WALFORD CREEK: AUSTRALIA’S LARGEST COPPER -COBALT DEVELOPMENT PROJECT September 2018
IMPORTANT INFORMATION This document has been prepared by Aeon Metals Limited (Aeon) for the purpose of providing a comprehensive company and technical overview to interested analysts and investors. This document is not a prospectus and should not be considered an offer or an invitation to acquire shares in Aeon or any other financial product. Any statements, opinions, projections, forecasts or other material contained in this document (Information) is presented by Aeon for use only by the company or person to whom it is presented and do not constitute any commitments, representations or warranties by Aeon or its officers, agents, employees or associates. Except as required by law, no responsibility or liability is accepted by Aeon or any of its officers, employees, agents or associates, nor any other person, for the Information or for any action taken by the recipient or any of the recipient's officers, employees, agents or associates on the basis of the Information. Forward-looking statement, opinions and estimates provided in this Information are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward-looking statements include projections, guidance on future earnings and estimates and are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Past performance information given in this Information is given for illustrative purposes and should not be relied upon as (and is not) an indication of future performance. Aeon undertakes no obligation to revise the forward-looking statements included in this Information to reflect any future events or circumstances. The Information does not constitute investment, legal, accounting, regulatory, taxation or other advice and does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. Recipients of this document must make their own independent investigations, consideration and evaluation. By accepting this document, the recipient agrees that if it proceeds further with its investigations, consideration or investment evaluation , it shall make and rely solely upon its own investigations and enquiries, and will not in any way rely upon this document. COMPETENT PERSONS STATEMENT The data in this report that relates to Mineral Resource Estimates for the Walford Creek Deposit and Vardy Zone Deposit is based on information evaluated by Mr Simon Tear who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who 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 Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Tear is a Director of H&S Consultants Pty Ltd and he consents to the inclusion in the presentation of the Mineral Resources in the form and context in which they appear. The information in this report that relates to Exploration Targets and Exploration Results for the Walford Creek Deposit and Vardy Zone Deposit is based on information compiled Mr Dan Johnson who is a Member of the Australian Institute of Geoscientists and who 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 in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Dan Johnson is a full -time employee of Aeon Metals and consents to the inclusion in the presentation of the Exploration Targets and Exploration Results in the form and context in which they appear. 2 AEON METALS | ASX:AML
BOARD & MANAGEMENT TEAM AND CAPITAL STRUCTURE 586M SHARES A$15M OUTSTANDING A$0.365 A$214M A$12.7M 2 LIMITED SHARE PRICE 1 MARKET CAP 1 CASH RECOURSE 85M 3 VENDOR DEBT 4 VENDOR WARRANTS CHAIRMAN, PAUL HARRIS 25 years’ experience in financial markets and resources investment banking. Previously MD, Head of Metals and Mining Substantial Shareholders 1 at Citi. OCP Holdings 180,110,733 30.74% MANAGING DIRECTOR, HAMISH COLLINS Management & Board 23,960,942 4.09% 26 years’ experience in mining industry and mining investment banking, including M&A and project financing. Bliss Investments 23,517,768 4.01% National Nominees 19,996,604 3.41% NON-EXEC DIRECTOR, STEPHEN LONERGAN Washington H