28 Oct 2021

Mining the Territory Conference Presentation

Unlocking the Tennant Creek Mineral Field Innovation and Commercial Relationships Rob Bills – Managing Director and Chief Executive Officer Mining the Territory, October 2021 Important notice and disclaimer This presentation has been prepared by Emmerson Resources Limited ACN 117 086 745 (ASX : ERM ) (the “ Company ”) and is being provided to a limited number of investors for the sole purpose of providing preliminary background information to enable recipients to review the business activities of the Company . It is not intended as an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities . This presentation should not be relied upon as a representation of any matter that a potential investor should consider in evaluating the Company . The Company, nor any of its directors, agents, officers, employees or affiliates does not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability for any statement made in, or omitted from, this presentation . Prospective investors should make their own independent evaluation of an investment in the Company . Nothing in this presentation should be construed as a financial product advice, whether personal or general, for the purposes of Section 766 B of the Corporations Act . This presentation consists purely of factual information and does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product . The Company has not considered any of your objectives, financial situation or needs . This presentation and contents has been made available in confidence and may not be reproduced or disclosed to third parties or made public in any way without the express written permission of the Company . 2 The discovery team Hermitage project Tennant Creek ASX: Visible copper intersected at Hermitage within 142m hematite - quartz - jasper - magnetite ironstone 4 3D interpreted ironstone from historical drilling - ERM Proposed Holes 2021 Legend: HERMITAGE PLAN VIEW Historical Drilling Interpreted Regional structure - Magnetite – hematite – quartz ironstone Interpreted ironstone intersected from historical RAB drilling ERM Completed Holes 2021 Location map with ML30177 and MLC 705, 100% Emmerson tenements 5 EL28776 ML30177 North Northern Star Edna Beryl mine Carraman EL26594 Macedon Thrace Troy Marathon Rising Star EL28776 Jasper Hill Copper – Gold - Cobalt Project MLC 705 ML30893 ML30909 ML30870 Northern Star Mine (Historic Production 26,058oz Gold) Kepler Hermitage Northern Star to Hermitage long sections 6 Gold, copper and cobalt potential…….not explored since 1980’s Jasper Hills Drilling program 2021 Hermitage Drilling program 2021 NORTHERN STAR PIT NORTH STAR GOLD HERMITAGE Emmerson hold a strategic 1,700 km 2 in the Tennant Creek Mineral Field 7 (Complimentary relationship: ERM manages and operates the exploration, TCMG the mining & processing) Why invest in Emmerson? 8 Commanding land positions in NT and NSW Tennant Creek (NT) is one of Australia’s highest grade gold provinces Macquarie Arc (NSW) – home of the giant copper - gold deposits Track record of discoveries from systematic science - based exploration Mauretania (20m at 38.5g/t gold, incl. 4m at 158g/t gold) Edna Beryl (8m at 157g/t gold incl. 2m at 613g/t gold) Goanna (36m at 3.4% copper incl. 18m at 5.7% copper) – all discovered in the past five years Pathway to grow and realise value from Tennant Creek New Strategic Alliance with TCMG over the NPA and SPA Secures $10.5m Exploration Earn - in and JV (incl. mining JV) New Landmark Agreement with the Traditional Owners – Partnership that secures equity and jobs Highly credentialed and committed Board and Management Team Majority have been with Emmerson since 2007 Creating an emerging gold royalty business TCMG – well credentialled partner that is funding mining and the new centralised mill in Tennant Creek Emmerson to receive a low risk 6% gold royalty from each mine Well funded and poised for further success Well cashed up and future revenue stream locked in from minimum royalty of 60,000ozs gold $ Discovery history • New detection techniques = discoveries 9 New detection techniques = discoveries Edna Beryl Mauretania Hermitage Discovering the undiscovered 10 First predict, then detect Missing: 1 deposit @ 5.2Mozs, 1 deposit @ 1.74Mozs, +++ Undiscovered deposit Undiscovered deposit Undiscovered deposits 0 1000000 2000000 3000000 4000000 5000000 6000000 Au Equivalent oz Deposit Name Top 18 mines Zipf Curve Potential according to Zipf’s Law of natural populations Predicting the Undiscovered = new style of mineralisation. Hematite hosted breccias and/or vein style in similar structural setting. Predicting the Undiscovered = new style of mineralisation. Hematite hosted breccias and/or vein style in similar structural setting. Tennant Creek 11 Undervalued and underexplored One of the few underexplored high grade gold provinces left in Australia Only 8% of drill holes reached a depth greater than 150m Ag Bi Au Ag Bi Warrego White Devil Orlando North Star Edna Beryl Gecko Ivanho e TC8 Chariot El Dorado Juno Nobles Nob Golden Forty Peko Argo 122,700 t Cu 4% 91,500 t Cu 2% 1.33 moz Au 8 g/t 0.64 moz Au 15 g/t 0.84 moz Au 57 g/t 1.11 moz Au 17 g/t 118,900 t Cu 4% Mineral resources Historical production Size of the circle relates to the mine historical production in Au Eq. Size of the pie relates to the proportion of metal production in Au Eq. Au Eq. calculations used the following metal prices: gold $1,300/oz, silver $20/oz, copper $3.00/lb, bismuth $10/lb Lone Star Orlando Gecko & Goanna Chariot Warrego CIP plant 20 g/t Au 12 g/t Au 11 g/t Au 8.6 g/t Au 18 g/t Au 3.5 g/t 1.2 g/t The gold exploration industry “pain point” – time to discover • Gold discovery is a slow business… slowness is costly. • ERM the first company to apply new ideas/technology across a consolidated land package in the Tennant Creek Mineral Field. • ERM made first discoveries in over two decades in Tennant Creek… Mauretania, Goanna, Monitor, Edna Beryl (extensions)… all associated with hematite ironstones. 