SUREFIRE RESOURCES NL — AGM Information 2024

Nov 28, 2024

ASX:SRN | FSE:GBL

Vanadium, Gold, Copper & Premium Iron Ore Annual General Meeting Presentation

Managing Director, Paul Burton, 29 November 2024

surefireresources.com.au

Disclaimer & Competent Persons Statement

This announcement contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'potential', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this announcement are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.

Competent Person and New Information Statements:

The information in this report that relates to exploration results has been reviewed, compiled and fairly represented by Mr Horst Prumm, a Member of the Australian Institute of Mining and Metallurgy ('AusIMM') and the Australian Institute of Geoscience ('AIG') and a fulltime employee of Prumm Corporation Pty Ltd. Mr Prumm has sufficient experience relevant to the style of mineralisation and type of deposits under consideration to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ('JORC') Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Prumm consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

The information in this report that relates to metallurgical results has been reviewed, compiled, and fairly represented by Mr Damian Connelly, a Member of the Australian Institute of Mining and Metallurgy ('AusIMM') and the Australian Institute of Geoscience ('AIG') and a fulltime employee of METS engineers. Mr Connelly has sufficient experience in the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ('JORC') Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Connelly consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

The information in this report that relates to the Victory Bore Vanadium mineral resource estimation is based on work completed by Mr. Stephen Hyland, a Competent Person and Fellow of the AusIMM. Mr. Hyland is Principal Consultant Geologist with Hyland Geological and Mining Consultants (HGMC), who is a Fellow of the Australian Institute of Mining and Metallurgy and holds relevant qualifications and experience as a qualified person for public reporting according to the JORC Code in Australia. Mr Hyland consents to the inclusion in this report of the information in the form and context in which it appears.

SRN confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, which all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not materially changed from the original market announcement.

Focus in 2024

• Progressing Development of one of Australia's Largest Critical Mineral Deposits
• Strategic Alignments For Project Development
• Increasing Management Team For Project Delivery
• Advancing Gold , Copper and Magnetite Projects in Portfolio
• Research and development into Alternative Vanadium Extraction Methods and HPA

Highlights in 2024

VICTORY BORE

• Pre-Feasibility Study completed
• Maiden Ore Reserve 93Mt
• Future Minerals Forum , Saudi Arabia
• MOU with AJLAN Bros. METAL AND MINING
• MOU with RASI Investment
• New Vanadium extraction leach /Prov Patent submitted
• HOA with Global Engineering Group. DRA Global
• Collaboration agreement with GERALDTON PORTS, MWPA.
• Dual listing on Frankfurt Stock Exchange
• EOI with HMS Bergbau AG for offtake

YIDBY GOLD AND COPPER

• Completion of leach test work; 68% increase in Gold content
• New Drill Targets selected from re-interpretation of data.
• Extensive Copper in soils anomaly uncovered; Potential for VHMS style.
• DRILLING UNDERWAY

PERENJORI

• Engaging with EPA for submission of proposed Mining and development plan
• Management of TEC plan proposed

CORPORATE

Appointment of experienced Mining Executive Jan De Jager

Corporate Snapshot

(1) as of 28 November 2024 (2) Exercisable into fully paid shares at $0.019 each, on or before 30.11.2026 (3) Exercisable into fully paid shares at $0.018716 each, on or before 6.12.2025, subject to vesting conditions

The Team

Executive Team

• 25+ years´ in Australian Mining sector
• corporate finance and deal making
• Chartered accountant

Jan de Jager - CEO

Paul Burton - MD

• 30+ years´ experience in natural resources from exploration to business development
• Geologist and mineral economist

Board of Directors

Vladimir (Roger) Nikolaenko - Executive Chair

• 40+ years´ experience in growing public companies from exploration to operation

Michael Povey - Non-Executive Director

• 40+ years´ worldwide experience in the resource sector from mine management to production & deal making

Roger Smith - Non-Executive Director

• Successful career as a businessman
• Extensive experience in public mining companies

