RAIDEN RESOURCES LIMITED — AGM Information 2023

Sep 21, 2023

RAIDEN RESOURCES GENERAL MEETING PRESENTATION

September 2023

ASX:RDN DAX:YM4

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Disclaimer

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This presentation does not constitute investment advice. This presentation has been prepared by Raiden Resources Limited (“the Company” or ASX:RDN) to provide summary information about the Company and its activities as at the date of this presentation (September 2023). Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. The presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

The Company confirms that it is not aware of any information or data that materially affects the information included in this presentation, and that all material assumptions and technical parameters underpinning the announcements on which this presentation relies continue to apply. The information contained in this presentation is a professional opinion only and is given in good faith.

Certain information in this presentation has been derived from third parties and though Raiden Resources has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Raiden Resources.

Any forward-looking statements included in this presentation involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Raiden Resources. In particular, these statements speak only to the date of this presentation, they assume the success of Raiden Resources' 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 these assumptions are based. Recipients of this presentation are cautioned not to place undue reliance on such forward-looking statements.

Raiden Resources 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 errors or omissions which may become apparent after this presentation is released.

To the extent permitted by law, Raiden Resources and its officers, employees, related bodies corporate and agents disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Raiden Resources 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 in A$ unless stated otherwise.

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ASX Announcements referenced in this presentation

1 ASX:RDN announcement 29 August 2023 $6m in funding to accelerate Pilbara Lithium Projects

• 2 ASX:RDN announcement 28 June 2023 Raiden expands lithium portfolio adjacent to Azure Minerals

3ASX:RDN announcement 23 August 2023 Raiden defines 30m wide outcropping pegmatites at ‘Andover south project

4 ASX:GRE announcement 24 July 2023 Greentech metals Further high-grade lithium assays - up to 3.6% Li2O - reported at Osborne jv in WA

5 ASX:RDN announcement 7 August 2023 Raiden acquires lithium rights over the Arrow project in the Pilbara

6ASX: 1MC Morella Corporation Limited 10 May 2023 Drilling underway at Mallina Lithium

• 7 ASX:RDN announcement 03 April 2023 Maiden Mineral Resource Estimate & JORC Exploration Target

8ASX:RDN announcement 19 September 2023 Andover High-grade Li2O samples & new 50m wide pegmatite 9ASX:RDN 09 May Investor Presentation May 2023

Competent Person Statement, Previously Reported Information and Cautionary Statement

The information in this presentation that relates to exploration results, including those referenced in footnote 2,3,5,7,8 above, is based on and fairly represents information and supporting documentation, and has been reviewed and approved by Mr Warrick Clent, a competent person who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Warrick Clent is employed by Raiden Resources Limited. Mr Warrick Clent has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr Warrick Clent has provided his prior written consent as to the form and context in which the exploration results and the supporting information are presented in this announcement.

The information from ASX announcements referenced (footnotes 2,3,5,7,8) in this presentation that relates to Exploration Results at the Company projects have been previously released on the ASX. The Company confirms it is not aware of any information or data that materially affects the information included in the market announcements and that all material assumptions and technical parameters underpinning the announcements continue to apply. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements referred to above.

Mineral Resources

The Company confirms it is not aware of any new information or data that materially affects the information included in the 3 April 2023 (Maiden Mineral Resource Estimate & JORC Exploration Target) Raiden Resource estimate and all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed when referring to its resource announcement made on 3 April 2023. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Cautionary Statement LR 5.16.5

The potential quantity and grade of this exploration target included in 3 April 2023 release is conceptual in nature, there is currently insufficient exploration completed to support a mineral resource of this size and it is uncertain whether continued exploration will result in the estimation of a JORC resource. The Exploration Target has been prepared in accordance with the JORC Code (2012).

Corporate Overview / Structure & Highlights

CAPITAL STRUCTURE (Undiluted) TOP HOLDERS MARKET CAP ~$80.1M Top 20 ~35% at A$0.035 (21/09/2023) Top 50 ~50% SHARES ON ISSUE ~2,29M Top 100 ~63% SUBSTANTIAL HOLDERS Pacton Gold Inc ~7% Kitara Investments ~5%

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Substantial
Holders
~14%
All Other
Shareholders Directors
~62% ~3%
Top 20 (Excl.
Substantial
Holders and
Directors)
~21%
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• ➢ ~ 450km[2] portfolio in Li2O elephant territory in the Pilbara

• ➢ Recent acquisition of projects adjacent to Andover lithium discovery - Secured prime real-estate adjacent to a world class discovery

• ➢ Defined significant Li2O bearing pegmatite swarms over extensive strike and mapped widths

• ➢ Preparations for drilling program under way on Andover South

• ➢ Well capitalised - $6m raised in August for Lithium exploration programs[1]

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RAIDEN RESOURCES INVESTOR PRESENTATION

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Board & Management

MICHAEL DAVY - Non-Executive Chairman

Australian business executive with extensive experience in the Australian oil, gas and resources sectors. Mr Davy is also a NonExecutive Director of ASX listed Vanadium Resources Ltd, Haranga Resources Ltd and Arcadia Minerals Ltd.

