RUMBLE RESOURCES LIMITED — Investor Presentation 2020

May 24, 2020

25 th May 2020

Company Presentation – 121 Mining Conference

Rumble Resources Limited (ASX: RTR) ("Rumble" or "the Company") is pleased to lodge a copy of the presentation that Managing Director Mr Shane Sikora will be presenting at the 121 Mining Investment Online Conference.

Please refer enclosed presentation.

This announcement is authorised for release by:

Shane Sikora Managing Director

For further information visit rumbleresources.com.au or contact enquiries@rumbleresources.com.au.

About Rumble Resources Ltd

Rumble Resources Ltd is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current mineral exploration assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Brett Keillor, who is a Member of the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists. Mr Keillor is an employee of Rumble Resources Limited. Mr Keillor has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is 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 Keillor consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Rumble Resources Ltd

Suite 9, 36 Ord Street, West Perth, WA 6005

T +61 8 6555 3980

F +61 8 6555 3981

rumbleresources.com.au

ASX RTR

Executives & Management

Mr Shane Sikora Managing Director

Mr Brett Keillor Technical Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Steven Wood Company Secretary

Mr Mark Carder Exploration Manager

121 Mining Conference Presentation

Image: Western Queen High-Grade Gold Central Open Pit (historic production 190,000 oz @ 8.9 g/t Au) .

Significant High-Grade Gold System and Multiple Tier 1 Projects

MAY 2020 WWW.RUMBLERESOURCES.COM.AU ASX: RTR | PAGE 1

Pipeline of Projects Multiple Avenues to Discovery

Clear Strategy

• Generate a pipeline of projects at various stages of development
• Critically review each project to ensure capable of world class discoveries
• Negotiate low cost upfront optionality
• Fast track low cost drill target generation
• Drill first order targets for discovery
• De-risked due to multiple avenues to discovery

Discovery History

Technical Director Brett Keillor

• Discovered multiple deposits that turned into mines with majors Resolute and Independence Group
• Twice AMEC Award "Prospector Of The Year" – Tropicana and Plutonic Discoveries

Near Term Catalysts

• Rumble Focus: Significant Drill Program at Western Queen Targeting High-Grade Gold Discoveries
• JV Partner Drilling Fraser Range Project targeting large scale Ni-Cu & Au

Discoveries

Capital Structure
Shares on Issue	#	446m
Issue 123 4Unlisted Options on	#	33M
Cash5	A$	$2.9m
MarketCap	A$	$30m

• 1. 9mil 8c options (22 December 2020)
• 1. 4mil 3c Options (8 September 2020)
• 1. 5mil 15c Options (22 December 2022)
• 1. 15mil Performance Options 20c, 30c, 40c, 50c, $1 & $2
• 1. Cash position Mar 20 Quarterly

Board & Management

Shane Sikora	ManagingDirector
Brett Keillor	Technical Director
Matthew Banks	Non-Executive Director
Michael Smith	Non-Executive Director
Steven Wood	Company Secretary
Mark Carder	Exploration Manager

Ownership Analysis
Board and Management	9.6%
Top 20	36.3%

RTR Chart Since Strategy Commenced April 2016

1. Western Queen Au Project - Rumble Focus Multiple High-Grade Au Shoot Targets

Target Generation

• Limited drilling outside of historic deposits Potential for multiple high-grade gold discoveries near surface and at depth throughout project
• New geological understanding combined with high grade-gold drill intercepts has led to multiple high-grade gold shoot targets
• High-Grade gold skarn deposit types typically form multiple gold shoots

New Geological Understanding

• Large shear zone (up to 50m wide) interpreted over a strike of 5.5km within the project hosts significant gold mineralisation with pyrrhotite, pyrite and chalcopyrite (conductive)
• Within the shear zone, structurally controlled high-grade gold shoots have developed in tremolite skarn (non-conductive) with scheelite, fuchsite, roscoelite (Cr-V micas)
• The WQ Central (Open Pit Production 190,000oz @ 8.9 g/t Au) a high-grade gold skarn shoot was historically mined as the "amphibolite lode"
• Drilling by Rumble below the mined WQ Central shoot intersected the high-grade gold skarn (6m @ 34.24 g/t Au) from 354m downhole and further along at depth intersecting the top of the skarn shoot (0.7m @ 26.6 g/t Au) from 488.3m confirming the continuity of high-grade gold down-plunge providing confidence of resource extensions
• The drilling confirmed the high-grade gold skarn bearing shoots as a consistent 45° plunge SSW
• High-angle thrusts (reverse faults) have been recognised as partly to fully closing the top 40m at the WQ Central mined lode and further north to where significant "blind" high- grade gold mineralisation has been defined near surface

