RENEGADE EXPLORATION LIMITED — AGM Information 2021

Nov 29, 2021

AGM Presentation 30 November 2021

Important Notices

You must read the following notices before reading or making any use of this document or any information contained in this document. By continuing to read, use or otherwise act on this document, you agree to be bound by the following terms and conditions, including any modifications to them.

This presentation (Presentation) has been prepared by Renegade Exploration Limited (Renegade) based on information available to it from them and third party sources as at 24 June 2021. This document is provided for informational purposes only and does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in Renegade. This document is not a prospectus, product disclosure statement or other offering document under Australian law or any other law, will not be lodged with the Australian Securities and Investments Commission, and may not be relied upon by any person in connection with an offer or sale of Renegade securities. The release, publication or distribution of this document (including an electronic copy) outside Australia may be restricted by law. If you come into possession of this document, you should observe such restrictions and should seek your own advice on such restrictions. Any non-compliance with these restrictions may contravene applicable securities laws. By retaining this document, you (the Recipient) acknowledge and represent to Renegade that you have read, understood and accepted the terms of this Important Notice.

Disclaimer

The information in this document is general in nature and does not purport to contain all the information that a prospective investor may require in evaluating a possible investment in Renegade or that would be required in a prospectus or a product disclosure statement prepared in accordance with the Corporations Act 2001 (Cth) or the securities laws of any other jurisdiction. You should not treat the contents of this document, or any information provided in connection with it, as financial product, investment advice or any other type of recommendation or advice in relation to Renegade securities. Each recipient of this document should make their own enquiries and investigations regarding all information in this document, including, but not limited to, the assumptions, uncertainties and contingencies which may affect the future operations of Renegade and the impact that different future outcomes may have on Renegade.

No representation or warranty is made by Renegade or any of its advisers, agents or employees as to the accuracy, completeness or reasonableness of the information in this document or provided in connection with it. No information contained in this document or any other written or oral communication in connection with it is, or shall be relied upon as, a promise or representation and no representation or warranty is made as to the accuracy or attainability of any estimates, forecasts or projections set out in this document. No liability will attach to Renegade, with respect to any such information, estimates, forecasts or projections. To the maximum extent permitted by law, Renegade does not accept responsibility or liability for any loss or damage suffered or incurred by you or any other person or entity however caused (including, without limitation, negligence) relating in any way to this document including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused (including without limitation, where caused by third parties), lack of accuracy, completeness, currency or reliability or you, or any other person or entity, placing any reliance on this document, its accuracy, completeness, currency or reliability. Renegade does not accept any responsibility to inform you of any matter arising or coming to Renegade's notice after the date of this document which may affect any matter referred to in, or information included in, this document. Any liability of Renegade, their advisers, agents and employees to you or to any other person or entity arising out of this document including pursuant to the Australian Securities and Investments Commission Act 2001 (Cth), Corporations Act 2001 (Cth), the Competition and Consumer Act 2010 (Cth) or any corresponding provision of any state or territory legislation, or similar provision under any applicable law is, to the maximum extent permitted by law, expressly disclaimed and excluded.

Future matters

This document contains information relating to certain intentions, expectations, future plans, strategy and prospects of Renegade. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of Renegade may be influenced by a number of factors, many of which are outside the control of Renegade. No representation or warranty, express or implied, is made by Renegade, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause Renegade's actual future results, performance or achievements to be materially different from those expected, planned or intended, Recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. Renegade does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

Release of this document has been authorized by Mr Robert Kirtlan, Renegade's Chairman.

30 November 2021

Overview

Strategy

• World Class Jurisdictions Targeted
• Well Understood Geology
• Camp Scale Approach
• Advanced Projects targeted
• Motivated by Value
• Strong Cost Management

2020/2121 -A Year of Rationalisation 2021/22 – A Year of Growth

• Yandal East Project Sale for ~$3-5m
• Yukon Sale for ~$1.45m
• Acquisition of Carpentaria JV interest with MIM in QLD
• Reviewing new Projects
• Well financed to aggressively work projects

Carpentaria Joint Venture Acquisition

• Terms:

Staged payments over two years

• On acquisition completion 15m shares (May 2021)
• Year 1 anniversary 10m shares or $100k cash
• Year 2 anniversary 10m shares or $150k cash

• A Brief History

• CJV formed in 2001 between Normandy and MIM
• Sovereign Metals listed with CJV as its main asset in 2007
• CJV has had ~$18m expended on exploration
• Initial interest is 23%
• Leveraged to the prolific infrastructure rich Cloncurry-Mt Isa region
• Tier 1 JV partner (MIM is a subsidiary of Glencore)
• The CJV has a number of prospects which are advanced in nature with recent historical drilling completed by MIM

