Investor Presentation A Clear Strategy to Production January 2020 - PowerPoint PPT Presentation

Investor Presentation A Clear Strategy to Production January 2020

Disclaimer This presentation does not constitute an offer to issue or sell, or to arrange to sell, securities or This important notice and disclaimer applies to this presentation and any information other financial products. In particular, this presentation and the information contained in it does not provided in relation to or in connection with the information contained init. constitute a solicitation, offer or invitation to buy, subscribe for or sell any security in the United States or to or for the account or benefit of any U.S. Person (as defined in Regulation S under the This presentation contains information in summary form. Some of the information is U.S. Securities Act of 1933, as amended (the US Securities Act)). The securities referred to in this based on publicly available sources, has not been independently verified or may not be presentation as being offered or sold have not been, and will not be, registered under the US complete. It should be read in conjunction with the Company’s other continuous and Securities Act. Securities may not be offered or sold in the United States unless they have been periodic disclosure announcements lodged with Australian Securities Exchange, which registered under the US Securities Act or an exemption from registration is available. are available at www.asx.com.au. The release, publication or distribution of this presentation in jurisdictions outside Australia may be This presentation contains forward-looking statements which involve a number of risks restricted by law. Any failure to comply with such restrictions may constitute a violation of and uncertainties. These statements reflect current expectations, intentions or applicable securities laws. strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialize, or should The information in this report that relates to gold mineralisation in the Apui region in Brazil is based underlying assumptions prove incorrect, actual results may vary from the expectations, on information compiled by Mr. Antonio de Castro, BSc (Hons), MAusIMM, CREA, who acts as BBX ´ s intentions and strategies described in this presentation. full-time senior consulting geologist through the consultancy firm, ADC Geologia Ltda. Mr. de Castro has sufficient experience which is relevant to the style of mineralisation and type of deposit under No representation or warranty is made as to the accuracy, completeness, reliability, consideration and to the activity which he is undertaking to qualify as a competent person as fairness or correctness of the information contained in this presentation. To the defined in the “ 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for maximum extent permitted by law, no person, including the company and their related Reporting of Exploration Results, Mineral Resources and Ore Reserves” . Mr. Castro consents to the bodies corporate, officers, employees and representatives (including agents and report being issued in the form and context in which it appears. advisors), accept any liability or responsibility for loss arising from the use of such Various information in this presentation which relates to exploration results have been extracted information. from the following announcements: This presentation is not a bidder’s statement, prospectus or a product disclosure statement under the Corporations Act 2001 (Cth) or offering document under any other Report titled: Gold extraction test from bulk samples recover gold buttons created 9 January 2018. Report titled: Exploration update created 14 March 2018. law. It has not been lodged with the Australian Securities and Investments Report titled: Exploration update created 30 April 2018. Commission. This presentation is for information purposes only and is not financial Report titled: Exploration update created 14 June 2018. product or investment advice or intended to be used as a basis for making an Report titled: Exploration update created 20 August 2018. investment decision. It has been prepared without taking into account the investment Report titled: Exploration update created 1 October 2018. objectives, financial circumstances, taxation position or particular needs of investors. Report titled: Exploration update created 26 November 2018. . 2

Corporate Overview An emerging Brazilian explorer and developer well supported by key shareholders, directors and management. Code BBX(ASX) SharePrice $0.14 52WkLow/High $0.12-0.39 Shares onIssue 413.39M Options 8,200,000 Undiluted Market Cap. $58.71M CashBalance $300k EV $59M Top 20 EquityControl 82.12% Top Shareholders: JP Morgan Nominees Australia Pty Ltd (Drake) 47.47% Directors &Management 10.69% 3

