RINCON RESOURCES LIMITED — Investor Presentation 2021

Nov 8, 2021

ASX:RCR Rincon Resources | 1

Targeting High Impact Gold & Copper Exploration Projects in Western Australia

CORPORATE PRESENTATION | NOVEMBER 2021 ASX:RCR

Disclaimer

This presentation and any accompanying verbal presentation (together the Presentation) and confidential information has been prepared by Rincon Resources Limited (Rincon or the Company) and approved by the Board of the Company. The information contained in the Presentation (Information) is a summary only and should be read in conjunction with any oral briefing and all other docu- ments provided to you by the Company. The Information is current as of 8 November 2021 and the Company does not undertake to provide any additional or updated information, whether as a result of new information, future events or results or otherwise. By receiving the Presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer.

The Company has prepared the Presentation based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Neither Rincon, its related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, agents or advisers (Agents) guarantee or make any representations or warranties, express or implied, as to or take responsibility for, the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Rincon does not represent or warrant that this Presentation is complete or that it contains all material information about Rincon or which a prospective investor or purchaser may require in evaluating a possible investment in Rincon or acquisition of shares. To the maximum extent permitted by law, Rincon and its Agents expressly disclaim any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of information contained in this Presentation, or otherwise arising in connection with it.

Any forward-looking statements in this Presentation, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of Rincon and which are sub- ject to change without notice and could cause the actual results, performance or achievements of Rincon to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and recipients of this Presentation are cautioned not to place undue reliance on such forward-looking statements.

The information contained in this Presentation is for information purposes only, does not constitute investment or financial product advice (nor taxation, accounting or legal advice) and is not intend- ed to be used as the basis for making an investment decision. In providing this Presentation, Rincon has not considered the objectives, financial position or needs of any particular recipients. Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances.

This Presentation is not a prospectus, product disclosure statement or other offering document under Australian law or any other law (and will not be lodged with the Australian Securities and Invest- ments Commission or any other foreign regulator) and is not, and does not constitute, an invitation or offer of securities for subscription, purchase or sale in any jurisdiction. In particular, this Pre- sentation does not constitute an invitation or offer of securities for subscription, purchase or sale in the United States or any other jurisdiction in which such an offer would be illegal. The securities referred to in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly in the United States.

The information in this Presentation is strictly confidential. It may not be disclosed, reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of Rincon.

Competent Person's Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Gary Harvey. Mr Harvey is a member of the AIG and Managing Director of the Company. Mr Harvey has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Harvey consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Three 100% owned highly prospective Gold & Copper projects in Western Australia

Strategically positioned in the world class Paterson Province via the South Telfer asset

Significant exploration upside across two additional assets at Laverton & Kiwirrkurra

Large geophysical & geochemical programs completed identifying over 40 targets within asset portfolio

Committed exploration program: minimum 10,000 drill metres targeting high priority targets

Strong cash position: A$3.4million (as at 30 September 2021)

Strategy

Acquire highly prospective land positions near existing or prospective mining operations, apply extensive geological experience &technology to discover & grow commercial mineral deposits.

Board & Executives

Gary graduated from RMIT University with a Bachelor of Applied Science (Geology) &has over 25 years of experience in the resources sector working on gold & base metal (nickel/cobalt) projects in Western Australia. He is also a member of the AICD & the Australia Institute of Geoscientists.

Gary Harvey, Chief Executive Officer

27 years of international resource sector experience, operational roles include Project Manager, Senior Mine Geologist & Mine Geologist for Ivanhoe Mines, Lion Ore International & WMC. Previously he worked in Private Equity (FUM USD800million) &as a Director of Societe General's Mining Finance team in New York.

Geoff McNamara, Non-Executive Chairman

Geologist with >20 years of experience in the resources sector working on resource projectsfrom Greenfield's exploration, discovery, definition& feasibility, construction, production to closure. Currently Co-Founder & Managing Director of Tesoro Resources Limited.

Zeffron Reeves, Non-Executive Director

Ed Mason is currently founder & managing director of corporate advisory firm JE Capital & Non Executive Chairman of Auroch Minerals. Ed has spent twenty years working for global investment bankssuch as Merrill Lynch, HSBC, Renaissance Capital &more recently Royal Bank of Canada in senior capital markets roles.

Ed Mason, Non-Executive Director

Experienced mining executive with >20 years' experience, Blair is the former Founding Managing Director of Lemur Resources Limited, an ASX listed coal exploration & development company. He wasthe former Finance Director of Coal of Africa Limited, growing the company froma sub-$2M market capitalisation to over $1.5Batits peak.

