SUREFIRE RESOURCES NL — Investor Presentation 2023

Oct 30, 2023

SUREFIRE RESOURCES CORPORATE PRESENTATION

International Mining and Resources Conference and EXPO, Sydney, Australia.

Australian mineral exploration company Surefire Resources NL (ASX: SRN) ("SRN" or the "Company") is pleased to advise that it has released a presentation by its Managing Director, Mr Paul Burton, at the International Mining and Resources Conference, Sydney, Australia.

Title: "The World class Victory Bore Project"

The presentation will also be available on the SRN website.

Mr Paul Burton and the Chairman, Mr Vladimir Nikolaenko, will be conducting pre-arranged meetings at the Conference with a visiting delegation from the Ministry of Investment, Saudi Arabia (MISA) and Saudi Companies to progress its plans for downstream processing in the Kingdom of Saudi Arabia (KSA), in addition to meetings with groups and companies from South Korea, Japan, together with investors.

Authorised by:

Paul Burton, Managing Director

Inquiries: Paul Burton +61 8 6331 6330.

About Surefire Resources:

Surefire Resources is an Australian mineral exploration company based in Perth, Western Australia (WA). The company holds mineral exploration licences over a variety of resources located in WA. Its focus is on adding value to shareholders by advancing its Victory Bore vanadium critical and battery minerals project, located close to existing infrastructure and currently in Pre-Feasibility stage. In addition, its large high grade Iron project and it's Gold project have potential to add considerable value to the company.

THE VICTORY BORE VANADIUM THE WORLD CLASS VICTORY BORE PROJECT 31 October – 2 November 2023

PROJECT IMARC Conference & Expo, Sydney, Australia

IMPORTANT INFORMATION

The information in this report that relates to Exploration results is based on information compiled by Mr Marcus Flis who is a Fellow of the Australian Institute of Geoscientists. Mr Flis is an independent Principal Consultant at Rountree Pty Ltd. Mr Flis has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are 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' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

The information in this report that relates to Exploration Targets is based on information compiled by Mr Marcus Flis who is a Fellow of the Australian Institute of Geoscientists. Mr Flis is an independent Principal Consultant at Rountree Pty Ltd. Mr Flis has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are 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' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

The information in this report that relates to the Perenjori Western Limb and Eastern Limb Mineral Resource is based on information compiled by Dr Bielin Shi who at the time of reporting was a Fellow of the Australian Institute of Geoscientists and a full time employee for CSA Global Pty Ltd. Dr Shi has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

The information in this report that relates to the Pereniori Core Mineral Resource is based on information compiled by Mr Dennis Gee who at the time of reporting was a Fellow of the Australian Institute of Geoscientists and a full time employee for CSA Global Pty Ltd. Mr Gee has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

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 the Victory Bore Project Vanadium & Aluminium mineral resource estimations is based on work completed by Mr. Stephen Hyland, a Competent Person and Fellow of the AuslMM. 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 is also a Qualified Person under the rules and requirements of the Canadian Reporting Instrument NI43-101. Mr Hyland consents to the inclusion in this report of the information in the form and context in which it appears.

The information in this report that relates to the Unaly Hill Mineral Resource is based on information compiled by Mr. Vladislav Trashliev who at the time of reporting was a member of The Australasian Institute of Mining and Metallurgy. Mr. Trashliev was employed by Gemcom Pty Ltd, an independent consulting company. Mr. Trashliev has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

In relation to the Mineral Resource Estimate, the potential quantity and grade of the Exploration target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource over the entire area of the Exploration Target, and it is uncertain if further exploration will result in the estimation of an increased Mineral Resource.

The Company confirms that it is not aware of any new information that materially affects the prior exploration results and mineral result estimates included in this presentation, and that all material assumptions continue to apply.

DEVELOPING ONE OF AUSTRALIA'S LARGEST CRITICAL MINERAL DEPOSITS

SUREFIRE RESOURCES

• INTRODUCTION
• THE VANADIUM MARKET
• THE OFFSHORE PROCESSING OPTION
• WHY SAUDI ARABIA
• DEVELOPMENT APPROACH
  • CONCLUSION

EXPERIENCED BOARD & MANAGEMENT

Paul Burton MANAGING DIRECTOR

Mr Burton is an experienced corporate resource executive and geologist and mineral economist with over 30 years of industry experience, exploration, feasibility studies and business development. Paul has a B.Sc in Geology from Plymouth, UK, a M.Sc from McGill University, Canada, and is a Graduate of the Australian Institute of Directors, and member of the Institute of Directors, London.

