Investor Presentation

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1 13 July 2017 Edna Beryl Mine Opening (NT) 20 December 2017 First Gld Pur frm Edna Beryl 19 February 2018.Restructure f the JV with Evlutin (NT) 10 April High grade Cbalt, Cpper and Gld at Jasper Hills (NT) 31 May 2018 Strategic Alliance with Territry Resurces Central Prcessing Hub (NT) 14 June Discvery f Whattling Hill cpper-gld (NSW) 21 June 2018.High Grade gld intersected at Mauretania (NT) 26m at 9g/t gld and 0.5% cpper Incl. 8m at 23g/t gld JV and Mining Alliance with Territry Resurces (NT).TBA Investr Presentatin 1

2 Imprtant ntice and disclaimer This presentatin has been prepared by Emmersn Resurces Limited ACN (ASX: ERM) (the Cmpany ) and is being prvided t a limited number f investrs fr the sle purpse f prviding preliminary backgrund infrmatin t enable recipients t review the business activities f the Cmpany. It is nt intended as an ffer, invitatin, slicitatin r recmmendatin with respect t the purchase r sale f any securities. This presentatin shuld nt be relied upn as a representatin f any matter that a ptential investr shuld cnsider in evaluating the Cmpany. The Cmpany, nr any f its directrs, agents, fficers, emplyees r affiliates des nt make any representatin r warranty, express r implied, as t r endrsement f, the accuracy r cmpleteness f any infrmatin, statements, representatins r frecasts cntained in this presentatin, and they d nt accept any liability fr any statement made in, r mitted frm, this presentatin. Prspective investrs shuld make their wn independent evaluatin f an investment in the Cmpany. Nthing in this presentatin shuld be cnstrued as a financial prduct advice, whether persnal r general, fr the purpses f Sectin 766B f the Crpratins Act. This presentatin cnsists purely f factual infrmatin and des nt invlve r imply a recmmendatin r a statement f pinin in respect f whether t buy, sell r hld a financial prduct. The Cmpany has nt cnsidered any f yur bjectives, financial situatin r needs. This presentatin and cntents has been made available in cnfidence and may nt be reprduced r disclsed t third parties r made public in any way withut the express written permissin f the Cmpany. July 2018 Investr Presentatin 2

3 Why invest in Emmersn? Expsure t high-grade Cbalt, Cpper and Gld Best intersectins f greater than 1.3% C, 10.5% Cu and 15g/t Au Revenue Stream frm first high-grade gld mine Head grade f the Edna Beryl gld mine f +40g/t Au Cmmanding grund psitins in highly prspective prvinces Tennant Creek (2,600km 2 ) and NSW (2,400km 2 ) Track recrd f discveries frm systematic science based explratin Edna Beryl, Mauretania, Jasper Hills (NT) Kadungle, Whattling Hill (NSW) Highly credentialed and cmmitted Bard and Management Majrity have been with Emmersn since 2007 Cashed up and pised fr further success $3.8M cash, debt free and revenue stream frm small mines July 2018 Investr Presentatin 3

4 Bard f Directrs Mr. Andrew McIlwain B.Eng (Mining) Nn-Executive Chairman Mining Engineer with mre than 25 years experience in peratinal, senir management and executive rles (MIM, WMC, UML & thers). Mr. Rbert Bills B.Sc, M.Sc Managing Directr and Chief Executive Officer Gelgist with ver 30 years experience in explratin and mining with WMC and BHP. Jined Emmersn in late 2007 as the Managing Directr and CEO. Dr. Allan Trench B.Sc (Hns), Ph.D, M.Sc, MBA Nn-Executive Directr Gelgist/gephysicist with extensive experience in strategy, prject develpment and peratins within the natural resurce sectr. July 2018 Investr Presentatin 4

