RIEDEL RESOURCES LIMITED — AGM Information 2018

Nov 22, 2018

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European Energy and Strategic Metals Focus

ASX:RIE Annual General Meeting November 2018

Disclaimer

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Any forward looking statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside Riedel Resources (“Riedel”) control. Important factors that could cause actual results to differ materially from the assumptions or expectations expressed or implied in this presentation include known and unknown risks. Because actual results could differ materially to the assumptions made and Riedel’s current intentions, plans, expectations and beliefs about the future, you are urged to view all forward looking statements contained in this presentation with caution. This presentation should not be relied upon as a recommendation or forecast by Riedel. Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities in any jurisdiction.

This Presentation is not intended to provide the sole basis of any investment decision or other evaluation. Each recipient hereof contemplating an investment in the securities of Riedel shall make, or shall be deemed to have made, their own independent investigation of Riedel and related documentation and their own appraisals of the prospects and merits or the Company and its assets described herein.

All forecasts, facts, information, estimates and other statements of opinion contained in this Presentation have been prepared solely by, or on the basis of, information supplied to Riedel. While the information contained herein is believed to be true and accurate, we expressly disclaim any and all liability for representations or warranties, expressed or implied, contained herein, or in any other written or oral communications transmitted or made available to any prospective investor.

No representation or warranty is made by Riedel that forecasts, projections, business goals or estimates contained herein will be achieved. This Presentation speaks as of the date hereof. Neither the delivery of the Presentation nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Company after the date hereof.

Competent Person's Statement

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Jeffrey Moore, who is a Member of The Australian Institute of Geoscientists. Mr Moore is an employee of Riedel Resources Limited. Mr Moore has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moore consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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Corporate Overview

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ASX ORDINARY OPTIONS CASH SHARE TOP 20 CODE SHARES ($0.018 2019) (AT 30/09/18) PRICE HOLDERS RIE 418M 18M $1.63M $0.018 69.3%

BOARD & MANAGEMENT

Non-Executive Chairman

Executive Director

Mr Grant Mooney Corporate/Strategy Mr Jeffrey Moore Geologist

Non-Executive Director

Mr Scott Cuomo Corporate/Strategy

Non-Executive Director

Mr Alexander Sutherland Mining Europe (Norsk Hydro)

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– Significant Events The Year In Summary

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• Spain 21 July 2017

JV Agreement signed with SIEMCALSA whereby Riedel can earn-in interests of up to 90% in the Cármenes Cobalt-Copper Project, with provision for Riedel to acquire the remaining 10% interest

• Corporate August 2017

Successful completion of Rights Issue to raise $1,403,572 (before costs) by the issue of 93,571,495 shares of Riedel

• Spain 2017-2018

Significant exploration completed using modern exploration techniques including ground geophysics (radiometrics and IP surveys), detailed structural mapping, rock chip sampling and ion-leach soil geochemistry - project area previously largely untested by modern exploration techniques

• Western Australia May 2018

Completion of A$500,000 Charteris Creek Project sale to LMTD Wits Pty Ltd, providing Riedel with additional funding for exploration activities at the Cármenes Project

• Western Australia May 2018

Australian Mines Limited increased its interest in the Marymia Gold and Copper Project to 80% by completing total project expenditure of A$3M

• Spain July 2018

Year 1 JV commitment met by expenditure in excess of €300,000 at the Cármenes Project

• Spain July-August 2018

Four-hole diamond drilling programme completed at and around Profunda Mine

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Projects Portfolio

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Cármenes Project Spain

Cármenes Project Rationale

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Focused on ethically sourced European technology and strategic metals projects with significant exploration and near-term development potential

• Proven historical production with outstanding cobalt concentrate grades of up to 14% recorded

• Value of metal (Co-Cu-Ni) produced from historic La Profunda Mine alone in excess of A$400 million at current metal prices

• Significant exploration upside - 95% of project area untested by modern exploration techniques prior to Riedel exploration

