VERITY RESOURCES LIMITED — Investor Presentation 2017

Jun 27, 2017

JUNE 2017 INVESTOR PRESENTATION

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Exploration focussed on “New World” Metals in Botswana

Cobalt Lithium Tantalum Nickel Copper

ASX: BML

Botswana Metals Limited ACN 122 995 072

DISCLAIMER

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GENERAL DISCLAIMER

This presentation has been prepared by Botswana Metals Limited (“BML”). The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. 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 BML, its directors, employees or agents, not any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. No representation is made that, in relation to the tenements the subject of this presentation, BML has now or will at any time in the future develop further resources or reserves within the meaning of the Australian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves (The JORC Code).

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

Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. You should have consideration to the risks involved in investment in BML some of which are detailed in BML’s prospectus dated 26[th] October 2007 as lodged with the Australian Securities and Investment Commission and available from either Australian Securities Exchange Limited or BML on request.

By accepting this presentation, the recipient represents and warrants that it is a person to whom this presentation may be delivered or distributed without a violation of the laws of any jurisdiction.

This presentation is not to be disclosed to any other person or used for any other purpose and any other person who receives this presentation should not rely or act upon it. Information contained in this presentation is confidential information and the property of BML. It is made available strictly for the purposes referred to above. The presentation and any further confidential information made available to any recipient must be held in complete confidence and documents containing such information may not be reproduced, used or disclosed with the prior written consent of BML.

This presentation must not be disclosed, copied, published, reproduced or distributed in whole or in part at any time without the prior written consent of BML and by accepting the delivery or making to it of this presentation, the recipient agrees not to do so and to return any written copy of this presentation to BML at the request of BML.

COMPETENT PERSONS STATEMENT

Information in this presentation that relates to BML Exploration Results, Exploration Targets, geology, drilling and mineralisation is based on information compiled by Peter Temby, an employee of Anpet Exploration Pty Ltd and/or Steve Groves who are both Members of the Australian Institute of Geoscientists. Both Mr Temby and Mr Groves have sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activities that 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. Both Peter Temby and Steve Groves have consented to the inclusion in this presentation of matters based on their information in the form and context in which it appears.

Information in this report that relates to exploration results where %Ni Equivalent results have been calculated is based on information compiled by Mr Steven Groves in compliance with 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.”. All other Exploration Results included in this report have previously been released publicly in compliance with the JORC Code 2004 and have not materially changed since the original disclosure.

CORPORATE OVERVIEW

Current Share Price	A$0.002
Shares on issue	1,462,315,814
Market Capitalisation	$2.9 million
Cash at 26 June 2017	~A$0.1 million
Debt	NIL

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52 Week chart 26/06/2016 to 26/06/2017

BOARD & MANAGEMENT

Pat Volpe	Executive Chairman
	Non-Exec. Director/
Steve Groves	Geologist
Matt Hudson	Non-Exec. Director
	Country Manager/
Elvis Mosweu	Geologist

52 week trading range
(ordinary shares)	0.1c to 0.5c
Top 20(25 June 2017)	45%
Management	19%

BML HAS OVER 1,500KM[2 ] EXPLORATION PORTFOLIO

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All BML Prospecting Licenses are within the Limpopo Mobile Belt in Eastern Botswana

Note : PL110/94, PL111/94 and PL54/98 are part of the BML-BCL Joint Venture. The JV is currently on hold as BCL Investments (Pty) Ltd has been placed under provisional liquidation. This area makes up ~185km [2] out of BML’s ~1,500km[2] exploration portfolio

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SNAPSHOT – JORC RESOURCE – ADDITIONAL RESOURCE POTENTIAL & NEW DISCOVERY AREAS

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2. 16km mineralised
trend
1. MAIBELE NORTH
Maiden Resource
2.38MT
10780a
4. NEW
DISCOVERY
AREA
10830a 3. Extension
Drilling
Discoveries
3. Extension drilling discovered over 0.5km of continuous
1. JORC Resource (775m strike length)
mineralization along strike
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1. 16km long mineralised trend

2. New discovery area with over 23 VTEM targets identified

PROTEROZOIC MOBILE BELTS – LIMPOPO ANALOGUES

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Limpopo Mobile Zone Circum-Superior Belt Albany – Fraser
Ultramafic Volcanism ~ 2.05Ga Ultramafic Volcanism ~ 1.88Ga Ultramafic Volcanism ~1.3Ga
Selebi Phikwe (BCL Mine) Messina Cu Nova-Bollinger Tropicana Gold
Thompson Belt Raglan Deposits
40Mt @ ~1.75% Cu 14.3Mt @ 2.4%Ni, 117 Mt @ 2.06g/t
175 Mt @ 0.81% Ni, 0.85% 120Mt @ 2.1% Ni 35Mt @ 2.9% Ni
(historical est.) 0.9%Cu, 0.08%Co Au
Cu
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Limpopo Mobile Belt in Botswana Chronically Underexplored!

