A U S T R A L I A ’ S N E X T U R A N I U M P R O D U C E R

ASX: BOE

1

OPTIMAL

TIMING

RISING

DEMAND BARRIERS

TO PRODUCTION

TIGHTENING

SUPPLY

URANIUM| BULL MARKET FUNDAMENTALS

2

URANIUM| OPTIMAL TIMING

$138/lb

Global Financial Crisis

SPOT PRICE

$70/lb Fukushima

Major Mine Flood (McArthur River)

McArthur River

shut down $25/lb

CONTRACT PRICE

2004

2006

2008

2010

2012

2014

2016

2018

BOSS AISC US$ 23.90/lb

US $

/lb

U308

$40

$60

$80

$100

$120

$140

$20

3

S232 PETITION RESOLVED

US$60 LB FOR MOST URANIUM MINES TO RECOVER COSTS

50

100

150

200

250 2

01

7

20

18

20

19

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20

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2025

20

26

20

27

20

28

20

29

20

30

mill

ion

poun

ds U

308

– pe

r UxC

Q3’

2017

CONTRACTED DEMAND

UNCOVERED DEMAND

URANIUM| RISING DEMAND

FASTEST NUCLEAR POWER GROWTH IN PAST 25 YEARS

4

URANIUM| BULL MARKET FUNDAMENTALS

5

50

100

150

200

250

mill

ion

po

un

ds

U308

$20

$40

$60

$80

$100

$120

$140

US $/lb U308

INVENTORIES

WORLD URANIUM PRODUCTION

COMMERCIAL REQUIREMENT

S

SPOT PRICE

SIGNIFICANT LONG-TERM GLOBAL SUPPLY SHORTAGE IS EMERGING

URANIUM| TIGHTENING SUPPLY

6

7

BOSS RESOURCES| BARRIERS TO PRODUCTION

• No new production can be built economically at current prices

• Lack of funding for new exploration

• Permitting requirements increasingly difficult

7

PREMIER JURISDICATION

RESOURCES &

EXPLORATION UPSIDE

$170M EXISTING

PLANT

BOSS RESOURCES| THE HONEYMOON PROJECT

STAKEHOLDER VALUE

8

9

SYDNEY

MELBOURNE

PERTH

ADELAIDE

BOSS RESOURCES

HONEYMOON

PROJECT

BEVERLEY OLYMPIC

DAM

BOSS RESOURCES| PREMIER JURISDICTION

• 1ST world mining

jurisdictions attract tier 1

investment and talent

• Three of Australia’s four fully

permitted uranium mines

are in South Australia

9

10

BOSS RESOURCES| RESOURCES & EXPLORATION UPSIDE

CLASSIFICATION Million Tonnes

U3O8 ppm Contained U3O8 (Mkg)

Contained U3O8 (Mlb)