1. Western Queen Au Project - Rumble Focus Multiple High-Grade Au Shoot Targets

1. Western Queen Au Project - Rumble Focus Multiple High-Grade Au Shoot Targets

1. Western Queen Central High-Grade Gold Shoot Underground Extension

• 6.4m @ 36.09 g/t Au from 305.7m (WQD-1072)
• 6m @ 34.24 g/t Au from 354m (WQRC007D)
• 4.7m @ 6.06 g/t Au from 485.5m (WQDD005A) inc 0.7m @ 26.6 g/t Au from 488.3m Interpreted to have intersected top of high-grade gold skarn shoot at Depth
• Drilling confirmed continuity of high-grade gold at depth and shoot position (structurally controlled at 45° plunge to the SSW) providing confidence of resource extensions
• Review of 6m @ 34.24 g/t Au & 0.7m @ 26.6 g/t Au has shown the high-grade Au is in a nonconductive tremolite skarn with scheelite, fuchsite & roscoelite (Cr-V micas).

2. WQC North - Potential 'Blind' Shallow High-Grade Gold Shoot

• 8m @ 7.22 g/t Au from 49m (WQRC026) 250m north of Western Queen Central Shoot
• High-grade gold was 'blind' from surface due to reverse fault thrusts 'hiding' gold

3. WQC North - Potential 'Blind' Shallow High-grade Gold Shoot

• 7m @ 60.6 g/t Au from 70m (WQJC-32) Immediately north of Western Queen Central shoot
• 6m @ 37.34 g/t Au from 50m (QNC-10310-1)
• Partially blind high-grade zones are truncated & transposed by reverse faulting

* No 2 & 3 targets potential repeat of Western Queen Central Open Pit 190,000oz @ 8.9 g/t Au which had a high angle thrust partly cover "blind" the high-grade Au that developed from 40m

4. Western Princess - Potential Shallow High-Grade Gold Shoot

• 5m @ 3.64 g/t Au from 52m
• 3m @ 19.9 g/t Au from 8m
• Drilling has shown the shear zone is wide with multiple structurally controlled shoots there is high potential to define deeper plunging shoots

5. Western Queen Central Oxide - Potential Shallow High-Grade Gold Shoot

• 2m @ 40.37 g/t Au from 4m (WQY-85)
• 3m@ 10.42 g/t Au from 1m (WQY-123)
• 5m @ 5.11 g/t Au incl (inc 1m @ 16.9 G/t Au) (WQRC023D) from 365.5m Interpreted to have intersected bottom of high-grade gold skarn shoot at depth
• Potential to define a high-grade shoot below the oxide mineralisation

6. Cranes - Potential Shallow High-Grade Gold Shoot

• 14m @ 4.87 g/t Au from surface (CRAC015)
• Significant Potential to define a high-grade shoot below the laterite mineralisation

1. Western Queen Au Project – (100% Option) Multiple High-Grade Au Shoots Targets

Western Queen Gold Deposit
Mineral Resource Estimate (2.0g/t Au cut-off)
Deposit	Indicated		Inferred			Total
	Tonnes	Au	Tonnes	Au	Tonnes	Au	Au
		g/t		g/t		g/t	ounces
WQ South	243.000	3.5	590.000	2.9	832.000	3.1	83,000
WQ Central			130,000	9.0	130,000	9.0	38,000
Total	243,000	3.5	719,000	4.0	962,000	3.9	120,000

Table 1 – Western Queen Project Resource Estimate (table subject to rounding)

ASX: RTR | PAGE 7

2. Fraser Range JV Project (RTR 30%) Fraser Range Ni-Cu-Au Targets – Tier 1

Fraser Range

• World Class Nova Nickel Copper Cobalt and Tropicana Gold Mines
• Highly sought-after region with new Silver knight and Mawson Discoveries

Thunderdome JV Project (IGO 70%)

Sailfish Ni-Cu Tier 1 Targets

• Magnetic low/gravity high features conceptual targets analogous of Legend Mining's Mawson Ni-Cu discovery (Located 30km NE along trend)

Old Soldiers Ni-Cu-Zn Tier 1 Targets

• Multiple EM conductors over a 12km Cu-Zn trend have the potential for VHMS and/or magmatic Ni-Cu deposits

Thunderstorm JV Project (IGO 70%)

Pion and Themis Au Tier 1 Prospects

• High Grade Gold Discovery
  • o 25m @ 2.42 g/t Au from 42m incl 5m @ 10.85 g/t from 49m
• 13km of paleochannel & basement gold

Ni-Cu Tier 1 Targets

• Mafic intrusions east of the Newman Shear Zone & Ni-Cu targets identified in an Airborne Spectrum AEM Survey

3. Munarra Gully Project (RTR 100%) Large-Scale Au-Cu-Ag System – Tier 1

Amaryllis Prospect - Maiden RC Drill Program

High-grade Au mineralisation:

