QMINES LIMITED — Investor Presentation 2021

May 5, 2021

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Queensland’s Next Copper & Gold Developer

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DISCLAIMER

This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly. This document is neither a prospectus nor an offer to subscribe for Shares. QMines Limited ACN 643 212 104 ( QMines ) and its directors, officers, employees, advisers, agents and consultants make no representations or warranties as to the accuracy, reliability or completeness of this document including the accuracy or attainability of any forward-looking statements, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded.

EXPLORATION

The information in this document that relates to mineral exploration and exploration targets is based on work compiled under the supervision of Mr Hamish Grant, a member of the Australian Institute of Geoscientists (AIG). Mr Grant is QMines’ principal geologist and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking 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’ (JORC 2012 Mineral Code). Mr Grant consents to the inclusion in this document of the exploration information in the form and context in which it appears.

COMPETENT PERSON

The information in this document that relates to the Mineral Resource Estimate and Exploration Targets is based on information compiled by Mr Simon Tear, a member of the Australian Institute of Mining and Metallurgy. Mr Tear is a director and consultant geologist with H&S Consultants Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to be a Competent Person for the reporting of Mineral Resources according to the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Tear consents to the inclusion in this document of the information relating to Mineral Resources and exploration information in the form and context in which it appears.

MT CHALMERSCOPPERGOLD PROJECT

The historical exploration results in relation to the Mt Chalmers project contained in this document have been validated and reported in accordance with the JORC 2012 Mineral Code and the Competent Person has undertaken sufficient work to disclose the historical exploration results in accordance with the JORC 2012 Mineral Code.

LIMITEDHISTORY

The Company was recently incorporated on 4 August 2020 and has only limited operating history and limited historical financial performance. Exploration and production has previously been conducted on the area of land the subject of the tenements, however, the Company is yet to conduct its own exploration activities or had the opportunity to confirm any historical information in relation to these tenements.

FUTUREPERFORMANCE

This document contains references to certain targets and plans of QMines which may or may not be achieved. Any forward-looking statements are necessarily based upon a number of estimates and assumptions that, whilst considered reasonable by QMines and the Competent Person, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. The performance of QMines may be influenced by a number of factors, risks and uncertainties, many of which are outside the control of QMines and its directors, officers, employees, advisers, agents and consultants.

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OVERVIEW

• Queensland based exploration and development company.

• Owns 100% of 4 advanced copper-gold projects covering 978km².

• Mt Chalmers total production of 1.24Mt @ 2.0% Cu, 3.6g/t Au and 19g/t Ag¹.

• [, ]

• • ² Inferred Resource (JORC 2012) at Mt Chalmers 3.9Mt @ 1.15% Cu, 0.81g/t Au & 8.4g/t Ag¹

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Map: Locations of QMines’ projects and other major mines.

Photos: The Historic Mt Chalmers Copper-Gold Mine.

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“Incentivised management with a track record of generating shareholder returns...”

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MR ANDREW SPARKE

Executive Chairman

• Assisted numerous ASX listed companies with capital raisings and corporate transactions.

• Former Director of Alt Resources Ltd (ASX:ARS), Torian Resources Ltd (ASX:TNR) and Landstead Investors Pty Ltd, a UK founded investment fund.

• Managing Director of Olive Capital Pty Ltd, an Australian based boutique corporate advisory firm.

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MR DANIEL LANSKEY

Managing Director

• 20 years experience in the resources, oil and gas and cannabis industries.

• Former Chairman of Needle Capital Corp, acquired by The Flowr Corporation (TSXV:FLWR).

• Non-Executive Director of MacArthur Minerals Ltd (ASX:MIO).

• Founder/MD of Austex Oil Ltd (ASX:AOK) (2006-2014) which grew from start-up to $US30 million in revenue per annum.

• Holds a Bachelor of Business (Marketing) a Masters in Finance and is a graduate member of the AICD.

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MR JAMES ANDERSON

General Manager Operations

• Significant operational experience of ASX listed resources companies.

• Founder and former CEO of Alt Resources Ltd (ASX:ARS).

• • Alt was recently acquired by a large private equity group generating significant value for shareholders.

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MS ELISSA HANSEN

Non-Executive Director (Independent) & Company Secretary

• Experience in advising company boards on corporate governance, compliance and investor relations.

• Chartered Secretary with strong governance and compliance skills.

