Investor PresentationA Clear Strategy to Production August 2020

Disclaimer

This important notice and disclaimer applies to this presentation and any informationprovided in relation to or in connection with the information contained in it.

This presentation contains information in summary form. Some of the information isbased on publicly available sources, has not been independently verified or may not becomplete. It should be read in conjunction with the Company’s other continuous andperiodic disclosure announcements lodged with Australian Securities Exchange, whichare available at www.asx.com.au.

This presentation contains forward-looking statements which involve a number of risksand uncertainties. These statements reflect current expectations, intentions orstrategies regarding the future and assumptions based on currently availableinformation. Should one or more of the risks or uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may vary from the expectations,intentions and strategies described in this presentation.

No representation or warranty is made as to the accuracy, completeness, reliability,fairness or correctness of the information contained in this presentation. To themaximum extent permitted by law, no person, including the company and their relatedbodies corporate, officers, employees and representatives (including agents andadvisors), accept any liability or responsibility for loss arising from the use of suchinformation.

This presentation is not a bidder’s statement, prospectus or a product disclosurestatement under the Corporations Act 2001 (Cth) or offering document under any otherlaw. It has not been lodged with the Australian Securities and InvestmentsCommission. This presentation is for information purposes only and is not financialproduct or investment advice or intended to be used as a basis for making aninvestment decision. It has been prepared without taking into account the investmentobjectives, financial circumstances, taxation position or particular needs of investors.

This presentation does not constitute an offer to issue or sell, or to arrange to sell, securities orother financial products. In particular, this presentation and the information contained in it does notconstitute a solicitation, offer or invitation to buy, subscribe for or sell any security in the UnitedStates or to or for the account or benefit of any U.S. Person (as defined in Regulation S under theU.S. Securities Act of 1933, as amended (the US Securities Act)). The securities referred to in thispresentation as being offered or sold have not been, and will not be, registered under the USSecurities Act. Securities may not be offered or sold in the United States unless they have beenregistered under the US Securities Act or an exemption from registration is available.

The release, publication or distribution of this presentation in jurisdictions outside Australia may berestricted by law. Any failure to comply with such restrictions may constitute a violation ofapplicable securities laws.

The information in this report that relates to gold mineralisation in the Apui region in Brazil is basedon information compiled by Mr. Antonio de Castro, BSc (Hons), MAusIMM, CREA, who acts as BBX´sfull-time senior consulting geologist through the consultancy firm, ADC Geologia Ltda. Mr. de Castrohas sufficient experience which is relevant to the style of mineralisation and type of deposit underconsideration and to the activity which he is undertaking to qualify as a competent person asdefined in the “ 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Castro consents to thereport being issued in the form and context in which it appears.Various information in this presentation which relates to exploration results have been extractedfrom the following announcements:

Report titled: Gold extraction test from bulk samples recover gold buttons created 9 January 2018. Report titled: Exploration update created 14 March 2018.Report titled: Exploration update created 30 April 2018. Report titled: Exploration update created 14 June 2018. Report titled: Exploration update created 20 August 2018. Report titled: Exploration update created 1 October 2018. Report titled: Exploration update created 26 November 2018..

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An emerging Brazilian explorer and developer well supported by key shareholders, directors and management.

Code

Share Price

52WkLow/High

Shares on Issue

Options

Undiluted Market Cap.

CashBalance

EV

Top 20 Equity Control

Top Shareholders:

JP Morgan Nominees Australia Pty Ltd (Drake)

Directors & Management

BBX (ASX)

$0.14

$0.12-0.39

413.39M

8,200,000

$58.71M

$300k

$59M

82.12%

47.47%

10.69%

Corporate Overview

3

Board and Management Team

Strong, experienced board and management team with operational and corporate expertise, and a global presence.

Mike SchmulianNon-ExecutiveChairmanGeologyBrazil• Geologist with over 40 years mining and

exploration experience including 25 years in Brazil.• Previous COO of ASX listed Crusader Resources and

has held Senior Management and Executive positions with WMC, AngloGold Ashanti and Mundo Minerals.