5 ERM Share Price Vlume (Millins) Capital Structure 60% 25% 12% 3% Institutins Evlutin Mining Directrs & Mgmt ASX cde ERM Shares n issue 405,530,203 Optins (exercise price $0.135) 19,800,000 $0.130 $0.120 Vlume $0.110 $0.100 $0.090 $0.080 $0.070 $0.060 Jul Aug Sep Oct Nv Dec Jan Feb Mar Apr May Jun Jul Market capitalisatin (at $0.08/share) Cash (30/06/18) Enterprise value $32.4 millin $3.8 millin $28.6 millin July 2018 Investr Presentatin 5

6 Superir value frm a strategy f discvery and prductin. Applicatin f prprietary 2D and 3D targeting mdels t predict where the next discvery will be Use apprpriate detectin technlgies t discver Maximise value mnetise existing resurces, expand via near mine explratin Deal assets that are nt value accretive fr ERM Investr Presentatin 6

7 Restructure f the Tennant Creek Prject Jasper Hills - C, Cu, Au Prject G fr Gld, Cbalt and Cpper Emmersn retains 2,600km 2 r 94% f gld assets including the small mines(light blue) Evlutin wn the Geck- Ganna and Orland Area (red stipple). Nte sme f the significant intersectins reprted during the term f the JV (dark blue) July 2018 Investr Presentatin 7

8 Jasper Hills..hw many mre f these are there? An exceptinally high grade, zned cbalt, cpper and gld resurce 23m at 0.14% C, 7% Cu (frm 95m) Incl. 4m at 0.37% C, 10.2% Cu 9m at 0.17% C, 2.9% Cu (frm 135m) Incl. 2m at 0.53% C, 8.7% Cu NSDH101: 28m at 5.83g/t gld, 0.17% cbalt and 8.52% cpper (23g/t AuEq) (frm 108m) and includes: 19m at 0.56g/t gld, 0.47% cbalt and 11.4% cpper and 2m at 50.1g/t gld and 10.5% cpper (67g/t AuEq) NSDD100: 11m at 0.22g/t gld, 0.18% cbalt and 2.56% cpper (8.0g/t AuEq) (frm 117 ) and includes: 3m at 0.34g/t gld, 0.55% cbalt and 5.80% cpper and 1m at 0.48g/t gld, 1.07% cbalt and 5.71% cpper NSDH547: 23m at 0.14% cbalt and 7.04% cpper (14g/t AuEq) (frm 95m) and includes: 4m at 0.37% cbalt and 10.2% cpper and 1.35g/t gld (25g/t AuEq) NSDH488: 14m at 6.72g/t gld, 0.28% cbalt and 2.17% cpper (16g/t AuEq) (frm 284m) and includes: 5m at 16.6g/t gld 2m at 1.32% cbalt and 2% cpper (31g/t AuEq) NSDD110: 15m at 7g/t gld (frm 295 t 310m) and includes: 6m at 14.9g/t gld NOTE: Gld equivalent grades are based n metal prices f: cpper US$6,614/t, gld US$1300 per z and cbalt US$88,750/t. Metal recveries have nt been applied in the gld equivalent calculatin. The gld equivalent calculatin is as fllws; AuEq = Au grade + (Cu grade x Cu price + C grade x C price)/( x x Au price). Prices as at 01 May It is the cmpany s pinin that all elements included in the metal equivalent calculatin have a reasnable ptential t be recvered and sld. Metallurgical recvery infrmatin is nt available at this stage. Reprting f metal equivalents may be misleading and additinal test wrk is required t demnstrate prbable metallurgical recveries fr cbalt, cpper and gld. 8

9 The hunt fr high grade cbalt, gld and cpper in ur 100% wned Nrthern Prject Area First applicatin f the NRG Xcite airbrne gephysical system July 2018 Investr Presentatin 9

10 Preliminary EM anmalies Underexplred n systematic mdern explratin NPA assciated with gravity high but subdued magnetics EM anmalies assciated with hematite hsted cpper sulphides assciated with gld and cbalt? Underging further data prcessing and field assessment ahead f drilling July 2018 Investr Presentatin

11 Small mines Risk free cash via Tribute Agreement frm high grade resurces Edna Beryl currently mined under a tribute agreement Mitigates risk t ERM De-risks explratin & mining Terms via ryalty: first 5000zs = 12% > 5,000zs = 17% Small Mines can grw t big mines! The largest is Charit at ~100,000zs at 17.4g/t gld July 2018 Investr Presentatin 11

