De-Risked Projects Strongly Undervalued P E T E R R E E V E E X - PowerPoint PPT Presentation

AEE; ASX AURA; AIM De-Risked Projects Strongly Undervalued P E T E R R E E V E E X E C U T I V E C H A I R M A N 1 R I U C o n f e r e n c e S e p t e m b e r 2 0 1 9

AURA ENERGY ASSET BASE  Completed Definitive Feasibility Study on the Fully Permitted Tiris Uranium Project  Häggån Vanadium Project Scoping Study Imminent Release  Exceptional Gold, Base and Battery Metals Exploration Tenements AEE; ASX 2

AURA’S INVESTMENT PROPOSITION  Two de-risked projects in good commodities – rare in a junior  Uranium and Vanadium  Gold, base and battery metals exploration – Kalgoorlie Comparison  Aura - strongly undervalued: WHI Research A$72m vs A$10m Current  Near term cashflow from Tiris as uranium price recovers  Vanadium and gold spin-offs/IPO’s will add direct value to Aura shares 3

TIRIS URANIUM SHALLOW TRENCHING R E V E A L S M I N E R A L I S AT I O N W AT E R D R I L L I N G S U C C E S S S H A L L O W U R A N I U M M I N E R A L I S AT I O N F R E E D I G G I N G M I N I N G , N O D R I L L A N D B L A S T P E R M I T T I N G I N A R E M O T E D E S E R T R E G I O N C A L C R E T E D E P O S I T W I T H C A R N O T I T E U R A N I U M I N A W E A T H E R E D G R A N I T E H O S T 4 4

TIRIS URANIUM PROJECT Operating Stats & Financials  Definitive Feasibility Study:  Fully Permitted for development  Initial production 1 million lbs p.a. M A U R I TA N I A  Capex US$63 million / C1 Opex US$25.40/lb U ₃ O ₈  Key to low cash costs are : • Shallow Mining - 5 metres max • Ore Upgrades – 500% • Recovery - 94% • Expansion cases studied to 3 Mlbs pa • Uranium offtake concluded • Vanadium production potential in Tiris • Low-cost Export Credit Agency finance underway • Total After Tax cash flow -----------A$413 million • Ave Annual After Tax cash flow – A$27.4 million 5

AURA’S TIRIS PEER COMPARISON Aura……….. DFS 29/7/2019 Ban’man…..DFS 10/4/2012 Vimy…………DFS 30/1/2018 Peninsula….DFS 17/9/2018 Berkeley……DFS 14/7/2016 6 Aura Energy Limited sources information on its peer group from entities that have released to the ASX definitive feasibility studies and the outcomes of the peer group’s DFS can be found at each entity’s website as well as on the ASX platform.

PFS PEER COMPARISON Boss – PFS 31/5/2017 Toro – PFS 16/1/2014 7 Aura Energy Limited sources information on its peer group from entities that have released to the ASX Pre feasibility studies and the outcomes of the peer group’s DFS can be found at each entity’s website as well as on the ASX platform.

Häggån Vanadium AURA’S INVESTMENT PROPOSITION Project - Sweden 8

HÄGGÅN VANADIUM  15.1 billion lb Global Vanadium Resource  High-Grade Vanadium Resource (HGV) defined  HGV within 20 metres of surface and to 100 m depth  Extensive study on completed on project  Scoping Study release imminent  Produce High Purity Vanadium Pentoxide (V 2 O 5 ) suitable for battery use  V 2 O 5 demand from energy storage & steel quality  Vanadium Redox Flow Batteries used for large scale energy storage - grid-scale solutions  Aura to spin out Vanadis Battery Metals AB  Swedish Government most progressive in world in driving the Green Metal transition 9

GLOBAL ENERGY STORAGE  “Predicted global growth of energy storage between 2016 and 2030” (Bloomberg Energy Finance) 10

HÄGGÅN VANADIUM IPO - VANADIS BATTERY METALS  Aura intends to IPO Vanadis as a separate listing  Maximise value to Aura shareholders and focus work in Sweden Current Structure Post-IPO Aura Aura New New Aura Aura ASX: AEE ASX: AEE AIM:AURA Energy Energy AIM:AURA Energy Energy Shareholders Shareholders 100% 70-80% 20-30% Vanadis Vanadis Vanadis Vanadis Battery Battery Battery Battery AIM (or) Metals AB Metals AB TSXV Metals AB Metals AB 100% 100% Häggån Häggån Häggån Häggån Project Project Project Project 11

AURA GOLD, BASE & BATTERY METALS IN MAURITANIA  Exceptional gold, base & battery metal properties  Close to Kinross’ 20 Moz Tasiast Deposit  Same geology as Kalgoorlie without the crowds  105 km under-explored virgin Archean greenstone belt  Kalgoorlie region is proof these deposits repeat  $3m previous expenditure  Exploration results from first pass were excellent  Wide gold system – similar to Tasiast  High grade gold intersections  1.6 km high grade nickel zone  Cobalt hits up to 0.581% Cobalt (See ASX announcement, dated 3 April 2019)  Aura exploring gold IPO or spin out to a shell  Further value to Aura shareholders 12

TASIAST SOUTH GOLD & BASE METALS 13 See ASX Announcement 3 April 2019

TASIAST SOUTH VERSUS KALGOORLIE REGION 14

TASIAST NICKEL & COBALT RESULTS  Best cobalt (Co) drilling intercepts in;  Very strong Nickel values over entire 1.6 km drill line  1 metre at 0.58% Co  Cobalt tested only 1 in 10 samples  4 metre at 0.48% Co   Strongest magnetics (white zones) not tested 1 metre at 0.46% Co Nickel intersections at Bella. Red dots: RC holes, yellow dots: vertical AC. All RC holes returned intersections of + 0.5% Ni. (Background image is total mag intensity RTP HG) See ASX Announcement dated 3 April 2019 15

Summary; • Excellent fully permitted Uranium Project at financing stage • Large & valuable vanadium project – Scoping study imminent • Exceptional gold, base and battery metal tenements • Two De-risked projects in a very under-valued company AEE; ASX P E T E R R E E V E E X E C U T I V E C H A I R M A N p r e e v e @ a u r a e e . c o m + 6 1 3 9 5 1 6 6 5 0 0 W e b s i t e : w w w. a u r a e n e r g y. c o m . a u / 16