12 Time (Years) Exploration companies (n) 12 years is the average time to discover a minable deposit Discoveries 2.8 companies on average explore property before discovery is made Old detection technologies 13 Fixed - wing aeromagnetics was effective back then but finds only the most obvious magnetite hosted deposits Orlando Gecko Warrego White Devil Chariot TC8 Eldorado Juno Peko Golden 40 Nobles Nob Northern Star Ivanhoe Argo Edna Beryl Mauretania Black Snake Susan Deposits blind or at best display subtle signatures in historic aeromagnetics New detection technologies - 10,000 - line km high resolution drone magnetic survey 70% complete 14 Mauretania….now you see it!....gold associated with hematite, some residual magnetite = subtle magnetic anomaly Gold associated with hematite in drill hole MTDD010 (4m at 57g/t gold) Proof of concept….drone magnetic anomaly at Mauretania Mauretania – exciting new primary gold zone of ~4m at 57g/t gold 15 Landmark Native Title Agreement over Jasper Hills • • • • • • Edna Beryl – the first high - grade mine • Opened in 2017 and operated intermittently on a campaign basis • Low tonnage and high grade ( ? 30g/t Au) mine… further drilling required • New generation of hematite hosted, Tennant Creek style mineralisation… and there will be others! • Emmerson received a 12% gross gold revenue with no exposure to mining or processing costs 17 2,107t Ore tonnes produced 29g/t Au Average head grade $420k Royalties payable to ERM Key metrics from small scale trial mining in 2018 - 2019 Mining, processing and operatorship with TRL Tennant Creek now terminated – 100% ownership restored to Emmerson Edna Beryl – small mine, big potential • Nobles Nob produced +1.1Moz and was the highest grade gold mine in Tennant Creek (average grade +17g/t) • Supergene 31g/t gold grade contours (blue outline) from Nobles Nob superimposed on Edna Beryl • Potential not realised at Nobles Nob until underground development and drilling was completed • Further definition drilling to infill current gold mineralisation underway 18 19 Integrated approach and strategy Brownfields Discover new deposits (EEJV) • Leveraging success and lessons • New tech - drone and UF Geochem • Ranked corridors (Endowment vs Maturity) • Shallow oxide gold (e.g. Mauretania) • Tier 1 primary gold deposits Greenfields Near Mine Gold Projects • Chariot*, Mauretania*, Black Snake*, Malbec West *, Edna Beryl • Scoping studies incl. confirmation residual resources (JORC), permitting etc Reassess Existing Mineralisation • Utilising the existing database • Different economic parameters • Extensional exploration/drilling • Orphan drill holes • Mauretania Deeps, El Dorado, Golden 40/GK, Susan, Hermitage, Jasper Hills Near Mine TCMG Unlocking stranded assets in Tennant Creek via new Strategic Alliance with TCMG Emerging gold royalty business - aims to generate multiple future royalty streams Emmerson to continue to drive district - wide exploration utilising new technology Unlocking new ground via partnerships with Traditional Owners Drilling underway at Hermitage and Edna Beryl – both 100% ERM projects Strong balance sheet and experienced Board and Management Team Innovation and commercial relationships 20 Rob Bills Managing Director & Chief Executive Officer Emmerson Resources Limited +61 8 9381 7838 rbills@emmersonresources.com.au www.emmersonresources.com.au ASX: ERM Contact 21 Competent person statement The information in this report is based on information compiled by Dr Ana Liza Cuison, MAIG, MSEG . Dr Cuison is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2004 edition and the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves . Dr Cuison is a full - time employee of the Company and consents to the inclusion in this report of the matters based on her information in the form and context in which it appears . Forward - Looking Statements This document may include forward - looking statements . Forward - looking statements include, but are not limited to, statements concerning Emmerson Resources Limited’s planned exploration program and other statements that are not historical facts . When used in this document, the words such as "could," "plan", "expect," "intend," "may”, "potential," "should," and similar expressions are forward - looking statements . Although Emmerson believes that its expectations reflected in these forward - looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource . Regulatory Information The Company does not suggest that economic mineralisation is contained in the untested areas, the information contained relating to historical drilling records have been compiled, reviewed and verified as best as the Company was able . As outlined in this presentation the Company is planning further drilling programs to understand the geology, structure and potential of the untested areas . The Company cautions investors against using this announcement solely as a basis for investment decisions without regard for this disclaimer . Authorised for release by the Managing Director, Mr Rob Bills 22

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