PTR MINERALS LTD — Investor Presentation 2024

Feb 12, 2024

13 February 2024

Exhibitor Presentation - PTR Positioned for Growth

Petratherm Limited (ASX: PTR) ("PTR" or "the Company") is pleased to release the following Company Exhibitor Presentation for the RIU Fremantle Explorers Conference (13-15 February 2024). PTR is a critical minerals explorer focused on the discovery of world-class copper-gold-uranium and rare earth (REE) deposits.

PTR has defined several high-priority Iron-Oxide Copper-Gold targets at its Mabel Creek and Woomera Projects located in the Olympic Copper-Gold Province of South Australia.

Exploration drilling at the Comet Project Area, in the northern Gawler Craton of South Australia has delineated three major REE occurrences. The Meteor, Artemis and Comet East REE Prospects occur at 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.

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 (ASX: PTR)

RIU Fremantle Explorers Conference -

Exhibitor Presentation

13 -15 February 2024

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.

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.

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:

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 Meteor Prospect – Exceptional REE Drill Intersections – 15 February 2023 3 Beneficiation Process Increases Rare Earth Grades at Meteor – 18 September 2023 4 Drilling Identifies Major New REE Prospect – 24 February 2023 5 Drilling hits High-Grade Clay Hosted Rare Earths – 04 September 2023 6 Major New Rare Earths Prospect Area Uncovered at Comet – 28 August 2023 7 Squid EM Survey – Significant Copper-Gold Target – 22 May 2023 8 Significant Copper-Gold Expansion at Mabel Creek – 14 August 2023 9 Drilling of High Priority Olympus IOCG Target – 03 October 2023 10 Woomera Tenement Granted – 04 April 2022 11 Woomera Gravity Survey Identifies Copper-Gold Targets – 14 June 2023 12 Significant Uranium and Gold Targets at Muckanippie – 05 February 2024

Corporate Overview

PTR Share Price and Volume Chart

Board and Management

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.

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.

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

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.

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.

Project Overview

Comet REE Project

• Exceptional REE drill intercepts over three prospects.
• Massive exploration upside less than 10% of prospective area tested for REEs.
• Significant grade increase using size beneficiation processing leach trials underway.

Mabel Creek Copper-Gold Project

• Large holding over the northern Olympic Copper-Gold Province.
• Drilling has defined two Copper-Gold Alteration Systems.

Woomera Copper-Gold Project

• Located in World-Class Copper-Gold Olympic Province.
• High calibre drill ready gravity targets

Muckanippie Gold-Uranium-REE Project

• Major differentiated layered intrusive complex with abundant metal anomalism Au, U & REE
• Early-stage project with initial ground works underway.

Comet REE Project

• Strong ground position in the Northern Gawler Craton, totalling 1,915km 2 .
• Regional drilling activities to date have tested 130km 2, which is <10% of the total Project Holding.
• Drilling has defined three high -grade clay hosted REE's at Meteor, Artemis and Comet East Prospects.
• Substantial upside potential for additional new REE discoveries in the surrounding unexplored tenure.

• High-Grade REE Prospect (> 1000ppm TREO).
• High-Value MREO up to 746ppm and average 242ppm (26% of TREO).
• Mineralisation starts at shallow depth 3-6m.
• Mineralised intercepts up to 38m and average 11.5m.
• Main Prospect 2km by 1km, with other satellite bodies evident and is open in several directions.
• REE enriched source rocks below, offer additional REE targets!

Meteor – W-E Cross Section – High Grade Mineralisation

Meteor – Beneficiation Significantly Increases REE Grade

• including >500ppm MREO can be produced, with > 60% Recovery
• Reduction in ore feedstock volume by 57%, further reducing lixiviant consumption volumes for leaching.
• Upper Gypsum Horizon grade increased by 79%, retaining >75% of ore and records a 55% sample mass reduction for processing.

9m @ 2624ppm = 87.4% upgrade in TREO (-38µm fraction assay)

74.9% of TREO remains in -38µm fraction assay

• High-grade REE blanket >1000ppm TREO.
• Prospect currently 3km by 1.5km open in several directions.
• High value MREO intercepts up to 609ppm and average 221ppm.
• High-grade intercept thickness ranges from 12 to 37m.

Artemis Cross-Section A-A'

• Greenfields drilling 25km to the east of the Meteor and Artemis prospect, uncovered a new high-grade REE prospect.
• REE's associated with a layered magnetic complex with mineralised intercepts recorded over a 3km trend and remains open both to the west and east.
• High-grade intercepts up to 2,990ppm TREO, with significant concentrations of high value MREO.

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

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

Thick & Shallow High-Grade MREO

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

Average Intercept TREO = 962ppm. Average Intercept MREO = 223ppm (23%) of TREO at Artemis.

Favourable Location Exploration Upside

Strong ground position in the Northern Gawler Craton, totalling 1,915km2.

Pastoral Lease – Only 1 Land holder!

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

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

Artemis Prospect approx. 3km by 1.5km open in all directions.

Less than 10% of prospective area explored.

Trials show a Rare Earth feedstock of 2000ppm TREO, including >500ppm MREO can be produced, with >60% Recovery.

Muckanippie Project – Gold-Uranium-REE Potential

MKAC060 U (ppm) & Gamma Downhole Readings

South Australia Projects

• Mabel Creek Copper Gold Project Large land holding(4,636km2).
• Cu-Au prospects highlight fertility for Iron Oxide-Copper-Gold (IOCG) mineralisation.
• Major copper players RIO, BHP & FMG in surrounding Areas.
• IOCG alteration/mineralisation at 2 Prospect sites – BigNE and Cadi
• Pipeline of Gravity Targets
• Prospective eastern areas recently granted (EL6949 & EL 6950) - regional gravity targeting scheduled from March 2024

Magnetic Image of Eastern Mabel Creek Project Area – Targets and New Tenement areas

BigNE Gravity Target with magnetic contours overlain

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

Woomera IOCG Project

• Multiple high priority gravity targets 3 Target Styles – IOCG, Stratabound IOCG and Sedimentary Copper.
• Native Title Mining Exploration Agreement Completed.
• Arcoona Gravity Survey identifies Copper-

PTR Exploration Licences, IOCG Mines/Prospects, overlain on a Residual Gravity Image

Woomera IOCG Project

• 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!).

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

• 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!)

	January	February	March	April	May	June	July
Comet Au-PGE + REE Project
REE + Au-PGE Drilling
Assay Results
REE Metallurgical Studies
REE Metallurgial Results
Muckanippie Au-U-REE Project
Rock chip / soil surveys
Heritage Surveying
Mabel Creek Cu-Au Project
EM/Gravity Targets Defined
Drilling Programs
Woomera Cu-Au Project
Gravity Targets Defined
Heritage Surveying
Drilling Programs

Investment Summary

Thick, Shallow & High-grade REE

Favourable Location

Exploration Upside

World Class Cu-Au Targets

ASX:PTR 21

Peter Reid Chief Executive Officer

E: preid@petratherm.com.au

T: 0435 181 705