PTR MINERALS LTD — Investor Presentation 2023

Jun 20, 2023

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21 June 2023

Conference Presentation - PTR Positioned for Growth

Petratherm Limited (ASX: PTR) (PTR or the Company) is pleased to release the following presentation that Chief Executive Officer, Peter Reid, will be presenting at the RIU Gold Coast Investment Showcase on Wednesday 21 June 2023. PTR is a critical minerals explorer focused on the discovery of world-class copper-gold and rare earth (REE) deposits.

Exploration drilling at the Comet Project Area has delineated two major REE occurrences. The Meteor and Artemis REE prospects occur at very shallow depths, include high-grade blankets of mineralisation showing good lateral extent and ore thickness. Less than 10% of the project area has been explored for REE’s and a systematic program of advancement of current prospects, testing of new areas and metallurgical recovery test work is ongoing. The latest round of exploration drilling has recently been completed with with assay results due in approximately 6-8 weeks-time[1] .

PTR has several exciting copper-gold targets at its Mabel Creek and Woomera Projects located within the Olympic Copper-Gold Province. Targeting work has defined several compelling Tier 1 CopperGold targets and PTR anticipates drill testing of targets will begin from late in 2023 calendar period[2,3] .

This announcement has been authorised for release on the ASX by the Company’s Board of Directors.

ENDS

For further information: Media and Broker Contact

Peter Reid Zander Beacham Chief Executive Officer White Noise Communications preid@petratherm.com.au zander@whitenoisecomms.com 0435 181 705 0433 515 723

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 mineralisation 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.

1 PTR ASX Release 19/06/2023 – Comet Rare Earth Drilling Successfully Completed

2 PTR ASX Release 04/04/2022 – Woomera Tenement Granted – IOCG Drill Targets Defined

3 PTR ASX Release 22/05/2023 – SQUID EM Survey Generates Significant Copper-Gold Target at Mabel Creek

P +61 8 8133 5000 E admin@petratherm.com.au petratherm.com.au

PETRATHERM LIMITED ASX:PTR

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Positioned for Growth

Petratherm Limited (ASX: PTR) RIU Gold Coast Investment Showcase

June 2023

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Compliance Statements

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Disclaimer:

JORC Information and Compliance Note:

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.

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:

• 1 The purpose of the figure is to illustrate the geographical proximity only of the Project Area to other mineral occurrences and geographical locations.

• 2 Rare Earth Drilling Commences at the Comet Project – 25 May 2023

• 3 Meteor Prospect – Exceptional REE Drill Intersections – 15 February 2023

• 4 Drilling Identifies Major New REE Prospect – 24 February 2023

• 5 Comet REE Project – Drilling Update – 18 April 2023

• 6 Woomera Tenement Granted – 04 April 2022

• 7 Woomera Gravity Survey Identifies Copper-Gold Targets – 14 June 2023

• 8 Mabel Creek Project – Drilling Results – 12 May 2020

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

• 10 Squid EM Survey – Significant Copper-Gold Target – 22 May 2023

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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ASX:PTR 2
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Corporate Snapshot

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Shares on Issue Share Price (16/06/2023) Cash (31 March 2023) Options Market Capitalisation Enterprise Value
224.8M $0.075 $3.2M 1.925M $17M (undiluted) $13.8M
PTR Share Price Chart
$0.12 3,500,000
3,000,000
$0.10
2,500,000
$0.08
2,000,000
$0.06
1,500,000
$0.04
1,000,000
$0.02
500,000
$- -
Share Price (A$/Share) Volume (m)
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ASX:PTR

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Corporate Snapshot

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Board and Management With Track Record of Exploration Success

Derek Carter Non-Executive Chairman

Mr. Carter is a founder of the Minotaur group and a joint recipient of Explorer of the Year (AMEC) for the discovery of the Prominent Hill Copper Gold deposit.

He was Chairman of Highfield Resources during the discovery and evaluation of the world-class Muga deposit and has been involved with numerous Government, Industry and ASX listed Company Boards. He is current Chairman of Hillgrove Resources. He is a geologist with over 45 years Corporate and field experience.

