ROX RESOURCES LIMITED — AGM Information 2023

Nov 28, 2023

ROX RESOURCES LIMITED

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~~Exploring and Developing the Youanmi Gold Pro~~ ject

Annual General Meeting 2023 ASX: RXL Robert Ryan | Managing Director

www.roxresources.com.au

29 November 2023

ROX RESOURCES LIMITED

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Important Information and Disclaimer

Forward-Looking Statements

This presentation has been prepared by Rox Resources Limited (Rox or the Company) and is dated 29 November 2023. This presentation contains background information about Rox current at the date of this presentation (unless otherwise indicated). The information in this presentation is in summary form and does not purport to be complete nor does it contain all the information in relation to Rox. It should be read in conjunction with Rox's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX) at www.asx.com.au. 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 sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation does not constitute investment 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 transactions involve risks, which include, amongst others, the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Rox, its officers, employees, agents and advisers 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 is accepted.

This presentation may include forward-looking statements. Forward-looking statements include, but are not limited to, statements preceded by words such as "planned", “expected”, "projected", "estimated", “may”, "scheduled", intends”, “anticipates”, “believes”, "potential", “could”, “likely”, “nominal”, "conceptual", “propose”, “will”, “forecast”, “estimate”, and similar expressions. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Rox. 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 statement in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Rox 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 forwardlooking statement is based.

Refer to Rox's ASX release on 19 October 2022, for the Youanmi Gold Project Scoping Study (Scoping Study) details. Rox confirms that it is not aware of any new information or data that materially affects the information included in that market announcement. All material assumptions and technical parameters underpinning that market announcement continue to apply and have not materially changed.

Competent Person Statements

Exploration Results

The information in this presentation that relates to previous Exploration Results was reported by Rox in accordance with ASX Listing Rule 5.7 in the following announcements:

1. ASX Announcement on 13 June 2019 – “Currans Find Joint Venture Gold Project High Grade Gold Values Discovered”

2. ASX Announcement on 5 September 2019 – “Currans Find North Gold Prospect RC Drilling Intersects Stacked Lodes and Extends High-Grade Gold Zone Along Strike”

3. ASX Announcement on 11 September 2020 – “Youanmi Gold Project High Grade Gold Mineralisation Discovered at Taylor’s Reef”

4. ASX Announcement on 18 September 2020 – “Youanmi Gold Project High Grade Gold Intersected at Sovereign Prospect”

5. ASX Announcement on 3 February 2022 – “Youanmi Regional Aircore Drilling Identifies 4km Mineralised Corridor and New Targets”

6. ASX Announcement on 2 March 2023 – “Bonanza Intercept of 28m @ 34.81g/t Au at Youanmi South”

7. ASX Announcement on 16 May 2023 – “New High-Grade Drill Results Confirm Paddy’s Lode Discovery at Youanmi”

8. ASX Announcement on 6 September 2021 – “Potential New Parallel Lode Identified at Youanmi Gold Mine”

9. ASX Announcement on 18 November 2021 – “Parallel Lode at Youanmi Gold Project Continues to Emerge with Strong Drill Results Returned”

10. ASX Announcement on 8 June 2022 – “New ‘Midway’ Lode at Youanmi Gold Project Extended to 160m Down Plunge”

11. ASX Announcement on 20 February 2023 – “Midway Emerging as a New High-Grade Gold Discovery”

12. ASX Announcement on 5 April 2023 – “High-grade Results from Resource Definition Drilling Confirm Significant Endowment of Youanmi Gold Project ”

13. ASX Announcement on 6 July 2023 – “Youanmi Continues to Deliver Strong High-Grade Assay Results from In-Fill and Exploration Drilling”

14. ASX Announcement on 3 October 2023 – “Spectacular High-grade Gold Results Delivered from Link”

15. ASX Announcement on 26 April 2023 – “More Strong Assays as Resource Development Drilling Confirms Grade and Scale of Youanmi Gold Project”

16. ASX Announcement on 17 April 2019 – “Rox Confirms Mineral Resource Estimate and Near Surface Historic Drilling at Youanmi Gold Project”

17. ASX Announcement on 22 February 2022 – “Near Mine Drilling Delivers High-Grade Results, Youanmi Gold Project”

18. ASX Announcement on 20 April 2022 – “Youanmi Near Surface Resource Increased to 1.0Moz Au”

19. ASX Announcement on 2 November 2022 – “Mt Fisher - Mt Eureka Gold Resource Increased 110% to 187koz”

20. ASX Announcement on 10 December 2020 – “Youanmi Gold Project – Exploration Update Gold Mineralisation Discovered in Granite North of Youanmi Mining Leases”

21. ASX Announcement on 16 November 2023 – “Amended ASX Announcement – Regional Exploration Drilling”

Rox confirms that it is not aware of any new information or data that materially affects the information included in those market announcements and all material assumptions and technical parameters underpinning the exploration results included in those market announcements continue to apply and have not materially changed.

