TALGA GROUP LTD — Investor Presentation 2014

Aug 5, 2014

6 AUGUST, 2014

ASX: TLG

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Talga Resources Ltd ABN 32 138 405 419

1st Floor, 2 Richardson St, West Perth, WA 6005

T: +61 8 9481 6667

UPDATED INVESTOR PRESENTATION

Talga Resources Limited ( ASX:TLG ) (“ Talga ” or “ the Company ”) is pleased to provide an updated presentation.

The presentation summarises and updates Talga’s corporate structure and information specific to the Company’s wholly owned Nunasvaara graphene deposit in Sweden. The presentation will be made available on the Company’s website www.talgaresources.com.

F: +61 8 9322 1935

www.talgaresources.com

For further information, contact:

Mark Thompson Managing Director Talga Resources Ltd

Corporate Information ASX Code TLG

Shares on issue 124.6m Options (listed) 7.75m Options (unlisted) 6.25m

Tel +61 (08) 9481 6667 Email admin@talgaresources.com

Company Directors Keith Coughlan Non-Executive Chairman

Mark Thompson Managing Director

Grant Mooney Non-Executive Director

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ASX Code:

TLG

TALGA RESOURCES LTD ASX AND MEDIA RELEASE

PAGE 1

R E S O U R C E S

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Talga Resources Ltd
Investor Presentation
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Diggers & Dealers August 2014

Cover; Nunasvaara graphite core sample and graphene schematic.

Forward Looking Statements and Disclaimer:

This presentation has been prepared by Talga Resources Limited (ACN 138 405 419) (“Issuer”) for the sole purpose of providing an overview of its current prospects and proposed exploration and development strategy to recipients (“Recipient”). This presentation and its contents are provided to the Recipient in confidence and may not be reproduced or disclosed in whole or in part to any other person, without the written consent of the Issuer.

The presentation is based on information available to the Issuer as at the date of the presentation. The information contained in this presentation has not been verified by the Issuer nor has the Issuer conducted any due diligence in relation to that information. The presentation contains selected information and does not purport to be all inclusive or to contain all information that may be relevant to the Recipient. The Recipient acknowledges that circumstances may change and this presentation may become outdated as a result. The Issuer accepts no obligation to update or correct this presentation.

This document includes forward-looking statements. 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 the Issuer believes that the 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.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of the Issuer, its directors, employees or agents, advisers, nor any other person accepts any liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence on the part of the Issuer or its directors, employees or agents. Nothing in this Presentation is a promise or representation as to the future. Statements or assumptions in this presentation as to future matters may prove to be incorrect and differences may be material. The Issuer does not make any representation or warranty as to the accuracy of such statements or assumptions.

The information in this presentation does not take into account the investment objectives, financial situation and particular needs of any Recipient. The Recipient should not make an investment decision on the basis of this presentation alone and the Recipient should conduct its own independent investigation and assessment of the content of this presentation. Nothing in this presentation constitute financial product, investment, legal, tax or other advice. Nothing in this presentation should be construed as a solicitation to buy or sell any security or to engage or refrain from engaging in any dealing in any security.

Photographs, maps, charts, diagrams and schematic drawings appearing in this presentation are owned by and have been prepared by or commissioned by the Issuer, unless otherwise stated. Maps and diagrams used in the presentation are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available at the date of this presentation. By accepting this presentation the Recipient agrees to be bound by the foregoing statements.

2

~~TALGA~~ R E S O U R C E S

Executive Summary

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• ‣[Talga Resources Ltd (“Talga”) ASX:TLG is developing the ] [world’s highest grade graphite mineral ] resource[1 ] Sweden . , located in the Kiruna mining district of

• ‣[In recent tests Talga has demonstrated a ] [world-first ability][ to produce ] [high quality graphene][ direct ] from its raw (uncrushed/unpurified) graphite ore which provides Talga with unique economic advantages compared to global graphene peers. [cost][ and ] [abundant][ supply potential is a paradigm shift in the production outlook for ]

• ‣[This new ] [low] bulk graphene, a high-value ‘wonder’ material with huge growth potential.

