25 Nov

AGM 2021 MDs Company Presentation

AGM Presentation 25 November 2021 www.allianceresources.com.au 1 high - magnetic magnetite skarn 1.2 kilometers ALLIANCE RESOURCES LTD Annual General Meeting 2021 granite granite N Cautionary & Competent Persons Statements Cautionary and Forward Looking Statements This presentation has been prepared by Alliance Resources Limited (“Alliance”). The information contained in this presentatio n i s of a general nature only and does not constitute an offer to issue, or to arrange an issue, of securities or financial products. The information conta ine d in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. This pr ese ntation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of this presentation, the investor needs to consider, with or without the a ssi stance of a financial advisor, whether the investment is appropriate with due regard for their particular investment needs, objectives and financial circums tan ces. This announcement includes certain forward looking statements, including, without limitation, those concerning economic outlo ok for the mining industry, expectations regarding gold prices, exchange rates, production rates and costs and other operating results, growth prospects and the outlook for the Company’s operations contain or comprise certain forward looking statements that involve various risks and uncertainties. Alt hou gh the Company believes that the expectations reflected in such forward looking statements are reasonable at the date of the announcement, no assuran ces can be given that such statements will prove to have been correct. To the maximum extent permitted by law, none of Alliance’s directors, officers, employees, advisors or agents, accepts any li abi lity, including, without limitation, any liability arising out of fault or negligence, for any loss or damage arising from the use of the information con tained in this document nor is any obligation assumed to update such information. In particular, no representation or warranty, express or implied, is provided as to its accuracy, completeness or currency of the information contained in this document. To the maximum extent permitted by law and the ASX Listing Rules, the Company accepts no obligation to correct or update the information or statements contained therein. Competent Person’s Statement The information in this report that relates to the Exploration Results is based on information compiled by Mr Anthony Gray. M r G ray is a Member of the Australian Institute of Geoscientists and is a full time employee of Alliance Resources Ltd. Mr Gray has sufficient experienc e w hich is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Compete nt Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Gray consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. AGM Presentation 25 November 2021 www.allianceresources.com.au 2 Alliance Overview Capital Structure and Shareholders Statements AGM Presentation 25 November 2021 www.allianceresources.com.au 3 CAPITAL STRUCTURE Shares on Issue Mkt Cap @ $0.17 Cash @ 30 Sept 21 Listed Investments Enterprise Value Options 208.0 M $35.4 M $ 2.0 M $ 0.1 M $33.3 M 9.3 M MAJOR HOLDERS Abbotsleigh / GM Sandon Capital Top 20 holders 72.2 % 10.5 % 92.9 % BOARD & EXECUTIVE MANAGEMENT Ian Gandel Chairman Tony Lethlean Director Steve Johnston Director Kevin Malaxos Managing Director Bob Tolliday CFO & Co. Secretary Anthony Gray Exploration Manager Mining entrepreneur with 25+ years in the exploration and mining industry. Non - Executive Chairman, Alkane Resources Ltd and Australian Strategic Materials Ltd. 25+ years in underground mining, stockbroking and project finance, including CIBC World Markets. Non - Executive Director, Alkane Resources Ltd. 38 years in exploration, mining, project management & corporate administration. Previous roles include Exco, Croesus, Metana and Metals Exploration. Mining engineer with 35+ years in mining industry, including open pit and underground operations and management. Previous roles include Centrex Metals, Mt Gibson Iron and WMC Resources. Chartered Accountant with 30+ years in accounting, audit, corporate finance, including with KPMG and Pitcher Partners. 20+ years in exploration and mining geology. Previous roles with WMC, Barra Resources, Breakaway Resources and Octagonal Resources. Weednanna Gold / Iron Deposit Location AGM Presentation 25 November 2021 www.allianceresources.com.au 4 ? Southern Gawler Craton, South Australia ? 50 km north of the township of Kimba ? 100% owned ? Significant tenement holding ? In excess of 1500 km2 ? Well serviced by large regional centres ? Whyalla, Port Augusta and Port Lincoln ? 3 Ports within trucking distance suitable for bulk commodity exports ? Whyalla, Cape Hardy, Lucky Bay ? 