PTR MINERALS LTD — Investor Presentation 2022

Dec 1, 2022

PETRATHERM LIMITED ACN 106 806 884 ASX: PTR

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www.petratherm.com.au admin@petratherm.com.au

ASX ANNOUNCEMENT

02/12/2022

PTR COMPANY PRESENTATION -

Critical Minerals Portfolio Positioned for Growth

The following is a presentation by Petratherm Limited’s (ASX: PTR ), Exploration Manager, Peter Reid to the South Australian Exploration and Mineral Resource Conference, held in Adelaide today 2[nd] December 2022. The talk summarises current on ground and future exploration, latest results, and target modelling.

The Company is in a strong position with the uncovering of major high-grade rare earth occurrences at shallow depth in the Northern Gawler Craton of South Australia, with follow up drilling activities currently underway (PTR ASX release 24/11/22).

At Muckanippie, the Company is conducting work over a large anorthosite complex which shows evidence for titanium, magnetite iron, rare earths, and phosphate (PTR ASX release 14/11/22).

In addition, PTR has a strong Iron-Oxide Copper-Gold (IOCG) Project Portfolio in the heartland of the World-Class Olympic Domain of South Australia close to operating mines and recent major discoveries. Targeting work has defined several compelling IOCG targets which PTR anticipates will be drilled in the first half of the 2023 calendar period (PTR ASX release 28/10/22).

This ASX announcement has been approved by Petratherm’s Board of Directors and authorised for release by Petratherm’s Chairman Derek Carter.

For further information contact :

Peter Reid (Exploration Manager) Tel: 0435 181 705 E: preid@petratherm.com.au

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www.petratherm.com.au

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CRITICAL MINERALS PORTFOLIO POSITIONED FOR GROWTH

South Australian Exploration & Mining Conference 2 December 2022

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ASX: PTR
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COMPLIANCE STATEMENTS

Disclaimer::

This presentation has been prepared by Petratherm Limited (Petratherm). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Petratherm has no reason to believe that it is not accurate, reliable or complete, it may not have been independently audited or verified by Petratherm.

Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Petratherm. In particular, they speak only as of the date of this document, they assume the success of Petratherm’s strategies and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (“Recipients”) are cautioned not to place undue reliance on such forward-looking statements.

Petratherm makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Petratherm and its officers, employees, related bodies corporate and agents (“Agents”) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Petratherm and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. All amounts are in Australian dollars (AUD) unless stated otherwise.

JORC Information:

Further details (Including JORC 2012 Code Reporting Tables, where applicable) for the information included in this Presentation can be found in the following Petratherm Limited announcements previously lodged with the ASX:

• Gravity survey identifies high tenor Olympic Dam Style Targets – 12 August 2019

• Gravity Modelling Defines Olympic Dam Style Targets – 15 October 2019

• Prospective Gold Tenement Won in Competitive Bid – 18 October 2019

• Comet Project Tenement (EL 6443) Granted – 14 January 2020

• Quarterly Activities Report December 2019 – 30 January 2020

• Mabel Creek Project – Drilling Results – 12 May 2020

• Mabel Creek Project - Drilling Grant Awarded to test Olympic Dam Style Copper-Gold Targets – 25 June 2020

• • New Copper and Gold Project Acquired – 3 December 2020

• Woomera IOCG Project Acquired – 16 June 2021

• Woomera IOCG Project – Regional Gravity Targeting - 1 July 2021

• Mabel Creek Project – Results of Drilling - 27 July 2021

• Petratherm Company Presentation - 1 December 2021

• Drilling uncovers major High-Value Rare Earth Discovery at Comet in the Northern Gawler Craton – 20 April 2022

• • Arcoona IOCG Project Won in Competitive Bid – 14 July 2022

• Thick Intervals of Rare Earths Uncovered at Comet – 08 August 2022

• Successful Bid for Muckanippie Rare Earth Project – 19 August 2022

• High Grade Rare Earths Uncovered at Meteor – 29 August 2022

• New Rare Earth Areas Uncovered at Comet – 11 October 2022

• Quarterly Activities / Appendix 5B Cash Flow Report – 28 October 2022

• Muckanippie Project – Tenement Granted - 14 November 2022

• Comet Project – Rare Earth Drilling Operations – 24 November 2022

Competent Persons Statement:

