RESOLUTION MINERALS LTD — Investor Presentation 2018

Feb 27, 2018

==> picture [177 x 94] intentionally omitted <==

INVESTOR PRESENTATION FEBRUARY – MARCH 2018

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.

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 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”

==> picture [106 x 24] intentionally omitted <==

NORTHERN COBALT’S NO. 1 FOCUS THIS YEAR IS “TO DISCOVER MORE COBALT TONNES IN THE GROUND”

==> picture [20 x 75] intentionally omitted <==

----- Start of picture text -----

P A G E 3
----- End of picture text -----

==> picture [106 x 24] intentionally omitted <==

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

==> picture [55 x 82] intentionally omitted <==

==> picture [55 x 82] intentionally omitted <==

==> picture [55 x 83] intentionally omitted <==

==> picture [55 x 82] intentionally omitted <==

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

==> picture [106 x 24] intentionally omitted <==

THE COBALT ISSUE = THE COBALT OPPORTUNITY

The price of cobalt has increased from US$25,000/t in 2016 to US$82,000/t in February 2018. But is still well below the 2008 high of $115,000/t*

*Source: www.infomine.com

==> picture [106 x 24] intentionally omitted <==

==> picture [106 x 24] intentionally omitted <==

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

==> picture [386 x 200] intentionally omitted <==

----- Start of picture text -----

The Tesla Model S Source: www.tesla.com
----- End of picture text -----

• 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

==> picture [719 x 69] intentionally omitted <==

----- Start of picture text -----

COUNTRIES INVESTING IN ELECTRIC VEHICLES
----- End of picture text -----

==> picture [106 x 24] intentionally omitted <==

PROJECTS & PLAN

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

==> picture [106 x 24] intentionally omitted <==

EXPLORATION POTENTIAL – CRAE Drilling

==> picture [559 x 469] intentionally omitted <==

----- Start of picture text -----

Stanton Deposit
----- End of picture text -----

WOLLOGORANG PROJECT – 1990’S RESOURCE

==> picture [373 x 272] intentionally omitted <==

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)

==> picture [366 x 193] intentionally omitted <==

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)

==> picture [106 x 24] intentionally omitted <==

WOLLOGORANG PROJECT - GEOLOGY

Oxide mineralisation

Sulphide mineralisation - below base of oxidation

==> picture [365 x 274] intentionally omitted <==

==> picture [356 x 274] intentionally omitted <==

Asbolane

Siegenite (Ni,Co)3S4

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

==> picture [106 x 24] intentionally omitted <==

RESOURCE DRILLING– Stanton Cobalt Deposit

==> picture [504 x 452] intentionally omitted <==

==> picture [106 x 24] intentionally omitted <==

RESOURCE DRILLING– Stanton Co Deposit

==> picture [677 x 350] intentionally omitted <==

----- Start of picture text -----

(historical drilling CRA, 1990’s)
----- End of picture text -----

==> picture [106 x 24] intentionally omitted <==

RESOURCE DRILLING– Stanton Co Deposit

==> picture [695 x 373] intentionally omitted <==

----- Start of picture text -----

(historical drilling CRA, 1990’s)
----- End of picture text -----

==> picture [106 x 24] intentionally omitted <==

RESOURCE DRILLING– Stanton Co Deposit

(historical drilling CRA, 1990’s)

==> picture [106 x 24] intentionally omitted <==

RESOURCE DRILLING– Stanton Co Deposit

• (historical drilling CRA, 1990’s)

==> picture [106 x 24] intentionally omitted <==

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

==> picture [406 x 206] intentionally omitted <==

• Mineralisation remains open to the NW and S-SE

==> picture [106 x 24] intentionally omitted <==

WOLLOGORANG PROJECT - GEOLOGY

Oxide mineralisation

==> picture [258 x 199] intentionally omitted <==

Sulphide mineralisation

==> picture [266 x 200] intentionally omitted <==

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

==> picture [106 x 24] intentionally omitted <==

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

==> picture [492 x 158] intentionally omitted <==

----- Start of picture text -----

+
----- End of picture text -----

Top 37 of 120 drill targets shown

==> picture [106 x 24] intentionally omitted <==

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
DEC - JAN	JAN - FEB		MAR - JUN		APR- NOV	DEC - JAN
WET SEASON			METALLURGY			REVIEW
Receive all resource			Results from metallurgy			Calculate new global
drilling results			Resource recalculation			resource estimate and
			Inferred to indicated			plan accordingly.
			Scoping study results

==> picture [106 x 24] intentionally omitted <==

SELBY COBALT PROJECT

==> picture [235 x 309] intentionally omitted <==

==> picture [398 x 316] intentionally omitted <==

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

==> picture [106 x 24] intentionally omitted <==

USES OF STRATEGIC METALS

==> picture [400 x 329] intentionally omitted <==

----- Start of picture text -----

THE ARUNTA
----- End of picture text -----

LITHIUM PROJECT IS IN THE NORTHERN TERRITORY, AUSTRALIA

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

• Also used in superconducting magnets

NORTHERN COBALT has

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

==> picture [106 x 24] intentionally omitted <==

ARUNTA PROJECT - TENEMENTS

==> picture [465 x 465] intentionally omitted <==

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

==> picture [106 x 24] intentionally omitted <==

ARUNTA PROJECT - TENEMENTS

==> picture [445 x 334] intentionally omitted <==

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

==> picture [106 x 24] intentionally omitted <==

ARUNTA PROJECT - TENEMENTS

==> picture [465 x 441] intentionally omitted <==

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

• • Rock chip samples have returned up to 12% Ce and 7% La at the Holsteins REE prospect

==> picture [106 x 24] intentionally omitted <==

ARUNTA LITHIUM PROJECT - EXPLORATION PLAN

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)

==> picture [106 x 24] intentionally omitted <==

NEWS FLOW - 2018

		WOLLOGORANG COBALT PROJECT	SELBY/KARNS COBALT PROJECT	ARUNTA LITHIUM PROJECT
MARCH	FEB -	RESOURCE CALCULATION 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

==> picture [106 x 24] intentionally omitted <==

==> picture [253 x 134] intentionally omitted <==

POWERING THE FUTURE

www.northerncobalt.com.au 67 Goodwood Rd, Wayville, Adelaide, South Australia 5034

mschwarz@northerncobalt.com.au +61 402 101 790 (Michael Schwarz)