RESOLUTION MINERALS LTD — Investor Presentation 2018

Mar 5, 2018

ASX RELEASE 6 March 2018

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ASX: N27, N27O
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NORTHERN COBALT INVESTOR PRESENTATION

Northern Cobalt Limited has released an amended version of the ASX announcement released on 28 February 2018 “Northern Cobalt Investor Presentation”.

The following changes have been made in order to fully comply with the requirements of the JORC Code 2012.

Exploration Resuts extracted from the Mineral Deposits and Mines database at the Northern Territory Geological Survey on pages 24 and 26 have been removed as they have not been released by Northern Cobalt under the JORC Code 2012.

Webinar

Reminder to join our newsletter for invitations to our regular Q&A Webinars and latest releases via our website www.northerncobalt.com.au

For further information please contact:

Michael Schwarz, Managing Director, Northern Cobalt Ltd M: +61 402 101 790 E: mschwarz@northerncobalt.com.au

CAPITAL STRUCTURE

Ordinary Shares Issued 40.0 M

Options Listed 7.0 M @ 20c Unlisted 12.3 M @ 25c

Performance Shares Class A 9.6 M Class B 3.6 M

Last Capital Raise 20 Sept 2017 $4.2M @ 20c (IPO)

BOARD

Len Dean - Chair Michael Schwarz - MD Duncan Chessell - Exec Dir Andrew Shearer - NED Jarek Kopias - Co Sec

WWW.NORTHERNCOBALT.COM.AU

EMAIL US

67 GOODWOOD ROAD WAYVILLE SA 5034 AUSTRALIA

ASX: N27, N27O

Project Location

The Wollogorang Cobalt Project occurs in the far north-eastern corner of the Northern Territory, a mining friendly jurisdiction. The Project area is 180 km to the south-east of the population centre of Borroloola. The capital city of Darwin is 870 km to the north-west and the McArthur River Mine is approximately 150 km to the west-northwest.

About Northern Cobalt Ltd

Northern Cobalt Ltd is an emerging resource company engaged in the acquisition, exploration and development of cobalt mineral projects. The company is led by an experienced and diverse board of directors and management team with proven success in corporate finance, operational management, engineering and exploration project management. Their combined experience and commitment provides Northern Cobalt with the tools to capitalise on the growing demands of the cobalt and energy storage markets.

WWW.NORTHERNCOBALT.COM.AU

EMAIL US

67 GOODWOOD ROAD WAYVILLE SA 5034 AUSTRALIA

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DISCLAIMER AND COMPETENT PERSONS STATEMENT

This presentation has been prepared by Northern Cobalt Limited (Northern Cobalt). This document contains background information about Northern Cobalt current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sales of shares or other securities in any jurisdiction. This presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission (ASIC)) or any other law. This presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice) and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Northern Cobalt, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise are accepted.

these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, Northern Cobalt does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward looking statement is based. The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Michael Schwarz who is a member of the Australian Institute of Geoscientists. Mr Michael Schwarz is a full-time employee of the company and 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 ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Michael Schwarz consents to the inclusion in the report of the matters based on his information in the form in which it is appears.

This report contains historical exploration results announced on 20 September 2017 as “Prospectus” (historical estimate). The Company confirms it is not in possession of any new information or data relating to the historical estimate that materially impacts on the reliability of the estimates or the Company’s ability to verify the historical estimate. Supporting information provided in the announcement of 20 September 2017 continues to apply and has not materially changed. This report also contains exploration results announced on 24 November 2017 as “High Grade First Drill Results - Stanton Cobalt Deposit”, 29 November 2017 as “Further High Grade Cobalt Results - Stanton Cobalt Deposit” and 7 December 2017 as “Stanton Cobalt Resource Remains Open in Multiple Directions”

This presentation may include forward-looking statements. Forwardlooking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Northern Cobalt. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given

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CORPORATE OVERVIEW

Len Dean Chairman

Metallurgist, experienced ASX Chairman BHP Marketing Director Iron Ore and Group General Manager Minerals Marketing. MD of India’s largest listed Iron Ore Company. Over 50 years industry experience.

Michael Schwarz Managing Director

Michael has over 20 years’ senior experience in mineral exploration spanning industry and government as a geologist and in senior management. Michael was previously Managing Director of Monax Mining (ASX:MOX) and has held Directorships with several ASX listed exploration companies.

Duncan Chessell Executive Director

Business Development Manager, Project vendor representative (Coolabah Group) with 20+ years experience in business and oil, gas and mineral exploration.

BSc, MAusIMM, GAICD.

