XENORA MINERALS LTD — AGM Information 2021

Oct 28, 2021

Part of the New Energy Solution

Presentation – AGM October 29 2021 Will Dix – Managing Director

Disclaimer

• This presentation has been prepared by Todd River Resources Ltd. This document contains background information about Todd River Resources Ltd current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

• This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of Todd River Resources Ltd shares in any jurisdiction. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

• This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Todd River Resources Ltd, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Todd River Resources Ltd. Actual values, results or events may be materially different to those expressed or implied in this presentation.

• Release authorised by Todd River Resources Managing Director, Will Dix.

Competent Person’s Statement

• The information in this announcement that relates to exploration results is extracted from ASX Announcements titled:

• “Maiden Mineral Resource Estimate at Mt Hardy” lodged on 10 July 2019”

• “Ni-Cu-PGE Anomalism Shows Prospectivity of Berkshire Valley” lodged on 13 July 2020

• “Todd River Exercises Option over Nanutarra Nickel Project” lodged on 27 October 2020

• “Berkshire Valley Initial Aircore Drilling Update” lodged on 15 June 2021

• “Pingandy Base Metal Project Update” Lodged on 21 June 2021

• “Extensive Ni-Cu-PGE Auger Anomalies at Berkshire Valley” lodged on 29 June 2021

• “Nerramyne Project Update” Lodged on 13 July 2021

• “New geochemical Anomalies Identified at Berkshire Valley” lodged on 31 August 2021

These announcements may be viewed at www.trrltd.com.au and www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

• The information in this announcement that relates to the estimation and reporting of the Hendrix Resource is extracted from the ASX announcement titled "Maiden Mineral Resource Estimate at Mt Hardy" lodged on 10 July 2019 which is available to view at www.trrltd.com.au and www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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Investment Highlights

Key assets include five 100% owned

projects

and earn-in rights to a sixth which provide exposure to large, geologically robust projects throughout Western Australia and the Northern Territory.

WA Projects underpin aggressive Ni-Cu-PGE exploration strategy – Significant drilling campaign to commence midNovember 2021

Experienced exploration Board featuring Will Dix (MD), Dr Mark Bennett (Sirius) and Stu Crow (Lake Resources)

Strong share register with the Top 20 owning approximately 58%

Strong cash position of

+$6.5m at June 2021

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Corporate Overview

Capital Structure

ASX Code TRT Shares on Issue 558m Options on Issue (85m at 6c) 101m Share price (26 October 2021) 8.0cps Share price (26 October 2020) 3.5csp Market Capitalisation (fully diluted) $45m Cash at June 2021 $6.45m Enterprise Value $38.55m

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13.9%
4.4%
13.9%
3.0%
6.1%
11.7%
62.2%
81.7%
6.1%
6.1%
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Major Shareholders

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S2 Resources
Deutsche Balaton
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Avenger Projects

Acorn

others

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Experienced, hands-on team

Edward Fry Non-Executive Chairman

Edward has extensive experience within the Australian resource sector and is a specialist in Indigenous and Native Title issues. He holds a Diploma in Business Management from the University of South Australia and is a graduate of the International Lead and Zinc Study Group conducted out of Belgium on international base metal global supply and demand trade.

Will Dix Managing Director

Will is a geologist with 25 years’ experience in base metal, gold and uranium exploration and mining. He has a proven track record of successful project and team management and also has extensive experience in commercial activities including capital raisings, mergers, acquisitions and divestments.

Mark Bennett Non-Executive Director

Mark is a geologist with 30 years’ experience in gold, nickel and base metal exploration and mining. He is currently the Executive Chairman of ASX listed S2 Resources. Previously Mark was the managing director and CEO of Sirius from its inception to its merger with Independence Group, and was non-executive director of Independence Group following the merger until May 2016.

Stuart Crow Non-Executive Director

Stuart has more than 35 years’ experience in all aspects of corporate finance, stockbroking and investor relations in Australia and international markets and has owned and operated his own businesses in these areas.

Su-Mei Sain Finance Director

Su-Mei has been in the mining resources industry for over 15 years in various finance positions at companies such as Apex Minerals, Consolidated Minerals, Sirius Resources and S2 Resources. She joined Todd River Resources as CFO in February 2019. She is a member of the Certified Practising Accountants Australia.