• Maibele North ~50km away from Selebi Phikwe where 175Mt have been mined

• BMLs Portfolio contains up to 32km strike length of the same geology

BML’S FOCUS ON “NEW WORLD” METALS AND MINERALS

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Cobalt Lithium Tantalum + Tin Nickel + PGE’s Copper + Silver (Co) (Li) (Ta) + (Sn) (Ni) (Cu) + (Ag) 2017 LME Spot Price 2017 Spot Price 2017 Ta Spot Price 2017 Ni Spot Price 2017 Spot Price US$58,500/tonne US$9,100/tonne US$128,000/tonne US$10,000/tonne US$5,600/tonne Sources: Metalary – Daily Metal Prices 2017 LME Sn Spot Price and London Metal Exchange (LME) US$ 20,000/tonne

These New World Metals are becoming increasingly important as the world switches to cleaner sources of energy

BATTERY MATERIALS PRICE FORECASTS SUMMARY

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Source: Canaccord Genuity Estimates

COBALT – KEY INGREDIENT TO MODERN TECHNOLOGY

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COBALT IS BECOMING AN INCREASINGLY VITAL INGREDIENT IN THE LATEST TECHNOLOGY

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Laptops: 33 grams Co
Tablets: 23 grams Co
Smartphones: 6 grams Co
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Electric Vehicles: 15kg Co
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Pictures Source: Pixabay

Cobalt LME Spot Price US$/tonne

Cobalt market balance and price forecasts

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Source: Canaccord Genuity estimates

HIGH GRADE COBALT RESULTS

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BML HAS SIGNIFICANTLY HIGH COBALT INTERCEPTS AT MAIBELE NORTH

(SEE ASX ANNOUNCEMENT 5 MAY 2017)

MARC0096:

• 2m @ 1,168ppm from 54m depth;

• 1m @ 928ppm from 67m depth;

• 1m @ 1,330ppm from 89m depth;

• 1m @ 1,220ppm from 103m depth;

• 4m @ 1,227ppm from 113m depth;

• 1m @ 979ppm from 122m depth.

MADD117:

• 0.14m @ 1,010ppm from 252.44m depth

OVER 1.5KM OF COBALT STRIKE, OPEN TO THE EAST AND WEST COULD POTENTIALLY CONTINUE MINERALISATION

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LITHIUM BATTERY BOOM

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Lithium – an important driver in battery technology

Used in numerous applications, divided into two categories:

• Chemical and Technical

The fastest growing market for lithium is for use in batteries , including:

 Electric Vehicles

 Renewable Power Storage

 Consumer Electronics

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Electric Vehicle Power Walls – Source: Pixabay

Estimated required installed battery manufacturing capacity by market end use

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The demand for Li is forecast to grow exponentially as technology advances.

Concerns exist regarding sources of supply and whether future supply will meet the growing demand.

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Source: Canaccord Genuity Estimates
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TANTALUM – AN UNDERRATED YET PRECIOUS ELEMENT IN TECHNOLOGY

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TANTALUM

Tantalum is receiving increasing attention for its industrial uses and is in almost any piece of home or industrial electronic equipment.

Ta capacitors are in electronics such as:

 Smart phones & Tablets

 PCs & laptops

 Digital cameras

 LCD screens

 Smart systems in Electric Vehicles

Ta is also an essential component for jet turbine blades and nuclear reactors

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(Source: http://www.infomine.com/investment/metal-prices/tantalite-ore/ )
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Ta capacitors are perfect for use in medical equipment , including hearing aids, pacemakers and orthopaedic implants.

The largest Tantalum deposits are located in Australia, Brazil and Africa.

POTENTIAL FOR TANTALUM AND LITHIUM IN PEGMATITES

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• Globally, pegmatites host many significant Li and Ta deposits:

• Bikita (Zim), Greenbushes (WA), Marropino (Mozam), Namibia

• Zimbabwe is 5[th] largest Lithium producer globally – most production is from the Bikita Li-Ta Mine

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• Bikita lies 400km NE of BML’s LMZ tenements on Northern margin of LMZ (in Zim Craton)

• LMZ contains re-worked equivalent Archaean rocks

• Historical exploration on BML PLs contains highly anomalous Ta results (see ASX Announcement: 23 May 2016)

• Marropino Ta pegmatite deposit in Mozambique – 15Mt @ ~340ppm Ta5O6

• Marropino hosted in Proterozoic Mobile Belt rocks

• Li + Ta often associated in LCT family of Pegmatites

HISTORIC AND CURRENT TA EXPLORATION

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• BML PLs in the Limpopo Mobile Zone contain numerous large pegmatites mappable at surface (see ASX Announcement: 23 May 2016)

