SULTAN RESOURCES LTD — Investor Presentation 2020

Dec 1, 2020

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INVESTOR PRESENTATION – DECEMBER 2020 (ASX:SLZ)

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 historical exploration information compiled by Mr Steven Groves, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Mr Groves is Managing Director and a full-time employee of Sultan Resources Limited. Mr Groves has sufficient experience that is relevant to the style of mineralisation and type 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. Additionally, Mr Groves confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in the report.

INVESTMENT HIGHLIGHTS

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IMMEDIATE DRILLING

HIGHLY PROSPECTIVE GROUD

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POISED FOR TRANSFORMATIONAL DISCOVERY

active Lachlan Gold-Copper Belt, NSW

CORPORATE OVERVIEW

CAPITAL STRUCTURE

DIRECTORS & MANAGEMENT

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16.7m

69.5m

SHARES ON MARKET CAP ISSUE (M) (at $0.235)

JEREMY KING STEVE GROVES DAVID LEES Non-executive Chairman Managing Director Non-executive Director

6.0

OPTIONS (24c Aug 2023)

$3.8M

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CASH
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Access to incentivised, local technical team with combined 60+ years of success in discovery and project development in the Lachlan Orogen of NSW. Their experience covers project assessment, exploration, permitting, financing and development and includes involvement in discoveries such as the McPhillamy’s (>2Moz Au) and Tomingley Gold Deposits (>1Moz Au).

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7.50 $0.30
6.25 $0.25
5.00 $0.20
3.75 US$1,840/oz $0.15
2.50 US$1,640/oz $0.10
1.25 US$1,440/oz $0.05
0.00 $0.00
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
SLZ Trading Volume SLZ Share Price US$ Gold Price
Share Price (A$/share)
Trading Volume (millions)
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Focused on its highly prospective Lachlan Fold Belt Projects with strong indications of Cu and Au mineralisation and Lake Grace project which forms part of interpreted mobile zone that hosts the recent Julimar Ni-Cu-PGE discovery

EAST LACHLAN FOLD BELT

EXCELLENT ADDRESS

• Sultan holds key strategic land holding in the East Lachlan Gold – Copper Province of NSW

• World Class Macquarie Arc gold-copper porphyry terrain host to Major gold and gold-copper mining operations:

• Newcrest ’s Cadia Valley Operations (>50Moz Au, 8.7Mt Cu)

• Northparkes Copper-Gold Mine (5.2Moz Au, 4.4Mt Cu CMOC/Sumitomo)

• Cowal Gold Mine (>11Moz, Evolution Mining)

• MchPhillamys Gold Mine (+2Moz Au)

• Recent Boda discovery (ASX:ALK) has prompted a local boom in exploration activity in a highly competitive and completely held district

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Tucklan
Ringaroo
Big Hill
Razorback
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TUCKLAN – EL8734

DRILLING LATE NOVEMBER 2020

Strong correlation evident at Tucklan has elevated the prospect to a high-priority target with drilling to commence December

Staged programme of up to 12 RC holes with possible diamond tails

3.5 x 2.5km magnetic high coincident with:

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• Strong IP chargeability and resistivity response

• Large potassium radiometric anomaly

• Gold workings with quartz veins & pyritic breccias in argillic & potassic altered volcanics.

• Anomalous characteristics indicators of volcanic-related epithermal gold mineralisation

• Metal zonation and pathfinders = Epithermal Gold target

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See ASX Announcement 02/06/2020

TUCKLAN – EL8734

EXCEPTIONAL IP RESULTS

High potential to host significant porphyry-style Au-Cu and/or epithermal gold mineralisation

• High order, 1.6km x 600m IP chargeability anomaly defined beneath Au and Cu soil anomalies, outcropping gold mineralisation & undrilled historical workings

• Coincident resistivity anomalies associated with chargeability highs; Anomalous characteristics indicators of volcanic-related epithermal gold mineralisation

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• IP anomalies also coincident with previously identified magnetic high complex and remain open along strike to the south-east and north-west

• Significant Porphyry Au-Cu target, Glen Athol, defined

• Extension soil sampling completed, results pending; extension IP survey proposed

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See ASX Announcement 20/10/2020

BIG HILL – EL8735

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• 3 HIGH QUALITY TARGETS: DRILLING SCHEDULED FOR LATE Q1 2021

BIG HILL

• Alkalic porphyry Au-Cu target similar to:

• Giant Cadia-Ridgeway porphyry Au-Cu mine 50km to the south and,

• The Boda porphyry discovery approximately 50kms to the north.

