23 Nov

121 EMEA Conference Presentation

1 Unlocking the potential of the Balkans 121 Europe, Middle East & Africa (EMEA) Virtual Conference November 2021 Presentation ASX:BMM Important Information & Disclaimer This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly . This document has been prepared by Balkan Mining & Minerals Ltd (the Company , BMM, Balkan Mining ) . This document is neither a prospectus nor an offer to subscribe for Shares or Securities . The information contained in this document is a professional opinion only and is given in good faith . The material in this document ( material ) is not and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security in BMM, nor does it form the basis of any contract or commitment . BMM makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material . BMM, and its directors, employees, agents and consultants make no representations or warranty, express or implied, as to the accuracy, reliability or completeness of this material, and have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from, this material, except liability under statute that cannot be excluded . Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of BMM, industry growth or other trend projections are, or may be, forward looking statements . Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties, many of which are outside the control of, and may be unknown to, BMM . Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors . Recipients of this document are cautioned to not place undue reliance on such forward looking statements . BMM does not take responsibility to release publicly any revisions or updates to any forward looking statements to reflect events, circumstances or unanticipated events occurring after the date of this document except as required by law or by any appropriate regulatory authority . This document is a visual aid and is not intended to be read as a stand alone document . The material contains selected and abbreviated summary information about BMM and its subsidiaries and their activities current as at the date of this document . The material is of general background and does not purport to be all inclusive or complete . BMM does not take responsibility for updating any information or correcting any error or omission which may become apparent after the date of this document . Certain statistical and other information included in this document is sourced from publicly available third party sources and has not been independently verified . Compliance Statement This document contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” ( 2012 JORC Code ) and available for viewing at www . balkanmin . com . BMM confirms that it is not aware of any new information or data that materially affects the information included in any original ASX market announcement . ASX announcements are as follows : ? BMM Prospectus - 25 May 2021 ? Surface Mapping at Rekovac Completed – 20 Aug 2021 ? Surface Sampling Commences at Dobrinja and Pranjani Lithium/Borate Projects - 20 Sep 2021 ? Completion of Sampling at Dobrinja Lithium - Borate Project – 6 October 2021 ? Gravity and magnetic geophysics completed at Rekovac – 1 November 2021 ? Gravity & Magnetic survey complete over entire Rekovca project – 15 November 2021 The release of this document on ASX has been authorised by the Managing Director of Balkan Mining & Minerals Ltd . 2 • Rekovac target remains open along strike and at depth Investment Highlights Rekovac is just the beginning Balkan Mining is focused on early stage exploration through to development of Borate and associated Lithium minerals in the Balkans. 1 . Study on the EU’s list of Critical Raw Materials (2020) 2. Reuters “ EU says it could be self - sufficient in electric vehicle batteries by 2025 ( Nov 24 2020) Exposure to critical green & technology materials, lithium and borate • Both included in European Commissions Critical Raw Materials (CRM) report 2020 1 • Boron critical to everyday life given its wide - ranging industry & agriculture uses • EU plans for lithium self sufficiency by 2025 2 Exciting exploration potential Attractiv e valu e propositio n • 336 km 2 of lithium - borate project area located in the Vardar trend Ke y strategi c partnership • C ollaboration agreement in place with Sandfire Resources Ltd • Balkan to benefit from technical and strategic resources of this relationship 3 4 Corporate Overview Capital Structure M arket cap $21.64M Options 2 4 , 0 00,000 Performance Rights 2 2,100,000 1 . ASX Announcement 29 Oct 2021 – September Quarterly Activities 2. ASX Announcement 30 Aug 2021 - Appendix 3G Notification regarding unquoted securities and notification of performance milestone satisfaction – BMM & ASX Announcement - 02 Sep 2021 Notification regarding unquoted securities - BMM Shares on issue 46,050,000 Share Price (22 Nov 2021) $0.47 Cash $5,065,000 1 5 Corporate Overview A highly commercial and experienced board Ross Cotton – Managing Director • 15 years of experience in the securities and mining industries with detailed experience in corporate transaction management and execution via managerial roles with ASX listed companies • Corporate advisory services experience covering strategy, acquisitions as well as financing via both debt and equity Lu k e Martin o – Non - e x ecuti v e Director • 25+ years’ experience at partner & board level with Deloitte and currently Director of Indian Ocean Corporate, a boutique corporate & investment banking firm in Australia & Mainland China Milos Bosnjakovic – Non - executive