• • Director and/or Company Secretary of a number of public, listed and private companies

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Enterprise Value (Post IPO): $22.3m

SHAREHOLDER BREAKDOWN

ASX Code QML Shares on Issue 110.5m Options on Issue 4.2m Market Capitalisation $33.2m Cash at Bank (IPO Closing) $10.9m Enterprise Value ($0.30) $22.3m

• The Company issued 38,493,696 at $0.30 for gross proceeds of $11,548,106 for its IPO.

• Options have an exercise price of $0.375 and a 3 year term from listing.

• Rounding errors may occur.

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----- Start of picture text ----- 43%Founders & DirectorsSeed InvestorsIPO Investors35%9%Project Vendors13%----- End of picture text -----

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OVERVIEW

• Located 17km North-East of Rockhampton, Queensland.

• QMines owns 100% of the project that comprises 198km².

• Includes the historic Mt Chalmers copper-gold mine.

EXISTING RESOURCE

• ¹[,] ²

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• Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag

• This equates to a Copper Equivalent Resource of 73,000t Cu @ 1.87%.*

EXPLORATION TARGETS **

• Three Exploration Targets at Woods Shaft, Botos and Mt Warminster.

• The Exploration Targets have been generated from surface mapping and historic drilling data.

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Mt Chalmers Tenure, Geology, Infrastructure & Location.

• Metals price assumptions for copper equivalent estimates are US$6,655/t Cu, US$1,900/oz Au and US$25/t Ag. Exchange rate is AUD$0.70. Assumed metallurgical recoveries of 90% for gold and 50% for silver.

** Exploration Targets are reported in accordance with the JORC 2012 Code & Guidelines.

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Location of the Mount Chalmers mine amongst regional deposits and key infrastructure.

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----- Start of picture text ----- REGIONAL PROSPECTIVITY3 4 12JORC 2012 Prospects Priority DrillExploration Targets Targets----- End of picture text -----

Mt Chalmers Project Drilling, Geology & Geochemistry.

• QMines Prospectus, Annexure A, Independent Geologist Report, pages 93-104.

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Long section through the Mt Chalmers West Lode showing drillhole intersections and the high-grade nature of the Mt Chalmers ore body.

• QMines Prospectus, Annexure A, Independent Geologist Report, pages 88-106.

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EXPLORATION UNDERWAY

• Maiden Diamond Drilling Program – Completed May 2021

  • 11 holes drilled totaling 1,574 meters.

  • Maximum depth to 237 meters.

  • Average depth 143 meters.

  • First assay results expected Q2-2021.

• RC Drilling Program – Commencing May 2021

  • Rockhampton based drilling company engaged.

  • Phase 1 to include approximately 3,000 meters.

Maiden Diamond Drilling Program at Mt Chalmers.

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MAIDEN DIAMOND DRILLING PROGRAM – NOW COMPLETE

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Plan View of Diamond Drillhole Collar Locations, Mt Chalmers project.

Twinned Diamond Drillhole Trace, Hole Depths And Mineralised Wireframes.

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OVERVIEW

• QMines strategy involves seeking to become Australia’s next copper and gold developer.

• The Company is committed to achieving this goal whilst maintaining strong ESG practices.

• .

• This includes our aim of becoming Australia’s first zero carbon copper and gold explorer

ESG INITIATIVES

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Climate Active Certification Renewal Energy Generation Quarterly ESG Reporting

• Coffey International engaged to complete environmental audit at Mount Chalmers.

• Mt Chalmers Office – Wind, solar and battery powered (off-grid).

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Share in our Company’s exciting future...

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----- Start of picture text ----- 1 High-Grade Historic Producer;Existing Resource;23 Extensive Drilling Program;----- End of picture text -----

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----- Start of picture text ----- 4 Experienced Management; andSubstantial Exploration Potential.5----- End of picture text -----

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Daniel Lanskey Managing Director Mobile: +61 451 558 018 Email: dan@qmines.com.au

This announcement has been approved and authorisedby the Board of QMines Limited.

Notes:

• ¹ Refer to the Independent Geologist Report commencing on page 84 of the Prospectus dated 16 March 2021 available at https://qmines.com.au/prospectus-2/

• 2 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus dated 16 March 2021 and that all material assumptions and technical parameters underpinning the resources estimates in the Prospectus dated 16 March 2021 continue to apply and have not materially changed.

Andrew Sparke Executive Chairman Mobile : +61 422 283 022 Email : andrew@qmines.com.au

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