Soul Pattinson 16,678,317 2.85% More than 30 years involvement as director, legal counsel and/or company secretary for Australian and international Total Top 10 329,631,675 56.25% mining companies . Mr Lonergan has been Company Secretary of Aeon Metals Limited since 28 September 2006. NON-EXEC DIRECTOR, IVAN WONG More than 25 years experience in running various businesses in Australia. Mr Wong has well established connections in China. Research Analysts EXPLORATION MANAGER, DAN JOHNSON David Coates, Bell Potter BUY $0.54 More than 30 years experience in exploration management in Australia and overseas. 1. As at 30 August 2018. 3 AEON METALS | ASX:AML 2. As at 30 June, 2018. 3. 85M with strike of $0.16 for face value of ~$13.6M. Expiry 17 Dec 2019 4. Approximate and inclusive of capitalised interest as per 31 Dec 2017. Due 17 Dec 2019
A WORLD-CLASS COPPER-COBALT PROJECT 100% AML owned Walf lford Creek Project The hig ighest grade sig ignif ificant cobalt deposit in in Austr tralia - contain ining +44kt Cobalt. Material upside alo long +20km str trik ike HISTORICAL DRILLING +50,000m ▪ 1989-1996: WMC 93 holes (DD/RC) = 16,100m ▪ 2004-2006: Copper Strike 30 holes (RC) = 3,500m ▪ 2010-2012: Aston Metals 92 holes (DD/RC) = 15,000m ▪ 2014-2017: Aeon Metals 96 holes (DD/RC) = 17,200m The 2018 Resource 1 estimates underpin Wal alford Cr Creek eco conomic develo lopment: Copper Lod Co ode Resource containing: ▪ 15.7Mt @ 1.2 .24% Co Copper an and 0.1 .15% Co Cobalt lt (also 0.98% Pb, 0.82% Zn and 34g/t Ag) PLUS Cobalt Co lt Peripheral l Resource containing: ▪ 18.0Mt @ 0.1 .11% Co Cobalt lt (also 0.16% Cu, 1.03% Zn, 0.85% Pb and 22g/t Ag) 2018 drill rill ca campaign commenced in April - 3 rigs to drill at least 30,000m: • to advance the known mineralisation to development status; AND • to test the +20kms of potential extension of the current Resources 4 AEON METALS | ASX:AML 1. See 24 January 2018 ASX announcement for Resource details. See Page 2 for competent persons statement.
GEOLOGICAL CODE UNLOCKED Min ineralisati tion is is both th str tructu turally and lith lithologicall lly contr trolled – Fis ish Riv iver Fault (F (FRF) ) and Pyrite Units its (P (PY1 and PY3). PYI I from ~25m. P PY3 from ~140m Sedimentary exhalative (S (SEDEX) PY1 deposit t - Massive sulp lphid ides Pyrite le lenses conta tainin ing Pb Pb-Zn Zn-Ag. Secondary event: : C Cu-Co hydrothermal flu luids reacting with ith pyrite units its – droppin ing out t on FRF. PY3 2 dis istinct Resources: • Cu Cu-Co Co • Fla lanking Co-Zn Zn-Pb Pb-Ag Ag Resource over 3.6 .6km str trik ike of FRF. FRF contin tinues for +20kms. 5 AEON METALS | ASX:AML 1. See Appendix 1 for geological model description related to A-D.
100% OWNED TENEMENT WITH +20KM STRIKE 6 AEON METALS | ASX:AML
CURRENT RESOURCES (Jan 2018) Copper Lode + Cobalt Peripheral Resource – Long Section Second Round 2017 Drill Holes 1 Examples of historical holes 2 ~3.6km Cobalt Peripheral Resource blocks Copper Lode Resource blocks Marley Zone Vardy Zone Copper Lode Resource: Cobalt Peripheral Resource: Category Mt Copper Lead Zinc Silver Cobalt Pyrite Category Mt Copper Lead Zinc Silver Cobalt Pyrite % % % g/t % % % % % g/t % % Measured 1.2 1.25 0.89 0.81 26.3 0.16 44.4 Measured 1.8 0.13 0.54 1.16 17.4 0.12 47.4 Indicated 3.8 1.19 0.69 0.88 23.6 0.14 41.4 Indicated 6.5 0.17 0.66 1.13 17.8 0.1 39.5 Inferred 10.7 1.25 1.09 0.81 37.8 0.16 40.9 Inferred 9.7 0.16 1.03 0.95 25.2 0.12 37.6 Total 15.7 1.24 0.98 0.82 33.5 0.15 41.3 Total 18 0.16 0.85 1.03 21.8 0.11 39.2 Category Copper Lead Zinc Silver Cobalt Pyrite Category Copper Lead Zinc Silver Cobalt Pyrite Kt Kt Kt Mozs Kt Kt Kt Kt Kt Mozs Kt Kt Measured 14 10 9 1 2 509 Measured 2 10 21 1 2 853 Indicated 11 43 73 4 6 2,548 Indicated 45 26 34 3 5 1,575 Inferred 16 100 92 8 11 3,645 Inferred 134 118 86 13 17 4,396 Total 30 152 186 13 20 7,046 Total 194 154 129 17 24 6,480 7 AEON METALS | ASX:AML 2. See Appendix 2 for assay results
8 AEON METALS | ASX:AML
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