Measured 3.1 1,100 3.4 7.6

Indicated 18.4 630 12.0 25.5

Inferred 30.9 570 18.0 38.5

Total 52.4 620 32.5 71.6

71.6Mlb U3O8 JORC Resource

Mining License 6109 contains 34 Mlb U3O8

Average grade 620 U3O8 ppm

Exploration target up to 190 Mlbs U3O8

Shallow mineralisation at 90-120m depth

10 targets being explored by passive seismic surveying

10

11

$170 MILLION INFRASTRUCTURE VALUE

PRODUCTION

PLANT

MODERN

CAMP

WATER

SUPPLY

AIRSTRIP &

ROADS

POWER

ACCESS

AUSTRALIA’S NEXT URANIUM PRODUCER

12

EXCELLENT

ECONOMICS

FULLY

PERMITTED

EXPERIENCED

TEAM

URANIUM| COMPELLING INVESTMENT

MAXIMISING

RETURNS

MINIMISING RISK

$

13

$0 20

40

60

80

10

0

12

0

14

0

16

0 Million lbs U308

SPOT

PRICE

OFF-TAKE

PRICE

Under Ground

Open Pit

By-Product In situ Recovery

BOSS AISC US$ 23.90/lb

PROFITABILITY | ADVANTAGEOUS PRODUCTION ECONOMICS

14

US$60 LB FOR MOST URANIUM MINES TO RECOVER COSTS

BOSS RESOURCES|PROFITABLE STAGED DEVELOPMENT

15

BOSS RESOURCES| UNIQUE VALUE PROPOSITION

EXPERIENCED TEAM

World leading uranium team

Discovered, built, produced, sold

Closed biggest M&A transaction in last bull market $2.2 Billion

FULLY PERMITTED

Uranium export permit renewed

Native Title agreements all in place

1 of 4 mines fully permitted

16

GLOBAL PEER COMPARISON | BOSS FIRST MOVER ADVANTAGE

17

Low Risk

Low CAPEX Low AISC

QUICK

START

High Risk

High CAPEX

High AISC

including exploration resource potential

18

Board of Directors Mark Hohnen * Chairman

Duncan Craib * Managing Director/ CEO

Bryn Jones ** Technical Director

Evan Cranston Non-exec Director

Peter Williams Non-exec Director

Mathew O'Hara CFO/ Co Sec

Senior Management Sashi Davies * Strategic & Marketing

Keith Bowes Project Manager

Asha Rao Geology Manager

* ex- Extract/ Kalahari ** starts 15 September 2019

Institutional Shareholders Paradice 10%

Tribeca 10%

L2 Capital

Sachem Cove

Segra Board and management 6% Top 20 shareholders 60%

Research Coverage BW Equities

Canaccord

Euroz

Larry Hill

Michael Emery

Hartleys Paul Howard

Patersons Cameron Hardie

CORPORATE INFORMATION | COMPANY PARTICULARS

18

Trading Information as at 15 July 2019

Historical Share Price

0.00

0.02

0.04

0.06

0.08

0.10

0.0

30.0

60.0

90.0

120.0

Mar-18 Jul-18 Nov-18 Mar-19

Volume - RHS BOE Shareprice - LHS

V3

Average Daily Trading Volume

3 MONTHS 3m

6 MONTHS 2.5m

Share Price 5.8 cents Market Capitalisation AUD$ 90 million Shares on Issues 1,584 million Enterprise Value AUD$ 100 million UNDILUTED Available Cash AUD$ 10.5 million

CORPORATE INFORMATION | SHARE PRICE & MARKET CAPITALISATION

19

20

BOSS Resources is ready to take advantage of the next uranium bull market …

BOSS RESOURCES| FIRST MOVER ADVANTAGE

• Signals in the uranium industry are pointing to a new Bull Market

• The Honeymoon Project – destined to be Australia’s next uranium producer

• Boss Resources – the leading low cost, low capex, market ready uranium company

20

DISCLAIMER

The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or in writing by or on behalf of Boss Resources Limited (“Boss”) or its respective

employees, agents or consultants (Information) is provided to the recipients on the terms and conditions set out in this notice. The purpose of this presentation is to provide recipients with information relating

to Boss Projects.

This presentation does not constitute investment advice and has been prepared by Boss without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each

recipient must make his/her own independent assessment and investigation of Boss and its business and assets when deciding if an investment is appropriate and should not rely on any statement or the

adequacy and accuracy of any information. This presentation is in summary form and does not purpose to be exhaustive. This presentation should be read in conjunction with Boss’ periodic and continuous

disclosure announcements lodged with the Australian Securities Exchange, which are available to download at www.asx.com.au.

Boss makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completeness of the Information. Boss and its directors, employees, agents and consultants shall have

no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived

from, or for any omissions from the presentation, except liability under statute that can not be excluded.

This presentation may contain forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Boss.

Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking

statements.

This presentation does not constitute in any way an offer or invitation to subscribe for securities in Boss pursuant to the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and

Investment Commission.

The information in this document relating to the Expansion Study is extracted from the announcement entitled ‘Positive Expansion Study Results Progress The Honeymoon Uranium Project To PFS’ dated 28

September 2016 and the information relating to the Pre-Feasibility Study is extracted from the announcement entitled “Honeymoon Pre-Feasibility Study Heralds Near Term Production Potential” dated 31

May 2017. The information in this document relating to the Mineral Resources is extracted from the announcements released to the ASX on 20 January 2016, 8 April 2016, 14 June 2016, 15 March 2017, 25

February 2019. The information relating to the Exploration Target is extracted from the announcement released to the ASX 8 December 2015 and 25 March 2019. The information relating to the Exploration

