25 Nov

Chairmans Address and AGM Presentation

Woomera Mining Limited Suite 116 , 147 Pirie St Adelaide SA 5000 admin@WoomeraMining.com.au www.WoomeraMining .com.au CHAIRMAN’S ADDRESS FOR 202 1 AGM Dear Shareholders On behalf of the Board of Woomera Mining Limited I am pleased to welcome you to the Company’s 2021 Annual General Meeting . With me here today are my fellow non - executive D irectors , Mr David Lindh and Mr David Richards, our Managing Director Mr Kevin Seymour , and Company Secretary Mr Jonathan Lindh . The past year has been a busy one for the Company , with several exploration programs completed for gold and base metals . RC drilling been completed at Three Bears to follow - up on gold mineralisation previously identified in aircore drilling and a t Mt Cumming, RC drilling is testing a number of electromagnetic anomalie s for base and platinum group metals. T he larger Mt Venn Project will remain a significant focus for the Company going forward, as it builds on its efforts towards making a discovery that can deliver significant value to Shareholders. I am also pleased to say that t his strategy will be expanded in FY2022, as we embark on new exploration campaign s over our Musgrave and Labyrinth Projects in South Australia. While COVID - 19 may continue to limit our ability to cross between South Australia and We stern Australia, the Company has bolstered its technical expertise, and now has dedicated exploration teams in both states to push towards a discovery . We look forward to a very successful and rewarding year ahead . T he support shown by our Shareholders ha s been critical for the Company being able to proceed with its exploration plans. I acknowledge and thank the Board and Management for their hard work during the year , and I also thank the Traditional Owners of the Mt Venn project , who have assisted in progressing our exploration programs . We will now move on to the formal part of today’s meeting, following which o ur Managing Director will provide a short presentation on current activities. Ian Gordon Chairman Woomera Mining Limited 1 ASX : WML – November 2021 Focussed Ni - Cu - PGE + Gold Explorer AGM Presentation November 2021 Kevin Seymour Managing Director 2 ASX : WML – November 2021 IMPORTANT INFORMATION DISCLAIMER This presentation doesn’t include all the information on Woomera Mining Limited and should not be used in isolation as a guide to investing in the Company . Any potential investor should also refer to the Woomera Mining Limited’s Annual Reports, filings and ASX releases and take independent professional advice before considering investing in the Company . For further information about Woomera Mining Limited, visit the website at www . woomeramining . com . au COMPETENT PERSONS STATEMENT The exploration results reported herein, insofar as they relate to mineralisation , are based on information compiled by Mr Kevin Seymour . Mr Seymour is a Member of the Australasian Institute of Mining and Metallurgy who has over thirtyfive years of experience in the field of activity being reported . Mr Seymour has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity that he is undertaking 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’ relating to the reporting of Exploration Results . Mr Seymour consents to the inclusion in the report of matters based on his information in the form and context in which it appears . FORWARD LOOKING STATEMENTS Certain statements in this document are or maybe “forward - looking statements” and represent Woomera’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities . The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woomera, and which may cause Woomera’s actual performance in future periods to differ materially from any express or implied estimates or projections . Nothing in this document is a promise or representation as to the future . Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material . Woomera does not make any representation or warranty as to the accuracy of such statements or assumptions . 3 ASX : WML – November 2021 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 $0.000 $0.005 $0.010 $0.015 $0.020 $0.025 $0.030 $0.035 $0.040 01/2020 04/2020 07/2020 10/2020 01/2021 04/2021 07/2021 Volume (millions) Share price (A4/sh) WOOMERA MINING LIMITED – CORPORATE SNAPSHOT ASX: WML Share Price (23 Nov 2021): $0.018 per share Shares on Issue: 619 million Options: 188 million Market Capitalisation: $11.1 million Cash (23 Nov 2021) unaudited estimate, (includes Nov. Rights Issue) $2.6 million Debt (30 Jun 2021): Nil Enterprise Value: $8.5 million Major Shareholders Share Price History David Lindh, NED , 5.48% Kevin Seymour, MD , 0.95% Ian Gordon, NED , 0.39% David Richards, NED , 0.23% Other Shareholders , 92.95% Nickel and Gold Price Performance New Board & Management 0 500 1000 1500 2000 2500 3000 0.0 3.0 6.0 9.0 1/12/2019 1/03/2020 1/06/2020 1/09/2020 1/12/2020 1/03/2021 1/06/2021 A$/oz Au US$/per lbs Ni Nickel (lhs) Gold (rhs) 4 ASX : WML – November 2021 2020 - 2021 ACHIEVEMENTS - EXPLORATION FOCUS – GOLD AND BASE METAL PROJECTS • New leadership and new focus • Committed explorationists - targeting world - class nickel, copper and gold provinces • Emphasis on low - risk, investor - friendly mining jurisdictions • Yilgarn Craton - Mt Venn JV (Au + Ni - Cu - PGE) Project – 