World class address World class opportunities

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1 RC drilling at the Monument Gold Project, WA October 2017 ASX Code: SMD World class address World class opportunities Annual General Meeting 25 October 2018 David Morgan, Managing Director 1

2 Notes Disclaimer This presentation has been prepared by Syndicated Metals Limited ("Company") in connection with providing general and background information on the Company. This presentation should not be relied upon as a representation of any matter that an advisor or potential investor should consider in evaluating the Company. The Company and its related bodies corporate or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this presentation, and they do not accept any liability whatsoever (including in negligence) for any information, representation or statement made in or omitted from this presentation. This document may contain certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this presentation with respect to the Company. Any discussion in relation to Exploration Targets, over and above the stated Indicated and Inferred Mineral Resources is only conceptual in nature. Investors are advised that by their nature as visual aids, presentations provide information in a summary form. Investors are urged to read supporting information in full in ASX releases. This presentation does not constitute an offer of securities in the Company. Nor should this presentation be relied upon by any advisor or potential investor in making an investment decision in the Company. Competent Person s Statement The information in this presentation that relates to Exploration Results is based on and fairly represents information and supporting documentationcompiledbymrpeterlangworthy who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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 (the JORC Code ). Mr Langworthy is the Chairman of Syndicated Metals Limited and consents to the inclusion in the report of the Exploration Results in the form and context in which they appear. The information in this presentation that relates to the Estimation and Reporting of Mineral Resources has been compiled by Mr Matthew Karl BSc/MSc. Mr Karlisafull time employee of Mining Plus Pty Ltd and has acted as an independent consultant on the Korong Deposit Mineral Resource estimation. Mr Karl is a Member of the Australasian Institute of Mining and Metallurgy and of the Australian Institute of Geologists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities 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 (the JORC Code ). Mr Karl consents to the inclusion in this presentation of the contained technical information relating to the Mineral Resource Estimation in the form and context in which it appears. Exploration Targets This presentation may comment on and discuss Syndicated Metals Limited s exploration in terms of target size and type. The information relating to Exploration Targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. The potential quantity and quality of material discussed as Exploration Targets is conceptual in nature since there has been insufficient work completed to define them as Mineral Resources or Ore Reserves. It is uncertain if further exploration work will result in the determination of a Mineral Resource or Ore Reserve. *References to information of other companies Refer to the ASX Announcements of Dacian Gold (ASX: DCN) dated 4 November 2015, 28 July 2016 and the Investor Presentation dated 4 April 2016 for further informationonthe Dacian Gold projects. Other Company data sourced from respective Company web pages and presentations. 2

3 Corporate Summary Leveraged to discovery success; strong shareholder base; experienced team Ordinary Shares 635.4M Unlisted 2.26c 3.12c 13.7M Share 24 October c Market Capitalisation $3.2M Cash 30 September 2018 $0.69M Top 20 shareholders 54.6% Round Oak Minerals Pty Ltd 28.7% Harmanis Holdings 3.8% Jericho Exploration 2.5% Sun Metals 2.1% Shareholder Analysis % SHAREHOLDERS Round Oak Minerals 28.7% HNW Investors 16.2% Corporates 2.9% Directors 7.3% Retail 44.8% Board of Directors An Experienced and Focused Team Peter Langworthy Chairman Gateway Mining, Ex Jubilee, WMC David Morgan Managing Director Ex Equigold NL, Sundance Resources, WMC Rob Cooper Non Exec Director CEO Round Oak Minerals Pty Ltd / Exco Resources 3

4 Exploration Assets: Western Australia Currently one project in WA: Monument Project, Laverton District, WA 283km 2 of exploration tenements Actively exploring for gold Recently defined Mineral Resource at the Korong Deposit Pipeline of new targets identified Continuing to consolidate and expand the project area Project area is also prospective for base metals, particularly Nickel Adjacent to Dacian Gold s Mt Morgans Project (ASX: DCN) KORONG Resource 855, g/t, for 50Koz Other WA Projects Actively investigating the acquisition of other projects within WA Gold, Nickel, Base metals 4