Resource Statements

The Statement of Estimates of Mineral Resources for the Youanmi Near Surface Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement "Youanmi Near Surface Resource Increased to 1.0Moz Au" released to the ASX on 20 April 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

The Statement of Estimates of Mineral Resources for the Youanmi Underground Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement " Youanmi Resource Increased to 3 Moz AU" released to the ASX on 20 January 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

The Statement of Estimates of Mineral Resources that relates to gold Mineral Resources for the Mt Fisher - Mt Eureka Project was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement "Mt Fisher - Mt Eureka Gold Resource Increased 110% to 187koz" released to the ASX on 2 November 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

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Consolidation of Youanmi Gold Belt

Near Mine Exploration

Improving Resource Confidence

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Regional Exploration

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Notes:

1. Refer to ASX Announcement on 16 November 2023

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2024 Key Milestones

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Resource Model Update Q1 2024

• Resource model update nearing completion

• Re-interpretation of the resource model based on historical records and new drilling data

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• Link shaping up as an adjacent lode to the Youanmi Main Zone and close to existing underground workings

Pre-Feasibility Study June 2024

• Metallurgical test work to refine process selection ongoing

• Mine design and scheduling to commence in the new year

• Process plant design and size

Regional & Near-mine Exploration Programs

• New geological understanding of the Youanmi mine area to help unlock the resource upside

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• Learnings from the Youanmi mine area to help refine exploration targeting in the regional tenure

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Funding Opportunities

• Alternative funding opportunities for the Youanmi Gold Project

• Monetising non-core assets

• Early cash flow opportunities from the Youanmi Gold Project

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Project Location

• Youanmi Gold Project located approximately 480km northeast –

• of Perth and Mt Fisher Mt Eureka Gold Project approximately 140km southeast of Wiluna

• Located in the central part of the Youanmi Greenstone Belt , which is situated in the Southern Cross Province of the Archaean Yilgarn Craton in Western Australia, “Australia’s premier gold province”

• Proven track record of production with historical production

• of 667koz of gold grading 5.42g/t from open pit and underground operations

• Leverage off existing site infrastructure and decline

• Surrounded by million-ounce mines and major gold

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Jundee (5Moz)
Meekatharra
Meekatharra Gold Mt Fisher – Mt Eureka
Cue Gold Operation
Operation (3Moz) (0.2Moz)
(4Moz)
Mt Magnet Mine (3Moz) Leinster
Agnew (2Moz)
Mt Magnet
Kirkalocka (1Moz)
Youanmi (3.2Moz)
Geraldton Golden Grove Leonora
Penny
(1Moz)
(0.3Moz)
Kalgoorlie
Super Pit (27Moz)
Southern Cross
Perth
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producers

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Corporate Information

Rox Resources Limited (ASX: RXL) is a West Australian focused gold exploration and development Company. It is the 100 per cent owner of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and owns the Mt Fisher – Mt Eureka Gold and Nickel Project approximately 140 kilometres southeast of Wiluna, with 100% ownership of certain tenure with the remaining tenure held via a joint venture (Rox 51%, earning into 75%).

Board and Management

Stephen Dennis	Non-Executive Chairman
Robert Ryan	Managing Director
John Mair	Non-Executive Director
Matthew Hogan Chris Hunt Daniel Marchesi	Non-Executive Director Chief Financial Officer General Manager – Studies
Travis Craig	Exploration Manager
ASX: RXL	www.roxresources.com.au

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Capital Structure

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Capital Structure
Current Pro-Forma [1]
Shares on Issue 360.0m 369.4m [1]
Share Price (at 28/11/2023) $0.19 $0.19
Market Capitalisation (at 28/11/2023) A$68.4m A$70.2m
Unlisted Options 15.8m 15.8m
Performance Rights 14.6m 14.6m
Cash Balance (at 30/9/2023) A$5.0m A$6.9m [1]
Shareholders
16.7% 16.5%
Shares 8.8% Shares 9.9%
on Issue on Issue
360.0m 369.4m
74.5% 73.6%
VMC Hawke's Point Other VMC Hawke's Point Other
RXL Share Price
$0.50 50
45
$0.40 40
35
$0.30 30
25
$0.20 20
15
$0.10 10
5
$0.00 0
Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23
Share Price ($) Volume (Millions)
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Notes

