SUPERIOR RESOURCES LIMITED — AGM Information 2018

Nov 29, 2018

Annual General Meeting 30 November 2018

Superior Resources ASX: SPQ

Important information

Information Purposes: This document is for information purposes only. The information contained in this document 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 document 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 document 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 document 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 document 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 document. Other than as required by law and the ASX Listing Rules, Superior disclaims any duty to update forward looking statements to reflect new developments.

Exploration Results and JORC: The reporting of exploration results and mineral resource estimates in this document reflects the information that was originally reported in market announcements that have been referenced in the body of this document. Superior confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement. Investors and any person viewing this document should refer to the market announcements made by Superior (ASX:SPQ), which can be viewed at: http://www.asx.com.au/asx/statistics/announcements.do.

Superior Resources is an Australian exploration company focused on large "Tier 1" projects in northern Queensland.

• ASX exposure to entry-level Tier 1 (world class potential) zinc and copper exploration projects is limited
• Compelling investment undervalued relative to industry sector peers

Exposure to significant value growth potential:

• Tier 1 "giant-sized" targets
• Battery Metals Cu, Co, Ni (and Zinc?)
  • Nicholson / Victor (100%) "Mount Isa style" lead-zinc-copper targets within the globally significant Carpentaria Zinc Province.
  • Greenvale (100%) "Macquarie Arc home to giants" Lucky Creek Corridor copper, gold, nickel-cobalt, zinc.
  • Battery Metals (100%) 3 key nickel-cobalt projects Lucky Creek, Big Mag* , Walford Creek West.

1. Nicholson Project (SPQ 100%)

• Zinc, Lead, Copper, Cobalt, Silver
• 5 Tier 1 targets
• 1 Battery Metals project + 1 Uranium project
• Most are ready to drill
• Area: 332 km2

2. Victor Project (SPQ 100%)

• Zinc, Lead, Copper, Silver
• Several Tier 1 targets
• Area: 1,135 km2

3. Greenvale Project (SPQ 100%)

• Copper, Gold, Nickel-Cobalt, Zinc
• Progressing towards a Tier 1 copper deposit
• 2 Battery Metals projects
• Area: 648 km2
• 2017 & 2018 drilling identified:
  • ― large copper system (Bottletree)
  • ― 85,000 ounces gold Maiden JORC Mineral Resource (Steam Engine)

Corporate snapshot / Stock performance

6

Corporate structure

2018 Highlights

▪ BOTTLETREE – Identified a large mineralised copper target

• ➢ IP survey identified large chargeability anomaly beneath extensive near-surface copper
• ➢ First diamond core drilling returned considerable copper mineralisation

▪ BATTERY METALS – Identified new prospective projects

• ➢ Lucky Creek (12km from SCONI) drilled 2018
• ➢ Big Mag (25km from SCONI) Application expected to be granted Jan 2019
• ➢ Walford Creek West (15km from Walford Creek)

▪ NICHOLSON PROJECT – Strategy and planning

• ➢ 5 Tier 1 drill targets
• ➢ Advanced discussions with a well-funded party

▪ STEAM ENGINE – Maiden inferred gold resource estimate

• ➢ 1.0Mt @ 2.5g/t gold (1.0g/t cut-off) for 85,000 ounces gold1
• ➢ Resource based only on 400m portion of 2.5km strike length of lodes

GREENVALE PROJECT A unique world class Macquarie Arc opportunity

• The Macquarie Arc hosts the giant Cadia and North Parkes porphyry Cu-Au mines in NSW
• The unique opportunity: Greenvale rocks are the northern remnant of the Macquarie Arc - Underexplored
• SPQ holds most of the Greenvale Macquarie Arc ground

Reconstruction of the Macquarie Arc across eastern Australia

in review.

GREENVALE PROJECT

Greenvale Project includes 8 drill-ready targets, highly prospective for:

› Bottletree

(drilled 2018) identified a large copper system over several km2 .

› Big Mag

(grant expected Jan 2019) Large nickel-cobalt, copper-gold target

› Steam Engine

(drilled July 2017) shear-hosted high grade gold lodes

1.0Mt @ 2.5g/t gold (1.0g/t cut-off) for 85,000 ounces gold2

› Galah Dam

(drilled July 2017) gold-zinc-copper porphyry / VMS

2: ASX announcement dated 19 October 2017

› Cockie Creek

Significant porphyry copper target. Historic drilling returned broad, low-grade primary copper intersections (94m @ 0.53% Cu from 121m) 3

› Wyandotte

Intrusive related and possibly porphyry copper mineralisation

› Halls Reward

Cyprus style VMS target at an old copper mine which produced high-grade secondary copper

› One Mile

Covers an area of 128ha with strike length 800m. Recent drill holes intersected a disseminated to massive pyrite zone

Greenvale Project: Bottletree

• Recently identified large-scale copper deposit.
• MIMDAS IP survey completed May 2018:
  • Large, strong chargeability anomaly
  • Beneath near-surface copper
• Diamond drilling program targeting chargeability anomaly completed August 20184 :
  • High grade copper (18.7m @ 1.12% Cu)
  • Broad Cu mineralisation (292m @ 0.22% Cu)
• 3D modelling large copper target lies at depth.

