COUFLENS PROJECT IN FRANCE www.apollominerals.com February 2019 - PowerPoint PPT Presentation

DEVELOPING THE COUFLENS PROJECT IN FRANCE www.apollominerals.com February 2019 ASX | AON

IMPORTANT NOTICES Forward Look Fo oking ing Statements: Cautio iona nary y Statements & Impor portant Informatio ion: n: Com ompe petent Persons ns Statement The information in this presentation that relates to Exploration Results is extracted from announcements dated 21 August 2017, 3 October 2017, 29 November 2017, 5 February This presentation may include forward-looking This presentation has been prepared by Apollo as a summary only, and does 2018, 27 March 2018 and 4 February 2019. These announcements are available to view statements. These forward-looking statements are based not contain all information about Apollo’s assets and liabilities, financial onwww.apollominerals.com. on Apollo Minerals Limited’s (Apollo) expectations and position and performance, profits and losses, prospects, and the rights and beliefs concerning future events. Forward looking liabilities attaching to Apollo’s securities. Any investment in Apollo should be statements are necessarily subject to risks, uncertainties considered speculative and there is no guarantee that they will make a return The information in the announcements that related to Exploration Results between 2017 and other factors, many of which are outside the control on capital invested, that dividends would be paid, or that there will be an and 2018 were based on, and fairly represents, information compiled by Mr Robert of Apollo, which could cause actual results to differ increase in the value of the investment in the future. Behets, a Competent Person who is a Fellow of The Australasian Institute of Mining and materially from such statements. Apollo makes no Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Behets is a Apollo does not purport to give financial or investment advice. No account undertaking to subsequently update or revise the holder of shares, options and performance rights in, and is a director of, Apollo Minerals has been taken of the objectives, financial situation or needs of any recipient forward-looking statements made in this announcement, Limited. Mr Behets has sufficient experience which is relevant to the style of of this presentation. Recipients of this presentation should carefully consider to reflect the circumstances or events after the date of mineralisation and type of deposit under consideration and to the activity which he is whether the securities issued by Apollo are an appropriate investment for that announcement. undertaking to qualify as a Competent Person as defined in the 2012 Edition of the them in light of their personal circumstances, including their financial and ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore taxation position. Reserves’ . The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s Referenc nces findings are presented have not been materially modified from the original market announcements. 1. Fonteilles M., Soler P., Demange M., & Derré C., 1989; The information that relates to Exploration Results from the announcement on 4 “The Scheelite Skarn Deposit of Salau (Ariège, French February 2019 is based on information compiled by Mr Andrew Boyd of Cairn Consulting Pyrenees)”, Economic Geology, Vol 84, pp 1172 – 1209 Limited, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Boyd is a holder of shares, options and performance rights in, and is a key consultant of, Apollo Minerals Limited. Mr Boyd has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. 2

INVE NVESTM TMENT SUMMARY INVESTMENT HIGHLIGHTS High Hi gh gr grad ade tun ungsten Gold old ups upsid ide potential Demonstr trated Mine High grade gold recorded in 930kt ore @ 1.5% 2.0 to 2.5% WO 3 Veronique zone & in rock in the mine’s latter years 11,500t WO 3 in conc. samples from recent field campaigns Mine operated for 16 years (up to 24.5 g/t) Extensive database Signif ific icant exp xplo loratio ion Str tron ong pi pipelin line Prov oven Boar oard pot potentia ial of f cataly lysts & & & ma & management ne news flow low Deposit open down plunge Strong track record Well funded for aggressive Numerous regional targets In-country experience & work programs specific expertise 3

