Woomera Mining LimitedInvestor Presentation

June 2019

Woomera Mining Limited

Investor Presentation

June 2019

Important Notice

This Presentation

The information in this presentation (Presentation) has been prepared by Woomera Mining Limited (Company).

The mineral tenements of the Company as described in this Presentation (Tenements) are at various stages of exploration, and potential investors should understand that mineral

exploration and development are high risk undertakings. There can be no assurance that exploration of the Tenements, or any other tenements that may be acquired in the future, will

result in the discovery of economic ore deposits.

General Information Only

This Presentation provides general information to assist you with your own evaluation of the Company’s exploration assets. This Presentation is not, and is not intended to be, advice on

legal, financial, taxation or investment matters nor is it intended to be financial product advice from the Company or any of its directors, employees, agents or advisers.

No Recommendation

This Presentation is not intended to be and is not a recommendation from either the Company or its directors, employees, agents or advisers regarding the Company.

Competent persons statement

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Gerard Anderson, Managing Director of Woomera Mining Limited.

Mr Anderson is a Member of the Australasian Institute of Mining and Metallurgy who has over forty-two years experience in the field of activity being reported. Mr Anderson has sufficient

experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity 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’ relating to the reporting of Exploration Results. Mr

Anderson consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

Forward looking statements

The information in this presentation is published to inform you about Woomera Mining Limited and its activities. Some statements in this presentation regarding estimates or future events

are forward looking statements. Although Woomera Mining Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve

risks and uncertainties and no assurance can be given that actual results and outcomes will be consistent with these forward-looking statements.

Cautionary Statement and Further Disclosures About Mt Venn

➢ The Exploration Results for the Mt Venn Project have been reported by the former owner CAZ rather than the acquirer WML;

➢ The Exploration Results may not conform to the requirements in the JORC Code 2012;

➢ WML directs investors to the cautionary statement below about the reliability of the Exploration Results;

➢ WML at this time continues to evaluate the exploration work that needs to be completed to report the Exploration Results in accordance with the JORC Code 2012;

➢ The proposed timing of any evaluation and/or exploration work that WML intends to undertake is set out in the Exploration Timeline on slide 17 and WML intends to fund that work

from existing cash and the proposed capital raising;

➢ Mr Gerard Anderson, a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ states

that the information in this investor presentation concerning the Mt Venn Project is an accurate representation of the available data and studies for the project.

➢ WML makes the following cautionary statement about the Mt Venn Project:

▪ the Exploration Results have not been reported in accordance with the JORC Code 2012;

▪ a Competent Person has not done sufficient work to disclose the Exploration Results in accordance with the JORC Code 2012;

▪ it is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the

JORC Code 2012;

▪ that nothing has come to the attention of WML that causes it to question the accuracy or reliability of the former owner’s Exploration Results; but

▪ WML has not independently validated the former owner’s Exploration Results and therefore is not to be regarded as reporting, adopting or endorsing those results.

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Company Overview

Woomera Mining Ltd (ASX.WML) (“WML”) is a diversified mining exploration company. Woomera management have extensive experience in

identifying, developing and then monetising early-stage exploration assets.

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➢ Musgrave Alcurra-Tieyon Project

➢ Gawler Craton

➢ Labryinth

➢ Carulinia

➢ Nawa

➢ Lithium Brine Prospects

➢ Hard Rock Lithium Prospects

➢ Pilgangoora

➢ Mt Cattlin

➢ Cowan

➢ Recently executed a Binding Heads of Agreement to acquire 80% of the Mt

Venn Gold Project (“Mt Venn”) from Cazaly Resources Ltd (ASX:CAZ)

(“CAZ”)