Director • Over a decade in the resources industry in Australia with considerable corporate experience within the industry • Co - founder of ASX - listed Sultan Corporation Limitedwhich became Balamara Resources Limited & Non - Executive Director of Adriatic Metals PLC (ASX: ADT). • Strong links and experience in the Balkan countries of the former Yugoslavia Republics, Australia and New Zealand Sean Murray – Non - executive Chair man • 40 years experience worldwide in the chemicals and mining industries, including non - ferrous metals and minerals and industrial minerals • Successful executive management career including serving on the boards of Rio Tinto operating companies either as an executive director or president 6 Corporate Overview Backed by an experienced in - country team Dejan Jovanovic – General Manager, Exploration • Dejan is a geologist with more than 15 years’ experience in mineral exploration and mineral deposit evaluation. • He possesses specialist expertise in lithium, borates and base metal mineral deposits and exploration methodology. • Mr Jovanovic implemented and encouraged the highest standards of technical and operational excellence across multiple project support groups. • He has held numerous positions throughout his career including notable roles with Rio Tinto (Serbia) where he worked on Rio T int o’s Jadar lithium - borate deposit; senior exploration roles with Lithium Li Ltd / Pan Global Resources Inc. serving as a key leadersh ip capacity for exploration programs in the Balkans. Dejan has also acted as a exploration management consultant to various clie nts including European Lithium and General Manager Exploration for Jadar Resources Limited (ASX: JDR). • Graduate of Economic and Exploration Geology at the University of Belgrade and a member of the Professional Geological Societies a fellow of the European Federation Geologist (CP under JORC). Nenad Loncarevic – Senior Exploration Geologist • Nenad has 30 years’ of mineral exploration experience. He is highly experienced in target generation, project evaluation and exploration program implementation for gold, base metals and industrial minerals. Nenad possesses an outstanding knowledge of many deposit styles with particular strengths in poly metallic systems and sedimentary type deposits. • Prior to joining BMM, Nenad held senior exploration roles with companies including Medgold Resources Corp. (TSX.V: MED), Ultra Lithium (TSX - V: ULI) & Dundee Precious Metals Inc. (TSX: DPM). • Nenad holds a Master of Science in Economic and Exploration Geology from the University of Belgrade.” • Dramatic resurgence for lithium over 2020 as wholesale global EV adoption materialises • EV sales rose 50 % year over year to exceed 3 million units in 2020 • Europe sales surpassing China for the first time 1 Europe leading the charge • European Green Deal promotes aggressive measures • 55% greenhouse gas emissions reduction by 2030 • Climate neutral by 2050 2 • Lithium key to achieving targets • EU plans for lithium self sufficiency by 2025 - aggressively funding lithium projects and research • European Commission greenlights research and innovation project (€2.9Bn) 2 • European Commission declare lithium critical raw material2 • Creation of European Battery Alliance Lithium Critical to the Green Revolution Data complied August 24 , 2021 Sources; Fastmarkets.com Europe and China to dominate passenger PEV sales and growth to 2025 China 2017 2018 2019 2020 2021 2022 2023 2024 Data as of Jan. 20, 2021 PEV = plug - in electric vehicle Sources; S&P Global Market Intelligence; Government and official body publications 2025 12 10 8 6 4 2 0 10 9 8 7 6 5 4 3 2 1 0 PEV sales (million units) Penetration rate (%) EU27 UK Norway US Other countries Penetration rate 0.57m 1.21m China PEV sales 2 0 1 7 2 0 2 0 2025 3.85m Europe Inc. UK and Norway 0.3m 1.18m PEV sales 2 0 1 7 2 0 2 0 2 0 2 5 3.91m 1. Source: S&P Gloabal 2. Source: European Commission $- $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 $16.00 $18.00 Lithium Hydroxide (US$/kg) 7 Evolving lithium consumption (BEV = battery electric vehicle, PHEV = plug - in electric vehicle, HEV = hybrid electric vehicle) Graph source: BoA Securities 1: https://finance.yahoo.com/news/permanent - lithium - shortage - looming - 210000771.html 2: https://www.reuters.com/business/energy/shortages - flagged - ev - materials - lithium - cobalt - 2021 - 07 - 01 8 Forecast EV consumption to hit 90% 1 by 2030, or 2 million tonnes by 2030 2 8 Factors Driving Demand Decarbonisation – Increased demand as the world generates energy from renewable resources such as solar panels and wind turbines in place of fossil fuels Population growth – Boron is and essential micronutrient for plant life . With a 40% increase in population by end of century, significantly higher agriculture levels required Boro n • Borates integral to everyday life , 300+ applications • Boron containing minerals are among the rarest minerals on earth • No primary boron production in EU • European Commission critical material status 1 • Substantial deposits of economically mineable borates are rare • 2nd most applied raw material in key technologies identified 2 Boron Markets An essential mineral for modern society 1. Source: European Commission, Study on the EU’s list of Critical Raw Materials – Final Report (2020) 2. Source: European Commission, Critical materials for strategic technologies and sectors in the EU, a foresight study, 2020 9 Energy Conservation – Increased insulation provides savings through less reliance on cooling and