RAZORBACK RIDGE and GOWAN GREEN

• High-grade Au-Cu skarn-style targets peripheral to Big Hill target

• Similar high-grade Au-Cu skarn-style mineralisation occurs peripheral to the Cadia Intrusive Complex

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BIG HILL – EL8735

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PORPHYRY COPPER GOLD – BODA-STYLE TARGET

Big Hill

• High grade rock chips up to 2.50% Cu

• Heli-magnetic data defines a prominent largescale magnetic body beneath surface Au-Cu geochemical anomalies

• Magnetic body interpreted as an underlying intrusive complex, possible source for high grade surface mineralization

• Au-Cu +pathfinder soil geochemical anomaly typical of alkalic Au-Cu systems

• Outcropping porphyry style propylitic ±alkalic lithocap style hydrothermal alteration with disseminated pyrite

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Magnetic zones extending to surface in positions copper and gold anomalism

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See ASX Announcements 20/05/2020, 27/08/2020

BIG HILL – EL8735

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CADIA-SKARN-STYLE TARGETS

Razorback Ridge

• 3km x 1km magnetic high coincident with:

• Large-scale Au-Cu soil anomaly

• High grade surface outcrop

• Geochemistry indicates a fertile system having Cadia and Northparkes exploration signatures

• Rock chip sample highlights:

  • 1.12g/t Au & 0.1% Cu 1.69g/t Au & 0.09% Cu 1.14g/t Au & 0.1% Cu 2.25g/t Au & 0.07% Cu

• 0.98g/t Au & 2.65% Cu 0.55g/t Au & 2.24% Cu 0.62g/t Au & 2.42% Cu 0.64g/t Au & 2.00% Cu 0.99g/t Au & 2.09% Cu

Gowan Green

• Discrete magnetic high anomalies

• Au-Cu + pathfinder geochemical anomaly

• Historical Cu-Au working with high grade rock chips (including 24.6g/t Au & 26.1% Cu, and 2.69g/t Au & 7.55% Cu )

• Outcropping silica-limonite skarns and chlorite altered mafic volcanic

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Site photo, looking north, of Razorback Ridge showing skarn trend and the location of a silica chlorite pyrite and hematite altered chalcopyrite mineralised vein breccia

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ON GOING GROUND WORK AT RINGAROO

AN EMERGING PORPHYRY TARGET

Ongoing exploration program designed to identify drill targets with high potential to host porphyry-style-Au-Cu mineralisation

• Very strong, 650m long I.P. chargeability anomaly associated with previously defined Au and Cu soil anomalies

• Coincident resistivity anomalies associated with chargeability highs

• I.P. anomalies also coincident with previously identified magnetic high complex and remain open to east and west

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IP Chargeability & Resistivity Cross Sections from line 683800mE

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See ASX Announcement 10/11/2020

LAKE GRACE: SURROUNDED BY MAJORS

Sultan’s Lake Grace project forms part of interpreted mobile zone that hosts the recent Julimar Ni-Cu-PGE discovery.

• Hosts ultramafic rocks with evidence of nickel and cobalt bearing sulphides in historic drilling

• Strong geophysical evidence for >25km of cumulative strike length of ultramafic rocks across Sultans Lake Grace portfolio

• Complements eastern Lachlan Fold Belt Gold-Copper Projects

• Prospective for gold

• Surrounded by major mining and exploration companies:

• Anglo American to north and

• west

• Gold Road Resources to the

• east

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See ASX Announcement 20/07/2020

TIMELINE OF IMMEDIATE ACTIVITY

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Review and interpretation
of all geochemical and Maiden drill
Maiden drilling at
geophysical results programme at
Big Hill and
complete Tucklan
Razorback Ridge
OCTOBER NOW NOV - DEC JANUARY FEB - MAR
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Drill permits lodged Drill plan finalised IP ongoing at Big Hill, Razorback, Tucklan

Initial assay results from Tucklan

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• Tight capital structure with $3.8m cash at bank

• Extensive groundwork at Lachlan fold belt indicates potential for high-grade gold and copper porphyry and epithermal gold deposits

• Drill programmes at Tucklan and Big Hill potentially

• Upcoming busy schedule of exploration activities and results – Tucklan, Big Hill and Lake Grace

• World class addresses: multiple producing mines surrounding Sultan tenements in Lachlan Fold belt and surrounded by majors at Lake Grace following Julimar

• Proven exploration and development team with

Poised for a major discovery

PEER COMPARISON

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$70
$60
$50
$40
$30
$20
$10
$0
$57.9
$37.4
$30.6 $31.2
$19.5
$16.7
$15.3 $15.5
$13.7
Market Capitalisation (A$ millions)
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Source: S&P Global, Terra Studio

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For more information contact E info@sultanresources.com.au W sultanresources.com.au