TALONX RESOURCES LIMITED — AGM Information 2016

Nov 29, 2016

ASX Code: MTB

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30 November 2016

AGM PRESENTATION AND PROGRAM UPDATE

Mount Burgess Mining N.L (The Company; ASX:MTB) will hold its 2016 Annual General Meeting on 30 November 2016 in the Company’s offices – Perth.

Following the formal business of the AGM, which includes the Chairman’s Statement (Attachment 1) Mount Burgess Director, Jason Stirbinskis will give a presentation (Attachment 2). Key topics to be discussed will include –

• Company’s re-launch in 2016 included strengthening the Board, raising funds from existing and new investors and immediately commissioning drilling at the Kihabe Zinc, Lead, Silver Project.

• RC drilling at the Project completed Nov 2016. Visual logs from drilling at three of the four zinc anomalies intercepted the Quartz Wacke / Dolostone boundary where the SedEx Zn/Pb/Ag mineralisation is found at the Company’s near-by Kihabe and Nxuu deposits.

• Due to lab delays, first tranche of assay results expected December with the larger and final tranche expected in the New Year.

• With Zinc trading at 9 year highs, assay results pending and a re-energised Board and Company, Mount Burgess is well positioned to advance the Kihabe Project in 2017.

Forward Looking Statement:

This presentation contains forward looking statements in respect of the projects being reported on by the Company. Forward looking statements are based on beliefs, opinions, assessments and estimates based on facts and information available to management and/or professional consultants at the time they are formed or made and are, in the opinion of management and/or consultants, applied as reasonably and responsibly as possible as at the time that they are applied.

Any statements in respect of Ore Reserves, Mineral Resources and zones of mineralisation may also be deemed to be forward looking statements in that they contain estimates that the Company believes have been based on reasonable assumptions with respect to the mineralisation that has been found thus far. Exploration targets are conceptual in nature and are formed from projection of the known resource dimensions along strike. The quantity and grade of an exploration target is insufficient to define a Mineral Resource. Forward looking statements are not statements of historical fact, they are based on reasonable projections and calculations, the ultimate results or outcomes of which may differ materially from those described or incorporated in the forward looking statements. Such differences or changes in circumstances to those described or incorporated in the forward looking statements may arise as a consequence of the variety of risks, uncertainties and other factors relative to the exploration and mining industry and the particular properties in which the Company has an interest.

Such risks, uncertainties and other factors could include but would not necessarily be limited to fluctuations in metals and minerals prices, fluctuations in rates of exchange, changes in government policy and political instability in the countries in which the Company operates.

ATTACHMENT 1

ADDRESS BY THE CHAIRMAN

It is my pleasure to present to you our Annual Report for the year to 30 June 2016.

It is my further pleasure to welcome those recently appointed to the Board, Mr Jason Stirbinskis, MBA, B.Sc, Grad Dip Ed, Aus IMM,a geologist and Mr Harry Warries, MS Mine Eng. F Aus IMM, a mining engineer.

From May 2013 to November 2015, the Company was engaged in litigation in an effort to regain title to its Kihabe Zinc, Lead, Silver project in Western Ngamiland, Botswana. Having been through the High Court and the Appeal Court, it was granted the right in July 2015 to take the matter back to the High Court.

As announced on 10 November 2015, through assistance from the Chamber of Mines, Botswana, The Ministry for Minerals Energy and Water Resources, Botswana confirmed that it was ready to engage with the Company in applying for a new Prospecting Licence over the Kihabe Project. An Application for a new Prospecting Licence was submitted on 2 December 2015, resulting in the granting of a new Prospecting Licence PL 43/2016 on 26 January 2016.

With the reinstatement of its title, the Company now intends to move forward with the development of the project. In order to achieve this, the Company has engaged at Board level the required technically qualified personnel. Mr Jason Stirbinskis, a geologist, Mr Chris Campbell-Hicks, a metallurgist and Mr Harry Warries, a mining engineer, will all be necessary in their particular fields of expertise, in moving the project forward.

The Company is one of a few ASX listed companies with exposure to zinc. With the encouraging rise in the zinc and lead prices seen in the last few months and signs of a positive shift in market sentiment, I believe the Company is strategically placed to move the Kihabe Project forward.

Since the end of the financial year, the Company has raised sufficient funds to drill test five previously untested geochemical soil anomalies in this SEDEX system of mineralisation. Four of these are zinc anomalies and one is a copper anomaly. Results from this drilling programme will be released to the market once received from the laboratory.

