STRIKE RESOURCES LIMITED — Investor Presentation 2018

May 15, 2018

Wednesday, 16 May 2018 ASX Code : SRK

ASX MARKET ANNOUNCEMENT

Peru Iron Ore Presentation at Latin America Down Under Conference

Strike Resources Limited (ASX:SRK) (Strike) is pleased to attach a copy of its "Peru Iron On Track" presentation made by the Managing Director at the Latin America Down Under (LADU) 2018 Conference held in Perth, Western Australia.

FOR FURTHER INFORMATION

William Johnson Victor Ho Managing Director Director and Company Secretary T | (08) 9214 9700 T | (08) 9214 9700

E | wjohnson@strikeresources.com.au E | cosec@strikeresources.com.au

ABOUT STRIKE RESOURCES LIMITED (ASX:SRK)

Strike Resources is an ASX listed resource company and owns the high grade Apurimac Magnetite Iron Ore Project and Cusco Magnetite Iron Ore Project in Peru and is currently developing its Burke Graphite Project in Queensland and lithium exploration tenements in Western Australia.

www.strikeresources.com.au

STRIKE RESOURCES LIMITED A.B.N. 94 088 488 724

Level 2, 23 Ventnor Avenue, West Perth, Western Australia 6005 T | (08) 9214 9700 F | (08) 9214 9701 E | info@strikeresources.com.au

Peru Government sponsored multi-user railway is the catalyst to advance Strike's 20Mtpa iron ore project

Apurimac Project (SRK: 100%)

• Peru Government plans a multi-user railway connecting Strike's Apurimac Project to Port.
• Apurimac is one of the world's highest grade large scale magnetite deposits.
• 20Mtpa production potential.
• Held since 2005, > $50 Million invested by Strike to date (PFS stage).

Railway is the catalyst to advance development of the Apurimac Project

THE CATALYST TO RAMP-UP PROJECT ACTIVITY Peru Government plans a multi-user railway connecting Strike's project mine to port

Peru Iron On Track

The Government sponsored multi-user Andahuaylas Railway is a game changer for Strike in Peru.

The proposed Andahuaylas Railway route: Governor of Apurimac, CADE. 30 November 2017

• The Government of Peru is planning a multi-user railway from Andahuaylas located 20km from Strike's Apurimac Iron Ore Project - to an expanded multi-user mineral export port on the west coast of Peru (~ 570km track length).
• Strike will be by far the biggest potential user of this railway, transporting ~20 Million tonnes of iron ore per annum.
• Whilst other mining projects and commercial users in the region will utilise the railway, Strike's iron ore will drive the commercial viability of the Andahuaylas Railway.

Strike completed a Prefeasability Study in 20081 (updated in 20102) on the Apurimac Project, which confirmed clear potential for development of a world class iron ore project

Planned Production Capacity of 20 million tonnes per year of iron-ore lump and fines

• Base case of 20Mtpa of material produced by open pit mining
• Transport of high grade lump and fines product to the coast via Railway to Port of San Juan de Marcona, where a new specialised multi-user mineral ore terminal is to be built

Attractive life-of-mine operating expenses (2010) of US$15 -17 per tonne2 of product delivered to port (for owner-operated railway)

• Open cut mine, low strip ratio (1.2 to 1.8) delivers low mining costs
• Ore is high grade, coarse-grained magnetite which liberates easily crushing and screening only
• Potential to be one of the world's lowest operating cost iron ore mines

MOU with DHHI (China) provides affirmation of international interest in Strike's Project

• Dalian Huarui Heavy Industry Group (DHHI) is a major supplier to mining industry (e.g. bulk handling machinery for Roy Hill, Australia).
• MOU signed with Strike in February 2018 to work on jointly developing iron ore project, railway and port infrastructure.
• Provides potential access to Chinese resources (particularly railway construction) and project financing.

What is the Value Potential for Strike now?

	2008	2018
Peru Iron Ore AssetValuation	US$650M1	?
Strikeshare of Peru IronOre Assets	69%:(US$450M)	100%
SRK Market Capitalisation(May)	A$260M	A$9M
Iron Ore Price(62% finesCFR China)	US$62/t	~US$70/t
Potential for 3rdparty builtand operated rail andport	No	Yes
Connection with largeChinese infrastructuregroup	No	Yes

1 Refer SRK Announcement dated 1 April 2008: Update on Potential Sale of Peruvian Iron Ore Assets

THE CATALYST TO RAMP-UP PROJECT ACTIVITY Peru Government plans a multi-user railway connecting Strike's Project mine to port

The Apurimac & Cusco Iron Ore Projects

…the Andahuaylas Railway is the trigger for Strike to restart development.

