Aureka Limited · ASX:AKA

Aureka — Navarre Minerals — Shareholder Meeting (November 2016)

15 slides from Aureka's shareholder meeting presentation, Nov 25, 2016

1. Slide 1: 2016 Annual General Meeting Company Update

   Stawell granite 2016 Annual General Meeting ASX: NML Company Update 25 November 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: Navarre Minerals Limited

   Navarre Minerals Ltd ASX:NML Navarre Minerals Limited  ASX CODE: NML  Cash A$1.4M#  167.1m Ordinary Shares on Issue  24.5m Unlisted Options  A$7.5m* Market Capitalisation Major Shareholders: Board & Management 16% Newmarket Gold Inc.^ 11% Tattersfield Securities Ltd 3% Top 20 49% ^ owner & oper

4. Slide 4: Objective & strategy

   Navarre Minerals Ltd ASX:NML Objective & strategy  Discover a major gold or copper deposit from within the Company’s exploration assets  Drill test the Irvine basalt dome prospect for Stawell Gold Mine style deposits (“SGM”)- size >1Moz  Target gold mineralisation within 50kms of existing SGM inf

5. Slide 5: Significant milestones 2016

   Navarre Minerals Ltd ASX:NML Significant milestones 2016  Corporate  Victorian Government awards TARGET Minerals Exploration Initiative co- funding grant for exploration at Irvine gold prospect (up to $626K)  Successful capital raisings net $2.1M mainly to fund Irvine exploration  Shareholders r

6. Slide 6: 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 5Moz Stawell

7. Slide 7: 2016 – 2017 Strategy

   Navarre Minerals Ltd ASX:NML 2016 – 2017 Strategy Drill test Irvine gold prospect Sulphides in drill chips, Irvine prospect  Extensive basalt dome target supported by mapping & geophysics – Irvine Basalt 8km long  Confirmed gold grades up to 22.8 g/t1 from rock chip sampling of quartz reefs in sha

8. Slide 8: Ararat Gold Project

   Navarre Minerals Ltd ASX:NML Ararat Gold Project New Stawell-style basalt dome target identified 15km south of Stawell Gold Mines Similar geology & structure to Stawell’s Magdala gold deposit – all within short trucking distance of SGM  Gold occurs proximal to the flanks of large basalt domes 6.

9. Slide 9: Stawell Gold Mine Model

   Navarre Minerals Ltd ASX:NML Stawell Gold Mine Model Similar rocks, structure, scale and mineralisation  Magdala’s 4Moz of production from western side of Magdala Basalt between the basalt and Stawell Fault  Historical alluvial gold leads appear to emanate and drain away from the western side of I

10. Slide 10: $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

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: 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

14. Slide 14: 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

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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