Corporate Presentation Mining Capital Conference, London 29 November 2018 l
DISCLAIMER This presentation is made on behalf of Alba Mineral Resources PLC (“the Company”) . This presentation does not constitute an admission document relating to the Company nor does it constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation of any such offer to purchase or subscribe for, any securities in the Company nor shall this presentation or any part of it, or the fact of its distribution form the basis of or be relied on in connection with, any contract therefor. No reliance may be placed by any person for any purpose whatsoever on the information or opinions contained in this presentation or on the completeness, accuracy or fairness thereof. No representation or warranty, express or implied, is given by or on behalf of the Company, its shareholders, directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this presentation, and no liability is accepted for any such information or opinions (including in the case of negligence, but excluding any liability for fraud). This presentation does not constitute a recommendation regarding any decision to sell or buy securities in the Company. If any person is in doubt as to the contents of this presentation, or wishes to obtain advice as to the investment merits of the Company’s securities, he should seek independent advice from a person who is an authorised financial services provider. All statements (other than statements of historical fact) included within this presentation, including without limitation, the strategies, plans, expectations and objectives of the Company, and the markets and economies in which it operates, are forward-looking statements. A variety of factors could cause the actual results and expectation to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. These statements are illustrative only and do not amount to any representation that they will be achieved as they involved risks and uncertainties and relate to events and depend upon circumstances which may or may not occur in the future and there can be no guarantee of future performance. Without prejudice to the generality of the foregoing, forward-looking statements in this presentation may include (but are not limited to) reserve and resource estimates and targets and production rates which involve an assessment, based on certain estimates and assumptions, by the companies in which the Company has invested or the operators of projects in which the Company has invested (together “investee companies”) . There are numerous uncertainties inherent in estimating quantities of reserves and resources and in projecting future rates and volumes of production and the timing and quantum of development expenditures. The total amount, rate or timing of actual future production may vary from reserve, resource and production estimates, projections and targets. Those forward- looking statements represent the internal projections, estimates or beliefs of those investee companies and their advisers and have not been independently verified by the Company. This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, any jurisdiction where such distribution or offer is unlawful. The distribution of this presentation in some jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions. 1
COMPETENT PERSONS/FOOTNOTES Competent Person’s Statement (Mining) The information contained in this presentation in relation to the Company’s mining projects has been reviewed and approved by Howard Baker, Technical Director of Alba Mineral Resources Plc. Mr Baker is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (Membership Number 224239) and a Competent Person as defined by the rules of International Reporting Codes that are aligned with CRIRSCO. Mr Baker has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration targets, Exploration Results, Mineral Resources and Ore Reserves’, also known as the JORC Code. The JORC code is a national reporting organisation that is aligned with CRIRSCO. Competent Person’s Statement (Oil & Gas) The technical information contained in this presentation in relation to the Company’s oil & gas investments has been reviewed and approved by Feroz Sultan (B.Sc (Hons) Geology, M.Sc, Petroleum and Structural Geology, Karachi and M.Sc Petroleum Geology, Imperial College London), a petroleum geologist with over 45 years' experience in the management, exploration, development and production of oil and gas. Footnotes to Oil & Gas Slides (Slides 25 to 30) Footnote 1 Estimated OIP hydrocarbon volumes should not be construed as recoverable resources or reserves and also should not be construed in any way to reflect potential producibility of hydrocarbons from the formations evaluated. Footnote 2 There can be no guarantee that forecast, targeted or calculated rates of production or oil recoveries will be achieved. Actual rates of production and recoveries will depend upon actual reservoir performance over time. Footnote 3 Forecast potential HH-1 vertical rate per preliminary analysis by HHDL’s consultants Xodus Group ("Xodus") of flow and pressure data indicating that, subject to successful further HH-1 Portland vertical well optimisation, the well is capable of achieving a forecast initial 24/7 pumped rate of an estimated 362 barrels of oil ("bopd"). 2
OUR STRATEGY A portfolio of strategic assets and investments in stable, low-risk jurisdictions to create a compelling investment opportunity ❑ Diversification : mining assets and oil & gas investments ❑ Production : projects with serious production potential ❑ Stability : low-risk, natural resources-friendly jurisdictions Market AIM Share Price 0.35p* Symbol ALBA Market Cap £11.4mil** *12 Nov 2018 **Includes placing shares due 3 for admission on 26 Nov 2018
WHY ALBA? In the mining sector, Alba has identified and secured: Majority stakes in high-grade projects: ❑ Amitsoq: exceptionally high grade (+28% TGC) ❑ Clogau: high/bonanza grade producer (10s-100s oz/t gold) ❑ Thule Black Sands: high-grade ilmenite (up to 14.9%) Brownfield sites with considerable exploration upside: ❑ Amitsoq: previously producing mine plus new discovery ❑ Clogau: previous producer within unexplored gold belt Strategic positions in highly prospective regions: ❑ Limerick: in centre of major zinc province ❑ Inglefield: identified copper porphyry potential ❑ Thule Black Sands: foothold in emerging ilmenite province 4
WHY ALBA? In the oil & gas sector, Alba has built significant minority positions in key strategic UK oil assets ❑ 2 nd largest holder in Operator of Horse Hill Oil Discovery ❑ Direct licence holder in the Brockham Oil Field Alba’s investors thereby have exposure to: ❑ High quality strategic mining assets with serious production potential ❑ High quality strategic oil assets in the fast-developing UK onshore oil sector – near-term production 5
ALBA’S BOARD OF DIRECTORS Experienced Board and management team with strong track records in both the mining and oil & gas sectors ❑ Over 25 years’ experience in natural George Frangeskides Executive Chairman resources, corporate advisory & legal sectors ❑ Extensive network of contacts across the mineral exploration and investment sectors Mike Nott ❑ Geologist and mining engineer with over 40 Non-Executive years’ experience Director Manuel Lamboley ❑ Over 30 years' experience in international Non-Executive broking and investment banking Director 6
ALBA’S MANAGEMENT & TECHNICAL TEAM Howard Baker ❑ Geologist with over 20 years’ experience Technical Director ❑ Previously worked for Rio Tinto, BHP Billiton, Iluka (Mining) Resources, WMC and Anaconda Nickel ❑ Petroleum geologist with over 40 years of diverse Feroz Sultan experience Technical Director (Oil & Gas) ❑ Has managed both onshore and offshore oil and gas field developments ❑ Geologist and Geoscientist with 40 years' industry Sue Corrigan Technical Adviser experience (Oil & Gas) ❑ Six years at Tullow Oil plc, also worked for Shell and Amoco ❑ Chartered Accountant with over 10 years’ Sarah Potter Head of Finance experience in Industry ❑ Previously worked at Jaguar Land Rover, CBRE, and Anglo American (Tarmac) 7 3
ALBA’S OPERATIONS Our principal operations span the UK, Ireland and Greenland Oil & Gas Horse Hill Brockham Mining Greenland Clogau: Gold Thule: Ilmenite Amitsoq: Graphite Inglefield: Polymetallic Melville Bay: Iron Ore Limerick: Base Metals 8
CLOGAU GOLD PROJECT Mining 90% owner of Clogau Project, including Clogau- St David’s gold mine ❑ Historic Clogau-St David’s gold mine produced 80,000 oz (known) ❑ Excellent potential for unworked veins ❑ Bonanza grades (10 ’s to 100 ’s oz/t Au) ❑ Over 300 known gold occurrences covering most of Dolgellau Gold Belt ❑ Welsh gold attracts significant premium ❑ Unique connection to UK Royal family 9
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