• Next Steps

• Seeking to create value in the CJV
• Reviewing other opportunities in the region

Strickland Asset

• Located 70km NE of Wiluna within the Yandal Greenstone Belt
• The Yandal Greenstone Belt has produced in excess of 10Moz of gold
• 100 km strike length of greenstone belt , ~600sqkm land holding
• Number of gold deposits on and around the major geographical feature, the Celia Fault
• The major production centre is at Jundee, located ~25km west of central Yandal East
• Disposal to Strickland Metals:
  • Ø $800,000 cash in two tranches ($400k received; $400k due Jan 22)
  • Ø 40m STK shares (escrowed for 12 months/July 2022)
  • Ø 0.5% Net Smelter Royalty
• Strickland disposal is strategic for Renegade
  • Ø Creates 100km long control over Celia Shear
  • Ø Provides Strickland with ability to book rigs and personnel for long periods
  • Ø Renegade retains strong leverage to the Yandal East greenstone belt via the Strickland shareholding
  • Ø Strickland announcing encouraging results

Source: Strickland Metals Limited

Yukon Project Sale

• Share Purchase Agreement (SPA) with Scharfe Holdings Inc. to purchase Renegade's Canadian subsidiary Overland Resources Yukon Limited for total consideration A$1,450,000 in cash payments and commitment to spend C$500,000 in exploration and development before November 30 2023.

• Terms:

• Tranche 1 A$250,000 on completion of the SPA (received)
• Tranche 2 A$500,000 on or before 30 July 2021 (received) • Tranche 3 A$700,000 on 36- month anniversary of closing date (30/11/23)
• Tranche payments can be advanced at any time
• Upon final payment, Renegade will hold a right to a 1% Net Smelter Royalty on the Yukon project subject to commercial production achieved, with Scharfe having an option to acquire that royalty by the payment of A$1,000,000 to Renegade
• Ownership of the Yukon Project will revert to Renegade if Scharfe fails to meet any of the above tranches or terms by the relevant date

Corporate Information

Capital Structure and Enterprise Value
ASX Ticker	RNX
Shares on issue	879.6M
Share Price	$0.008
Market Cap	$7 M
Cash	~$0.75m (@ 30/09/21)
Cash from other sources¹	$0.40m
Treasury Stock and FutureOption Payments¹	~$4m
Unlisted Options	70.0M @ $0.005 (30 Nov 2023)
Management
Robert Kirtlan	Chairman
Mark Wallace	Director

Substantial Holders
Sierra Whiskey Pty Ltd	5.05%
Zebina Minerals Pty Ltd	3.01%
Top 10	30%
Top 20	45%
Top 50	70%

¹Refer to other slides for details on timing for payments and share escrow details, shares held are subject to market conditions

Peter Voulgaris Director

Summary

• Carpentaria JV Acquisition
  • Advanced exciting project with immediate targets
  • Potential short to medium term opportunities
• New Opportunities
  • Reviewing a number of new projects

• Future Funding Well Placed

• Cash payments from Yukon Sale
• Cash payments from Strickland and potential to leverage value from the Strickland shareholding
• Provides capital for aggressive programs with potential not to come to market

Tenement Schedule

CarpentariaJV Project	TenementNumber	TenementType	Type ofInterest	Interest
	EPM 8586	Exploration License	Direct	23.0%
	EPM 8588	Exploration License	Direct	23.0%
	EPM 12180	Exploration License	Direct	23.0%
	EPM 12561	Exploration License	Direct	23.0%
	EPM 12597	Exploration License	Direct	23.0%

Enquiries and Further Information Robert Kirtlan Director

E: info@renegadeexploration.com

Competent Person and Geological Information Sources

The information in this presentation that may relate to exploration results and information for the Carpentaria Joint Venture Project (Mongoose Prospect) is based on information provided by Mt Isa Mines Limited and released by Sovereign Metals Limited (ASX:SVM) to ASX on 25 March 2014 (see ASX release titled "Drilling by Glencore Returns Copper Mineralisation"). The information has been reviewed by Mr Peter Smith, BSc (Geophysics) (Sydney), who is a consultant to the Company. Mr Smith is a Member of the Australian Institute of Geoscientists. Mr Smith has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results (JORC Code). Mr Smith consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. Nothing has come to the attention of the Company that causes it to question the accuracy or reliability of Sovereign Metals Limited information as released to the ASX on 25 March 2014

Information on the Dusk to Dawn deposit, Horsewell Deposit, Millrose Deposit and Iroquois Prospect is sourced from Strickland Metals Limited ASX Releases dated 9 June 2021, 18 June 2021, 23 June 2021, 14 October 2021 and 30 November 2021. Strickland Metals Limited has consented to the use of its location map.