• ‣[Talga has defined 7.6 million tonnes source ore to date and is ramping up its low-cost development to ] focus on becoming a global graphite and graphene supplier with industry leading margins.

• ‣[The Company is transitioning to a sole graphite/graphene focus by divesting non-core assets ] including iron ore projects in Sweden and gold projects in Australia.

• ‣[Near term potential value catalysts include new upscaling of metallurgical process with ] and dual

• ,

• breakthrough graphene option commercial/sales agreements scoping study utilising .

• graphite/graphene production

• 1 See appendices for details of JORC (2004) resources and www.techmetalsresearch.com for world graphite resources grade comparison.

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~~TALGA~~ R E S O U R C E S

Talga Resources Corporate Overview

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Board of Directors Keith Coughlan Non-executive Chairman Mark Thompson Managing Director Grant Mooney Non-executive Director

Share Price last 12 months ASX:TLG

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Capitalisation Summary at 30 June 2014
ASX:TLG Ordinary Shares 124.6M
ASX:TLGO Options (exp 30 Nov 2015 at 35c) 7.75M
Unlisted Options [1] 6.25M
Cash $AUD $4.3M
Market Capitalisation (undiluted, @ $0.38) $47.3M
Top Shareholders (+3%) at 30 June 2014
Lateral Minerals Pty Ltd (Mark Thompson) 11.4%
Gregorach Pty Ltd 6.2%
Two Tops Pty Ltd 3.8%
Yandal Investments Pty Ltd 3.1%
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1 2.75m @ 40c director options expiry 30 Nov 2014, 0.5m @ 35c employee options expiry 21 Jul 2015, 0.5m @ 45c employee options expiry 3 Oct 2016, 2.5m @ 54c director options expiry 23 June 2019.

4

Talga’s Graphite Projects

• ‣ 100% ownership of five graphite projects with multiple deposits offering the full range of market size .

• specifications

• ‣ Two advanced stage projects in the development . These are drilled to JORC Indicated status

• pipeline and preliminary economic studies are underway; • Nunasvaara is a microcrystalline flake deposit with

• the highest JORC/NI43-101 resource grade in the world[1] . It is located within the Vittangi project.

• • Raitajärvi is a coarse flake deposit with 49% of flake classified large to jumbo size.

• ‣ At an earlier stage of drilling but exceptionally well located and containing >80% XL-size (jumbo) flake graphite is the Piteå project.

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1 See appendices for details of JORC (2004) resources and www.techmetalsresearch.com for world graphite resources grade comparison.

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• Established mining district with extensive milling and transport infrastructure

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To Narvik
Magnetite
Concentrator
Magnetite
Concentrator
Kiruna magnetite mine and mill owned
by LKAB. Photo©Fredric Alm/LKAB
Magnetite
Concentrator
Magnetite
Concentrator
Svappavaara magnetite mine and mill
owned by LKAB. Photo©Fredric Alm/LKAB
To Luleå
Proposed Railway
Extension
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Magnetite
Concentrator
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Kaunisvaara magnetite mine and mill owned by Northlands AB. Photo©Northlands AB

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• Advantages of Sweden for Mining

• ‣ Ranked No.1 mining jurisdiction in world by Fraser Institute 2013-14 ‣ Corporate tax rate 22% , Mineral Production tax 0.2% ‣ Established bulk commodity infrastructure with open access rail, road and ports ‣ Low cost power from hydroelectricity and nuclear grid

• ‣ Well established mining province with highly skilled workforce and support industries -

• ‣ Hosts world class mineral deposits but remains under-explored relative to peers as foreign mineral ownership only allowed since 1992

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The ‘Aitik’ Cu-Au mine, northern Sweden. Owner; Boliden. Milling 36Mt annum ore.
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Logistics Advantages

• ‣ Talga’s projects located proximal to high quality sealed roads to

• and open-access heavy haulage railway with direct link Europe markets . No shipping required.