In regard to the capital raisings conducted during the financial year and since the end of the financial year, I extend my sincere thanks to those participating shareholders for their support. I also wish to thank the Directors and their associates for necessary loan funding provided during the year in review, as well as continuing to work for no pay.

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Kihabe Zinc,Lead,Silver Project

Botswana 2016 AGM Presentation 30/11/16

ASX: MTB

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Rail Head ~330km
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Disclaimer : Forward Looking Statement

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This presentation contains forward looking statements in respect of the projects being reported on by the Company. Forward looking statements are based on beliefs, opinions, assessments and estimates based on facts and information available to management and/or professional consultants at the time they are formed or made and are, in the opinion of management and/or consultants, applied as reasonably and responsibly as possible as at the time that they are applied.

Any statements in respect of mineral reserves, resources and zones of mineralisation may also be deemed to be forward looking statements in that they contain estimates which the Company believes have been based on reasonable assumptions with respect to mineralisation that has been found. Exploration targets are conceptual in nature and are formed from projection of the known resource dimensions along strike. The quantity and grade of an exploration target is insufficient to define a Mineral Resource. Forward looking statements are not statements of historical fact, they are based on reasonable projections and calculations, the ultimate results or outcomes of which may differ materially from those described or incorporated in the forward looking statements. Such differences or changes in circumstances to those described or incorporated in the forward looking statements may arise as a consequence of the variety of risks, uncertainties and other factors relative to the exploration and mining industry and the particular properties in which the Company has an interest.

Such risks, uncertainties and other factors could include but would not necessarily be limited to fluctuations in metals and minerals prices, fluctuations in rates of exchange, changes in government policy and political instability in the countries in which the Company operates.

Competent Person Statement

The information in the resource statement that relates to the Kihabe Resource is compiled by Byron Dumpleton, B.Sc., a member of the Australasian Institute of Geoscientists. The information that relates to the Nxuu Resource is compiled by Mr Ben Mosigi, M.Sc., (Leicester University – UK), B.Sc., (University of New Brunswick – Canada), Diploma Mining Tech (Haileybury School of Mines – Canada), a member of the Geological Society of South Africa.

Mr Dumpleton is an independent qualified person and Mr Mosigi was a Technical Director of the Company for the period in which the resource was developed. Both Mr Dumpleton and Mr Mosigi have sufficient experience relevant to the style of mineralisation under consideration and to the activity to which they have undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code of Reporting of Mineral Resources and Ore Reserves”. Both Mr Dumpleton and Mr Mosigi consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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.

WELL POSITIONED LEADING INTO 2017

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MTB share price and trading volumes Dec ‘15 to Nov ‘16

• Licence recently granted to 2023

• Board strengthened

• Funding secured – drilling started - near term news flow

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Licence Strategic
Renewed re-launch
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• Timed to positive zinc outlook

• One of only a few ASX Zinc focussed plays

Zinc Price – Final / official cash buyer price at 1pm (UK Time) daily

Recent trading at 9-year highs!

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NOV 2016 DRILLING AT 5 GEOCHEMICAL ANOMALIES

Target 52 : Zn soil anomaly 2km SE of Nxuu Zn deposit. Soil results suggest a possible mineralised strike length of >5km (Double the combined strike lengths of Kihabe and Nxuu deposits Wanchu & Wanchu West : Zn soil anomalies 4km SW and 1.5km S respectively of Kihabe deposit Lebala : A cluster of small zinc soil anomalies 7km NE of Kihabe Copper Anomaly : Cu / Co soil anomaly 14km NE of Kihabe

CURRENT STATUS Drilling completed – 27 RC holes for 1640m

Visual drill logs from 3 of the 4 zinc anomalies logged the intersection of the quartz wacke / dolostone contact (a marker for potential Zn mineralisation)

First tranche of assay results expected Dec ‘16

Second, larger tranche expected in the New Year

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KIHABE – NXUU RESOURCE STATEMENT

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Deposit	External Zn-eq Cut %	Indicated M Tonnes %	Inferred M Tonnes %	Total M Tonnes %
Kihabe	1.5%	11.4 @ 2.90%	3.0 @ 2.60%	14.4 @ 2.84%
Nxuu	0.3%	-	10.9 @ 3.20%	10.9 @ 3.20%
		11.4 @ 2.90%	13.9 @ 3.07%	25.3 @ 3.00%
Kihabe resource calculated on metal prices as at 17 July 2008: Zn US$1,810/t Pb US$1,955/t Ag US$18.75/oz Kihabe Grades: Zn 1.8% Pb 0.8% Ag 7.7 g/t Nxuu resource calculated on zinc and lead at par value metal prices Nxuu Grades: Zn 1.8% Pb 1.4%

The Kihabe and Nxuu Resources cover a combined strike length of 2.3 km containing 25.3 M/t @ 3.0% Zn eq, within a SEDEX mineralised zone of quartz wacke, right at the contact with the regional dolostone.

