25 Nov


Level 2, 8 Colin Street, West Perth, WA 6005 Australia | PO Box 520, West Perth, WA 6872 Australia T : +61 8 6117 9397 | F : +61 8 6118 2106 | E : admin@avzminerals.com.au | W : www.avzminerals.com.au | ABN 81 125 176 703 24 November 2021 ASX Announcement DRC – AFRICA BUSINESS FORUM 2021 – AVZ PRESENTATION AVZ Minerals Limited (ASX:AVZ, “ the Company ” or “ AVZ ”) is pleased to advise that Mr Serge Ngandu - Director of Corporate Affairs , will be presenting at today’s DRC - Africa Business Forum, foster ing the development of battery , electric vehicles and renewable energy industry value chain and market in Africa. Please find attached a copy of today’s presentation. Yours sincerely, Ben Cohen Joint Company Secretary AVZ Minerals Limited DRC - Africa Business Forum 24 November 2021 1 Important Notice and Disclaimer 2 Disclaimer This presentation should be considered in its entirety . If you do not understand the material contained in this presentation, you should consult your professional advisers . The sole purpose of this presentation is to provide shareholders with an update on current activities of the Company and the current state of exploration at the Manono Lithium and Tin Project in the Democratic Republic of Congo . Any statements which may be considered forward looking statements relate only to the date of this presentation document . Such forward looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause actual results, performance or achievements of the Company to be materially different from future results, performance, or achievements expressed or implied by such forward looking statements . As a result of these factors, the events described in the forward - looking statements in this document may not occur . Notwithstanding the material in this presentation, shareholders should consider that any investment in the Company is highly speculative and should consult their professional advisers – whether scientific, business, financial or legal – before deciding whether to make any investment in the Company . The Company may at its absolute discretion, but without being under any obligation to do so, update, amend or supplement this presentation or any other information to the recipient . No person has been authorised to give any information or make any representation other than contained in this document and if given or made, such information or representation must not be relied on as having been so authorised . No New Information This document may include references to information that relates to Mineral Resources and Ore Reserves prepared and first disclosed under the JORC Code 2012 . The information references the Company’s previous ASX announcements noting the following : Mineral Resources and Ore Reserves for the Manono Lithium and Tin Operation “MLTO” or Roche Dure reference the Company’s previous ASX Announcements “JORC Ore Reserves increase by 41 . 6 % at Roche Dure” released to ASX on 14 July 2021 and “Updated Mineral Resource Estimate Includes Pit Floor “Wedge” Drill Results” released to ASX on 24 May 2021 . Any reference to Carriere de l’Este mineral resource estimate (MRE) should be read in conjunction with the Company’s previous ASX Announcement “Assays from Carriere de l'Este drilling confirms deposit a likely rival to Roche Dure” dated 16 August 2021 . Any reference to tin exploration targets should be read in conjunction with the Company’s previous ASX Announcement “Initial Exploration Target for Alluvial Placer Hosted Tin Defined at the Manono Lithium and Tin Project” dated 18 May 2021 The Definitive Feasibility Study (DFS) refers to the April 2020 DFS, announced to the ASX on 21 April 2020 . These announcements are available to view on the Company’s website www . avzminerals . com . au . The Company confirms it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed . The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the relevant original market announcements Forward Looking Information This announcement contains certain forward - looking statements and comments about future events, including the Company’s expectations about the Manono Project and the performance of its businesses . Forward looking statements can generally be identified by the use of forward - looking words such as ‘expect’, ‘anticipate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘predict’, ‘plan’, ‘propose’, ‘will’, ‘believe’, ‘forecast’, ‘estimate’, ‘target’ and other similar expressions within the meaning of securities laws of applicable jurisdictions . Indications of, and guidance on, future earnings or financial position or performance are also forward - looking statements . Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward - looking statements will not be achieved . Forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance . Forward looking statements involve known and unknown risks, uncertainty and other factors which can cause the Company’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements and many of these factors are outside the control of the Company . As such, undue reliance should not be placed on any forward - looking statement . Past performance is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward - looking statements, forecast financial information or other forecast . Nothing contained in this announcement nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of the Company . Except as required by law or the ASX Listing Rules, the Company assumes no obligation to provide any additional or updated information or to update any forward - looking statements, whether as a result of new information, future events or results, or otherwise . Authorisation of release Release of this market announcement is authorised by Nigel Ferguson, AVZ Minerals Limited’s Managing Director . Corporate Snapshot 3 CAPITAL STRUCTURE ? ASX Code AVZ ? Share Price (22 November 2021) $0.70 ? Shares outstanding 3.2bn ? Market Cap (A$) $2.2B ? Cash (15 th November 2021) $7m ? Debt Nil ? Directors and Management Shareholding 3% The team consists of an excellent mix of technical, corporate and legal professionals with over 150 years of combined African experience and with major mining operations both in Africa and globally Project Background Ownership ? 75% owned by AVZ Minerals Limited ? 25% owned by DRC Government Status ? 5 Mtpa Scoping Study completed in May 2019 ? 4.5 Mtpa DFS completed in April 2020 ? Mine Expansion study progressing well ? ESIA approvals granted ? Favourable opinions received for both environmental and financial capability as assessed by DRC government ? Favourable technical opinion on DFS and issue of mining licence expected in Q4 2021 ? Final Investment decision “FID” expected following updated expansion study and award of Mining Licence Mine Type ? Open pit, hard rock lithium, tin and tantalum ? Alluvial tin and tantalum Estimated Life of Mine ? Model constrained to 20 years ? Expanded LOM being investigated Process Flow Sheet ? 2 stage crush, HPGR, DMS and calcination plant for lithium sulphate ? Wilfley tables and magnetic separation for tin and tantalum recovery Products ? Initial production of 700 kt/a SC6 and 46 kt/a primary lithium sulphate, additional credits for tin, tantalum and niobium likely Resources and Reserve ? 401 Mt @ 1.65% Li 2 O (spodumene) ? 132 Mt @ 1.63% Li 2 O Proved and Probable Reserves Power ? MOU signed in Jan 2020 to refurbish the Mpiana Mwanga hydro - electric power station, approx. 87 km from the site Water ? Readily available from the local man - made Lake Lukushi Transport ? Roads and rail to Dar es Salaam port in Tanzania and Lobito port in Angola via Kabondo Dianda Intermodal Staging Station Project Background 4 Manono Lithium & Tin Project Greenbushes (excl tailings) Wodgina (excl tailings) Bald Hill Finnis Goulamina Mt Cattlin James Bay Mt Marion Kathleen Valley Pilgangoora Pilgangoora (Altura) Arcadia (70%) Piedmont Mt Holland 0.8 1 1.2 1.4 1.6 1.8 2 2.2 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 Li 2 o Grade % Million Tonnes Selected Global Hard Rock Lithium Peers Mineral Resources Estimate (Grade and Tonnage) “AWAKENING THE MONSTER”… Chart represents tonnes of ore from disclosed Resource estimates and recent company presentations as published by respective pro ject owners. These estimates may have been prepared under different estimation and reporting regimes and may not be directly comparable. Refer to Appendix 1 for the Peer Comparison Information including Resource Classi fic ations. AVZ accepts no responsibility for the accuracy of resource estimates other than its own. 5 Our Sustainable Development Goals AVZ is committed to achieving sustainable outcomes within the communities we operate This is reflected in our Corporate Social Responsibility Policy and our Sustainable Development Plan Social Contribution Community Wellbeing Community Development Sustainable Livelihoods Environmental Contribution Energy Use and Resilience Sustainable Operations ESG Focus - Economic & Social Contribution 7 Our Commitment ? Management is committed to develop the Project for the long - term benefit of the local communities, providing sustainable development and economic empowerment opportunities . ? Robust ESG credentials laying the foundations for sustained operations at MLTO which will strive to sustain carbon neutral operations ? Full corporate responsibility plan developed and an ESG gap analysis and sustainability plan being implemented Economic Contribution ? The multiplier effect to the local economy stemming from the economic activity from MLTO is substantial, through the creation of both direct ( 500 ) and indirect ( 2 , 000 ) employment opportunities and significant generation of direct and indirect tax revenues ? MSEZ to stimulate development of broader business initiatives in value adding transformation business linked to mining, battery minerals and agriculture Social Contribution ? Employment initiatives ? Vocational training programs and apprenticeships ? Agricultural development programs ? Setting up training for farmers ? Assist with provision of machinery, equipment & seed stock ? Potential game park for tourism ? Education initiatives; ? Upgrading school resources ? Assist with promoting attendance through to secondary school ? Community initiatives ? Assist to provide water and electricity to schools & hospitals ? Assist with health services including vaccination programs ? Improve sport and recreation facilities MLTO DFS & Growth Projects ? AVZ Minerals Limited (AVZ) completed a Definitive Feasibility Study (DFS) in April 2020 with respect to the Manono Lithium and Tin Operations (“MLTO” or “the Project”). ? The Mining Licence submission has received favourable environmental, financial capacity and cadastral opinion with final step being award of a favourable technical opinion with regards to the DFS. ? DFS CAPEX ~US$545 million producing 700 kt/a SC6 and 46 kt/a Primary Lithium Sulphate (PLS) over a 20 year life of mine (“ LoM ”) ? The DFS proved the Project’s economic credentials with a post tax NPV 10 of USD1.028 billion over the LoM , generating 2,500 jobs ? Growth studies to expand production, increase LoM and grow downstream production, investing in value accretive processing which is aligned with our Sustainable Development Vision and Goals. 