Results for the Jasons Deposit is extracted from the Company’s announcements dated 6 December 2016, 8 December 2016, 14 December 2016 and 3 February 2017. The information relating to the results

from the Field leach Trial (FLT) and Ion Exchange Pilot Plant have been extracted from the announcements released to the ASX on 19 June 2017, 31 July 2017, 13 September 2017, 4 & 26 October 2017, 1 & 15

November 2017. The information in these announcements has been compiled and/or reviewed by Dr Marat Abzalov, who is a Competent Person as defined in the 2012 edition of the “Australasian Code for

Reporting Mineral Resources and Ore Reserves”. Dr Abzalov has consented to the inclusion of the information in this presentation in the form in which it appears and confirmed that the form and context in

which the Competent Person’s findings are presented have not materially changed since initial release to the ASX.

The Exploration Target is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource

under the JORC Code 2012. The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve.

21

THANK YOU

@BOSS_RESOURCES

WWW.BOSSRESOURCES.COM.AU

ASX: BOE

CUTTING EDGE PRESENTATION

Melbourne Mining Club

16 July 2019

David Boyd Managing Director

16 July 2019 2

COMPLIANCE, DISCLAIMER AND CAUTIONARY STATEMENTS

These Presentation Materials include information that relates to Exploration Results prepared and first disclosed under the JORC Code (2012). The information was extracted from the Company’s previous ASX Announcements as follows: • Jamieson: “New Gold Prospects Defined at Jamieson” 15 July 2019 • Paterson: “Paterson Aeromagnetic Survey Identifies New Targets” 8 July 2019 • Jamieson: “Gold Zone Extended With Latest Results From Hill 800” 27 May 2019 • Paterson: “Major Geophysical Program to Commence in Paterson” 6 May 2019 • Jamieson: “New Drill Holes Confirm High Grade at Hill 800” 3 May 2019 • Various: “Quarterly Activities Report For The Period Ended 31 March 2019” 29 April 2019 • Jamieson: “High Grade Gold-Copper Zone Extended at Hill 800” 1 April 2019 • Paterson: “Six New High Priority Prospects in the Paterson Province” 19 February 2019 • Jamieson : “New Gold Zone Discovered at Hill 800” 5 February 2019 • Jamieson : “Second Round of Diamond Drilling Underway at Hill 800” 28 November 2018 • Oakover: “Encouraging Drill Results from Western Star” 23 November 2018 • Paterson: “Major Tenement Holding Granted in Paterson Province” 14 November 2018 • Jamieson : “Strong Finish to Maiden Drilling Program at Hill 800” 20 August 2018 • Jamieson : “Latest Results Increase Strike Potential at Hill 800” 6 August 2018 • Jamieson : “Record High-Grade Gold Intersection from Hill 800” 10 July 2018 • Jamieson : “New High Grade Gold-Copper Zone at Hill 800” 25 June 2018 • Jamieson: “Exceptional First Results from Hill 800 Drilling” 7 June 2018 • Oakover: “New Cobalt Targets Identified in Eastern Pilbara” 26-Mar-18 • IPO Prospectus: “Carawine Resources Prospectus” 12-Dec-17

Copies of these are available from the ASX Announcements page of the Company’s website: www.carawine.com.au The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant 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 relevant original market announcements.

This document may not be reproduced, redistributed or passed on, directly or indirectly without the consent of the Company. By receiving the Presentation Materials, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer.

The contents of the Presentation Materials reflect various technical and economic conditions at the time of writing. Given the nature of the resources industry, these conditions can change significantly over relatively short periods of time due to factors outside the control of the Company and its directors, staff and consultants. Consequently, actual performance may vary from those contained in this document.

Some statements in the Presentation Materials regarding estimates or future events are forward-looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward-

looking statements include, but are not limited to, statements preceded by words such as “planned”, “expected”, “projected”, “estimated”, “may”, “scheduled”, “intends”, “anticipates”, “believes”, “potential”, "predict", "foresee", "proposed", "aim", "target", "opportunity", “could”, “nominal”, “conceptual” and similar

expressions. Forward-looking statements, opinions and estimates included in this report are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward-looking statements may be affected by a range of variables that could cause actual results to differ from estimated results, and may cause the Company’s actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward-looking statements. So there can be no assurance that actual outcomes will not materially differ from these forward-looking statements.