Andrew Shearer Director

Resource Analyst with PAC Partners (Lead Manager on IPO), Corporate Advisor, Geophysicist with a technical and corporate background. BSc (Hons), MBA

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Capital Structure 27th February 2018	Capital Structure 27th February 2018
Ordinary Shares (m) Market Capitalisation (A$m) – 45 cents Cash (A$m)(31/12/2017)	40.0 $18.0 $2.4
Options ($0.20/sh, 14/9/19) (m) Options ($0.25/sh, 6/9/21) (m) Options ($0.25/sh, 21/3/21) (m)	7.0 5.8 6.5
Performance Shares - Class A (m)	9.6
Performance Shares - Class B (m)	3.6

Performance Shares on JORC Code Project Milestones Class A: upon 6,000t contained Co equivalent Class B: upon 15,000t contained Co equivalent

ASX : N27

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COBALT DEMAND DRIVER

ELECTRIC VEHICLE INVESTMENT IS RAMPING UP

Li-ion (cobalt) batteries are suited to electric vehicles, where weight and energy density are important factors.

• China announced its intention to phase out the production and sale of gas and diesel vehicles altogether

• Norway agreed to end sales of petrol and diesel cars by 2025

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The Tesla Model S Source: www.tesla.com
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• Netherlands voted through a motion to end all petrol and diesel car sales by 2025

• India announced that it would end sales of petrol and diesel cars by 2030

• Scotland announced it would phase out petrol and diesel cars by 2032

• France announced it would end sales of petrol and diesel cars by 2040

• Britain announced it would end sales of petrol and diesel cars by 2040

COUNTRIES INVESTING IN ELECTRIC VEHICLES

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LOCATION, MINERALISATION STYLE

Wollogorang Cobalt Project, Northern Territory

Arunta Lithium, REE Project, Northern Territory

N27’s Wollogorang Cobalt Project is a sediment hosted cobalt mineralisation system which has potential for low CAPEX and OPEX options due to:

• Non-refractory mineralisation (predominantly siegenite - a cobalt sulphide mineral)

• Cobalt dominant mineralisation occurs from surface to 90m depth (shallow)

• Flat lying sediment hosted mineralisation - likely open pit operations

THE STANTON COBALT DEPOSIT IS IN THE NORTHERN TERRITORY, AUSTRALIA

• Occurs in a supportive first-world mining jurisdiction

NORTHERN COBALT has recognised the growing importance of cobalt sourced from developed world jurisdictions

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EXPLORATION POTENTIAL – CRAE Drilling

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Stanton Deposit
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WOLLOGORANG PROJECT – 1990’S RESOURCE

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Plan of Stanton Deposit Drilling, Interpreted Faults and Domains

JORC 2012 compliant resource of: 500,000t @ 0.17% Co, 0.09% Ni and 0.17% Cu (based on 1990’s CRA drilling)

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Cross Section Showing Drilling, Domains and Open Pit Optimisation

Mineralisation is separated by oxidation state

• Oxide mineralisation – Asbolane (hydated oxide of manganese and cobalt)

• Sulphide mineralisation – Siegenite (Ni,Co)3S4 (cobalt–nickel sulphide)

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WOLLOGORANG PROJECT - GEOLOGY

Oxide mineralisation

Sulphide mineralisation - below base of oxidation

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Asbolane

Siegenite (Ni,Co)3S4

Mn[4+] (O,OH)[2] .(Co,Ni,Mg,Ca)x(OH)[2x] .nH2O

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RESOURCE DRILLING– Stanton Cobalt Deposit

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RESOURCE DRILLING– Stanton Co Deposit

• (historical drilling CRA, 1990’s)

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RESOURCE DRILLING– Stanton Co Deposit

(historical drilling CRA, 1990’s)

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RESOURCE DRILLING– Stanton Co Deposit

(historical drilling CRA, 1990’s)

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RESOURCE DRILLING– Stanton Co Deposit

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(historical drilling CRA, 1990’s)
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STANTON RESOURCE CALCULATION

Historic resource from 1990’s CRA drilling

New resource calculation

• Due to be completed late March 2018

• Historic JORC 2012 resource of 500,000t @ 0.17% Co, 0.09% Ni and 0.17% Cu

• Calculated using a cobalt price of $US 47,000/tonne

• Current price is $US 82,000 /tonne

• Drilling has intersected mineralisation outside of the current resource boundary

• A second, deeper, zone of mineralisation, has been well defined

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• Mineralisation remains open to the NW and S-SE

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WOLLOGORANG PROJECT - GEOLOGY

Oxide mineralisation

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Sulphide mineralisation

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Diamond Core Assay

• Due to be received late March 2018

• Results from 10 drill holes mainly through the high grade core of the deposit

• Used to select samples for metallurgy

Metallurgical Test Work

• Due to be completed mid June 2018

• Aim to initially undertake a dense media separation (DMS) from oxide zone to produce a concentrate with low initial CAPEX and footprint