Blair Sergeant, Non-Executive Director

Rincon Resources Exploration Projects

South Telfer Gold-Copper Project (Rincon 100%)

+500km2 in Paterson Province

12km south & southwest along strike from World Class Telfer Gold Mine

+50km of prospective & under-explored Telfer host geology

Maiden 5,000m RC drilling program completed at Hasties Prospect

Kiwirrkurra Copper-Gold Project (Rincon 100%)

~200km2 in West Arunta Orogen including the Central Australian Suture Frontier exploration in underexplored region

Prospective for Orogenic Gold & IOCG style Copper deposits

Laverton Gold Project (Rincon 100%)

+30km2 in heart of Tier 1 Laverton Gold District

Mt Margaret-Murrin Greenstone Belt

6km strike of under-explored & prospective BIF stratigraphy

Recent air-core drilling identifies anomalous gold trends for follow-up

Hasties Prospect

Mineralised zone +1km long, up to 50m wide & 120m depth

Reef and structurally controlled breccia & stockwork style mineralisation

Phase 2 drilling to test GAIP targetsincl deep conceptual target 300m below Hasties oxide zone

Westin Prospect

+25km strike of prospective Telfer host geology 5km long gold-in-bedrock (+0.1g/t Au) anomaly

7 high-priority drill targets identified from geophysics (VTEM) interpretation

Ultra-fine fraction soil sampling program set to assist target prioritisation

Hasties Prospect - Targeting untested extensions down-dip & down-plunge to south-west

RECENT RC DRILLING RESULTS

42m @ 1.17g/t Au & 0.26% Cu from surface including:

• 12m @ 2.53g/t Au from surface;
• 7m @ 0.86% Cu & 0.33g/t Au from 13m (incl. 3m @ 1.11% Cu & 1m @ 1.76% Cu); and
• 5m @ 0.99% Cu from 95m (incl. 1m @ 3.06% Cu).
• * For full resultsrefer to ASX Announcement dated 5 October 2021

• 62m @ 1.06g/t Au & 0.32% Cu from 4m including:
• 9m @ 2.94g/t Au from 21m (incl. 5m @ 4.23g/t Au);
• 4m @ 1.49g/t Au from 34m; 4m @ 1.56g/t Au from 42m; and
• 20m @ 0.5g/t Au & 0.85% Cu (incl. 8m @ 1.20% Cu)

Hasties Prospect – Depth Potential

Ground geophysics (GAIP) over Hasties has identified:

• Highly prospective fold structure related to Dolerite sill
• Deep conceptual target 300m below Hasties – "Hasties Deeps"
• Additional new targets identified in the broader Hasties Prospect area

Hasties Phase 2 Drilling

Phase 2 drilling program to commence mid-November:

• Up to 5,000m Reverse Circulation & Diamond drilling
• Testing gap between the Hasties Main & Hasties South-East zones, & extensional targets
• Diamond drilling to test "Hasties Deeps" target, ~300m below Hasties Main & Hasties South-East zones
• Government EIS co-funding approved

Kiwirrkurra Copper-Gold Project Drilling our Initial Targets

30km of highly prospective strike along Central Australian Suture (CAS)

IOCG copper mineralisation previously drilled at Pokali Prospect*, including: 32m @ 0.46% Cu from 74m (incl. 8m @ 1.1% Cu from 98m);

64m @ 0.39% Cu from 118m (incl. 14m @ 1.0% Cu from 132m). * For full resultsrefer to Rincon's Prospectus dated 3 November 2020

• Re-processing of geophysical data-sets complete, several high-priority targets identified for drill testing
• Up to 3,000m of RC & Diamond drilling planned
• Government EIS co-funding approved
• Mineral Exploration Land Access Deed of Agreement negotiated & executed

Negotiating Land Access Deed at Kiwirrkurra

Laverton Gold Project

Drilling our Initial Targets

6km of strike of prospective Banded Iron Formation (BIF) stratigraphy

Maiden + 6 ,400 m air -core (AC) drill program completed – May 2021

Widespread gold intersections returned from multiple areas including:

13m @ 0.30g/t Au from 45m to end -of -hole in 21LAC098;

5m @ 0.45g/t Au from 20m in 21LAC006.

Additional targeting work underway to identify new areas for drill testing

Rincon Workplan & News Flow

	Q22021	Q32021	Q42021	Q12022	Q22022
SouthTelferPhase2 RC/DiamonddrillingatHasties(5,000m)ACdrillingofhigh-priorityVTEMtargets(2,500m)
KiwirrkurraGeophysics&targeting.Drilltesthigh-prioritytargets(3,000m)
LavertonFollow-up& extensionaldrilling(2,500m)

Laverton

• ✓ Drill test initial targets & new targets
• ✓ Mapping & define new targets
• ➔ Follow-up & extensional drilling

South Telfer

• ✓ VTEM & Ground IP
• ✓ Drill Hasties Prospect (Phase 1)
• ➔ Extend Hasties drilling (Phase 2)
• ➔ Drill Westin Prospect & VTEM targets
• ➔ Soil sampling over Westin Prospect

Kiwirrkurra

• ✓ Photo-mapping & geophysics
• ✓ Target generation & prioritisation
• ➔ Drill test high-priority targets
• ➔ Regional geochemicalsampling

Why invest in Rincon?

Right Projects

Strategic projects with a focus on discovery

Right Commodities

Gold & copper, both in strong price environments

Right Locations

Located in highly mineralised terrains

Right Team

Highly experienced team with history of success

Gary Harvey Managing Director gary.harvey@rinconresources.com.au +61 (8) 6555 2950

rinconresources.com.au ASX:RCR