Vladimir (Roger) Nikolaenko EXECUTIVE CHAIRMAN

Mr Nikolaenko has over 40 years of commercial experience in the resources industry exploration, project evaluation, development and operations, predominantly focused in the base metals. gold and diamond sectors. He has a depth of management and corporate expertise in the operation of public companies in resources and a variety of sectors.

Michael Povey NON-EXECUTIVE DIRECTOR

Mr Povey is a mining engineer with over 40 years of worldwide experience in the resource sector. This experience has encompassed a wide range of commodities in senior management positions. He has a depth of experience in general and mine management, mine production, project evaluation, mine feasibility studies and commercial contract negotiations.

Roger Smith NON-EXECUTIVE DIRECTOR

Mr Smith is an experienced Director and has served on numerous boards of listed companies as both a Non-Executive Chairman and Non-Executive Director as well as having held several proprietary company directorships. Mr Smith has a successful career in the operation of businesses, property development and other sectors.

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CAPITALSTRUCTURE
Fullypaidordinaryshares	1,654,934,906
Unlistedpartlypaidshares(SubjecttoCalls$0.027)	188,785,323
Unlistedpartlypaidshares(SubjecttoCalls$0.0059)	70,000,000
Shareprice	$0.015
MarketCapitalisation	$25M
BoardandManagement	17%

SUREFIRE RESOURCES SUMMARY

SUREFIRE HAS 3 HIGH VALUE SIGNIFICANT PROJECTS WITH COMMODITIES IN DEMAND AND IN FOCUS

VICTORY BORE VANADIUM PROJECT

321Mt1 @ >0.4% V2Oc (concentrate grade of 1.43% V2Oc) 37Mt @ 23% Al, O, Exploration Target of 682 Mt to 1,190 Mt @ 0.2% to 0.43% V205 The potential quantity and grade of the Exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource over the entire area of the Exploration Target, and it is uncertain if further exploration will result in the estimation of an increased Mineral Resource

YIDBY GOLD PROJECT

New Gold discovery in Gold District 400km from Perth Bonanza grades up to 39 gpt at shallow depth over 3km gold strike2

PERENJORI HIGH PURITY MAGNETITE PROJECT

191Mt @ 37% Fe, O, 3 After grinding premium 69% Fe2O4 Exploration Target 870Mt to 1,240Mt@ 22% to 42% Fe3O44 The potential quantity and grade of the Exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource over the entire area of the Exploration Target, and it is uncertain if further exploration will result in the estimation of an increased Mineral Resource

1. Complies with JORC(2012), ASX release 1 February 2023 2. ASX announcement 14 November 2023

2. Complies with JORC (2004), ASX release 26 February 2021 4. ASX release 3 February 2022

WORLDCLASS

MINERAL RESOURCES

JORC RESOURCES

VANADIUM	TONNES AND GRADE
Victory Bore Measured	16.8 Mt @ 0.42% $V_2O_5$
Victory Bore Indicated	70.3 Mt @ 0.40% V 2 O 5
Victory Bore Inferred	147.7 Mt @ 0.38% V 2 O 5
Total	234.8 Mt @ 0.39% V 2 O 5
Unaly Hill Inferred	86.2 Mt @ 0.42% V 2 O 5
Project Total: 1	321.0 Mt @ 0.39% V 2 O 5
EXPLORATION TARGET ESTIMATE (ETE)
Lower Limit ETE682 Mt @ 0.2% V O	Upper Limit ETE1.190 Mt @ 0.43% V O

The potential quantity and grade of the Exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource over the entire area of the Exploration Target, and it is uncertain if further exploration will result in the estimation of an increased Mineral Resource

ALUMINIUM OXIDE	TONNES
Measured	5.2 Mt @ 23.1% Al 2 O 3
Indicated	11.8 Mt @ 23.1% Al 2 O 3
Inferred	20.7 Mt @ 23.5% Al 2 O 3
Total	37.7 Mt @ 23.3% Al, O 3

1 The total numbers may include rounding. The Victory Bore resource is based on a 0.26% V2O5 cut-off grade. Resource estimation by external consultants HGMC using ordinary kriging)

VICTORY BORE

MAIN RESOURCE COMPRISES TWO THICK LODES OF VANADIFEROUS MAGNETITE ~50M WIDTH, OPEN AT DEPTH $>$ 160M AND STRIKE OF $>$ 10KM

Secondary resource comprises one thick lode of high grade aluminium oxide, 50m wide, open at depth. Testwork has shown this Al2O2 product can be a high grade feedstock for HPA

* For the Vanadium results refer to ASX release 15 December 2022

. For the Aluminium results refer to ASX release 8 lune 2023

FOCUS IS VANADIUM BATTERY STORAGE IT'S HAPPENING!