• ‣ cost Major advantage on delivery compared to shipments from other jurisdictions.

• ‣ EU consumes 20% of world’s natural graphite production, and imports 95% of its needs (vast majority from China).

• ‣ EU has classified graphite as a “critical raw material”.

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Öresund Bridge road/rail tunnel linking Sweden to mainland Europe
Photo Mark Thompson/Talga Oct 2012
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Road through Nunasvaara project
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• Vittangi Project - Nunasvaara Graphite

• ‣ World’s highest grade JORC/NI43-101 resource[1] of (ASX:TLG 8 Nov 2012) 7.6Mt @ 24.4% graphite (“Cg”) (see appendix).

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• ‣ Resource mineralisation from surface to 165m depth and remains 20m over 1.2km strike and remains

• open . Average true width open along strike . Mapped unit >15km in TLG 100% control.

• ‣ Graphite unit hosted within atypically low metamorphic grade volcanic greenstones with potentially unique mineralogy. Robust outcropping high grade resource makes low-cost potential in both ultrafine to fine graphite and bulk graphene market.

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Section 1800N
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Nunasvaara Mineral Resource[1] (10% Cg lower cut-off grade)

JORC 2004 Tonnes Grade Contained Classification (Mt) (%Cg) Graphite (tonnes) Indicated 5.6 24.6 1,377,600 Inferred 2.0 24.0 480,000 Total 7.6 24.4 1,857,600

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Growth potential and logistics advantages

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~~TALGA~~ R E S O U R C E S

• ‣ Graphite unit outcrops in part and is mapped over at least 15km strike . 100% controlled by TLG.

• ‣ Sampling by Talga of the outcropping unit averaged 26% Cg .

• with grades up to 47% Cg

• ‣ Less than 8% of graphite unit drill tested to date.

‣ Development advantages of exceptional grade , open-pit bulk mining option, low-cost grid and power nearby road/rail/port options (3km to road, 25km to rail).

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Kiruna Iron Mine
Svappavaara Iron Mine
NUNASVAARA
RESOURCE
Graphite Unit open
15km strike
Railhead
Sealed
Highway
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Other Graphite Projects - Raitajärvi

• ‣ Indicated and Inferred 4.3 Million tonnes @ 7.1% Cg, JORC 2004 resource[1 ] open at depth and along strike.

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RAITAJÄRVI
RESOURCE
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EM anomaly/Graphite Unit
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• ‣ Near-surface deposit contains 87% coarse crystalline flake graphite with previous metallurgical work demonstrating up to 99.0%C purity concentrate.

• ‣ Significant portion ‘large’ and ‘jumbo’ size flake graphite in favor for production of lithium-ion battery electrodes.

• ‣ located 2km from the Överkalix - Advantageously Övertorneå and 25km to town Highway grid power ,

• and railway.

• ‣ Capable of being 10-20,000t/annum output as second producer for Talga but excellent potential for size increase as remains open in all directions and less than 25% of the deposit’s electromagnetic signature drill tested to date.

Raitajärvi Mineral Resource[1] (5% Cg lower cut-off)

JORC 2004 Tonnes Grade Classification (Mt) (%Cg) Indicated 3.4 7.3 Inferred 0.9 6.4 Total 4.3 7.1 Raitajärvi graphite flake size < 100µm 100-200µm 200-400µm >400µm 13% 38% 38% 11%

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Piteå Project

• ‣ Coarse flake graphite within a 4 x 1km EM anomaly intercepted to date by 3 historic drillholes.

• ‣ Very large average flake size; >80% reported as ‘jumbo’ 300 µm (+50 mesh).

• ‣ Such large flake graphite is premium product for spherical graphite production and commands .

• higher prices

• ‣ Located on sealed road 50km from port of Piteå and adjacent to grid power.

