SUPERIOR RESOURCES LIMITED — AGM Information 2016

Nov 16, 2016

Annual general meeting 17 November 2016

Important information

Information Purposes: This presentation is for information purposes only. The information contained in this presentation does not constitute an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in Superior Resources Limited (Superior) in any jurisdiction. The information in this presentation is provided in summary form, has not been independently verified, and should not be considered to be comprehensive or complete.

Not Financial Product Advice: This presentation does not constitute financial product or investment advice. It has been prepared without taking into account the objectives, financial circumstances or needs of recipients and cannot be relied upon as advice to recipients. Before making an investment decision, investors or prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction.

Forward Looking Statements: This presentation may contain forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", "indicate", "target", "anticipate", "forecast", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Indications of, and interpretations on, future expected exploration results or technical outcomes, production, earnings, financial position and performance are also forward looking statements. The forward looking statements in this presentation are based on current interpretations, expectations, estimates, assumptions, forecasts and projections about Superior, Superior's projects and assets and the industry in which it operates as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made. The forward looking statements are subject to technical, business, economic, competitive, political and social uncertainties and contingencies and may involve known and unknown risks and uncertainties. The forward looking statements may prove to be incorrect. Many known and unknown factors could cause actual events or results to differ materially from the estimated or anticipated events or results expressed or implied by any forward looking statements. All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements. Disclaimer: Superior and its related bodies corporate, any of their directors, officers, employees, agents or contractors do not make any representation or warranty (either express or implied) as to the accuracy, correctness, completeness, adequacy, reliability or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law. Superior and its related bodies corporate and each of their respective directors, officers, employees, agents and contractors disclaims, to the maximum extent permitted by law, all liability and responsibility for any direct or indirect loss or damage which may be suffered by any person (including because of fault or negligence or otherwise) through use or reliance on anything contained in or omitted from this presentation. Other than as required by law and the ASX Listing Rules, Superior disclaims any duty to update forward looking statements to reflect new developments.

The information in this presentation that relates to exploration results in respect of the Greenvale, Riesling and NW Qld lead/zinc projects is based on information compiled by Mr Ken Harvey, a director and shareholder of the Company, who is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Harvey 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 Exploration Results, Mineral Resources and Ore Reserves. Information relating to mineral resources are based on information compiled by Mr Ken Harvey as a Competent Person under the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Harvey consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

Company Snapshot

• Tier 1 calibre exploration projects
• Potential cash flow from Tick Hill Tailings Reprocessing Project
• Material exposure to: Zinc – Gold – Copper
• Nicholson Project Zinc/Lead Copper

• ("The Next Mt Isa")

• Victor Project Zinc/Lead Copper

• Tick Hill Gold Project Gold
• Steam Engine Gold (under EPM application)
• Greenvale Copper/Gold
• New projects:
• active focus on new project acquisition

Corporate Summary

ASX CODE: SPQ

Ordinary shares	279 million
Options (listed/unlisted)	Nil
Market cap.	\$1.4 million
Cash and listed assets	A\$124,000
7,000,000 DYL Shares	A\$63,000
Shareholders	529

Total top 20 holders: 64.02%

12 month price and volume

Board of Directors

• Carlos Fernicola Chairman
• Over 30 years in accounting, taxation audit, financial services industry, Chartered Company Secretary
• Peter Hwang Managing Director
• 17 years in resources, native title and corporate law 10 years in mineral exploration
• Ken Harvey Non-executive Director
• 42 years in base metals mineral exploration, project evaluation, resource estimation and exploration management

Projects overview

Gold

• Tick Hill high grade gold
• Tick Hill tailings reprocessing
• Steam Engine (under application)
• Zinc-Lead-Copper
• Victor Project (Mount Isa Style "The Next Mt Isa")
• Nicholson Project (Mount Isa Style – Teck JVA)
• Copper-Gold
• Greenvale Project (VMS and Porphyry Copper)
  • One Mile Dam VMS
  • Cockie Creek Porphyry
  • Wyandotte
  • Galah Dam
  • Bottletree
  • Halls Reward (Ninety Mile)