Corporate Structure

Current share price* $0.035

Shares on Issue 112,704,433

Market Capitalisation $3.9m

Cash and cash equivalents (31-Mar-19) $1.1m

Debt -

Enterprise Value $2.9m

Board of Directors

Neville Martin Non-Exec. Chairman▪Former partner of Minter Ellison

corporate team

Gerard

AndersonManaging Director

▪Former MD of Archer, Centrex

Metals

David Lindh Non-Exec. Director▪Several former Chair roles of

ASX listed companies

Don Triggs Exec. Director▪Former General Manager of

Primary Resources Ltd

Joe Fekete Non-Exec Director▪ 20+ years experience in business

advisory / accounting

* Share Price as at 29 May 2019

Mt Venn Gold – Base Metal Project

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Binding Heads of Agreement

➢ WML 80% : CAZ 20% in joint venture

➢ Cash payment of A$900,000 comprising a deposit of A$20,000 paid on

execution of Heads of Agreement & balance of A$880,000 payable at

Completion

➢ Deferred cash payment of A$100,000 upon the ground covered by the

Expired Prospecting Licences being amalgamated into E38/3111

➢ The issue of 7,000,000 fully paid ordinary shares in WML at Completion

(to be subject to a voluntary escrow of 12 months from the date of issue

of the shares)

Mt Venn Gold Project

➢ Mt Venn belt associated with the Yamarna Shear, adjacent to Gold Road

Resources’ (ASX:GOR) (“GOR”) emerging world class Gruyere deposit

➢ Approximately 50km of strike in a greenstone belt in Western Australia

with little modern systematic exploration

✓ EXTENSIVE GROUND POSITION

✓ SEVERAL HIGH GRADE GOLD TARGETS

✓ “GRUYERE” LOOK ALIKE TARGETS

✓ SEVERAL EM NICKEL ANOMALIES

➢ Yamarna owns E38/3111 and E38/3150 and has applied for the

ground formerly covered by expired prospecting licences P38/4149,

P38/4050, P38/4151 and P38/4195 to be amalgamated into E38/3111

Mt Venn Greenstone Belt

Mt Venn – High Grade Gold Anomalies

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Mt Venn Gold Project Cont.

➢ Recent drilling conducted by CAZ at Three Bears intercepted gold

mineralisation of very wide zones up to 40m thick

➢ Mineralised zones included intercepts of 12m @ 1.19g/t Au,

40m @ 0.36g/t Au & 36m @ 0.47g/t Au1

➢ Several high-grade gold anomalies that have not been drilled:

▪ Chapman’s Reward: sampling from pit walls and dump

material by the State Prospecting Party (“SPP”) returned

assays up to 201g/t Au2

▪ Lang’s Find: rock chip samples conducted by SPP returned

assays up to 208g/t Au2

▪ Mount Cumming: rock chip sampling conducted by Elmina

between 1995 – 1997 returned 8.4g/t Au3

▪ Jutson Rocks: rock chip sampling conducted by Elmina

between 1995 – 1997 returned 20.5g/t Au3

Nickel-Copper & Platinum Group Element (“PGE”) Targets

➢ Tholeiitic basalts with concordant intrusions of pyroxenite, gabbro and

dolerite, known as the Mount Warren Sill and Mount Cornell Sill,

which comprise the Mount Cumming Mafic Complex

➢ In 2010-12 airborne geophysics (VTEM) by Global Nickel Investments

NL generated anomalies, followed up with ground EM surveys

➢ Soil and rock chip sampling define anomalous PGEs over a 5km

strike within the Mount Warren Sill. Soil sampling identified an

additional PGE anomaly within the Mount Cornell Sill

➢ These anomalies represent “walk up” drill targets for the project

High

grade

gold

anomalies

require

drill

testing

1Source: CAZ ASX releases 27 Feb 2017, 8 June 20172Source: The WA Department of Mines 1923 Annual Report3Source: WAMEX Report A064708

Mt Venn – Magnetics and Soils

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Mt Venn Gold Project - recent work