The Presentation Materials are for information purposes only and do not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. The Presentation Materials and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. The Presentation Materials contain summary information about the Company and its activities which is current as at the date of the Presentation Materials. The information in the Presentation Materials is of a general nature and does not purport to contain all the information which a prospective investor may require in evaluating a possible investment in the Company or that would be required in a prospectus or product disclosure statement or other offering document prepared in accordance with the requirements of Australian law or the laws of any other jurisdiction, including the United States of America. The Company does not undertake to provide any additional or updated information whether as a result of new information, future events or results or otherwise.

The Presentation Materials are not investment or financial product advice (nor tax, accounting or legal advice) and are not intended to be used for the basis of making an investment decision. Recipients should obtain their own advice before making any investment decision.

Carawine and its directors, employees and consultants make no representations or warranty as to the accuracy, reliability or completeness of the Presentation Materials, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded.

16 July 2019 3

Jamieson • Northeastern Victoria gold and base metals • VHMS camp with +1Moz potential, underexplored • Outstanding results from diamond drilling at Hill 800

92.7m @ 3.22g/t Au from 2.3m (H8DD006) 43m @ 4.24g/t Au, 0.3% Cu (H8DD002) Main zone: 170m along strike, 175m down dip, average 35m width, open

• First Mineral Resource estimate due H2 2019

Paterson • Paterson Province WA gold and base metals • Large, strategic tenement holding • Recent large gold and copper discoveries by Rio Tinto (Winu)

and Greatland Gold (Havieron) • Major geophysical program to deliver drill targets for

testing in H2 2019

Oakover • Eastern Pilbara WA manganese, iron, cobalt, copper • One of few junior-held world-class manganese provinces

in Australia • Significant low-impurity, high grade iron potential

Fraser Range • Southeast WA nickel, copper and cobalt • JV with Independence Group (ASX:IGO), IGO 51% earning to 70%

GOLD, COPPER, BASE METALS - PROJECTS

For details relating to Exploration Results refer to the most recent ASX announcements for each Project as listed under the Compliance Statement on page 2.

16 July 2019 4

EXPERIENCED AND SUCCESSFUL TEAM

Will Burbury Non-Executive Chairman

David Boyd Managing Director

Bruce McQuitty Non-Executive Director

David Archer Non-Executive Director

Michael Cawood Exploration Manager

Geologist with over 25 years experience in the mining industry. Previously Exploration Manager for Sheffield Resources and executive of Consolidated Minerals managing exploration and resource development. Senior exploration roles with major gold mining houses RGC/Goldfields, Placer Dome and Barrick, involved in a number of gold discoveries including Raleigh and Homestead underground mines in WA.

Corporate lawyer prior to entering the mining industry in 2003. Actively involved in the identification and financing of many Australian and African resources projects. Chairman of Sheffield Resources since 2010, previously Chairman of Warwick Resources and former director of Lucapa Diamond Company Ltd.

Geologist with over 30 years experience in the mining industry. Managing Director of Sheffield Resources from 2010-2015 and Warwick Resources from 2007-2009. Prior to that was exploration manager-manganese for Consolidated Minerals, and held senior positions with RGC and Gympie Gold.

Geologist with around 30 years experience in the Australian resources sector. Technical Director of Sheffield Resources since 2010. Senior positions with major Australian mining companies, including RGC and Goldfields.

Geologist with over 25 years experience in the mining industry working for a number of Australian and international resources companies, including RGC, Western Metals, Gindalbie Gold and Teck. Explored for gold, copper and base metal deposits across a variety of geological settings, successful in Teck’s Carapateena IOCG campaign, Project Generation and Evaluation throughout the Asia-Pacific.