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Peter Reid, who is a Competent Person, and a Member of the Australian Institute of Geoscientists. Mr Reid is not aware of any new information or data that materially affects the historical exploration results included in this report. Mr Reid is an employee of Petratherm Ltd. Mr Reid has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being 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’. Mr Reid consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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MABEL CREEK
IOCG PROJECT
COMET REE / GOLD
CAIRN HILL Fe-Cu-Au
PROJECT
AURORA TANK Au PROMINENT HILL Cu - Au
CHALLENGER Au
OLYMPIC DAM Cu-Au-U
MUCKANIPPIE
EMMIE BLUFF
Ti-Fe-P-REE PROJECT Cu-Au
OAK DAM Cu-Au
WOOMERA & CARRAPATEENA Cu - Au
ARCOONA
PUNT HILL Cu - Au
IOCG
PROJECTS
HILLSIDE Cu - Au
Adelaide
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PROJECTS OVERVIEW

A STRATEGIC PACKAGE OF REEs, COPPER & GOLD

Comet REE & Gold Project, S.A.

• Exceptional REE drill intercepts over large areas

• Drill ready advanced Gold Prospects

• Meteor REE Prospect – Nov/Dec 2022 infill drilling towards defining a JORC Resource

Woomera & Arcoona IOCG Projects

• Close to the Emmie Bluff IOCG discovery and other IOCG mineralisation

• 2 Major IOCG styles of mineralisation targeted + Stratabound Cu-Au-Co in cover

• High calibre drill ready gravity targets – Drilling scheduled for Early 2023

Mabel Creek IOCG Project

• Large land holding over the northern Olympic Dam Copper-Gold Province

• Drilling to date has defined 2 IOCG Mineral Alteration Systems requiring follow-up

Muckanippie REE Project

• Major differentiated layered Intrusive Complex with abundant Ti-Fe-P2O5, REE anomalism

• Early-Stage Project with ground works to begin early 2023

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COMET REE PROJECT

APRIL 2022 - DRILLING UNCOVERS RARE EARTHS

		High Value
Hole	Interval `	Magnet Rare Earths*
703	3m @ 2,819 ppm TREO from 15m - 18m (EOH)	743 ppm
704	3m @ 2,660 ppm TREO from 15m - 18m (EOH)	702 ppm
590	3m @ 2,701 ppm TREO from 15m - 18m (EOH)	1,016 ppm
799	3m @ 1,813 ppm TREO from 12m - 15m (EOH)	456 ppm
931	3m @ 1,705 ppm TREO from 12m - 15m (EOH)	382 ppm
T14_RC10	4m @ 3,042 ppm TREO from 36m - 40m	814 ppm

• (* Magnet Rare Earths = Pr6O11, Nd2O3, Tb4O7 & Dy2O3)

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New Tenement
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COMET REE PROJECT

June-July 2022 – FOLLOW UP AIR CORE DRILLING

• 330 drill holes completed - average hole depth of 30 metres.

• Drill spacing 200 metre by 200 metre grid

DRILL RESULTS

• High-Grade REE Mineralisation encountered at METEOR , AREA 1 and SOUTHERN . TREO up to 4,000 ppm recorded

• Mineralisation typically starts at Shallow Depth - 3-12 metres

• Thick Intercepts from 6 metres to 27 metres

• High-Grade Mineralised Zones occur over Significant Areas providing good size potential

• High-value Scandium Oxide Credits up to 111 ppm.

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COMET RARE EARTH PROJECT
PHASE ONE DRILL RESULTS
1000 – 4000 PPM TREO
750 – 1000 PPM TREO
350 – 750 PPM TREO
0 – 350 PPM TREO
0 2500 5000
Metres
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METEOR REE PROSPECT SUMMARY OF DRILLING RESULTS

• High-Grade REE Prospect (> 1000 ppm TREO). High MREO content = 25%

• Mineralisation Starts at Shallow Depth 3-6m

• Ore thickness ranges from 3 to 24m and averages 9-12m.