• Historical exploration revealed highly anomalous Ta in stream sediment sampling

• Mapped pegmatites spatially coincident with elevated Ta

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(ppb)
Exposed Pegmatite Dyke
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Coloured gridded image of the MAGSAM Ta results showing several strongly anomalous areas across BML’s portfolio (Red colours). The results will be compared to the location of pegmatites in the field

HIGHLY ANOMOLOUS LITHIUM + TANTALUM + TIN

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86 SOIL SAMPLES FOUND 5 ANOMOLOUS AREAS FOR LI, TA, AND SN OVER 5KM OF THE MAIBELE NORTH AREA

Best Results (at Surface): (ASX Announcement 27 February 2017)

Lithium: 72ppm 33ppm Tantalum: 39.3 ppm Tin: 155ppm 130ppm

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Map showing the 5 anomalous areas identified for follow up detailed exploration. Note that in each area, at least two of the three elements of Li, Ta and Sn are elevated, as would be expected in a zoned mineralised . pegmatite body

COPPER’S VALUE IN BATTERIES RISING

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COPPER’S USE IN BATTERIES AND WIRING HAS GROWN SUBSTANTIALLY

DEMAND FOR COPPER IS WIDELY FORECAST TO OVERTAKE SUPPLY IN THE 2017-2020 PERIOD DUE TO SUPPLY CONCERNS AND STRONG CHINA DEMAND GROWTH

Copper demand will be substantially impacted by the growing market for electric vehicles .

Copper’s usage in each EV is:

• Internal combustion engine: 23kg Cu

• Hybrid EV: 40kg Cu

• Plug-in hybrid EV: 60kg Cu

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Electric Vehicle Cu Demand

• Battery EV: 83kg Cu

• Hybrid electric bus: 89kg Cu

• Battery-powered electric bus:

224-369kg Cu

Source: ID Tech Ex, International Copper Association – Copper Alliance

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Source: ID Tech Ex, International Copper Association – Copper Alliance

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DIBETE: COPPER & SILVER DISCOVERY – POTENTIAL STRIKE 3.5KM

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Summary drill results: Line 6100E & 6400E

• 38m @ 1.72% Cu and 119.5 g/t Ag from DBRC014 (includes 10m @ 2.33% Cu and 126.5 g/t Ag ; 8m at 3.86% Cu and 364.1 g/t Ag ; and 3m at 9.16 % Cu and 894 g/t Ag)

• 18m @ 1.99% Cu and 98.4 g/t Ag from DBRC013 (includes 10m @ 3.11% Cu and 163.0 g/t Ag )

• 18m @ 1.78% Cu and 28.9 g/t Ag from DBRD006 (includes 5m @ 4.19% Cu and 92.5 g/t Ag ; and 9m @ 2.75% and 54.7 g/t Ag )

• 17m @ 2.7% Cu 40.5g/t Ag from 16m in DBRC081 (includes 3m @ 6.7% Cu and 44.5g/t Ag from 24m; and 3m @ 4.7%Cu and 106.9g/t Ag from 27m)

Plan View of Dibete Line 6100E

• 12m @ 1.8% Cu 42g/t Ag from 33m in DBRC094 (includes 4m @ 4.2% Cu and 95g/t Ag from 37m)

Line 6400E

• 11m @ 4.5% Cu 229.9g/t Ag from 33m in DBRC028 (includes 3m @ 8.16% Cu and 469g/t Ag )

• 10m @ 3.9% Cu 110g/t Ag from 43m in DBRC108 (includes 4m @ 9.2% Cu and 268g/t Ag from 43m)

• 9m @ 2.8% Cu 87.3g/t Ag from 33m in DBRC107

• 6m @ 2.3% Cu 117g/t Ag from 34m in DBRC097 (includes 2m @ 5.7% Cu and 322.5g/t Ag from 34m

Long Section : Line 6100E

(see ASX announcement 10 January 2011)

FROM KNOWN DRILLING 2KM STRIKE CONFIRMED

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FIGURE BELOW SHOWS CONCENTRATED DRILLING AT MAIBLELE WITH NICKEL INTERCEPTED AT THE AIRSTRIP COPPER AND SILVER DISCOVERY.