• ‣ Adjacent EM anomalies pegged. Fieldwork to expand target zone and confirm drill targets after grant in 2015 for stage 2 drill testing .

Piteå average graphite flake size

< 100µm 100-300µm 300-600µm >600µm 0% 45% 64% 18%

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Luleå Town
and Port
Piteå Town
and Port
50km to port/rail
Sealed Highway
Grid Power
Railway
Railway
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Coarse flake graphite present in historic drill core from the Piteå
project stored at the SGU. Hole ÖNU89001, 44.2m depth.
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What is Natural Graphite?

• ‣ Graphite is a crystalline form of carbon that forms in nature when carbon-rich rocks undergo metamorphism (pressure/ temperature induced change). It can be synthesised but at very high cost.

• ‣ Graphite (the mineral) consists of parallel sheets of carbon atoms in a hexagonal lattice, which when one or few atoms in thickness, are called . graphene

• ‣ Graphite has remarkable properties of electrical and thermal conductivity that make it useful for a large range of applications.

• ‣ Natural graphite demand is about 1.1Mt/yr , a volume similar to Nickel, with total value approximately US$1B/yr.

• ‣ Graphite is most commonly sold as a concentrate by private contract. Industry prices are surveyed and published by Industrial Minerals magazine.

• ‣ Consumption is diverse with significant markets in steel production and refractories (>50%), automotive parts, lubricants and batteries.

• ‣ China and Brazil supply >80% world natural graphite.

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Video of carbon atoms crystallising to graphite
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Graphite outcrop at Talga’s Nunasvaara project in Sweden.
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Graphite prices exceeding historic and forecast trends.
4
First
Column
X
X
X
Graphite prices now steady, with flake 50% higher and Prices have exceeded forecasts since end of 2012 and
.
base case are to
amorphous 100% higher than long term averages
prices trending surprise on upside
appendix for further price/market data.
ACTUAL MAY 2014
12 13 13 13 14
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Prices have exceeded forecasts since end of 2012 and base case prices are trending to surprise on upside . See appendix for further price/market data.

14

Graphite Drivers

• ‣ China has maturing operations with rapidly declining production profiles but rising costs . Additional consolidation and crackdown on

• government environmental pollution has shut significant amount of graphite production. Graphite declared critical strategic mineral in UK, EU and USA.

• ‣ Graphite is a significant component of many types of 10x more

• battery , particularly Li-ion which contain graphite than lithium in battery anode. Electric vehicles vehicle in batteries.

• can use up to 100kg graphite per

• ‣ Rapid growth taking place in EV’s causing shortages. Tesla recently announced plans for a US$5B Li-ion battery ‘ gigafactory ’ that alone will require the graphite equivalent to 6 new mines. Other manufacturers may compound shortage.

• ‣ Outlook is for decreasing supply while new applications create new markets; with pivotal roles in energy

• , and .

• transport storage performance

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Closed graphite mines in China
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Graphene; What is it & the buzz out of Manchester

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Video : Courtesy The University of Manchester

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Graphene Market

Commercialisation is here

Global consumption of potential graphene additive materials

• ‣ While the media is excited by future ‘hi-tech’ applications, and graphene-enhanced products are becoming available (tennis racquets, riding helmets) the main driver of near term graphene additives .

• commoditisation may well be

• ‣ Small amounts of graphene platelets ( 0.05-2% ) added to common bulk materials[2] can impart exponential increases in strength e.g. cement (global consumption 3,300Mt/ann), and aluminium (50Mt) allowing less material/lighter builds. Similar additions of graphene to steel (1,606Mt) can impart anti-corrosion properties and plastics

• (288Mt) can become conductive. Conductive inks and 3-D inks are similarly productive applications.

Plastics 288 Aluminium 50

• ‣ Talga can sell graphene it produces during development phases; metallurgical to pilot plant, from procesing drillcores. First sale of graphene completed July 2014 to German group Microdrop Technologies.