• Main Prospect currently 1200m by 700m, with other satellite bodies evident and is open on west side.

• InfillDrillingNov/Dec2022

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0m 500m 1000m
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Meteor – W-E Cross Section - High Grade Mineralisation

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Meteor – S-N Cross Section - High Grade Mineralisation Meteor – N-S Cross Section - High Grade Mineralisation

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METEOR - REE SOURCE ROCKS Primary REE Mineralisation Potential

• High Magnetic Relief Rocks – Layered Mafic Intrusion

• Diorite with significant rare earth bearing Apatite -Titanite minerals present. Up to 2% Apatite by volume estimated from optical microscopy.

• May be an equivalent aged intrusion to the Muckanippie Anorthosite Complex?

Drilling of Basement Sequence at Meteor in December totestforPrimaryREEs!

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REE Apatite
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Photomicrograph from drill hole 22ACCR188 (30-32 metres depth). Actinolite (green) and biotite (brown) Note the significant number of small preserved primary apatite crystals ~ 2% of volume (colourless, high relief, stumpy prismatic crystal form).

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COMET REE PROJECT

SIGNIFICANT GROUND POSTION

• Strong ground position in the Northern Gawler Craton, .

• totalling 1,915 Km[2]

 Regional drilling activities to date have tested 130 km[2] , which is just 7 % of the total Project Holding.

 Substantial upside potential for additional new REE discoveries to be made in the surrounding un-explored tenure.

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EL 6443
METEOR
EL 6818
REE 1
EL 6816
Southern
EL 6633
EL 6633
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MUCKANIPPIE PROJECT

PROSPECTIVE ANORTHOSITE INTRUSION

• New Project over centre of the highly prospective Anorthosite won a

• Muckanippie Complex through competitive bid

• Globally anorthosite complexes are a major source of Ti-Fe-P-V ores with some including high

• concentrations of rare earths

• Adelaide to Darwin railway 40 kilometres east of project area offers low-cost connection to markets

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Comet Project
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Muckanippie Project
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Legend
REE Prospect
Malbooma
Titanium
Prospect
Gold Prospect
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MUCKANIPPIE PROJECT

PROSPECTIVE ANORTHOSITE INTRUSION

• Historic drilling of mafic fraction includes substantial Ti-Fe mineralisation and Phosphate potential. Titanium grades up to 10.5 % TiO2 recorded.

• Known mineralization extends from 4 metres to 130 metres depth and remains open. Sparsely drilled and follows a body of approximately 2 kilometres length

• Sampling of historic drill core has additionally areas of anomalous rare earths

• highlighted up to 1000 Total Rare Earth Oxide in the ppm (TREO) .

• overlying clay profile

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TREO PPM in Clay
800 - 1000
TA001 - 94m @ 6.4% TiO2, 24.8% Fe fr 56m
inc. - 12m @ 7.1% TiO2,28.2% Fe fr 100m 650 - 800
500 - 650
TA002 - 40m @ 5.5% TiO2, 23.7% Fe fr 4m
and - 86m @ 5.7% TiO2, 23.7% Fe fr 64m
inc. - 10m @ 7.2% TiO2,23.1% Fe fr 140m
TCP01 - 39m @ 8.7% TiO2 + 22.1% Fe fr 55m
inc. - 10m @ 10.5% TiO2 + 22.7% Fe fr 70m
+ Petrographic description - 7-10% apatite
(rock phosphate) in rock mass
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WOOMERA & ARCOONA IOCG PROJECTS

HIGHLY PRIZED TENURE – IOCG HEARTLAND

WOOMERA (EL6707)

• Multiple high priority gravity targets – 3 Target Styles !