DALE GINN – Non-Executive Director

Mr Ginn is an experienced mining executive and geologist of over 30 years based in central Canada. He is the founder of numerous exploration and mining companies and has led and participated in a variety of gold and base metal discoveries, many of which have entered production. Previously lead the Aston Mineral’s Boomerang Ni sulphide project drill out in Canada.

WARRICK CLENT – COO

Geologist with +25 years’ technical experience in the mining industry, having worked on greenfield through to advanced exploration projects, open cut and underground mines across the commodity spectrum in multiple countries and jurisdictions including Australia, Papua New Guinea and Indonesia.

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DUSKO LJUBOJEVIC - Managing Director

Geologist and executive with extensive global mining and exploration experience in Europe, Africa, Central Asia, Australia & North America. Previously held senior positions in junior exploration companies; mid-tier and global majors. Cofounded and listed several exploration companies, including being the co-founder of Raiden Resources.

KYLA GARIC - Company Secretary & Non-Executive Director

Qualified Chartered Accountant and Company Secretary with over 18 years' experience working in the ASX markets. Ms. Garic is a director of Onyx Corporate in Australia.

BRUCE VAN BRUNT– Technical Advisor

International mining professional, +35 years' experience, mining engineering and geological background, who held key management positions with a number of majors (Echo Bay Mines, Placer Dome, OceanaGold), junior miners (Amara) and development companies (MDL, Teranga). Developed and operated multiple mines in North America and across Africa.

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RAIDEN RESOURCES INVESTOR PRESENTATION

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Pilbara Lithium Portfolio

• Mapped pegmatite swarms adjacent to one of the most important hard rock Li2O discoveries in the world (Azure’s Andover discovery)

• Large ground holding with historically defined pegmatites at Arrow project

• Pegmatite lithium discoveries in the Mt Sholl project district

• District is serviced by excellent infrastructure (power, proximal port access, water, road network)

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Cape Lambert
Pilbara Ports
Cape Lambert
Authority
Bella Bella
Mt Sholl
Andover
North & South
Pyramid
(AZS) Arrow
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RAIDEN RESOURCES INVESTOR PRESENTATION

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Andover North & South Lithium Project (RDN 80-100%)

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• Secured tenements directly adjacent to Azure Mineral’s Andover Lithium Project, forms the 40km[2] Andover North and South project

• Andover Complex rocks interpreted to underlie all current and acquired tenements – prospectivity confirmed

• Outcropping pegmatites noted across a 4-kilometre-long pegmatite field

• Individual Li2O bearing pegmatites outcrop up to 50 metres wide at surface[9]

• Significant rock chip sampling indicates regular results >1% Li2O with grades up to 2.42% Li2O[9]

• Detailed mapping/sampling underway over the Andover South tenements

• Soil sampling for Andover North planned

• Objective to drill as soon as possible

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RAIDEN RESOURCES INVESTOR PRESENTATION

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Andover South Lithium Project (RDN 80-100%)

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• Significant latest results from Andover South (those >1% Li2O) include[9] :

• 2.42% Li2O - sample R21896

• 2.27% Li2O - sample R21895

• 2.11% Li2O - sample R21826

• 1.85% Li2O - sample R21825

• o 1.81% Li2O - sample R21876 o 1.77% Li2O - sample R21868 o 1.69% Li2O - sample R21887 o 1.64% Li2O - sample R21866

• 1.52% Li2O - sample R21871

• 1.49% Li2O - sample R21886

• 1.44% Li2O - sample R21869

• 1.43% Li2O - sample R21859

• 1.35% Li2O - sample R21870

• 1.30% Li2O - sample R21865

• Anomalous Rubidium values with samples up to 0.35% Rb

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RAIDEN RESOURCES INVESTOR PRESENTATION

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Andover South Lithium Project (RDN 80-100%)

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Andover South outcrop samples under Ultraviolet light