Simon O’Loughlin Non-Executive Director

Mr. O'Loughlin is the founder of O'Loughlin's Lawyers, an Adelaide based, specialist commercial law firm.

He has extensive experience in the corporate and commercial law fields while practicing in Sydney and Adelaide, and also holds accounting qualifications. Chairman of Stellar Resources, Non-Executive Director of Chesser Resources and Orpheus Minerals.

Peter Reid Chief Executive Officer

Mr. Reid is an exploration geologist with 30 years’ experience. He was part of the Minotaur team which discovered the Prominent Hill copper-gold deposit and then later heavily involved in the successful IPO spin offs of ASX listed, Mithril Resources Ltd and Petratherm Ltd.

He was the founding CEO of Petratherm and the recipient of the Chairman’s Award for his contribution to the Australian geothermal industry.

Donald Stephens Non-Executive Director

Mr. Stephens is a Chartered Accountant and corporate advisor with over 25 years' experience in the accounting, mining and services industries, including 14 years as partner of HLB Mann Judd (SA), a firm of Chartered Accountants.

Simon Taylor Non-Executive Director

Simon Taylor is a resources industry executive with over 25 years’ experience in geology, finance and corporate management at CEO and Board levels.

Most recently, Simon was Managing Director of Oklo Resources Limited when it was acquired by B2Gold Corp in September 2022. Currently he is a Non-Executive Director of Chesser Resources, Stellar Resources and Black Canyon Resources.

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ASX:PTR

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Project Overview

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Strategic Package of REEs & Copper-Gold Projects in South Australia

Comet REE Project

• Exceptional REE drill intercepts over two prospects.

• Massive exploration upside – less than 10% of prospective area tested for REEs.

• AC drilling campaign completed at Artemis + New Areas – Assays Pending.

Muckanippie REE Project

• Major differentiated layered intrusive complex with abundant Ti-Fe-P2O5-V-REE anomalism.

• Early-stage project with initial ground works underway.

Woomera Copper-Gold Project

• Located in World-Class Copper-Gold Olympic Province.

• High calibre drill ready gravity targets – Drilling scheduled for end of 2023.

Mabel Creek Copper-Gold Project

• Large holding over the northern Olympic Copper-Gold Province.

• Drilling to date has defined two Copper-Gold Alteration Systems.

• Olympus SQUID EM/Gravity Target + Others – Drilling scheduled Oct 2023.

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ASX:PTR PTR Exploration Licences and Significant Mines/Prospects [1] 5
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Comet REE Project

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Significant Ground Position With Two REE Discoveries

• 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 <10% of the total Project Holding.

• Substantial upside potential for additional new REE discoveries in the surrounding unexplored tenure.

• Layered mafic intrusions under shallow cover drill tested for REEs – Results Pending![2]

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ASX:PTR 6
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Meteor REE Prospect

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21m @ 1071 ppm TREO
inc. 3m @ 1716 ppm TREO
24m @ 1030 ppm TREO
inc. 3m @ 2144 ppm TREO
15m @ 1117 ppm
24m @ 1594 ppm TREO
TREO inc. 3m @ 2327
inc. 6m @ 2495 ppm TREO
ppm TREO
21m @ 1266 ppm TREO
inc. 3m @ 1947 ppm
TREO
38m @ 967 ppm TREO
inc. 12m @ 1690 ppm TREO
15m @ 1264 ppm TREO
18m @ 1121 ppm TREO inc. 2m @ 2376 ppm TREO
inc. 3m @ 2350 ppm TREO inc. 2m @ 2066ppm TREO
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Summary of Results[3]

• High-Grade REE Prospect (> 1000 ppm TREO).

• High-Value MREO up to 746 ppm and average 242 ppm (26% of TREO).

• Mineralisation starts at shallow depth 3-6m.

• Mineralised intercepts up to 38m and average 11.5m.

• Main Prospect 2 km by 1 km, with other satellite bodies evident and is open in several directions.