1. Rox successfully raised $7m via a Placement of 35m new shares announced on 23 August 2023. ~9.3m shares (which equates to ~$1 .9m of the Placement) issued to Hawke’s Point, Venus Metals Corporation and participating Directors are subject to shareholder approval at AGM scheduled on 29 November 2023. Pro -forma cash balance of $6.9m comprises $5.0m of cash at 30/9/2023 and $1.9m remaining from the Placement.

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Building Resource Confidence – Near Mine Exploration

Limited Near-Mine Exploration

Current Resource Statement – April 2022[1]

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Kurrajong / Rebel
Kathleen
United North
Hill End
Link
Youanmi
Underground
Main Pit
Limited Near-
Mine Exploration
Limited Near-
Midway Mine Exploration
Paddy’s Lode
Bunker
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Kurrajong / United Hill
Kathleen Main Pit Bunker
Rebel North End
Resource Tonnes Au Grade Au Metal
Statement
(Mt) (g/t) (Moz)
Near Surface 18.00 1.74 1.00
Underground 9.90 6.89 2.19
Total 27.90 3.57 3.20
Initial results from near-mine exploration drilling programme
indicate potential to significantly contribute to the gold
resource. New targets are being identified at the near-mine
area as induced polarisation (IP) geophysical survey defined
multiple bedrock targets within close proximity to the Youanmi
mine
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Notes:

1. Refer to ASX Announcements on 20 April 2022

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Link High-Grade Drilling Results

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Resource Development Drilling

• Drilling at Link intersecting thick, high-grade mineralisation with several standout intercepts: o RXDD058: 6.53m @ 10.31g/t Au o RXDD059: 8.25m @ 8.54g/t Au o RXDD076: 4.26m @ 9.67g/t Au o RXDD088: 24.43m @ 12.79g/t Au incl: 6.03m @ 25.01g/t Au, and: 1.87m @ 28.65g/t Au and:

• 2.68m @ 36.51g/t Au

• o RXDD096: 3.84m @ 9.13g/t Au

• Impressive grades and widths that bode well

• for future underground mining operations

• The mineralisation at Link remains open downplunge

• Resource definition drilling has now been successfully completed at both Link and Kathleen

Notes

1. Refer to ASX Announcement 5 April 2023, 26 April 2023, 6 July 2023 and 3 October 2023

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Youanmi Underground

Off-setting Faults

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Exploration
Potential
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Paddy’s

AYMD0001: 5.9m @ 16.01g/t Au incl 3.5m @ 26.72g/t Au (~970m below surface)

Youanmi Underground Overview

• Refers to the underground lodes mined by Gold Mines of Australia Limited during the 1990’s. Above this lies the pre1942 underground workings that contain remnant pillars left for structural support

• Shear zone hosted, sulphide replacement style of

mineralisation

• Drilling highlights include:

• RXDD034: 0.73m @ 38.65g/t Au

• RXDD031: 3.25m @ 32.22g/t Au and 4.38m @ 3.65g/t Au

• o RXDD040: 4m @ 10.91g/t Au and 2.66m @ 11.6g/t Au o RXDD037: 1.12m @ 48.01g/t Au o RXDD036 : 2.09m @ 5.71g/t Au o RXRC418: 4m @ 4.78g/t Au

• • Deepest hole (~970m below surface) AYMD0001: 5.9m @ 16.01g/t Au incl 3.5m @ 26.72g/t Au

Notes

1. Refer to ASX Announcement 17 April 2019, 22 February 2022 and 20 April 2022

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Exploration Growth Strategy

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Rox’s Project Pipeline

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Target Prospect Prospect Resource Mining
Generation Definition Testing Definition Feasibility
Youanmi Near Mine
Grace
Bunker North Midway
Youanmi Granite Plant Zone Youanmi
Youanmi Far
Paddy’s Lode
South
Commonwealth
Pincher Well
Hope
Red White &
Blue
Penny South Linda Gossan
Currans Find
Target Area 1
Sovereign
Youanmi Regional
Notes:
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1. Refer to ASX Announcements on 20 January 2022, 20 April 2022 and 16 November 2023

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Near Mine Discoveries – Midway & Paddy’s