KIHABE – NXUU METAL RECOVERIES

• Kihabe Oxide

• Kihabe Sulphide

• Nxuu Oxide

• 97% Zn recovered (24hrs via acid leach), potential to produce Zn metal via SX/EW

• 92% Pb recovered to produce exceptionally high grade concentrate of 76% Pb 94% Zn, 88% Pb, 96% Ag recovered (15mins via flotation) to produce Zn con 58% and Pb con 76%

• 93% Zn, 93% Pb, (12hrs via acid leach), potential to produce Zn metal via SX/EW

POTENTIAL TO INCREASE RESOURCE WITHIN EXISTING KIHABE 0.5% ZnEq RESOURCE ENVELOPE

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• Current Resource based on 127 Reverse Circulation (RC) and 36 Diamond Drill (DD) holes

• Twinning of RC holes with Diamond Drilling revealed a positive variation suggesting a material negative bias in RC drilling and/or sampling methods

• Neither considered other metal credits particularly Germanium*

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• Actual grade is potentially materially higher than reported Resource

• Sub–economic blocks may in fact be economic

• Therefore contained metal is potentially larger than reported

Example: Based on a 0.5% ZnEq resource envelope the existing Kihabe Resource generated a grade of 2.22% based on RC+DD holes. Based on DD only (32 holes) the same volume generated a grade of 3.26%*

*The spacing of diamond holes does not permit this result to be converted to a Resource.

	Results from DD	DD % Increase on RC result
Section 9,900mE	KDD105 (-60o inc)
Zone from 127mRL	28m @ 3.24% Zn	101%
Section 10,000mE	KDD108 (-70o inc)
Zone 1 from 60mRL	12m @ 4.36% Zn	Avg 25% 64% (KIH004)
Zone 2 from 102mRL	14m @ 4.18% Zn	139%
Section 10,200mE	KDD110 (Vertical)
Zone from 125mRL	13m @ 4.05% Zn	26%
Section 11,500mE	KDD114 (Vertical)
Zone from 60-98mRL	11m @ 3.54% Zn	50.21%
Zone from 98-141mRL	18m @ 2.89% Zn 14m @ 4.15% Zn	22.46% 75.85%
Section 11,600mE	KDD115 (-60o inc)
Zone from 110mRL	7m @ 2.85% Zn	37.7%
Section 11,800mE	KDD116 (-60o inc)
Zone from 55mRL	24m @ 4.37% Zn	Avg 70.0%
Overall Average Grade of above results	DD Results 3.74% Zn **	59.1% **

** The above increase in zinc grades from diamond drilling results is indicative only, at this stage.

*Germanium $1200/kg (Strategic Metals). 24 samples from Kihabe averaged 7.3g/t

KIHABE – Potential open pit

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Zinc Model

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1200m RL
KALAHARI
SAND
12m below surface OXIDISED
1150m RL
FRESH
60m wide
1100m RL
1050m RL
1000m RL
DOLOMITE QUARTZ WACKE
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• 25% Near surface oxides (Zn as Smithsonite, Baileychlore; Pb as Galena)

• • SedEx style - Mineralisation occurs in quartz wacke at near vertical contact with regional dolomite

• Resource envelope from 10m to 175m below surface (potential open pit depths)

• • Strike length 1.8km

• Indicative SR of 4.5:1 with scope for further improvement after geotechnical drilling

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NXUU – Potential shallow open pit oxides

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• 7km East of Kihabe, also SedEx

• Surface area of 550m x 250m basin shape

• • All oxide (Zn as Smithsonite, Pb as Cerussite)

• • Resource envelope from 10m to 60m below surface

• Indicative SR of 3:1

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ROAD MAP

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With recent funding success and actively exploring, Mount Burgess has emerged from hiatus with a compelling investment case for short term opportunity and long term strategic growth.

Jul – Dec 2016

• Secure funding

• Drilling anomalies

• Drilling results (expected Dec ‘16 – delays at lab)

H1 2017

• Follow up /extension drilling

• Test other anomalies

• Re-visit 2010 scoping study

H2 2017 AND BEYOND

• Technical Studies

• Upgraded Resource

• Further exploration of priority targets

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Geologists at Kihabe Nov ‘16