MAIBELE NEW ZONE DISCOVERED IN MADD0094

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See ASX Announcement 20 November 2014

MAIBELE NORTH  AIRSTRIP COPPER – COBALT – NICKEL – SILVER - PGE

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MAIBELE NORTH (See ASX Announcement 13 January 2015)

AIRSTRIP (See ASX Announcement 27 October 2011)

Significant Nickel + Copper + Cobalt intersections from current drill holes: MADD0057

• 6.74m @ 2.58% Ni , 0.90% Cu , 1,417ppm Co , 0.1g/t Au , 1.78 g/t PGE

Previous drilling highlights from conductors C6 and C12 include:

• 1.50m @ 1.83% Ni , 0.595 Cu , 1,040 ppm Co , 0.11g/t Au , 1.38g/t PGE

• 9.57m @ 2.27% Ni , 0.71% Cu , 1,169 ppm Co , 0.25g/t Au , 1.07g/t PGE

From a total intersection of:

• 26.43m @ 1.65% Ni , 0.54% Cu , 891 ppm Co , 0.14g/t Au , 0.99g/t PGE

MADD0058 :

• 29.12m @ 0.90% Ni , 0.40% Cu , 526 ppm Co , 0.12g/t Au , 0.63g/t PGE

C6 Conductor

• High grades of up to 22% Cu with 1,023g/t Ag in narrow bornite veins (best 60% Cu and 2,833 g/t Ag over narrow widths)

Including

• 1.81m @ 2.52% Ni , 1.75% Cu , 1,451 ppm Co , 0.41g/t Au , 1.45g/t PGE

• 1.15m @ 1.79% Ni , 0.55% Cu , 1,036 ppm Co , 0.09g/t Au , 2.39g/t PGE

• 1.40m @ 1.58% Ni , 0.13% Cu , 904ppm Co , 0.06g/t Au , 0.72g/t PGE

• 1.43m @ 2.93% Ni , 0.47% Cu , 1,392ppm Co , 0.07g/t Au , 1.35g/t PGE

C12 Conductor

• 6m @ 2.7% Cu plus 172g/t Ag from 68m from ACDC067 (includes 1m @ 8.8% Cu plus 214g/t Ag from 70m)

MADD0059:

• 19.00m @ 0.73% Ni , 0.29% Cu , 565ppm Co , 0.09g/t Au , 0.77g/t PGE

• High grade Cu-Ag mineralisation is close to surface and potentially amenable to open pit methods

Including

• 0.97m @ 2.72% Ni , 0.43% Cu , 1,373ppm Co , 0.07g/t Au , 1.27g/t PGE

• 0.78m @ 1.84% Ni , 2.11% Cu , 2,155ppm Co , 0.40g/t Au , 8.01g/t PGE

• 0.95m @ 1.89%Ni, 0.73% Cu , 971ppm Co , 0.10g/t Au , 0.96g/t PGE

MADD0060:

• 5.45m @ 1.00%Ni, 0.73% Cu , 416 ppm Co , 0.09g/ t Au , 0.66g/t PGE

Including

• 1.21m @ 1.69% Ni , 0.24% Cu , 1,043ppm Co , 0.08g/t Au , 1.15g/t PGE

MADD0062:

• 1.02m @ 2.05% Ni , 0.63% Cu , 1,099ppm Co , 0.07g/t Au , 1.40g/t PGE

MADD0063:

• 1.27m @ 1.98% Ni , 0.175 Cu , 1,079ppm Co , 0.05g/t Au , 0.94g/t PGE

BCL INVESTMENTS (PTY) LIMITED AND BML JOINT VENTURE UPDATE

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MAIBELE NORTH JOINT VENTURE

BEFORE BCL WAS PLACED INTO PROVISIONAL LIQUIDATION:

Maiden JORC-compliant Inferred Resource declared April 2015 (see ASX Announcement: 28 April 2015)

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Note: Significant Co levels exist but Co was not included in initial resource

• Resource is open to East, West and at Depth

• BML - BCL Joint Venture is currently suspended, pending advice from the liquidator on how the Joint Venture will proceed

BML – BCL JOINT VENTURE UPDATE

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BCL FARM IN AGREEMENT: PL110/94, PL111/94 AND PL54/98

BCL has earned a 40% interest in the 3 PL’s and had indicated its intention to proceed to earn up to 70% interest as per the JV Agreement, before it was placed into provisional liquidation in 2016.

These three JV licences cover ~185km[2] out of BML’s ~1,500km[2] exploration portfolio

• On 15 June 2017 the High Court of Botswana placed BCL Limited into final liquidation

• However, BCL Investments (Pty) Ltd, a subsidiary of BCL Limited, has had its provisional liquidation period extended for a further 6 month

• BML and BCL Investments (Pty) Ltd are parties to the JV Agreement

• See ASX Announcement 19 June 2017 for further information

BML will keep shareholders informed as further information materialises from discussions with KPMG, the provisional liquidator.

BML’s will continue to focus on its exploration portfolio of New World Metals

CONTACT

Registered Office: Suite 506, Level 5, 1 Princess Street Kew VIC 3101 Australia

Telephone: +61 3 9855 1885 Facsimile: +61 3 9855 2885 info@botswanametals.com.au www.botswanametals.com.au

Mailing Address; Suite 3, 16 Cotham Road Kew VIC 3101 Australia

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