Andre DouchaneCEO & ExecutiveDirectorMining Engineer, Tucson, AZ• Mining engineer with extensive experience over 40

years in North and South America, including COO, CEO and Chairman roles with a number of mid-tier and junior mining companies including Round Mt Gold, Battle Mt Gold, Franco-Nevada and North American Palladium.

JeffMcKenzieCFO & Executive Director ICorporate Finance NZ,Perth,Brazil

• Banker with 33 years experience working withANZ• Previous CEO of PISG Group Beijing owner and

operator of a 3mtpa steel mill and importer of10mtpa of iron ore.

• Over 20 years experience in resources/commodities including undertaking a JV with Vale inChina.

Antonio deCastroExplorationManagerGeologyBrazil• Over 30 years experience in the exploration of and

development of gold and base metals projects inBrazil.

• Acts as a consultant to several Canadian and Australian junior exploration companies.

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Edmar MedeirosTechnical Manager/ MS Chemical Engineering

Laboratory/processing Brazil• Engineer with 33 years experience including 24

years with Anglo American.• Responsible for developing several extraction

processes.

EMA & TRÊS ESTADOS• 3 Exploration Licences - 27,045 ha• Trial mining licence approved for Ema - 50,000 tpa.• Tres Estados to be approved shortly – 50,000 tpa• IPAAM (Environmental) licence approved • Drilling Licence approved March 2018 for 3 years• Au, Ag, Pt and Pd

JUMAEAST• 3 Exploration Licences approved - 10,014 ha• Au, Ag, Pt and Pd

BBX Portfolio

Apui Region - 37,059 hectares

Manaus

Brasilia

SãoPaulo

Brasilia

SãoPaulo

Manaus

APUI

5BBX owns 100% of these projects

BBX Overview

• Apui region underexplored with good infrastructure

• 1864 metres and 37 holes drilled at Tres Estados and Ema

• Extremely high grade gold and PGM mineralization

‐ Weathered and unweathered dolerite and quartz-porphyry

‐ Near surface to 46 meters

‐ Significant mineralisation in all holes tested

• No evidence to suggest structural controls such as veins and shear zones

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BBX results strongly justify the construction of a pilot plant and further drilling (3000m) in 2020.

The Investment Case for BBX: An Extremely High Value Opportunity

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Highest Extraction Grades (minimum 2m intervals)

g/t Ozs/t

GOLD 216 6.7

SILVER 2172 70.2

PALLADIUM 35.23 1.14

PLATINUM 10.25 0.33

BBX grades far exceed those obtained elsewhere from similar styles of complex mineralisation

High Recoveries Require Extraction Using Non-Traditional Techniques

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• BBX has developed a proprietary solution to the issue of recovering high levels of precious metals from this style of mineralisation, also encountered in Canada (Alberta), USA (Colorado, Utah, Alaska), Russia, and Australia

• BBX has unique advantages in solving the technical challenges‒ Highly mineralized rock‒ Experienced team‒ Use of academic/industry consultants‒ Evolving development of a conceptual model and technical solution

BBX has a real opportunity to be first to an effective solution.

Why Does The BBX Process Work?

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• BBX addresses this complex style of mineralization by

‒ Unlocking the minerals that contain gold, silver, and PGMs‒ Using a combination of fire reduction, precipitation and electrowinning‒ Using selective catalysts to recover specific metals

BBX technology has the potential to evolve into a multi-billion dollar opportunity

Ore Crush GrindLeaching tank for

Pd/Ag –TJ800/MW2

Filter Dryer

Mixer

Filter

Furnace450C4hs

Leaching tank for Ir, Rh, Au

Filter

Electrolysis for Rh and Au

Electrolysis for Au

Furnace

Electrolysis for Ag, Pd

Filter

Anodic mud

Precipitate silica

Dryer

1

3

2

solid

liquid

4

liquid

solid

liquid

silica

Conditioning tank -

reductionMixer

solids+flux

Schematic pilot plant flowsheet

Next Steps

BBX pilot plant operation potentially offers significant potential revenue in 2020/2021

