PTR MINERALS LTD — Investor Presentation 2024

May 6, 2024

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7 May 2024

RIU Sydney Resources Round-up Presentation – Copper Focused Critical Minerals Explorer

Petratherm Limited (ASX: PTR) (“ PTR ” or “ the Company ”) is pleased to release the following Company Presentation for the RIU Sydney Resources Round-up Conference (7-9 May 2024).

PTR is a copper and critical minerals explorer focused on the discovery of world-class deposits in both frontier and mature mineral provinces. The Company has two major exploration projects in the Olympic Copper-Gold Province of South Australia. Work in the region has uncovered Iron-Oxide Copper-Gold style alteration/mineralisation at both its Mabel Creek and Woomera Project Areas. Geophysical targeting work has defined several compelling Tier-1 Copper-Gold targets which the Company is planning to drill test during the 2024 calendar period.

In addition, PTR has a major project holding in the northern Gawler Craton of South Australia. Recent exploration has uncovered significant concentrations of rare earths over large areas at several prospect sites. The rare earths are associated with a major intrusive complex, which has been found to be highly prospective for other critical minerals including Platinum Group Elements, Vanadium, and Titanium. At the Muckanippie Project area high concentrations of the critical minerals titanium and vanadium have been identified. This is an early-stage Greenfields project with exceptional upside potential.

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.

PETRATHERM LIMITED P +61 8 8133 5000 ASX:PTR E admin@petratherm.com.au petratherm.com.au

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Conference Presentation May 2024
RIU Sydney Resources Round-up
Petratherm Limited
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 forwardlooking 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.

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JORC Information and Compliance Note:

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:

Footnotes

1. Wilson Advisory Report, 27 March 2024 – Copper Deficits Now Likely in 2024

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

3. Woomera Gravity Survey Defines Significant IOCG Target – 02 May 2024

4. Woomera Tenement Granted – 04 April 2022

5. Olympic Dam Geological Map – Ehrig, K., 2022 - Olympic Dam Geology - an overview: in NExUS-PD: South Australian IOCG Mineral Systems Workshop, Tonsley, South Australia, 29-30 September 2022. Presentation compilation, 34p

6. Quarterly Activities Report – 30 April 2019

7. Significant Copper-Gold Expansion at Mabel Creek – 14 August 2023

8. Mabel Creek – Drilling Results – 12 May 2020

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

Competent Persons Statement:

1. Farm-in Agreement Expands Muckanippie Project – 18 April 2024

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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Corporate Overview

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Cash (31/03/24)
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Shares on Issue

Share Price (3/05/2024)

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Options
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Market Capitalisation
(undiluted)
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Enterprise Value

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PTR Share Price and Volume Chart

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$0.060 1,200,000
$0.050 1,000,000
$0.040 800,000
$0.030 600,000
$0.020 400,000
$0.010 200,000
$- -
3/11/2023 3/12/2023 3/01/2024 3/02/2024 3/03/2024 3/04/2024
Volume
Share Price (A$/Share)
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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 worldclass 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.

Peter Reid Chief Executive Officer

Mr. Reid is an exploration geologist with 30 years’ experience. 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. Founding CEO of Petratherm and the recipient of the Chairman’s Award for his contribution to the Australian geothermal industry.

Simon Taylor Non-Executive Director

Simon Taylor is a resources industry executive with over 30 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. He is the Non-Executive Chairman of Stellar Resources and a Non-Executive of Director Black Canyon Resources.

Simon O’Loughlin Non-Executive Director

Founder of O’Loughlins Lawyers, an Adelaide based specialist commercial law firm. Extensive Experience of equity capital markets, ASX and ASIC rules. Has held many Non-Exec Directorships on ASX listed companies. Non-Exec Director of Stellar Resources.

Donald Stephens Non-Executive Director

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.

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Projects Overview

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Woomera Copper-Gold Project

• Located in World-Class Copper-Gold Olympic Province

• High calibre Tier-1 sized drill ready targets

Mabel Creek Copper-Gold Project

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

• Drilling has defined two Copper-Gold alteration systems

• Several drill ready Tier-1 sized targets

Muckanippie Critical Minerals Project

• Major differentiated layered intrusive complex prospective for Bushveld ‘Reef’ Style – Gold-Platinum Group Metals and Vanadium-Titanium.

• Largely un-explored, early-stage project with tremendous upside potential

Comet Critical Minerals Project

• Exceptional clay hosted Rare Earth drill intercepts – three advanced Prospects

• Large Layered Intrusions (equivalent to Muckanippie) – untested AuPGE anomalies

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Insufficient Copper Supply

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• Global production cuts from major copper producers has seen a sharp reduction in near-term supply.