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Current Projects Targeted Nickel and Copper Exploration throughout WA and NT

Key Asset Overview

NANUTARRA (Earning up to 80%)

• Large unexplored ultramafic intrusion prospective for Ni-Cu-PGE sulphides

• RC drilling to follow up +1g/t PGE in shallow historic drilling completed – waiting on results

• TRT earning up to 80% by spending A$2M over 3 years

NERRAMYNE (100% TRT)

• Recently granted early stage large COPPER anomaly on the Yilgarn Basin margin

• 40km x 6km copper anomaly

• Large EM survey planned for late 2021/early 2022

BERKSHIRE VALLEY (100% TRT)

• Highly prospective Ni-Cu-PGE tenure 100km north of Julimar discovery (ASX:CHN)

• Auger geochemical sampling and aircore program completed over initially targeted stratigraphy

• Significant PGE Anomalism identified on unexplored Eastern Trend

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Alice Springs
Perth
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PINGANDY (100% TRT)

• Recently granted early stage Zn/Pb project analogous to Rumble Resources Earaheedy Basin Project

• Initial sampling complete – looking for vectors to hot spots

Mt HARDY (100% TRT)

• Hendrix inferred resource of 2.6Mt @ 10.5% Zn eq*

• Resource open at depth and to the south

• Multiple regional targets for 2021 follow up all with base metal intersections

PETERMANN RANGE (100% TRT)

• Large Land position (6,200km[2] ) in the Central Musgrave Province

• ▪ Un-explored region of the Musgraves (40yrs) with COPPER prospectivity

• ▪ Waiting on final decision from Traditional Owners re access

• ▪ Aiming for Initial field work in 2022

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Upcoming Activity Timeline

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PROJECT November December January February March Q2 2022 Q3 2022
Aircore and RC Drilling of Geochem Anomalies – East Trend
Nickel-Copper-PGE
Moving Loop EM RC/DDH Drilling Crop in the ground limited exploration to Q4
Berkshire Valley
Further Land Access Discussions
Gold
Aircore Drilling of Geochem Anomalies RESULTS RECEIVED AND PLANNING FOR ROUND 2
Berkshire Valley
Nickel-Copper-PGE
Moving Loop EM Heritage Survey RC/DDH Drilling
Nerramyne
Zinc-Lead-Silver
Initial Geophysics and Sampling
Pingandy
Copper-Zinc-Silver Aircore Drilling of Follow Up
Mt Hardy Northern Targets RC
Nickel-copper-PGE Copper-Gold
Results Due – decision
Nanutarra on further work Petermann Range First Pass Exploration – subject to signing agreement
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*** Drilling at Nerramyne to be part-funded by successful EIS drilling application for 2022**

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Berkshire Valley Project Nickel, Copper and PGE Project | 100% owned

Berkshire Valley | Nickel, Copper and PGE Project | 100% owned

Project Overview

• Highly prospective Ni-Cu-PGE tenure 100km north of

• Julimar discovery (ASX: CHN)

• Auger geochemical sampling and aircore program completed over initially targeted stratigraphy

• Multiple drill targets identified on both the Western and Eastern Trends

• Significant coincident Ni-Cu-PGE Anomalism identified on unexplored Eastern Trend

▪ Drilling and geophysics to commence in early November 2021 following the 2021 harvest

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Berkshire Valley | Current Exploration | Eastern Trend Auger Geochemistry

Berkshire Valley Exploration – Eastern Trend

• No previous exploration at all over the eastern mafic/ultramafic trend – TRT first with land access

• 1850 samples collected and prepared internally and XRF analysed prior to a subset being assayed for base and precious metals

• Coverage was focused over a number of discrete mag highs interpreted to be gabbro-norite intrusions

• Results have been exceptional and delivered a number of walk up drill targets for November drilling campaign and EM targets for the next round of MLTEM (late November)

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Berkshire Valley | Current Exploration | Eastern Trend Auger Geochemistry

Berkshire Valley Exploration – Eastern Trend

• 2 significant anomalies overlie targeted mafic and ultramafic intrusions that are coincident with strong magnetic high features;

• Maximum assay values are 0.93% Ni, 0.09% Cu, 57.7ppb Pd and 47.5ppb Pt ;

• 2.8 Km long northern anomaly has PGE values consistently above 20 ppb Pt+Pd (or 10-15 times background) associated with strongly anomalous Cu (100-900ppm) and Ni (100-300ppm);

• Several coincident Ni-Cu-PGE anomalies in the southern 5 km long anomaly that is truncated by alluvium to the south;

• Land access agreements in place ready for Moving Loop EM and drilling to be undertaken as early as next week on the Eastern Trend.

