RESOLUTION MINERALS LTD — Regulatory Filings 2020

Mar 1, 2020

Resolution Minerals PDAC 2020 Investor Presentation

Resolution Minerals Ltd (Resolution, RML or the Company), is pleased to update the market with an Investor Presentation "PDAC 2020 Investor Presentation", PDAC is the world's premier minerals and mining conference in Toronto, Canada.

A video of the presentation by Managing Director Duncan Chessell is available via the Company's Website.

Resolution Minerals Ltd (formerly Northern Cobalt Ltd ASX:N27) is a precious and battery metals mineral explorer with gold focussed flagship 64North Project in Alaska, the Wollogorang Cu-Co Project in Australia which includes the Stanton Cobalt Deposit and Snettisham Ti-V-Fe (Magnetite) Project in southern Alaska.

Resolution confirms that the Company is not aware of any new information or data that materially affects the information reported in this announcement.

For further information please contact the authorising officer:

Resolution Minerals Ltd M: +61 414 804 055

E: duncan@resolutionminerals.com

Duncan Chessell Follow RML on LinkedIn or Twitter Managing Director or visit our website www.resolutionminerals.com

CAPITAL STRUCTURE

Ordinary Shares Issued 204.8 M

Options and rights

Listed options 6.1 M @ 10c Unlisted options 12.3 M @ 25c Unlisted options 15.0 M @ 6c Unlisted rights 7.0 M

Performance Shares Class A 9.6 M Class B 3.6 M

Last Capital Raise February 2020– Placement \$4.5M @ 5c

BOARD

Len Dean - Chair Duncan Chessell - MD Andrew Shearer - NED Jarek Kopias - Co Sec

28 Greenhill Road, Wayville SA 5034

INVESTOR PRESENTATION

PDAC 2020 2 March 2020

CORPORATE SNAPSHOT

Len Dean Chairman

Non-Executive; 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 45 years industry experience.

Duncan Chessell Managing Director

Full time; Co-founder, geologist, with 20+ years experience in business and oil, gas and mineral exploration (gold and base metals). Expert in remote & cold weather logistics. BSc, MAusIMM, GAICD.

Andrew Shearer Director

Non-Executive; Resource Analyst with PAC Partners (Lead Manager on IPO), Corporate Advisor, Geophysicist with a technical and corporate background. Currently also a Non-Executive Director of Andromeda Metals (ASX:ADN).

Technical Team

Dr Justin Gum - Contract Principal Geologist

• Credited with the discovery of the world class Callie gold deposit (NT),
• Worked throughout Australia in gold and base metals systems, 30-years experience

Christine Lawley - Exploration Manager

• 15 years' experience in gold, base metals and mineral sands exploration throughout Australia.

Kelvin Blundell - Consulting geophysicist

• Was Sandfire's consulting geophysicist for the significant DeGrussa Cu-Au massive-sulphide discovery.
• 20 years experience in Australia, Canada and Africa

Capital Structure 1 March 2020
Ordinary Shares (m)	205
Market Capitalisation (A\$m) – 6.5 cents	\$13
Cash (A\$m) (Q4 2019 + \$4.5M Feb'20 placement)	\$5
Enterprise Value (A\$m)	\$8
Options (\$0.10/sh, 30/6/22) (m)	6.1
Options (\$0.25/sh, 6/9/21) (m)	5.8
Options (\$0.25/sh, 21/3/21) (m)	6.5
Options (\$0.06/\$0.08/\$0.10/sh, 30/11/22) (m)	15.0
Unlisted rights (m)	7.0
Performance Shares - Class A (m) (milestones on Wollogorang project)	9.6
Performance Shares - Class B (m) (milestones on Wollogorang project)	3.6

Projects

64North Project; Au; Fairbanks Alaska The 64North Project is adjacent to Northern Star's high grade world class operating Pogo Gold Mine with a 10M oz Au endowment. A brown fields project only 450m from recent discovery success by Northern Star. Drill ready targets with a strong pipeline of regional targets.

Wollogorang Project; Cu-Co; NT, Australia

Includes the Stanton Cobalt Deposit which has a inferred & indicated JORC 2012 resource containing 1200 tonnes of cobalt. Drill ready targets.

Snettisham Project: V-Ti-Fe, Au; Juneau, Alaska.

3D magnetic geophysics inversion model and rock chips has identified a conceptual target of highly ferrous (Fe) near surface vanadium bearing titaniferous magnetite body interpreted to be 2.5km long, 600m wide and at least 2km deep. Drill ready.

