Corporate Presentation UK Investor Show l 29 March 2019
DIS ISCLAIM IMER 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 24 to 28) 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
ALB LBA SN 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 0.26p* Symbol ALBA Market Cap £8.5mil * At 26/02/2019 3
ALBA’S OPERATIONS Our principal operations span the UK, Ireland and Greenland Mining Clogau: Gold Thule: Ilmenite Amitsoq: Graphite Inglefield: Polymetallic Greenland Melville Bay: Iron Ore Limerick: Base Metals Oil & Gas Horse Hill Brockham 4
SIG IGNIFIC ICANT GREENLAND PORTFOLIO IO Mining A strong portfolio of Greenlandic mining assets in high-value commodities Thule: Ilmenite (TiO 2 ) High-grade deposit in new world-class ilmenite province Amitsoq: Graphite Former high-grade graphite mine Inglefield: Polymetallic Numerous targets in strategic resources Melville Bay: Iron Ore Existing JORC resource 5
GREENLAND: : OVERVIE IEW Mining A mining-friendly jurisdiction with a number of advanced mining projects Supportive authorities committed to resource extraction Established local mining economy: logistics, training, services World-class deposits 6
THULE BLACK SANDS (T (TBS) Mining High-grade ilmenite on the coastline of north-west Greenland Mineral sands rich in ilmenite, primary source of titanium dioxide Very high THM content: 46.7% av. Very high in-situ ilmenite content: 10% av. Close to Dundas Project (101Mt @ 7.1% ilmenite) Alba Licence 2017/29 7
THULE BLACK SANDS (T (TBS) Mining Titanium Dioxide (TiO2) Pigments Titanium Other Uses Inks Principal feedstock Used as an alloy in: for pigment Fibres production for: Rubber Aerospace Paints Food Military Coatings Cosmetics Industrial Plastics Pharmaceuticals “Global TiO2 Market expected to reach $28.5 billion by 2025” Grand View Research Nov 2017 8
TBS: IN INFRASTRUCTURE Mining Existing local infrastructure to support exploration and exploitation Deep-water port Thule Air Base Qaanaaq Domestic Airport Multiple sheltered bays for infrastructure locations TBS location shown by blue circle 9
TBS: 2017 FIE IELD WORK Mining All samples taken have been confirmed as ilmenite-bearing Extensive areas of sedimentary deposition Testwork confirms high- grade THM and in-situ ilmenite content Aerial photography: digital Raised Beach terrain model completed Terraces 10
TBS: 2018 FIE IELD WORK Mining Extensive mapping and drilling 10km total mineralised strike length 3 tonnes of bulk samples taken Independent Competent Person site visit First year’s environmental baseline studies High-Grade Raised Terrace Mineralisation Drilling locations (shaded rectangles) Raised Beach Terraces Active beach & raised terraces (left); bulk sampling (right) 11
AMIT ITSOQ: HIG IGH-GRADE GRAPHIT ITE Mining An exceptionally high-grade graphite deposit and former mine Former Amitsoq graphite mine: up to ~28% TGC New mainland discovery (Kalaaq): ~25% TGC Met. testwork: marketable grade concentrate (~97%) Existing infrastructure, ice-free waters Drill ready 12
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