST OF UP TO 80% IN ARC

Milestone Terms Cumulative Expenditure Interest Timeframe	FIRST EARN-IN MILESTONE Prairie to spend A$3.5m on ARC A$3.5m 51% Within three years	SECOND EARN-IN MILESTONE Prairie to spend a further A$3.5m on ARC A$7.0m Additional 19% taking total interest to 70% Four years	THIRD EARN-IN MILESTONE Prairie to spend a further A$3.0m on ARC A$10.0m Additional 10% taking total interest to 80% Five years	POST THIRD EARN-IN Each Party must contribute on a pro-rata basis N/A If a party dilutes below 10%, its interest in ARC converts to a 1.75% NSR N/A

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“GREEN COPPER” IS VITAL TO POWERING CLEAN TECH

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Wind turbines
• Wind energy sector expected to account for 7.0
20% of green copper demand +600%
✓ Generator • Copper usage set to grow significantly with
✓ Cables
offshore projects requiring double the 6.0
copper of their onshore counterparts
Electric vehicles 5.0
✓ Charging station • EV copper usage is 5x that of petrol or diesel
✓ Cables vehicles
✓ Battery • By 2030, electric vehicle production will 4.0
✓ Motor account for 40% of green copper demand
Solar panels • Performance and efficiency of photovoltaic 3.0
panels is heavily reliant on copper
✓✓ PV cellsCables • Lower future solar panel manufacturing and 2.0
installation costs will drive green copper
demand
1.0
Energy storage
• Copper will be key for grid energy storage
✓ Current collector systems representing a key upside risk for 0.0
2020 2021E 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E
future demand
Solar Wind EV Charging Points
Global Demand (Mt Copper)
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