The PFS results

PROJECTPARAMETER	UNIT	AMOUNT
Pre-taxNPVata10%discountrate	USD$M	$1,110
Pre-taxInternalRateofReturn	%	42.22%
CapitalCost	USD$M	$498
LifeofMine	Years	24
Pre-tax payback	Years	2.4
Exchangerate	USD:AUD	0.65

PRODUCTS

• 2,580 t/a High purity vanadium
• 5,760 t/a of Ferrovanadium
• 192,880 t/a of Titanium slag
• 364,480 t/a of Pig iron
• 245,480 t/a of High-grade iron ore

The Strategy

Current Strategy

• Mining & Beneficiation on Site (Australia)
• Shipping to Saudia Arabia for processing

Why Saudi Arabia?

• Memorandum of Understanding (MOU) with the Kingdom of Saudi Arabia has been signed
• Up to 50% of KSA processing plant CAPEX available from Saudi Investment Development Fund

Ore shipping from Australia

to Saudi Arabia

2024 Development

Heads of Agreement with DRA Global

• Agreement encompasses:
• Feasibility Study in Saudi Arabia and Australia
• EPCM, NPI
• Project delivery and operational readiness
• DRA have office in Riyadh and experience in process plant development in Saudi Arabia

Joint Cooperation Agreement with Mid West Ports

• Agreement aims to secure 1.25Mtpa export capacity
• Integral part of logistics

Vanadium Leach

• 97% Vanadium extraction into solution in 24 hours
• Provisional Patent application submitted

YIDBY Gold : New target generation

• Re-logging core and drill chips, re-interpretation IP data, structural review
• Drilling programme completed results awaited

	Target Area	Description	Priority
	1	High grade quartz stockwork vein system North-trending	1
	2	High grade quartz stockwork vein system North-trending	1
	3	Felsic quartz porphyry hosted Au mineralization	1
	4	Felsic quartz porphyry hosted Au mineralization	1
	5	Quartz vein hosted lower-grade mineralization West-northwesttrending	2
	6	Quartz-albite vein hosted mineralization, high uncertainty inlocation in the drill core, review gold assays	3

Refer ASX release 17 October 2024.

YIDBY Copper: New Geochemical targets

• Review of historical information
• Native copper and sulphides in historic drilling
• Soil geochemical surveys by Surefire uncovered area of 3km x 2km of anomalous Cu and Zn

PERENJORI: High Grade Magnetite

• Green steel project –15km from Rail to Geraldton
• Up to 70% Fe after beneficiation
• Environmental assessment in progress

Overview: Tier 1 Projects in Tier 1 jurisdiction

Why Vanadium?

Efficient Energy Storage: Vanadium Redox batteries allow efficient and scalable energy storage

Why Surefire Resources?

Ticking the boxes: World-class project, great economics (PFS) and experienced team coming together

Why Premium Iron Ore?

Reduction in carbon emissions: Green steel production relies on higher-grade ore to be used in electric arc furnaces instead of coal

Why Australia?

Safe Geopolitcal Jurisdiction: 99% of the global vanadium mined is extracted in BRICScountries. Western Australia mines supplying globally

Investment Highlights

99% of the vanadium mined is extracted in Brazil, Russia, China, South Africa (BRICS) We are diversifying the supply chain

Developing one of Australia largest vanadium and premium iron ore deposits

Drilling underway at Gold and Copper assets

Clear development plan for Victory Bore with a beneficiation plant on site and plans for processing (MOU with KSA)

Experienced management team

Strong economics bring enormous upside potential with manageable downside risk

Next Steps

Victory Bore:

• Secure binding JV agreements
• Secure funding for development work
• Secure Offtake Agreements
• Complete permitting and other studies
• Progress Vanadium extraction test work

Yidby Gold and Copper:

• Assess results from recent drilling and sampling Perenjori:
• Progress environmental approval

ASX:SRN | FSE:GBL

Vanadium, Gold, Copper & Premium Iron Ore Annual General Meeting Presentation

Managing Director, Paul Burton, 29 November 2024

surefireresources.com.au