Corporate Presentation London South East Investor Briefing l 14 May 2019
DIS ISCLAIMER 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 26 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
ALBA SNAPSHOT ▪ Diversification Mining Assets and Oil & Gas Investments ▪ Stability Operating only in Low-Risk, Resources-Friendly Jurisdictions ▪ Thule Black Sands: Ilmenite : High-Grade ✓ Serious Production ▪ Amitsoq Graphite: High-Grade ✓ Potential ▪ Inglefield Polymetallic: High-Value Metals ✓ ▪ Clogau Gold: High-Grade Mine ✓ ▪ Limerick Base Metals : World-Class Ore Field ✓ ▪ Brockham : Near-Term Oil Production ✓ ▪ Horse Hill : Near-Term Oil Production ✓ Market AIM Share Price 0.24p* Symbol ALBA Market Cap £7.8mil * At 10/05/2019 3
ALBA’S OPERATIONS Our principal operations span the UK, Ireland and Greenland Greenland TBS: Ilmenite Inglefield: Polymetallic Melville Bay: Iron Ore Greenland Amitsoq: Graphite UK & Ireland Horse Hill: Oil Brockham Oil Limerick: Base Metals Clogau: Gold 4
CLOGAU GOLD PROJECT Mining Majority of Dolgellau Gold Belt under licence, including Clogau gold mine ▪ Clogau-St David’s gold mine: UK’s largest gold producer ▪ High grade pockets: bonanza grades running from 10 ’s to 100 ’s oz/t Au ▪ Over 300 known gold occurrences covering most of Dolgellau Gold Belt ▪ Welsh gold attracts significant premium over spot prices ▪ Unique connection to UK Royal family 5
CLOGAU: MIN INE REDEVELOPMENT Mining Objective (1): to re-open the high-grade Clogau- St David’s Gold Mine Cross-section of Clogau mine ▪ Free gold located in quartz veining ▪ Work underway: ▪ Baseline environmental studies ✓ ▪ Mine rehabilitation of Tyn Y Cornel Adit followed by Llechfraith Adit ✓ ▪ Pre-Application Enquiries commenced with planning authority ✓ 6
CLOGAU: REGIONAL EXPLORATION Mining Objective (2): to discover new gold deposits within Dolgellau Gold Belt 2018 field work: ▪ Gold anomalies found across full strike length of mine area ▪ New gold targets identified outside mine area 2019 regional exploration: ▪ Ambitious soil sampling programme to cover ~50% of 30km Dolgellau Gold Belt ▪ Objective: discover new gold deposit(s) and/or extensions to existing mine 7
CLOGAU: : 2018 EXPLORATION RESULTS Mining Left: Higher gold values located away from existing mine workings Magnetic Surveying Results (Total Magnetic Intensity) Soil Sampling Results Right: Magnetic survey defines extent of potential gold-bearing formations 8
CLOGAU: 2019 REGIO IONAL EXPLORATION Mining ▪ 2019 soil sampling area (in yellow) ▪ 2018 soil sampling area over existing mine (red lines) ▪ 2019 programme aims to cover ~50% of the ~30 km Dolgellau Gold Belt 9
CLOGAU: 2019 REGIO IONAL EXPLORATION Mining Away from existing mine area (not associated with historic mine workings) Results now obtained from 525 samples from ongoing 1,200 sample CLOGAU: programme Averaging 0.006-0.17 ppm (at a 0.005 ppm cut-off), 2019 including one sample at 0.65 ppm (0.65 g/t) REGIO IONAL Multiple gold-in-soil anomalies identified Two of new anomalies EXPLORATION well above average gold-in soil grades for Clogau-St David’s Anomalies identified across multiple geological units outside of traditional Clogau Shale target 10
CLOGAU: 2019 REGIO IONAL EXPLORATION Mining Preliminary target map Yellow areas: new anomalies (no historic mining) Red areas: anomalies over historic mining areas 11
CLOGAU: 2019 REGIO IONAL EXPLORATION Mining CLOGAU: 2019 GOLD-IN IN-SOIL Soil sampling results RE RESULTS set against the geology map and historic Clogau St David’s mine workings (dark blue).
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