24 Nov

AGM Presentation

AGM 24 th November 2021 2021 Set the foundations for growth Slide 2 A pivotal year for the Company – we established a strong team, acquired a major project, commenced exploration and started along the path to mine development ? Acquired the high grade Murchison Gold Project ? Monetised non - core projects ? Strengthened the balance sheet with strong support from new and existing shareholders ? We built the team with core skills in project evaluation and acquisition, exploration and mine development ? Commenced exploration field work with great success at Murchison Gold Project and Circle Valley ? Grew our gold Mineral Resource by 44% to 1.1Moz ? Began along the path to Mine Development with the commencement of mining studies for our Murchison Gold Project We want to better align our business with the community and region we operate in and our key target commodity ‘ Meeka ’ from the Meekatharra region where we operate and ‘Gold’ being our key target commodity ASX Code: MEK Company Name Change Slide 3 2022 Company Strategy Slide 4 Building momentum with both exploration and mine development studies ? Continue to evaluate growth opportunities through a disciplined evaluation framework looking at assets of appropriate scale and in appropriate commodities where we believe we can add significant shareholder value ? Phase 2 drilling at MGP ongoing (throughout FY22) ? Follow up drilling at Circle Valley (commencing in Jan ’22) ? Delivery of MGP Scoping Study (Dec ’21) ? Delivery of MGP PFS (H2 FY22) A Quality Gold Project Portfolio Slide 5 Underpinned by a large high grade gold resource ? 1.1Moz gold Mineral Resource (65% in Measured and Indicated classification) ? Strategic land holding in Murchison Gold Field (343km 2 Mining Leases and Exploration Licenses) ? Highly prospective greenfields exploration project at Circle Valley in the Albany - Fraser (167km 2 Exploration License) ? Circle Valley reconnaissance aircore drilling returned thick gold intersections and Tropicana style pathfinder signature ? $7.8M cash at the end of September 2021, the Company is well funded for exploration and mining study work 5.5km of Anomalous Gold Mineralisation Slide 6 Murchison Gold Project – underexplored ‘Fairway Trend’ between Turnberry and St Anne’s High Grade Underground Mining Potential ? Total Mineral Resource: 11.3Mt @ 1.7g/t for 610,000oz ? Turnberry Underground Mineral Resource: 1.2Mt @ 3.4g/t for 130,000oz ? High grade core of mineralisation not closed out at depth ? Phase 2 drilling intersected visible gold in hole 21TBRC007 within a thick 15m zone of alteration and sulphide mineralisation Slide 7 Turnberry – increasingly looking like an underground mining opportunity Thick Zones of Mineralisation ? Phase 2 drilling is intersecting thick zones of mineralisation below existing drilling ? Assays pending for all drilling, expected to start receiving results from late November Visible gold observed in hole 21TBRC0007 Slide 8 Murchison Gold Project Phase 2 drilling intersecting thick zones of mineralisation below historic drilling Camp Scale Exploration Opportunity ? 167km 2 Exploration License ? Soil - covered section of the southwestern Albany - Fraser Mobile Belt ? Reconnaissance aircore drilling has located gold mineralisation at Fenceline and Anomaly A Slide 9 Circle Valley – an underexplored section of the Albany - Fraser Mobile Belt Large Gold in Soil Signature at Anomaly A ? Gold in soil anomaly striking 1.2km ? First pass aircore program defines 400m width and remains open to the north, better intercepts include: ? 23m @ 0.64g/t Au from 12m inc. 12m @ 1.05g/t Au (CVAC061) ? 24m @ 0.38g/t Au from 12m inc. 4m @ 1.49g/t Au (CVAC062) ? End of hole multi - element analysis points to Tropicana style pathfinder geochemistry with strong enrichment up to: ? 1.70g/t Silver (Ag) ? 19.75ppm Molybdenum (Mo) ? 0.10ppm Tellurium ( Te ) ? 1,220ppm Barium (Ba) ? 436ppm Rubidium (Rb) ? 136ppm Lead (Pb) Slide 10 Circle Valley – first pass aircore drilling delivers thick, shallow gold intersections Shallow Gold Intersected in the Regolith at Anomaly A Slide 11 Circle Valley – significant end of hole anomalism with elevated pathfinder metals, particularly silver From AngloGold Ashanti 2007 annual exploration report lodged with DMIRS: “Electron microprobe studies determine the gold mineralogy to comprise electrum indicating a significant gold - silver association .” Applied Petrographic Services, 2007. Petrological Studies of Diamond Core From the Tropicana Gold Deposit, Yilgarn Craton, Western Australia. AngloGold Ashanti Internal Report. Analogue: Early Tropicana Drill Section (top) vs. Anomaly A (bottom) Slide 12 Tropicana – a large gold in soil anomaly with thick zones of primary mineralisation below the regolith Circle Valley ? We have a large gold in soil anomaly (1.2km x 0.4km) ? We have strong pathfinder metals enrichment (Ag/Mo/ Te ) ? We have thick zones of gold mineralisation in the regolith ? Drill testing below the regolith starting in January 2022 Tropicana ? Large gold in soil anomaly ? Strong pathfinder metal enrichment (Ag/Mo/ Te ) ? Thick zones of gold mineralisation below the regolith ? 7.6Moz gold in resource at December 2020 TOP 20 HOLD 40% OF THE REGISTER Slide 13 Capital Structure Share Price ( closing price 23 rd Nov ) A$/share 0.052 Shares on Issue M 920 Options on Issue M 33 Market Capitalisation A$M 47.8 Cash (end of Sept 2021) A$M 7.8 Debt (end of Sept 2021) A$M - Net Cash A$M 7.8 Enterprise Value A$M 40.0 Board & Management Timothy Moore Non - Executive Chairman ? Experienced businessman and active investor in media, technology and resources industries ? Holds several other Board positions with private companies and has a Bachelor of Business degree from UTS Morgan Barron Non - Executive Director ? Chartered Accountant ? Extensive experience in corporate advisory, fundraising, corporate reconstructions, M&A and guiding companies seeking to list on the ASX Roger Steinepreis Non - Executive Director ? Lawyer with over 25 years experience ? Current Chairman of ASX listed Apollo Consolidated ? Current Chairman of Perth based law firm Steinepreis Paganin Paul Adams Non - Executive Director ? Geologist and finance professional with over 30 years’ experience across capital markets, exploration and mining ? Previously Managing Director of Spectrum Metals Limited prior to it being taken over by Ramelius Resources ? Current Non - Executive Director of Kalamazoo Resources Limited Tim Davidson Chief Executive Officer ? Mining engineer ? Extensive operational, technical and management experience with Newmont, BHP, Silver Lake Resources With an undemanding EV/oz of $ 36 and a large 1 . 