• Escondida’s average copper head grade has declined from 1.6% in 2008 to 0.9% in 2023 , coinciding with its unit cash costs doubling from ~US$1/lb to >US$2/lb .

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LME Copper Price and Stock Levels
$12,000 750,000
600,000
$9,000
450,000
$6,000
300,000
$3,000
150,000
$- -
LME Copper Stock Levels (t)
LME Copper Price USD per tonne
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• Copper supply shortfall is forecasted from 2027 onwards , as demand rapidly outstrips supply to meet net zero scenarios.

• A standard internal combustion engine (ICE) has an estimated 23kg of copper. In an EV there is typically 3 to 4 times the amount of copper required.

Big shortfall in copper supply predicted to open up from 2027

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Mn tonnes
Estimate
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Footnote 1

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Woomera IOCG Project

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

• Native Title Mining Exploration Agreement Completed.

• Recently completed (March 2024) gravity surveys now give complete coverage across the project – previously very poor

• Inventory of drill ready Tier-1 sized Copper-Gold Targets.

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PTR Exploration Licences, IOCG Mines/Prospects

6 Footnote 2

Woomera IOCG Project

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Rocky Well & Bernard Hill

Cu-Au-Ag-U (i.e. Olympic Dam/ Carrapateena/Oak Dam & Prominent Hill)

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Winjabbie South

Cu-Au-Co (i.e. Emmie IOCG, Punt Hill & Hillside)

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

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Winjabbie
South
Woomera
East
Woomera Defence
Continuous
Use Zone Rocky Well
Pipeline
White Well
North Port
Hardys
Bernard Hill
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Gravity data

7 Footnote 3

Major Stratabound Style IOCG Prospects in the Region

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Punt Hill IOCG (Red Metals ASX:RDM)

Emmie Bluff Deeps (Coda Minerals ASX:COD)

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GHDD6
Cu Prospect
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Residual Gravity Image

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Source: Coda Minerals 06/10/2021 ASX release.

• Northwest trending gravity high (ridge) defines extent of the mineralisation, intercepting thick intervals of copper

• Emmie IOCG drilling highlights – stratabound IOCG mineralised zones

• i.e. GHDD6 - 159m @ 0.47%Cu , 0.12g/t Au & 5.3g/t Ag, from 846m.

• Higher grades closer to “feeder faults?”

(Source: SA. Govt - SARIG)

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Woomera - Stratabound IOCG Target – Winjabbie South

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• Historic drilling indicates copper mineralisation is regionally extensive, extending over several kilometres.

• WJE001: 5m @ 0.85% Cu from 813m inc. 1m @ 3.6% Cu, 0.23 g/t Au from 813m

• WJD1: 63m @ 0.31% Cu from 864m

• 07WJ01: 75m @ 0.30% Cu from 812m

• inc. 7m @ 0.88% Cu from 826m

• SAE11: 94m @ 0.21% Cu from 1005m inc. 7m @ 0.48% Cu from 1006m inc. 9m @ 0.52% Cu from 1086m and 42m @ 0.28% Cu from 1123m inc . 5m @ 1.1% Cu from 1160m

• Grade and thickness increasing westward – fault controlled.

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Residual Gravity Image, historical drilling and interpreted faults

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Footnote 4

Woomera IOCG Project

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Bernard Hill

Rocky Well

• High amplitude feature, >2km strike length.

• ~1km diameter feature, high amplitude.

• Adjacent to ENE trending fault (similar to faults at Olympic Dam).

• Modelling indicates potential for a pipe-like IOCG.

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Outline of Olympic Dam geology showing major controlling structures ASX:PTR

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Winjabbie
South
Woomera
East
Woomera
Defence
Continuous Rocky Well
Use Zone
Pipeline
White Well
North Port
Hardys
Bernard Hill
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Gravity data

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Footnote 3 & 5

Woomera – IOCG Breccia Bodies – Rocky Well Target

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• 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 Carrapateena Target 1 Rocky Well overlying cover strata. ( i.e. Emmie Bluff, Mt Gunson Style Cu-Ag-Co mineralisation potenital)

11 Footnote 10 Footnote 4

Woomera – IOCG Breccia Bodies – Bernard Hill Target

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• Use magnetic modelling to identify and constrain mafic (Gairdner) dykes.

• Apply known (from historic drill core) SG data of cover, basement and intrusive rocks to the model and compare with measured gravity data.

• Add additional dense bodies to correct

discrepancies (using constraints on body depth, density etc).

• Modelled body has an SG of 3.4. g/cm[3] – equal to published data from Oak Dam, Carrapateena and Prominent Hill IOCG Bodies.

