Okvau Gold Project, Cambodia ASX:EMR ASX:EMR Emerald to Become - PowerPoint PPT Presentation

Okvau Gold Project, Cambodia ASX:EMR ASX:EMR Emerald to Become +100,000ozpa Gold Producer Investor Presentation January 2020

Presentation Disclaimer Forward Looking Statement This announcement contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”’ “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This announcement has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules. All material assumptions on which the forecast financial information is based have been included in this announcement. The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement. All material assumptions underpinning the production target or the forecast financial information continue to apply and have not materially changed. 100% of the production target referred to in the 1 May 2017 announcement is based on Probable Ore Reserves. Emerald has a highly experienced management team, undoubtedly one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively. They are a team of highly competent mining engineers and geologists who have overseen the successful development of gold projects in developing countries such as the Bonikro Gold Project in Cote d’Ivoire for Equigold NL and more recently, Regis Resources Ltd. The Company believes it has a reasonable basis to expect to be able to fund and develop the Okvau Gold Project for the reason set out above and in this announcement. However, there is no certainty that the Company can raise funding when required. Competent Persons Statements The information in this report that relates to Exploration and Grade Control Results is based on information compiled by Mr Keith King, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Keith King has sufficient experience which is relevant to the style of mineralisation and type of deposits 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’. Mr Keith King has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. The information in this report that relates to the Mineral Resources for the Okvau Gold Deposit was prepared by EGRM Consulting Pty Ltd, Mr Brett Gossage, who is a consultant to the Company, who is a Member of the Australasian Institute of Mining & Metallurgy (AIG), and has sufficient experience 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 by the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Gossage has reviewed the contents of this news release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. Information in this announcement that relates to Ore Reserves for the Okvau Gold Deposit is based on, and fairly represents, information and supporting documentation prepared by Mr Glenn Williamson, an independent specialist mining consultant. Mr Williamson is a Fellow of the Australasian Institute of Mining & Metallurgy. Mr Williamson 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 (or “CP”) as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Williamson has reviewed the contents of this news release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears. ASX: EMR | www.emeraldresources.com.au 2

Emerald a Short History  November 2016 - Merger with Renaissance Minerals Limited;  May 2017 - Okvau Definitive Feasibility announced; and  May 2017 - Maiden Ore Reserve of 14.3Mt @ 2.0g/t Au for 907,000oz.  July 2017 - Expansion of its ground holdings in Cambodia (400km² - 1,400km²);  November 2017 - Okvau Project received Environmental Approval for development;  July 2018 - Mining Licence Granted for Okvau Gold Project;  November 2018 - BOD underpin A$12.2 million of a successful A$28 million share placement;  January 2019 - Commenced construction activities;  July 2019 - Signed Debt Term Sheet for US$60 million and US$100 million Acquisition and Development Facility and:- - Discovery of a high grade feeder zone to Okvau, including:-  8m @ 19.98g/t Au;  15m @ 11.92g/t Au. Refer to Company’s ASX release dated 2 July 2019 for full results.  December 2019/January 2020 – Approval and fully executed Mineral Investment Agreement (MIA). Reference is made to the Company’s ASX release dated 1 May 2017 titled Okvau DFS Delivers Ore Reserve of 907,000oz and ASX release dated 26 November 2019. All material assumptions underpinning the production target or the forecast financial information continue to apply and have not materially changed. ASX: EMR | www.emeraldresources.com.au 3

Board & Management Capital Structure Simon Lee AO, Non-Executive Chairman  Previously Chairman: Equigold NL, Samantha Gold NL, and Great ASX Code EMR Victoria Gold NL;  Previously Board Member of the Australian Trade Commission and Patron Share Price 4.0 cents¹ of the Western Australian Chinese Chamber of Commerce. Shares on Issue (current) 3.05B Morgan Hart, Managing Director  Previously Executive Director (Operations) of Regis Resources Ltd; Options on Issue 66M²  Previously Executive Director of Equigold NL. Market Cap (undiluted) A$122M Mick Evans, Executive Director  Previously Chief Development Officer with Regis Resources Ltd (managed the construction of gold plants at the Moolart Well, Garden Well and Rosemont);  Previously with Equigold NL (instrumental in the construction of the Shareholder Structure Bonikro gold plant in Cote D’Ivoire). Ross Stanley, Non-Executive Director  Extensive experience both in Australian and African mining enterprises; Institutional Retail & High Net  Founder and majority shareholder of Stanley Mining Services; Worth Investors Investors  Previously Non-Executive Director of Equigold NL . 20% 45% Ross Williams, Non-Executive Director  Founding shareholder and Director of MACA Limited (mining & civil contractor);  16 years banking experience having held executive positions with a major Australian Bank. Mark Clements, Company Secretary  20 years experience in corporate finance, capital raisings, accounting & administration, ASX Compliance and regulatory requirements; Directors &  Fellow of the Institute of Chartered Accountants and a member of both the Management Australian Institute of Company Directors and Governance Institute of 35% Australia. Bernie Cleary, Operations Manager 1 Share Price as at 2 January 2020. 2 Options comprise management and employee options ranging between 0.025 cents and 0.057 cents .  25 years experience in the construction and resource industries;  Previously General Manager with Evolution Mining Limited of the Mount Rawdon gold mine;  Previously General Manager with Regis Resources Limited of the Rosemont and Garden Well gold mines. ASX: EMR | www.emeraldresources.com.au 4