17

• Graphene has a Supply Side Problem Pace of graphene uptake & commercialisation is hampered by current limitations of production scale and cost more than quality.

Main factors delaying uptake of graphene platelets into ordinary products include:

‣[Lack of ] [scale][: most production methods are not ] scalable to the large quantities required to guarantee supply and expand uptake ‣[High ] [costs][: platelets are still vastly ] [expensive] compared to most material inputs. ‣[Quality: most lower cost scalable production ] methods have reduced quality that limit applications/markets.

• [constraints][ as they ]

• ‣ [Scale][ and ] [Cost][ are ] [main] can

• have most physical limitations but Quality be manipulated to a degree.

18

• The Graphite Ore Problem Graphite ore-to-graphene requires multi-stage expensive processes ‣ The problem with scalable natural graphite sources though is they require multiple stages of crushing, milling and flotation to form a concentrate for further stages of purification commonly involving oxidation and reduction, sonication, electrode forming etc to reach graphene stage. The multiple increase costs and can decrease

• stages quality of the graphene.

• ‣ Other simple processes have either such low yields (eg, ‘Blender’ method) or source material not commercial or

• require high purity (expensive) they are cannot lower cost generate significantly of graphene supply.

• ‣ As graphite ores already contain ‘natural graphene’ an ultra-low cost path considering energy and commerciality is a single stage process where raw graphite ore can be processed to graphene without multiple steps.

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Paradigm Shift to Lower Cost

• ‣ Because of the unique characteristics of Nunasvaara ore deposit , both graphite and graphene platelets can be liberated from the ore in a single step process. This means no expensive multiple stage processing or purification stages that impart complexity and costs.

• ‣ The graphene is a byproduct of the graphite processing, so very low cost.

• ‣ This shows strong potential for Talga to enjoy a vastly different production and capital cost structure compared to other producers globally, and represents a bulk .

• paradigm shift in the production outlook for graphene cost and scale

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R E S O U R C E S
RAW
GRAPHITE
ORE
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PROCESS
1 STEP
GRAPHENE
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Current resource Raw Ore
7.6 million tonnes is 24.4% graphite
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bulk graphene platelets
graphite
graphite
concentrator
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10-20% graphite vol

1-Step Process 80-90% graphite vol

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• Quality and Consistency ‣ The highly homogenous nature of the raw ore source provides a consistency in the morphology and quality of graphene produced.

• ‣ Some characters of size and quality can be modified and optimised to a degree in the production process.

~~TALGA~~ R E S O U R C E S

• ‣ Measurements demonstrate a few layered graphene (range 1-5 layers) of low D/G and D/ 2D ratio; a high quality result for such low cost and bulk scale production from raw ore. High potential for further optimisation and additional functionalisation.

Raman spectra of initial TLG graphene measured by Uni of Adelaide.

Atomic force microsscopy image of initial Nunasvaara graphene platelet size, distribution and morphology.

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~~TALGA~~ R E S O U R C E S

It’s the Ore

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To enable the lowest cost production pathway multiple naturally unique physio-chemical factors are required.

1-step process

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Grade

Mineralogy Structure

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Strength
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Natural graphite ore enabled for lowest cost single-stage processing.

Very high grade ore eg,>16%Cg which is rare in global resources.

Massive and homogenous crystalline nature.

High compressive strength but low hardness.

• Nunasvaara - summary 12 month development plan

• ‣ tests are Process pathway has been demonstrated at benchtop scale and upscaling underway to design a 5 tonne/hr pilot plant to be operational in north Sweden Jul-Sep 2015 . The pilot plant will be designed to supply 100-200 tonnes graphene samples over few year test period. A scoping study underway will include potential for production scenarios 10x this level.