Visual indications that Spodumene may be present in the mineral assemblage

(glowing pink colour under shortwave ultraviolet light is interpreted to be Spodumene)**

Sample R21830 (513060mE/7692431mN GDA94_Z50E)

• Pegmatite, Aplitic, sugary Quartz, muscovite noted. (almost wholly pink salmon fluorescence, spodumene ~40%)

• Pegmatite outcrop 0.7m wide x 2m long, striking magnetic 320[o] /-75[o] )

Sample R21831 (513224mE/7692407mN GDA94_Z50E)

• Pegmatite, Aplitic, sugary Quartz, very low density of Quartz Vein/Veinlets, muscovite noted. (abundant pink salmon fluorescence, spodumene ~20%)

• Pegmatite outcrop 1.5m wide x 22m long, striking magnetic 290[o] /-35[o] )

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Sample R21830 Sample R21831
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** In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of spodumene material abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory analysis by XRD is required to determine the type and grade of the visible mineralisation reported in these hand specimen. The Company will update the market when laboratory XRD analytical results become available in approximately 16 weeks (anticipated timing only due to current workload at ALS Metallurgy Laboratory Perth)

RAIDEN RESOURCES INVESTOR PRESENTATION

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Andover South Lithium Project

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• ➢ Swarms of subparallel pegmatites defined over 4km trend

• ➢ Significant individual pegmatites (50 metre wide in outcrop)

RAIDEN RESOURCES INVESTOR PRESENTATION

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Mt Sholl Lithium Project (RDN 80-100%)

• Highly prospective for lithium-bearing pegmatites with multiple pegmatite fields defined by other parties adjacent to project area

• Current focus on Raiden’s northern-most tenement (E47/3181), with reconnaissance mapping and sampling of southern tenements planned

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GRE Lithium – Osbourne JV
Rock chip samples 3.63 & 2.3% Li20
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• Same lithology as GreenTech Metals Ltd’s (GRE)[4] recent Osbourne JV high-grade lithium trend

• Significant GRE rock chip results include[4] :

  • 3.63% Li2O

  • 2.3% Li2O

  • 0.55% Li2O

  • 0.48% Li2O

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RAIDEN RESOURCES INVESTOR PRESENTATION

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Arrow Lithium Project (RDN owns 100% of Au rights and option to earn into 85% or acquire 100% of Lithium rights[5] )

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• Raiden has option to acquire 100% of Li-Cs-Ta mineral rights for the Arrow Project area (currently holds 100% of all other minerals)

• Historic exploration has identified fertile and fractionated granitic intrusions, source of mineralised Li-Cs-Ta bearing (LCT) pegmatites

• Historic (2020) rock chipping and field observations confirmed that the Satirist Granite was a potential source rock for LCT bearing pegmatites, results included:

• 0.31% Li2O – sample POS9

• 0.19% Li2O – sample POS33g

• Recent Morella Corporation (1MC) drilling[6 ] has confirmed numerous lithium bearing pegmatites adjacent to Raiden’s tenure, significant results have included:

• 16.4m @ 1.24% Li2O from 4.6m in hole M22_004_D

• 3m @ 1.37% Li2O from 54m in hole MRC050

• 3m @ 1.32% Li2O from 26m in hole MRC081

• Visual spodumene identified in pegmatites

• Detailed mapping/sampling to commence imminently over the Arrow North tenement

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RAIDEN RESOURCES INVESTOR PRESENTATION

Investment Highlights

• Planning a drilling program on Andover South project with defined large pegmatite targets

• Work under way to define pegmatite target areas on Mt Sholl, Andover North and Arrow projects

• Undertaking strategic review to commercialise all projects and create upside potential for shareholder;

• Arrow gold project (35km along strike to Hemi)

• Advancement of Mt Sholl Ni-Cu-PGE deposit

• Commercialisation of remaining European assets

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RAIDEN RESOURCES INVESTOR PRESENTATION

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STRATEGIC DIVESTMENTS & PARTNERSHIPS PORTFOLIO

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RAIDEN RESOURCES INVESTOR PRESENTATION

Mt Sholl – Maiden JORC Resource (RDN 80-100%)

Classification	Tonnes Mt	Ni %	Cu %	Co ppm	3E1 g/t	Ni Metal kt	Cu Metal kt	3E (Pd, Pt, Au) oz
Open Pit
Indicated	10.5	0.39	0.45	134	0.32	41.0	47.3	108,031
Inferred	9.8	0.29	0.32	78	0.32	28.4	31.3	100,715
Total	20.3	0.34	0.39	107	0.32	69.34	78.6	208,745
Underground
Inferred	3.1	0.48	0.47	57	0.25	14.9	14.6	24,898