4: ASX announcement dated 30 September 2018

Greenvale Project: Bottletree

• SBTRD0065 :
  • 18.7m @ 1.12% Cu
  • 292m @ 0.22% Cu
• Large chargeability target at +400m
• Copper grades correlate well with chargeability response
• 1.4km long anomaly, open to the north and south

Greenvale Project: Bottletree

Delivering size and grade potential

* Subject to funding

Greenvale Project: Big Mag

• Characterised by a regionally large, intense magnetic anomaly of ~25km2
• High potential for nickel-cobalt, coppergold mineralisation
• Very limited historic exploration few drill holes on the NE margin – otherwise unexplored
• Mafic and ultramafic intrusive rocks with overlying laterite and tertiary sediments
• Tenement application expected grant in January 2019

Greenvale Project: Big Mag

• A series of mafic and ultramafic intrusions based on historic drilling, magnetics and petrology of drill hole samples.
• Considered to be related to the same series of rocks as Greenvale Nickel Mine (SCONI).

• Historic drill holes

NICHOLSON and VICTOR PROJECTS – TIER 1 ZINC World class Mount Isa-style zinc-lead-copper targets

Getting ready for 2019

• Located northwest of Mount Isa within Carpentaria Zinc Province which contains 20% of the world's zinc inventory.
• Underexplored this is the most likely area to make the next Mount Isa discovery.
• Nicholson is 90km NNW of Century Zinc Mine and 5kms south of Walford Creek (Aeon Metals).
• Productive geological rocks and conditions.
• Recent endorsement by a Major Teck.
• 2019?

Nicholson Project – Multiple word class Mount Isa style targets

Is persistence about to pay off?

• Advanced discussions with a well-funded party
• 5 Century or HYC sized targets
• No previous drilling on 4 targets
• Significant VTEM anomaly with direct evidence of base metal mineralisation (Nicholson West)

Board and senior management

The Board and senior management team have deep exploration and technical expertise coupled with extensive corporate experience

Carlos Alberto Fernicola

Non-Executive Chairman B.Com, FCA, F Fin, FCIS, FCSA, GradDipAdvAcctg, GDipAppFinInv, GDipAppCorpFin

• 30+ years of experience in accounting, taxation, audit and the financial services industry
• Appointed a Non-Executive Director in 2014
• Fellow of Institute of Chartered Accountants Australia and New Zealand, Fellow of the Governance Institute of Australia and Fellow of the Financial Services Institute of Australia

Peter Henry Hwang

Managing Director B.Sc. (Hons), LLB, MAIG, MGSA, MQLS

• 12 years of experience in mineral exploration, 18 years in mining and resources law
• Gold, base metals and diamond exploration geologist
• Solicitor specialising in mining, commercial, mining and infrastructure regulatory and native title law, previously with Freehills, Blake Dawson / Ashurst and Minter Ellison
• Former director of junior resources companies; A founding director of ActivEx Limited (ASX:AIV)

Kenneth James Harvey

Non-Executive Director M.Sc., Dip. Ed., MAusIMM, MAIG, MSEG, MGSA

• 46+ years of experience in mineral exploration, project evaluation and management and resource estimation and evaluation and exploration management
• Previous long-standing member of the exploration and gold development divisions of MIM Holdings Limited

SUPERIOR – the next 12 months …..

▪ Exciting forward programs planned, targeting high impact zinc, copper and gold prospects

	Q4 2018	Q1 2019	Q2 2019	Q3 2019
NICHOLSON PROJECT
Conclude discussions with well-funded party
Nicholson West		TBA
BIG MAG
Grant of tenement
Conduct Initial exploration program
BOTTLETREE
Detailed geological surface mapping and other studies at Bottletree
Phase 2 diamond drilling program
Assay results –Phase 2 drilling
Phase 3 diamond drilling –TBC

A compelling value proposition

Significant exposure – Tier 1 zinc exploration – High potential copper – Battery Metals Carpentaria Zinc Province & Ancient Porphyry Belt

• Current share price does not reflect the value or significant exploration upside of SPQ's zinc, copper, gold and Battery Metals portfolio
• Direct exposure to the increasingly positive market dynamics of zinc, gold and copper
• Substantial exposure to "Battery Metals" markets
• Extensive 2019 drilling programs will provide strong news flow and share price catalysts
• Planned 2019 commencement of exploration on Tier 1 zinc project Nicholson
• Board and senior management have a proven track record of discovering, developing and funding projects and are well invested in the success of the company

SUPERIOR RESOURCES Think big for 2019

www.superiorresources.com.au

1. Victor Project

A world class Mount Isa style lead-zincsilver, copper exploration project.

• Located 75km northwest of Mount Isa.
• Underexplored.
• 100% ownership project comprises 6 exploration permits, covering at least 1,135km2 .

Victor Project

Leakage Concept

Exploration strategy based on the mechanism of geochemical "leakage" of key metals (lead, zinc and copper) from a deeper Proterozoic source into younger overlying sediments.

Geological concept

Location of project and tenements

Victor Project Victor Project has significant surface indications of zinc and lead

Imaging of soil lead Imaging of zinc

Victor Project Multiple datasets – compelling indications of a mineralised buried Mount Isa style setting

Soil lead geochemical anomalies coincident with deeper large basement structures