5 Exploration Assets: Queensland Syndicated retains exploration assets in QLD, but is in the process of divesting most assets. Southern Hub Project, Mt Isa Inlier, QLD Executed agreement to sell the Southern Hub Project to privately owned Carnaby Resources (ASX announcement 5 June 2018) Sale is subject to approval by Syndicated shareholders and the successful IPO and ASX listing of Carnaby Resources Northern Hub Project, Mt Isa Inlier, QLD Completed sale of the Northern Hub Project to Minotaur Exploration (ASX announcement 23 July 2018) Barbara Project Royalty, Mt Isa Inlier, QLD Executed agreement with Round Oak Minerals Pty Ltd to relinquish the royalty (ASX announcement 11 Sept 2018) Sale is subject to approval by Syndicated shareholders BARBARA COPPER PROJECT (Round Oak Minerals Pty Ltd) Southern Hub Northern Hub 5

6 The Year in Review: Monument Project, Laverton District, WA Overall, quite a busy year, focusing on Resource definition at Korong and generating new targets across the project area. Summary of work: KORONG Resource 855, g/t, for 50Koz Completed a district and project geological review focused on Intrusion Related Gold Systems (IRGS) and Deposits (IRGD) Targeting syenite related gold deposits Completed an extensive project wide exploration review encompassing an integrated structural, lithogeochemical, geophysical and geochemical approach and utilising our newly updated data sets. Conducted an extensive soil sampling programme covering 12km of the mineralised BIF horizon and numerous interpreted felsic intrusions Numerous new BIF and IRGS targets identified Identified / confirmed multiple potential Syenite (IRGS) targets Including Korong East, Waihi East & Old Copper South OLD COPPER KORONG EAST FELSIC INTRUSIVE OUTLINE 6

7 The Year in Review: Monument Project, Laverton District, WA (Cont.) Conducted a 417 hole (9,904m) aircore drilling programme targeting 3 specific prospects identified by the earlier reviews and soil programme Korong South, Korong to Old Copper trend and the Korong East felsic intrusion (identified in the IRGD review) BIF unit at Monument proven to be mineralised over more than 12km of strike, from Perseverance in the north to Old Copper in the south BIF unit contains multiple geochemical anomalies and historical ore grade drilling intercepts which require further testing and systematic exploration, including, Perseverance, Korong South, Waihi and Old Copper 7

8 The Year in Review: Monument Project, Laverton District, WA (Cont.) Conducted a strategically focused RC drilling program comprising 19 holes for 2,100m, at Korong, Korong South, Old Copper and Korong East Defined a maiden Mineral Resource at Korong, containing 855, g/t Au for 50,000 ounces (ASX Announcement 10 September 2018) Korong Resource remains open in all directions and is geologically very similar to Dacian s Westralia Deposit Obtained granitic samples to assist in understanding the interaction between geological systems and IRGS potential at the Monument Project. On going. 8

9 The Year in Review: QLD Assets Divestment Strategy Northern Hub projects 100% Completion of sale to Minotaur Exploration in July 2018 $125,000 cash and $275,000 of Minotaur shares received (un escrowed) Southern Hub projects 100% Proposed vending of tenements into the pending Carnaby IPO. Subject to shareholder approval: SMD to receive 4 million Carnaby $0.25 SMD to retain 17.5% free carried interest in the Southern Hub tenements Exposure to the consolidation of the high grade Tick Hill Area Barbara Copper Project Royalty Proposed relinquishment of royalty from the Barbara Project. Subject to shareholder approval: SMD will receive $460,000 in cash from Round Oak Minerals Pty Ltd (owner of the Barbara Project) 9

10 Monument Project: IRGS / Syenite Prospectivity Why are we looking at IRGS / Syenite type deposits? KORONG (BIF Hosted) KORONG EAST Known IRGS / Syenite deposits in the Laverton Area include Sunrise Dam (10moz), Wallaby (8moz), Jupiter (1.6moz), Beasley Creek (0.3moz) plus other prospects Cameron Well, Callisto, et al Big prize potential If we can find one! The mineralisation associated with these Laverton IRGS / Syenite deposits presents in a variety of styles, but all are related to the structural architecture developed by the intrusion WESTRALIA (BIF Hosted) CAMERON WELL ROSETTA JUPITER Generally present as ovaloid magnetic anomalies with stacked flat lying lodes and, often, with limited gold anomalism in surface geochemistry CALLISTO WALLABY 10