➢ Good regional geophysical & geochemical

databases generated by previous explorers –

solid base to work from

➢ Global Metals Exploration conducted regional

soil sampling and auger, RAB, Aircore and RC

drilling. Airborne magnetics & radiometrics and

airborne and ground EM

➢ Only two geochemical anomalies followed up

with shallow drilling (≤.50m)

➢ Great majority of widespread gold in soil/auger

anomalies remain untested

➢ CAZ instigated work in 2017 drilling some

specific gold and base metal targets

Detailed reassessment and analysis of existing data plus recent re-processing of geophysics by CAZ has highlighted key areas of

focus with district-scale gold targets generated

Gold in soils Magnetics

Mt Venn – Three Bears gold target

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Three Bears Gold Target

➢ Exploration defined a major, +5km corridor of coincident, soil, auger &

historic drilling anomalism at Three Bears

➢ CAZ drilled at Three Bears intersecting wide gold zones up to 40m

thick

➢ Mineralised zones included intercepts of 12m @ 1.19g/t Au, 40m

@ 0.36g/t Au & 36m @ 0.47g1

➢ Major mineralised structures appear to extend for multiple kilometres

➢ Only prospect in the Wartu Granite area to have been drilled to any

extent

➢ CAZ puts Three Bears in exactly the postulated ‘Gruyere’ position, no

drilling into fresh rock

1Source: CAZ ASX releases 27 Feb 2017, 8 June 2017

Mt Venn – Other Gold targets

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Chapman’s Reward - high grade drill target with visible gold that has never been drilled

➢ First discovery of gold reported in 1923 by the SPP discovery of several existing pits

➢ Numerous high-grade quartz veins up to 5m in width carrying fine visible gold

➢ Sampling from pit walls and dump material by the SPP returned assays up to 201g/t Au1

➢ From 1925, a total of 26.65 ounces of gold was recovered from 15.24 tonnes of ore at an average grade of 54.39 g/t

Lang’s Find - high grade drill target with visible gold

➢ Rock chip samples conducted by SPP returned assays up to 208g/t Au1

➢ Adjacent soil anomalies have never been drilled

Mount Cumming

➢ During 1995 to 1997 Elmina undertook rock chip sampling. All of these samples were associated with quartz veins in outcrop areas at Jutson

Rocks (20.5g/t and 15.8g/t)2 and Mount Cumming (8.4g/t Au, 3.2% Cu and 3g/t Ag)2

➢ During 1996, a regional soil sampling (1000m by 250m grid) was completed by Elmina which identified two large anomalous areas (Lang’s Find

and Mount Cumming) and several small anomalies

➢ Infill soil sampling the following year (500m by 100m grid) identified four main anomalous clusters, located at Lang’s Find, south-west of Mount

Cumming, west of Rutter’s Soak and east of Mount Scott

➢ Most of the gold assays occurred in the 3 to 20ppb range, with the highest value of 720ppb being located 250m east of the above rock chip sample

of 8.4g/t Au at Mount Cumming2

None of the adjacent geochemical soil anomalies to Mount Cumming have been drilled.

1Source: The WA Department of Mines 1923 Annual Report2Source: WAMEX Report A064708

Gold Road Resources Ltd (ASX:GOR) – The Gruyere Story

➢ Dorothy Hills Greenstone Belt – largely ignored until GOR

➢ Market Capitalisation in Sept 2009 prior to Central Bore discovery

drill program: ~$8.2m

➢ JV and Sale Agreement Gruyere Central Hub, 50 / 50 with Gold

Fields Ltd, December 2016: $250m cash, $100m construction

contribution

➢ GOR retains 100% of Northern and Central Hubs - still delivering

➢ Current market Capitalisation: ~$535m

➢ Predicted production from JV of 135koz PA, mine life 13 years. First

production 2Q19

➢ GOR conducted exploration drilling in 2018 of 165,000

➢ The Mt Venn Gold Project holds many similarities to the Gruyere

6m+ Oz. gold deposit:

✓ NARROW BELT

✓ FAVOURABLE HOST LITHOLOGIES

✓ LARGE INTERNAL GRANITES

✓ ‘INFLECTIONS’ ALONG KEY MAJOR SHEAR ZONES

The Gruyere Story

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1Source: https://www.goldroad.com.au/

Musgrave Alcurra-Tieyon Project

Musgrave Alcurra-Tieyon Project Tenements

10

TMI VRMI

VRMI shows remarkable fit

Musgrave Alcurra-Tieyon Project

➢ Four tenements covering 3,063km2 prospective for nickel, copper, cobalt,

gold, silver-lead-zinc, PGE and rare earths

➢ Recent discoveries in western Musgrave: Oz Minerals & Cassini

Resources Joint Venture Nebo-Babel (203Mt @ 0.41% Ni 0.42% Cu)

and Metals X Wingellina (187 Mt @ 1% Ni)

➢ Numerous anomalies identified from geophysics and government drilling

Giles Complex ultramafic / mafic intrusives with good potential for

magmatic Ni-Cu-Co deposits

➢ Rocks have highly variable magnetic signatures, primarily due to the

remanent components of the ultramafic / mafic intrusives. WML has

applied the VRMI transform to compensate for the remanence observed

in the TMI

➢ The below images using data from the 1994 CRAE survey show the TMI

on the left highlight large areas where there is a change to the apparent

susceptibility

➢ Fourier function is derived to fit the TMI surface so that the orthogonal

components of the TMI can be extracted at any point of the TMI surface

Musgrave Alcurra-Tieyon Project Cont.

➢ NTMA signed

➢ Ethnographic Survey completed in June 2018

➢ RC drilling at Gallagher, Healy and Walsh returned anomalous

nickel-copper-cobalt

Cavanagh Drill Target

➢ Strong remanent magnetism at Cavanagh

➢ The reverse dipole as observed in the TMI was investigated by

CRAE around 1995 with a single RC drill hole which returned

high assay values of Ni, Cr, Co, Cu and Pd

➢ Using 3D Inversion methods and VRMI filters WML has

modelled the magnetically susceptible body that causes the

dipole

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TMI Magnetic Dipole

Modelled body with CRAEdrill hole (~400m wide)

O’Mahony Drill Target

➢ EM identified several conductors

Musgrave Alcurra-Tieyon Project – Targets

WA - Based Lithium Tenements

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Pilgangoora area one of the World’s largest pegmatite-hosted lithium

provinces

Lithium Brine Prospects

➢ Tenements on lakes Cowan and Dundas that have been

identified by Geoscience Australia for their concentrations of

lithium in brine

Hard-Rock Lithium Prospects

➢ Pilbara tenements in the Pilgangoora province which hosts

several major hard rock lithium deposits

➢ Ravensthorpe tenements close to the Mt Cattlin lithium /

tantalum mine owned Galaxy Lithium Australia Ltd

➢ Cowan tenement close to Bald Hill lithium-tantalum mine

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Lithium map produced for E45/4790 and E45/4796 from field data collected

from work programs during November 2018 and March/April 2019.

Magenta representing the most anomalous areas.