• Next stage is to look at enhanced recovery of sulphide zone and consider value adding to intermediate products rather than producing a concentrate

Scoping Study

• Due to be received late June 2018

• Will provide a basis for determining the minimum resource required for a viable economic operation

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EXPLORATION POTENTIAL – Wollogorang Project

New Exploration Method:

• Use Toyota air core rig for initial shallow drill testing to 40m

• Get results immediately with pXRF

• Define extent of new mineralisation

• Rapid, low cost, target assessment

• Undertake resource drilling with larger RC drill rig

• Aim to commence mid April, weather permitting

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+
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Top 37 of 120 drill targets shown

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EXPLORATION PLAN

	RESOURCE
	CALCULATION				DRILLING ROUND 2
	QAQC
	Resource recalculation				Drill test regional targets
	Receive results from				Drill resource extensions
	regional drilling				Drill test large stratiform
	Commence scoping				targets
2018	study					2019
WET SEASON DEC - JAN	JAN - FEB		METALLURGY MAR - JUN		APR- NOV	REVIEW DEC - JAN
Receive all resource			Results from metallurgy			Calculate new global
drilling results			Resource recalculation			resource estimate and
			Inferred to indicated			plan accordingly.
			Scoping study results

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SELBY COBALT PROJECT

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Stratiform cobalt exploration target

• Potential for high tonnage cobalt mineralisation beneath Selby targets

• Mineralisation model suggests stratiform hosted cobalt mineralisation beneath Karns Sandstone

• Geochemical indicators fingerprint cobalt mineralisation at depth

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USES OF STRATEGIC METALS

Lithium – used in Li-ion batteries

• Electric vehicles

• • Consumer electronics • Power tools

Tantalum – used in electronic components

• Mobile phones

• Computers

• Automotive electronics

Lanthanum – Ni-Metal hydride batteries

• Hybrid electric vehicles

Neodymium and Praesidium – used in high intensity electric motors

• Electric vehicle motors

• Electric generators for wind turbines

• • Power tools

Niobium – used with cobalt in high temp superalloys

• Jet engines

• • Turbochargers

• Turbines

THE ARUNTA LITHIUM PROJECT IS IN THE NORTHERN TERRITORY, AUSTRALIA

• Also used in superconducting magnets

NORTHERN COBALT has

recognised the growing importance of strategic metals in the technology and renewable energy sectors

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ARUNTA PROJECT - TENEMENTS

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Northern Cobalt has acquired 100% interest in 9 tenements and made application for 4 adjoining tenements

Alcoota Pegmatite Field

• Prospective for Li-Cs-Ta as evidenced by sampling from the nearby Spotted Wonder Prospect

• A rock chip at Kingston Resources’ (KSN) prospect returned a value of 10.2% Li2O (reported by KSN on 7/6/2017) from a sample of pegmatite containing amblygonite

• Identified a new zone of pegmatites 12 km long by up to 2 km wide

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ARUNTA PROJECT - TENEMENTS

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Newly identified pegmatite zone, 12 km long by up to 2 km wide

A recent field trip has confirmed the presence of significant pegmatites across the tenement package

12 km x 2 km

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ARUNTA PROJECT - TENEMENTS

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Northern Cobalt has acquired 100% interest in 9 tenements and made application for 4 adjoining tenements

Harts Range Pegmatite Field

• Over 100 pegmatites interpreted from satellite imagery

• Contains a number of existing REE prospects

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ARUNTA LITHIUM PROJECT - EXPLORATION PLAN

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MAPPING AND SAMPLING
GEOPHYSICS
Geological mapping Test drill targets GPR
Rock chip sampling
2018 2019
DEC - JAN FEB-MAR APR-JUN JUL-SEPT OCT - JAN
DRILLING
EXPLORATION PLANNING RESULTS
Soil sampling Assess drilling results
Exploration data
review Results from sampling Plan further drilling
Geophysical data Infill sampling on prospects
review Drill target generation
Exploration planning
Drilling applications (EMMP)
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NEWS FLOW - 2018

	WOLLOGORANG COBALT PROJECT	SELBY/KARNS COBALT PROJECT	ARUNTA LITHIUM PROJECT
MARCH	RESOURCE CALCULATION FEB - DIAMOND CORE ASSAYS AEROMAGNETIC SURVEY EXTENSION		MAPPING
APR- MAY	DRILLING COMMENCES GROUND PENETRATING RADAR
JUNE	METALLURGY SCOPING STUDY RESULTS	GEOPHYSICAL SURVEYS	GEOPHYSICAL SURVEYS SOIL SAMPLING
JULY-AUG	RESOURCE DRILLING (results dependant)
SEPT-DEC		EXPLORATION DRILLING	EXPLORATION DRILLING
2019

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