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Q2 Q3 Q4 Q1 2015
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Phase 2 metallurgy
Expand Development Team
Catalyst
Phase 2 metallurgy results optimising/ongoing
Bulk Sample Permit Commences Enviro/Social Surveys Ongoing
Commercial samples/agreements Samples from Metwork Phases/Ongoing
Catalyst
Completion Scoping Study Using inputs from metwork, engineering and commercial
Exploitation Permitting Commence Enviro/Social Surveys Ongoing
Metallurgical/Geotechnical drilling PQ core program
Catalyst
Exploration growth target drilling Selected high grade zones along strike Nunasvaara
Catalyst
Phase 3 metallurgical tests Large core samples/graphene samples 2
Engineering update/PFS prep pilot plant design and optimisation/construct
Bulk Sample Permit Approvals Permitting for mining bulk sample/PFS pilot plant in Q3
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~~TALGA~~ R E S O U R C E S

Summary

• ‣[In recent tests Talga has demonstrated ] [ability][ to produce ] [high ] direct from its raw

• quality graphene (uncrushed/unpurified) graphite ore which provides Talga with unique economic advantages compared to global graphene peers. [cost][ and ] [abundant][ supply potential is a paradigm shift ]

• ‣[This new ] [low] in the production outlook for bulk graphene, and will be able to ‘commoditise’ supply into everyday applications.

• ‣[Talga has defined 7.6 million tonnes source ore to date and is ] -

• low cost

• ramping up its development strategy to focus on becoming a . global graphene supplier with industry leading margins

• ‣[The current development stages underway include ] [upscaling][ the ] metallurgical process and completing a scoping study (Q3 2014), commercial agreement/customer development (ongoing) and permitting a trial mine/pilot plant for operation mid-2015.

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• Talga’s Graphite Development Advantages ‣ Highest grade JORC/NI43-101 graphite resource in world.

• ‣ World-first single step graphite/graphene production option.

• ‣ Low cost capex and bottom of production cost curve expected.

• ‣ Advanced stage PEAS underway; further major drilling not required.

• ‣ Massive growth profile ; dominant land position on drilled EU graphite deposits. -

• ‣ Located on road and rail routes to major markets, in highly ranked low risk mining and corporate jurisdiction, Sweden.

• To get further information or register interest contact: Mark Thompson - Managing Director 1st Floor, 2 Richardson St West Perth WA 6005 Australia Tel +61 89481 6667 email admin@talgaresources.com

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~~TALGA~~ R E S O U R C E S

25

Appendices Talga Asset Structure and JORC (2004) Resources*

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TALGA
R E S O U R C E S
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TALGA RESOURCES LTD

100%

1 Note: This information was prepared and first disclosed under the JORC code 2004. It has not been updated since to comply with the JORC code 2012 on the basis that the information has not materially changed since it was last reported. The Company is not aware of any new information or data that materially affects the information included in the previous announcement and that all of the previous assumptions and technical parameters underpinning the estimates in the previous announcement have not materially changed.

Talga Mining Pty Ltd

100%

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the estimates in the previous announcement have not materially changed.
Swedish Branch
100% 100%
IRON
GRAPHITE
Iron Mineral Resources @ 20% Fe lower cut-off July 2013
Tonnes Grade
Nunasvaara Graphite Mineral Resource @ 10% Cg lower cut-off Nov 2012
Deposit JORC Category
(Mt) %Fe
Tonnes Graphite
Classification
Vathanvaara 51.2 36.0 Inferred Resource
(Mt) (%Cg)
Kuusi Nunasvaara 46.1 28.7 Inferred Resource
Indicated 5.6 24.6
Mänty Vathanvaara 16.3 31.0 Inferred Resource
Inferred 2.0 24.0
Sorvivuoma 5.5 38.3 Inferred Resource
Total 7.6 24.4
Jänkkä 4.5 33.0 Inferred Resource
Raitajärvi Graphite Mineral Resource @ 5% Cg lower cut-off Aug 2013
Masugnsbyn 87.0 28.3 Indicated Resource
Tonnes Graphite
Classification Masugnsbyn 25.0 29.5 Inferred Resource
(Mt) (%Cg)
Total 235.6 30.7
Indicated 3.4 7.3
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Nunasvaara Graphite Mineral Resource @ 10% Cg lower cut-off Nov 2012