80% Woomera Mining (WML) / 20% Cazaly Resources • Musgrave Province – Musgrave (Ni - Cu - Co) Project – 100% WML • Gawler Craton - Labyrinth (Cu - Au) Project – 100% WML • Advancing new farm - ins/joint ventures/acquisitions Pipeline of targets over multiple projects 5 ASX : WML – November 2021 2020 - 2021 ACHIEVEMENTS - MT VENN JV PROJECT - GOLD + Ni – Cu - PGE • Over 50km continuous strike within the under - explored greenstone belt • Pipeline of nickel and gold targets identified • Over 9,900m of RC + AC drilling was completed at Mt Venn during FY2021 • Including 109 holes for 7,501m into Three Bears • Successfully defined three, stacked, mineralised lodes (Mama Bear, Baby Bear and Papa Bear), extending over 4km strike at the Three Bears Gold Prospect • 8 follow - up RC holes drilled since (FY2022) for 2,107m, targeting higher grade mineralisation (Results awaited) • Pending auger soil programmes at Mt Cumming South, Jutson Dome and Wartu Granite are highlighted 6 ASX : WML – November 2021 2021 – 2022 FOCUS - THREE BEARS PROSPECT – A LARGE UNDER - EXPLORED GOLD SYSTEM Section 7 ASX : WML – November 2021 2021 - 2022 FOCUS - MT CUMMING NI - CU - PGE PROSPECT – MAGMATIC NICKEL SULPHIDE EXPLORATION • Mt Cumming Ni - Cu - PGE Prospect - multiple VTEM anomalies • 7 RC holes completed for a total 1,360m in November, before rain forced the programme to be abandoned • EM#11 - 13 which lie along strike from Great Boulder Resources Ltd’s (1) (ASX:GBR) and Ausgold Ltd’s (2) (ASX:AUC) Winchester Prospect are yet to be drilled: • Winchester confirms semi - massive sulphides in the district with intersections up to 21m at 0.63% Cu + 0.2% Ni • EM#6 identified shallow (47m) partially oxidised massive sulphides (pyrrhotite dominant) in two adjacent holes • Assay results awaited for all the Mt Cumming holes (1). See Great Boulder Resources - ASX Release RIU Presentation dated February 2021 (2). See Ausgold Limited - ASX Release Corporate RIU Presentation dated February 2021 (3). 51Mt @ 3.1% Ni Mined from Kambalda region to 2020. Source Portergeo.com.au (4). Kennecott Exploration Australia Pty Ltd (1971): Throssell One and Two . WAMEX Open File report A06944 8 ASX : WML – November 2021 2021 - 2022 FOCUS - MT CUMMING NI - CU - PGE PROSPECT – MAGMATIC NICKEL SULPHIDE EXPLORATION (1). See Great Boulder Resources - ASX Release RIU Presentation dated February 2021 (2). See Ausgold Limited - ASX Release Corporate RIU Presentation dated February 2021 (3). 51Mt @ 3.1% Ni Mined from Kambalda region to 2020. Source Portergeo.com.au (4). Kennecott Exploration Australia Pty Ltd (1971): Throssell One and Two . WAMEX Open File report A06944 9 ASX : WML – November 2021 SOUTH AUSTRALIAN - EXPLORATION PROJECTS 10 ASX : WML – November 2021 2021 - 2022 FOCUS - MUSGRAVE PROJECT – MAGMATIC MASSIVE SULPHIDE NI - CU - PGE PROVINCE • WML holds over 1,600km 2 of granted tenure within the Musgrave Province, in South Australia • Similar geological setting to the Nova Bollinger Ni - Cu and Julimar PGE - Ni - Cu deposits • Proximal to Craton Margin and mantle tapping structures • Woodroffe Thrust + gravity ridge pass through the project • Known prospective Giles Complex rocks that host OZL’s Nebo - Babel Ni - Cu deposit identified, with historical assays up to 19m at 0.2% Ni (1) returned in ultramafic cumulates from 8m depth at Cavanagh ( centre of project holding) • Geochemistry planned to refine targets ahead of airborne and ground EM surveys, plus drill testing in H2FY2022 Musgrave Province Craton Margin (1). CRA (1997): EL2020 Mt Howe Project – Exploration Report 23518. South Australian DME Open File Exploration Report 11 ASX : WML – November 2021 2021 - 2022 FOCUS - GAWLER CRATON – LABYRINTH Cu – Au (IOCG) PROJECT • 60km east of the Tarcoola gold mine and 200km west of Coda Minerals’ Elizabeth Creek IOCG discovery* • Known gold mineralisation associated with outcropping Hiltaba Suite Granites at the Labyrinth gold workings, immediately west of tenement • Coherent plus 4ppb Au, calcrete soil anomaly (defined from reconnaissance 1.5km sample centres**) • 10km of anomalous strike • Infill planned, with ~500, (300mx300m) auger calcrete soil samples, once all statutory approvals are granted * Coda Minerals (ASX: COD) The New Copper Growth Story on ASX – Resource Rising Sat Conference October 2021 ** GSSA Statewide Geochemical Dataset – compilation of historical company report data 12 ASX : WML – November 2021 MAINTAINING MOMENTUM - EXPLORATION TIMELINE – H2 FY2022 Land Access/Heritage Surveys/Data Compilation & Review Site Preparation Geochemistry Geophysics Drilling H2 FY2022 Exploration Budget: $1.42M* * Pending mid year review State Project Prospect Activity December January February March April May June SA Musgrave Cavanagh Shallow RAB/Aircore geochem Area#2 (Cavanagh Ext.) Shallow RAB/Aircore geochem Area#3 (O'Mahoney) Shallow RAB/Aircore geochem Regional VTEM over Cavanagh/O'Mahoney SA Labyrinth Regional Auger Calcrete Sampling WA Mt Venn JV Kennecott (Ni) Single fence Aircore Mt Cumm. Sth (Au) 400 x 50m Auger geochem Jutson Dome (Ni) 800 x 50m Aircore Jutson Rocks (Au) 400 x 50m Auger geochem Wartu Granite (Au) 400 x 50m Auger geochem Mt Cumming (Ni) RC Data Review/PoW planning Three Bears (Au) RC Data Review/PoW planning 13 ASX : WML – November 2021 THANK YOU
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