COMPANY TRANSFORMATION (17 October 2019)

AGREEMENT TO EARN UP TO 80% OF THE 64NORTH PROJECT, ALASKA

• Highly leveraged gold exploration investment opportunity, adjacent to the operating world class high grade Pogo Gold Mine, owned by Northern Star (ASX:NST)
• The Company has executed a binding term sheet with Millrock Resources Inc (TSXV: MRO) to earn up to an 80% interest in the 64North Project in Alaska
• The 64North Project surrounds Northern Star's (ASX:NST) operating Pogo Mine, which has:
• Produced 4 Moz gold @ 13.6g/t @ 300koz pa, to date;
• Current Reserve/Resource of over 6 Moz Au (ASX:NST Announcement 19/9/2019)
• Drilling preparation completed for maiden 2,000m diamond drilling, to commence early March 2020
• High priority targets immediately adjacent to the recent NST announced Goodpaster Discovery
• Goodpaster Discovery reported as "2.3km strike open in all directions" and within 450m of the claim boundary. (NST ASX release 16/9/2019)
• Alaska ranked #4 in the world for mining by the Fraser Institute (2019)
• "The best place to find a deposit is next to an existing one!"

64NORTH PROJECT

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TINTINA GOLD PROVINCE –GOODPASTER GOLD DISTRICT

Province Gold System

• 100m+ oz Au Endowment
• 80-102 Ma Age main mineralizing event

Fairbanks Area

Pogo Gold Mine 10M oz endowment

• Owned by Northern Star, Pogo has produced 4m oz Au @ 13.6g/t Au via high grade underground mining operations ~300,000oz pa; with 4 new discoveries announced, lies120km from Fairbanks - second largest city in Alaska.

Fort Knox Gold Mine 13M oz Au endowment

• Owned by Kinross Gold is located 42km North of Fairbanks. Fort Knox has produced 8moz of gold since 1996 and continues to this day via an open pit mining operation supported by a CIP process plant and a heap leach system, producing 200k oz Au in 2019. The current Reserves of 2.8M oz @ (only) 0.3g/t is typical of the large tonnage low grade near surface IRGS systems of the Tintina belt.

64NORTH – TENEMENTS & PROSPECTS/BLOCKS

Large land position surrounding Pogo Gold Mine

• 1,174 State mining claims
• 660 km2

Pogo Gold Mine Northern Star ASX:NST

• 10 M oz gold endowment with exploration upside at the Pogo Gold Mine, with 4 new discoveries announced by ASX:NST
• Production 300,000 oz Au /yr
• Total mine life production to date 4m oz Au @ 13.6g/t Au and still operating

NORTHERN STAR'S WORLD CLASS POGO GOLD MINE

Northern Star's Reserve, Resources & FY20 Production and Cost Guidance (ASX: NST 19-9-2019)

Exploration history

1991: First modern exploration commences as a JV Sumitomo Metal Mining & Teck, following up historic pan concentrate anomalies from the early '80s 1995: The key gold bearing Liese Zone (L1) was intersected 2000: Over 77,000m of drilling completed 2006: First production 2009: Sumitomo buys Teck's 40% stake for US\$245m 2009: 1st million Au ounces produced 2015: 3 million Au ounces total produced 2018: Northern Star purchase mine US\$260m 2019: Total production history 3.9M oz Au @ 13.1g/t Au 2019: Resource and reserve ~6M oz Au

2017-18: New discovery on the Good Paster Prospect and Central veins. The Goodpaster discovery is only 450m from RML's claim boundary; 57 holes for 35,900m drilling on this prospect to date. Much of the remainder of the district has seen little exploration.

Production Guidance Range FY2020

• 200-240,000 oz Au AISC US\$850-925/oz
• Planned increases to +30% capacity of throughput of plant to 1.3Mtpa over by Jan 2021 and decrease costs 25%

POGO STYLE – MINE MINERALISATION MODEL

Low Angle Veins (Liese 1-3, East Deep)

• These veins contain the bulk of the ore at Pogo
• 5-20 m thick
• Hosted in regional shear zone compression with later extension for more dilation
• Shear exploits mafic and graphitic rocks within gneiss

High Angle Veins (North Zone, X-Vein)

• Previously not important sources of ore
• 1-5 m thick N-S/NE-SW oriented escape structures for plutonic fluids
• Thought to be feeder structures