• REE Apatite enriched source rocks below, offer additional REE targets!

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ASX:PTR 7
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Meteor – W-E Cross Section – High Grade Mineralisation[3]

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21m @ 1071 ppm TREO from 3m 24m @ 1594 ppm TREO from 6m
Inc 3m @ 1716 ppm TREO from 6m Inc 6m @ 2495 ppm TREO from 6m
6m @ 763 ppm TREO from 6m
3m @ 820 ppm TREO from 12m
20m @ 921 ppm TREO from 3m
9m @ 513 ppm TREO from 6m
9m @ 734 ppm TREO from 9m Inc 9m @ 1050 ppm TREO from 9m
21m @ 1018 ppm TREO from 3m 24m @ 1030 ppm TREO from 6m
Inc 3m @ 2086 ppm TREO from 3m Inc 3m @ 2144 ppm TREO from 9m
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ASX:PTR 8
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Artemis REE Prospect

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Summary of Results[4]

• High-Grade REE blanket >1000 ppm TREO.

• Prospect currently 1.5km by 800m

• open in all directions.

• High Value MREO intercepts - up to 609 ppm and average 221 ppm.

• High-Grade intercept thickness ranges from 12 to 32m.

• Follow-Up Drilling Completed – Assays Pending!

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24m @ 1094 ppm TREO
30m @ 1110 ppm TREO
inc. 6m @ 1573 ppm TREO
inc. 12m @ 1483 ppm TREO
27m @ 1030 ppm TREO
A’
A
13m @ 1523 ppm TREO
inc. 3m @ 2155 ppm TREO
24m @ 1105 ppm TREO
inc. 6m @ 2258 ppm TREO
32m @ 906 ppm TREO 21m @ 1001 ppm TREO
inc. 12m @ 1139 ppm TREO inc. 9m @ 1217 ppm TREO
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ASX:PTR 9
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Artemis Cross-Section A-A’[4]

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24m @ 1094 ppm TREO from 9m
Inc 6m @ 1573 ppm TREO from 15m 27m @ 1030 ppm TREO from 15m
Inc 12m @ 1408 ppm TREO from 24m
12m @ 1037 ppm TREO from 12m
12m @ 845 ppm TREO from 9m
Inc 6m @ 1437 ppm TREO from 15m
Inc 3m @ 1296 ppm TREO from 12m
12m @ 701 ppm TREO from 15m
13m @ 1523 ppm TREO from 15m
Inc 3m @ 1016 ppm TREO from 21m
Inc 3m @ 2155 ppm TREO from 21m
12m @ 760 ppm TREO from 15m
and 9m @ 805 ppm TREO from 30m
Inc 3m @ 1194 ppm TREO from 30m
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ASX:PTR 10
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Comet REE Project Highlights[5]

Exploration Drilling Completed – Assays Pending

High-Grade MREO

Thick & Shallow

Average Intercept TREO = 936 ppm. Average Intercept MREO = 242 ppm (26%) of TREO at Meteor.

Mineralisation starts from a depth of 3-6m and averages 11.5m thickness at Meteor.

Average Intercept TREO = 973 ppm. Average Intercept MREO = 222 ppm (23%) of TREO at Artemis.

Mineralisation starts from a depth of 9-15m and averages 17m thickness at Artemis.

Exploration Upside

Favourable Location

Meteor prospect approx. 2km by 1km open in all directions.

Strong ground position in the Northern Gawler Craton, totalling 1,915 Km[2] .

Artemis Prospect approx. 1.5km by 800m open in all directions.

Pastoral Lease – Only 1 Land holder!

Adelaide to Darwin Railway line runs through the middle of the Project area.

Less than 10% of prospective area explored.

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Woomera IOCG Project

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Highly Prized Tenure – In Area of Major IOCG Mineralisation[6,7]

• Multiple high priority gravity targets – 3 Target Styles – IOCG, Stratabound IOCG and Sedimentary Copper.

• Native Title Mining Exploration Agreement Completed June 2022.

• June 2023 - Arcoona Gravity Survey identifies Copper-Gold Targets.