9

9

Strike is already well established in Peru

• Strike has been operating in Peru for thirteen years, since 2005.
• During this time, Strike has invested over $50 million in developing its iron ore assets in Peru.
• Initially operating in a joint venture with two local companies, Strike secured 100% equity interest in the projects in 2013 through its 100% holding in Peruvian company Apurimac Ferrum S.A. (AF).
• Strike's activity in Peru has reduced in recent years, with the softening of iron ore prices; however…

…the Andahuaylas Railway is the trigger for Strike to restart development

Strike's Projects are in the highly prospective Apurimac and Cusco Regions in southern Peru**,** with other world class mineral projects nearby which will also benefit from the proposed railway

Apurimac Ferrum S.A

Strike Resources PeruS.A.C

Cu Resource(MT)

N/A 1-100 1-500

500

Major City Major Town

To San Juan de Marcona Port

The Andahuaylas Railway will allow Strike's projects to form the hub of a new potential 40Mtpa iron ore industry in Peru

Peru Iron

20Mtpa
20Mtpa
40Mtpa

Bouguer Strike's Apurimac Iron Ore Deposit has sufficient defined resources and exploration upside for at least 10 - 20 years of Iron Production (@ 10 – 20 Mtpa)

Current JORC Resources of 269Mt at 57.3% Fe

• Continuous broad zones
• Dominantly high-grade, coarse-grained magnetite
• Low strip and high conversion ratios indicated
• Simple crushing and screening for railway transport upgrades ore to +60%

Exploration Potential:

• Undrilled gravity and magnetic anomalies
• Both deposits open at depth
• Drill results include 154m @ 62% Fe open at depth

The Apurimac Deposit is easily accessible and has a low strip ratio

View from the south of the Apurimac Project

The Apurimac Project has a favourable location in an area with a benign climate and is well served by existing infrastructure

Location

• Iron deposit is directly adjacent to regional airport of Andahuaylas
• 3,500m altitude, similar elevation to other mines in Peru
• Climate is benign and enables operations throughout the year

Infrastructure

• Existing regional infrastructure with surplus power on national grid available
• Large bodies of water nearby to support mining
• 15km from city of Andahuaylas, pop.~ 50,000

Railway route mapped to port

• Mostly flat to gentle downhill gradient
• Railway offers maximum flexibility and social benefits
• Proposed expansion of multi-user port of San Juan de Marcona to connect to railway

16 16 16

Strike has previously demonstrated potential to commence near-term production to generate early cashflows

Strike has already created a stockpile of high grade DSO material and sold to local steel mill

• 10,000 tonnes has been mined by local 'community miners'
• 65% Fe, 0.04% P, 0.013% S

17

17

• 5,000 tonnes already delivered by to truck to coast, crushed and sold to steel mill
• Consistent with government policy to formalise informal community miners
• Strengthens relationship with local community
• Using community miners speeds up permitting for small scale mining

Strike's Cusco Project offers expansion potential for an additional 20 Mtpa (40MTpa total between Apurimac and Cusco)

Current JORC Resource of 104Mt at 32.6% Fe with exploration upside

• Mineralisation remains open along strike and at depth
• Predominantly coarse-grained magnetite ore, similar to Apurimac – upgradable at relatively coarse grind sizes
• Centred on a large 2 kilometre diameter circular magnetic anomaly with magnetic highs extending both north and south
• Extensive outcrops of high-grade iron ore coincide with the magnetic anomalies
• Mapping and surface sampling indicates these outcropping zones commonly contain >60% Fe

Community Relations are important in Peru: Strike has funded many community educationand development programmes with local communities

THE CATALYST TO RAMP-UP PROJECT ACTIVITY Peru Government plans a multi-user railway connecting Strike's Project mine to port

Next Steps for Strike

Strike will advance its Apurimac mine and plant in parallel with proposed Andahuaylas Railway development

Railway will likely take ~5 – 7 years to complete, during which time Strike plans to:

• Re-commence exploration to expand and upgrade JORC Mineral Resources (2018 – 2020)
• Work with Peru Government-selected consultants to complete comprehensive Railway Study (covering technical, financial, social and environmental aspects of the Andahuaylas Railway) (2018 - 2019)
• Identify Strategic Partners to fund exploration, resource upgrade and full feasibility studies (2018 – 2022)