1 Moz resource base LCD compares favourably with peer gro up of WA gold explorers and developers Board & Management hold 9% = well aligned with shareholders Board & Management 9% Retail 91% Top 20 hold 40% Slide 14 ASX Code: MEK Exploration, a clear pathway to mine development and funded to execute with $7.8M at end of September 2021 Project Measured Indicated Inferred Total Tonnes ('000t) Grade (g/t) Ounces ('000oz) Tonnes ('000t) Grade (g/t) Ounces ('000oz) Tonnes ('000t) Grade (g/t) Ounces ('000oz) Tonnes ('000t) Grade (g/t) Ounces ('000oz) Andy Well 150 11.4 55 1,050 9.3 315 650 6.5 135 1,800 8.6 505 Turnberry 6,800 1.6 355 4,500 1.8 255 11,300 1.7 610 TOTAL 150 11.4 55 7,850 2.7 670 5,150 2.4 390 13,100 2.6 1,115 Appendix 1 Notes: 1. Mineral Resources previously reported to the ASX on 18 th May 2021 in announcement titled “Murchison Gold Mineral Resource Grows 44% to +1.1 Million Ounces”. 2. Mineral Resources are produced in accordance with the 2012 Edition of the Australian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2012). 3. Andy Well Mineral Resource is reported using 0.1g/t cut - off grade. 4. Turnberry Open Pit Mineral Resource is reported within a A$2,400/oz pit shell and above 0.5g/t cut - off grade. 5. Turnberry Underground Mineral Resource is reported outside a A$2,400/oz pit shell and above 1.5g/t cut - off grade. 6. Numbers in the Mineral Resource table have been rounded. Slide 15 JORC 2012 Mineral Resource Statement IMPORTANT INFORMATION Disclaimer This information contained in this presentation is issued by Latitude Consolidated Limited (“Latitude” or “the Company”). The in formation contained herein is confidential and proprietary to the Company and is provided to recipients on the terms and conditions set out in this disclaimer. The document, in whole or in part, is not to b e d istributed, copied or reproduced, in any form, without the prior written consent of the Directors of the Company. The document does not purport to cover all relevant information about the Company or its business. It does not intend to be a c omplete or accurate statement of material information. Although the Company has used care and diligence in its preparation, the presentation is provided on the basis that no repres ent ation or warranty, expressed or implied, is made by the Company or any of its associates or advisers as to the accuracy or completeness of the information. None of the information contained in this presentation or any other written or oral communication transmitted or made availab le to the recipient or any of its associates or advisers is, or shall be relied upon as, a promise or representation, whether as to the past or future, and no liability will attach to such information to the Company, it s associates or advisers. The Company and its directors, employees, agents and consultants shall have no liability including to any person by reason of ne gligence or negligent misstatement for statements, opinions, information or matters (express or implied) arising out of contained in or derived from or for any omissions from this presentation, except where li abi lity under statute cannot be excluded. Whilst the directors are confident in the ability of the Company to achieve its objectives, the proposed activities and the i ndu stry in which it operates are regarded as high - risk and therefore should be regarded as speculative. Potential shareholders should be aware of the risks involved with an investment of this nature. The value of the in vestment may rise or fall depending on a range of factors beyond the control of the Company, such as changes to interest rates, inflation, government policy, regulatory regimes and foreign exchange rates. Certain statements in this report relate to the future, including forward looking statements relating to the Company’s financ ial position, strategy and expected operating results. These forward - looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause the actual results, per formance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially fro m the events or results expressed or implied in any forward - looking statement and deviations are both normal and to be expected. Other than required by law, neither the Company, their officers nor any other per son gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward - looking statements will actually occur. You are cautioned not to place undue reliance on those statements. Competent Person's Statement The information in this release that relates to Mineral Resources was first reported by the Company in its announcement to th e A SX on 18th May 2021. The Company is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical paramet ers underpinning the estimates continue to apply and have not materially changed. The information in this release that relates to Exploration Results as those terms are defined in the 2012 Edition of the "Au str alasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve", is based on information reviewed by Mr Duncan Franey, a Competent Person who is a member of The Australasian Institute of Min ing and Metallurgy. Mr Franey is a full - time employee of the Company. Mr Franey has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the act ivity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Franey consents to th e i nclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Mineral Resources for the Andy Well and Turnberry deposits is based upon information reviewed by Mr Andrew Hawker, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Hawker is an independent consultant to Latitude Consolidated. Mr Hawker h as sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edit ion of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hawker consents to the inclusion in the report of the matters based on his information in the form and con text in which it appears. Slide 16 Slide 17 • Tim Davidson ¦Chief Executive Officer • (08) 6388 2700 • info@latitudeconsolidated.com.au • www.latitudeconsolidated.com.au ASX:LCD

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