11 Syenite v BIF Style Deposits: Cross Sections of Jupiter and Westralia Source: Dacian Gold (ASX: DCN) Investor Presentation 4 April

12 Laverton Syenite Related Deposits vs Korong East: Magnetics Laverton Magnetic Image showing locations of: Korong East Cameron Well Jupiter Wallaby Callisto Rosetta KORONG EAST CAMERON WELL Notes: 1) Yellow stars are Au mineral occurrences (from GSWA Minedex product). 2) Image is a compilation of the GSWA regional magnetic data (40m grid cell size) and the detailed Syndicated Metals data compilation (10m grid cell size). 3) Linear RTP image shown, shaded from the NE. ROSETTA JUPITER CALLISTO WALLABY

13 Laverton Syenite Related Deposits vs Korong East: Magnetics (Cont.) Korong East Cameron Well Jupiter Mag Amp 130 nt Mag Amp 200 nt Callisto Wallaby Mag Amp 100 to 280 nt 13 Mag Amp 270 nt Mag Amp 840 nt Magnetic Responses TMI Same Colour Range Linear Total Magnetic Intensity (TMI) shown with NE sunshade Projection: MGA51, GDA94

14 Monument Project: IRGS / Syenite Prospectivity (Cont.) Where should we be looking for syenite targets at Monument? Where Geological indicators are consistent with the possible presence of syenite: Soil samples assays, Drill hole logs and assays, Geochemical analyses, Magnetic signatures vary from high to neutral to low. Where there are Regional similarities and trends: There is an apparent regular spacing of known gold bearing syenites along a common NW SE alignment across the Celia Laverton tectonic zone, Potential association between the anomalous gold mineralisation in the BIF unit with nearby syenite intrusives. 14

15 Monument Project: IRGS / Syenite Prospectivity (Cont.) Korong East Target and where else? Korong East Syenite Target Shows as a typical granitic ovaloid intrusion GSWA mapped granitic/felsic unit Geochemical Interpreted Granitic/Felsic Magnetic low Waihi East Syenite Target GSWA mapped granitic/felsic unit Significant gold intersections at nearby Waihi Poor magnetic signature Not unusual Both interesting targets: Both targets have typical signatures consistent with syenites Both locations match the apparent regular 10km spacing along the common NW SE Wallaby Jupiter Cameron Well alignment KORONG EAST Korong East Target Enhanced Magnetic Image Note: GSWA Geological Survey of WA Korong East Interpreted and Mapped Granitic/Felsic Unit Korong East Soil Geochemistry Granitic/Felsic Minerals WAIHI ANOMALY 4 Waihi East Target Enhanced Magnetic Image Waihi East GSWA Mapped Granitic/Felsic Unit ANOMALY 39 15

16 Monument Project: Next Steps Priority BIF Targets The recent work has identified numerous priority targets across the Monument Project Priority Syenite targets include: Korong East Waihi East Old Copper South Priority BIF related targets include: Perseverance Waihi Old Copper Korong RC drilling Extend known Resource Staged field programmes are currently being scoped & budgeted and are likely to include: Selected geophysics & geochemical analysis Aircore & RC drilling Perseverance Soil Anomaly Waihi Deposit Korong Resource 1.8g/t, for 50Koz Old Copper Prospect Syenite Target Waihi East Syenite Target Korong East Possible Syenite Target Old Copper South BIF Unit Horizon 16

17 Syndicated Metals: Key Investment Takeaways MONUMENT PROJECT An opportunity to be part of the next significant gold discovery in WA s world class Laverton gold district Outstanding exploration address Experienced team Strong shareholder base Clear exploration strategy Maiden Gold Resource Pipeline of new, high priority targets QLD divestment strategy providing short term funding SYNDICATED METALS (ASX: SMD) MONUMENT PROJECT DACIAN GOLD (ASX: DCN) MT MORGANS PROJECT 17

18 Exploration camp at the Monument Gold Project, WA October 2017 ASX Code: SMD Outstanding discovery opportunities in WA s world class Laverton district Thank you. Questions? David Morgan, Managing Director 18