Midway & Paddy’s Discoveries

• Newly defined exploration targets located within 300m of the Youanmi Main Lode

• Paddy’s Results:

• RXRC458: 28m @ 34.81g/t Au from 204m

• RXDD080: 5.70m @ 8.26g/t Au from 233.30m,

o RXDD095: 5.08m @ 9.56g/t Au from 225.80m

• RXDD098: 3.32m @ 8.29g/t Au from 200.05m

• Midway results:

• RXDD047: 2.86m @ 22.03 g/t Au from 356.39m and;

• RXDD047: 3.73m @ 10.25 g/t Au from 405.80m

o RXDD048: 6.76m @ 15.40 g/t Au from 169.13m

• Drilling shown thick continuous high-grade intersections

• Potential to add additional resources to the Youanmi Gold Project

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Midway Long Section

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Paddy’s Lode Cross Section
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Notes: Refer to ASX Announcement 6 September 2021, 18 November 2021, 8 June 2022, 20 February 2023 and 6 July 2023

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Near Mine - IP Survey Follow Up

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IP Survey Results

• Induced polarisation (IP) geophysical survey defines multiple bedrock targets within close proximity to the Youanmi deposit:

  1. Target 3 and 4 – Paddy’s Lode

• Target 1 – Bunker North

• Target 5 – Youanmi Shear Zone

• Target 2 – Youanmi Granite South

Notes

1. Refer to ASX Announcement 7 August 2023

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Regional Advanced Projects

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Currans Find Gold Project

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• Located 20km south of Youanmi

• Significant historical intercepts at Currans Find include:

o CFRC026: 3m @ 32.58g/t Au from 115m

o CFRC016: 3m @ 27.50g/t Au from 39m

o CFRC031: 4m @ 18.59g/t Au from 108m

o CFRC084: 3m @ 19.58g/t Au from 21m

• Recent high-grade intercepts include: o RXRC525: 6m @ 5.22g/t Au from 29m o RXRC519: 12m @ 4.44g/t Au from 18m, incl:

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o 7m @ 6.82g/t Au from 19m

o RXRC511: 2m @ 10.80g/t Au from 149m

o RXRC514: 3m @ 4.77g/t Au from 37m

• High-grade plunges of the mineralised trends defined and new mineralised zone discovered

• Follow-up drilling planned

Notes:

1. Refer to ASX Announcement on 16 November 2023

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Greenfields Exploration

Penny South Project Area

• Newly defined gold and lithium exploration targets located 50km south of the Youanmi Gold Project

• Venus Metals Corporation has defined LCT pegmatites on E57/1078 (RXL 100% gold rights, VMC 100% non-gold mineral rights)

• Mineralisation in rock chips up to 4.6% Li2O [1]

• Soil sampling underway looking for gold and lithium anomalism across E57/1123 (RXL 100% all mineral rights)

• Lithium anomalism in historical soils along mapped pegmatites

• New pegmatite zones mapped with soil samples & rock chips awaiting assays

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VMC mapped pegmatites and rock chip assays [1]

Gold anomalism along magnetic high

1. Refer to VMC ASX Announcement on 18 September 2023

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Potential Upside to Scoping Study

Scoping Study (October 2022) Key Metrics (A$2,450/oz)

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Total Material Processed
3.9Mt @ 5.0g/t Au
Annual Payable Metal
71koz pa
Plant Throughput
480ktpa
All-In Sustaining Cost
$1,538/oz
Pre-Production Capex
$99m
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Potential Upside – Resource Stope Optimisation

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Processing Plant Layout

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Notes

1. Refer to ASX Announcement 19 October 2022

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Why Invest in Rox Resources

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Record Gold Price

• Significant valuation gap between gold miners and spot gold price[1]

Potential Scoping Study Upside

• Leverage to record high AUD gold price (A$3,052/oz as at 28/11/2023)

• Resource stope optimization

• Only 20% of global resource included in Scoping Study

• Concentrate vs gold dore processing options

Near-mine Discoveries

• New discoveries at Midway and Paddy’s Lode

• Improved geological understanding of the Youanmi mine area to help unlock the resource upside

Regional Exploration

• Exploration upside at Currans Find Project

• Gold and lithium prospectivity at Penny South

• Learnings from the Youanmi mine area to help refine exploration targeting in the regional tenure

Gold Stocks: Premium / Discount to Gold Price[1]

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Source:

1. VanEck – “Sector Re-Rating a Boon for Gold Stocks?” released on 13 November 2023

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