Strike is now 'on track' for a significant value re-rating

SUMMARY

• Government sponsored Andahuaylas Railway will facilitate development of Strike's 20 Mtpa Apurimac High Grade Iron Ore Deposit
• Relationship with Chinese DHHI first step in building strategic partnerships with key mining and infrastructure groups
• Previous project valuation of US$650M in 20081 indicates significant re-rating potential for Strike currently only A$10M market capitalisation

THE CATALYST TO RAMP-UP PROJECT ACTIVITY Peru Government plans a multi-user railway connecting Strike's Project mine to port

Appendices

SRK Capital Structure and 12 months trading history

Issued	145
Capital	million
52 week tradingrange	3.8 –8.5cents
Market Capitalisation(@ 6cents)	$9Million
Cash	$5
+ Liquid Investments Balance	Million

TopShareholders	Shares(Million)	% IssuedCapital
Bentley CapitalLimited(ASX:BEL)	52.5	36.2%
Metalloinvest Group	26	17.8%
Database SystemsLtd	12.5	8.6%
Orion EquitiesLimited(ASX:OEQ)	10	6.9%
Top 20shareholders	101	69.5%

Strike Resources Limited (ASX:SRK) Board of Directors

Chairman - Farooq Khan

LLB, BJuris (UWA)

Mr Khan is a qualified lawyer and has extensive experience in the securities industry, capital markets and the executive management of ASX listed companies. Mr Khan hasguided the establishment and growth of a number of public listed companies in the investment, mining and financialservices sectors. He has considerable experience in the fields of capital raisings, mergers and acquisitions and investments.

Managing Director - William Johnson

MA (Oxon), MBA, MAICD

Mr Johnson holds a Masters degree in Engineering Science from Oxford University, England and a Masters Degree in Business Administration from Victoria University in Wellington, New Zealand. Mr Johnson began his career in resource exploration and has since held senior management and executive roles in a number of public companies in Australia, New Zealand and Asia. Mr Johnson brings a considerable depth of experience in business strategy, investment analysis, finance and execution.

Director - Matthew Hammond

BA Hons

Mr Hammond is Group Managing Director and CFO of LSElisted Mail.ru, a leading European Internet communication and entertainment services group. Prior to that he was Group Strategist for Metalloinvest Holdings, where he had responsibilities for part of the non-core asset portfolio and advised the Board on strategic acquisitions and investments. He began his career at Credit Suisse and was Sector Head in Equity Research and in Private Bank Ultra High Net Worth Client Advisory.

Director - Malcolm Richmond

BSc Hons (Metallurgy) and B. Comm. Merit (Econs) (UNSW) Mr Richmond has 30+ years' experience in the resources industry with the Rio Tinto and CRA Groups where he held a number of positions including: Vice President, Strategy and Acquisitions; Managing Director, Research and Technology; Managing Director, Development (Hamersley Iron Pty Ltd) and Director of Hismelt Corporation Pty Ltd. He was formerly Deputy Chairman of the Australian Mineral Industries Research Association and Vice President of the WA Chamber of Minerals and Energy.

Director / Company Secretary - Victor Ho

BCom, LLB (UWA), CTA

Mr Ho has been in company secretarial/executive roles with a number of public listed companies since early 2000. Mr Ho has been actively involved in the structuring and execution of a number of corporate, M&A and international joint venture (in South America, Indonesia and the Middle East) transactions, capital raisings and management initiatives and has extensive experience in public company administration, corporations law and stock exchange compliance and shareholders relations.

Drilling and Studies undertaken to date

Year	Location	Region	MetresDrilled
2005	Opaban 1	Apurimac	1,564
2005	Opaban 3	Apurimac	1,102
2006	Opaban 1	Apurimac	2,168
2007	Opaban 1	Apurimac	3,587
2011	Colcabamba	Apurimac	2,336
2008	Ferrum 9	Apurimac	810
2008	Coriminas	Apurimac	1,811
2007	Los Andes	Apurimac	570
2007,2008	Santo Thomas	Cusco	16,933