Board and Management Team Strong, experienced board and management team with operational and corporate expertise, and a global presence. Andre Douchane MikeSchmulian JeffMcKenzie CEO & ExecutiveDirector Non-ExecutiveChairman CFO & Executive Director I Mining Engineer, Tucson, AZ GeologyBrazil Corporate Finance NZ,Perth,Brazil • Mining engineer with extensive experience over 40 • • Geologist with over 40 years mining and Banker with 33 years experience working withANZ years in North and South America, including COO, CEO • exploration experience including 25 years in Brazil. Previous CEO of PISG Group Beijing owner and and Chairman roles with a number of mid-tier and • Previous COO of ASX listed Crusader Resources and operator of a 3mtpa steel mill and importer of junior mining companies including Round Mt Gold, has held Senior Management and Executive 10mtpaof ironore. Battle Mt Gold, Franco-Nevada and North American • positions with WMC, AngloGold Ashanti and Mundo Over 20 years experience in resources/commodities Palladium. Minerals. including undertaking a JV with Vale inChina. Antonio deCastro Ediberto Brito ExplorationManager Company Chemist / Lab Manager GeologyBrazil Laboratory/processing Brazil • Over 30 years experience in the exploration of and • Previousexperience with BHP, WMC, Troy Resources development of gold and base metals projects in • Responsible for BBX’s laboratory and Brazil. metallurgical programme. • Acts as a consultant to several Canadian and • Has over 30 years experience in Chemist and Australian junior exploration companies. Lab Managerroles. 4

BBX Portfolio Manaus Manaus Apui Region - 37,059 hectares Brasilia Brasilia SãoPaulo SãoPaulo EMA & TRÊSESTADOS • 3 Exploration Licences - 27,045ha • Trial mining licence approved for Ema - 50,000 tpa . • Tres Estados to be approved shortly – 50,000 tpa • IPAAM (Environmental) licence approved • Drilling Licence approved March 2018 for 3 years • Au, Ag, Pt and Pd JUMAEAST APUI • 3 Exploration Licences approved - 10,014 ha • Au, Ag, Pt andPd BBX owns 100% of these projects 5

BBX Overview • Apui region underexplored with good infrastructure • 1864 metres and 37 holes drilled at Tres Estados and Ema • Extremely high grade gold and PGM mineralization ‐ Weathered and unweathered dolerite and quartz-porphyry ‐ Near surface to 46 meters ‐ Significant mineralisation in all holes tested • No evidence to suggest structural controls such as veins and shear zones BBX results strongly justify the construction of a pilot plant and further drilling (3000m) in 2020. 6

The Investment Case for BBX: An Extremely High Value Opportunity Highest Extraction Grades (minimum 2m intervals) g/t Ozs/t GOLD 216 6.7 SILVER 2172 70.2 PALLADIUM 35.23 1.14 PLATINUM 10.25 0.33 BBX grades far exceed those obtained elsewhere from similar styles of complex mineralisation 7

High Recoveries Require Extraction Using Non-Traditional Techniques • BBX has developed a proprietary solution to the issue of recovering high levels of precious metals from this style of mineralisation, also encountered in Canada (Alberta), USA (Colorado, Utah, Alaska), Russia, and Australia • BBX has unique advantages in solving the technical challenges ‒ Highly mineralized rock ‒ Experienced team ‒ Use of academic/industry consultants ‒ Evolving development of a conceptual model and technical solution BBX has a real opportunity to be first to an effective solution. 8

Why Does The BBX Process Work? • BBX addresses this complex style of mineralization by ‒ Unlocking the minerals that contain gold, silver, and PGMs ‒ Using a combination of fire reduction, precipitation and electrowinning ‒ Using selective catalysts to recover specific metals BBX technology has the potential to evolve into a multi-billion dollar opportunity 9

BBX Production Process: Use of Both Pyro and Hydrometallurgy DEWATER CONDITION DISOLUTION CRUSH GRIND WATER WATER FILTER TREATMENT SOLUTION SOLIDS PRECIPITATION SMELT ELECTROWIN RE-SMELT REFINE SOLIDS Ag, Pd Au, Pt RETURN TO SOLUTION GRIND 10

Next Steps Pilot Plant Timeline H12020 H22019 H22020 H12021 ProcessDevelopment Exploration Licencing Pilot PlantDesign Procurement/Construction TrialMining PlantOperation BBX pilot plant operation potentially offers significant potential revenue in 2020/2021 11