• Mining friendly jurisdiction and responsible source of cobalt supply

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- MiningHistory: 1870 1890

• ⚒ Significant high grade Cobalt-Copper mine discovered at La Profunda (~1870)

• ⚒ Historical mining at La Profunda between 1870 to 1890 produced in excess of 100,000 tonnes of ore for 38,000 tonnes of high-grade Cobalt and Copper concentrates

• ⚒ Concentrate streams achieved the following exceptional grades:

  • Dual concentrate streams

    • ⁃ Cobalt concentrate

14% Co plus 4% Ni and 5-6% Cu

  - `⁃` _Copper concentrate_ 

     - _33% Cu plus 1% Ni_ 

• Single concentrate stream of 4% Co and 20% Cu

• ⚒ Value of metal (Co-Cu-Ni) in concentrate produced from single historic mineralised ‘ore-pipe’ at La Profunda at current metals prices in excess of A$400 million

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- A History of High Grade Mining: 1906 1931

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• ⚒ Primary phase of mining operations at Davina Providencia mine took place between 1906 to 1914

• ⚒ In 1924 Metalúrgica del Cobre y Cobalto S.A. recommenced mining operations at La Profunda mine

• ⚒ Significant investment was made into a new ‘modern’ concentrator and electrolytic extraction (hydrometallurgical) facility with increased capacity

• ⚒ Ore transported to new facility by sophisticated aerial cableway transportation system

• ⚒ Plant closed in 1931 due to the Great Depression, later impacted by the mid-1930’s Spanish Civil War

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Cármenes Project Highlights

• Located in northern Spain, 54km from city of Leon

• Covers 42.3km² containing historic high grade cobalt/copper/nickel/gold mines

• Numerous high-order targets generated from multifaceted modern exploration techniques may point to new non-outcropping high-grade deposits

• Four-hole diamond drilling program completed at and near to the historic La Profunda Mine with highgrade potential illustrated by drill hole CMN-3 which intersected:

  • 1.95m @ 7.72% Cu, 0.11% Co, 0.09% Ni, 0.44% U and 0.24% Zn from 136.15m; including

  • 0.90m @ 16.45% Cu, 0.21% Co, 0.17% Ni, 0.96% U and 0.52% Zn from 136.15m

immediately below a seven metre previously mined “stope”

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Key Prospect Areas and Exploration Work

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Multi-faceted exploration approach

• Ground geophysics

PDIP – 34 lines for 14.9 km GAIP – 33 lines for 8.2 km Radiometrics – 8,694 data points Magnetics – 23.8 line km TEM – 2 lines for 0.8 km

• Petrography – 10 samples

• Road access cutting – 4.5 km

• Geological Mapping/Structural Mapping

• Ion Leach Soil Geochemistry – 360 soil samples

• Drilling – 4 diamond drill holes for 1,030 m

• Downhole geophysics – IP and radiometry in CMN-3 and CMN-4

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Diamond Drilling Programme

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----- Start of picture text ----- 6.1m @ 0.14% Cu0.75m @ 0.93% Cu1.95m @ 7.75% Cu, 0.11% Co,0.09% Ni, 0.44% U, 0.24% Zn0.9m @ 16.45% Cu, 0.21% Co,0.17% Ni, 0.96% U, 0.52% Zn----- End of picture text -----

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Downhole Geophysics and Anomalies

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– Radiometric Surveys Profunda Trend

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– IP and Magnetic Surveys Profunda Trend

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----- Start of picture text ----- Excised areaGround magneticsIP linesRadiometric target----- End of picture text -----

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– Radiometric Surveys Regional

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Next Steps

Integrate all new data into a standardised database Full data and project review underway to determine the most effective exploration methodologies to prioritise target areas and next exploration steps

RIEDEL RESOURCES LIMITED ACN: 143 042 022 P: +61 (08) 9226 0866 E: j.moore@riedelresources.com.au Suite 1, 6 Richardson Street WEST PERTH 6005

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