16 July 2019 5

CORPORATE SNAPSHOT

ASX CODE ISSUED

SHARES1

SHARE

OPTIONS2

SHARE

PRICE

MARKET

CAP. CASH

(at 31/03/19)

ENTERPRISE

VALUE

TOP 20

HOLDERS

CWX 55.8M 11.3M $0.10 $5.8M $2.0M $3.8M 41%

Top 20:

Ilwella Pty Ltd

CVC Limited

Other top 20

Directors & Management

7.6% 6.5%

5.9%

21%

59%

All figures as at 11-Jul-19 unless stated otherwise. 1 includes 2.3M shares escrowed to December 2019. 2 average exercise price $0.30 – does not include 1.9M Performance Rights

6

Jamieson Project - High Grade High Value Targets VICTORIA

Historic goldfield in northeastern Victoria VHMS / epithermal mineralisation • Au-rich polymetallic deposits • Cambrian-aged volcanics analogous to Mt Read volcanics in

western Tasmania • Similarities with the Henty gold and Hellyer lead-zinc-silver-gold

deposits

Advanced targets • Hill 800 gold deposit • Rhyolite Creek prospect

16 July 2019

For details relating to Exploration Results refer to previous ASX announcements as listed under the Compliance Statement on page 2.

7

Hill 800 Gold Deposit JAMIESON PROJECT VICTORIA

16 July 2019

For details relating to Exploration Results refer ASX announcement 27 May 2019

Long section, looking west Cross section, looking north

J-J’

200m 50m

8

Hill 800 Gold Deposit JAMIESON PROJECT VICTORIA

16 July 2019

Outstanding assay results, multiple intersections > 100 gram x metres

Intense silica-sericite-pyrite alteration system, enveloping gold and copper in quartz-pyrite-chalcopyrite-stringer veins

Two Mineralised Zones • Surface “800” Zone, blankets hill, high grade:

34m @ 3.84g/t Au from 0m, incl. 23m @ 5.06g/t Au (H8DD017) • “Main” Zone, moderate dip towards the west and open

93m @ 3.22g/t Au from 2.3m, incl. 31m @ 6.64g/t Au (H8DD006) 43m @ 4.24g/t Au, 0.3% Cu from 177m, incl. 5m @ 24.1g/t Au (H8DD004)

Gold dominant VHMS / epithermal hybrid • 1.5Moz Henty Mine analogue • Similarities in age, setting, alteration and mineral system • Geochemical and spatial evidence for magmatic input / underlying intrusive source

For details relating to Exploration Results refer ASX announcement 27 May 2019

9

Rhyolite Creek Prospect JAMIESON PROJECT VICTORIA

16 July 2019

Magnetic High

TMI Magnetic image

5km south of Hill 800

Zinc-rich “classic” VMS target • 8m @ 3.7% Zn, 0.3% Pb, 0.1% Cu, 1.6g/t Au and 29g/t Ag from

220m (RCD001) incl. 1.4m @ 15.6% Zn, 7.4g/t Au, 113g/t Ag from 223m

• Above: 59m @ 0.5% Zn from 228m (RCD001)

Gold-copper porphyry / epithermal system • +0.1g/t gold in soil anomalism over 500m x 500m • 37m @ 0.44g/t Au, 0.2% Cu, 44g/t Ag from 67.5m (RCK003) • Sparse, shallow drilling to date

For details relating to Exploration Results refer ASX announcement 15 July 2019

RCD001 1.4m@15.6% Zn, 0.5%Cu, 7.4g/t

Au, 113g/t Ag

RC045 6m@2.12g/t Au

RCK003 37m@0.44g/t Au, 0.2%

Cu, 44g/t Ag

0.1g/t Au soil anomaly over 500m x 500m

RCK002 13.5m@1.01g/t Au

16 July 2019 10

• Strong spatial correlation of regional magnetic highs and mineralisation

• Anomalies too strong to be explained by unaltered, primary host rocks

• Zoned multi-element geochemical anomalies around magnetic highs at Hill 800 and Rhyolite Creek areas

• Several additional prospects generated around each centre at Hill 800 & Rhyolite Creek

• Bigger picture targeting large scale mineralisation associated with underlying sub-volcanic intrusives

Hill 800 & Rhyolite Creek are Parts of Larger Mineral Systems JAMIESON PROJECT VICTORIA

For details relating to Exploration Results refer ASX announcement 15 July 2019

11

Paterson Project - WA’s Hottest Exploration Province Right Now WESTERN AUSTRALIA

16 July 2019

For details relating to Exploration Results refer ASX announcement 8 July 2019

Large strategic tenement holding Shallow cover • Less than 150m

Highly prospective tenements • Nifty & Telfer host rocks • Domal structures • Intrusive centres • Geophysical anomalies

