SULTAN RESOURCES LTD — Investor Presentation 2018

Sep 10, 2018

Investor Presentation

September 2018

Important Notices

Disclaimer

This presentation has been prepared by Sultan Resources Limited (Sultan). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Sultan has no reason to believe that it is not accurate, reliable or complete, it has not been independently verified or audited by Sultan.

Forward Looking Statements: This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Sultan Resources' exploration program and other statements that are not historical facts. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Sultan believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Sultan makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Sultan and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Sultan (and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

Competent Persons Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Steve Groves, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Steve Groves is Managing Director and a full-time employee of Sultan Resources Limited . Mr Groves has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Groves consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Corporate Overview

• Corporate advisor with over 15 years experience in domestic and international legal, financial and corporate matters
• Extensive corporate experience and substantial global network
• Board Member of a number of ASX-listed entities

Steve Groves – Managing Director

• Geologist with over 25 years' exploration experience across a broad range of commodities and jurisdictions
• Currently a non-executive director of Six Sigma Metals Ltd (ASX: SI6) and has held exploration and management roles with BHP Billiton (ASX:BHP), Newmont Mining, Newcrest Mining (ASX:NCM) and A-Cap Resources (ASX:ACB)

Lincoln Ho – Non-Executive Director

• Ten years experience in equities trading, with a strong focus in corporate restructuring, due diligence, mergers & acquisitions in the emerging companies sector.
• Investor relations experience in Asia, with a network of high net-worth investors based in Singapore and China
• Board Member of a number of ASX-listed entities

Eddie King – Non-Executive Director

• Experience includes specialisation in the technical and financial analysis of global resource projects for equity research and mergers and acquisitions. Also possesses expertise in stockbroking and corporate advisory where he specialised in providing services for micro-cap ASX-listed companies
• Board Member of a number of ASX-listed entities

Capital Structure Fully Paid Shares 31,750,203

Restricted Shares(947,500 escrowed for 12 months and 4,802,703 for 24 months post listing)	5,750,203
Options @ 24c (exercisable by 14 Aug 2023)	6,000,000
Enterprise Value (@ 0.18c)	$1.5m
Cash Balance (after IPO costs)	$4.3m

• Low Enterprise Value leveraged to exploration upside
• Cash balance of ~$4.3M
• Represents ground floor value entry point
• Diverse commodity portfolio of quality assets
• Projects are adjacent to recent discoveries with

strong market appeal

The Sultan Opportunity

A diverse, multi-commodity portfolio of quality assets

Value Proposition	Diverse Portfolio of QualityAssets	Experienced Team
•Multi-commodity portfolio•Exposure to Nickel, Cobalt, Gold and BaseMetals•Ni-Co and Au projects early focus•Projects are adjacent to recent discoverieswith strong market appeal•Low EV	•Quality Gold Assets in emerging terranesneighbouring recent discoveries•ThadunaProject•Lake Grace Gold Project•East Tallering Gold Project•Dalwallinu Gold Project•Strong Nickel-Cobalt potential with evidence ofsulphides in historic drilling	•Highly experienced Board with extensivefinancial network•Managing Director with over 25 yearsexploration experience•All Management Team maintain Boardpositions with a number of ASX-listed Juniorexplorers•Close relationships with key partners:
•Represents ground floor value entry point	•Lake Grace Ni-Co project	•Corporate: Xcel Capital, ARQ Capital

• Technical: Zephyr Professional

Active news flow post listing

• Granting of Lake Grace tenements
• Drilling program to commence September 2018 AC drilling at Thaduna
• Commencement of geophysics at Lake Grace
• Results from Thaduna drilling
• Results from Lake Grace geophysics and drill target generation
• Neighbouring drilling/ exploration activity to complement news flow

Timeline of Immediate Activity

Positive News Flow

Project Portfolio

Quality, under-explored multi-commodity landholding

• Diverse portfolio containing 946 km2 of highly prospective Gold, Nickel, Cobalt and Base Metal ground
• All licences exhibit:
  • Significant landholding in under-explored Yilgarn greenstone belts
  • Premium address with quality exploration neighbours (Lodestar Minerals, Gold Road Resources, Sandfire)
  • Proximity to significant recent discoveries (Lodestar, Lake Grace)
  • Highly anomalous historic exploration results and mineralisation to follow up
  • Drill-ready targets
• Initial Work Program with multi-commodity approach:
  • Walk-up drilling for Gold next to Lodestar's Ned's Creek Gold Discovery
  • Geophysics and ground exploration to identify drill targets over a large area prospective for Ni-Co at Lake Grace

Thaduna Project

The Right Address

Geology

• 22km2 covering rocks of the Proterozoic Yerrida Basin (DeGrussa Cu-Ag) and Archean Baumgarten Greenstone Belt (Neds Creek Au)
• Prospective for copper, gold, nickel and base metal mineralisation.