12 Edna Beryl. similar t Nbles Nb (+1m zs 50g/t gld) befre undergrund drilling Shaft Develpment A = 1.83m / 140 g/t Au B = 1.83m / 310 g/t Au C = 1.83m / 93.4 g/t Au A B C 50m Level 60m Level m Level Base f Oxidatin 80m Level 90m Level July 2018 Investr Presentatin 12

13 Strategic Alliance Territry Resurces Sale f Warreg Lease t Territry Resurces Territry cnstructing a mdern 300k tpa CIP mill n the Warreg site nly mill in the district! Emmersn t have pririty prcessing rights n a cst+ basis Mill will als prcess third party feed incl. Nbles Nb tails Nw negtiating a landmark Explratin and Mining JV with Territry ver ERM s suthern tenements This will accelerate explratin, mining and prcessing (quicker mnetisatin f ERM s small mines) Realising the NT Gvernments and Emmersn s visin f: Tennant Creek as an integrated mining centre f the NT Emmersn t retain 100% f the Nrthern tenements which include the high grade Edna Beryl, Mauretania and Jasper Hills prjects (1,850km 2 ) 13

14 Emmersn a unique gld and cpper explrer..with a risk free strategy t ramp up gld prductin Tennant Creek Prject restructured sees Emmersn hlding gld dminant prjects and 2,600km 2 f prspective gld tenements plus 100% f the small high grade gld mines Emmersn fcussed n the ptential f high grade cbalt, cpper and gld prjects in the nrthern prject area (Jasper Hills, Edna Beryl and Mauretania) Explratin in Tennant Creek nging drilling based n new AEM survey Third gld pur frm the Tribute Area within the larger high grade Edna Beryl Gld Mine Emmersn has entered int a sale agreement f the Warreg ML with Territry Resurces t allw the cnstructin f a mdern CIP prcessing hub (Hub and Spke mdel) Explratin and Mining JV under negtiatin with Territry Resurces..will result in acceleratin f discvery and prductin in the suthern tenements Prmising cpper-gld discveries at Whattling Hill and Wellingtn in NSW explratin underway July 2018 Investr Presentatin 14

15 Cmpetent persn statement The infrmatin in this reprt relating t Explratin Results is based n infrmatin cmpiled by Mr Steve Russell, wh is a Member f the Australian Institute f Gescientists and has sufficient explratin experience which is relevant t the style f mineralisatin under cnsideratin t qualify as a Cmpetent Persn as defined in the 2004 Editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. Mr Russell is a full time emplyee f Emmersn Resurces Ltd. Mr Russell cnsents t the inclusin in the reprt f the matters based n his infrmatin in the frm and cntext in which it appears. The infrmatin in this reprt which relates t Mineral Resurces is based upn infrmatin cmpiled by Mr Ian Glacken, wh is a Fellw f the Australasian Institute f Mining and Metallurgy. Ian Glacken is an emplyee f Optir Pty Ltd and has sufficient experience which is relevant t the style f mineralisatin and type f depsit under cnsideratin and t the activity which he is undertaking t qualify as a Cmpetent Persn as defined in the 2004 editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. Ian Glacken cnsents t the inclusin in the reprt f a summary based upn his infrmatin in the frm and cntext in which in appears. Geck, Ganna & Orland Mineral Resurce: see details in ASX annuncement New High Grade Drill Results & Upgrade t Resurce Inventry released n 18 Octber Charit Mineral Resurce: see details in ASX annuncement High Grade Charit Gld Resurce released n 28 Nvember 2013 The infrmatin was first disclsed under the JORC Cde It has nt been updated since t cmply with the JORC Cde 2012 n the basis that the infrmatin has nt materially changed since it was last reprted. The gld equivalent calculatin assumes a gld price f US$1,363/z fr gld and US$3.31/lb fr cpper and makes n allwance fr metallurgical recveries. The ttals may nt sum exactly due t runding. July 2018 Investr Presentatin 15