• Drilling of targets scheduled from Q3/Q4 2023.

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OAK DAM
Woomera Winjabbie
Defence
EMMIE BLUFF
Continuous
Use Zone
Woomera
EL6707 EMMIE IOCG
Khamsin Fremantle
Doctor
The Pines
ELA2023/00014
CARRAPATEENA
Arcoona
Lucas Hill
EL6854
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PTR Exploration Licences, IOCG Mines/Prospects, overlain on a Residual Gravity Image[1]

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ASX:PTR 12
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Woomera IOCG Project

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Three Distinct Styles of Mineralisation[6]

• –

• 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 IOCG, Punt Hill & Hillside).

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

WJD162m @ 0.33% 07WJ0142m @ 0.34% Cu (int. 824-926m) Cu (int. 864-926m) inc. 9m @ 0.8% Cu from 824m

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SAE11- 94m @ 0.21% Cu (int. 1005-1099m)
inc. 7m @ 0.48% Cu from 1006m
inc. 9m @ 0.52% Cu from 1086m
and
-
42m @ 0.28% Cu (Int. 1123 1165m)
inc. 5m @ 1.1% Cu from 1160m
Woomera WJE Prospect
Defence (IOCG Alt. - inc.
Continuous
3m @ 1.6 % Cu
Use Zone
from 824m)
Target 2
–
Target 1
Rocky Well
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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 mineralisation

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ASX:PTR 13
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Woomera IOCG Project

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Rocky Well Gravity Anomaly Comparison with Carrapateena Gravity Anomaly[6]

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

• Steep gravity gradient on west side of Rocky Well may indicate additional shallow Sedimentary mineralisation in the overlying cover strata. ( i.e. Emmie Bluff, Mt Gunson Style Cu-Ag-Co mineralisation potential also!)

Carrapateena

Target 1 - Rocky Well

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ASX:PTR 14
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South Australia Projects

World-Class Olympic Copper Gold Province

• Mabel Creek Copper Gold Project – Large land holding(2,852 km[2] ).

• Cu-Au prospects highlight fertility for Iron OxideCopper-Gold (IOCG) mineralisation.

• Major copper players – RIO, BHP & FMG in surrounding Areas.

• 2020-2021 drilling intersected IOCG alteration at 2 Prospect sites – Area 5 & 13.[8,9]

• Numerous drill ready targets.

• High Powered SQUID EM Survey (April 23) – identified Tier-1 Cu-Au Target (Olympus)[10]

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N
AREA 13
AREA 5
OLYMPUS
AREA 14
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Residual Gravity Image – Eastern Mabel Creek

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ASX:PTR 15
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Mabel Creek Cu-Au Project

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Olympus IOCG Target[10]

• A World–Class Sized Geophysical Target in the Olympic Cu-Au Trend.

• 3 Milligal Gravity Target comparable to the Prominent Hill Cu-Au Mine geophysical response.

• High Powered SQUID EM – identified conductive plate of significant dimensions on eastern flank of the gravity target.

• Conductor starts at 600m depth, is approximately 2km long and extends down at least 2km.

• Drilling of target scheduled from Q3/Q4 2023.

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Olympus Geophysical Response - 1VD Bouguer Gravity Image overlain by late time EM contours showing the position of the top of the conductive plate on the eastern flank of the gravity body which plunges steeply back to the southwest.

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ASX:PTR 16
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PTR Forward Program

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Active Ground Campaign for 2023

Exploration Activity	June	July	August	September	October	November	December
Comet Project
REE Drilling Programs
Assay Results
Metallurgical Studies
Woomera Project
Gravity Survey Results
Drilling Programs
Mabel Creek
EM/Gravity Targets Defined
Drilling Programs

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ASX:PTR 17
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Why Invest in PTR?

Thick, Shallow & High-grade REE

Favourable Location

Exploration World Class Upside Cu-Au Targets

ASX:PTR

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Peter Reid

Chief Executive Officer E: preid@petratherm.com.au T: 0435 181 705

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