• Body dimensions are 400m wide by 2800m length, with depth extent of 1000m, target depth 850m.

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12 Footnote 3

Mabel Creek IOCG Project

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• Northern Olympic Province - Large holding of 3,798km[2] .

• Iron Oxide-Copper-Gold (IOCG) alteration/mineralisation at 3 Prospect Sites (BigNE, Cadi and Area 5) highlight fertility of the region.

• Cadi Prospect:

• NC9202 - 44m @ 0.10% Cu , 0.5% Ce + La from 148m

• 99WS003 - 16m @ 0.57% Cu & 0.17% Ce + La from 184m to end of hole

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

• Mines Department has recently quarantined the surrounding areas – NO NEW APPLICATIONS UNTIL JULY 2026

• Significant parts of the project still with no gravity coverage

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Pudd Bore
Wirrangula
BigNE
Area 5
Area 14
Cadi Cu-REE Prospect
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Magnetic Image of Eastern Mabel Creek Project Area – Targets and New Tenement areas

13 Footnote 6 & 7

Mabel Creek – Area 5 Target

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• Drilling of combined magnetic / gravity targets has intersected moderate levels of hydrothermal alteration.

• Anomalous rare earths up to 0.2% in altered granite.

• Anomalous copper occurs in metasediments

• surrounding highly altered granite.

  • MCDA5-01 - 4m@ 0.18% from 168m.

Red rock altered granite (high REE’s up to 0.2%)

MCA5-01 – chalcopyrite mineralisation in surrounding metasediment

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Hydrothermal alteration overprints all rocks at varied levels - comparable to IOCG alteration

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Untested Gravity Targets

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MCA5-04
MCA5-03
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Magnetic Image overlain by Residual Gravity Contours

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Footnote 8 & 9

Mabel Creek – New Gravity Targets

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NEW REGIONAL DATA
Wirrangula
BigNE
Interpreted
deep granite
ABNE1
ABNE2
ABNE3
New
targets
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• Historic drilling intersected late iron rich alteration/brecciation, consistent with IOCG alteration.

• Anomalous copper up to 0.32% over short intervals

• Eastern side is a gravity only target and not drill tested

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422.7m
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Zone of strong hematite IOCG style alteration (rust red colouration) in hole ABNE 2 (interval 417.9m – 426 m)

Bouguer Gravity Anomaly Image

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Footnote 7

Muckanippie Project – Bushveld Type Layered Intrusion

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Geology Map of Muckanippie Area, Tenements and Prospects.

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Nardoo Prospect Ni-Pd-V
Ni up to 0.12%, Pd up to 76
ppb V2O5 up to 0.14%
Duke Au-Pd
DAC05 - 2m @ 0.54g/tAu, Pd up to
77 ppb, V2O5 up to 0.23%
Queenie Tank Prospect
Up to 0.44% V2O5, 21.0 %
TiO2, 47.5% Fe, 4.4% P2O5
Wigetty Prospect
TA01 - 94m @ 6.4% TiO2, Malbooma Gold Mine
24.8% Fe from 56m to EOH r ock chips up to 22 g/t Au
TA02 - 150m @ 5.2% TiO2,
21.9% Fe from 0m to EOH
M1 Prospect
TCP01 - 34m @ 8.5% TiO2,
22.1% Fe from 55m to EOH
ASX:PTR
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Queenie Prospect - exceptional Ti-V assays

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Prospective Ti-V
Stratiform horizon
Prospective Ti-V
Stratiform horizon
GM25.1 up to 0.44% V2O5, 21.0%
TiO2, 47.5% Fe & 4.4% P2O5
GM25.2 up to 0.44% V2O5, 18.2%
TiO2, 45.4% Fe & 3.1% P2O5
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Similar geology and anomalous metal associations to the globally significant Bushveld Complex, South Africa

Largely un-explored due to shallow cover (<10 metres)

Exploration targeting

• Gold-Platinum Group Metals

• Vanadium-Titanium-Iron-Phosphate

16 Footnote 12 Footnote 10

PTR 2024 Forward Program

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Exploration Activity Jun-24 Sep-24 Dec-24 Woomera Cu-Au Project Gravity Targets Defined Heritage Surveying Drilling Programs Mabel Creek Cu-Au Project Gravity Targets Defined Heritage Surveying Drilling Programs Muckanippie Critical Mineral Project Rock chip / soil surveys Heritage Surveying Drilling Programs Comet Critical Mineral Project Drilling Programs

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Contact

Peter Reid

Chief Executive Officer

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

Petratherm Limited ASX: PTR

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