Hard Rock Lithium - Pilgangoora

Pilgangoora Hard-Rock Lithium Prospects Work Plan

➢ On-ground Heritage Survey completed - 4 June 2019

➢ Submission of Work Plan - July 2019

➢ Tender RC drilling - July 2019

➢ RC drilling of 8 targets – August / September 2019

Mount Cattlin Tenements and Geology

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Cowan

➢ Locally, Archean granitic rocks are dominated by massive to

moderately foliated monzogranites

➢ Bald Hill lithium-tantalum mine located 15 kms east of E15/1562

has an Indicated and Inferred Mineral Resource of 18.9Mt at

1.18% Li2O and 149ppm Ta2O5 at a 0.5% Li2O cut-off 2

➢ Given the proximity to Bald Hill and abundance of pegmatite

dykes, WML considers there is good potential for pegmatite

hosted mineralisation

➢ In discussions with the Ngadju Native Title Corporation

Location of WML’s existing E15/1532 and the tenement

application E15/1652 relative to prospective geology

Hard Rock Lithium - Mount Cattlin & Cowan

Mt Cattlin

➢ In the same volcanic province that hosts the Mount Cattlin

spodumene mine owned by Galaxy Lithium Australia Ltd

➢ Mt Cattlin deposit 16Mt @ 1.08% Li2O and 149 ppm Ta2O51

➢ Cross cutting faults and shear zone similar to Mt Cattlin

➢ E74/599 and E75/632 mostly crop farms. Landowners visited

regarding soil sampling program once 2019 harvest gathered

1Source: Galaxy Resources Annual Report 20162Source: Tawana Resources Limited website

Gawler Craton

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Modelling outlined a large high density shell 1.2 km x 0.5 km NB previous

drill hole intersected trace chalcopyrite throughout the entire hole

Predicted body –

Magnetic

(Susceptibility (0.06 SI

units)

Predicted body –

Gravity

(density contrast 1.5)

Previous drill

hole

(303m))

Labyrinth – coincident magnetic and gravity anomaly

➢ CRAE drilling (1988) intersected a sequence of volcanics and

mafic / ultramafic rocks at 69 metres and intersected trace chalcopyrite

throughout the entire drill hole

Nawa – coincident magnetic and gravity anomaly

➢ Coincident magnetic and gravity anomalies tested by BHP in 1992

with drill hole CR9214 (264m)

➢ Intersected basement at 236m and terminated in Mount Woods

complex which hosts Prominent Hill - Pyritic gneiss 254 to 262m

(best assays 130ppm Cu, 26ppm Zn and 20ppm Pb

➢ Prospective for IOCG, BIF and gold deposits

Magnetic Anomaly Gravity Anomaly

Area circled in red highlights coincident magnetic and gravity

anomalies

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Carulinia Gravity Profile

Carapateena Gravity Profile

Carulinia – Coincident Magnetic gravity anomalies

➢ ~3km diameter 14 Mgal gravity anomaly

Carulinia – Exploration Targets

➢ Previous drilling has not explained the gravity or magnetic anomaly

➢ Lithologies intersected in previous drilling open to interpretation

➢ The centre of the gravity anomaly is 1km south of previous drillholes

➢ The magnetic source is clearly a complex body

➢ The gravity / magnetic anomaly appears to be truncated by a major

structure

➢ Possible drillhole locations for further exploration shown as

Gawler Craton

Exploration Timeline

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Exploration Timeline – Consistent News Flow

➢ WML’s exploration programs will deliver consistent news flow to shareholders

June 2019

▪Submission of Pilgangoora work plan

▪1st Draft of Mt Venn acquisition transaction documents

July 2019

▪Tender for Pilgangoora RC Drilling

August 2019

▪Complete Mt Venn acquisition

▪Commence Pilgangoora RC Drilling Program

September 2019

▪Complete Heritage Survey at Mt Venn

▪Commence drilling at Musgrave targets; Cavanagh & O’Mahony

October 2019

▪Commence drilling at Mt Venn

▪Receive Heritage clearance at Gawler Craton targets; Labryinth & Nawa

November 2019

▪Commence drilling at Labryinth & Nawa

Key Contacts

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Gerard Anderson Peter Taylor

Managing Director Investor Relations

Woomera Mining Ltd NWR Communications

gerard.anderson@woomeramining.com.au peter@nwrcommunications.com.au

+61 404 672 393 +61 412 036 231

Woomera Mining Ltd

Suite 116, 147 Pirie Street

Adelaide, SA 5000

www.woomex.com.au

Stuart McClure

smcclure@vested.com.au

+61 7 5655 5331

Mark Gwynne

markg@swcorp.com.au

+61 409 881 470

Rupert de Crespigny

rdecrespigny@harbury.com.au

+61 437 953 248