Other characteristics of Pogo

• Free milling gold
• Low sulfide quartz veins
• ~ 3% pyrite, arsenopyrite, pyrrhotite, Bi-Te-S
• Dolomite-sericite alteration halo
• Magmatic fluid source

• Serpentinite, amphibolite
• Graphitic schist

64NORTH – CAMP SCALE POTENTIAL, MULTIPLE PROSPECTS

Camp Scale Potential:

• Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Province
• 10 M oz gold endowment (Pogo) with exploration upside at the Pogo Gold Mine, with 4 new discoveries announced by ASX:NST
• Strong geochemical signatures of mineralisation throughout the district
• Evidence in historic drilling of vertical feeder zones close to Aurora Targets
• New understanding of Pogo-style mineralisation and how to target it

Exploration Database represents

US\$15 million in expenditure 1998-2012

• ~40,000 Surface Samples
• 11,434 m of NQ core drilling
• Airborne Magnetics & EM

64NORTH – THE RIGHT GEOLOGY AND STRUCTURES

IRGS Intrusion Related Gold System

• Intrusive granite (marked pink) and diorite rocks are present through out the district. These hot rocks drive the fluid flow allowing gold to move around and mineralisation to concentrate in structural or chemical traps.
• Pogo is just the beginning for this potential camp scale gold system (surface expression of Pogo is indicated with yellow).

Structures

• Vertical structures are present to move fluids upwards from hot intrusive granites and diorites (red lines on map).
• A regional NW shear zone strained the host rocks creating dilational spaces which allows mineralised fluids to deposit bonanza grades of gold at Pogo.

64NORTH – WEST POGO BLOCK: TICKS ALL THE BOXES

• þ Right Geology Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province
• þ Brown fields next to Pogo Gold Mine
• þ Same rocks as Pogo Mine
• þ Large structures potential fluid pathways
• þ Highly anomalous surface geochemistry – soils, streams and rock chips

64NORTH – WEST POGO BLOCK: TICKS ALL THE BOXES

• þ Right Geology Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province
• þ Brown fields next to Pogo Gold Mine
• þ Same rocks as Pogo Mine
• þ Large structures potential fluid pathways
• þ Highly anomalous surface geochemistry – soils, streams and rock chips
• þ Evidence of vertical feeder systems typical of Pogo-style mineralisation in historic drilling (western end of valley), mapping and geochem samples

64NORTH – WEST POGO BLOCK: AURORA, ECHO TARGETS

• þ Right Geology Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province
• þ Brown fields next to Pogo Gold Mine
• þ Same rocks as Pogo Mine
• þ Large structures potential fluid pathways
• þ Highly anomalous surface geochemistry – soils, streams and rock chips
• þ Evidence of vertical feeder systems typical of Pogo-style mineralisation in historic drilling (western end of valley), mapping and geochem samples
• þ Geophysics strongly demagnetised zone the mirror of Goodpaster & Pogo
• þ Geophysics CSAMT survey, indicate same conductors on RML ground

LINE 6 CSAMT - DRILL TARGETING, AURORA & ECHO TARGETS

64NORTH – WEST POGO BLOCK: AURORA TARGETS

• þ Right Geology Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province
• þ Brown fields next to Pogo Gold Mine
• þ Same rocks as Pogo Mine
• þ Large structures potential fluid pathways
• þ Highly anomalous surface geochemistry – soils, streams and rock chips
• þ Evidence of vertical feeder systems typical of Pogo-style mineralisation in historic drilling (western end of valley), mapping and geochem samples
• þ Geophysics strongly demagnetised zone mirror of Goodpaster & Pogo
• þ Geophysics CSAMT survey, indicate same conductors on RML ground
• þ Access Road constructed
• þ Water well drilled
• þ Drilling permits issued
• þ Drilling to commence March, 2020

64NORTH PROJECT- O PE RATI O NS PL AN YE AR O NE

2019-2020	Q 4	Q1	Q2	Q 3	Q4
Activity	2019	2020
Historic data merge
Desktop review
ELF-EM / Geophysics	Aurora		Echo
Historic core recovery
Geochem soils, stream seds
Geological mapping
Build road
Water well
Drilling phase one		Aurora	Aurora	Echo
Follow up drilling			Aurora	Aurora	Echo
Drilling assays
*all drilling programs continuation subject to results and logistics
Legend
Desktop review	Infrastructure		Geophysics/Mapping
Assays,	Drilling		Geochem, other

Drilling programs commencing from Q1, 2020

• Aurora Targets first program: four or five (4-5) holes for ~2,000m EARLY MARCH
• Aurora Targets second program: four (4) holes for 1,800m
• Echo Targets first program: four (4) holes for 1,900m

EAGLE BLOCK – E1 PROSPECT

The E1 Prospect is not a Pogo-style mineralisation. It is interpreted to be intrusion hosted IRGS system.