Summary 2016 – Gold

Tick Hill Gold Tailings Project

• Completed maiden resource estimate
• Completed metallurgical testing
• Completed scoping study (CIL processing)
• Completed initial gravity testing

Steam Engine Gold Deposit

Priority Applicant Status

• Application EPMA 26165 "Cockie South"
• Successfully obtained priority applicant status

Corporate / commercial

Gold Mining Alliance

• Entered into a Gold Mining Alliance and Joint Venture Agreement with Dysart Mining Group

Summary 2016 – Zinc-Lead-Silver

NW Qld Projects (Zinc-Lead-copper-silver)

Nicholson Project

• Earn-in and JV Teck Australia
• Completed 3-D geological modelling
• Completed land access requirements
• Commenced field exploration
• Completed Audio Magneto-telluric (AMT) survey
• Processing and interpretation of AMT data

Victor Project – "The Next Mt Isa"

• Grant of new tenements EPM25264 and EPM25843
• Data compilation and modelling of geophysical data

Greenvale Project

Riesling Project

• Completed - initial drilling program

Summary 2016 – Copper-Gold

Greenvale Project (Zinc-Lead-copper-silver)

• New EPM application
• Application EPMA 26165 "Cockie South"
• Successfully obtained priority applicant status

Drilling program planning

• Completed geophysical data compilation and modelling
• Completed target generation
• Completed drill program planning

Focus for 2017

• Commodities Focus: Gold Zinc Copper
• Gold strong and proven fundamentals esp. for juniors
• Zinc developing bull market
• Copper price increases and favourable outlook
• Tier 1 exploration projects:
• Substantial exposure to zinc and copper sectors
• 2 potential company-maker zinc projects
• Potential company-maker gold project
• Exploration in 2017:
• Gold Copper Greenvale: drilling of drill-ready targets
• Gold Tick Hill: evaluate tailings project and underground exploration project
• Zinc Nicholson Project: \$2,500,000 Earn-In by Teck
• Zinc Victor Project: developing exploration programs

Focus for 2017

• New project acquisition opportunities
• Commodities cycle timing now is the opportune time
• Commodity sectors Gold, Zinc, Copper focus
• Project types
  • advanced stage exploration or pre-
  • production
  • strategic exploration position
• Industry sector-leading Board skill-set
  • very low transactional costs, high efficiency
  • acquisition procedures and tools in place
• Low company overhead costs

Tick Hill Gold Project High Grade Gold Potential cash flow

Gold – 2017

Tick Hill – Two projects

• Tailings reprocessing assessment
• Old mine tailings
• Mine rock dumps
• Potential residual underground ore
• Exploration opportunity
• High grade historic gold production 513,333 ounces of gold at a recovered grade of 22.6 g/t gold
• At \$1,466/ounce worth A\$753 million
• Granted mining leases
• Excellent exploration target the faulted offset of the mined gold shoot
• Potential for discovery of another 500,000oz ore body

Tailings Dam Assessment

Drill Program	Western Paddock g/t Au	Eastern Paddock g/t Au	Overall – Tailings Dam g/t Au
First Stage Program	0.73	1.42	1.04
Second Stage Program	0.88*	1.43	1.12*
Overall (g/t)	0.81*	1.42	1.08*

• 55 air-core holes, 398m drilled, 373 geochem samples
• Metallurgical test work indicates:
• Significant water-soluble gold content 11-15%
• Cyanide leach 95% 98% recovery of contained gold (Fine Grind)
• Simple extraction no refractory gold

Next steps

• Process and grinding optimisation
• Process flowsheet design
• Feasibility/scoping study

Tick Hill – Exploration Opportunity

• Evaluating datasets
• Developing exploration strategy

Steam Engine Gold Deposit

(under EPM application)