• 5m @ 11.67 g/t Au from 161m (AMRC008)
• 2m @ 13.45 g/t Au from 92m (AMRC012)
• 4m @ 6.21 g/t Au from 94m (AMRC006 4m composites)

Significant Au-Cu-Ag mineralisation:

• 8m @ 1.94 g/t Au, 0.68% Cu, 9.5 g/t Ag from 142m (AMRC007)
• 8m @ 0.88 g/t Au, 1.11% Cu, 11.8 g/t Ag from 102m (AMRC003)
• 10m @ 2.88 g/t Au, 0.54% Cu, 7.5 g/t Ag from 146m (AMRC015)
• 10m @ 1.35 g/t Au, 0.62% Cu, 9.5 g/t Ag from 108m (AMRC016) *within 40m @ 0.89 g/t Au, 0.39% Cu, 5.7 g/t Ag from 108m

Large-scale Au-Cu-Ag System – Tier 1 Potential:

• Over 1500m of Au-Cu-Ag mineralised strike confirmed
• Open in all directions
• Au-Cu-Ag in wide alteration zones up to 50m true width
• Strong strike and dip length continuity of Au-Cu-Ag

Deposit Types:

• VMS Type Au-Cu-Ag-Zn
• Orogenic Shear Related Au-Cu-Ag Sulphide Lode Type

4. Earaheedy Project (RTR 75%) Large-Scale Zn-Pb-Ag System – Tier 1

Two Large Scale Zn-Pb-Ag Discoveries:

• At Chinook, higher-grade Zn-Pb confirmed over 200m horizontal width and up to 12m vertical true thickness (within 41m Zn-Pb broad zone)
• Magazine and Chinook are 10.5km apart with the Zn-Pb-Ag mineralisation completely open
• The Project covers over 40km of sandstone unconformity prospective strike - remains untested and completely open
• Zeroing on High Grade Zones Higher-grade Zn-Pb identified in sandstone channel and facies zones which are conducive to developing higher-grade Zn-Pb mineralisation

Deposit Type:

• Multiple large tonnage, flat lying, shallow, open pittable sandstone Zn-Pb-Ag deposits

Exploration Target Tier 1 Potential:

Earaheedy Zn-Pb Project - Exploration Target
Range	Tonnes	Grade
Upper	100.000.000	4.5% Zn+Pb
Lower	40.000.000	l 3.5% Zn+Pb

* See Appendix 1 for parameters on Exploration Target

5. Lamil JV Project - AIC Mines (up to 65%) Paterson Province Au-Cu Targets - Tier 1

AIC Mines can earn 50% interest by spending $6 million at Lamil over 4 years,thereafter AIC can earn a further 15% by spending $4 million over 1 year if Rumble does not elect to contribute.

Paterson Province

• World class Telfer gold-copper mine and Nifty copper mine.
• Highly sought-after region with multiple new discoveries Winu Cu-Au (Rio Tinto) and Haveiron (Greatland/Newcrest)

Tier 1 Targets

Twenty-six (26) Au-Cu targets identified by JV partner AIC located between nifty and Telfer:

• Four (4) Priority 1 Targets interpreted to be shallow, ie <60m, and confidence in modelling is highest. These are "drill ready".
• Eleven (11) Priority 2 Targets identified to be shallow, ie 60m and confidence in modelling is moderate. Targets will be considered for first pass drill testing and further geophysics.
• Eleven (11) Priority 3 targets interpreted to be shallow to moderate in depth. Confidence in modelling with available data at this stage is low. These targets are key structural intersections which will be investigated following favourable results from additional work on the Priority 1 and Priority 2 areas.

Lamil dome (P1 Target) Key Target of interest

• Target has similar dome size, trend and inferred host rocks to the Telfer Au – Cu deposit (32Moz Au, 1Mt Cu resource), a large dome structure which lies 30km to the northeast

Drilling a Pipeline of Projects

• Rumble executing de-risked pipeline of projects strategy
• Multiple near-term discovery catalysts
  • ❖ Proven High-Grade Gold System Rumble Focus
  • ❖ 2 x 'Tier 1' Large Scale Systems Stepping Out
  • ❖ 2 x 'Tier 1' Targets JV Fraser Range & Paterson Province
• Successful Technical Director Twice AMEC "Prospector Of The Year"

Disclaimer

Disclaimer;

• This presentation has been prepared by Rumble Resources Limited (Rumble or the Company). It contains general information about the Company's activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should obtain their own independent advice from qualified financial advisors having regarding to their objectives, financial situation and needs. Rumble nor any of their related bodies corporate is licensed to provide financial product advice.
• This presentation and information, opinions or conclusions expressed in the course of this presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Rumble, and of a general nature which may affect the future operating and financial performance of Rumble, and the value of an investment in Rumble including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, manganese demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, foreign currency fluctuations, and mining development, construction and commissioning risk.
• You should not act or refrain from acting in reliance on this presentation, or any information, opinions or conclusions expressed in the course of this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the prospects of Rumble. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before may any decision based on the information. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultant or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. An investment in the shares of the Company is to be considered highly speculative.
• The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. In relation to any statements pertaining to future exploration targets or conceptual exploration targets, the nature of the exploration target means that the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource. This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Rumble's other periodic and continuous disclosure announcements lodged with the ASX, which are available on the Rumble website. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company's exploration programme, outlook and target sizes. They include statements preceded by words such as "potential", "target", "scheduled", "planned", "estimate", "possible", "future", "prospective" and similar expressions.

