Aureka Limited · ASX:AKA

Aureka — Navarre Minerals — Investor Presentation (December 2016)

15 slides from Aureka's investor presentation, Dec 8, 2016

1. Slide 1: Investor Presentation

   Stawell granite Investor Presentation ASX: NML Updated to include Drill Results of 1 December 2016 8 December 2016

2. Slide 2: Forward-looking statement & disclaimer

   Navarre Minerals Ltd ASX:NML Forward-looking statement & disclaimer This presentation has been prepared by Navarre Minerals Limited (Navarre or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summ

3. Slide 3: Objective & strategy

   Navarre Minerals Ltd ASX:NML Objective & strategy High-grade gold in quartz-sulphide drill chips from current  Discover a major gold deposit from within the Irvine drill program Company’s exploration assets  Target gold mineralisation next door to multi-million ounce operating gold mines  Drill t

4. Slide 4: Gold Projects in Top Mining Jurisdictions

   Navarre Minerals Ltd ASX:NML Gold Projects in Top Mining Jurisdictions  Victoria’s Golden Triangle has produced over 70 million ounces of gold  Ararat Gold Project – 15km south of operating mine (Stawell Gold Mine)  Tandarra Gold Project - recent high-grade drill results, inc. 5m @ 15.6 g/t Au* 

5. Slide 5: Navarre's Gold Projects - Overview

   Navarre Minerals Ltd ASX:NML Navarre’s Gold Projects - Overview Ararat Gold Project (Irvine prospect):  New gold prospect that has never been drill tested  1Moz geochemical signature from historically mined alluvial gold footprint, no source identified  15km from analogous geology of Stawell’s 4M

6. Slide 6: Ararat Gold Project

   Navarre Minerals Ltd ASX:NML Ararat Gold Project Stawell-style gold mineralisation confirmed 15km south of Stawell Gold Mines Analogous geology and structure to Stawell’s 4Moz Magdala gold deposit – all within short trucking distance of SGM Gold host rocks were once connected prior to granite intrus

7. Slide 7: Stawell Corridor: Historic gold production

   Navarre Minerals Ltd ASX:NML Stawell Corridor: Historic gold production Approximately 6 million ounce historic gold production 160,000 6.0 Estimated Stawell Goldfield Production by Year TARGET MODEL BASED ON STAWELL’S MAGDALA DEPOSIT Cumulative Gold ounces 140,000 Alluvial ounces 0.8 Moz 5.0 Stawell

8. Slide 8: Irvine Gold Prospect Overview

   Navarre Minerals Ltd ASX:NML Irvine Gold Prospect Overview Confirmed Stawell-style gold on 8km long Irvine basalt dome structure Sulphides in drill chips, Irvine prospect  Extensive basalt dome target supported by mapping & geophysics – Irvine Basalt 8km long below extensive 19th century alluvial g

9. Slide 9: $1.2M Ararat Exploration Program 2016/17

   Navarre Minerals Ltd ASX:NML $1.2M Ararat Exploration Program 2016 / 17 Fully funded program underway at Irvine with drill testing commenced November 2016 Program Cost Estimated Timing / $’000s Comments 1. Geological modelling $145 Completed & Geophysics 2. Drilling – 4,000m AC $300 Underway. Comple

10. Slide 10: Irvine Gold Prospect

    Navarre Minerals Ltd ASX:NML Irvine Gold Prospect First high-grade gold drill hits from current program confirm Stawell-style gold Tatyoon Gold Project 8.

11. Slide 11: Tandarra Gold Project

    Navarre Minerals Ltd ASX:NML Tandarra Gold Project Navarre free-carried to advance our gold discovery  40km on-trend from Bendigo, Australia’s 2nd largest goldfield (22M oz)  Tandarra greenfields gold discovery under shallow cover  60km from Victoria’s largest gold mine at Fosterville  Catalyst

12. Slide 12: Investment case

    Navarre Minerals Ltd ASX:NML Investment case A leveraged exploration play located near producing multi-million ounce gold mines Excellent Leverage:  $1.2M Ararat exploration program 2016-17 (Navarre contributes ~ $650K) (Every $ spent in Ararat matched by Vic Gov’t up to $626K cap)  $2.0M Tandarra

13. Slide 13: Navarre Minerals Limited

    Navarre Minerals Ltd ASX:NML Navarre Minerals Limited  ASX CODE: NML  Cash A$1.4M#  173.5m Ordinary Shares on Issue  35.2m Unlisted Options  A$10m* Market Capitalisation Major Shareholders: Board & Management 16% Kirkland Lake Gold Ltd.^ 11% Tattersfield Securities Ltd 3% Top 20 49% ^ owner & o

14. Slide 14: Board and Management

    Navarre Minerals Ltd ASX:NML Board and Management highly experienced leadership team Kevin Wilson Chairman Geologist & investment banker with 30+ years’ experience Rey Resources, Leviathan Resources, Merrill Lynch, Anglo American Geoff McDermott Managing Director Geologist with 30 years of domestic

15. Slide 15: For more information contact

    Navarre Minerals Ltd ASX:NML Navarre Minerals Limited For more information contact Navarre Minerals Limited 40-44 Wimmera Street Stawell VIC Australia 3380 Tel: 03 5358 8623 Website: www.navarre.com.au Email: [email protected] Historic mine workings, Irvine prospect

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