Potential for large scale intrusion hosted IRGS system more typical of Alaska than Pogo Style

Previous work identified significant intervals of

• 0.27m @ 14g/t Au from 243m EA04-08
• 0.21m @ 4.5g/t Au from 185m EA04-04
• 1.8m @ 3g/t Au from 13m EA04-03

Our continued work to ascertain alternative controls on mineralisation and identify the different mineral systems by methodical geochemical fingerprinting and other methods, is ongoing throughout the district.

Demonstrates

• Variability in geophysical signatures
• Variability in mineralisation style
• Multiple prospects in region
• District scale system
• Camp scale potential

64NORTH PROJECT AGREEMENT

SUMMARY OF EARN-IN AGREEMENT WITH MILLROCK RESOURCES (TSXV: MRO)

Stage	RML Expenditure US\$ (million)	% Earn in RML	Cash US\$ '000 to MRO	RML Shares to MRO (million)
Commence	-	-	-	5
Drilling Target	7,500m Drilling (Diamond Core)	5
Year 1	\$5	30%	\$50	10
Year 2	\$5	42%	\$50	10
Year 3	\$5	51%	\$50	4
Year 4	\$5	60%	\$50	4
Total	\$20	60%	\$200	38

Resolution (RML) can earn up to 80% on one block
Stage	RML \$commitment	% Earn	Details
BFS	Fully Fund	70% earn-in	US\$3 million on decision to mine
First	Loan Carry	80% earn-in	Profit share 80/20
Production

SUMMARY OF OTHER PROJECTS

THE WOLLOGORANG COPPER-COBALT PROJECT (AUSTRALIA)

• Stanton Cobalt Deposit Total Mineral Resource Estimate
• 942,000t @ 0.13% Co, 0.06% Ni and 0.12% Cu
• Significant IP anomalies defined under both Running Creek and Gregjo Prospects potential for Cu-Co with copper and cobalt mineralisation in shallow drilling above the IP anomalies
• Drilling approvals in place (Dry season is May-Dec)

THE SNETTISHAM PROJECT (ALASKA)

V-Ti-Fe, Au; Juneau, Alaska.

3D magnetic geophysics inversion model and rock chips has identified a conceptual target of highly ferrous (Fe) near surface vanadium bearing titaniferous magnetite body interpreted to be 2.5km long, 600m wide and attest 2km deep. Drill ready.

• Drilling approvals in place for proof of concept drilling of vanadium – magnetite target
• Reviewing project for gold potential, with three historic gold mines on the property

DISCLAIMER, JORC INFORMATION & COMPETENT PERSONS STATEMENT

This presentation has been prepared by Resolution Minerals Ltd (Resolution). This document contains background information about Resolution 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, Resolution, 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. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Resolution. 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, Resolution 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.

JORC Information

Additional details including JORC 2012 reporting tables, where applicable can be found in the following relevant announcements lodged with the ASX and the Company is not aware of any new data or information that affects the information included in the announcements listed below.

• Stanton Resource Upgrade Increases Contained Cobalt 9 April 2018
• Southern Alaskan Vanadium Project Acquired 19 December 2018
• Binding Agreement earning 80% of Gold Project in Alaska 17 October 2019
• Goodpaster Winter Drilling Preparations Underway 5 November 2019
• Drilling Preparations Underway in Alaska 22 November 2019
• AGM presentation 26 November 2019
• Operations Update 17 February 2020

Competent Persons Statement

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Duncan Chessell who is a member of the Australasian Institute of Mining and Metallurgy. Mr Duncan Chessell 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 Duncan Chessell consents to the inclusion in the report of the matters based on his information in the form in which it is appears and confirms that the data reported as foreign estimates are an accurate representation of the available data and studies of the material mining project. The Company is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource continue to apply and have not materially changed.

CONTACT

Authorised for release Duncan Chessell Managing Director Resolution Minerals Ltd ASX:RML +61 414 804 055

duncan@resolutionminerals.com Ground Floor 28 Greenhill Road Wayville SA 5034, AUSTRALIA www.resolutionminerals.com

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