High priority prospects identified Exploration underway • Major airborne and ground geophysical program in

progress • Drill target definition, drilling H2 2019

12

Recent History and Regional Exploration Successes PATERSON PROJECT WESTERN AUSTRALIA

16 July 2019

13

Baton Tenements PATERSON PROJECT WESTERN AUSTRALIA

16 July 2019

Compelling bullseye magnetic anomalies from detailed aeromagnetic survey • Gold-copper mineralisation targeted • Exploration model based other discoveries in the Region including

Winu and Havieron • Relatively shallow depths (75m to 225m) • Skarn style, intrusion-related targets • IOCG potential Gravity survey in progress, defining targets for drill testing H2 2019

For details relating to Exploration Results refer ASX announcement 8 July 2019

RTP magnetic image

14

Red Dog Tenements PATERSON PROJECT WESTERN AUSTRALIA

16 July 2019

Four prospects identified from historic work • Bullseye magnetic anomalies • Intrusion-related mineralisation • Anomalous Cu and Zn in drilling • Similar host rocks to Nifty, Telfer and Winu VTEM™ Max geophysical survey complete • High power, low-level helicopter borne electromagnetic

survey • Proven method, similar system associated with recent

Winu discovery • Data being processed, results July 2019

Earl

Duke

Bravo

Leatherneck

BMD1 (BHP) 3.2m@0.15% Cu

KH083 2m@1,750ppm Zn

377ppm Cu

KH092 10m@2,292ppm Zn

653ppm Pb

KH103 2m@542ppm Cu

375ppm Co

For details relating to Exploration Results refer ASX announcement 19 February 2019, 6 May 2019 & 15 July 2019

RTP magnetic image

16 July 2019 15

EXPLORATION TIMETABLE

Q3 2019 Paterson: Baton aeromagnetic results Paterson: Red Dog heli-EM survey results Paterson: Baton gravity survey results Paterson: Drill targets Jamieson: Hill 800 Mineral Resource

Q4 2019 Paterson: Drilling results Jamieson: Hill 800, Rhyolite Creek drilling H1 2020 Paterson: Drilling results Jamieson: Drilling results Jamieson: Large scale target evaluation

Targeted geophysics, program planning

May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

Hill 800 Mineral Resource

Paterson Drilling

Hill 800

Jamieson Program Results

Drilling Hill 800, Rhyolite Creek Jamieson

Paterson Program Results

Jamieson

16 July 2019 16

QUALITY ASSETS SET FOR GROWTH

Jamieson • One of few advanced gold exploration projects in the hands of a Junior

explorer • High-grade, near-surface gold deposit at Hill 800 • Continuous mineralisation, open at depth, clear target for growth • Rhyolite Creek: zinc VMS & epithermal gold and copper targets • Large scale underlying intrusive-related mineral system at play Paterson • Greenfields exploration on quality tenements in an exciting region

• Compelling prospects within easy reach of surface

• Excellent results from first programs

16 July 2019 17

THANK YOU

For further details, please contact:

David Boyd

Managing Director

Tel: +61 8 6319 0400

info@carawine.com.au

www.carawine.com.au

Follow us:

@CarawineASX

carawineresources

16 July 2019 18

APPENDIX

19

Oakover Project WESTERN AUSTRALIA

16 July 2019

• Large 100% owned tenement holding • One of the few remaining world-class manganese

provinces in Australia held by a junior explorer • Significant strike length of Marra Mamba iron host

formation • Surface cobalt-manganese mineralisation up to 0.4%

cobalt and 31.4% manganese • Recently granted tenements on the eastern edge of

the Paterson Province

For details refer to Carawine’s March 2019 Quarterly Activities Report dated 29 April 2019

20

Fraser Range Project WESTERN AUSTRALIA

16 July 2019

For details refer to Carawine’s March 2019 Quarterly Activities Report dated 29 April 2019. Prospect locations sourced from public reports.