450km N - W of Adelaide by road Weednanna Gold / Iron Deposit 3D Geological Model AGM Presentation 25 November 2021 www.allianceresources.com.au 5 83% of Mineral Resources occurs within 120m of surface which is a function of the average depth of RC drilling to date conceptual West Pit conceptual East Pit Shoot 3 Shoot 7 Shoot 7A Shoot 8 Shoot 9 Shoot 2 Shoot 10 Shoot 4 Shoot 5 Shoot 5E Shoot 6 Shoot 11 Shoot 1 Weednanna Gold / Iron Deposit Future Exploration Potential AGM Presentation 25 November 2021 www.allianceresources.com.au 6 ? Coloured shapes represent underground gold ore resource blocks (red, orange, green, pink) ? Potential exists to extend resource at depth and along strike (blue oval shapes) Wilcherry Regional Gold Potential AGM Presentation 25 November 2021 www.allianceresources.com.au 7 25+ km of folded magnetic iron formation Weednanna East: Aircore drilling in late 2018 identified gold anomalism >100 ppb over 1,000m including 2m @ 1.31 g/t Au from 49m (open in north) Weednanna North : Re - analysis of historic iron ore drill samples in late 2018 identified gold mineralisation over 650m including 22m @ 0.34 g/t gold from 42m Weednanna Gold / Iron Deposit 2020 Gold & Iron Mineral Resource Estimate AGM Presentation 25 November 2021 www.allianceresources.com.au 8 Classification Tonnes Grade (g/t gold) Gold (Ounces) Measured 185,000 3.2 18,800 Indicated 550,000 2.7 48,000 Inferred 97,000 6.9 21,600 Sub-Total 832,000 3.3 88,400 Measured 2,000 4.3 200 Indicated 200,000 6.5 41,600 Inferred 73,000 9.3 21,800 Sub-Total 274,000 7.2 63,600 Measured 186,000 3.2 19,000 Indicated 750,000 3.7 89,600 Inferred 170,000 7.9 43,300 TOTAL 1,106,000 4.3 152,000 Above Pit Shells ($3,000 AUD) >0.5 g/t gold - Open Pit Potential Below Pit Shells ($3,000 AUD) > 1.5 g/t gold - Underground Potential Total - Open Pit & Underground Potential (Reported Mineral Resource) Classification Tonnes Fe % Al 2 O 3 % SiO 2 % S % P % LOI % Measured 284,000 60.7 2.5 6.4 0.08 0.021 2.08 Indicated 410,000 59.3 1.8 6.2 0.26 0.015 2.23 Inferred 238,000 59.1 1.9 6.5 0.23 0.016 1.72 Sub-Total 932,000 59.7 2 6.3 0.2 0.017 2.05 Measured - - - - - - - Indicated 57,000 58 1.6 6.2 0.1 0.007 1.37 Inferred 161,000 58.3 1.6 7.1 0.12 0.006 1.59 Sub-Total 218,000 58.2 1.6 6.8 0.12 0.006 1.53 Measured 284,000 60.7 2.5 6.4 0.08 0.021 2.08 Indicated 467,000 59.2 1.8 6.2 0.24 0.014 2.12 Inferred 400,000 58.8 1.8 6.7 0.18 0.012 1.67 Total 1,150,000 59.4 2 6.4 0.18 0.015 1.95 Above Pit Shells (A$175/t for 62% Fe) >55 % Fe & <0.5 g/t Au – Open Pit Below Pit Shells (A$175/t for 62% Fe) >55 % Fe & <1.5 g/t Au – Underground Total – Open Pit & Underground 2020 Gold Mineral Resource Est. The reported Gold Mineral Resource is that proportion of gold contained within A$3,000 pit shells >0.5 g/t gold and underground potential >1.5 g/t gold 2020 Iron Mineral Resource Est. The reported Iron Mineral Resource is that proportion of iron contained within pit shells pit shells using an iron price of A$175/t for 62% Fe, gold price of A$3,000/ oz , 55% iron lower cut - off grade and 0.5 g/t gold upper cut - off grade plus underground potential using a 55% iron lower cut - off grade and 1.5 g/t gold upper cut - off grade. Weednanna Gold / Iron Deposit Site Layout - Proposed AGM Presentation 25 November 2021 www.allianceresources.com.au 9 Weednanna Gold / Iron Deposit Site Layout AGM Presentation 25 November 2021 www.allianceresources.com.au 10 Weednanna Gold / Iron Deposit Gold Processing Plant Layout AGM Presentation 25 November 2021 www.allianceresources.com.au 11 Weednanna Gold / Iron Deposit Progress during 2020/21 AGM Presentation 25 November 2021 www.allianceresources.com.au 12 • Continued Exploration drilling to increase definition and understanding of Weednanna Gold and Iron system • Completed diamond drilling for geotechnical analysis of processing plant civils and mine design • CSIRO Collaborative Research Project commenced • Develop understanding of mineral systems model • Identify vectors to new mineralisation • Completed Metallurgical studies on various ore types to maximise gold recovery • Engineering design of Processing plant incl. investigate Wet Magnetic Separator to recover iron in gold ore • Advanced discussions with Traditional Owners for Native Title Mining Agreement • Commenced discussions with Landholder for land access Weednanna Gold / Iron Deposit Progress to Production AGM Presentation 25 November 2021 www.allianceresources.com.au 13 • Continue infill resource drilling to increase mineral resource - North • Complete detailed Mine optimisation for open pit and underground • Finalise capital and operating cost • Submit Mine Lease Application to DEM • Continue key Stakeholder engagement • Finalise NTMA and Landholder agreements • Finalise funding options for Mine construction and Processing plant • Prepare and submit PEPR – Final government approval • Prepare contracts for Processing plant supply and construction, mining equipment supply, consumables supply agreements • Commence Site establishment and construction • Commence Surface mining Contact Details AGM Presentation 25 November 2021 www.allianceresources.com.au 14 Kevin Malaxos Managing Director Alliance Resources Limited Suite 3, 51 - 55 City Road Southbank Victoria 3006 T +61 3 9697 9090 Email: info@allianceresources.com.au Website: www.allianceresources.com.au

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