SUBSTANTIAL VRB STORAGE BATTERY MARKET FORECAST

THE MARKET FOR VANADIUM FLOW BATTERIES IS EXPECTED TO BE $50-$100 BILLION BY 2025

• · Higher energy density
• · Long life: over 20 years
• · Over 20,000 recharge cycles with no degradation
• . No damage if under or overcharged
• · Not combustible
• · 100% discharge capability
• · Ideal for large scale applications
• · Cheaper than lithium based batteries

HIGH PURITY ALUMINA-HPA

• $\cdot$ 4N (99.99%) Al203 PRODUCED FROM VICTORY BORF MATERIAL
• · FURTHER TEST WORK UNDERWAY
• . HPA CURRENTLY SELLS FOR > $20,000 USD / TONNE

THE PREDICTED NEW MARKETS FOR HPA ARE SIGNIFICANT AND INCLUDE:1

• LED REPLACEMENT I IGHTING
• · CO2 EMISSION SEPARATORS
• · SEMI-CONDUCTORS
• · LITHIUM ION BATTERY CELLS

Global total demand for HPA in 2022 was between 60,000 tpa and 80,000 tpa

Annual demand growth is between 13.5% and >20%

Eg: IEA and G20 are moving to completely remove fluorescent lighting from the markets by 2025

1 Source Lava Blue

THE DEVELOPMENT PLAN

ON SHORE MAGNETITE PRODUCTION. CONCENTRATE SHIPPED FOR DOWNSTREAM PROCESSING. OFF SHORE PROCESSING IN SAUDI ARABIA.

• Memorandum of Understanding (MOU) with the Kingdom of Saudi Arabia.
• · A low capital cost operation in Australia, with value-add downstream processing and production of high value products in a low energy cost jurisdiction.
• . The KSA is a significant user of vanadium products, particularly in its steel sector where demand is estimated at 10 - 12 ktpa and growing at 4 - 5% Year on Year.
• · High Purity Alumina (HPA) feedstock from Victory Bore could also be processed in KSA where demand is increasing or for export to Europe.

PROPOSED PATHWAY FOR VICTORY BORE PROJECT DEVELOPMENT

MINING Victory Bore Vanadium Magnetite mined by open cut method

BENEFICIATION Magnetite production from Victory Bore deposit

by low cost beneficiation.

MAIN PRODUCTS

EXTRACTION Magnetite separated and loaded for transport

TRANSPORT Magnetite Transported and Loaded at Geraldton Port

SHIPPING Shipped to Dammam Port, KSA

PROCESSING
Magnetite processed
to extract and separate
 vanadium and Iron

Vanadium Pentoxide

Ferro Vanadium

Vanadium Electrolyte

High Purity Alumina

BI-PRODUCTS

Ferro Titanium

NEXT STEPS

• · Completion of pre-feasibility study
• · Progress Saudi processing option
• Completion of $V_2O_5$ extraction direct (HPV) for producing VE
• Progress with VRB strategy
• · Offtake discussions commenced
• · HPA 4n 99.995 confirmed next steps scoping study

INVESTMENT KEY POINTS

• · DEVELOPING ONE OF AUSTRALIA'S LARGEST VANADIUM DEPOSITS

• HIGH GRADE

• HUGE RESOURCE

• BATTERY GRADE VANADIUM AND HPA

• · 100% OWNED

• 400KM FROM PORT

• GOOD EXISTING INFRASTRUCTURE INCLUDING GAS

• PROJECTS VALUE NOT CURRENTLY REFLECTED IN SHARE PRICE

WAS ATH IN

ANKAIL

PAUL BURTON MANAGING DIRECTOR

Surefire Resources NL

Suite 10, 100 Mill Point Road, South Perth WA 6151

info@surefireresources.com.au www.surefireresources.com.au