VANADIUM RESOURCES LIMITED — Investor Presentation 2017

Nov 5, 2017

PILBARA ZINC‐COPPER AND GOLD PROJECTS

Tando Resources – Overview

• Quality Pilbara assets

• Quartz Bore Project “drill ready”

• High grade zinc‐copper intersections in historical drilling

• Clear exploration strategy utilising state of the art geophysics

• Projects located in “hot” exploration areas

  • Market focus on Pilbara gold, especially conglomerate‐hosted

  • Strong interest in base metals projects: Braeside (RTR), Abra (GM1) and VXR.

• Favourable market conditions

• Zinc price at 10yr highs against tightening supply in zinc market, declining global production, falling stockpiles

• World zinc market was in deficit in 2016/ 2017

• Immediate opportunity to secure zinc projects, add value, then transact similar to a number of recent deals

• Experienced Management Team to drive projects forward and add value to company

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Management Team

• Bill Oliver, Managing Director

• Geologist with over 18 years wide ranging exploration experience in a range of commodities and jurisdictions.

• Enviable track record in project identification and evaluation.

• Jeremy King, Non‐Executive Chairman

• Corporate advisor with over 15 years’ experience in domestic and international legal, financial and corporate matters.

• Extensive corporate experience and substantial global network.

• Pat Burke, Non‐Executive Director

• Lawyer with extensive legal, commercial and corporate advisory experience for ASX listed companies.

• Has acted as a director for a number of ASX and AIM listed small to mid‐ cap resources companies over the past 10 years.

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Corporate Overview

• Issued Shares at listing 30.5M

• 24.5M tradeable (6.35M escrowed)

• Enterprise Value at 39c = $7.3M

• Cash of $4.5M

• Active drilling program to commence Nov

• Project neighbours drilling Nov

	Shares	$ raised
Pre‐existing shares	6,750,001	‐
Consideration Shares	1,250,000	‐
IPO Raising @ 20c	22,500,000	$4,500,000
Total	30,500,001	$4,500,000

• Represents ground‐floor value entry point

• Tightly held

• Active newsflow post listing – funds raised being put into the ground

• Drilling contracts & heritage clearance Quartz Bore

• Commencement of drilling Quartz Bore

• Commencement of VTEM survey at Mt Sydney

• Results from Quartz Bore drilling

• Results of airborne survey and target generation at Mt Sydney

• Neighbouring and regional drilling/activity to complement newsflow

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Projects Overview

• Advanced Quartz Bore Project

• Located adjacent to Whim Creek and Salt Creek Deposits.

• High grade zinc‐copper mineralisation in historical drilling over 600m at the Balla Balla Prospect.

• Mineralisation open along strike and at depth, clear exploration strategy utilising state of the art geophysic.

• Highly prospective greenfield’s zinc‐copper projects in “hot” exploration areas.

• Mt Sydney along strike from Rumble Resources’ Braeside Project.

• Mt Vernon along strike from Galena Mining’s Abra Project.

• Potential for conglomerate‐gold mineralisation within the Company’s holdings to be investigated.

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Company Strategy

• Quartz Bore Project

• Implement programs and studies focussed on delineating resources at Balla Balla.

• Generate targets for extensional drilling to increase strike and depth of known mineralisation at all prospects.

• Other Projects

• Rapidly evaluate prospectivity through systematic exploration.

• Leverage of regional activity without risking shareholder equity.

• Corporate

• Aggressively target and assess new opportunities.

• Build the portfolio through value accretive transaction.

• Maintain high equity interests.

• Create and capture value within existing and new projects.

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Supportive Commodity Thematic ‐ Zinc

LME Zn cash price – 5yr

• Market fundamentals remain strong and continue to improve

• Spot price at 10 year peak

• Best performer on LME in 2016

• Declining stockpiles, currently at 12yr lows

LME closing stocks ‐ 2017

• Deficit in 2016‐2017, forecast to continue for next 2 years

• Upside from battery usage?

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Zinc Demand Profile Supports M&A

Example: last zinc price cycle

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Focussed on the Right Region

• All projects located in WA’s Pilbara Region.

• Regional spotlight

• Attracting significant capital

• Hosts a number of operating and developing mines, including zinc‐copper deposits such as

• Nifty (MLX)

• Radio Hill (ARV)

• Whim Creek & Salt Creek (VXR)

• Sulphur Springs (VXR)

• Abra (G1A)

• Prairie Downs (MZN)

• Tando’s projects located in close promixity in similar geological settings.

• Leverage to infrastructure.

• Leverage to services support.

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Leverage to the Pilbara “Gold Rush”

• Quartz Bore Project adjacent to new discoveries by De Grey Mining, Venturex Resources and DGO Gold.

• Mt Sydney Project underlain by prospective Hardey Formation.

• Early fieldwork will target gold potential via mapping and sampling.

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Quartz Bore Region

• Located 6km east of Salt Creek Deposit (owned by Venturex Resources).

• Tenement underlain by Mons Cupri Volcanics, host to VMS mineralisation in the Whim Creek Belt.