• Total Resource[7] 23.4Mt @ 0.6% Ni_Eq or 1.54% Cu_Eq (at 0.35% Ni_Eq cut-off), OR

40Mt @ 0.45% Ni_Eq or 1.17% Cu_Eq (at 0.15% Ni_Eq cut-off)

High-grade resource of 5.8Mt @ 0.94% Ni_Eq / 2.48% Cu_Eq (at 0.70% Ni_Eq cut-off)[7]

Potential for grade improvements through further drilling:

Indicated (40m drill spacing) vs Inferred (100m drill spacing) category grade comparison

• 26% increase in Nickel grade in Indicated category

• 29% increase in Copper grade in Indicated category

• 42% increase in Cobalt grade in Indicated category

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∼ B1 test mining pit ( 10 x 15m drill spacing) = 128Kt @ 0.55% Ni; 0.9% Cu; 0.6g/t Pd

• (1.0% Ni_Eq or 2.47% Cu_Eq)

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• Only 40% of prospective strike drill tested to date (potential near surface mineralisation defined and remains undrilled)

• Depth extents to be defined / closed off (all deposits open at depth)

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RAIDEN RESOURCES INVESTOR PRESENTATION

Mt Sholl – JORC Exploration Target

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➢ JORC Exploration target*:

– 150Mt @ a grade range of 0.45 – 0.75% Ni_Eq or 1.15 – 1.95% Cu_Eq)[7]

• ➢ Exploration target is based on geological extensions of target units to depth and along strike; magnetic, VTEM and EM anomalies defined over the project area

• ➢ Mineralisation is hosted within a 40-50m wide contact zone between the underlying basalts and overlying gabbro-dolerite & pyroxenites. The contacts are interpreted to dip at a shallow (15-20 degree) angle

• ➢ Majority of the prospective > 11km strike has not been drill tested

• ➢ Magnetic and VTEM surveys indicate “look-alike” anomalism along almost entire 10km strike length - strong potential for further near surface mineralisation

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• ➢ Mineralisation has been intercepted up to 600 metres down dip & remains open to depth – potential for a very large target area (+1.5km dip extents) & potential for definition of significant further mineralisation

• ➢ Majority of current drilling is within upper 100 metres

➢ Only ∼ 6% of modelled potential contact zone drilled to date

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*The potential quantity and grade of this exploration target is conceptual in nature, there is currently insufficient exploration completed to support a mineral resource of this size and it is uncertain whether continued exploration will result in the estimation of a JORC resource. The Exploration Target has been prepared in accordance with the JORC Code (2012).

Basalt basement

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Ultramafic mineralised contact/host

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RAIDEN RESOURCES INVESTOR PRESENTATION

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Mt Sholl – Near-term targets & resource extensions

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• 2022 drilling campaign[9] – B2 long section (Northern extent, Cu_Eq grades)

• Northern extent of B2 deposit defined by high grade and wide intercepts at shallow depths

• Historical feasibility study for a starter open pit indicated positive results

• Development mothballed with the closure of the Radio Hill mine & declining Ni prices

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RAIDEN RESOURCES INVESTOR PRESENTATION

*Depicted intercepts represent most significant grades within larger intercept widths

Arrow Project (100% RDN) – Geological analogue to ASX:DEG Hemi Deposit

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Arrow – Hemi Comparison

• ✓ 35km Along Strike Of Hemi Deposit

• ✓ Hosted within Malina formation

• ✓ Associated with Wohler shear

• ✓ Defined by multi-kilometre (Au-As-Sb) geochemical anomalies

• ✓ Altered metasediments and associated Indee quartz diorite intrusions

• ✓ Near-term drill targets

• ✓ Strategic project in emerging Tier 1 gold camp

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RAIDEN RESOURCES INVESTOR PRESENTATION

Vuzel Project (Bulgaria) – Epithermal Gold Discovery

OVERVIEW[9]

• Epithermal gold discovery defined by drilling & channel sampling. Raiden has option to buy out 100% of the project for A$400k (26.5km[2] ) or earn into 90% by defining a JORC resource

• Significant potential for a near surface high-grade gold system. Geochemistry, trenching, rock sampling & 1[st] pass drilling completed.

• All 11 drill holes intersected significant near-surface gold mineralisation, with peak values up to 5.27 g/t Au . Results indicate potential extensions of the substantial gold zone along strike. Follow-up drill program to define extents of the mineralisation are in the planning stage

Significant drill intersections include:

Historic channel sampling results include:

• 17m @ 1.13g/t Au from 1m in VZ2206, incl.