8 Upstream Extraction SC6 Production Intermediate Processing Primary Lithium Sulphate Refining Converting Lithium Hydroxide Electrochemical Production Cathode & Anode Cell Production Battery Assembly Lithium Battery Supply Chain MLTO DFS CAPEX US$ 545M Potential feed to a vertically integrated lithium battery supply chain in the DRC AVZ Further Growth Projects • SC6 expansion study (increased production) • Downstream processing (additional PLS trains and LiOH conversion) • Power (expanded renewable energy capacity) • Logistics (cost, capacity and reliability drive) Downstream expansion focus ? The MLTO is disadvantaged by the inherent high logistics costs to the port of export and current lack of infrastructure ? AVZ has developed Primary Lithium Sulphate (PLS) as one way to overcome these high logistics costs through downstream processing of SC6 ? Lower unit logistics costs are just one advantage ? Additional environmental benefits with lower carbon emissions via the transportation of less waste to chemical converters, which is an increasing focus for global markets ? Access to sufficient hydro electricity power is a key consideration to any downstream processing expansions for MLTO Why PLS is a compelling case for chemical converters? 1. Reduced landfill and waste disposal costs 2. Capex savings eliminating the need to build the front end of a chemical conversion plant 3. Lower carbon footprint 4. Lower unit logistics and handling costs throughout the supply chain 5. Reduced reagent requirements and costs 10 Operating at high standards: Low CO 2 Emissions and Low Waste Primary Lithium Sulphate Primary Lithium Sulphate High quality feed from mining operations with highest operational and ESG standards Minimized Carbon Emissions Target: Lowest possible carbon footprint Very Low Waste Approach Non toxic by - product and waste, suitable for use in construction and other industries High - purity Lithium hydroxide monohydrate Product will meet the highest standards of cathode producers and their suppliers Current Project Status 11 ? AVZ has advanced the project to a stage where all technical and engineering work is complete ? The Project is essentially “Bankable” following issue of the Permis d’Exploitation . ? Advancement of the project further is not possible without the award of : ? Permis d’Exploitation , which is under consideration by the Cadastre Minier in Kinshasa (CAMI) ; ? Submission of all documentation to support the application occurred on 5 May 2021 . ? Mpiana Mwanga Hydro Power Agreement ; ? Collaboration Agreement for development of the Project ; and ? Award of the Manono Special Economic Zone . Company Project Stage Measured Mt Indicated Mt Inferred Mt Global MRE Mt MRE Li 2 O Grade % Information Source AVZ Minerals Limited Manono Lithium & Tin Project Development 100 174 128 401 1.65 ASX Release 24 May 2021 Albermarle (49%)/Tainqi (26%)/ IGO (25%) Greenbushes (excl tailings) Operating 0.2 169.4 8.9 178.5 2.00 IGO acquisition presentation and ASX Release 9 Dec 2020 Albermarle (60%)/ MinRes Ltd (40%) Wodgina (excl tailings) Operating (C&M) 0.0 177.0 59.9 236.9 1.19 ASX Release 23 October 2018 Alita Resources (Administration) Bald Hill Operating (C&M) 0.0 14.4 12.1 26.5 1.00 Presentation 20 March 2019 (Alliance Minerals Assets) Core Lithium Finnis Development 3.2 4.4 7.1 14.7 1.32 2020 Annual Report, Presentation 23 June 2020 Firefinch Limited Goulamina Exploration 8.4 56.2 43.9 108.5 1.45 ASX Release 9 Feb 2021, Presentation 10 Feb 2021 Galaxy Resources Mt Cattlin Operating 1 9.2 4.4 14.6 1.29 Presentation 25 Nov 2020 James Bay Exploration 0 0 0 40.3 1.40 Presentation 25 Nov 2020 Ganfeng (50%)/MinRes Ltd (50%) Mt Marion Operating 0.0 22.7 48.7 71.3 1.37 ASX Release 31 October 2018 ( MinRes ) Liontown Resources Kathleen Valley Development 20.0 105.0 32.0 156.0 1.35 Presentation 4 Feb 2021, Annual Report 2020 Pilbara Minerals Pilgangoora Operating 18.3 113.8 90.4 222.5 1.26 2020 Annual Report Pilgangoora (Altura) Operating 7.4 34.2 4.1 45.7 1.06 Presentation March 2020, 2019 Annual Report, ASX Release 9 October 2019 (Altura Mining) Prospect Resources Arcadia (70%) Exploration 15.9 45.4 11.4 72.7 1.11 Presentation 1 Feb 2021, Annual Report 2020 Piedmont Lithium Piedmont Exploration 0 13.9 14 27.9 1.10 Presentation 24 Nov 2020 SQM (50%)/ Westfarmers (50%) Mt Holland Development 66.0 106.0 17.0 189.0 1.50 WES Presentation 2 May 2019, Mt Kidman Scheme Booklet 1 August 2019 Appendix 1 - Peer Comparison Information – Mineral Resource Estimates 12 Table represents tonnes of ore from disclosed Resource estimates and recent company presentations as published by respective pro ject owners. These estimates may have been prepared under different estimation and reporting regimes and may not be directly comparable. AVZ accepts no responsibility for the accuracy of resource estimates other than its own.

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