• Native Title Mining Exploration Agreement Completed June 2022

• Drilling of targets scheduled from Q2 2022

ARCOONA (EL6854)

• One of the last areas where no detailed gravity has been undertaken to explore for IOCG’s

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Cocky Swamp
OAK DAM WEST
–
Woomera
Defence
Continuous
WINJABBIE
Use Zone
EMMIE BLUFF
DEEPS
WOOMERA
EL 6707
STRATABOUND
TARGETS
Khamsin
Fremantle
Doctor
CARRAPATEENA
STYLE TARGET
CARRAPATEENA
ARCOONA
EL 6854
Lucas Hill
PUNT HILL
MT GUNSON
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Residual Gravity Image Olympic Domain

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Target 3
WJD1- 62m @ 0.33% Cu
Stratabound Cu-
(int. 864-926m)
07WJ01- 42m @ 0.34% Cu (int. 824-926m)
Au-Co recorded
Inc. 9m @ 0.8% Cu from 824m
in Cover Too !
SAE11- 94m @ 0.21% Cu (int. 1005-1099m)
inc. 7m @ 0.48% Cu from 1006m
inc. 9m @ 0.52% Cu from 1086m
and
WJE Prospect
42m @ 0.28% Cu (Int. 1123-1165m)
(IOCG Alt. - inc.
inc. 5m @ 1.1% Cu from 1160m
3m @ 1.6 % Cu
from 824m)
Woomera – Defence
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WOOMERA IOCG PROJECT

3 Distinct Styles of Mineralisation !

• Target 1 - IOCG Breccia Bodies – Cu-Au-Ag-U (i.e. Olympic Dam / Carrapateena / Oak Dam & Prominent Hill)

• Target 2 - Stratabound IOCG’s – Cu-Au-Co (i.e. Emmie Bluff Deeps, Punt Hill & Hillside)

• Target 3 - Stratabound Cu-Au-Co in overlying cover rocks (i.e. Mt Gunson & Emmie Bluff – potentially remobilised from IOCG basement below !)

Significant historical IOCG copper intersections adjacent to Petratherm’s Woomera Exploration Licence Area overlain on a Residual Gravity Image. High gravity areas may indicate zones of stratabound and breccia mineralization

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WOOMERA IOCG PROJECT – TARGET 1 COMPARISON WITH CARAPATEENA

• Target 1 is an IOCG Breccia Body Target – Displays a Comparable gravity response to the Carrapateena Orebody !

• Steep gravity gradient on

west side of Target 1 may indicate additional shallow Stratabound mineralisation in the overlying cover strata. ( i.e. Emmie Bluff, Mt Gunson Style Cu-Au-Co mineralisation potential also!)

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Target Style 3
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TARGET STYLE 2 : STRATABOUND IOCGs – A Potential Game Changer!

Punt Hill IOCG (Red Metals ASX: RDM)

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NW trending gravity high (ridge) defines extent of the mineralization/alteration

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= Cu Prospect
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Punt Hill Residual Gravity Image (Source: SA. Govt - SARIG)

i.e. GHDD6 - 159m @ 0.47%Cu, 0.12g/t Au & 5.3g/t Ag, from 846m. PHDD1402 - 26m @ 1.0 % Cu, 0.23 g/t Au & 8.5 g/t Ag from 969m

Emmie Bluff Deeps (Coda Minerals ASX:COD)

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Figure by Ivanhoe, 2020.
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Source: Coda Minerals 06/10/2021 ASX release.

Widespread Evidence for Regional Scale “ Stratabound IOCG ” Copper Mineralisation across the Olympic Domain

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TARGET STYLE 2: STRATABOUND IOCGs – WOOMERA PROJECT TARGETS

Gravity Profile Modelling highlights several Stratabound IOCG on Gravity Targets the Woomera Project Area displaying higher magnitudes than the Winjabbie Anomaly

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Woomera Project
Stratabound IOCG Targets
(3.30 g/ccm)
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PETRATHERM: FORWARD PROGRAM ACTIVE GROUND CAMPAIGN for 2023

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COMET RARE EARTHS – Infill Prospect and Exploration Drilling / Metallurgical Recovery Studies

WOOMERA / ARCOONA COPPER-GOLD - Deep Drilling of Multiple IOCG Targets at Woomera & Geophysical Targeting at Arcoona.

MUCKANIPPE Ti-Fe-P-REEs – Geophysical Surveying and Drill Testing of Targets MABEL CREEK COPPER-GOLD – Large scale SQUID EM Surveying of Gravity/Magnetic Targets

Petratherm Senior Project Geologist, Michael Beven, inspecting saprolite clay profile samples, Comet REE Drilling

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ASX: PTR 18
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