• Priority 1 exploration for the Company

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Berkshire Valley | Current Exploration | Eastern Trend Auger Geochemistry

Berkshire Valley Exploration – Geochemistry

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2.8Km
5Km
Alluvial
Channel
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Berkshire Valley | Current Exploration | Eastern Trend Auger Geochemistry

Berkshire Valley Exploration Compare CHN - TRT

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• Large coherent anomalies in all 3 elements;

• By far the best geochemistry seen to date is the Eastern Trend data released today;

• Note the difference in extent and consistency of the Pd anomalies

• Best coincident Cu + Pd anomaly is over 1.8Km long;

• Large open areas remain – ongoing discussions;

• Drilling and MLTEM focus

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Alluvial
Channel
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Nanutarra Project Nickel and Copper Project | Earning up to 80%

Nanutarra | Nickel and Copper | Earning up to 80%

Large ultramafic intrusion

• TRT has exclusive option to earn up to 80% by spending $2M over 3 years on exploration

• Large partly exposed Proterozoic mafic-ultramafic intrusion

• Permissive environment for Ni-Cu-PGE sulphides

• Strongly anomalous Ni-Cu-PGE pathfinder geochemistry in shallow laterite drilling

• Very little previous work completed outside a small area of the intrusion

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Nanutarra | Nickel and Copper | Earning up to 80%

RC Drilling August 2021

• RC Drilling to follow up historic PGE anomalism in shallow vertical holes

• Anomalous PGE values intersected in a number of holes associated with ultramafic units of the intrusion

• Confirms the fertility of the system and geochemistry indicates the drilling is located in the mid levels of the intrusion

• Broad spaced follow up work required to identify most optimal areas for further drilling in 2022

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Other Projects Petermann Range | Mt Hardy | Pingandy | Nerramyne

Western Australia Assets | Nerramyne Copper Project

Nerramyne Copper Project

• 462 square kilometres covering large Cu anomaly on the contact between the Yilgarn Craton and Narryer Terrane;

• 40 x 6 kilometre low level in soil copper

• geochemical anomaly identified in state geological survey (GSWA) regional data

• Previous exploration is limited solely to one small surface geochemical sampling program in the northern part of the granted tenement

• Neighbouring companies include Chalice Gold Mines, S2 Resources and AusQuest Ltd;

• Broad scale EM survey planned for late 2021/early 2022

• EIS co-funded drilling application was successful for 2022 drilling – scheduled for Q2 2022

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Western Australia Assets | Pingandy Base Metal Project

Pingandy Base Metal Projects

• 895 square kilometres with existing base metal anomalism in the Edmund Basin;

• Covers the projected down dip extensions of the Blue Billy Formation, previously identified as a potential host for Sedex style base metal mineralisation

• Previous limited to areas of or exploration outcrop

• adjacent down-dip extent and NOT towards the Perry Fault which is potentially to crustal scale structure that would be the fluid source for mineralisation

• Initial sampling completed in late September 2021 quarter with surface geochemical sampling designed to vector into areas for follow up drilling and geophysics;

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Northern Territory Assets | Petermann Range

Strong Focus on NT

• Over 6,000km[2] of tenure under application with 3,200km[2] to proceed to grant pending finalisation of Exploration Agreement – GOLD and COPPER FOCUSED

• Largest land position in the central Musgrave Province

• No exploration activities for over 40 years

• 10 gossans over a 12 Km strike identified in 1966 – anomalous in Cu, Pd, Au, Zn, Co – only 38 shallow weathered zone drilling completed

• Final negotiated Exploration Agreement to be presented to the TO’s by the CLC for their determination

• If successful - Initial exploration focus with heritage surveys, first pass mapping, broad surface sampling and geophysics planned for Q2-Q3 2022

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Northern Territory Assets | Mt Hardy

Hendrix and Regional Exploration

• Mineral Resource estimate at Hendrix 2.6Mt @ 10.5% Zn Equivalent* open to the south and at depth

• Multiple regional targets successfully tested with first pass RC drilling in 2019 – no work since due to COVID access restrictions and other priorities

• Strong base metal geochemical anomaly over 1.2Km2 NE of Hendrix (unrelated to Hendrix) and northern tenement unexplored for base metals

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Hendrix
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Hendrix Geological Wireframe
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Outlook Right Commodities. Right Time.

Outlook

NERRAMYNE & PINGANDY (100% TRT)

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▪ Broad scale MLTEM at Nerramyne
▪ Detailed sampling at both projects
▪ Initial drill programs Q1-Q2 2022
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Alice Springs
BERKSHIRE VALLEY (100% TRT)
▪ Aircore drilling of Eastern Trend walk-up
targets (Ni-Cu-PGE and Gold) – November
and December 2021 Perth
▪ Systematic detailed MLTEM – November
and December 2021
▪ Follow up RC and potentially diamond
drilling – December 2021 and Q1 2022
▪ New areas becoming available via Further
Land Access Discussions - ONGOING
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Mt HARDY (100% TRT)

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▪ Detailed Geochem over anomalous
streams and tenements – Q2 2022
▪ Drilling regional targets in north of
project Q2 and Q3 2022
▪ Further drilling of 2019 target areas Q3
2022
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PETERMANN RANGE (100% TRT)
▪ Finalisation of Exploration Agreement
–
Q4 2021
▪ If approved - Initial field work in
Q2/Q3 2022
▪ Focus on copper and gold
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WILL DIX Managing Director

08 6166 0255 corporate@trrltd.com.au