Schedule of Drilling Schedule of Significant Studies Undertaken

Year	Study	Conducted By
2008	Pre-Feasibility Study	SRK Mining Industry Consultants
	Opaban I and I Resource Estimates	Snowden
	Mineralogical and PetrologicalCharacterisation of Strike ResourcesApurimac Opaban 1 Ore Samples	CSIRO
	PortStudies	COSAPI
2010	Process Plant and Port Filtration Facility Study	Ausenco
2010	ConceptualMine Study	SRK Consulting
2010	Concentrate Pipeline Study	Ausenco PSI
2010	Opaban I Resource Estimate	SRK Consulting
2010	RailwayStudy	Ausenco/Sandwell
2010	Rope Conveyor Study	Ausenco

JORC Mineral Resources (Peru)

Apurimac: Combined Mineral Resources for Opaban 1 and Opaban 3 Concessions

Category	Project	t/m3Density	Mt	Fe%	SiO%2	AlO%23	P%	S%
Indicated	Opaban1	4	133.71	57.57	9.46	2.54	0.04	0.12
Indicated	Opaban3	4	8.53	62.08	4.58	1.37	0.07	0.25
Inferred	Opaban1	4	127.19	56.7	9.66	2.7	0.04	0.2
Totals			269.4	57.3	9.4	2.56	0.04	0.16

Cusco

Category	Project	t/m3Density	Mt	Fe%	SiO%2	AlO%23	P%	S%
Inferred	SantoTomas	4	104.4	32.62	0.53	3.19	0.035	0.53
Totals			104.4	32.62	0.53	3.19	0.035	0.53

Apurimac: JORC Resource table was prepared and first disclosed under the 2004 JORC Code (in Strike's ASX announcement dated 11 February 2010: Peruvian Apurimac Iron Ore Project Resource Increased to 269 Million Tonnes) and has subsequently been upgraded to comply with the 2012 JORC Code and disclosed in Strike's ASX Announcement dated 19 January 2015: Apurimac Mineral Resources Updated to JORC 2012 Standard

Cusco: JORC Resource table was prepared and first disclosed under the 2004 JORC Code (in Strike's ASX announcement dated 17 June 2011: Cusco Project – Resource Estimate). It has not been updated since to comply with the 2012 JORC Code on the basis that the information has not materially changed since it was last reported.

JORC CODE COMPETENT PERSON'S STATEMENTS

JORC Code (2012) Competent Person Statement - Apurimac Project Mineral Resources

The information in this document that relates to Mineral Resources in relation to the Apurimac Iron Ore Project (Peru) is extracted from the following ASX market announcement made by the Strike Resources Limited on:

• 19 January 2015: Apurimac Mineral Resources Updated to JORC 2012 Standard

The information in the original announcement that relates to Mineral Resources and other Exploration Results (as applicable) in relation to the Apurimac Iron Ore Project (Peru) is based on, and fairly represents, information and supporting documentation prepared by Mr Ken Hellsten, B.Sc. (Geology), who is a Fellow of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Hellsten was a principal consultant to Strike Resources Limited and was also formerly the Managing Director of Strike Resources Limited (between 24 March 2010 and 19 January 2013). Mr Hellsten has sufficient experience which is 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 Mineral Resources and Ore Reserves" (JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

JORC Code (2004) Competent Person Statement – Cusco Project Mineral Resources

The information in this document that relates to Mineral Resources and other Exploration Results (as applicable) in relation to the Cusco Iron Ore Project (Peru) is based on, and fairly represents, information and supporting documentation prepared by Mr Ken Hellsten, B.Sc. (Geology), who is a Fellow of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Hellsten was a principal consultant to Strike Resources Limited and was also formerly the Managing Director of Strike Resources Limited (between 24 March 2010 and 19 January 2013). Mr Hellsten has sufficient experience which is 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 2004 Edition of the JORC Code. Mr Hellsten approves and consents to the inclusion in this document of the matters based on this information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

This document contains "forward-looking statements" and "forward-looking information", including statements and forecasts which include without limitation, expectations regarding future performance, costs, production levels or rates, mineral reserves and resources, the financial position of Strike, industry growth and other trend projections. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "is expecting", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Such information is based on assumptions and judgements of management regarding future events and results. The purpose of forward-looking information is to provide the audience with information about management's expectations and plans. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strike and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, changes in market conditions, future prices of minerals/commodities, the actual results of current production, development and/or exploration activities, changes in project parameters as plans continue to be refined, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns.

Australia

William Johnson Managing Director Strike Resources Limited (ASX:SRK)

Tel: +61 8 9214 970 0 wjohnson@strikeresources.com.au

31 31

21