• Increase in regional discoveries recently by Legend (ASX:LEG), Galileo (ASX:GAL) and Independence Group (ASX:IGO)

Fraser Range JV - Independence Group 51%, Earning to 70% with $5M Spend

• IGO searching for the next Nova

• Regional airborne EM surveys and aircore drilling have identified targets at Red Bull, Big Bullocks and Similkameen

• Carawine retains significant exposure to any discovery

Carawine 100%

• Big Bang tenement application

• South of Legend Mining’s (ASX:LEG) Area D: nickel copper sulphide in drilling at their Rockford Project and northeast along strike from Rumble Resources (ASX:RTR) and Independence’s (ASX:IGO) Thunderstorm gold discovery

21

Hill 800 Deposit – Henty Mineral System Analogue JAMIESON PROJECT VICTORIA

16 July 2019

• Extensive mineralisation • Area explored at Hill 800 to date is equivalent in

area to that of the Henty Sill Zone • Hybrid VHMS model

1

GRUYERE GOLD MELBOURNE MINING CLUB – JULY 2019

DUNCAN GIBBS

MANAGING DIRECTOR & CEO

2

Nature of this document: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available at www.goldroad.com.au or www.asx.com.

Not an offer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

Not financial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products.

Forward-looking statements: Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance and results in future periods to differ materially from any express or implied estimates or projections.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently

verified by the Company.

DISCLAIMER IMPORTANT NOTICES

3

CORPORATE PROFILE

Tim Netscher Non-Executive Chairman

Duncan Gibbs Managing Director & CEO

Justin Osborne Executive Director – Exploration & Growth

Sharon Warburton Non-Executive Director

Brian Levet Non-Executive Director

Hayden Bartrop Joint Company Secretary

Carol Marinkovich Joint Company Secretary

BOARD OF DIRECTORS

CAPITAL STRUCTURE

SHAREHOLDERS

HEDGING

FINANCE FACILITIES

(UNDRAWN of $150M)

CASH &

EQUIVALENTS

MARKET CAP

PERFORMANCE

RIGHTS

ISSUED

SHARES 877M1

7.5M1

A$1,070M2 $US720M

A$49M1 US$34M

A$117M1 US$82M

130 koz @ A$1,836/oz3 US$1,285

[CELLRANGE]

[PERCENTAGE]

[CELLRANGE]

[CELLRANGE]

[CELLRANGE]

[CELLRANGE]

[CELLRANGE]

North America

Retail

Australian Instos

Corporate

UK & European Instos

Board & Management

Asian & Rest of World

BlackRock 11%

Gold Fields Ltd 10%

Sun Valley Gold 8%

1 As at 31 March 2019 2 As at 11 July 2019, based on last close price of A$1.22 per share 3 As at 11 July 2019

FX: 1AUD = USD0.70 SUBSTANTIAL

ANALYST RESEARCH

Argonaut

Bell Potter

Canaccord

Haywood

Macquarie

Numis

RBC

4

Australia’s Newest Gold Producer – Fully Funded

50:50 JV partner Gold Fields a proven global miner

Long life, low cost production at Tier 1 gold mine1

First gold produced

Successful Explorer in Underexplored Belts

Extensive (~6,000 km2) and prospective Yamarna exploration tenements (Gold Road 100%)

UNLOCKING VALUE FOR SHAREHOLDERS

1Tier 1: greater than 10 year mine life; greater than 300,000 ounces per annum; greater than 3.5 million ounce Ore Reserve and costs at the lower end of the cost curve

GRUYERE JV

5

GRUYERE

DISCOVERY

MAIDEN

RESOURCE

NATIVE

TITLE

MAIDEN

RESERVE

GRUYERE

JV

FIRST GOLD

JUNE QTR

CONSTRUCTION

COMMENCED

PFS

FS

MINING

COMMENCED

THE SHARE PRICE JOURNEY

6

GRUYERE THE STATS

150KILOMETRES

PIPING

320KILOMETRES

ELECTRICAL CABLE

22,000CUBIC METRES

CONCRETE

3,350,000MANHOURS

TO DATE

2,700TONNES

STRUCTURAL STEEL

7

Grinding Area

Leach & CIL Tanks

Crushing Area

EARLY EARTH WORKS

NOVEMBER 2017

8

Grinding Area

Tailings Storage Facility

Leach & CIL Tanks Pre-Leach Thickener

Foundation Powerhouse

1 Refer to ASX announcement dated 28 April 2018

CONSTRUCTION PROGRESS

44% COMPLETE1

NOV 2018

9

CONSTRUCTION PROGRESS

JUNE 2019

10

11

GRUYERE

GOLD June 2019

12

13

SUSTAINABILITY

BUILDING GRUYERE

SAFELY

> 3 million manhours LTI free

Total Recordable Injury Frequency Rate 3.4

SUPPORTING OUR

COMMUNITY

We have a strong relationship with the Yilka people on whose land we work

Providing employment opportunities and community support for our traditional owners