heating Communications – Increased use of special borosilicate glass in phones and personal devices Turkey 40% USA 25% South America, Russia & China = 35% Serbian Asset Portfolio 10 • Located in the World Class Vardar Zone in Serbia, a tier 1 lithium - borate jurisdiction • Combined Project size of 336km 2 across 3 projects • Flagship Rekovac Lithium - Borate Project remains largely underexplored with mineralisation remaining open in multiple directions • Re k ovac has easy access to the E75 European motorway and modernised rail corridor 10 • Serbian location provides easy access to major European lithium and boron markets • Serbia central to the EU’s growing e - mobility supply chain 1. RIO ASX Announcement 10 Dec 2020 - Rio Tinto declares maiden Ore Reserve at Jadar 2. Euro Lithium - Technical Report, Mineral Resource Estimate and Preliminary Economic Assessment of the Velejevo Lithium - Borate Property 2020. NI43 - 101 & 40 - 101F1 Technical Report. P&E Mining Consaultants No. 371 3. Erin ventures - Mineral Resource Estimate Update on the Piksanja Borate Project Serbia February 2019 • First round reconnaissance drilling program included two diamond drill holes (1,238m) • Preserved Borate and Lithium mineralisation found in both drill holes • REK - 002 intercepted over 171 m with over 10 , 000 ppm of B 2 O 3 and up to 969 ppm Li 2 O from 35 m including 49 . 6 m with over 20 , 000 ppm of B 2 O 3 and up to 624 ppm Li 2 O from 51 . 5 m 1 • Target remains open along strike as well as at depth Flagship Rekovac Lithium - Borate Project Previous Exploration 1 . BMM Prospectus 25 May 2021. 11 • Surface mapping conducted over the entire Rekovac project completed • Program was conducted in order to identify potential extensions to mineralisation and drill targets • Five dominating sedimentary formations were identified • Data obtained from the mapping program has been analysed in order to assist with site selection as part of the proposed drilling campaign Rekovac Lithium - Borate Project Exploration Activity Commenced 1 Disseminated nodular analcime (left) and oxidized sulphide lenses (middle), and fine, disseminated sulphides replacing most l ike ly soluble borate minerals – pseudomorphs (right) 1. ASX Announcement 20 Aug 2021 - Surface Mapping at Rekovac Completed 12 • Processing of gravity and airborne magnetic data over the entire Rekovac project is complete • Provides more precise definition of additional targets for follow - up exploration programs • The gravity survey has identified two major parallel deep - seated faults that may have acted as pathways for mineral - bearing fluids • The results indicate that the targeted stratigraphic section on the north is buried, and thus preserved, under younger sedimentary cover • New data will assist in carrying out an internal review of site selection as part of the proposed drilling campaign Rekovac Lithium - Borate Project Exploration Activity Commenced 1 1. ASX Announcement 15 Nov 2021 – Gravity and Magnetic Survey Interpretation Completed over entire Rekovac Project Area 13 Terrain corrected Complete Bouguer gravity image contoured at 1 mGal (left) and computed basin depth image contoured at 50m (right) Dobrinja & Pranjani Projects • Located in western Serbia approx. 90km SSW of Belgrade • Studies by the Yugoslavian Geological Survey identified favourable lacustrine strata for hosting lithium and boron within the l i cenced areas • Surface sampling and reconciliation program has been completed at Dobrinja 1 • Permit wide sampling program of 97 outcrops • 61 samples of lacustrine - appearing sediments taken for geochemical analysis • Waiting on sample results to be returned to assess further exploration Dobrinja & Pranjani Projects Expanding our exploration footprint in Serbia 14 1 . ASX Announcement 20 September 2021 - Surface Sampling Commences at Dobrinja and Pranjani Lithium/Borate Projects & ASX Announcement 6 October 2021 - Completion of Sampling at the Dobrinja Lithium - Borate Project • Marketplace agreement executed with Puro.earth to identify CO 2 Removal Certificates (CORC’s) for its projects in Serbia • Puro.earth is the world’s first B2B marketplace, standard and registry focused solely on carbon removal • Under the agreement, Puro.earth will seek to identify CORCs for the Company to purchase from 2024 onwards Sustainability – Negative Carbon Lithium Landmark marketplace agreement with Puro.earth 15 “ESG and sustainability are at the core of the work that we are undertaking in Serbia . Our work programs are all planned taking into consideration environmental, safety and community requirements . “This marketing agreement with Puro . earth is a further step in our goal to becoming a ‘carbon negative’ producer of lithium - borate products . ” Ross Cotton, BMM Managing Director 1 5 Building a Balkan Focused Portfolio Balkan Minerals is committed to building an ethical resource portfolio in the Balkan Region Clearly defined exploration plan leveraging early stage work from previous owners with cash on hand to execute Exposure to critical technolog y materials, lithium and borate Strategic alliance with Sandfire Resources Ltd provide s an ability to leverage knowledge and resource s to accelerate growth Regionally based management & technical personnel to identify further opportunities and drive growth in the Balkan’s 16 1 ASX:BMM CONTACT DETAILS Ross Cotton – Managing Director 311 - 313 Hay Street, Subiaco WA 6008 +61 8 6489 0600 www.balkanmin.com info@balkanmin.com Questions?

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