Competent Person Statement:

• The information in this presentation that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Mr Brett Keillor, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Keillor has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to activities undertaken, 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 Keillor consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.
• Refer previous announcements in respect of exploration results, dated 26 November 2019, 8 November 2019, 21 November 2019, 21 October 2019, 1 October 2019, 23 August 2019, 22 August 2019, 6 August 2019, 11 July 2019, 1 July 2019, 4 April 2019, 12 March 2019, 12 February 2019, 6 February 2019, 17 December 2018, 27 November 2018, 30 August 2018 and 9 August 2018. The resource and acquisition terms for the Western Queen Au Project was disclosed in the ASX announcement dated 6 August 2019. Rumble is not aware of any new information or data that materially affects the information included in that relevant market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Rumble Contacts – Thank You

Office: Suite 9/36 Ord Street, West Perth, WA 6005 Web: www.rumbleresources.com.au Email: info@rumbleresources.com.au

https://www.linkedin.com/company/ rumble-resources-ltd

https://twitter.com/RumbleResources

Appendix 1

Earaheedy Exploration Target

Rumble's Zn-Pb Exploration Target at the Earaheedy Project is between 40 to 100 million tonnes at a grade ranging between 3.5% Zn-Pb to 4.5% Zn-Pb. The Exploration Target is at a shallow depth (80m), and over 40kms of prospective strike (completely open) has been defined within the Earaheedy Project. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target, being conceptual in nature, takes no account of geological complexity, possible mining method or metallurgical recovery factors. The Exploration Target has been estimated in order to provide an assessment of the potential for large-scale Zn-Pb deposits within the Earaheedy Project. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.

The Exploration Target is based on the current geological understanding of the mineralisation geometry, continuity of mineralisation and regional geology. This understanding is provided by an extensive drill hole database, regional mapping, coupled with understanding of the host stratigraphic sequence and a feasibility study completed at the nearby Paroo Pb deposit. Included in the data on which this Exploration Target has been prepared is recent RC drilling of 30 holes for 2690m (three RC stages) and Diamond Drilling of 4 holes for 1199.8m completed by Rumble along with 64 historic RC drill holes completed within the project area (E69/3464) by previous explorers (refer historical exploration results in previous ASX announcements dated 5 February 2019 and 12 October 2017, 23rd January 2020 which continue to apply and have not materially changed). Some of the considerations in respect of the estimation of the Exploration Target include:

• •Drilling results have demonstrated strong continuity of shallow, flat lying mineralisation;
• •Over 40km's of prospective strike and open;
• •Minimum 200m of width (based on shallow 7.5° and shallow depth to 80m, based on drilling results.
• •True width of mineralisation up to 12metres received in drilling results; and
• •Specific gravity (SG) of 2.5 (world average SG of sandstone not accounting for metal).

The Company intends to test the Exploration Target with drilling and this further drilling is expected to extend over approximately 12 months. Grade ranges have been either estimated or assigned from lower and upper grades of mineralisation received in drilling results. A classification is not applicable for an Exploration Target.

Earaheedy Regional Comparative

The Earaheedy Pb-Zn sandstone hosted mineralisation has similarities with the Paroo Pb Project, owned by LeadFX Inc. (a private Canadian company), which lies 120km to the southwest of the Company's Earaheedy project. The Paroo Pb deposit is a large supergene (predominantly Pb carbonate) deposit under shallow cover. The Earaheedy project is a sulphide system (based on work to date) and is geologically equivalent (temporally and spatially with respect to stratigraphy) to the Paroo Pb mineralisation. Some dimensions of the Paroo Pb deposit include:

• •Magellan 1600m by 900m by 12m width of mineralisation;
• •Cano 850m by 430m by 7m width of mineralisation;
• •Pinzon 1000m by 200m by 5m width of mineralisation; and
• •Cover is up to 25m

•LeadFX Inc released a NI 43-101 feasibility study on the Paroo Deposit in April 2019. Rumble considers the Earaheedy Project to have similarities to the Paroo Pb Project, however, based on exploration to date, any mineralisation is reasonably expected to be predominantly sulphide (galena and sphalerite).