Neighbours:

• Lodestar Minerals
  • 573 km2 adjacent to Sultan's ground
  • Discovered Ned's Creek high-grade gold system that trends towards Sultans portfolio
• Sandfire Resources

  • 1200 km2 hosting major Cu-Au-Ag deposits at DeGrussa and Thaduna

  • Host rocks occur on Sultans ground
• Australian Mines
  • ~250 km2 adjacent to Sultan's ground, exploring for high-grade gold mineralisation
  • Spin-off into new IPO Norwest Gold

Thaduna Project

Significant Gold System discovered on doorstep

LSR's Ned's Creek Discovery:

• Interpreted as a large, intrusive-related gold system
• Gold Mineralisation occurs in structures along Granite / Greenstone contact
• Granite contact and structures are interpreted to extend / occur in SLZ's portfolio

Sultan Initial Exploration Drilling

• SLZ have ~1.5km of granite contact in E52/3481, along strike from Boundary Fence prospect
• SLZ to commence with Aircore drilling to establish geological framework and geochemical anomalies
• All Targets to be followed up with deeper RC

LSR Drilling Results sourced from: ASX announcement 03/08/2018, Sultan Resources' Prospectus 14/08/2018. AUZ Drilling Results sourced from Sultan Resources' Prospectus 14/08/2018

Lake Grace Projects

Emerging Exploration District with recent Nickel, Cobalt and Gold Discoveries

• 690 km2 in SW Terrane of Yilgarn Craton
• Sultan's tenements have high prospectivity for Gold and Nickel – Cobalt mineralisation
  • Ni-Co sulphides intersected in historic drilling
  • Thick sequences of gold-mineralised mafic granulite intersected in historic drilling
• Area host to:
  • Quicksilver Ni-Co Discovery (G88)
  • 30Moz Boddington Deposit (Newmont)
  • Tampia (EXU) and Katanning Gold Deposits (AUC)
• Neighbours:
  • Gold Road Resources (Mkt Cap: $575m)
  • Cygnus Gold
  • Explaurum Limited
  • Golden Mile Resources
  • Ausgold Limited
  • Venture Minerals

Lake Grace Projects

Nickel-Cobalt

• 157km2 of ground prospective for Ni-Co
• Tenements contain large body of ultramafic rocks showing:
  • elevated Ni+Co levels close to surface and;
  • Ni-Co sulphides in historic drilling
• Quicksilver Ni+Co+Sc discovery 60km to southeast by Golden Mile Resources (G88)

Work Program

• Geophysical EM survey to detect conductive bodies
• Ground reconnaissance
• Drilling to test conductors

Lake Grace Projects Gold

• Tenements contain >50km strike of sheared metamorphosed Archean sequences containing strong surface gold anomalism
• Thick sequences of goldmineralised mafic granulite intersected in historic drilling
• Geology similar to host rocks at Tampia and Katanning gold deposits

Work Program

• Gravity and magnetic survey to outline mafic host rocks and structures
• Drilling to test prospective host rocks in areas of existing gold mineralisation

Dalwallinu Gold Project

High-grade gold potential

• 167km2 covering Yerlering Fault Corridor containing sheared greenstones
• Surrounds Pithara Gold Mine (not included) where drill intercepts to 7m @ 21.8g/t and 4m @11.8g./t Au have been recorded
• Structure hosting Pithara Gold Mine extends north and south through SLZ's ground for over 20km of strike
• Previous drilling shows mineralisation to continue into SLZ's ground

Section through high-grade Pithara Gold Mine

Tallering East Gold Project

Along strike from emerging gold + base metals province

• 66km2 covering eastern portion of Tallering Greenstone Belt
• Adjacent to Kalamazoo Resources Snake Well Gold Project and Conquistador Base Metal Project
• Extensive shallow gold mineralisation
• Bedrock mineralisation never been drill tested
• Walk up deep drill targets

Summary of Opportunity

• Diverse portfolio of quality assets in emerging exploration destinations
  • Prospective for Nickel, Cobalt, Gold, Copper, Base Metals
  • Existing walk-up drill targets
  • High discovery potential
• Projects are adjacent to recent discoveries with strong market appeal
• Well Funded strong support for IPO
  • $4.8m Capital Raise for IPO
  • Low EV
  • Timeline of exploration activities regular news flow
• Experienced Board and Management

info@sultanresources.com.au sultanresources.com.au