Gold-2017

Superior Resources Limited

Gold – 2017

Steam Engine Gold Deposit (under EPM application)

• 2 main gold lodes
• Steam Engine Lode
• Eastern Ridge Lode
• Southern Zone Lodes

Historic drilling

• Covered by MDL from 1991 to recent
• Extensive drilling on Steam Engine Lode
• Shallow drilling within top 120m
• Only 1 deeper hole confirmed continuity

2017 program

• Establish a Mineral Resource
• Expand on Mineral Resource at Steam Engine and Eastern Ridge Lode

Gold – 2017

Steam Engine Gold Deposit (under application)

Zinc-Lead-Copper - 2017

Northwest Qld Projects Tier 1 exploration projects Nicholson Project Victor Project - "Next Mt Isa"

Zinc trends

Zinc trends

Zinc Trends

• Physical metal market enters supply deficit
• Shift from Bear market to Bull market – delayed reaction
• CRU's Zinc Market Outlook (July 2016): "further significant price increases look likely through the course of next year"

Zinc-Lead-Copper – 2017

Tier 1 Projects – Large zinc-lead-silver deposits

• Victor Project "Next Mt Isa"
• Nicholson Project Teck Earn-In and JVA

Mount Isa to Century - Mag (RTP) and Gravity

Zinc-Lead-Copper – 2017

Mount Isa to Century - Lead and Zinc

Zinc-Lead-Copper - 2017

Zinc-Lead-Copper – 2017

Nicholson Project (Teck JVA)

• Mt Isa Style zinc-lead-copper
• Earn-in and JVA Teck Australia
• Teck proceeds to Earn-In
• \$2.5m exploration spend
• Audio Magnetotellurics (AMT) survey completed
• Preliminary results expected December 2016

• Teck can earn 70% by:

• minimum expenditure of \$250,000 by 30 September 2016 (or paid in cash); and
• \$2,250,000 expenditure by 31 December 2018.

Zinc-Lead-Copper – 2017

• Superior's zinc projects very significant potential for Mount Isa style deposit
• Five advanced prospects with potential for large Mount Isa style copper and lead-zinc-silver deposits.
• Four high priority drill targets defined.
• Historically not explored.
• Teck proceeding to \$2.5m Earn-In Nicholson Project
• Superior holds most of the prospective ground as Exploration Permits or Applications.
• Superior holds a commanding position in zinc.

Greenvale Project Drill-ready targets for 2017

GREENVALE PROJECT – Drill-ready targets

• Steam Engine Gold Deposit (under application)
• One Mile Dam (VMS Copper)
• Galah Dam (Gold-Zinc-Copper)
• Cockie Creek (Porphyry Copper-Gold)
• Bottletree (Porphyry Copper)
• Halls Reward (Ninety Mile) Copper

GREENVALE PROJECT – Remnant of Ordovician Porphyry Belt

• Ordovician porphyry belt extends through northern NSW
• Hosts the large Cadia and North Parkes porphyry copper mines

Superior Resources Limited

EPM18187

Wyandotte

EPM25653

×

EPM25691

d Green

w

7920000.0

2910000 mi

Halls Reward

ERW25091

Ą

10km

GREENVALE PROJECT – Cockie Creek Prospect

• Maiden mineral resource (JORC 2004) 13Mt @ 0.42% copper (ASX announcement 27 March 2013)
• Potential for significant porphyry copper deposit

GREENVALE PROJECT – Galah Dam Prospect

• Large alteration zone similarities to nearby Balcooma Copper-Zinc-Polymetallic Mine
• Historic drilling with Zinc-Gold-Copper intersections
• IP chargeability anomaly drill target

GREENVALE PROJECT - Galah Dam Prospect

GREENVALE PROJECT - Galah Dam Prospect

GREENVALE PROJECT - Galah Dam Prospect