• 45m @ 1.48 g/t Au and 63m @ 2.55 g/t Au , which includes

• 4.3m @ 2.19g/t Au and 1.2m @ 5.27g/t Au

• 33m @ 3.42 g/t Au and 3m @ 15.46 (Line 1)

• 10m @ 1.18g/t Au from 7.7m in VZ2201 , incl.

• 24m @ 2.79 g/t Au , which includes 6m @ 9.31 g/t Au (Trench 5)

• 3.9m @ 2.38g/t Au

• 66m @ 1 g/t Au (Trench 13)

• 8.8m @ 1.20g/t Au from 22.6m in VZ2209 , incl.

• 99m @ 2.48 g/t Au , which includes

• 1.3m @ 3.52g/t Au

12m @ 11.78 g/t Au (Trench 51)

• 8.5m @ 1.10g/t Au from 7.5m in VZ2203, incl.

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•
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• 48m @ 4.96 g/t Au , which includes

• 2.2m @ 2.66g/t Au

• 24m @ 7.78 g/t Au and 6m @ 20.99 g/t Au (Trench 52)

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RAIDEN RESOURCES INVESTOR PRESENTATION

BG1 Project (Bulgaria) – Drilled Porphyry Deposit

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OVERVIEW[9]

• 100% Raiden – (19km[2] ). Cu-Au porphyry deposit defined by historical drilling ( historical resource defied through 28 drill holes ). No exploration since the early 1970’s . No modern application of geochemistry or geophysics

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• Outcropping alteration suggests erosional level sitting above potassic zone

• Located in a mining district with excellent infrastructure (30km from operating mines and sole smelter in Bulgaria)

• Historic drilling intercepts include:

• 150m @ 0.3% Cu (from 28m) including 90m @ 0.36% Cu

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• 135m @ 0.2 % Cu (from 18m)

• 2.5m @ 15.4 g/t Au (from 289m) - Epithermal component?

• 25.8 @ 0.48 g/t Au (from 226m)

• 40m @ 1.6 g/t Au (from 257)

Unique opportunity

• Potentially a major porphyry-epithermal system in a key mining centre which has not been evaluated with modern exploration techniques or tools.

• Historical drilling indicates mineralisation is unconstrained and open on strike/depth

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RAIDEN RESOURCES INVESTOR PRESENTATION

Value Generation & Discovery Upside

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• ✓ August 2022 – Sale of 100% Myrnas Hill project (Aus) to ASX: AS2 in a stock/cash transaction ( A$220k realised value)

• ✓ January 2023 - Option/Earn in over 75% of Zlatusha project (Bulgaria) to TSX-V: VLC for C$1m in cash and VLC stock staged payments. Velocity Minerals to drill 40,000 metres of drilling and publish a PEA for 75%. Raiden has ability to co-finance 25%, sell its interest or dilute to a 1% NSR

• ✓ April 2023 – Sale of Majdanpek West project (Serbia) to Konstantin Resources Ltd for A$15,000 cash; ongoing monthly project maintenance payments & A$300,000 in stock on completion of condition IPO. Raiden to retain up to a 1% NSR

• ✓ May 2023 - Yandicoogina (Aus) - Option/Sale to LW Resources for $160k stock/cash and a 10% free-carried position up to definition of a positive feasibility study

• ✓ August 2023 – Option/Earn into 75% of Kalabak project (Bulgaria) to TSX-V:VLC – Return of project guarantee funds, minimum drilling commitment and definition of MRE

ONGOING NEGOTIATIONS & UPSIDE POTENTIAL

• Arrow project (Aus) - Negotiations ongoing with multiple parties regarding potential transactions regarding gold potential

• Mt Sholl (Aus) – Negotiations regarding potential strategic partnerships

• Donje Nevlje project (Serbia) - ongoing discussions with external parties regarding sale / partnership over asset

• Vuzel epithermal gold project (Bulgaria) – Plans to evaluate next steps after near-surface discovery / discussions on strategic partnerships

• BG1 porphyry project (Bulgaria) – Possible near term drill test off the back of historical drilling success. Potential for a large porphyry discovery

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RAIDEN RESOURCES INVESTOR PRESENTATION

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DUSKO LJUBOJEVIC (Managing Director)

E: dusko@raidenresources.com.au

A: Suite 7, 63 Shepperton Road, Victoria Park, WA AUS 6100

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RAIDEN RESOURCES INVESTOR PRESENTATION

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