H22019 H12020 H22020 H12021

Process Development

Exploration

Licencing

Pilot Plant Design

Procurement/Construction

Trial Mining

Plant Operation

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Pilot Plant Timeline

Contact Details

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Australia

50 Angove Steet

Perth WA Australia

6003

T +618 65552955

F +618 62101153

www.bbxminerals.com

Brazil

Av. Jornalista Ricardo Marinho 360

Ed. Cosmopolitan – Sala 113 CEP

22631-350

Barra de Tijuca, Rio de Janerio

T +55 21 2439 5700

Andre J. Douchane, CEO adouchane@bbxminerals.com+1 5208507529 USA

Michael Schmulian, Chairmanmischmulian@bbxminerals.com+55 21 98878 0282 BRA

Jeff McKenzie, CFOJeff.mckenzie@bbxminerals.com+64 22 3421271 NZL

Appendix

14

TRES ESTADOS

PROJECT

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TRÊS ESTADOS – Key Results

*complete results in mediareleases

TRÊS ESTADOS RC Hole Selected Extraction Results*:

• Pyrometallurgical testing conducted on intervals of

>5kg recovered sample.

• Every hole tested is stronglymineralized.

• All principal surface outcrops sampled and tested, including Tabocal,

4km west ofAdelar.

Indicative Trial Mining Area

• TERC-002 46-48m: 56.27g/tAu

• TERC-003 6-8m: 169.72g/tAu

• TERC-005 24-26m: 72.14g/tAu

• TERC-006 12-14m: 48.66g/tAu

• TERC-007 32-34m: 216.16g/t Au I 882.4g/tAg

• TERC-008 6-8m: 39.86g/tAu

• TERC-009 27-28m: 36.55g/tAu

TRIAL MINING APPLICATION

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TRES ESTADOS RC Drilling Cross-Section B

17

B’

B

No value represents no testing

TRES ESTADOS RC Drilling Cross-Section C

18

No value represents notesting

C’

C

No value represents no testing

TRÊS ESTADOS – Key Results

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All Drillholes And Surface Samples Tested In Dolerite Gave Positive

Results

Multi km Strike Potential

Tabocal:Surface sampling returned high grade mineralisation

4km from drilled areas

PROJECT

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EMA

EMA – Key Results

21*complete results in mediareleases

EMA Diamond Drill Hole Selected Extraction Results*:

• Principal mafic outcrop area sampled and metallurgicallytested.

• Three diamond drill holes in felsics in a region of old workings

metallurgically tested (intervals>5kg).

• Confirm near surface mineralisation insaprolite.

• Significant platinum group metal (PGM) values.

• EMD-008 10-14m: 18.34g/tAu

7.28g/tPd

• EMD-010 4-8m: 17.36g/tAu

3.03g/tPd

• EMD-011 2-6m: 79.78g/tAu

534.4g/tAg

35.23g/tPd

10.25g/tPt

Granted Trial Mining Area

Brazil has a transparent user-friendly mining code, low sovereign risk

Mining CodeMining CodeMining Code

• Exploration licences are granted for 3 years, renewable for a further 2 or 3 years• A trial mining licence may be granted during the exploration phase to enable the holder to test his

process• For gold, maximum annual tonnage allowable under this phase is 50,000 t

• Licence fees are approx. US$ 0.83/hectare during initial period and increasing to USD1.25/hectare during second period

• After completion of the second period the holder can apply for a full mining licence • Environmental approval (including EIS) takes approximately 2 years• Mines dept (ANM) approval requires a simple study (PAE) showing the economic viability of the project • Initial approval of the project concept (LP) is followed by the installation licence (LI), enabling

construction to begin, and the operating licence (LO) after project completion• No annual fees are payable after the exploration phase

• State royalties for gold are 2% of gross revenue and 1% payable to the land owner

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• Population: 20,000 in 2017• Bradesco and Banco do Brasil banks• Hospital & schools• Main activity is farming• Three weekly commercial flights to Manaus in Bandeirante and

Caravan aircraft.

• Access to Manaus is also by boat from NovoAripuana, 280km from Apui by road

• Connected by road (the Transamazonic) to Porto Velho (600km)in Rondonia state and Itaituba (700km) in Para state.

Community – Apui Town

Apui Town

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