PROVEN MANAGEMENT TEAM WITH STRONG GOLD EXPERIENCE BOARD OF DIRECTORS Ian Middlem emas ↘ Chairman Hugo Schumann ↘ Executive Director Hug ugo Schumann Yves es Gui Guise se Rob ober ert t Be Behets ts Mic ichel el Bo Bonn nnemais ison on Rob ober ert t Behets ts Engineer from the Ecole Central de Lille Over a decade of experience in the Geologist with over 25 years mining French geologist with extensive ↘ Non-Executive Director with over 45 years of experience in development of mining and energy industry experience; Strong experience in Europe, Africa and health and safety management. Was projects globally across a range of combination of technical, commercial South America. 35 years working responsible for the creation of the commodities. Most recently as CCO of Michel el Bon onnemaison on and managerial skills. Founding MD of history with the French geological Department of Health and Safety during Berkeley Energia in Spain where he Mantra Resources, ex Acting MD/NED survey (BRGM) including Deputy Head his time as Technical Director at BRGM oversaw the successful US$120m of Papillon Resources. Prior to Mantra, of Minerals Resources Division. ↘ Non-Executive Director and oversaw the work carried out at the financing package for the mine he held various senior management Widely recognised as one of the three coal basins at Charbonnage de construction. MBA from INSEAD, CFA positions during a long career with preeminent authorities on gold France. Mark rk Pea Pearce Charterholder. WMC Resources Limited. deposits in France. ↘ Non-Executive Director CAPITAL STRUCTURE Ajay Kejriwal Shares on Issue ue 168.0m Ma Market t Cap p (at A$0.13) A$21.0m ↘ Non-Executive Director Unlisted Un d Vend ndor r Mi Milestone ne shares 65.0m Cash Positi ition (at 31 December r 18) A$2.9m 4 / Incentiv tive Op Option tions and Perf rform rmanc nce rights ts 13.1m Major Ma r shareho holde ders BlackRock, Old Mutual

DEVELOPING THE COUFLENS TUNGSTEN AND GOLD PROJECT IN SOUTHERN FRANCE Project includes the historical Salau Mine which was one of the highest grade tungsten mines globally and COUFLENS remains open at depth PROJECT Salau Mine operated for more than 15 years and closed in 1986 when tungsten prices were significantly lower than today Potential to reopen the mine and aggressively explore significant in-mine and regional tungsten and gold targets 5

THE HIGH GRADE SALAU MINE SALAU MINE PRODUCED: COMPARATIVE GRADES (%WO3) 1.50 ▪ 930,000t ore at 1.5% WO 3 for OF GLOBAL TUNGSTEN MINES AND PROJECTS* 11,50 11, 500t t WO 3 in concentrate ▪ Grade of up to 2. 2.5% 5% WO 3 in the latter years ▪ Mine closed when tungsten prices fell in 1986 from 0.90 Chinese dumping Significant gol old valu lues recorded in high grade Veronique zone which is 0.49 largely untapped and open at depth 0.34 0.29 0.28 0.28 0.26 0.23 0.23 0.21 HIGH GRADE VERONIQUE 0.19 0.14 0.14 0.09 STYLE TUNGSTEN SCHEELITE 6 / * Source: public company documents ** Based on historical grades

EXCELLENT UNDERGROUND CONDITIONS Current Historical Photo Mine e access ccess Mine e de develop opmen ent dr drive e on n 1230 30 level on on 1230 30 level 7 /

SIGNIFICANT TIME AND COST SAVINGS Extensive database of historical information available ✓ New archive obtained in 2019 includes gold reports ✓ Assay data from over 1,000 historical drill holes ✓ Results from in-mine programs include: ✓ Production records, mining and processing methods ▪ Up to 1.9m ✓ Processing flow sheet for tungsten concentrate 9m at 16 g/t gold from channel sampling ▪ Up to 8.5m ✓ Mine level plans and geological mapping 5m at 3.4 4 g/t gol old diamond drilling 8 /

IN-MINE EXPLORATION UPSIDE HIGH GRADE VERONIQUE ZONE OPEN AT DEPTH 1 HIGH GRADE GOLD VALUES RECORDED HIGH GH GR GRADE VERONIQUE Historical holes OP OPEN DOWN Planned holes PLUNGE 9 /

NEAR MINE TARGETS ON GRANODIORITE CONTACT MULTIPLE LARGE SCALE TUNGSTEN AND GOLD TARGETS ON FLANKS OF 2 GRANODIORITE ONLY ~ 25% OF GRANODIORITE CONTACT TESTED 10 /