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Tonnes Graphite
Classification
(Mt) (%Cg)
Indicated 5.6 24.6
Inferred 2.0 24.0
Total 7.6 24.4
Raitajärvi Graphite Mineral Resource @ 5% Cg lower cut-off Aug 2013
Tonnes Graphite
Classification
(Mt) (%Cg)
Indicated 3.4 7.3
Inferred 0.9 6.4
Total 4.3 7.1
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26

Appendices

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Trade Name microns Mesh Size (US)
<10 na
Amorphous/Ultrafine
Amorphous/Fine 10-75 -200
Small 75-150 200-100
Medium 150-180 100-80
Large 180-300 80-50
XL/Jumbo >300 50+
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Source: Industrial Minerals Natural Graphite Report 2012 cross referencing various sources. Many terms are proprietary or mixed use; there are few if any industry standards in naming principles.

Common natural graphite concentrate product sizes, grades and prices

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Size Size Purity Quote
(microns) US Mesh % C US $/tonne
300+ 50+ 94-97 >1700
94-97 1275
180-300 80-50
90 1125
94-97 1100
150-180 100-80 90 950
85-87 750
94-97 900
75-150 200-100
90 775
-75 -200 80-85 525
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Source: Industrial Minerals Magazine Mar 2014. Most prices FCL, CIF European Port.

Note prices averaged from low-high range and selected as common commercial products where natural graphite sold as concentrate. Many specialty grades with much higher prices are traded but do not represent the bulk of market demand.

27

References & Qualified Persons

1 Resource Note: All Talga owned resources referred to in this report are based on information prepared and first disclosed under the JORC code 2004. They have not been updated since to comply with the JORC code 2012 on the basis that the information has not materially changed since it was last reported. The Company is not aware of any new information or data that materially affects the information included in the previous announcement and that all of the previous assumptions and technical parameters underpinning the estimates in the previous announcement have not materially changed. 2 Research references

Graphene in concrete “Materials Genome for Graphene-Cement Nanocomposites for Infrastructure Applications”; Hunain Alkhateb et al Department of - - - Civil Engineering, University of Mississippi USA plus see http://www.monash.edu.au/assets/pdf/industry/graphene oxide reinforced concrete.pdf Graphene in aluminium “Reinforcement with graphene nanosheets in aluminum matrix composites”. Wang, J et al (2012). Scripta Materialia, 66 (8). - Graphene in plastics “Graphene Nanoplatelets: A Multi functional Nanomaterial Additive for Polymers and Composites” (2013) Lawrence T. Drzal, Chief Scientist XG Sciences, Inc. Professor, Chem Engin and Materials Science Michigan State University

Graphene on iron/steel “Hybrid nanocomposite coatings for corrosion protection of low carbon steel: A substrate-integrated and scalable active–passive - - - - - - with to approach,” (2011) G.K. Rout et al, J. Mater. Res., 26, 837–44 and see http://www.steeltimesint.com/news/view/tata partners epsrc develop - - coated steels. graphene

Competent Person’s Statement

The information in this report that relates to Exploration Results is based on information compiled and reviewed by Mr Mark Thompson, who is a member of the Australian Institute of Geoscientists. Mr Thompson, an employee of the Company, has sufficient experience which is relevant to the activity which is being undertaken 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” (“JORC Code”). Mr Thompson consents to the inclusion in the 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 Resource Estimation is based on information compiled and reviewed by Mr Simon Coxhell of CoxsRocks Pty Ltd. Mr Coxhell is a consultant to the Company and a member of the Australian Institute of Mining and Metallurgy. Mr Coxhell has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this document 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” (“JORC Code”). Mr Coxhell consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

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