CARING FOR THE

ENVIRONMENT

Constructed in compliance with International Cyanide Management Code

Tailings Dam, low risk life of mine design

14

GRUYERE GOLD MINE

* 100% basis, refer to ASX announcement dated 6 December 2018

15

GRUYERE 2018 MINE PLAN

Lifting Gruyere production to 300,000oz pa Capital intensity per ounce unchanged

0

50

100

150

200

250

300

350

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

AIS

C (

A$

/oz)

- G

old

pri

ce (

A$

/oz)

Pro

du

ctio

n O

un

ces

(‘0

00

)

Gruyere (oz) Golden Hwy (oz) AISC (A$/oz) Gold price (A$/oz)

Refer to ASX announcement dated 6 December 2018

16

RESOURCES & RESERVES

Ore Reserve +5% to 3.92 Moz (100% basis)1

Gruyere grade increased to 1.25 g/t Au

Golden Highway Ore Reserve

Increased to 70% to 310,000oz

130,000oz addition to the 2018 Mine Plan

2019 focus for Resource growth on 100% ground

DECEMBER 2018 UPDATE

Resource & Reserve Category

(100% basis)

Tonnes

(Mt)

Grade (g/t

Au)

Moz Au

Mineral Resource (M,I,I) 155 1.32 6.61

Ore Reserve (P,P) 97 1.25 3.92

1Refer to ASX announcement dated 13 February 2019 2Refer to ASX announcement dated 7 November 2016 3Offset by Gruyere Mineral Resource decrease by 1.7% to 139.56 Mt at 1.29 g/t Au for 5.78 Moz due to changes to the geology model and estimation methodology.

17

GRUYERE RESERVE EXTENSION DRILLING

Lifting Gruyere production >300,000oz pa

Optimise plant throughput

Increase mining rate and optimise pit design

Geotechnical review for steeper pit walls

Grow Golden Highway Ore Reserves

>2 Moz Inferred

Resource available

for conversion within

A$1,850 shell

18

YAMARNA

DISCOVERY

2,840 HOLES DRILLED

2018

147,00

0 METRES DRILLED

2018

20M EXPLORATION BUDGET

2019

19

EXPLORATION 2019 PRIORITY EXPLORATION AREAS

Targeting >1 Moz discoveries on 100% ground

Over 150 targets now defined in Project Pipeline

Southern Project Area ~75% of 2019 budget

Bloodwood priority bedrock test

Hopwood priority geochemical reconnaissance

One of Australia’s largest greenfields gold exploration budgets ~$20M

Bloodwood

Gilmour-Morello

Pebble Beach

Hopwood

Brahman

Yaffler South

Gruyere

20

SOUTHERN PROJECT AREA

GILMOUR

10 km

Note: Refer to ASX announcement dated 30 January and 28 May 2019

21

High-grade shear zone at southern end of 14 km Wanderrie Supergroup Trend

Highly continuous quartz vein with abundant coarse gold

SOUTHERN PROJECT AREA

GILMOUR

Note: Refer to ASX announcement dated 30 January and 28 May 2019

22

Multiple advanced projects

Gilmour

4 m at 19.61 g/t Au

8 m at 7.11 g/t Au

5 m at 12.52 g/t Au

1.8 m at 29.68 g/t Au

0.62 m at 117.78 g/t Au

Smokebush

Yaffler South – drilling in progress

Hopwood – next to be tested

Yaffler South

SOUTHERN PROJECT

AREA

Note: Refer to ASX announcements dated 30 January 2019, 19 December 2018 and 19 November 2018

Hopwood

23

GRUYERE GOLD MELBOURNE MINING CLUB – JULY 2019

DUNCAN GIBBS

MANAGING DIRECTOR & CEO