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Quartz Bore Project
Salt Creek (VXR)
1.0Mt at 7%Zn+2%Cu
Whim Creek (VXR)
1.0Mt at 1.1%Zn+2.1%Cu
Loudens Patch (VXR) Mons Cupri (VXR)
Gold Prospect 4.6Mt at 1.3%Zn+0.9%Cu
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Mineralisation open along strike, at depth

• Mineralisation not tested below 300m from surface[1]

• Recent success using DHMMR and DHEM in combination to map sub‐surface sulphides at Salt Creek (owned by Venturex Resources)[2]

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Balla Balla Long Section [1]
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1 Refer ASX Announcement 3 November 2017 2 Refer ASX.VXR Announcement 31 May 2017

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Advanced Balla Balla Prospect

• Drilling at Quartz Bore to commence within one month of listing.

• Total of 11,193m of historical RC & DD drilling completed[1]

• Mineralisation at Balla Balla defined by drilling over a 600m strike length[1]

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Balla Balla Plan [1]
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1 Refer ASX Announcement 3 November 2017

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High grade results at all QB Prospects

Balla Balla

Balla Balla West

• :

• Significant Results include[1]

• Strike length of 800m defined by drilling

• 15m at 5.11% Zn and 0.12% Cu incl. 5m at 12.5% Zn

• :

• Significant Results include[1]

  • 7m at 9.72% Zn

• 5m at 7.2% Zn and 1.14% Cu incl. 2m at 13.7% Zn

• 2m at 7.61% Zn

• 3m at 15.5% Zn and 0.76% Cu

Balla Balla East

• 10m at 4.45% Zn and 0.22% Cu incl. 2m at 9.74% Zn

• 15m at 5.92% Zn and 0.80% Cu incl. 6m at 7.34% Zn

• Identified by mapping, surface sampling

• Significant Results include 0.8m at 17.2% Cu and 2.30% Zn[1]

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1
Refer ASX
Announcement
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3 November 2017
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Mt Sydney Project

• Located along strike from Rumble Resources’ (ASX.RTR) Braeside Pb‐Zn‐Ag Project.

• RTR drilling November 2017.

• Also potential for conglomerate hosted gold mineralisation (under cover).

• Exciting new greenfields opportunity for VMS mineralisation derived from bimodal volcanic activity, identified by RTR’s lithogeochemical mapping.

• Prospective structures and lithologies in the Braeside Project (owned by Rumble Resources) extend into the Mt Sydney Project.

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Mt Sydney Project

• Rumble have identified structures (linear features) as being key controls on VMS mineralisation.

• Recent VTEM survey by Rumble[1] identified numerous conductors (dots) interpreted by Rumble to correlate with sulphide occurrences.

• Detected conductors clustered on structures which extend into the Mt Sydney Project.

• Tando has engaged Geotech to complete an airborne EM max

• (VTEM ) survey.

Same structures run into TNO ground Yellow structure: 42km in RTR ground vs 28km in TNO ground Blue structure:

• 58km in RTR ground vs

• 21km in TNO ground

Survey to commence in 2 – 3 weeks.

• 1 Refer ASX.RTR Announcement 6 October 2017

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Mt Sydney Gold

• Mt Sydney Project underlain by Hardey Formation.

• Key target for conglomerate hosted gold mineralisation.

• Sedimentary unit at the base of the Fortescue Group which includes recognised conglomerate units.

• Absence of workings/nuggets in East Pilbara can be attributed to blanket of recent sand cover.

• Early stage exploration to include geophysics to detect prospective units,

• Unique opportunity for Tando in parallel with zinc focus .

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Mt Vernon Project

• Prospective for structurally controlled copper mineralisation and stratabound zinc‐lead mineralisation.

• Similar setting to Abra Base Metals Project (Galena Mining) and Newman Base Metals Project (Marindi Metals).

• Historical exploration has identified:

• A number of surface geochemical anomalies[1]

• Zinc mineralisation in drilling[1]

• Initial exploration to comprise review of historical exploration and potential to apply modern techniques.

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1 Refer ASX Announcement 1 November 2017 (Prospectus)

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www.tandoresources.com.au contact@tandoresources.com.au

6559 1792

Disclaimer & Competent Person Statement

• This presentation has been prepared by Tando Resources Limited (“the Company” or “Tando”). The information contained in this presentation is a professional opinion only and is given in good faith.

• The information contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this disclaimer. The document, in whole or in part, is not to be distributed, copied or reproduced, in any form, without the prior written consent of the Directors of the Company.

• Certain information in this presentation has been derived from third parties and though Tando has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Tando.

• Any forward looking statements included in this presentation involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Tando. In particular they speak only to the date of this presentation, they assume the success of Tando’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which these assumptions are based. Recipients of this presentation are cautioned not to place undue reliance on such forward looking statements.

• Tando makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any errors or omissions which may become apparent after this presentation is released.

• To the extent permitted by law, Tando and its officers, employees, related bodies corporate and agents disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Tando and/or any of its agents) for any loss or damage suffered by a recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

• All amounts in A$ unless stated otherwise.

• The information in this report that relates to historical Exploration Results and other technical information for the Company’s Projects complies with the JORC Code and has been compiled by Mr Bill Oliver, a Competent Person who is a Member of The Australasian Institute of Geoscientists and the Australasian Institute of Mining and Metallurgy. Mr Oliver is the Managing Director of Tando Resources Limited. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code. Mr Oliver consents to the inclusion in this document of the matters based on his information in the form and context in which it appears. The Exploration Results are based on standard industry practices for drilling, logging, sampling, assay methods including quality assurance and quality control measures as detailed in Tando’s prospectus released to the ASX on 1 November 2017 and in the ASX Announcement of 3 November 2017.

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